Rupee headwinds to hit IT exports, growth seen lower at 10-12% in FY17
Feb 05, 2016 at 07:20 | Source:
Export growth in the country's IT-BPO sector is expected to be slower at 10-12 percent next fiscal hit by currency fluctuations, especially the weakening of the rupee against the US dollar, Nasscom said on Thursday.The industry is looking at 12.3 per...
Tata Steel posts steep third quarter loss on cheap imports | Reuters
Feb 04, 2016 at 23:45 | Source:
MUMBAI Tata Steel Ltd swung to a hefty third quarter loss on Thursday, blaming cheap Chinese imports for having to axe 3,000 jobs at its UK unit, as it tries to slim down to cope with the global steel crisis.The European business of Tata Steel, the ...
DLF Q3 net profit up 24 percent as rental income rises| Reuters
Feb 04, 2016 at 02:45 | Source:
MUMBAI DLF Ltd(DLF.NS), India's biggest listed real-estate developer, reported a 24 percent rise in quarterly profit, helped by a surge in income from commercial rental business even as demand for residential property remained weak.The company's net ...
India's KIOCL considers building iron ore plants in Iran| Reuters
Feb 04, 2016 at 00:30 | Source:
NEW DELHI/MANILA State-run company KIOCL is considering building an iron ore pellet complex in Iran at a cost of about $59 million and is in talks to sell more than 2 million tonnes of the steelmaking raw material to the Gulf country now free from tr...
JSW Steel reports Q3 loss; lowers output, sales target | Reuters
Jan 30, 2016 at 00:15 | Source:
MUMBAI JSW Steel Ltd said on Friday that its output and sales for the fiscal year to March will fall short of its target due to a delay in capacity addition, as it reported a $136 million quarterly loss.Steelmakers globally have been hit by weak pric...
Investors chase gold bonds in falling stock market| Reuters
Jan 29, 2016 at 01:30 | Source:
MUMBAI The second tranche of India's sovereign gold bond received a better response than the first, a government official said, as a price discount and its safe haven appeal amid a slide in equities attracted investors.The world's second biggest gold...
LeEco plans to start selling VR headsets in India| Reuters
Jan 29, 2016 at 01:15 | Source:
Chinese consumer electronics maker LeEco plans to start selling virtual reality headsets and launch smart TVs in India in the June quarter, months after entering the country with its smartphone range, a company executive said.LeEco's VR headset, Le 3...
IDFC Bank sees bad loans rising, no impact on earnings | Reuters
Jan 28, 2016 at 00:30 | Source:
MUMBAI IDFC Bank Ltd, one of India's two newest banks, expects its gross bad loans to increase in the coming quarters although that will not hit earnings as it has made adequate provisions, it said on Wednesday.IDFC Bank, a unit of infrastructure len...
NALCO revives $2 billion Iran smelter plan as sanctions end| Reuters
Jan 19, 2016 at 00:15 | Source:
NEW DELHI National Aluminium Company NALCO(NALU.NS) will soon send an official team to Iran to explore setting up a smelter complex worth about $2 billion, its boss said, as world powers lift sanctions on Iran that had made negotiations difficult.NAL...
PM Modi launches $1.5 bln fund to support start-ups| Reuters
Jan 16, 2016 at 21:45 | Source:
NEW DELHI Prime Minister Narendra Modi launched a number of initiatives on Saturday to support the country's start-ups, including a 100 billion rupee ($1.5 billion) fund and a string of tax breaks for both the companies and their investors.India, whi...
PM Modi launches $1.5 bln fund in push to support start-ups| Reuters
Jan 16, 2016 at 20:45 | Source:
New Delhi Prime Minister Narendra Modi launched a string of initiatives on Saturday to support the country's start-ups, including a 100 billion rupee ($1.48 billion) fund and a string of tax and compliance breaks.Modi said start-ups would not face co...