September 3: News in Pictures
September 3: News in Pictures
Engineers attend to calls from abroad inside a call center in Gurgaon on the outskirts of New Delhi
Growth in India's service sector slowed for a second month in August after hitting a two-year peak in June, but businesses were more optimistic about the outlook, a survey showed on Friday.
The HSBC Markit Business Activity Index, based on a survey of 400 firms, eased to 59.3 in August from 61.7 the previous month, but stayed well above the 50 mark that divides growth from contraction.
The data continued to reflect sharp growth in the Indian service sector, with the strongest expansions in postage & telecommunications as well as services such as sports clubs, the survey showed.
A similar survey released on Wednesday showed India's manufacturing sector expanded for the 17th successive month in August, although at a slightly slower pace than in July, supported by strength in new orders.
Although all service sector sub-inde
A worker smokes in front of a billboard featuring a US dollar banknote on a street in Taiyuan, Shanxi province
There is no concern on capital flows into India as of now, K C Chakrabarty, deputy governor at the Reserve Bank of India, said on Friday.
He was speaking on the sidelines of a banking conference
The Bombay Stock Exchange (BSE) is lit up in Mumbai
Shares in Mahindra Satyam rose as much as 11.6 per cent on Friday afternoon, after the outsourcer said late on Thursday it had won a multi-million dollar technology services deal from a large health insurer.
At 3:17 pm, Mahindra Satyam shares were up 10.9 per cent at Rs 91.60, while the main stock index dropped 0.1 per cent.
Chairman of Bharti Airtel Ltd. Sunil Mittal speaks during a news conference in New Delhi
Bharti Airtel, India's No 1 mobile operator, appointed the son of its billionaire founder-chairman as a manager, raising speculation he was being groomed for a top position in the $27 billion company.
Shravin Bharti Mittal, 23, one of twin sons of Sunil Bharti Mittal, will be part of Bharti's international operations, the company said in a statement.
\"I think Mittal's message to his son is 'start from the shop floor and prove your mettle before you get elevated to a senior position',\" said Jagannadham Thunuguntla, head of equity at SMC Capitals in New Delhi.
The appointment comes in the wake of succession talks among Indian businesses, which are mostly family-driven.
Wipro Ltd, the country's third-biggest outsourcer of IT services, this week named its founder-chairman Azim Premji's oldest son, who is widely se
A customer is served at a counter at a foreign exchange store in Hong Kong. A new conundrum faces financial markets -- why, if the global economy is heading back into trouble, are companies on an M&A binge and big investors snapping up so much corporate debt?
At one level, the answer would seem to point to a world of short-term worries that are not seen likely to come to pass or, even if they do, will not derail longer-term growth prospects.
But there are also specific reasons for the moves that paint a less stable picture. It may be another case of there being just so much money around that it has to go somewhere.
A logo is seen at a BP fuel station in London
BP Plc said it removed a cap from equipment atop its ruptured Gulf of Mexico oil well on Thursday, the first of several steps in advance of plugging the leak for good.
Spokeswoman Jessie Baker said underwater robots removed the cap as planned.
The next step will be to remove a failed blowout preventer on the wellhead and replace it with another. Then BP can resume drilling a relief well that will intercept the blown-out Macondo well and inject mud and cement for a permanent plug.
The failed blowout preventer is key evidence in criminal and civil investigations into the April 20 blowout that led to an explosion aboard the Deepwater Horizon drilling rig and killed 11 men. More than 4 million barrels of oil spewed into the sea.
It will be taken to a NASA facility in Michoud, Louisiana, for forensic study by the US Coast Guard and the US Bureau of Ocean Energy Management, which are joi
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