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Budget fiscally prudent, reforms key: Moody's analyst
India's 2017/18 annual budget is "fiscally prudent," as it maintains the government's fiscal consolidation efforts and would lead to stable economic growth if implemented correctly, a Moody's analyst said on Wednesday.
1 February 2017, 18:00 PM
Sensex hits over 3-month high
Indian shares rose 1.8 percent on Wednesday after Finance Minister Arun Jaitley unveiled a budget with a range of incentives for companies and geared towards boosting infrastructure and developing the rural economy.
1 February 2017, 18:00 PM
Income tax rate halved to 5pc
India is to halve the basic rate of income tax to 5 percent, Finance Minister Arun Jaitley announced on Wednesday in his annual budget.
1 February 2017, 18:00 PM
Law to seized assets of financial crooks on cards
India is considering new measures to seize the assets of "big time offenders" who flee abroad, the finance minister said Wednesday, after tycoon Vijay Mallya left for Britain last year owing over $1 billion.
1 February 2017, 18:00 PM
Oil giant to take on global rivals
India plans to form a giant national oil company by combining other state-owned firms, finance minister Arun Jaitley said on Wednesday, as New Delhi wants to expand its foreign presence to meet growing domestic fuel demand.
1 February 2017, 18:00 PM
Jaitley sticks to bank spending plan, no bumper recapitalisation yet
India stuck to a previously planned injection of $1.5 billion for state-owned banks in the coming financial year, disappointing hopes for a broader recapitalisation and fuelling concern that some may trim lending to keep afloat.
1 February 2017, 18:00 PM
Bosch to pay out $327.5m over scandal
German car parts maker Bosch said Wednesday it will pay out some $327.5 million (303 million euros) in compensation to US buyers and dealers of Volkswagen-made diesel cars affected by the 'dieselgate' scandal.
1 February 2017, 18:00 PM
S Africa and EU spar over chicken meat dumping
South Africa's poultry industry says it is on the brink of collapse due to hotly-denied accusations that the European Union is dumping cheap chicken in the country in a dispute over free trade.
1 February 2017, 18:00 PM
Apple defies Wall Street with strong revival in iPhone sales
Apple Inc reclaimed the throne as the world's top smartphone seller for the first time in five years on Tuesday, beating out rival Samsung in units shipped for the holiday quarter and boosting revenues with a strong showing for its new, top-of-the-line iPhone 7 Plus.
1 February 2017, 18:00 PM
German workers must get higher wage increases: Germany's Schulz
Germany's center-left candidate for chancellor Martin Schulz has called for bigger pay rises for workers, an unusual move in a country where wages are traditionally negotiated by managers and union leaders without political interference.
1 February 2017, 18:00 PM
Japan eyes US job, investment initiative ahead of Abe-Trump summit
Japan is hammering out plans to show US President Donald Trump its firms are ready to create US jobs, according to a document whose contents were revealed to Reuters, as Prime Minister Shinzo Abe prepares for a summit where automotive trade will be high on the agenda.
31 January 2017, 18:00 PM
Italian banks make little headway in clearing out bad loans: ECB
Italian banks have made little progress in reducing the mountain of bad debts which has curbed their ability to lend new money, fresh data showed on Tuesday.
31 January 2017, 18:00 PM
Indian farmers to raise rubber tapping amid price rally
India's natural rubber output in 2017/18 is likely to jump 15 percent to its highest in four years at 750,000 tonnes as a spike in benchmark prices prompts farmers to start tapping trees they had abandoned earlier, industry officials told Reuters.
31 January 2017, 18:00 PM
Asia targets tourism, education boost from Trump travel ban
Seeking to capitalize on US President Donald Trump's controversial new travel restrictions, companies and officials in Asia said they would target greater tourism and education ties with Muslims worried about the curbs.
31 January 2017, 18:00 PM
Pfizer earnings miss analyst expectations
Pharmaceutical giant Pfizer announced fourth-quarter earnings that missed analyst expectations Tuesday following a pair of recent acquisitions.
31 January 2017, 18:00 PM
Vodafone dials for backup in India telco fight
Vodafone has dialed for backup in its India fight. The UK-based telco is talking to Aditya Birla Group about an all-share merger of its Indian business with Idea Cellular, part-owned by the cement-to-retail group. It could feel the benefits beyond the subcontinent.
31 January 2017, 18:00 PM
Strong dollar pulls down H&M net profit
Swedish ready-to-wear giant Hennes and Mauritz (H&M) said Tuesday annual net profit dropped by 11 percent due to higher purchasing costs from the rising dollar.
31 January 2017, 18:00 PM
Power transmission line from Payra to Patuakhali on cards
The government plans to construct a transmission line from Payra to Patuakhali to start supplying power to a 1,320MW coal-based power plant in Payra deep seaport area by 2018.
31 January 2017, 18:00 PM
Vodafone India seeks merger with rival Idea Cellular as price war rages
Britain's Vodafone Group confirmed on Monday it was in talks to merge its Indian subsidiary with local rival Idea Cellular in an all-share deal that would create a new market leader better able to contest a brutal new price war.
30 January 2017, 18:00 PM
Trust banks plan to sue Toshiba over 2015 accounting scandal
Japanese trust banks are preparing to sue Toshiba Corp over its 2015 accounting scandal, a fresh headache for the conglomerate as it scrambles to offset a separate imminent multi-billion dollar writedown.
30 January 2017, 18:00 PM