September 14: The lensman`s view
September 14: The lensman`s view
Finance Minister Pranab Mukherjee speaks during the launch of UTI Mutual Fund's Investor Education and Financial Inclusion Initiative in Mumbai
Inflationary pressures remain in India and the Reserve Bank of India (RBI) will take appropriate steps at the appropriate time, Finance Minister Pranab Mukherjee said on Tuesday.
India's wholesale price index (WPI) rose an annual 8.5 per cent in August, the government said on Tuesday.
The data was the first of a new series with a different base year of 2004-05, new components and weightings. Under the old series, inflation was 9.5 per cent compared with a median forecast for 9.6 per cent in a Reuters poll.
A customer walks into a BlackBerry store in Mumbai
The government hopes its concerns about security issues related to BlackBerry services will be resolved, the telecoms minister said on Tuesday, giving the government access to electronic messages.
Governments in other countries, mostly in the Middle East, also fear consumers might use Research In Motion's BlackBerry services to aid terrorism or peddle pornography.
India had threatened to shut off RIM's encrypted email and instant messaging services unless it gained access to them.
After a deal with RIM, India began accessing earlier this month some of the traffic carried on BlackBerry smartphone devices in a campaign driven by fears that unmonitored email and messaging puts the country's security at risk.
Brokers trade on their computer terminals at a stock brokerage firm in Mumbai
Housing Development and Infrastructure has raised $250 million in a share sale to qualified institutional investors, two sources with direct knowledge of the deal said on Tuesday.
The share sale, which was launched on Monday, recieved strong response from overseas institutional investors, said a source, who declined to be named as he was not authorised to speak to the media.
Shares in HDIL were sold at Rs 268.18 each, the sources said.
A trader gestures and blows a paper horn in Makati's financial district of Manila
World stocks hit a more than 4-month high on Tuesday as investors continued to recover from their summer concerns about a slowing global economy.
MSCI's all-country world stock index hit a session high of 298.50, the highest level since May 5.
It put the index some 8.5 per cent higher than its August low, but still left it down around 0.4 per cent for 2010.
Investors have been encouraged to move back into riskier assets recently by signs that China's economy is still able to drive world trade and easing concerns about the stability of the world financial system.
File photo of people working at a call centre in Bangalore
A delegation of Indian IT companies will visit the United States next week to raise their concerns over what they fear are protectionist measures that could harm the $60 billion industry.
Analysts said a proposed new tax code by President Barack Obama that would end tax breaks for firms that create jobs and profits overseas was unlikely to hurt Indian outsourcers, but the move has spurred worries of future curbs on technology work that is sent overseas by US companies.
\"The new tax code the US is implementing will be applicable to companies headquartered in the US who retain their profit overseas and do not repatriate that to the US,\" said Ameet Nivsarkar, vice president of global trade at lobby group Nasscom.
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