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Exchange RatePatna: Bihar Chief Minister Nitish Kumar Wednesday won the trust vote in the assembly, proving his majority after dumping long-time ally the BJP. A total of 126 legislators voted for the motion moved by the chief minister while 24 voted against. The house has 243 members. Bharatiya Janata Party legislators walked out before the special session [...]
Category: Business
The business of deposits
Nupur Pavan Bang I, Prof. Nicky, had a tet-e-tet with Laxmiamma three weeks back. I was curious to know if she had taken heed of my advise and started investing. So I strolled out of our lush campus and walked into the nearby GPRS quarters. It is in one of these quarters that Laxmiamma had [...]
SBH sees 11% growth in profit
State Bank of Hyderabad (SBH) has registered an 11.32 per cent growth in net profit to `1,298 crore for the financial year 2011-2012. The increase in profit is primarily on the back of higher net interest income which grew by 18.11 per cent to `3,364 crore compared to `2,849 crore in the previous fiscal. The [...]
Rupee gains 5 paise vs dollar in early trade
The rupee rose by 5 paise to 52.50 against the American currency at the Interbank Foreign Exchange (Forex) market in early trade today as the American currency fell against Asian rivals. Besides, a higher opening in the equity market on buying by funds further supported the rupee, dealers said. The rupee had ended flat at [...]
India’s financial system is strong: RBI
Hyderabad: A day after global credit rating agency S&P cut India’s outlook to ‘negative’, RBI today said the country’s financial system is strong and sometimes these ratings are discounted by markets. It also said that the Reserve Bank will intervene in the forex market only if there is high volatility in the currency market, not just because [...]
‘E-retail set for growth’
Abhimanyu Lal, head of category management, eBay India talks about current eCommerce trends and the firm’s business, in an interview with Prudhvi Raju K. What was eBay Inc’s growth rate in the last fiscal? What is the average growth rate of the company since inception? eBay Inc has recorded a revenue growth of 27 per [...]
FinMin hits back, says Vodafone was aware of tax liability
New Delhi: The Finance Ministry today hit back at Vodafone’s claim that it was not told of the tax liability on the Hutchison deal, saying that the British telecom giant was provided a copy of the notice. “We have provided copies of the letter (about tax liability) to the concerned parties,” Hutchison Essar, which was later [...]
New mantra: Realty click
Are you looking for buying a property? Do you want to compare and contrast different properties that are on sale in any major cities being at your house? It all can be done at a click of mouse. Many real estate sites like Indiaproperty.com, 99acres.com are offering wide variety of services to the buyers, which [...]
MSat, TechM merger proposal to be taken up in June AGMs
Hyderabad: The merger proposal of Mahindra Satyam (MSat) with Tech Mahindra will be taken up in the Annual General Meetings (AGMs) of both the companies to be held in June, a top executive of MSat said here today. Both Bombay Stock Exchange and National Stock Exchange have given their nod for the merger proposal, according to MSat [...]
It’s just like home, say City Bengalis
Bengalis are not new to Hyderabad; the City of Pearls is home to the community members from the time of the Nizams. Many have served them in high capacities such as geologists, accountants, professors in Nizam College and also many in the CID wing of the Nizam’s police force. There are about four lakh Bengalis [...]
Tata Chroma goes online
MUMBAI: Ratan Tata and his successor-in-waiting on Monday launched the Tata group’s consumer electronics retail store Croma online. The Tata chairman heralded the opening of the subsidiary’s e-commerce operations with a purchase of smartphones and speakers at a press conference also attended by Cyrus Mistry. Mistry, a 43-year-old engineer, is currently deputy chairman but is [...]
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