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ITC Q4 net profit up 3.65% at Rs 2,361.18 cr, growth in cigarette business lukewarm

May 22, 2015 at 18:20 | Source: FirstPost

New Delhi: Diversified group ITC today reported a modest 3.65 percent increase in its standalone net profit at Rs 2,361.18 crore for the fourth quarter ended 31 March 2015 owing to muted growth in cigarette business and decline in agri segment revenu...

Modi's one year: Arun Jaitely's all-is-well rant conveniently misses unpleasant part

May 22, 2015 at 15:51 | Source: FirstPost

Finance minister Arun Jaitelys press conference on Friday giving a round-up of the Narendra Modi governments one-year performance exhibited his mastery of presenting all the good things in a convincing tone, be it the intent to push tax reforms, rein...

Merkel, Hollande urge Tsipras to complete current bailout| Reuters

May 22, 2015 at 06:15 | Source: FirstPost

RIGA Greek Prime Minister Alexis Tsipras held talks on Athens' debt crisis with the German and French leaders but won little more in public than a reminder he needs to do more to secure funds urgently needed to avert bankruptcy."The discussions ...

Merkel, Hollande and Tsipras to meet in Riga to give push to debt talks| Reuters

May 22, 2015 at 01:31 | Source: FirstPost

RIGA German Chancellor Angela Merkel and French President Francois Hollande aim to outline solutions to the Greek debt crisis in talks with Greek Prime Minister Alexis Tsipras later on Thursday, Hollande said.The new Greek government has held four mo...

Uncertainty over Nokia's Chennai mobile plant, Essar pulls out of race for unit

May 21, 2015 at 15:45 | Source: FirstPost

New Delhi: Indian conglomerate Essar Group today said it is no longer interested in buying Nokia's Chennai mobile manufacturing unit."In recent times there has been a spate of media reports on Essar acquiring Nokia's Chennai plant. Essar confirm...

SpiceJet seeks to infuse Rs 300 cr for fleet expansion; appoints Ajay, Shiwani as directors

May 21, 2015 at 14:58 | Source: FirstPost

Low-cost carrier SpiceJet Ltd, which came close to collapsing in December after running out of cash to pay its creditors, is looking to raise an additional Rs 300 crore ($47 million) and increase its fleet size to 45-50 aircraft by the end of fiscal ...

Narayana Murthy praises Modi, seeks people's support to PM's endeavours

May 21, 2015 at 07:55 | Source: FirstPost

New Delhi: Praising the Narendra Modi government, IT czar NR Narayana Murthy on Wednesday said a lot of good things have happened in the last one year and the Prime Minister should be supported in his endeavours."We have a PM who is enthusiastic...

Arun Jaitley's disinvestment act is looking better than Pranab's or Chidu's

May 20, 2015 at 20:26 | Source: FirstPost

Finance Minister Arun Jaitley needs to be complimented for correcting 20 years of a stop-go approach to disinvestment, where the Centre wakes up to the need to sell public sector shares only after half the year is over. Not surprisingly, disinvestmen...

Expectations from Modi govt were 'probably unrealistic': Raghuram Rajan

May 20, 2015 at 09:44 | Source: FirstPost

New York: The expectations from the new government when it came to power last year were "probably unrealistic" but it has taken steps to create an environment for investment and is "sensitive" to concerns of investors, RBI Gover...

Gold monetisation: Tax-free interest on deposits is good but scheme may fall short on many counts

May 20, 2015 at 08:15 | Source: FirstPost

From a forbidding level, except for temples and rich persons, of 500 grams, the just released draft paper allows one to deposit gold as low as 30 grams with banks and earn interest reckoned also in gold.To wit, if a bank offers to pay 1% interest, an...

No end to Vodafone's tax pains; co says arbitration may be delayed as 2 arbitrators quit

May 20, 2015 at 08:12 | Source: FirstPost

New Delhi - Engaged in long-pending Rs 20,000 crore tax dispute, Vodafone today said there is likely to be a delay in the arbitration process as two arbitrators of thethree-member panel have quit."The Indian government appointed an arbitrator bu...

Gold monetisation scheme: Old wine in new 30 gm bottle may not be enough to woo 20k T

May 20, 2015 at 07:34 | Source: FirstPost

From a forbidding level, except for temples and rich persons, of 500 grams, the just released draft paper allows one to deposit gold as low as 30 grams with banks and earn interest reckoned also in gold.To wit, if a bank offers to pay 1% interest, an...

U.N. envoy warns Gaza is 'desperate and angry' over devastation| Reuters

May 20, 2015 at 04:30 | Source: FirstPost

UNITED NATIONS The United Nations Middle East envoy warned on Tuesday that the people of the Gaza Strip are desperate and angry about their plight and that it is up to Israel and Palestinian authorities to prevent an implosion of the Mediterranean en...

Stoop to conquer: How PM Modi can turn things around for his govt

May 19, 2015 at 08:20 | Source: FirstPost

At the end of Narendra Modis first year in government, a verdict on his performance would read something like this: He has done better than UPA-II, but he has under-delivered on the promise that brought him to power in May 2014 the promise of bringin...

Greece nears debt deal in May as money runs low| Reuters

May 19, 2015 at 05:30 | Source: FirstPost

ATHENS Greece is near a cash-for-reforms deal with its euro zone partners and the International Monetary Fund that would help it meet debt repayments next month, the country's finance minister said on Monday, as worries persist over a possible bankru...

Amid China slowdown, foreign creditors face bankruptcy riddle| Reuters

May 19, 2015 at 03:45 | Source: FirstPost

HONG KONG As China's economy slows and Beijing becomes more relaxed about letting its companies fail, a rising number of foreign bondholders risk being caught up in the country's unpredictable court system.Last month, solar producer Baoding Tianwei B...

Abandoning Par IPO for $8 billion sale could help TPG with its own| Reuters

May 19, 2015 at 02:45 | Source: FirstPost

TPG Capital LP may have helped its own campaign to go public after pulling Par Pharmaceutical Holdings Inc's IPO.TPG was preparing to begin an IPO investor roadshow for Par Pharmaceutical Holdings before it agreed to sell the generics drugmaker to En...

Dollar pushes higher, eyes on inflation data| Reuters

May 19, 2015 at 01:30 | Source: FirstPost

LONDON The dollar clawed its way higher on Monday, recovering from almost four-month lows reached late last week on another surprisingly bad round of U.S. economic data. Against the euro, it was up as much as half a percent, taking back some of the p...

Greece says must strike debt deal in May as money runs low| Reuters

May 18, 2015 at 23:15 | Source: FirstPost

ATHENS Greece needs to strike a deal with its creditors by the end of the month to stay afloat, the government said on Monday, as investors ditched Greek bonds in a sign of growing concern about possible bankruptcy.Despite its precarious position, At...

Kejriwal's daughter 'stings' a babu: Sorry Mr CM, this is no aam aadmi victory

May 18, 2015 at 21:55 | Source: FirstPost

"Come in the first half," the woman at the Kolkata Corporation office assured me. "The deputy will be there."I was trying to figure out a property tax arrears bill. It had taken me close to an hour traipsing around various floors ...

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