March 7: Pictures of the day
March 7: Pictures of the day
India's Central Bureau of Investigation (CBI) officials escort Shahid Balwa (C, in black) at the CBI headquarters in New Delhi.
Shares in developer DB Realty hit a record low on Monday after its Managing Director Shahid Balwa, embroiled in a widening telecom corruption investigation, resigned from his position.
The Mumbai-based company's shares opened 15% lower at Rs 100, after DB said its board had accepted Balwa's resignation with effect from Feb. 9, in view of his preoccupations relating to certain investigations.
The stock recovered partially, but was still trading 3% lower at 0510 GMT. Shares in the company, which went public in February 2010, are down 42% so far this year, and are less than a fourth of their listing price of Rs 468.
\"The management is preoccupied with getting Balwa released. Day-to-day decision-making seems to have gone for a toss,\" said a sector analyst at a Mumbai brokerage, who declined to be name
A teller counts euro banknotes inside a branch of National bank of Greece in Athens/
India's unpredictable and non-transparent business climate could derail the growth of trade ties between Britain and Asia's third largest economy, British Prime Minister David Cameron has warned his Indian counterpart.
Regulatory delays over London-listed Cairn Energy's $9.6 billion asset sale to Vedanta Resources, and legal wrangling over India's $2.6 billion Vodafone tax demand were raised by Cameron in the letter sent to Indian Prime Minister Manmohan Singh last month.
Cameron, who visited India last year intent on securing big-ticket business deals, is keen on fostering substantial trade ties with the emerging power to boost economic growth in Britain, still struggling from the effects of the global recession.
Tata Consultancy Services (TCS) chief executive and managing director N. Chandrasekaran.India's top software services exporter Tata Consultancy Services' chief executive said demand across industries looked \"very good.\" Europe was recovering, but was slightly behind the curve, N Chandrasekaran, who is also managing director at the technology firm, said at a media briefing. TCS, whose clients include Citigroup and General Electric, posted a market beating 30-percent rise in quarterly profit in January as it saw the highest client additions in seven quarters.
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