Asia Business News latest RSS headlines - Peking Press.com

Ex-Im Bank loan guarantee to Air India upheld by US appeals court

Tue, 18 Jun 2013 17:24:35 -0400

WASHINGTON - A U.S. appeals court has upheld a decision by the U.S. Export-Import Bank to finance the sale of 30 Boeing wide-body jets to Indian state-owned carrier Air India in a legal challenge brought by Delta Air Lines to the loan guarantee. The court has however directed the government-run bank to better explain its rationale for providing loan guarantee, which Delta claimed as a victory ...

Shenzen to be first Chinese city to begin carbon trading

Tue, 18 Jun 2013 17:12:35 -0400

BEIJING - China, the world's biggest carbon emitter, is set to launch Tuesday its first carbon trading scheme as a pilot project in the southern city of Shenzhen as part of efforts to cut emissions in its key cities. Carbon emissions trading schemes are meant to encourage companies to reduce their carbon dioxide emissions by setting a limit or a cap, on the level of emission that can be ...

Car recalls issues From acceleration at Toyota to spiders at Mazda

Wed, 19 Jun 2013 10:07:43 -0400

Toyota suffered a hugely damaging blow to its reputation for quality between late 2009 and early 2011 when it recalled more than 10 million cars due to sudden unintended acceleration as well as brake and fuel pump problems. The acceleration issue was tracked to floor mats getting lodged in the foot pedal well and to the pedal getting mechanically stuck. Numerous lawsuits were launched against ...

Cokes Atul Singh elevated to global role

Wed, 19 Jun 2013 09:51:00 -0400

Atul Singh , presently president & CEO, India and south west Asia as its deputy president, Pacific group. Singh, the first Indian within the Coca-Cola system to be given such a significant global role, will oversee two key and growing markets for the cola major -- India and China -- which together contribute 10% of the company's volumes. It was last year that India moved into the ...

Re snaps 2-day fall up 7 paise vs dollar

Wed, 19 Jun 2013 09:50:56 -0400

Interbank Foreign Exchange (Forex) market, the domestic unit commenced better at 58.74 a dollar from previous close of 58.77, which is its all-time low on a closing basis. However, in a session marked with volatility the rupee moved erratically in a range of 58.61 and 58.91 against the US dollar. It ended at 58.70, a rise of 7 paise or 0.12 per ...

Sensex recovers 22 points on late buying

Wed, 19 Jun 2013 07:36:00 -0400

Members are registered users on Timesofindia.com. Only they are qualified to earn badges and points for their activities. So register and get a badge right ...

Strong Japan Export Data Pushes up Nikkei

Wed, 19 Jun 2013 06:18:14 -0400

Even as investors remain on the sidelines ahead of the conclusion of the Fed's 2 day meeting and especially Ben Bernanke's testimony later in the day, there was great volatility during the Asian session. Traders were either reacting to the bullish Japan export data or setting up positions ahead of the Bernanke testimony later today. In Asia the stocks were broadly ...

Apple chief makes case against Adobe Flash software

Wed, 19 Jun 2013 05:35:16 -0400

Last week, JSPL shares crashed 24% after the CBI registered an FIR against the company and Naveen Jindal over landing coal fields by alleged ...

Hang Seng Shanghai end lower

Wed, 19 Jun 2013 05:16:34 -0400

(1 hr 3 mins ago) Hong Kong stocks finished 1.13 percent lower on Wednesday, hit by reports that property tax trials will be launched in China this year in a bid to cap soaring prices. The benchmark Hang Seng Index ended down 238.99 points at 20,986.89 on turnover of HK$61.88 billion, AFP reports. Chinese stocks closed down 0.73 percent. The benchmark Shanghai Composite Index fell 15.84 points ...

Sensex extends losses drops 102 points

Wed, 19 Jun 2013 03:15:25 -0400

Members are registered users on Timesofindia.com. Only they are qualified to earn badges and points for their activities. So register and get a badge right ...

Nikkei jumps 1.8pc at close

Wed, 19 Jun 2013 03:07:48 -0400

(44 mins ago) Stocks in Tokyo closed 1.83 percent higher, ahead of the Federal Reserve ending its policy meeting and as official data showed Japan's exports soared in May thanks to a weaker yen. The benchmark Nikkei 225 index jumped 237.94 points to 13,245.22, while the Topix index of all first-section shares rose 1.86 percent, or 20.17 points, to 1,106.57. ...

Asian mkts tense before Fed meet Nikkei gains

Wed, 19 Jun 2013 02:59:13 -0400

European stocks were expected to open steady ahead of the conclusion of the Fed's June 18-19 meeting. A policy statement is due at 1800 GMT and Fed ...

Nikkei climbs to 1-week high on SoftBank investment trust

Wed, 19 Jun 2013 02:49:05 -0400

* Nikkei rises 1.8 pct, Topix up 1.9 pct * Japan stocks fwd P/E falls to level not seen since BOJ action * SoftBank gains after Dish says abandons Sprint bid * TEPCO sinks, says finds highly toxic strontium in Fukushima groundwater By Dominic Lau TOKYO, June 19 (Reuters) - Japan's Nikkei average hit a one-week high on Wednesday, with traders citing the launch of a near $780 million investment ...

Nikkei up as softer yen boosts exporters

Wed, 19 Jun 2013 02:19:24 -0400

Sydney - Japanese stocks rose on Wednesday, thanks to a positive lead from Wall Street plus a softer yen, outperforming the rest of Asia which anxiously seeks clarity on the Federal Reserve's next policy ...

What Bust Australia Set for Huge Boom Report Says

Wed, 19 Jun 2013 02:15:22 -0400

Australia's economy has been clouded with negative forecasts in recent weeks with some even warning of a dip back into recession, but a recent report argues the economy is poised for a rapid acceleration in the coming months. According to Clifford Bennett, chief economist of the financial services firm White Crane Group, which publishes the White Crane Report, Australia is set for a major ...

Awaiting China PMI Things Could Get Even Worse

Wed, 19 Jun 2013 01:11:46 -0400

Activity in China's vast manufacturing sector may have decelerated further in June, the flash estimate of the HSBC China purchasing manager's index (PMI) is expected to show, exacerbating worries about a downturn in the world's second largest economy. The closely-watched flash PMI survey due on Thursday could fall to as low as 48.7, according to estimates by Credit Agricole and ...

Emerging Market Allocations Hit Lows

Wed, 19 Jun 2013 01:11:45 -0400

Investor confidence in emerging markets is continuing to plummet, with a recent fund managers' survey showing that equity investment in the group of countries has fallen to its lowest level since December 2008. The BofA Merrill Lynch Fund Manager Survey for June showed that about 9 percent of asset allocators were underweight emerging market equities - the first underweight reading since ...

Rupee recovers 15 paise against dollar

Wed, 19 Jun 2013 01:08:23 -0400

MUMBAI: The rupee recovered by 15 paise to 58.62 against the dollar in early trade on Wednesday at the Interbank Foreign Exchange market on increased selling of the US currency by exporters. However, dollar's strength against other currencies overseas capped the rupee's gain as investors await the conclusion of ...

Sensex down 62 points

Wed, 19 Jun 2013 01:08:22 -0400

Members are registered users on Timesofindia.com. Only they are qualified to earn badges and points for their activities. So register and get a badge right ...

Asian businesses optimistic sentiment in India falls

Wed, 19 Jun 2013 00:53:02 -0400

That’s how many engineers graduate in India every year. And they have never found it so hard to land a job. Some blame the slack job market, others point to poor quality of colleges and ...

Sell-offs across Asia as Nikkei drops 6.4 on BoJ disappointment World Bank weighed

Wed, 19 Jun 2013 00:13:33 -0400

Asian stocks slipped on Thursday as Nikkei triggered sell-offs across the region after falling more than 6%, which places the index in a bear market, while the dollar/yen fell towards the 94-mark on BoJ’s lack of action to calm markets, pushing exporters ...

Asian stocks jump as Nikkei recovers some losses following strong U.S. data

Wed, 19 Jun 2013 00:13:32 -0400

Asian stocks jumped Friday as strong U.S. data lifted confidence about the ability of the U.S. economy to withstand any cut in stimulus. The upbeat retail sales and jobless claims triggered a rally on Wall Street and soothed the panicking Asian markets ahead of next weeks Federal Reserve policy ...

Fish Prices Leap to All-Time High Thanks to China

Wed, 19 Jun 2013 00:07:23 -0400

Global fish prices have leapt to all-time highs as China's growing appetite for high-end species - from tuna to oysters - runs up against lower catches. The UN Food and Agriculture Organisation's global fish price index, an industry benchmark that tracks the cost of wild and farmed seafood, hit a record high in May, up 15 per cent from a year ago and above the peak set in mid 2011. ...

Nikkei rises 1.3 pct on weak yen Fed hopes Softbank soars

Tue, 18 Jun 2013 22:50:39 -0400

* Investors still cautious ahead of Fed outcome * Softbank soars after Dish abandons Sprint bid * Tepco tumbles as highly toxic substance found at plant By Ayai Tomisawa TOKYO, June 19 (Reuters) - Japan's Nikkei share average rose to a one-week high on Wednesday morning, underpinned by optimism that the U.S. Federal Reserve would temper worries about an imminent roll back of its stimulus ...

Asian markets subdued as Fed looms Nikkei rallies

Tue, 18 Jun 2013 22:40:49 -0400

the rest of Asia was restrained as investors waited for clarity on the Federal Reserve's next policy step. Major currencies were subdued as well ahead of the outcome of the ...

Cathay Pacific traffic figures for May 2013

Tue, 18 Jun 2013 21:56:17 -0400

Cathay Pacific Airways released combined Cathay Pacific and Dragonair traffic figures for May 2013 that again show a year-on-year drop in the number of passengers carried and cargo and mail tonnage. Cathay Pacific and Dragonair carried a total of 2,338,703 passengers in May – a drop of 0.8% compared to the same month last year. The passenger load factor was up by 0.5 percentage points to ...

Singapore Airlines May 2013 operating results

Tue, 18 Jun 2013 21:56:16 -0400

The operating results for May 2013 are given in the table below: In May 2013, Singapore Airlines' system wide passenger carriage (measured in revenue passenger kilometres) increased 1.3% on the back of 3.1% growth in capacity (measured in available seat kilometers). Consequently, passenger load factor (PLF) fell by 1.2 percentage points to 74.6%. The number of passengers carried ...

Hong Kong Investigates HSBC for Manipulating Rates

Tue, 18 Jun 2013 21:54:40 -0400

Hong Kong's de facto central bank said on Tuesday that its investigation into possible benchmark rate manipulation has been extended to include HSBC and a number of other banks.The Hong Kong Monetary Authority (HKMA) announced in December that it was investigating UBS about possible misconduct relating to its submissions for the Hong Kong Interbank Offered Rate ...

Japanese Exports Soar on Weak Yen

Tue, 18 Jun 2013 21:54:40 -0400

Japanese exports rose a stronger-than-expected 10.1 percent in May from a year earlier, compared with a 3.8 percent rise the previous month in a sign that a ...

Qantas IT glitch lists $11000 Sydney-Melbourne fares

Tue, 18 Jun 2013 21:53:06 -0400

" alt="Qantas IT glitch lists $11,000 Sydney-Melbourne fares" style="position: absolute; top: 50%; left: 50%; margin-left: -233.5px; margin-top: -130px;" title="Qantas IT glitch lists $11,000 Sydney-Melbourne fares" ...

Huge revenue losses feared in fake transactions

Tue, 18 Jun 2013 21:46:34 -0400

KARACHI: The national exchequer is likely to suffer huge revenue losses of two percent general sales tax (GST) per product sold by multinational and local companies - as their distributors are charging sales tax rate of 19 percent - rather than the official 17 percent GST - on supplies to retail outlets, retailers told the News. This is done on fake invoices making the transaction illegal, they ...

Govt borrowing rises by Rs47 billion

Tue, 18 Jun 2013 21:46:33 -0400

KARACHI: Pakistan's government borrowing from domestic banking sources has risen by Rs 47 billion in fiscal year 2012-13, as compared to the same period last year, the State Bank of Pakistan (SBP) reported on Tuesday. This heavy borrowing from the banking system - as shortfall in public finances weighs on the weak economy - means fear is rising of the country slipping into a "debt ...

Oil consumption rises by 15 percent

Tue, 18 Jun 2013 21:46:33 -0400

KARACHI: Oil consumption shot up by 15 percent on month-on-month basis and seven percent on year-on-year basis in May based on provisional figures. Petrol sales jumped to a record level of 360k tons, up by 24 percent on month-on-month basis and 47 percent on year-on-year basis, as analysts believe the election campaigning and enhanced CNG outages, particularly in Punjab, contributed towards ...

Circular debt to be wiped out in 60 days

Tue, 18 Jun 2013 21:46:32 -0400

ISLAMABAD: Federal Minister for Finance Ishaq Dar told Korean Ambassador Choongjoo Choi that circular debt will be wiped out in 60 days in a bid to reform the business environment in Pakistan, in a meeting on Tuesday. Pakistan currently has a circular debt of Rs503 billion, which remains a key factor in the country's massive energy imbroglio. The energy shortfall has led to closure of ...

Deceptive GST increase slammed

Tue, 18 Jun 2013 21:46:32 -0400

KARACHI: The budget presented by Finance Minister Ishaq Dar in parliament last week will stoke up inflation and contradicts the election manifesto of the ruling PML-N govt, experts said at Jang Forum on Tuesday. The proposed increase in General Sales Tax (GST) to 17 percent has already resulted in the increased prices of most goods and reduced the purchasing power of people, speakers at the forum ...

KSE struggles to attract investors with new products

Tue, 18 Jun 2013 21:46:31 -0400

KARACHI: Five products launched by the Karachi Stock Exchange to attract local investors after the stock market crashed in 2008 received response from less than 10 percent of traders, officials said on Tuesday. The stock market reached a major milestone when the KSE-100 index crossed the 15,000-point barrier for the first time in the country's history. The market peaked at 15,737.32 points ...

Group life insurance premium raised

Tue, 18 Jun 2013 21:46:31 -0400

ISLAMABAD: The Securities and Exchange Commission of Pakistan has doubled the minimum premium limit for group life insurance required for certification of an appointed actuary of a life insurer. According to the SECP, the limit has been increased from one million to two million rupees. It has also issued circular No 11/2013 amending circular No.9/2005, which will take effect from July 1, 2013. ...

KTBA terms levy on moveable assets blow to savings

Tue, 18 Jun 2013 21:46:30 -0400

KARACHI: The Karachi Tax Bar Association (KTBA) has termed the measure of 0.5 percent levy on net moveable assets as a blow to generations of savings, which are already very low in the country. At a post-budget seminar organised by the KTBA on Tuesday, Haider Patel, the president of the bar association, said that the 0.5 percent levy on net moveable assets from all individual taxpayers on an ...

Businessmen urged to avail opportunities in Ukraine

Tue, 18 Jun 2013 21:46:30 -0400

LAHORE: Pakistan's ambassador designate to Ukraine Wajahat Ali has urged Pakistani businessmen to avail trade opportunities in Ukraine as the country holds a great market for Pakistani products. He was addressing the members of the Lahore Chamber of Commerce and Industry (LCCI) on Tuesday. He said that textiles, textile made-ups, pharmaceuticals, rice, fruits, surgical and sports goods have ...

ECB rates becoming effective Draghi

Tue, 18 Jun 2013 21:46:29 -0400

JERUSALEM: The European Central Bank is ready to act to aid the Eurozone economy if needed, while signs of market stabilisation mean interest rates are becoming a more effective tool again, ECB chief Mario Draghi said on Tuesday. Speaking in Jerusalem at a farewell conference for Bank of Israel Governor Stanley Fischer, Draghi said there were numerous measures the ECB could and would deploy if ...

Protesters abound in Sukkur

Tue, 18 Jun 2013 21:46:28 -0400

SUKKUR: Employees of the Town Municipal Administration (TMA) Sukkur protested on Tuesday against the nonpayment of their salaries for nine months. TMA employees first shutdown their offices and later marched to Sukkur Press Club to set up a hunger strike camp. The disgruntled workers said authorities had withheld their salaries without any justification. They said their dependents were facing ...

Thar coal recognised at forum

Tue, 18 Jun 2013 21:46:28 -0400

KARACHI: Sindh Board of Investment Chairman Muhammad Zubair Motiwala said on Tuesday that the quality of reserves at Thar Coal have been recognised by world-renowned institutions, including the Clean Coal Forum 2013 in Beijing, China. While giving a briefing, the SBI chairman said access and infrastructure at Thar is being developed for increased participation of local and foreign investors. The ...

Fuel hike hinges on compensation

Tue, 18 Jun 2013 21:46:27 -0400

JAKARTA: Indonesia will hike petrol prices once the government has finalised the process to compensate poor families for the rise in fuel costs, the finance minister said on Tuesday. Chatib Basri did not provide a specific timeline on when that may occur. Under the government's measures, ordinary gasoline will rise 44 percent and diesel by 22 percent. Parliament approved the plan on ...

Psha seeks forward looking policies

Tue, 18 Jun 2013 21:46:27 -0400

KARACHI: At a post-budget appraisal meeting, the Pakistan Software Houses Association for IT and ITES (P@SHA) discussed pressing issues confronting the new state minister of IT and telecom. P@sha is the only registered professional trade body representing the information technology and business process outsourcing sector in Pakistan. Its primary mandate is the growth of the technology sector, ...

EU US launch trade talks

Tue, 18 Jun 2013 21:46:27 -0400

ENNISKILLEN, Northern Ireland: The United States and the European Union launched talks on Monday to create one of the world's most ambitious free-trade zones, as France again underscored its determination to protect its movies and culture. A trans-Atlantic free trade agreement was first considered three decades ago but was knocked down by France in the 1990s. Europe has now managed to get ...

British inflation up to 2.7pc in May

Tue, 18 Jun 2013 21:46:26 -0400

LONDON: British 12-month inflation accelerated to 2.7 percent in May, rebounding from a seven-month low point struck in April, official data showed on Tuesday. Analysts' consensus forecast had been for a rise in the 12-month rate to 2.6 percent, according to Dow Jones Newswires. "The Consumer Prices Index (CPI) grew by 2.7 percent in the year to May 2013, up from 2.4 percent in ...

PTCL concludes leadership conference

Tue, 18 Jun 2013 21:46:26 -0400

KARACHI: Pakistan Telecommunication Company Limited (PTCL) held the concluding session on Tuesday of its leadership conference 'Broadening Learning Horizons', which kicked off earlier this month. Designed to enhance the leadership capabilities of PTCL's senior management in-line with the strategic business vision of the company, the event brought together business leaders and ...

HBL Signs Agreement with Atlas Honda Limited

Tue, 18 Jun 2013 21:46:25 -0400

Karachi: HBL entered into an agreement with Atlas Honda Ltd. to offer its salary account holders a personal loan facility for the purchase of Atlas Honda motorbikes. The agreement was signed by Mr. Nauman K. Dar, President and CEO HBL and Mr. Saquib H. Shirazi, CEO Atlas Honda Ltd., during a ceremony held at the HBL Head Office in Karachi. Also present on the occasion were Ms. Sima Kamil, Head - ...

Stocks decline 297 points on profit-taking

Tue, 18 Jun 2013 21:46:24 -0400

The Karachi Stock Exchange (KSE) benchmark 100-index declined by 297 points to 21,919.63 points on Tuesday on profit-taking, dealers said. They added that foreigners, local institutions and retailers offloaded their positions. Arif Habib, chairman of Arif Habib Group, said that profit-taking was witnessed in the market during the last three sessions as the honeymoon period of elections and the ...

Karachi ports handle 192918 tons of cargo

Tue, 18 Jun 2013 21:46:24 -0400

The Karachi Port and Port Qasim handled a cargo volume of 192,918 tons during the last 24 hours that included 111,485 tons of imports and 81,433 tons of exports, the two ports reported on Tuesday. Accordingly, the Karachi Port handled imports, including containerised cargo (20,966 tons), bulk cargo (12,701 tons), DAP (8,007 tons), and oil / liquid cargo (36,547 tons). It handled exports, ...

Cotton spot rate increased

Tue, 18 Jun 2013 21:46:23 -0400

Karachi The Karachi Cotton Exchange (KCE) revised up its cotton spot (average) rate by Rs100 per maund (37.324 kilograms) to Rs6,500 per maund after the demand for the commodity continued to increase at the local markets, a dealer said on Tuesday. "The KCE increased its cotton spot rate after the demand for the commodity surged significantly," Taqi Abbas, a member of the Advisory ...

Hang Seng dips at open

Tue, 18 Jun 2013 21:43:02 -0400

(2 mins ago) Stocks in Hong Kong fell 0.18 percent at the open as dealers await the outcome of a US Federal Reserve policy meeting for an idea of its plans for its vast stimulus scheme. The benchmark Hang Seng Index fell 37.48 points to 21,188.40 in the first few minutes of ...

GLOBAL MARKETS-Nikkei outperforms Asian stocks as Fed looms

Tue, 18 Jun 2013 21:02:15 -0400

Tue Jun 18, 2013 11:38pm EDT * Asian stocks softer as Fed outcome awaited * Markets hope for clarity on any pullback in Fed stimulus * Nikkei up as softer yen boosts exporters; currencies mostly steady By Ian Chua SYDNEY, June 19 (Reuters) - Japanese stocks rose on Wednesday, thanks to a positive lead from Wall Street plus a softer yen, outperforming the rest of Asia which anxiously seeks clarity ...

Cathay Pacific to revamp first class BOSE headphones more personal space

Tue, 18 Jun 2013 20:46:34 -0400

" alt="Cathay Pacific to revamp first class: BOSE headphones, "more personal space"" style="position: absolute; top: 50%; left: 50%; margin-left: -233.5px; margin-top: -130px;" title="Cathay Pacific to revamp first class: BOSE headphones, "more personal space"" ...

GVK’s Australia coal project a quagmire Report

Tue, 18 Jun 2013 20:44:55 -0400

MUMBAI: Infrastructure firm GVK's $10-billion Alpha coalmine, port and rail project is uneconomical and represents an unacceptable level of risk to potential investors, says a report by the US-based Institute for Energy Economics and Financial Analysis (IEEFA). Titled 'Stranded: A financial analysis of GVK's proposed Alpha Coal Project in Australia's Galilee Basin', the ...

HC upholds withdrawal of SEZ tax exemptions

Tue, 18 Jun 2013 20:44:54 -0400

units and developers by the Finance Act, 2011. A bunch of companies having units in SEZs and SEZ developers such as MindTree, Biocon, Opto Circuits, Opto Infrastructure and Primal Projects, to name a few, had petitioned the Karnataka high court against the withdrawal of MAT and DDT exemption available to them earlier. The petitioners claimed that they had made heavy investments and established ...

PC prices to go up on fall in rupee

Tue, 18 Jun 2013 20:44:52 -0400

58, is leaving nothing untouched in its wake. It is especially true of the computer components in India, almost all of which are imported from manufacturing bases in countries like Taiwan. The complete dependence on importing components means that all vendors would be affected and an increase in the prices of laptops and desktops is expected. "The prices of all the PC components is going up. ...

India fourth biggest market for Sony with Rs 8000 crore sales

Tue, 18 Jun 2013 20:44:51 -0400

That’s how many engineers graduate in India every year. And they have never found it so hard to land a job. Some blame the slack job market, others point to poor quality of colleges and ...

Vodafone slashes 2G data charges by 80

Tue, 18 Jun 2013 20:44:48 -0400

MUMBAI: In an attempt to push mobile internet usage among its subscribers, Vodafone India said it has cut its 2G data charges by 80% in three circles and the reduced rates will be gradually rolled out nationally. The telecom operator has reduced charges from 10 paise per 10KB to 2 paise per 10KB in Karnataka, UP ...

Big investors look to log into Indian e-commerce

Tue, 18 Jun 2013 20:44:47 -0400

BANGALORE: A new set of marquee investors are debuting in India's burgeoning consumer internet market. Bulge bracket names such as Canadian Pension Plan Investment Board ( ...

LG hikes prices as Re fall raises costs

Tue, 18 Jun 2013 20:44:46 -0400

Even though the emails were never sent, govt prosecutors argue that they help establish a pattern of Apple serving as a "ringleader" in a conspiracy with the publishers to force the retail book industry to adopt higher prices of ...

Panel seeks major easing of FDI limits

Tue, 18 Jun 2013 20:44:44 -0400

NEW DELHI: A government-appointed panel on Tuesday recommended major liberalization of overseas investment rules, including an increase in the foreign direct investment (FDI) ceilings for politically-sensitive sectors such as defence production, insurance, pension and multi-brand retail. The committee headed by economic affairs secretary Arvind Mayaram, which submitted its report to finance ...

FIIs pull out $4.6 billion from debt in 1 month

Tue, 18 Jun 2013 20:44:43 -0400

Late last month, the Planning Commission gave its nod to four-lane the 95-km stretch on NH-82 that connects Gaya, Rajgir, Nalanda and Biharsharif, at a cost of 1,500 ...

Stocks post solid gains Tuesday

Tue, 18 Jun 2013 20:23:16 -0400

U.S. markets churned higher Tuesday after the Commerce Department said price inflation remained muted in May. The report by itself had negligible effect. But every report of late has been held up to the light to see how it might affect the U.S. Federal Reserve's monetary policy announcement expected Wednesday. Low inflation means the economy is not overheating. In turn, some investors have ...

Goldman Bets on Cheapest Asia Market After China

Tue, 18 Jun 2013 19:42:26 -0400

Asia's emerging markets have been among the worst hit amid the recent rout in global stocks, but Goldman Sachs advocates accumulating South Korean equities now, on the basis that the market will fare well in a rising rate environment. "In a rising rate environment...more cyclical markets like Korea may benefit given their higher sensitivity to global growth than rates," strategists ...

Will the Trade Data Boost Abenomics

Tue, 18 Jun 2013 19:42:25 -0400

Japan's economic outlook could get a boost on Wednesday, with data expected to show a rise in exports and a pick-up in domestic consumption that could offer Japan's radical economic policies a respite after the bad press they have received recently amid a heavy sell-off in stocks. Economists told CNBC that they expected Japan's trade deficit to widen in May, adding that they ...

In China Blackmail Is the Name of the Game

Tue, 18 Jun 2013 19:42:24 -0400

How to Succeed Through Blackmail ) The extortion boom comes at a time when many Communist Party members are begrudgingly enduring a government austerity campaign, pushed by President Xi Jinping himself, that has denied them the expensive, taxpayer-financed banquets and chauffeured sedans once considered the birthright of Chinese officialdom. More than 2,000 officials have been investigated and ...

NTPC CIL settle coal quality row

Tue, 18 Jun 2013 19:39:11 -0400

That’s how many engineers graduate in India every year. And they have never found it so hard to land a job. Some blame the slack job market, others point to poor quality of colleges and ...

Japan Airlines SKY SUITE named Best Business Class Airline Seat

Tue, 18 Jun 2013 16:11:09 -0400

JAL SKY SUITE was today named "Best Business Class Airline Seat" globally, based on the world's largest airline passenger satisfaction survey conducted by SKYTRAX. Japan Airlines (JAL) received the top honor for its new fully-flat Business Class seat at SKYTRAX's 2013 World Airline Awards held at Paris Air Show. JAL is the first Japanese airline to win the Best Business Class ...

Toshiba to cut TV business costs by $104 million this fiscal year - Nikkei

Tue, 18 Jun 2013 15:34:44 -0400

(Reuters) - Japan's Toshiba Corp plans to cut about 10 billion yen (66.4 million pounds) in costs this fiscal year by reorganizing its network of television factories in Indonesia, China and Poland, the Nikkei said, citing company sources.Toshiba wants to make its TV operations profitable this year by overhauling its global production network and raising prices after the business lost almost ...

Toyota to expand academies for young children

Tue, 18 Jun 2013 10:56:40 -0400

FRANKFORT, Ky. - Toyota says it will expand an early childhood learning initiative into 12 more schools around the state in the coming school year.Media reported that Toyota Motor Manufacturing Kentucky Inc., Toyota Motor Engineering & Manufacturing North America, Gov. Steve Beshear and the United Way of Kentucky, made the announcement Monday in Frankfort. In addition, the companies said ...

Panel for hiking FDI limits in defence retail telecom

Tue, 18 Jun 2013 10:48:18 -0400

Porsche introduces revamped Cayman S in India

Tue, 18 Jun 2013 10:48:16 -0400

That’s how many engineers graduate in India every year. And they have never found it so hard to land a job. Some blame the slack job market, others point to poor quality of colleges and ...

Phaneesh sex scandal iGate faces class action lawsuit

Tue, 18 Jun 2013 09:42:15 -0400

class action lawsuit in the US for alleged violations of federal securities laws in view of its sacked CEO Phaneesh Murthy's "improper relationship" with a subordinate employee. The suit has been filed on behalf of persons or entities who purchased or acquired securities of iGate between March 14, 2012 and May 21, 2013. The New York-Based law firm, Pomerantz Grossman Hufford ...

Rupee falls 1.5 to record closing low

Tue, 18 Jun 2013 09:42:10 -0400

MUMBAI: The rupee fell 1.5 per cent to a record closing low on Tuesday as traders worried that the country's current account deficit made the currency especially vulnerable to any scaling back of the US Federal Reserve's monetary stimulus. The rupee is expected to remain hostage to global currency movements ahead of the outcome of the Fed's monetary policy meeting on Wednesday. Any ...

WRAPUP 1-Asian stocks to lead the way to years end Fed seen pulling back - poll

Tue, 18 Jun 2013 09:22:18 -0400

Member Benefits Manage your personalised Watchlist. Set up an online Virtual Portfolio. Participate in Share Chat. See more trades and director dealings. Play the Fantasy Share Trading ...

Airshow Airbus clinches $11 billion easyJet order

Tue, 18 Jun 2013 08:38:35 -0400

Airbus clinched a deal on Tuesday worth about $11 billion to supply British budget airline easyJet with 135 planes, dealing a blow to its U.S. rival Boeing. EasyJet agreed to buy 35 current-generation A320 aircraft and 100 new-generation A320neo jets, with options for a further 100, the airline announced on the second day of the ...

Sensex slips 103pts on profit-booking

Tue, 18 Jun 2013 07:34:42 -0400

Retreating from one-week highs, the Sensex today closed nearly 103 points down at 19,223.28 on selling in bluechips like HDFC Bank, ICICI Bank and ...

CII delegation accompanies Anand Sharma to Russia

Tue, 18 Jun 2013 07:34:41 -0400

According to Sharma, the macros and interest rates are not supportive of growth right now. "RBI's policy has done a huge damage to India's growth prospects," he ...

Maersk plans alliance with two biggest shipping rivals

Tue, 18 Jun 2013 06:47:34 -0400

Reuters © A crew member works as cargo is unloaded from Emma Maersk, one of the world's largest containers which is designed to carry 15,000 twenty-foot equivalent units (ETU), at Container Terminal 9 at Hong Kong's Kwai Chung district September 7, 2012. REUTERS/Bobby ...

HCL Infosystems Q3 net up 3 pc

Tue, 18 Jun 2013 06:41:49 -0400

Public sector lender Bank of Baroda was among the big losers, down over 3%, while Axis Bank fell 2.2%. PNB, HDFC Bank and IndusInd Bank also ...

Hong Kongs jobless rate falls to 3.4 pct in March to May

Tue, 18 Jun 2013 06:37:35 -0400

Hong Kong's seasonally adjusted jobless rate in March to May fell to 3.4 percent from 3.5 percent in the three months ended April, the city's statistics department said in Hong Kong on Tuesday.The unemployment rate was mainly observed in the transportation, arts, entertainment and recreation sectors.Total employment increased by around 17,200 from 3,718,300 in February to April 2013 to ...

Gold silver prices rebound on weak rupee

Tue, 18 Jun 2013 06:31:37 -0400

Rupee to remain under pressure experts say

Tue, 18 Jun 2013 06:31:36 -0400

rupee would remain under pressure due to the strengthening of the dollar against major global currencies and the widening trade deficit, experts tracking ...

16 FDI proposals worth Rs 1647cr cleared

Tue, 18 Jun 2013 06:31:35 -0400

NEW DELHI: The government has approved 16 projects envisaging foreign investment worth Rs 1,647 crore, while deferring Punj Lloyd's proposals for lack of security clearance. "Based on the recommendations of the Foreign Investment Promotion Board (FIPB) in its meeting held on May 10, 2013, government has approved 16 proposals ...

Rupee weakens by 59 paise on sustained dollar demand

Tue, 18 Jun 2013 06:23:56 -0400

The rupee weakened by 59 paise to 58.46 against the American currency in the late morning trade on sustained dollar demand from banks and importers on the back of higher dollar overseas amidst capital outflows.The rupee resumed lower at 58.25 per dollar as against the last closing level of 57.87 per dollar at the Interbank Foreign Exchange (Forex) Market and dropped further to a low of 58.46 per ...

Hang Seng closes flat

Tue, 18 Jun 2013 06:23:39 -0400

(45 mins ago) Stocks in Hong Kong ended flat in cautious trade as investors wait to see what the US Federal Reserve's plans are for its stimulus scheme. The benchmark Hang Seng Index edged down 0.02 points to 21,225.88 on turnover of HK$59.00 ...

Rupee down 36 paise vs dollar

Tue, 18 Jun 2013 04:23:36 -0400

rupee on Monday weakened by 36 paise to close at 57.87 against the US currency on fresh dollar demand from importers and some banks even as RBI kept its policy rates on hold and stock markets posted gains. At ...