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1 day ago
Food, fuel prices accelerate November WPI inflation

New Delhi, Dec 14 (IANS) An exponential rise in food and fuel prices especially those of onions and diesel pushed India's annual rate of inflation based on wholesale prices higher to 3.93 per cent for November, official data showed on Thursday. According to data from the Ministry of Commerce and Industry, the wholesale price index (WPI) accelerated to 3.93 per cent in November from 3.59 ...

8 days ago
Toyota Kirloskar Motor likely to hike prices from January

Mumbai, Dec 7 (IANS) Automobile manufacturer Toyota Kirloskar Motor on Thursday said that it will likely hike prices across its models by up to three per cent from January 2018. According to the company, it considered the price rise after reviewing input and freight costs periodically, which is also a general industry phenomenon. There has been an increase in the cost of manufact...

22 days ago
Egypt arrests spy network backed by Qatar

Cairo, Nov 23 (IANS) The Egyptian General Intelligence Agency said on Wednesday the previously arrested spy network financed by Turkey was also supported by Qatar, official MENA news agency reported. The 29-member spy ring worked upon directives from the Turkish intelligence which financed them with a clear Qatari support, said the intelligence investigations. Earlier on Wednesda...

1 month ago
October inflation data in line with industry expectations: India Inc.

New Delhi, Nov 14 (IANS) India Inc. on Tuesday said the rise in inflation numbers for October is in line with the industrys expectations owing to factors like marginal rise in demand together with increase in prices of crude oil and other commodities globally. However, the policymakers must take corrective action to address challenges like rising interest rates, twin balance sheet and li...

1 month ago
Sony shares soar after forecast of record profit

Tokyo, Nov 1 (IANS) The shares of Japanese multinational tech company Sony rose over 11 per cent on the Tokyo Stock Exchange on Wednesday. It had earlier forecast record earnings in 2017 due to boost in semiconductors and favourable exchange rates, Efe news reported. The shares of Sony rose to a nine-year high as it registered a rise of 9.76 percent and stood at $42.5. (at 10 a.m...

1 month ago
HCL net up 8.6% yearly, flat quarterly in Q2

New Delhi, Oct 25 (IANS) HCL Technologies on Wednesday reported Rs 2,188 crore consolidated net profit for the second quarter (Q2) of fiscal 2017-18, registering a 8.6 per cent yearly growth and 0.8 per cent flat quarterly growth in rupees. The net profit was Rs 2,014 crore in the same period a year ago and Rs 2,171 crore a quarter ago. In a regulatory filing on the BSE, the Noid...

4 months ago
Inflation rises as food, fuel prices rise

New Delhi, Aug 14 (IANS) An exponential rise in food and fuel prices pushed up India's two key inflation gauges -- wholesale price index and consumer price index -- in July, official data showed on Monday. The annual rate of inflation based on wholesale prices went up in July 2017 to 1.88 per cent from 0.90 per cent in June. On a year-on-year (YoY) basis, the WPI had risen by 0.63 per ce...

4 months ago
India Inc calls for revision of prices of certain products

New Delhi, Aug 14 (IANS) Raising concern on the rising wholesale price index (WPI) numbers for July, India Inc on Monday said policymakers should check and address prices of products still at higher levels and are of national importance. Continuous increase in the prices of petrol and high speed diesel due to rise in prices of crude oil globally have to be taken care of by policymakers s...

4 months ago
HCL net up 6% yearly, down 6.6% quarterly in Q1

New Delhi, July 27 (IANS) Global software major HCL Technologies on Thursday reported a Rs 2,171 crore consolidated net profit for the first quarter (Q1) of fiscal 2017-18, registering 6.1 per cent annual growth from Rs 2,047 crore in the like period year ago but 6.6 per cent lower sequentially from Rs 2,326 crore a quarter ago. In a regulatory filing on the BSE, the IT major said consol...

5 months ago
Clamour for rate cut rises after WPI falls further

New Delhi, July 14 (IANS) India Inc. on Friday called for an easing of the monetary policy by the Reserve Bank of India (RBI) in line with June's deceleration in the country's annual rate of inflation based on wholesale and retail prices. Corporate India's calls for a reduction of key lending rates comes after Friday's data from the Ministry of Commerce and Industry showed that a massive...

5 months ago
Arvind Ltd focusing on multipronged strategy for growth

Mumbai, July 4 (IANS) Textile major Arvind Limited is focusing on a multipronged strategy for its growth and intends to become a strategic partner with its customers, a top company official said on Tuesday. Our strategy will be built on four planks -- sustainability, innovation, verticalisation and multi-fibre, company's Chairman and Managing Director Sanjay Lalbhai told BTVi in an inter...

5 months ago
Is RBI's hawkish stance hurting India's growth prospects?

The role of interest rate in Indias growth is grossly underplayed. The movement of interest rates has been strongly linked to episodes of high growth and slowdowns in the last few decades. There are two major puzzles of the Indian economy that have been surprisingly left unquestioned and can be explained with India's monetary policy actions. First, contrary to popular belief, th...

6 months ago
India Inc. calls for policy easing as inflation lowers

New Delhi, June 14 (IANS) India Inc. on Wednesday called for an easing of the monetary policy in line with last month's deceleration in the country's annual rate of inflation based on wholesale prices. According to data from the Ministry of Commerce and Industry, the wholesale price index (WPI), with the revised base year of 2011-12, decelerated in May 2017 to 2.17 per cent from 3.85 per...

6 months ago
To transform, India needs to improve competitiveness of its states

India has become the fastest-growing economy in the world. The next logical steps are to make this trend sustainable and to ensure that the benefits of this growth percolate down to the lowest rungs of the income hierarchy. The success of these two goals will highly depend on the improvement in the country's national competitiveness. This is because, to maintain high growth in the global...

7 months ago
India needs to rethink strategy for the IT sector

The Indian IT industry is at the crossroads. It first suffered the long-expected shock of the Trump administration's policy shift against the H1B work visa programme. The US President's executive order makes it impossible for IT firms to bring overseas low-skilled engineers into the US for on-site postings. Indian IT firms, which are the largest applicants for H1B visa, have the most to lose.

10 months ago
Chinese yuan weakens against USD

Beijing, Feb 10 (IANS) The Chinese yuan on Friday weakened against the US dollar, which was pushed up by American President Donald Trump's tax cut plan. The central parity rate of the yuan stood at 6.8819 against the US dollar, weakening from 6.871 on Thursday, according to the China Foreign Exchange Trade System. The White House said Trump plans to unveil comprehensive tax refor...

10 months ago
Japan rejects Trump's accusations of currency manipulation

Tokyo, Feb 1 (IANS) Japan on Wednesday denied it has been manipulating its foreign exchange market to devalue the yen, rejecting allegations by US President Donald Trump, a media report said. Japanese government spokesman Yoshihide Suga rejected Trump's charges as completely baseless, Efe news reported. Suga denied that Japan intervenes in the foreign exchange market. He said the...

10 months ago
HCL projects 10-12% growth; net up 7.8% in Q3

New Delhi, Jan 24 (IANS) Software major HCL Technologies Ltd on Tuesday reported that its revenue for the fiscal 2016-17 would grow 10-12 per cent in dollar terms. We expect our annual revenue for this fiscal (FY 2017) to be in the middle of 10-12 per cent range in dollar terms, based on the December 31 exchange rates, said the Noida-based IT services firm in a statement here. Th...

10 months ago
HCL projects 10-12% growth; net up 7.8% in Q3 Lead

New Delhi, Jan 24 (IANS) Software major HCL Technologies Ltd on Tuesday reported that its revenue for the fiscal 2016-17 would grow 10-12 per cent in dollar terms, as projected in October. We expect our annual revenue for this fiscal (FY 2017) to be in the middle of 10-12 per cent range in dollar terms, based on the December 31 exchange rates, said the Noida-based IT services firm in a s...

10 months ago
HCL retains double-digit revenue growth outlook

New Delhi, Jan 24 (IANS) Global software major HCL Technologies Ltd has retained its annual double-digit revenue growth for fiscal 2016-17 in dollar terms. In a regulatory filing to the stock exchanges, the Noida-based outsourcing firm said revenue for this fiscal (FY 2017) would grow 10-12 per cent in dollar terms based on the December 31 exchange rates. We expect our FY2017 rev...

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