Business News

The Central Bureau of Investigation (CBI) today arrested the internal auditor of former Satyam Computer Services Limited V S Prabhakar Rao.

In a big bang acquisition move, Reliance Industries Ltd, India's most valuable company, has made a preliminary cash offer to buy a controlling stake in LyondellBasell Industries once the petrochemicals and fuels company emerges from bankruptcy.

ICICI Bank has mopped up US$ 750 million through a five-year bond issue. The issue, made through its Bahrain branch, had an order book of over US $ 3 billion and was participated by over 250 investors. The notes were sold under the Rule 144A/Reg S format.

Intensifying the tariff war, the country's largest telecom operator, Bharti Airtel, on Friday slashed the roaming rates by 60 per cent to 60 paise per minute, thus becoming the second operator after Reliance Communications to do so.

US hedge fund Galleon Group LLC — the US-based hedge fund that is winding down its funds after its founder, Raj Rajaratnam, was accused of heading an insider trading ring — has sold its stake in financial services group Edelweiss Capital Ltd for around Rs 255 crore.

India's public sector undertakings have a combined value of $300-400 billion which means by disinvesting half of its stake in them, the government could raise roughly $200 billion, reason enough for it to embark on a more ambitious disinvestment programme, the 13th Finance Commission has said.

'Green' GDP data from 2015
New Delhi: In a bid to bring environmental concerns into mainstream growth accounting, the government plans to release green GDP data from 2015, environment minister Jairam Ramesh said on Friday. Green GDP is conventional gross domestic product figures adjusted for the environmental costs of economic activities.

Infrastructure development drives real-estate development in every city. Its benefits include public facilities, safety, accessibility and connectivity, all of which have the potential to boost mass housing schemes in new areas on the outskirts and prevent migration into already-overflowing metros.

Mukesh Ambani-led Reliance Industries (RIL) is planning to get into no-frills, low-cost housing. The proposal, though on the drawing board, could be kicked off by 2010  

Former Reserve Bank of India deputy governor SS Tarapore has called for early non-disruptive monetary policy action as any delayed measures have to be harsher if the monetary authorities dither and the macroeconomic outlook and capital inflows are misjudged.

With a view to align businesses and build operational synergy, media company Network18 said it would restructure operations of its flagship company TV18 India by merging broadcasting operations of two of its business news channels - CNBC TV 18 and CNBC Awaaz.

The steel and mines ministries are locked in a bitter turf war on amending the existing Mines and Minerals Development and Regulation (MMDR) Act.

There is a sudden surge in foreign institutional investor (FII) inflows through the participatory notes (P-notes) in the last two months.

Mobile users will pay at most Rs 19 to retain their old number each time they switch service provider.

To resolve the impasse over the implementation of its ambitious programme to educate all in the 6-14 age group over the next five years, the Centre has agreed to make concessions by picking up a larger part of the Rs 1,74,000 crore bill estimated by the ministry of human resource development.

Get ready to shell out Rs 20 lakh for the iconic Volkswagen Beetle that will hit Indian roads on December 4, courtesy a high import duty levied on the car.

Brazil's "bizarre" tax measures aimed at stemming the biggest currency rally and inflow of hot money into its capital market unnerved India's financial markets on Thursday.

Sugar cooperatives in the state might soon turn into powerhouses for rural areas if their recent proposal is accepted by the Gujarat Electricity Regulatory Commission (GERC).

As loss-hit Air India plans to rebrand itself, it may end up with a more business-like avatar of its mascot, the Maharaja — a royal in striped turban and red tunic.