Business News: General

New York, Nov 8 (PTI) With five more American banks going out of business last week, the total number of collapses this year has risen to 120 or an average of over ten entities every month.

New Delhi, Nov 8 (PTI) In a bid to get a toe-hold in the overseas market, state-owned IDBI Bank is planning to open its first foreign branch in Dubai by the end of next month.

Kolkata, Nov 8 (PTI) In a major diversification, Frankfinn Institute of Airhostess Training has launched a range of courses for personal grooming to create an indelible first impression.

New Delhi, Nov 8 (PTI) Several important economic Bills that will pave way for introduction of Goods and Services Tax, Direct Taxes Code and empower the Reserve Bank to supercede erring boards of private sector banks are likely to be tabled in the winter session of the Parliament.

New Delhi, Nov 8 (PTI) The government should desist from introducing monetary tightening measures, and retain fiscal incentives provided through stimulus packages to revive demand and increase private consumption expenditure, PHDCCI has said.

The U.S. House of Representatives voted 220-215 on Saturday to pass legislation overhauling the nation's $2.5 trillion health care system.

New Delhi, Nov 8 (PTI) A pick up in economic activity may spur hiring, but a majority of Indian employers might grapple with skill shortage, says a survey.

New York, Nov 8 (PTI) Led by private sector lender HDFC Bank, Indian stocks trading on American bourses gained over USD 6 billion last week.

New Delhi, Nov 8 (PTI) Maize prices firmed up by one per cent during last week from the week-ago period to reach Rs 9,300 per tonne as first estimates by the government for the Kharif season confirmed fears of lower production, according to US Grains Council.

New Delhi, Nov 8 (PTI) Traders from Pakistan may take part in the rice import tender floated by Indian public sector trading firms-- MMTC, STC and PEC-- for import of a total of 30,000 tonnes of rice.

New Delhi, Nov 8 (PTI) The aviation industry in the country is expected to grow in the medium to long term but is likely to continue incurring losses in the near future, according to rating agency ICRA.

New Delhi, Nov 8 (PTI) Jindal Steel and Power Ltd (JSPL) has filed a complaint with competition watchdog CCI against the Indian Railways for entering into an "exclusive agreement" with state-run SAIL for supply of products.

Thimphu, Nov 8 (PTI) Trade between Bhutan and Bangladesh, which signed a renewed bilateral trade agreement, has grown substantially over the past few years.

SINGAPORE (AP) President Barack Obama and other Asia-Pacific leaders, meeting at a summit this week, will push for a new global strategy to reduce the crippling imbalances in the world economy blamed for the severe financial crisis.

Betwa Sharma New York, Nov 7 (PTI) America's FBI officials are still searching for Indian-origin Deep Shah, a former analyst at Moody's Investors Service who is believed to be in Mumbai, in connection with the USD 53 million insider trading scam, the largest ever such case in the United States.

Corruption costs developing nations $20 to $40 billion each year, while emerging markets and financial centres are increasingly havens for stolen assets, a top World Bank official said on Saturday.

Jaipur, Nov 7 (PTI) Following bad monsoon and a lowering water table in various parts of Rajasthan, the state government is encouraging farmers to grow mustard rather than wheat.

H S Rao London, Nov 7 (PTI) Differences over exiting economic stimuli, reforming banking system and fighting climate change are threatening to derail efforts of Finance Minister Pranab Mukherjee and his G-20 counterparts as they met today in Scotland to pursue an agenda of sustainable economic growth.

Puducherry, Nov 7 (PTI) The Centre has assured Rs 60 crore to set up a Software Technology Park on the premises of a Special Economic Zone here, Minister of for State Planning V Narayanasamy said today.