http://www.samachaar.in Smachaar.in en-us 2010 Samachaar.In Mon, 21 May 2012 12:43:50 GMT Mon, 21 May 2012 12:43:50 GMT http://samachaar.in/Business_and_Economy/Sensex_closes_flat_on_weak_rupee_128365 Mumbai: A benchmark index for Indian equities markets Monday lost most of the early gains to close flat amid heightened investors' concern over the rupee that fell to a record low of 55.04 a dollar during trading hours.The 30-scrip sensitive in... Mon, 21 May 2012 12:43:49 GMT http://samachaar.in/Business_and_Economy/Rupee_dips_below_55_against_a_dollar_128364 Mumbai: The Indian rupee slipped to a record low of 55.05 against a dollar in the intra-day trade Monday, breaching a key psychological level, as importers, especially oil firms, increased buying of the American currency to meet month-end demand... Mon, 21 May 2012 12:42:43 GMT http://samachaar.in/Business_and_Economy/Experts_welcome_SIDBI_fund_for_service_sector_startups_128360 New Delhi: The creation by the Small Industries Development Bank of India (SIDBI) of a Rs.500 crore fund for small and medium enterprise (SME) startups in the service and retail sectors would give a major boost to an area that has long been ign... Mon, 21 May 2012 09:20:50 GMT http://samachaar.in/Business_and_Economy/US_committed_to_help_Tamil_Nadu_says_Powell_128356 Chennai: The United States is committed to help Tamil Nadu realise the goals set in its Vision 2023 document, to put the state on par with upper middle income countries in southeast Asia, said the US envoy to India.Speaking at a function organi... Mon, 21 May 2012 08:54:24 GMT http://samachaar.in/Business_and_Economy/Sensex_rises_6333_points_capital_goods_banking_realty_stocks_up_128354 Mumbai: A benchmark index for Indian equities markets was trading high around 12:30 p.m. Monday on account of buying activity picking up in capital goods, banking and realty index.The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchang... Mon, 21 May 2012 08:50:38 GMT http://samachaar.in/Business_and_Economy/Lack_of_clarity_on_software_exports_hurting_industry_Murthy_128339 Bangalore: The Indian IT industry is in a quandary for want of clarity from the government on the definition of software exports, Infosys chairman emeritus N.R. Narayana Murthy said Sunday."It has been over a year since the industry had ask... Mon, 21 May 2012 04:07:11 GMT http://samachaar.in/Business_and_Economy/Punjab_wants_central_government_to_allow_wheat_export_128327 Chandigarh: Punjab Chief Minister Parkash Singh Badal Saturday asked the central government to allow export of wheat from the state.Talking to media at Rakhra village in Patiala district, 100 km from here, Badal said Punjab was facing a proble... Sat, 19 May 2012 12:23:14 GMT http://samachaar.in/Business_and_Economy/Sensex_closes_80_points_up_on_SBI_and_rupee_shows__128292 Mumbai: A benchmark index for Indian equities market recouped intra-day losses to close over 82 points up Friday. Good buying was seen in banks, FMCG and energy scrips after the country's largest lender, the State Bank of India (SBI), reported r... Fri, 18 May 2012 12:21:24 GMT http://samachaar.in/Business_and_Economy/Rupee_dips_to_new_intraday_low_of_5491_to_a_dollar_128289 Mumbai/Kolkata: The Indian rupee slumped to a new intra-day low of 54.91 against a dollar Friday even as the Reserve Bank of India assured further intervention in the foreign exchange market to curb the slide.This is the third consecutive recor... Fri, 18 May 2012 12:18:07 GMT http://samachaar.in/Business_and_Economy/Essar_Hypermart_to_sell_1_mn_tonnes_steel_through_retail_128287 Ghaziabad (Uttar Pradesh), May 18 (IANS) Essar Steel's retail distribution division, Essar Hypermart, is expecting to sell one million tonnes of steel products through its network of sales points."We are targeting sales of one million tonne... Fri, 18 May 2012 12:12:01 GMT http://samachaar.in/Business_and_Economy/City_Union_Bank_targets_2030_percent_growth_128283 Chennai: Privately-owned City Union Bank hopes to log a growth of 20-30 percent this fiscal despite the economic outlook not being encouraging while the net interest margin is expected to go down slightly, said a top company official."We ... Fri, 18 May 2012 11:42:59 GMT http://samachaar.in/Business_and_Economy/Air_India_losses_mount_to_Rs200_crore_as_crisis_continues_128278 New Delhi/Mumbai: The crisis in Air India raged on for the 11th day Friday and the national carrier's losses mounted to Rs.200 crore as the impasse between agitating pilots and the management continued."Contingency plan is in place. We ar... Fri, 18 May 2012 10:54:52 GMT http://samachaar.in/Business_and_Economy/India_can_grow_89_percent_for_20_years_Montek_Ahluwalia_128277 New York: India can grow at between 8 or 9 percent for the next 20 years with a supportive global environment, its Planning Commission's Deputy Chairman Montek Singh Ahluwalia has said."In the five years prior to the crisis, the Indian econ... Fri, 18 May 2012 10:53:57 GMT http://samachaar.in/Business_and_Economy/SBI_quarterly_profit_soars_to_Rs4050_crore_128274 Mumbai: The country's largest lender State Bank of India (SBI) Friday reported a massive hike in net profit at Rs.4,050 crore for the quarter ended March 31 on account of decline in provisions of bad loans and strong credit demand.The bank had ... Fri, 18 May 2012 10:50:20 GMT http://samachaar.in/Business_and_Economy/IndiaUAE_joint_task_force_to_explore_investments_128273 New Delhi: To boost their $57-billion bilateral trade, India and United Arab Emirates (UAE) Friday decided to set up a high-level joint task force to further explore investment opportunities, including in the energy sector. This decision was ta... Fri, 18 May 2012 10:48:56 GMT http://samachaar.in/Business_and_Economy/Retail_inflation_surges_to_1036_percent_in_April_128270 New Delhi: India's inflation based on retail prices surged 10.36 percent in April as compared to 9.38 percent in the previous month due to a sharp increase in prices of vegetables, edible oil and milk products, government data showed Friday.The ... Fri, 18 May 2012 08:51:14 GMT http://samachaar.in/Business_and_Economy/Sensex_slumps_161_points_in_noon_trade_128269 New Delhi: A benchmark index for Indian equities markets was trading over 161 points low from its previous close around 12.30 p.m. Friday as automobile, capital goods and metal stocks came under intense selling pressure.The 30-scrip sensitive in... Fri, 18 May 2012 08:38:42 GMT http://samachaar.in/Politics/Government_wants_consensus_on_rules_on_internet_content_128261 New Delhi: The government Thursday said it does not stand for censorship and regulation of free speech and assured Rajya Sabha members that it will evolve a consensus on guidelines on internet content after talking to various stakeholders, incl... Fri, 18 May 2012 04:43:44 GMT http://samachaar.in/Business_and_Economy/Facebook_sets_IPO_price_at_38_128259 New York: Facebook Thursday set the price for its initial public offering (IPO) at $38 per share.The price came one day before Facebook begins to trade on the Nasdaq stock exchange Friday under the symbol "FB".At $38 dollars a share, the... Fri, 18 May 2012 04:38:44 GMT http://samachaar.in/Business_and_Economy/Facebook_set_to_raise_16_bn_with_largest_tech_IPO_128257 Washington: Pricing its IPO at $38 a share, Facebook, the highly popular social networking site that has over 45 million users in India, is expected to raise $16 billion, making it the largest tech IPO in history.It's reported to be the third l... Fri, 18 May 2012 04:29:51 GMT http://samachaar.in/Business_and_Economy/Dust_storm_hits_Delhi_delays_flights_128254 New Delhi: A layer of dust covered the capital Thursday bringing down visibility and delaying the landing of flights."A 60 km per hour wind between 4.30-7.30 a.m. brought with it a lot of dust. The visibility dropped to 400 metres at Indira ... Thu, 17 May 2012 12:46:56 GMT http://samachaar.in/Business_and_Economy/Uttar_Pradesh_to_add_500_MW_of_power_by_June_128251 Lucknow: Faced with a scorching summer and a looming power crisis, the Uttar Pradesh government Thursday announced that two new thermal power units - unit 9 of 250 MW Harduaganj power station and unit 5 of the 250 MW Parichha project - would be ... Thu, 17 May 2012 12:33:42 GMT http://samachaar.in/Business_and_Economy/Indian_IT_experts_devise_technique_to_fight_deadly_bots_128250 New Delhi: Indian computer experts have devised a technique to smoke out bots and deter their malicious programmers from taking over your desk computer or laptop, stealing passwords or vital information in your hard drive even without your susp... Thu, 17 May 2012 12:32:56 GMT http://samachaar.in/Business_and_Economy/Sean_Connery_to_ring_NYSE_bell_128247 New York: Sean Connery, the Scottish actor and producer, and Louise Richardson, principal and vice-chancellor of the University of St. Andrews, will ring the opening bell for the New York Stock Exchange (NYSE) Thursday morning.  This hono... Thu, 17 May 2012 12:04:40 GMT http://samachaar.in/Business_and_Economy/ISB_signs_MoU_to_provide_executive_education_in_Middle_East_128240 Hyderabad: The Indian School of Business (ISB) Thursday signed a Memorandum of Understanding (MoU) with the Bahwan CyberTek (BCT) Group of Oman, to provide executive education courses in the Middle East.Under the agreement, the Centre for E... Thu, 17 May 2012 11:29:08 GMT http://samachaar.in/Business_and_Economy/Air_India_crisis_enters_10th_day_losses_touch_Rs188_crore_128235 New Delhi/Mumbai: The Air India crisis entered its 10th day Thursday as the impasse between agitating pilots and the management continued and the carrier's losses mounted to Rs.188 crore."We are currently operating under the contingency pla... Thu, 17 May 2012 11:11:12 GMT http://samachaar.in/Business_and_Economy/Bajaj_Autos_fourth_quarter_net_profit_down_45_percent_128233 Mumbai: Two- and three-wheeler major Bajaj Auto Thursday reported a decline of 44.87 percent in its net profit for the fourth quarter of last fiscal which stood at Rs.772 crore from Rs.1,400.39 crore in the like period of 2010-11.The automobile... Thu, 17 May 2012 09:13:51 GMT http://samachaar.in/Business_and_Economy/Rupee_recovers_from_record_low_Sensex_up_128228 Mumbai: On the back of a rebound in equity markets, the Indian rupee recovered by almost 30 paise Thursday from the previous day's record intra-day low of 54.52 against the dollar due to selling of the American currency by banks.The rupee rose t... Thu, 17 May 2012 08:53:48 GMT http://samachaar.in/Business_and_Economy/Sensex_rises_120_points_FMCG_realty_metal_stocks_up_128227 Mumbai: A benchmark index for Indian equities markets was trading high around 12:30 p.m. Thursday on account of buying activity picking up in fast moving consumer goods (FMCG), realty and metal stocks.The 30-scrip sensitive index (Sensex) of th... Thu, 17 May 2012 08:51:22 GMT http://samachaar.in/Business_and_Economy/Kenya_Airways_launches_NairobiDelhi_flight_128216 New Delhi: To capture the growing traffic between India and Africa, Kenya Airways Wednesday launched a direct Nairobi-New Delhi flight with one-way fare of Rs.22,000-Rs.28,000."We have waited long to start this route. We are confident this... Thu, 17 May 2012 04:33:54 GMT http://samachaar.in/Business_and_Economy/Sensex_tanks_298_points_metal_auto_stocks_fall_128214 Mumbai: A benchmark index of Indian equities fell 298 points Wednesday as concern over eurozone and a depreciating rupee weighed on sentiments. Metals, auto and consumer durable stocks came under intense selling on heavy funds outflow.The 30-sc... Wed, 16 May 2012 12:34:49 GMT http://samachaar.in/Business_and_Economy/Rupee_hits_record_low_of_5450_against_dollar_128213 Mumbai: The Indian rupee slumped to a record low of 54.50 against the US dollar Wednesday with risk aversion in global markets adding to the pressure, even as Finance Minister Pranab Mukherjee hinted at new austerity measures and maintained that... Wed, 16 May 2012 12:32:06 GMT http://samachaar.in/Business_and_Economy/Slowdown_a_concern_but_Indias_growth_story_intact_Pranab_128211 New Delhi: Blaming the eurozone crisis for the economic slowdown and the sharp drop in the stock markets, Finance Minister Pranab Mukherjee Wednesday said India's growth story was intact and the government was taking measures to revive growth an... Wed, 16 May 2012 12:22:50 GMT http://samachaar.in/Business_and_Economy/_UP_farmers_seek_Big_Bs_help_to_write_off_debts_128206 Lucknow: Days after Amitabh Bachchan wrote off the debts of 90 farmers in Maharashtra's Vidarbha region, those in Uttar Pradesh's Bundelkhand area have written to the Bollywood star in the hope that he would do the same for them.  In a le... Wed, 16 May 2012 05:19:25 GMT http://samachaar.in/Business_and_Economy/Job_shortage_parttimers_on_rise_in_Britain_128204 London: The number of men taking up part-time work due to being unable to find a full-time job in Britain has more than doubled in the last four years, says a new study.  Nearly 600,000 men were working part-time in December while looking... Wed, 16 May 2012 05:14:38 GMT http://samachaar.in/International/India_improves_ranking_in_trade_logistics_performance__128200 Washington: Global trade logistics performance slowed down over the last two years amid the global recession but India - ranked 46th among 155 countries - and others that pursued aggressive reforms continued to improve, according to the World ... Wed, 16 May 2012 04:41:15 GMT http://samachaar.in/Business_and_Economy/__Suzuki_looking_at_India_as_a_twowheeler_export_hub_128196 Kolkata: Japanese two-wheeler major Suzuki Motor Corporation Tuesday said it is looking at the possibility of making India an export hub. "We have recently started exports (of two-wheelers) from India to Nepal and Columbia...we will defin... Tue, 15 May 2012 12:10:55 GMT http://samachaar.in/Business_and_Economy/_MercedesBenz_launches_new_MClass_in_India_128193 New Delhi: German luxury car maker Mercedes-Benz Tuesday launched its third generation sports utility vehicle M-Class priced at Rs.56.9 lakh (ex-showroom Delhi). "At the start of this year, we had promised to introduce exciting new models... Tue, 15 May 2012 12:04:33 GMT http://samachaar.in/Business_and_Economy/Sensex_rises_capital_goods_metal_and_IT_stocks_buying_picks_up_128190 Mumbai: A benchmark index for Indian equities markets was trading high from its previous close around noon Tuesday on account of buying activity picking up in capital goods, metal and IT stocks.The 30-scrip sensitive index (Sensex) of the Bomba... Tue, 15 May 2012 11:10:59 GMT http://samachaar.in/Business_and_Economy/AircelMaxis_deal_Government_denies_wrongdoing__128183 New Delhi: Amidst allegations from opposition over Home Minister P. Chidambaram's involvement in the 2006 Aircel-Maxis telecom deal, the government Monday denied any wrongdoing in the deal.Chidambaram gave a clarification in the Rajya Sabha af... Mon, 14 May 2012 12:35:07 GMT http://samachaar.in/Business_and_Economy/GSK_Healthcare_aims_at_doubledigit_market_share_in_oral_care_128182 Kolkata: GlaxoSmithKline Consumer Healthcare (GSKCH), which re-entered the Indian toothpaste market last year launching Sensodyne, hopes to increase its share to double-digits from the current 2 percent, a top company official said Monday. &qu... Mon, 14 May 2012 12:33:01 GMT http://samachaar.in/Business_and_Economy/Moodys_downgrades_LIC_outlook_stable_128181 New Delhi: Credit ratings agency Moody's Investors Service Monday downgraded the state-run Life Insurance Corporation of India (LIC) to the lowest investment grade, in line with the sovereign ratings, due to the firm's high exposure to governmen... Mon, 14 May 2012 12:21:49 GMT http://samachaar.in/Business_and_Economy/Sensex_tanks_77_points_metal_auto_power_stocks_hit__128179 Mumbai: A benchmark index for Indian equities markets fell 77 points Monday at the release of a higher-than-expected inflation data for April. Metal, automobile and power stocks came under intense selling pressure.Amid volatile trade, the 30-sc... Mon, 14 May 2012 12:19:00 GMT http://samachaar.in/Business_and_Economy/Moodys_downgrades_ICICI_Bank_HDFC_Bank_Axis_Bank_128176 New Delhi: Credit ratings agency Moody's Monday downgraded India's three top private sector lenders -- ICICI Bank, HDFC Bank and Axis Bank -- on growing concerns over the country's sovereign debt ratings.Moody's lowered the standalone ratings of... Mon, 14 May 2012 12:11:51 GMT http://samachaar.in/Business_and_Economy/__Indias_forex_reserves_fall_by_2187_billion_128162 Mumbai: India's foreign exchange (forex) reserves declined by $2.187 billion to $293.17 billion for the week ended May 4, official data showed. Forex reserves had risen by $758.3 million to $295.36 billion during the previous week. Foreign cur... Sat, 12 May 2012 11:50:09 GMT http://samachaar.in/Business_and_Economy/Air_India_pilots_strike_enters_fifth_day_128153 Mumbai: Four international flights were cancelled and several domestic flights re-scheduled Saturday as the Air India pilots continued their strike for the fifth day, leaving passengers stranded at the airport terminals.The flights cancelled... Sat, 12 May 2012 06:52:00 GMT http://samachaar.in/Business_and_Economy/Airtel_ranked_best_operator_by_Nigerian_telecom_regulator_128142 New Delhi/Lagos: Nigerian telecom regulator has ranked Indian telecom giant Bharti Airtel's Nigerian unit -- Airtel Nigeria -- as the best operator for good quality of service.Of the four GSM operators in Nigeria, Airtel recorded the best pe... Fri, 11 May 2012 11:27:14 GMT http://samachaar.in/Business_and_Economy/Airlines_advised_not_to_hike_fares_DGCA_128141 New Delhi: Amidst crises in Air India and Kingfisher Airlines, the aviation regulator has warned other airlines not to hike fares, a day after the Rajya Sabha was rocked over the issue of rising cost of air travel."We have advised the airl... Fri, 11 May 2012 11:25:52 GMT http://samachaar.in/Business_and_Economy/_JP_Morgan_announces_trading_losses_128137 New York: JP Morgan Chase, the largest bank in the US, acknowledged Thursday trading losses of $2 billion for the past six weeks. The losses came from derivatives bets which have gone wrong in the bank's Chief Investment Office, a unit that ma... Fri, 11 May 2012 07:06:19 GMT http://samachaar.in/Business_and_Economy/US_Postal_Service_posts_huge_loss_128135 Washington: The US Postal Service (USPS) Thursday reported a $3.2 billion loss for the first three months of this year, $1 billion more than the same period last year. The mail agency projected a record $14 billion loss for the 12 months endin... Fri, 11 May 2012 07:04:37 GMT