New Delhi: Hampi Express from Bangalore to Hospet in the wee hours on Tuesday met with an accident with a goods train near Penneconda in Andhra Pradesh. Five people are confirmed dead, 25 passengers have been reported injured and five are critical. Three bogies of the Hampi Express have been derailed. The accident caused the first two compartments of the train to catch fire. Rescue efforts are still underway in...
05:44 AM, May 22, 2012
New Delhi: Falling value of rupee is likely to further push up prices of manufactured goods and other commodities, adding to the woes of common man reeling under double-digit retail inflation, say experts. "There will be an impact on inflation...five per cent depreciation in the rupee will fuel local inflation by 15-20 basis points," Abheek Barua, chief economist, HDFC Bank said. The declining value of rupee, which has depreciated by...
03:17 AM, May 21, 2012
Chicago: Groupon Inc has hired another former eBay Inc executive to head its discount retailing arm Groupon Goods starting Monday, according to an internal email obtained by Reuters on Friday. The online coupon company named Faisal Masud to head the unit. Masud, who was head of global delivery experience at eBay, will report to Kal Raman, whom Groupon named head of its Americas region on Thursday. Masud takes over from...
12:02 PM, Apr 28, 2012
New Delhi: Budget 2012 presented by Finance Minister Pranab Mukherjee on Friday, March 16, makes eating out and phone bills and other comforts of life costlier, pinching the common man. Increase in service tax will increase one's mobile bills by 2 per cent every month. Two and four wheelers will get more expensive and so will refrigerators, air conditioners (ACs), washing machines, watches, cosmetics and tobacco products. The FMCG industry...
08:58 AM, Mar 17, 2012
Madrid: It's 10.30 on a chilly winter's morning in central Madrid and retailer Emanuela Scena is opening up for business. Her shop is one of several offering second-hand goods that have sprung up in Spain's capital during the economic crisis and is packed to the rafters with clothes, books, CDs and electrical equipment. But unlike the others, it doesn't take cash. It's part of a barter economy in goods and...
05:23 PM, Feb 21, 2012
New Delhi: Industrial production grew by just 1.8 per cent year-on-year in December 2011 due to contraction in mining and capital goods sectors and a lower manufacturing sector growth. Factory output growth, as measured by the Index of Industrial Production (IIP), was at 8.1 per cent in December 2010. Output of the manufacturing sector, which constitutes over 75 per cent of the index, rose at a lower rate of 1.8...
12:01 PM, Feb 10, 2012
Washington: Some 150 websites allegedly selling counterfeit goods including shoes, purses, sunglasses and sports jerseys have been seized, authorities said on Monday, coinciding with the Cyber Monday holiday shopping day. US authorities in the past few days slapped notices on the seized websites, including www.pumaoutlets.net, www.myjerseyshop.com, www.uggbootsclearanceoutletstores.com, in a bid to thwart sales of the counterfeit goods. However, authorities say they face difficulties prosecuting the sellers of the fake goods...
10:10 AM, Nov 29, 2011
Bihar Finance Minister and BJP leader Sushil Kumar Modi will now head the Empowered Committee of state Finance Minister to push ahead India's biggest tax reforms. With his election, the UPA government is hoping to build consensus among the BJP ruled states on the implementation of Goods and services tax. ...
06:46 PM, Jul 18, 2011
New Delhi: Indicating sluggishness in the economy, industrial growth fell to 5.6 per cent in May this year from 8.5 per cent in the same month last year, mainly due to the poor performance of the manufacturing and mining sectors. Factory output in the month of April, as measured in terms of the Index of Industrial Production (IIP), has also been revised downward to 5.7 per cent from the earlier...
12:21 PM, Jul 12, 2011
The proposal which was made during the Budget invoked opposition from the medical fraternity. ...
06:38 PM, Mar 22, 2011
New Delhi: The Government on Tuesday rolled back the five per cent tax healthcare, which many called the misery tax as it made treatment more expensive. Finance Minister Pranab Mukherjee made the announcement in his reply to the debate in the Lok Sabha on Tuesday. The proposal which was put forth during the Budget invoked Opposition from the medical fraternity. Reacting on the move, Cardiac Surgeon Dr Devi P Shetty...
12:53 PM, Mar 22, 2011
New Delhi: The government on Tuesday introduced a Constitution Amendment Bill in the Lok Sabha to facilitate implementation of the Goods and Service Tax (GST), an indirect tax regime that would subsume levies like excise, service tax and sales tax. The Bill, introduced by Finance Minister Pranab Mukherjee seeks to amend the constitution with a view to confer simultaneous powers on centre and states to levy taxes on goods and...
12:31 PM, Mar 22, 2011
Capital goods industry has witnessed a dramatic slowdown in recent times due to the inability of the local manufacturers to meet the growing demand, while the Chinese equipment is relatively inexpensive and readily available. The Chinese equipment makers, much like other exporters from China, also benefit from the low interest rates and an undervalued currency to boost exports. Amidst the backdrop of the ongoing capacity expansions, the Indian power equipment...
05:20 PM, Feb 28, 2011
Mumbai: India's fast moving consumer goods industry is hoping the upcoming budget will bring in concrete measures to tame spiralling inflation and viable tax structure to ensure continued growth. The 130-billion-rupee industry, which is the fourth largest sector in the Indian economy, has been reeling under the pressure of surging input costs and subsequent impact on profit margins. "Prices of agri-commodities are on the rise. Prices have risen by 30-35...
03:32 PM, Feb 24, 2011
Jalpaiguri: An entire herd of elephants was knocked down by a speeding train in North Bengal. This is the latest incident along a railway line that has become notorious as ‘the killer track’ because of a spate of elephant deaths on this stretch. Seven elephants mowed to death by a speeding train in North Bengal. The herd of elephants was crossing from one part of the forest to another when...
12:01 AM, Sep 24, 2010
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