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Business

Delhi HC pulls up Air India over sacked pilots

Mumbai : Air India management has been pulled up by the Delhi High Court for being too harsh on the airline’s pilots and look into the reinstatement of sacked pilots within four weeks. The bench of Justice Reva Khetrapal admonished Air India and asked the airline to sort out the issue “in a time-bound manner”. […]

Stock & Share

Sensex sheds 110 pts on weak monsoon, rising food prices

Mumbai : Indian shares dropped for the fourth straight on Monday with Sensex losing 110.39 points to end at 17.103.31 -its lowest closing since June 28 as monsoon worries and rising food prices in June dashed investor hopes of a rate cut by RBI later this month. The BSE benchmark index, which had lost 405 […]

Business

Crude lower in Asia

Mumbai : Oil prices sank in Asian trade on Monday after Saudi Arabia and the United Arab Emirates opened crude pipelines bypassing the Strait of Hormuz, which Iran has repeatedly threatened to close, analysts said. New York’s main contract, light sweet crude for August delivery, shed 34 cents to USD 86.76 a barrel and Brent […]

Stock & Share

Sensex up 69 points in early trade ahead of inflation data

Mumbai : The BSE benchmark Sensex recovered by nearly 69 points in early trade on Monday after three sessions of weakness on emergence of buying by funds and retailers ahead of inflation data. The 30-share barometer, which lost nearly 405 points in the last three sessions, rose by 68.60 points, or 0.39 per cent, to […]

Business

Kingfisher pilots on strike, several flights cancelled

Several flights of Kingfisher were cancelled on saturday due to a strike by pilots to protest non-payment of wages for almost five months. Three flights from Mumbai and several across the airline’s entire network were cancelled. An airlines spokesperson said, “A certain section of employees have decided to stay away from duties due to salary […]

Stock & Share

Sensex reverses early gains, down for 3rd day

Mumbai : Erasing 110-point gain in early trade, the BSE Sensex fell for the third straight day on Friday by closing 19 points lower on emergence of profit-booking as investors turned cautious amid India’s June exports contracting by 5.45 per cent due to global economic slowdown. Brokers said the focus has turned to inflation data […]

Business

Oil down in Asia as China growth hits 3-year low

Mumbai : Oil was lower in Asia on Friday as economic growth in China, the world’s largest energy consumer, slowed to its lowest level in three years in the second quarter, analysts said. New York’s main contract, light sweet crude for delivery in August, fell 21 cents to USD 85.87 a barrel and Brent North […]

Business

Govt may soon announce new guidelines to revive SEZs

The government is expected to come out soon with new norms to revive special economic zones (SEZs), which have lost sheen after imposition of certain levies and proposal to take away tax incentives, a government official said. “The Commerce and Finance Secretaries are discussing all the issues relating with these zones…we have to attract investments,” […]

Business

China’s small cities making giant strides in manufacturing

China : Small cities in China are growing big and better when it comes to producing wide range of items from laptops to neckties for the world market. Kunshan, one of China’s smallest cities, produces 40 per cent of world’s laptops, its neighbour Shengzhou supplies 40 per cent of global neckties while Yiwu is the […]

Business

Cabinet defers stake sale in SAIL

Mumbai : The Cabinet on Thursday deferred a decision on selling 10.82 per cent stake in Steel Authority of India Ltd (SAIL) as Steel Minister Beni Prasad Verma was away on official tour. The Steel Minister is in Tokyo on an official tour and could not attend the Cabinet meeting. In the absence of Verma […]