Cipla doyen Y K Hamied to step downCipla chairman and managing director Dr Y K Hamied — instrumental in making healthcare affordable by launching generic versions of AIDS, cancer and other life-saving medicines — has decided to call it a day as the managing director.
Govt dept bats for lower taxes on cosAmid talk of higher tax rates, the commerce & industry ministry is pitching for a reduction in taxes for companies, arguing the move will generate higher investible surplus by the corporate sector.
Hero Moto's workers seek Rs 1L/month salaryWorkers negotiating a wage settlement at Hero MotoCorp have demanded doubling of monthly salary to near Rs 1 lakh, apart from other benefits like subsidized housing as well as interest-free loans running up to Rs 10 lakh.
P Chidambaram backs high growth for welfareSustained high growth is the key to enabling a country to emerge as a "comprehensive national power", finance minister P Chidambaram said on Wednesday as he underlined the need for growth-boosting policies.
RBS fined $612m to settle Libor probeState-rescued Royal Bank of Scotland will pay fines totalling $612 millionto US and British regulators to settle allegations of Libor interest rate rigging, it announced on Wednesday.
Rupee down 3 paise against dollarThe rupee today slipped from around four month high level to close three paise down at 53.16 due to fag-end dollar demand from oil importers and strengthening of the US currency against euro.
Make PAN must for high-value gold buy: RBI panelSeeking to check demand of gold, a RBI committee today proposed a slew of measures like mandatory quoting of PAN numbers for high-value purchases, restriction on gold loans and check on NBFC branches dealing with gold loans.
Will decide on sugar decontrol before Budget: GovtThe Centre will take a decision on giving freedom to the Rs 80,000 crore sugar industry to sell the sweetener in open market before Budget, food minister KV Thomas said today.
Sensex falls for 5th day; down 20 pointsFalling for the fifth straight day, the BSE benchmark Sensex today closed 20 points lower after wiping out initial gains on a bout of profit-selling in bluechips like NTPC, CIL, ICICI Bank and L&T.
Rupee trims initial gain against dollar; still up 10 paiseThe rupee trimmed initial gains against the US dollar this morning amid selling of the American currency by banks and exporters and capital inflows from foreign funds as well as a weak dollar in the overseas forex market.
Sensex trims initial gainsThe BSE benchmark Sensex up by 52 points in the late morning trade on the back of fresh buying mainly in metal, realty and consumer durable sectors on higher global cues coupled with persistent foreign capital inflows.
Rupee gains 16 paise against dollarThe rupee strengthened by 16 paise, near four-month high, to 52.97 against the US dollar in early trade on Wednesday.
Sensex recovers over 86 pointsThe BSE benchmark Sensex recovered by over 86 points in early trade today on emergence of buying by funds and retailers amid a firming Asian trend.
Taxes will be collected in just and fair manner: Finance ministryFinance Ministry today assured taxpayers that efforts would be made to end hostile relationships between officials and assessees and collect revenue in a "just and fair manner".
'Service sector growth fastest in a year'Activity in India's service sector expanded at the fastest pace in a year last month, driven by rising foreign orders, but businesses were a little less optimistic about the future, a survey showed on Tuesday.
Agencies blamed for high ratings to subprime bondsS&P, Moody's and Fitch have long faced criticism from investors, politicians and regulators for assigning high ratings to thousands of subprime and other mortgage securities that quickly turned sour.
Bharti to buy Alcatel-Lucent stake in JVBharti Airtel, India's largest private telecom firm, on Tuesday said it will buy out Alcatel-Lucent's entire stake in a joint venture company that manages the fixed-line and broadband network for Bharti.
Times Network ties up with MSMDIn a significant move aimed at spurring the growth of its Pay TV business, Times Television Network (TTN) has entered into a strategic alliance with India's leading distribution company MSM Discovery Pvt Ltd.
Refineries denied insurance over Iran crudeMRPL and Chennai Petroleum Corporation are facing a crisis situation with reinsurers stating that their coverage will not be available to any company processing Iranian crude.
Banks may have to reissue lakhs of credit cardsThere is, however, hope for consumers who feel they have been cheated.Banking sources say that where it is established that the consumer is not at fault, they don't have to bear the loss.
Hiranandani offers to buy out London-listed arm HircoRealty firm Hiranandani has offered to buy out its London AIM-listed investment arm Hirco Plc.
V-Mart IPO fully subscribedThe initial public offer of New Delhi-based department store chain V-Mart Retail was subscribed 1.19 times largely helped by institutional investors.
Kingfisher Airlines posts Rs 755cr loss in Q3Grounded Kingfisher Airlines (KFA) on Tuesday reported a loss of Rs 755 crore in the October-December, 2012, period - the first quarter when it did not fly.
GSK hikes stake in India arm to 73%British drug giant GlaxoSmithKline plc (GSK) has increased its stake in GlaxoSmithKline Consumer Healthcare, its publicly-listed consumer healthcare subsidiary in India, from 43.2% to 72.5% in a transaction valued at Rs 4,800 crore.
New India mulls householder productsNew India Assurance, the country's largest non-life insurer, is planning to come out with householder insurance products in anticipation that the government might come out with some kind of tax breaks.
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