Business News

India adds 27.45 mn more mobile subscribers

India added 27.45 million mobile subscribers in the quarter ended March 31, taking the total number of connections to 261.07 million, new data showed Thursday.9:03 PM on July 03

BJP shutdown: clashes in some states, quiet in others

It acquired an ugly communal edge in Madhya Pradesh where two people were killed and led to highways being blocked and trains being stopped elsewhere -- the BJP-VHP shutdown against the decision to cancel land allotted to the Amarnath shrine in Jammu and Kashmir hit some states, leaving others unaffected.9:02 PM on July 03

Carborundum Universal acquires South African firm

Abrasive manufacturer Carborundum Universal Ltd (Cumi) is acquiring 51 percent stake in the $16 million Foskor Zirconia Ltd, a South Africa-based zirconia and fumed silica maker.9:00 PM on July 03

'Small cities fail to attract huge investments in IT sector'

Poor infrastructure facilities limit the potential of the small cities in Tamil Nadu in attracting major investments in IT sector, though they offer huge cost advantage compared to big cities, according to a report.8:36 PM on July 03

Reliance Money forays into Saudi Arabia

Reliance Money, the brokering arm of the Anil Dhirubhai Ambani Group (ADAG), has launched a joint venture in Saudi Arabia with Bahrain-based advisory firm Riyada Consulting.8:36 PM on July 03

KLM opts for Kerala firm's crew management solution

IBS Software Services, a provider of information technology (IT) solutions to the travel, transportation and logistics industry, has signed an agreement with KLM Royal Dutch Airlines for providing a crew management solution.8:34 PM on July 03

Ashok Leyland sales up 9.7 percent in June

India's second largest commercial vehicle manufacturerAshok Leyland has posted a 9.7 percent increase in volumes in June 2008 as compared to the corresponding period last year.8:32 PM on July 03

Government, striking truckers hold talks

The government Thursday evening held another round of talks with a transporters' association to end their two-day old strike.8:32 PM on July 03

Steel firms agree to cut prices and exports

India's steel makers Thursday agreed to cut prices of steel pipes and tubes by 10 percent to help fight inflation, and to cut exports of hot-rolled coil to increase local supplies.8:31 PM on July 03

Bank of Rajasthan hikes rates on non-resident deposits

A day after hiking its interest rate on term deposits, Bank of Rajasthan (BoR), Thursday announced a similar revision in its non-resident (external) rupee deposits (NRE), and foreign currency non-resident deposits (banks) or FCNR(B).8:31 PM on July 03

Licences of six developers cancelled in Lucknow

The Lucknow Development Authority (LDA) has decided to cancel the licenses of major private builders, engaged in developing integrated townships in that city, on grounds of violating construction norms and providing wrong information in the registration form.7:02 PM on July 03

Promoters raise stake in Tube Investments

Promoters of the city-based Murugappa Group have increased their stake in their flagship company, the Rs.17.62-billion Tube Investments of India Ltd (TI), to a controlling 51.64 percent.7:01 PM on July 03

Efficiency key to airlines' profitability: KPMG

Airlines in India could be profitable despite rising aviation fuel prices, if they focussed on improving efficiency, says a global consultancy firm.7:01 PM on July 03

Tripura asks for adequate funds for 'Vision 2020' plan

A day after Prime Minister Manmohan Singh unveiled a roadmap for alround developemnt of the northeast, Tripura Chief Minister Manik Sarkar asked the central government to allocate adequate funds for the project.6:45 PM on July 03

Tamil Nadu targets 9 percent growth during 2007-12

The Tamil Nadu government is targeting a nine percent economic growth during the 11th Five-year Plan (2007-12) in line with the central government's target.6:43 PM on July 03