Thursday, February 21, 2013

Business:2/21/2013 8:11:37 AM



IAP taking pharma funding is illegal: MCI

The Indian Academy of Pediatrics has been flouting Medical Council of India regulations on two fronts--one it has been accepting funding from the pharma industry in direct contravention of the rule that no medical association or doctor may accept any freebie or funds from the pharma and healthcare industries.






Airtel sued for stopping services, will pay Rs 10K

Bharti Airtel has been directed by a consumer forum here to pay Rs 10,000 as compensation to a mobile phone subscriber for disconnecting services without any notice.






Rupee sees worst day in 1-1/2 months

The Indian rupee fell its most in one-and-a-half months on Thursday as global risk aversion pushed local stocks sharply lower, with the currency awaiting cues from the federal budget next week.






US CEO ridicules French 'time-wasting' workers

A letter from Maurice Taylor, CEO of tiremaker Titan International, blasted the French work ethic ruffling France's feathers.






TVS Logistics acquires UK-based Rico Logistics

TVS Logistics Services Ltd has acquired 85% stake in UK-based Rico Logistics- a distribution and inventory management company.Both companies will operate under one brand - TVS Supply Chain Solutions.








Rupee down 34 paise in late morning trade

The rupee dropped by 34 paise to 54.41 in late morning trade on Thursday due to renewed dollar demand from banks and importers as the US currency strengthened in the overseas market.






Gold drops by 1% to lowest in 7 mnths

Gold futures in India, the world's biggest consumer of the metal, fell 0.9 percent on Thursday morning to their lowest level in seven months.




Rupee down 25 paise in early trade

The rupee depreciated by 25 paise to 54.32 against the dollar in early trade on Thursday on the Interbank Foreign Exchange due to renewed demand for the US currency, amid weak equities.






Rupee down 25 paise in early trade

The rupee depreciated by 25 paise to 54.32 against the dollar in early trade on Thursday on the Interbank Foreign Exchange due to renewed demand for the US currency, amid weak equities.








Sensex down 140 points in early trade

Snapping a three-day gaining streak, the BSE benchmark sensex declined by over 140 points in early trade on Thursday.




Sensex down 140 points in early trade

Snapping a three-day gaining streak, the BSE benchmark sensex declined by over 140 points in early trade on Thursday.






ONGC, OIL eye Videocon stake in Mozambique field

Flagship explorer Oil and Natural Gas Corporation (ONGC) is negotiating a possible deal to buy Videocon out of a huge gas find in Mozambique but a high asking price of $3 billion and associated liabilities is proving to be a hurdle, sources said.






AI cuts fares up to 40% on domestic flights

A day after Jet Airways offered 20 lakh seats at Rs 2,250 for travel till the year-end and all no-frill carriers — IndiGo, SpiceJet and GoAir — followed suit, Air India on Wednesday evening launched special fares offering a discount of up to 40% on one-way regular fare charged by it on its domestic flights.








Salaries set to rise over 10% this year: Survey

Double-digit salary hike is in store for Corporate India this year although the economic slowdown may upset some calculations, a survey released on Wednesday said.






More options, low prices for flyers

"Now everyone can fly". Malaysian low-cost carrier (LCC) AirAsia makes this bold proclamation on each of its aircraft and the airline's JV in India could well signify the same for flyers here.






Airtel, Voda challenge airwave auction

India's two biggest mobile phone operators, Bharti Airtel Ltd and Vodafone India, challenged in court a government move to auction airwaves in a band they already use.






Civil Aviation Authority to replace DGCA: Minister

Aviation regulator Directorate General of Civil Aviation would soon be replaced with a Civil Aviation Authority to regulate the troubled sector, which has been facing mounting financial and operational issues, Civil Aviation Minister Ajit Singh said Wednesday.








Volvo to launch 'value' bus brand in India next year

Swedish automotive major Volvo is gearing up for a "value'' game in the fast growing Indian bus market.






Sensex gains for third day, RIL rises

The BSE benchmark Sensex on Wednesday closed seven points up on the back of a strong rally in market heavy Reliance Industries amid a firming global trend.






FDI inflows dip 19% at $1.1bn in Dec '12

Falling for the second straight month, India's foreign direct investment (FDI) inflows declined nearly 19 per cent to USD 1.10 billion in December 2012.






Rupee up 8 paise vs dollar in early trade

The rupee today appreciated by eight paise to 54.10 against the US dollar on the Interbank Foreign Exchange (Forex) market in early trade on increased foreign fund flows amid firm local equities.








Sensex up over 106 points

Continuing its rising streak for the third straight session, the BSE benchmark Sensex today rose by over 106 points in early trade on sustained buying by funds and retail investors amid a firm trend in other Asian bourses.






Sahara plans to set up thinktank in UK

Subrata Roy Sahara on Monday met British Prime Minister David Cameron to commit to a project that has the potential to generate thousands of jobs in the UK and would also benefit a large number of Indians looking at UK for business and education.






Biyani front-runner to acquire Spykar

Future Group founder Kishore Biyani has emerged as the surprise frontrunner to snap up homegrown denim brand Spykar, after Avigo Capital, which has majority stake, put it on the block last year.






Top jobs at banks, regulatory agencies fall vacant

India's financial sector is set to don a fresh look over the next 12 months with new chiefs at nearly a dozen financial institutions and three out of the four regulatory bodies.






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