Business news

Unido's new initiative on bamboo for north east - Dt( 2009-02-03 00:00:00 )
As part of the project, the UN agency has set up a $600,000 trust fund with the government-run North Eastern Council (NEC) with support from the Department of Industrial Policy and Promotion, a UNIDO  more ...

Maytas Infra loses second project in Orissa - Dt( 2009-02-03 00:00:00 )
Hyderabad-based KVK Energy, which is setting up a Rs.50-billion (Rs.5,000-crore), 1,050 MW coal-fired power project in Cuttack district, Tuesday said Maytas was no longer its joint venture partner.  more ...

Darjeeling tea: now savour the flavour of Gorkhaland - Dt( 2009-02-03 00:00:00 )
Kolkata, Feb 3 (IANS) The best-known teas of India are acquiring a political flavour. When aficionados of tea from the gardens of Makaibari, Castleton or Orange Vallee sip their morning cuppa after Ma  more ...

US consumer spending plunges to a 47-year low (Repeat for all needing) - Dt( 2009-02-03 00:00:00 )
Washington, Feb 3 (IANS) US consumers cut spending for a sixth straight month in December, capping off the worst year for consumer spending since 1961 and pointing to a further slide in the US economy  more ...

Markets open in the green - Dt( 2009-02-03 00:00:00 )
The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 9,128.99 points, higher than its 9,066.70-point close Monday. After about 10 minutes of trading, it was at 9,209.64 points, 1.  more ...

Despite death warrant, Centaur Hotel to get Rs.416-mn facelift - Dt( 2009-02-03 00:00:00 )
New Delhi, Feb 3 (IANS) Centaur, the state-owned hotel located near the Delhi airport, will be given a Rs.416.5-million facelift even though it will be demolished after the 2010 Delhi Commonwealth Gam  more ...

China unlikely to overtake India in outsourcing in a hurry: US expert - Dt( 2009-02-03 00:00:00 )
Washington, Feb 3 (IANS) China is unlikely to overtake India in outsourcing business anytime soon and it would take not one country but a lot of small ones to knock it off the top, according to a US e  more ...

For designer Samant Chauhan, silkworm is fashion's unsung hero - Dt( 2009-02-03 00:00:00 )
New Delhi, Feb 3 (IANS) He wants to make 'non-violent' silk a way of life. He has also contributed to the revival of the Bhagalpur handloom industry in Bihar. Thirty-year-old designer Samant Chauhan i  more ...

Bank CEOs in Canada forego bonuses - Dt( 2009-02-03 00:00:00 )
Toronto, Feb 3 (IANS) Even as their US counterparts have been slammed for their ``shameful'' behaviour by President Barack Obama for taking billions of dollars in bonuses, top Canadian bank CEOs have  more ...

Obama getting tough on 'Wall Street idiots' - Dt( 2009-01-31 00:00:00 )
Washington, Jan 31 (IANS) A day after President Barack Obama bashed bailed-out banks for giving huge bonuses, the White House pledged action against such "irresponsible" behaviour and a Democratic sen  more ...

Canada joins EU, Australia to oppose `Buy America' clause - Dt( 2009-01-30 00:00:00 )
The 'Buy America' bill has been attached to the Barack Obama stimulus plan by the US Congress to shield the country's crucial sectors from competition. Speaking in the Canadian parliament Thursday,  more ...

Olympic Bird's Nest to become entertainment, shopping centre - Dt( 2009-01-30 00:00:00 )
The Bird's Nest will continue to have tourism as its major business, while gradually tapping its auxiliary commercial facilities and turning them into a centre for entertainment and shopping, said the  more ...

Markets drop sharply at opening bell - Dt( 2009-01-30 00:00:00 )
The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 9,111.12 points, lower than its 9,236.28-points close Thursday. After about 10 minutes of trading, it had fallen further to 9,  more ...

Obama for all nations to act in unison on global economic crisis - Dt( 2009-01-30 00:00:00 )
Washington, Jan 30 (IANS) US President Barack Obama wants advanced and emerging economies to act in unison in dealing with the global financial crisis and would come up with more specific plans closer  more ...

Markets open in the green - Dt( 2009-01-29 00:00:00 )
The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 9,334.47 points, higher than its 9,257.47-point close Wednesday. After about 10 minutes of trading, it was at 9,366.84 points,  more ...

Recession cloud has solar lining in Silicon Valley - Dt( 2009-01-29 00:00:00 )
San Francisco, Jan 29 (DPA) Microsoft is laying off 5,000 workers, Intel is closing five fabrication plants, and even mighty, can-do-no-wrong Google is slashing perks and laying off recruiters. But  more ...

IMF lowers India growth to 5 percent as global economy plummets - Dt( 2009-01-29 00:00:00 )
Washington, Jan 29 (IANS) The International Monetary Fund (IMF) has lowered India and China's growth projections for 2009 to 5 percent and 6.75 percent respectively as it forecast world growth falling  more ...

US House passes Obama's economic stimulus plan - Dt( 2009-01-29 00:00:00 )
The House measure, which was approved Wednesday, combines roughly $275 billion in temporary tax cuts for both individuals and businesses along with about $544 billion for job-creating investment proje  more ...

Boeing loses $56 mn in fourth quarter - Dt( 2009-01-29 00:00:00 )
The revenues for the quarter declined by 27 percent to $12.7 billion as a result of the worker's strike that reduced commercial airplane deliveries by approximately 70 units and revenues by about $4.3  more ...

US Fed keeps key interest rate unchanged - Dt( 2009-01-29 00:00:00 )
The Fed continues to anticipate that "economic conditions are likely to warrant exceptionally low levels of federal funds rate for some time," the US central bank said in a statement. It admitted t  more ...