NEW DELHI - Ajit Lakha, who runs a mid-sized garment export business in the north Indian textile hub of Ludhiana, prays daily before leaving for work that the rupee will weaken and the euro recover to cut the losses he is taking on his overseas sales.
Sun, Apr 26 2015
MUMBAI - Ratan Tata, chairman emeritus of the holding company of the Tata conglomerate, has acquired a stake in Xiaomi Technology, a deal that is likely to bolster the Chinese phone maker's presence in the world's third-largest smartphone market.
NEW DELHI - Indian Oil Corp , the country's biggest refiner, on Sunday began crude processing at its 300,000 barrel per day (bpd) Paradip refinery and aims to fully commission the plant in six months, two company sources said, potentially adding to the glut of oil products in the region.
Fri, Apr 24 2015
NEW DELHI - India's parliament began debating the goods and service tax (GST) on Friday that seeks to transform the country into a common market, but experts said compromises made to enlist the support of states risked diluting the impact of the biggest tax reform in decades.
MUMBAI - State Bank of India's plan to raise up to 150 billion rupees ($2.4 billion) via a share sale will now likely take place in June instead of April due to a fall in the lender's stock price, three sources directly involved in the process told Reuters.
Sun, Apr 26 2015
FRANKFURT - Ferdinand Piech's iron-fisted rule over Volkswagen helped him build an empire spanning fuel-efficient city cars to 40-tonne trucks, but in the end he overplayed his hand and was forced out before reaching his goal of making VW the world's biggest carmaker.
FRANKFURT - Deutsche Bank's earnings fell by half in the first quarter, a greater-than-expected drop as hefty legal charges eroded gains in investment banking revenue, while it prepares to unveil details of a strategic overhaul.
BRUSSELS - "We're going bust." "No, you're not." "You're strangling us." "No we're not." "You owe us for World War Two." "We gave already."
SHANGHAI/HONG KONG - Bankers at China's top state lenders are quitting in increasing numbers because of cuts to their pay and perks, and moving to a new breed of financial firms such as leasing companies, trusts and online platforms, bankers and headhunters say.
SINGAPORE/TOKYO - One by one, Japan is turning off the lights at the giant oil-fired power plants that propelled it to the ranks of the world's top industrialised nations. With nuclear power in the doldrums after the Fukushima disaster, it's solar energy that is becoming the alternative.