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Business

SC to hear govt’s Presidential Reference on 2G from tomorro

The Supreme Court will begin hearing from Tuesday the Centre’s Presidential Reference seeking its opinion on various issues arising out of the apex court’s 2G spectrum case verdict including whether auctioning of natural resources across all sectors is mandatory. A five-judge Constitution Bench headed by Chief Justice S H Kapadia will commence hearing the Reference […]

Stock & Share

Sensex at 1-wk low, falls 129 pts on weak Re, global cues

Mumbai : Led by metal, power and auto shares, the Sensex on Monday lost 129 points to end at 17,391.98- its lowest closing in over a week on fresh weakness in the rupee and poor global sentiment. Brokers also said worries over deficient rains fuelled speculation about scarcity of foodgrains and price rise, dashing hopes […]

Business

Fin Min mulls exchange traded fund for PSU stake sale

The Finance Ministry is mulling setting up of an exchange traded fund (ETF) for selling shares of state-owned companies as part of steps to meet the disinvestment target of Rs 30,000 crore in the current fiscal. “The Disinvestment Department is considering setting up of an exchange traded fund in the format of Hong Kong Tracker […]

Stock & Share

Sensex down 108 points in early trade

Mumbai : The BSE benchmark Sensex fell by almost 108 points in early trade on Monday as funds and retail investors indulged in selling amid a weakening trend on Asian bourses. The 30-share index, which had lost 17.55 points in the previous session, moved down by 107.99 points, or 0.61 percent, to 17,413.13 with stocks […]

Banking

Union Bank to open three overseas branches

State-run lender Union Bank of India (UBI) has said it plans to open three overseas branches in Sydney, Dubai and London before the fiscal end. “I am hopeful that at least three overseas branches are expected by March 2013,” bank Chairman and Managing Director D Sarkar told in Sydney . On the geographies which the […]

Business

CNG price in NCR hiked by Rs 2.90 a kg

CNG price in the national capital and adjoining towns has been hiked on Friday by a steep Rs 2.90 per kg, the third increase this year. Compressed natural gas (CNG) in Delhi will cost Rs 38.35 per kg with effect from midnight tonight, Indraprastha Gas Ltd, the sole retailer of CNG and piped natural gas […]

Stock & Share

Sensex falls 17 pts on weak rupee, global cues

Mumbai : Snapping a three-day upsurge, the Sensex on Friday fell 17 points from three-month high levels amid a weak rupee and insipid global trends. After opening marginally higher in the morning, the BSE benchmark index moved in a narrow 130-point range and at closing slipped by 17.55 points o 17,521.12. The Sensex had gained […]

Business

Mauritius has exchanged info with India in 170 cases

Mauritius on Friday said it has exchanged information related to over 170 cases with India over three years, and the two countries have made big progress on the double taxation avoidance treaty since 2006. Some of the information exchanged was even outside the Double Taxation Avoidance Agreement (DTAA) the two countries have with each other, […]

Business

There will be no arbitrariness in tax matters: PM

New Delhi : Prime Minister Manmohan Singh on Friday sent out clear signals to foreign investors saying there will be no arbitrariness in tax matters. “We want the world to know that India treats everyone fairly and reasonably and there will be no arbitrariness in tax matters,” he told a newspaper in an interview. The […]

Stock & Share

Sensex down 52 pts on profit-booking, Asian cues

Mumbai : Snapping a three-day rising streak, the BSE benchmark index Sensex declined by nearly 52 points in early trade on Friday as funds and retail investors preferred to book profits amid a weak trend in Asian markets. The 30-share index, which gained 140 points in the past three sessions, fell by 51.70 points, or […]