Business News

Two Indian origin businessmen -- publishing software giant Adobe's Shantanu Narayen and global outsourcing major Cognizant's Francisco D'Souza -- have made to the league of young CEOs with fattest pay package in the US, as per a list compiled by Forbes.

Public sector telecom services provider MTNL slashed broadband charges on Tuesday by up to 50 per cent to increase user base in the national capital.

Oil rose on Thursday after dipping to three-month lows on fears over slowing US demand, as the market's focus returned to supply concerns in Turkey, Nigeria and Iran.

The stock market exhibited signs of consolidation at 15K level in a see-saw trade as both the key indices, Sensex and Nifty, were quoting barely steady early Thursday morning.

India's headline inflation rate, which is ruling at a 13-year high just below 12 per cent, is expected to fall below double-digits by the end of the fiscal year, a top government official said on Thursday.

McDonald's Corp said on Thursday it was considering further price increases, but would do nothing that slowed customer traffic into its global network of stores.

The Asian Development Bank is planning to hold on to its 5.2 per cent stake in Indian gas importer Petronet LNG, a bank executive said on Thursday, denying media reports that it might be about to sell.

The Olympic Games that start in Beijing on Friday will probably only enhance China's attractiveness as an investment destination, but there is still plenty that could go wrong to chill sentiment.

Asian stocks fell and government bonds rose on Thursday, as a sustained decline in oil prices could not shake a sense of gloom among investors about financial sector instability and the worsening global growth outlook.

Differences between the United States and leading developing countries India and China that toppled world trade talks last week are too complex to be quickly resolved, a top US trade official said on Wednesday.

Moody's Investors Service says that the risks confronting India's economy have grown, but not yet to the extent that the government's Baa3 foreign currency and Ba2 local currency ratings are threatened.

Jet Airways has been asked by the Delhi Consumer Commission to explain why compensation should not be given to noted columnist Kuldip Nayar, who was allegedly prevented from boarding a flight from Amritsar to Delhi.

The ministerial level talks here that attempted to clinch a global trade deal failed to achieve a breakthrough after nine long and tense days of discussions mainly due to differences between the US and India on measures to protect the livelihood concerns of poor farmers in the developing world.

The Reserve Bank of India has opted to temper growth to curb inflation but its consequences for the aam aadmi who have taken a loan to buy a home is going to be painful.

Home, consumer and other loan rates are expected to go up with Reserve Bank announcing a hawkish credit policy hiking key short-term lending rate by 0.5 per cent and mandatory cash reserve requirement by 0.25 per cent to contain runaway inflation now at 11.89 per cent.

Reserve Bank of India Governor Yaga Venugopal Reddy almost always surprises the market. This time around, bankers and economists are vertically split if he would hike the repo rate or the cash reserve ratio or do both. But sources close to RBI say it's likely that Reddy may prefer to wait and watch.

Extending losses for the second day on Friday, the Bombay Stock Exchange benchmark Sensex shed a hefty over 500 points due to aggressive selling triggered by weak global cues.

The future of manufacturing is in low-cost youthful Asian economies, and the United States and Europe should abandon ideas of propping up uncompetitive industries, Commerce and Industry Minister Kamal Nath said on Thursday.

Tax payers can now deposit income tax from the bank accounts of any person in addition to credit and debit cards, the Central Board of Direct Taxes (CBDT) said.

Commerce and Industry Minister Kamal Nath, who rejoined the WTO talks in Geneva on Wednesday, said the US must offer 'real' cuts in subsidy to its farmers and its proposal to reduce the doles was not in line with the current food prices.