Home » Business You are browsing entries filed in “Business”

Onion Prices In India To Rise Further By 10% On Tight Supplies

Onion Prices In India To Rise Further By 10% On Tight Supplies

Onion prices are likely to increase further by 10 per cent on tight supplies due to unseasonal rains affecting the crops.
MUMBAI: Onion prices, which are already ruling at around Rs 80 per kg in most parts of the country, are likely to increase further by 10 per cent on tight supplies due to unseasonal rains [...]

August 30th, 2015 | Posted in Business, South Asian | Read More »

This Week’s Stock Market Crashes Shaves Billions Off Valuation

This Week’s Stock Market Crashes Shaves Billions Off Valuation

MUMBAI – As the BSE Sensex tumbled more than a 1,000 points on Monday in early trade, the total investor wealth crashed below the Rs 100 lakh crore mark while wiping out more than Rs two lakh crore worth valuation within minutes after the day’s trading began.
The total investor wealth, measured in terms of collective [...]

August 30th, 2015 | Posted in Business, International | Read More »

Why is China Slowdown Creating Ripples Across World Markets?

Why is China Slowdown Creating Ripples Across World Markets?

SHNGHAI – Asian stocks nosedived on Monday, led by sharp falls in Shanghai as concerns rose over the health of China’s economy — the world’s second largest.
Although China, a major engine of global growth, has been slowing for some time, financial markets have nevertheless tumbled over fears its economic growth will decelerate faster than expected.
Here [...]

August 30th, 2015 | Posted in Business, International | Read More »

India’s RuPay Seeks To Challenge Visa And MasterCard’s Grip

India’s RuPay Seeks To Challenge Visa And MasterCard’s Grip

NEW DELHI – Hiding behind Prime Minister Narendra Modi’s high-decibel financial inclusion push is a rather unnoticed growth story: RuPay, India’s own payment gateway.
About 190 million, or one in three of the total 580 million debit cards currently in use in India are RuPay cards.
Clearly, the Pradhan Mantri Jan Dhan Yojana (PMJDY) have given a [...]

August 24th, 2015 | Posted in Business | Read More »

Alibaba Founder Jack Ma Plans To Buy Back $4 Billion Worth Of Shares

Alibaba Founder Jack Ma Plans To Buy Back $4 Billion Worth Of Shares

BEIJING – Chinese e-commerce giant Alibaba’s founder and chairman Jack Ma and vice chairman Joe Tsai said they would use their own money to buy the company’s shares as it began a two-year plan to buy-back shares worth USD 4 billion.
China’s biggest e-commerce company, however, did not disclose, in its filing to the New York [...]

August 24th, 2015 | Posted in Business | Read More »

U.S. Firm Signs Deal With Haryana Government To Create 2,000 Jobs

U.S. Firm Signs Deal With Haryana Government To Create 2,000 Jobs

NEW YORK – The Haryana government has signed a deal with a leading U.S. firm to manufacture air conditioners at an eight acre facility in Gurgaon that will generate about 2,000 jobs.
The Memorandum of Understanding (MoU) was signed between the Connecticut-based firm United Technologies and Haryana Chief Minister Manohar Lal Khattar.
Under the MoU which was [...]

August 24th, 2015 | Posted in Business | Read More »

Pakistan, Afghanistan To Increase Trade To $5 Billion

Pakistan, Afghanistan To Increase Trade To $5 Billion

ISLAMABAD – Pakistan and Afghanistan have agreed to increase bilateral trade to $5 billion by the end of 2017, said adviser on National Security and Foreign Affairs Sartaj Aziz.
The national assembly was informed on Monday that Pakistan’s engagement with the new Afghan leadership is resulting in qualitative transformation of bilateral relations, Radio Pakistan reported.
Aziz told [...]

August 17th, 2015 | Posted in Business | Read More »

Foxconn To Invest $5 Billion In India And Generate 50,000 Jobs

Foxconn To Invest $5 Billion In India And Generate 50,000 Jobs

BANGALORE – The biggest foreign direct investment (FDI) happened in the country as tech manufacturing giant Foxconn Technology Group will invest over $5 billion in the state of Maharashtra in account of a manufacturing project, reports The Indian Express.
Foxconn Technology Group, is the manufacturing unit of Apple phones. The company client list include names of [...]

August 17th, 2015 | Posted in Business | Read More »

India’s Car Sales Up 17% On Smart Pricing

India’s Car Sales Up 17% On Smart Pricing

NEW DELHI – Car sales grew 17% in July, the highest since April, boosted by a lower base and aggressive pricing by manufacturers.
According to numbers released by industry body Society of Indian Automobile Manufacturers (Siam), sales volumes in July stood at 1.6 lakh units against the near 1.4 lakh units sold in the same month [...]

August 17th, 2015 | Posted in Business | Read More »

India-Based Snapdeal Raises $500m From Foxconn, Alibaba, Softbank

India-Based Snapdeal Raises $500m From Foxconn, Alibaba, Softbank

NEW DELHI – Taiwan’s Foxconn and Chinese e-commerce giant Alibaba are investing about $200 million each in Snapdeal, while Softbank — the largest shareholder in Snapdeal — is infusing additional $100 million, sources said. This makes Jasper Infotech —which runs Snapdeal — richer by about $500 million.
After closure of this fresh investment, Softbank would further [...]

August 8th, 2015 | Posted in Business | Read More »