Business News

Investing in property, especially a home for living, is the best bet in the prevailing environment of ballooning inflation, a top real estate industry official said.

More number of people in India are online now than earlier with the size of cyber audiences rising to over 28 million users in 2008, a growth of 27 per cent over the previous year.

The country's largest mortgage company HDFC and the largest private sector bank ICICI Bank on Monday hiked interest rates, making it more expensive for existing as well as new customers to own a house.

The country's largest mortgage company HDFC and the largest private sector bank ICICI Bank today hiked interest rates, making it more expensive for existing as well as new customers to own a house.

Pushed by higher prices of food articles including milk, cereals, tea, edible oils and some manufactured items like soaps and detergents, inflation soared to 11.42 per cent for the week ending June 14. The inflation number was higher by 0.37 per cent over the figure recorded during the previous week.

The stage is now set for an across-the-board rise in interest rates with the Reserve Bank of India hiking both the cash reserve ratio (CRR) and repo rate by a steep 50 basis points to rein in prices and keep inflationary expectations at bay.

India may fail to achieve the FDI target of 35 billion dollar in the current fiscal due to global economic slowdown and spiralling inflation led by increasing oil prices, a survey said.

Surging inflation is expected to dent the hiring prospects in India, the country rated as the most optimistic nation for employment globally, industry experts say.

India asked the oil producing countries to increase supply to the control prices as the present global inflation could not be tolerated.

Prince Charles has appealed to Asian billionaires including Indian steel tycoon Lakshmi Mittal and Tata chief Ratan Tata to help him protect the environment, preserve historic buildings and support the young unemployed throughout the Indian subcontinent.

Germany has been named the world's greenest country in a global energy report, days after the Government passed a new round of environmental laws in its effort to meet ambitious carbon dioxide reduction targets.

The Sri Lankan government has asked LIOC, the Lankan subsidiary of India's oil major Indian Oil Corporation, to reduce diesel prices on par with the country's state-run oil company, unless the government will take action against it.

India's wholesale price index rose 11.05 per cent in the 12 months to June 7, above the previous week's annual rise of 8.75 per cent, government data showed on Friday.

Leading NRI, Kartar Lalvani, has won the Master Entrepreneur Award 2008 at a gala ceremony at the Hilton Hotel in London.

Air travellers will have to pay more from Friday as major airlines on Thursday announced an increase of up to Rs 3,000 in their base fares for domestic sectors.

A UK Government-funded organisation British Midland, dedicated to attracting international businesses to the region comprising East Midlands and West Midlands, is eyeing around 40 investors from India across various sectors in the next three years.

Shweta Kumari is waiting impatiently for Tata Motors' new Nano to hit Mumbai's car showrooms later this year.

India's United Breweries Group, the second largest spirit company in the world, has developed colourless whisky and diet whisky which does not add to the cholesterol level.

With millions of pilgrims expected for this year's Haj, Saudi Arabia has ordered that vaccination certificates against diseases like meningitis, yellow fever and polio are must for issuing Umrah and Haj visas.

India on Tuesday said its top priority is to manage its own food shortages and control seven-year high inflation rather than listening to advice from those seeking lifting of ban on export of edible articles.