Samsung eyes high profits
Samsung eyes high profits
Indian worker fills a car at a petrol pump in New Delhi
Carmakers in India face a quandary: diesel or petrol? In a market where once-rampant growth has been stalled since mid-2011, demand for diesel-powered cars continues to surge, with buyers willing to wait months to take delivery because of a widening gap between prices of petrol and diesel.
Even so, Maruti Suzuki and South Korea's Hyundai Motor, which together sell 70% of the passenger cars in Asia's No. 3 economy, are reluctant to invest to make more diesel cars, even if it means losing customers.
Pawan Munjal poses with a motorbike at the Auto Expo in New Delhi
Hero MotoCorp, India's largest motorcycle maker, expects double-digit percentage growth in sales to continue for the fiscal year starting in April, a top official said on Friday.
Rising interest costs and increasing prices have deterred buyers of cars in Asia's third-largest economy in recent months, but sales of motorcycles, used as a family vehicle by millions of Indians, have seen strong growth.
A man takes out a packet of yogurt from a refrigerator at a food store in Noida
The government is soon expected to issue the notification allowing 100% foreign direct investment in single brand retail, Industry Secretary, PK Chaudhery said on Friday.
After years of delay due to political opposition, the cabinet on November 24 approved 51% foreign ownership in multi-brand retail, with conditions, and full ownership in single-brand retail.
TV crews film the DAX board at the Frankfurt stock exchange
The euro was under pressure and safe-haven assets in demand on Friday on signs that fallout from the euro zone's debt crisis is hitting its banks, but hopes US jobs data later in the day would brighten the economic outlook lifted stocks.
The euro was down slightly on the day versus the dollar at $1.2776, having dropped as low as $1.2763, its weakest since September 2010 It was also a 16-month lows against the British pound and near an 11-year low versus the yen.
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