Business News

United Bank IPO to hit market by February

State-run United Bank of India (UBI) Friday received the central government's nod for its maiden initial public offering (IPO), which will be launched by the first week of February next year.10:00 PM on December 04

Uttar Pradesh gets Rs.1,400-cr investments

Uttar Pradesh received investments worth Rs.1,400 crore in the micro, small and medium enterprise (MSME) sector in 2009, a government official said here Friday.8:05 PM on December 04

Commitment to Dadri power project intact: Reliance Power

The Allahabad High Court's decision to restore the rights of farmers to protest acquisition of their land for Dadri power plant neither dilutes the commitment to the project nor is it a setback, Reliance Power said Friday.8:04 PM on December 04

PM welcomes progress on 3G auctions

Prime Minister Manmohan Singh Friday said he was happy that the process to auction third generation (3G) spectrum was on track after the defence ministry agreed to vacate 10 MHz of radio waves held by the armed forces.8:02 PM on December 04

Closure of Orissa mines hit iron ore supply to Paradip port

The closure and suspension of work in more than 50 iron ore mines in Orissa over the past month has hit supplies to Paradip port for export, a port official said.8:00 PM on December 04

India to grow 8-9 percent in next two years: World Bank

India's growth rate over the next couple of years will be 8-9 percent, World Bank president Robert Zoellick said here Friday.6:06 PM on December 04

Sensex ends marginally lower

A key Indian equities index shut shop marginally in the red Friday with major auto stocks coming under selling pressure.6:06 PM on December 04

Foreign investment inflow to fall this fiscal: Minister

India will likely attract foreign direct investments (FDI) worth $18 billion in the current fiscal, down from $27.32 billion it received in 2008-09, Commerce and Industry Minister Anand Sharma said Friday.6:05 PM on December 04

CAT schedule extended by one day

After the online Common Admission Test collapsed in several places, creating confusion among thousands of B-school aspirants, the CAT authorities Friday extended the exam schedule by one day.6:02 PM on December 04

Sensex ends 0.49 percent down

A key Indian equities index shut shop marginally in the red Friday -- 0.49 percent down -- with major auto stocks coming under selling pressure.6:02 PM on December 04

Aerospace major EADS starts research unit in India

European Aeronautic Defence and Space Co (EADS), which manufactures civil and military aircraft, communications systems, missiles, space rockets and satellites, has commenced research operations here.6:00 PM on December 04

$1-bn World Bank loan sought for urban development

India has approached the World Bank for a $1-billion loan to fund urban development projects, Minister of State for Urban Development Saugata Roy told the Lok Sabha Friday.6:00 PM on December 04

Slow start to India international fashion week

Empty seats, few buyers and technical glitches -- the Oxybleach India International Fashion Week (OIIFW) got off to a rather disappointing start here. But the organisers hope the event will lead to exchange of ideas among designers.4:04 PM on December 04

Sensex slips, 49 points in red

A key Indian equities index slipped into the red Friday afternoon after staying positive through the morning session.4:03 PM on December 04

India to grow at 8 percent next fiscal: Goldman Sachs

Investment banker Goldman Sachs Friday said India would post a growth of over 8 percent in 2010-11 and 8.7 percent the following fiscal, thanks to strong domestic demand and greater global liquidity.4:02 PM on December 04