Global banking and research giant CitiGroup has projected India’s headline inflation to remain elevated during this fiscal, and stand at 8 per cent by March 2012, on account of high commodity prices and upward revision of past data among other factors. The 8 per cent projection for March 2012 is higher than the 6-7 per [...]
It’s official now — Indians hold about $2.5 billion (over Rs 11,000 crore) in Swiss banks, but this figure of Switzerland’s central bank may be a gross understatement of the total wealth directly and indirectly held there by entities from India. The ever-growing judicial scrutiny and political outcry over alleged stashing of black money in [...]
Several studies have found that Facebook, Twitter and Google are as addictive as drugs. People react like twitchy addicts denied their drugs when forced to give up access to the Internet and other electronic media. And just like a boozer who leans on bourbon as a social lubricant, online addicts believe that people who aren’t [...]
Jet Airways will focus on international expansion, as domestic yields come under strain due to high fuel costs and discount pricing by other carriers. International routes contribute to 57 percent of its revenue. The airline posted a Rs 123 crore loss on a standalone basis in the first quarter. Jet’s vice-president (investor relations), K G [...]
Markets have already priced in a rate rise of at least 25 bps.The Reserve Bank of India (RBI) will announce the first quarter review of monetary and credit policy on July 26. Yields may harden if there are any indications of further rate rises.Markets have already priced in a rate rise of at least 25 [...]
The UPA-II government’s disinvestment programme was kick-started with hydropower major NHPC’s initial public offer (IPO) in August 2009. The issue got the government nod once the company fulfilled the Sebi listing norm of half of the board being composed of independent directors (IDs). Now that the IPO process is over, the company has only four [...]
New India Assurance (NIA) has logged losses for the first time in its 90-year history. The country’s largest general insurance company notched a net loss of Rs 421 crore in 2010-11, even after Rs 2,329 crore investment income. Higher claims in both domestic and international markets, one-time additional provision for wage hike, pension and gratuity [...]
More names with political connections in the land allotment by the Bihar Industrial Area Development Authority (BIADA) are tumbling out — a Madhepura JD-U leader said to be a close aide of JD-U national president and Madhepura MP Sharad Yadav; a relative of then president of Bihar Industries Association, an ex-officio member of BIADA’s project [...]
Despite a recent move to classify mobile phones as possibly carcinogenic, the scientific evidence increasingly points away from a link between their use and brain tumours, according to a new study on Saturday. A major review of previously published research by a committee of experts from Britain, the United States and Sweden concluded there was [...]
There is no consensus yet again on the Lokpal bill. Anna Hazare may rethink his August 16 fast as political parties push back civil society saying Parliament will decide shape of the Lokpal bill. There is no clarity on who will eventually create the final draft of the Lokpal bill. A crucial all-party meeting called [...]