Business Fwire News - Page 24

Hike in duty on diesel cars to cut use of subsidised fuel: FinMin

To discourage the consumption in subsidised diesel, the Finance Ministry is looking to raise excise duty. According to Oil Ministry estimates, 15 percent of diesel consumption is accounted for by personal cars and SUVs.

Hyundai to set up diesel plant in India

Greece's domestic rating cut at the risk of eurozone exit

In another blowout to the already-battered Greece, rating agency Moody's has lowered its rating for Greece due to the rising risk of the country exiting the eurozone.

Squat-down toilets will boost Nomura, says shareholder

The unnamed shareholder submitted 100 proposals to be voted on at the meeting, including changing the company's name to Vegetable Holdings.

Tea production in Assam affected gas unavailability

Most of the tea factories in Tinsukia, Dibrugarh, Sibsagar, Jorhat and Golaghat districts in Brahmaputra Valley are facing gas scarcity.

Govt, steel makers review increasing price

The meeting was called to find out the reasons of faster movement of the prices.

Rupee at its peak so why is IT falling?

While the falling rupee should bring joy to the Indian IT sector, the eurozone turmoil has the IT bellwethers such as TCS and Infosys worried with their stocks falling upto 2 percent.

GM to be Man United's automotive sponsor for five years

GM is hoping to piggyback on Manchester United's fan base of an estimated 659 million people to boost its Chevy brand, especially in such growing Asia car markets.

Olympus to cut 2,500 jobs

The details of Olympus' redundancy plan will be released in June. The job cut will involve six percent of its total 40,000 employees.

Ajit Singh meets Ahluwalia, explores PPP model for airports

The Minister also discussed, with Ahluwalia the issue of development of four new airports under the PPP model.

CRR cut will allow banks to lower interest rates: SBI

Cash Reserve Ratio (CRR) is the portion of deposits which banks are required to keep with the Reserve Bank.

Tata Motors signs distribution pact in Myanmar

As part of the agreement, AGI will distribute trucks assembled at the Magwe facility, which the company had set up on behalf of the Myanmar government.

Eying over 45% sales growth this year in India: Audi

Audi today said it is looking at over 45 percent sales growth this year in India and is introducing its global customer-oriented programme, Audi CarLife-Advance as part of the plan.

Cash-strapped AI in talks with Air Canada to lease out 5 Boeing 777s

A team of officials from Air India would soon visit Canada to discuss modalities like leasing cost, etc in this regard, sources said, adding that the deal may be finalised as early as within next two-three weeks.

Tata Teleservices slams Assocham on dual-technology

The telecom firm has blamed Assocham of trying to harm the interest of one of its own members.

Give more power to independent directors: Sebi

Sebi whole-time member Rajeev Kumar Agarwal today said good corporate governance is the surest way to protect the interest of shareholders.

Air India strike: Ajit Singh meets striking pilots

<br /><br /> The strike has so far caused an estimated loss of over Rs 250 crore to Air India.

Bharti Airtel adds 20 lakh mobile users in April

Bharti Airtel, added 20 lakh mobile users in April, taking its total subscribers in the country to 183.3 million, data from an industry body showed on Friday.

Meeting to analyse variation in steel prices next week

Data suggest the prices of long products are higher than that of flat products.

MakeMyTrip Q4 net income up at $2.95 mn

After fuel price hike, Hyundai offers discounts on petrol cars

Hyundai announced discounts on the petrol variants of five car models which will be applicable for all cars sold until 31 May

Facebook's COO Sandberg ducks questions about IPO debacle

Facebook Chief Operating Officer Sheryl Sandberg spoke to Harvard University student, but refrained from addressing the controversy around the messy, glitch-plagued IPO debut.

Tata Comm Q4 loss widens over high costs, overseas unit

Tata Communications said it expects capital expenditure to drop to about $300 million a year.

Warburg Pincus leads $32 mn investment in Quickr

Quickr, which aims to use the cash to expand across online and mobile platforms, said existing investors that participated in this round include online retail giant eBay Inc, private equity Matrix Partners India and global venture capital firm Norwest Venture Partners.