Business News

New Delhi, Nov 7 (PTI) Wheat product prices rose up to Rs 25 per 50 kg on the wholesale grains market today on increased offtake by stockists and retailer to meet the on-going marriage season demand amid firming trend in wheat.

New Delhi, Nov 7 (PTI) Copper prices strengthened by Rs 2 per kg on the non-ferrous metal market in the national capital today on increased demand by consuming industries amid firming global trend.

Mumbai, Nov 7 (PTI) Gold prices continued its record journey as the metal scaled to an all-time high of Rs 16,665 per 10 gram at the bullion market here today, sparked by aggressive buying from stockists and traders following a sharp rally in the international markets.

New Delhi, Nov 7 (PTI) Steady conditions developed on the on the wholesale steel and iron market today as prices moved in a tight range on subdued demand and settled around previous levels.

Key indices Sensex and Nifty bounced by nearly 2.0 per cent over the week even as global markets are expected to influence activity at home amid possibility of FII pullout at the year-end.

New Delhi, Nov 7 (IANS) Delhi Metro's Noida link may be opened to the public Nov 13, if necessary safety checks are complete, a Delhi Metro Rail Corporation (DMRC) official said Saturday.

Chennai, Nov 7 (IANS) Incessant rain in Tamil Nadu over the past few days has not only thrown life out of gear in the state but also sent vegetable prices soaring. Thirteen people have died due to wall and roof collapse or electrocution so far.

New Delhi, Nov 7 (IANS) Discussing a report by software industry group Nasscom which says that 75 percent engineering students in India are unemployable, education experts here Saturday said that the Indian higher education system must give skill building and practical training equal importance as academics to give them an edge.

Come April 2010, companies will have to shell out 20 to 30 per cent more to buy insurance covers for property, aviation, engineering, marine insurance and business interruption. Reason: reinsurance rates are hardening, and are likely to go up even more.

Improved retail investor participation, coupled with high volatility in the market, has led to a 115 per cent jump in equity market volumes in the February to September period. This has also resulted in improved revenue for brokerages, say market players.

Thimphu, Nov 7 (IANS) Bangladesh Prime Minister Sheikh Hasina has sought a road to Bhutan through India for bettr trade and people-to-people contact. She told her hosts at this Bhutanese capital that India had accepted the idea in principle.

Frankfurt, Nov 7 (DPA) The European chief of General Motors (GM), Carl-Peter Forster, may switch to Indian car manufacturer Tata, German media reported Saturday.

Following are comments on Saturday from Group of 20 finance ministers, central bank policymakers and officials meeting in Scotland.

China is not counting on a quick rebound in the world economy to fuel growth but will concentrate instead on boosting home-grown demand, Yao Jingyuan, chief economist at the National Bureau of Statistics, said on Saturday.

Dhaka, Nov 7 (IANS) Former Bangladesh prime minister Khaleda Zia has blamed 'instigation by competitor foreign countries' for the recurring violence in the country's money-spinning garment sector.

New York, Nov 4 (DPA) US consumer goods and pharmaceutical company Johnson & Johnson said Tuesday it would cut around 8,000 jobs in a bid to trim costs in the wake of the recession.

Mumbai, Nov 3 (IANS) A benchmark index of the Indian equities markets fell sharply by 491 points to touch a two-month low Tuesday, with investors dumping stocks especially of realty, metals, energy and power companies.

New York, Nov 3 (DPA) US stocks started the week stronger Monday amid a surge of positive economic news and surprising profits for carmaker Ford.

Mumbai, Oct 30 (IANS) A key Indian equity index Friday closed 0.97 percent down for the fifth consecutive day to end below 16,000 points.

Mumbai, Oct 30 (IANS) A key Indian equity index Friday closed 1.07 percent down for the fifth consecutive day to end below the 16,000 points.

United Commercial Bank, a big San Francisco bank with branches in China, was closed by state regulators on Friday and its banking operations were acquired by East West Bancorp Inc, also active in both nations.

Chinese state-owned firms will pay a smaller cumulative dividend to the central government this year because their profits have fallen, the Economic Observer reported on Saturday.

Private equity firm Blackstone Group LP posted a forecast-beating quarterly profit on Friday and said it is gearing up for more deals and IPOs as the lending and equity markets recover.

Warren Buffett's Berkshire Hathaway Inc on Friday said quarterly earnings tripled, as rising stock markets boosted its investment holdings and a quiet hurricane season contributed to higher insurance profit.

Freddie Mac, the second largest provider of U.S. residential mortgage funding, on Friday posted a loss of $5 billion in the third quarter and predicted it would need more government support amid a "prolonged deterioration" in housing.