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01 October 2014, 01:19

Petrol price cut; diesel rate to wait for PM's return

Petrol price was cut by 54 paisa (excluding duties) a litre, but the first reduction in diesel rates in over five years was put off until the return of Prime Minister Narendra Modi from the US. State-owned oil firms, which skipped raising rates on September 16 even though their cost had gone up, cut prices in view of the downward trend in international markets. Petrol price was reduced by 54 paisa a litre without including local sales tax or VAT, with effect from midnight tonight. After ...
Rediff.com, 3 hour(s) ago
Also from: The Financial Chronicle, IBN Live

Learn as if you were going to live forever: Nadella to students

Microsoft CEO Satya Nadella speaks at Talent India 2014 Conference in New Delhi. Photograph: Vijay Kumar Joshi/PTI Live as if it's your last day, but learn as if you have to live forever, said Satya Nadella, the India-born Chief Executive of global software giant Microsoft while interacting with students in New Delhi. At an interactive event with students, Nadella, who is on his maiden visit to India after taking over as the CEO of the US-headquartered firm, said one should be ...
Rediff.com, 4 hour(s) ago
Also from: Financial Express

Bankers rule out slashing lending, deposit rates

Bankers have ruled out lowering deposit and lending rates in the near future after the Reserve Bank left all the key policy rates unchanged on enduring worries on inflation front. While large banks skirted a direct answer on repricing of assets or liabilities, Bank of India head V R Iyer was very forthcoming, saying there is no room for any rate cut soon. "We do not expect any movement in interest rates in near future as a consequence of policy measures," Iyer said. On deposit rates, Chanda ...
Rediff.com, 5 hour(s) ago
Also from: Money Today, Money Control and 8 other sources

'Modi must resist US pressure on drug patents'

Prime Minister Narendra Modi must not give in to US pressure to change intellectual property laws which allow India to produce generic medicines poor people can afford, the medical charity Doctors Without Borders (MSF) said. Modi, who is visiting the United States to bolster trade and investment ties, has been meeting senior Congressmen and business leaders. He met President Barack Obama at a White House dinner on Monday and the two will hold further talks on Tuesday. MSF said US officials ...
Rediff.com, 5 hour(s) ago
Also from: Business Standard, ADVFN India and 5 other sources

Rupee loses 22 paise to end at 7-month low of 61.75

T he rupee on Tuesday lost 22 paise to end at almost seven-month low of 61.75 against the dollar as month-end demand for the US currency from oil importers weighed on the local unit. Sluggish local equities after the Reserve Bank today kept key rates unchanged in its monetary policy and slowdown in foreign fund inflows put some pressure on the rupee, a forex dealer said. The dollar index was sharply up by 0.60 per cent against a basket of six major global units. It was also up against other ...
Rediff.com, 7 hour(s) ago
Also from: The Statesman, The Telegraph and 4 other sources

System has flexibility to deal with loans: Rajan on Coalgate

Reserve Bank of India Governor Raghuram Rajan on Tuesday said there is already ‘fair amount of flexibility’ in the system to deal with loans impacted by the Supreme Court order to de-allocate 214 coal blocks. "I will reiterate that whenever we have issues of flexibility coming up, the real issue is putting the asset back on track, recovering the loan, etc. “It's not about postponing recognition of the problem and let's keep that in mind," Rajan told reporters at the customary ...
Rediff.com, 8 hour(s) ago
Also from: The Statesman, Livemint.com and 17 other sources

Had a wonderful meeting with Obama: PM

"With President Barack Obama. We had a wonderful meeting and talked about a wide range of issues," posted Modi on his Facebook account. WASHINGTON: Indian Prime MinisterNarendra Modi said he had a "wonderful meeting" with US PresidentBarack Obama at the White ...
Economic Times, 11 hour(s) ago
Also from: Business Standard, Money Control and 7 other sources

Modi promises market reforms to US CEOs

James B Kelleher Last Updated: September 30, 2014 | 10:02 IST Prime Minister Narendra Modi (Photo: AP) Prime Minister Narendra Modi told nearly a dozen American chief executives on Monday that he is committed to liberalising the country's economy, which has ...
Money Today, 14 hour(s) ago
Also from: Business Standard, NDTV and 11 other sources

China grants license for iPhone 6 sales after weeks of delay

The Ministry of Industry and Information Technology (MIIT) said that it has granted a network access license to iPhone 6. BEIJING: China has granted network access license to iPhone 6, giving permission to sell the Apple's latest smartphone in the country ...
Economic Times, 11 hour(s) ago
Also from: CNET News, Reuters and 3 other sources

Prefer Hindalco Industries: Ajay Srivastava

Ajay Srivastava, CEO of Dimensions Consulting is of the view that one may prefer Hindalco Industries.
Money Control, 13 hour(s) ago
Also from: Financial Express, The Freepress Journal and 3 other sources

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