Mumbai: Ultratech Cement, part of the diversified Indian conglomerate Aditya Birla Group, is scouting for acquisitions overseas to enhance its cement manufacturing capacity by 50% to 75 million tonnes. Confirming this move, Kumar Mangalam Birla, chairman of Ultratech Cement, said, “Ultratech is planning to make investments in the Indian Ocean region (IOR) to enhance its [...]
New Delhi: Suzuki chief Osamu Suzuki on Friday took a tough stand on the labour standoff at Maruti’s Manesar plant, saying the company will not accept “any indiscipline”. In his first reaction to the problems at Manesar, Suzuki told representatives of the company’s recognized workers body that there will be “no compromise on discipline”. “Indiscipline [...]
New Delhi: Car sales slipped again in August as high interest rates and rise in petrol price weighed heavy over demand. According to figures released by industry body Society of Indian Automobile Manufacturers (Siam), sales dropped 10% in August at 1.44 lakh units against 1.6 lakh units in the same month last year. The numbers [...]
Mumbai: The sensex tumbled by over 299 points to close below the 17,000-mark on Friday due to heavy profit booking by funds, especially in metal and refinery stocks, after the recent rally. Snapping the three-day gaining streak, the 30-share index closed lower by 299 points at 16,867 points. During the day trade, the index touched [...]
Wahington: Barack Obama, looking to jolt both the US economy and his presidency, proposed a $447 billion plan for creating jobs in a highprofile, nationally televised speech before Congress. Obama, facing a tough re-election fight next year, looked to stem the eroding confidence in his leadership as the mood of Americans darkens and emboldened Republican [...]
Mumbai: If you want to witness the action at the 2011 Formula 1 Airtel Grand Prix in October, be prepared to shell out more moolah. Airfares to Delhi across all sectors have shot through the roof for travel in the last week of October (October 28-31), which is still one-and-a-half months away. A return trip [...]
New Delhi: The Comptroller and Auditor General (CAG) has found that treating everything else—not the passengers—as the real Maharaja has also contributed to Air India’s decline. The cash-strapped airline spent more on its employees, aircraft and financing but cut cost where it matters most: Providing amenities to the flyer, which fell by almost 15% from [...]
New Delhi: The country’s exports rose 44.2% in August maintaining its robust expansion on the back of strong shipments of engineering goods, petroleum and oil products, electronics and readymade garments. Provisional data released by Commerce Secretary Rahul Khullar on Friday showed exports in August stood at $24.3 billion. During April-August 2011, exports rose 54.2% at [...]
New Delhi: Carl-Peter Forster, the group CEO and managing director Tata Motors, unexpectedly resigned from the company on Friday citing “unavoidable personal circumstances”, after just 18 months at the helm. This comes at a time when the company’s sales suffer in its home market India and it searches for a joint venture partner in all-important [...]
Mumbai: Top officials from the London Stock Exchange (LSE) are coming to India next week to lend a helping hand to Indian companies to list in the UK bourse to raise money. The move is significant because the current uncertain market situation is proving to be difficult for Indian companies to raise money through listing [...]