ECONOMY & NATION


Bajaj Auto's total vehicle sales in June stood at 345,162 units compared to 3,66,657 units in the same period a year ago, a decline of 5.86% New Delhi: The country's second largest two-wheeler maker Bajaj Auto reported a 1.38% decrease in its motorcycle sales in June at 318,377 units,...

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The best solution to the problem of tax evasion is to simplify both the tax and the regulatory environment   Periodically for the past two years we have been bombarded with stories about the Greek financial mess. The Greeks and several other countries in the Eurozone have very large...

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There have been similar problems earlier as well in different sets of crucial data, and this issue has been raised even by Reserve Bank of India governor D Subbarao   New Delhi: India’s commerce and industry ministry has initiated an internal exercise to find out the reasons behind...

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Commenting on the data global financial services firm Nomura said, “The outlook for net capital inflows depends as much on the domestic pull factors as on the global push factors”   Mumbai: Reflecting deterioration of the external sector, India’s current account deficit (CAD) more...

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The investment will go towards construction of over 4,000 circuit km transmission lines spread over Andhra Pradesh and parts of Tamil Nadu, Karnataka and Maharashtra Hyderabad: State-run Power Grid Corporation has earmarked Rs6,000 crore for expansion in the southern region, reports PTI...

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Moneylife Digital Team 29 June 2012
The brokerage, however, has advised clients to buy on declines HDFC Bank has been downgraded to 'accumulate' from 'buy, by brokerage firm Kotak Securities. It believes that HDFC Bank has outperformed the Sensex during last one month by giving 12.6% return vis-à-vis 6.5% return given by...

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According to the draft guidelines on the General Anti-Avoidance Rules (GAAR), leasing transactions will not be hit by its provisions and only circular leasing The draft guidelines on General Anti-Avoidance Tax Rules (GAAR) were released on Thursday, 28 June 2012. The guidelines are only...

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The Edinburgh-based parent had assured the Indian government that it would retain about 22% stake in its Indian arm, but in less than a year, the company has decided to sell off all its shareholding in Cairn India   New Delhi: British major Cairn Energy, which had last year sold...

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Of this, orders worth Rs846 crore are from the domestic market and new orders worth Rs156 crore are from the Middle East   New Delhi: Larsen & Toubro (L&T) today said it has bagged orders worth over Rs1,002 crore across different categories from both domestic and overseas market...

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Even after the fresh reduction, there exists a scope for cutting rates by a further Re1 per litre as current revision was done at average international oil rate in the first fortnight of June New Delhi: In a relief to inflation-battered common man, petrol price was cut by Rs2.46 per...

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Moneylife Digital Team 29 June 2012
 The action by the apex bank should serve as a pointer to other banks—big and small—that charge excessive service charges The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs2 lakh on the Bundi Urban Co-operative Bank located at  Bundi in Rajasthan. According to a press...

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Oil secretary GC Chaturvedi was quoted by Russia’s Interfax saying that RIL had “over-sold its position without being absolutely sure about it” and that “it is unfair for shareholders and the country at large” Reliance Industries (RIL) today refuted suggestions that it may have...

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Party members are scared that if they say something against the leader or the decision taken by the chief, they would not get the election ticket next time, said former railway minister Dinesh Trivedi Washington:  Removed unceremoniously as India's Union railway minister at the behest of...

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World coffee production is estimated at 138 million bags in 2011-12 coffee year (October- September), while that for 2012-13 is forecast at a record 148 million bags New Delhi: Global coffee production is expected to rise by 7% to record 148 million bags in 2012-13 coffee year, beginning...

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The prime minister has called for reversing the climate of pessimism and regeneration of “animal spirit” in the economy New Delhi: The day after Indian prime minister Manmohan Singh called for reversing the mood of pessimism, top bureaucrats on Thursday took stock of the economic...

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HSBC has 4.75% stake (1.9 crore shares) in Axis Bank, through HSBC IRIS Investments Mauritius. It also has 4.76% stake in Yes Bank and holds 1.67 crore shares in it through the Mauritius-based entity New Delhi: UK-based HSBC is likely to sell stake in private sector lenders Axis Bank...

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Moneylife Digital Team 28 June 2012
Just Dial’s service is delivered across the web, phone and mobile internet Mumbai: Just Dial, one of India's leading local search engine, announced that Sequoia Capital has made an investment of Rs305 crore in the company. Just Dial is one of the first companies to offer local search...

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The Prime Minister's Office recently asked the coal ministry to fast-track the process of taking back captive blocks from the companies which have not developed them within the stipulated time, and giving them to Coal India New Delhi: The coal ministry has given three de-allocated mines,...

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Moneylife Digital Team 28 June 2012
A numerologist has asked Subhash Ghai to insert an additional ‘a’ in the name of his company for “good luck” says a notification to the stock exchanges Subhash Ghai, an ace filmmaker whose company went public with a bang because he could deliver a string of hits, found that lady luck...

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SBI chairman Pratip Chaudhuri said that the bank cut interest rates for exporters by 50 bps, effective 23rd June. The move comes within days of the RBI increasing the export refinancing limits of banks Mumbai: State Bank of India, the country's largest lender, has cut interest rate on...

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