Diesel prices will come down by 37 paise a litre in the city in a day or two as Delhi Assembly today passed a Bill aimed at slashing the rate. The Delhi Value Added Tax (Second Amendment Bill) 2011 was passed by the Assembly. Following a hike in diesel prices in June, Chief Minister Sheila [...]
Singapore’s finance minister said on Tuesday a global recession looked more likely than not and a Chinese official acknowledged China’s growth may slow to a 10-year low (below 9 pct in 2012), highlighting Asia’s rising concern over its exposure to US and European risks. If Europe’s debt troubles deepen or the US slips into another [...]
The government may be undecided on whether cash-strapped Air India should go ahead with acquiring the Boeing 787 Dreamliners but an intense battle has already broken out within the airline over who would fly this plane! Pilots of the erstwhile Indian Airlines and Air India, who till now were bitterly divided on the issue of [...]
Millions of telecom subscribers (mobile and landline) will finally get relief from unwanted calls and SMSes from September 27. All those subscribers who have registered with the National Customer Preference Registry (earlier known as ‘Do Not Call Registry’) would get relief from all commercial communications, the Telecom Regulatory Authority of India (Trai) said. “…relevant clauses [...]
LVMH Moet Hennessy Louis Vuitton SA is among companies that might be seeking to acquire luxury-hotel chain Amanresorts International Pte, said two people with knowledge of the matter. DLF, the Indian real estate developer, has received at least five non-binding bids of $400 million to $450 million for Amanresorts, one of the people said, speaking [...]
Tech titans have kick-started their campus recruitment process. On plans are to recruit nearly 2.5 lakh engineering graduates from across the country’s campuses this year. Last year, offers were made to nearly 2 lakh students. Campus recruitment, which usually happens in the last semester, has been advanced to the seventh semester this year. Consequently, tech [...]
Indian industry is worried over a clause in the Jan Lokpal Bill which seeks to impose a fine of up to five times the loss caused to the public exchequer if a company is found to have been involved in corrupt practice and the charge is proved. Several industrialists that TOI spoke to said they [...]
Led by weak foreign fund buying, the sensex fell 108 points on Monday to close at 16,713, snapping last week’s three-session rally during which it had added about 930 points, or 6.1%. The weakness in the stock market, and the rush for safe haven, pushed gold to a record closing high of Rs 28,160 per [...]
Car recall has come back to haunt Honda yet again. The Japanese automaker on Monday called back as many as 72,115 units of its ‘City’ sedan to guard against a potential power window switch problem in cars manufactured from 2005 to 2007. This comes as part of a worldwide recall the company has issued, covering [...]
Rating agency Moody’s has issued a positive outlook on government’s rupee debt which indicates that it is primed for an upgrade because of the Centre’s efforts to develop the market for these bonds. In a statement issued here on Monday, Moody’s said that it would consider raising Indian government’s local debt rating to ‘Baa3’ which [...]