- TCG in talks with global firms for Odisha and Tamil Nadu mega projects
- DoT's test checks on telcos AGR dues standard audit procedure: COAI
- Centre approves levy of 28% GST on lotteries from March 1, rate notified
- Mega bank consolidation: Meeting April 1 deadline appears challenging
- RBI alone cannot contain inflation, govt too has responsibility: Rangarajan
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Finance Minister Pranab Mukherjee speaks during a business meeting in New Delhi in this July 7, 2009 file photo.
Finance Minister Pranab Mukherjee on Wednesday said he was concerned about high inflation, although headline inflation seems to be on the decline now.
Wholesale price inflation touched a 17-month high of 9.9 percent in March, and analysts expect it to ease to 9.5 percent when data for April is released on Friday.
A traffic policeman directs traffic under an advisement of Bharti Airtel at a booth in Ahmedabad in this July 2009 file photo.
Bharti Airtel, India's top mobile operator, on Wednesday said the telecoms regulator's proposals on allocation of second-generation (2G) spectrum are "shocking, arbitrary and retrograde" and are against all existing global norms for spectrum allocation.
On Tuesday, the telecoms regulator recommended companies pay a one-time fee for holding 2G radio-spectrum beyond 6.2 mega hertz (MHz) based on 3G prices, a move that will hit established operators dominant on the GSM platform.
"We are confident that the DoT and the government will take a rational approach and summarily reject these arbitrary, impractical and perverse recommendations," Bharti Airtel said in a statement.
Newly built motorbikes are seen at the Bajaj Auto plant in Pune, about 130 km (82 miles) from Mumbai in this August 2007 file photo.
Bajaj Auto, India's second-largest bike maker, said maintaining profit margins at current high levels would be a challenge after reporting its profit more than quadrupled in the final quarter.
Bajaj Auto, which is planning to launch a super low-cost car with partners Nissan Motor Co and Renault SA in 2012, beat forecasts with a net profit of 5.29 billion rupees ($117.3 million) for the quarter to March, versus 1.3 billion rupees a year ago.
Its operating margin rose to 22.9% from 14.2% a year ago.
The rise in raw material prices in the fourth quarter had been negated to some extent by robust sales, Kevin D'sa, vice president, finance told Reuters.
The head office of Japanese pharmaceutical company Takeda Pharmaceutical Co. is seen in Tokyo July 9, 2009.
Japan's top drugmakers have predicted their profits would slide this year as they lose patent protection on some of their main products and struggle on their own to develop a new batch of hit drugs.
The need for new growth drivers has already prompted Takeda Pharmaceutical and Daiichi Sankyo to make big overseas acquisitions, while Astellas Pharma is waging a hostile bid for US-based OSI Pharmaceuticals.
Industry leader Takeda, which warned that sales and profits would drop over the next three years before bottoming out, said it would look for opportunities to buy a product or a rival company to get it back on a growth track.
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