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Britain tightens immigration norms

It’s being called the biggest overhaul in the British Immigration System. From Friday, the first stage of the new points based system came into force. Depending on the type of worker you are, your entry to the UK will be determined under five tiers.
Source: Moneycontrol Top Headlines | 1 Mar 2008 | 3:00 pm

ICICI Bank opens first branch in US!

ICICI Bank, India`s largest private sector BNK, has opened its first branch in the United States at posh midtown New York.
Source: Zee News : Business | 1 Mar 2008 | 11:35 am

Canada for closer economic ties with India!

Seeking to increase its commercial presence in Indian markets, Canada has stepped up efforts to expand economic cooperation with India, a senior official has said.
Source: Zee News : Business | 1 Mar 2008 | 11:35 am

ICICI CEO expects no Indian rate cuts!

The chief executive of ICICI Bank Ltd, India`s biggest private-sector bank, said on Friday he did not expect the country`s central bank to ease interest rates soon.
Source: Zee News : Business | 1 Mar 2008 | 11:35 am

Ask.com not planning to scrap search: Source!

Online search site Ask.com is not getting rid of its specialized search technology, a source familiar with the matter said on Friday, saying a blog report to that effect was incorrect.
Source: Zee News : Business | 1 Mar 2008 | 11:35 am

Judge delays decision on Enron Funds !

Enron Corp. shareholders and investors hoping to get their cut of more than USD 7.2 billion recovered as part of a lawsuit they filed in connection with the company`s collapse are going to have to wait a little longer.
Source: Zee News : Business | 1 Mar 2008 | 11:35 am

Taxes may go up from 2009/10: Infosys!

India`s Infosys Technologies sees taxes going up to 22 percent in the fiscal year 2009/10 from about 15 percent now, if a 10-year tax holiday ends in March 2009, its chief financial officer said on Friday.
Source: Zee News : Business | 1 Mar 2008 | 11:35 am

Budget proposes tax rebate for parents' health insurance

Individuals paying for the medical health insurance of their parents would be eligible for increased tax rebate, according to a proposal in Budget 2008-09.
Source: Daily News & Analysis: Money News | 1 Mar 2008 | 11:32 am

UK toughens immigration law

Britain has introduced a new pointsbased system for migrants. Depending on the type of worker you are, your entry to the UK will be determined under 5 tiers. Tier1 is for the highly skilled who are allowed to enter without a confirmed job offer, reports CNBCTV18.
Source: Moneycontrol Top Headlines | 1 Mar 2008 | 11:13 am

Swaminathan hopes budget marks 'end of farmer suicides'

Eminent farm scientist M.S. Swaminathan has called the 2008-09 budget 'forward looking' and hoped that the Rs.600 billion loan waiver would 'mark the beginning of the end of the era of farmer suicides'.
Source: IndiaeNews.com: Business News | 1 Mar 2008 | 10:32 am

Courier company fined for poor service

A courier company has been fined Rs.150,000 for poor service after it lost a package containing share certificates of a consumer in Kerala.
Source: IndiaeNews.com: Business News | 1 Mar 2008 | 10:32 am

Pay Commission report may reverse credit rating: S and amp;P

Global credit rating agency Standard and Poor's Ratings Services (S and amp;P) warned Saturday that India's credit rating, currently at BBB-/Stable/A-3, may be revised lower after the Sixth Pay Commission's report.
Source: IndiaeNews.com: Business News | 1 Mar 2008 | 10:32 am

Honda's natural gas car named as Greenest Vehicle of 2008 - Economic Times


Honda's natural gas car named as Greenest Vehicle of 2008
Economic Times - 1 hour ago
WASHINGTON: Honda's Civic GX natural gas car has been named by the American Council for an Energy-Efficient Economy as the greenest vehicle of 2008 for the fifth consecutive year.
Detroit is losing the clean tech race BloggingStocks
all 6 news articles

Source: Google News India - Business | 1 Mar 2008 | 10:13 am

Senior citizens need not lean for financial support - Economic Times


India Infoline.com

Senior citizens need not lean for financial support
Economic Times - 1 hour ago
Senior citizens, who have a home of their own or a property in their name, may not need to lean on their kids for financial support in their old age.
Reverse mortgage relief for seniors Times of India
LIC Housing to offer reverse mortgage loans Sify
India Infoline.com - Livemint
all 11 news articles

Source: Google News India - Business | 1 Mar 2008 | 10:08 am

Consumer Spending Stalls - Washington Post


Washington Post

Consumer Spending Stalls
Washington Post - 1 hour ago
Julian Andino, left, Chrisellda Arellano examine computers at Best Buy Wednesday, Feb. 27, 2008, in Atwater Village section of Los Angeles.

Source: Google News India - Business | 1 Mar 2008 | 9:56 am

Union Budget 2008-09: Jury - Sify


Hindu Business Line

Union Budget 2008-09: Jury
Sify - 1 hour ago
Changes in attitude have helped. Above all, information systems and technology have helped most. And, if I may add in a lighter vein, having a lucky finance minister may have also helped!
Home is where the farm is : Mukesh Ambani Economic Times
Reduction in Cenvat, an anti-inflationary measure Hindu
NDTV.com - Times of India - Hindu Business Line - MSN India
all 11 news articles

Source: Google News India - Business | 1 Mar 2008 | 9:52 am

General Motors India Feb sales up 80 - Economic Times


General Motors India Feb sales up 80
Economic Times - 1 hour ago
1 Mar, 2008, 1501 hrs IST, PTI NEW DELHI: Car maker General Motors India on Saturday reported 80 per cent increase in its vehicle sales during February at 5563 units as against 3087 units the same month last year.

Source: Google News India - Business | 1 Mar 2008 | 9:49 am

Dow drops over 300pts, Infosys down 5% - Business Standard


Dow drops over 300pts, Infosys down 5%
Business Standard - 1 hour ago
Negative economic and financial reports soured the mood on Wall Street yesterday as banks and other lenders tightened credit to contain damage from losses on mortgages, business loans and related debt.
Stocks Dive on New Signs of Economic Chill New York Times
Stocks Fall Sharply on Economic Worries The Associated Press
Bangkok Post - Xinhua - MarketWatch - Hemscott
all 48 news articles

Source: Google News India - Business | 1 Mar 2008 | 9:47 am

Maruti Feb local sales flat, GM sales up 80% - Business Standard


Maruti Feb local sales flat, GM sales up 80%
Business Standard - 1 hour ago
Maruti Suzuki (MSIL), India's largest car maker, registered a marginal (0.4%) rise in domestic sales in February at 59311 units when compared with 59095 units sold in February 2007.
Maruti sales in February 2008 Moneycontrol.com
Maruti Suzuki Feb vehicle sales up 1.3 pct Reuters India
Reuters - Sify - Economic Times
all 13 news articles

Source: Google News India - Business | 1 Mar 2008 | 9:47 am

Markets gain despite Friday's drop on account of budget - Hindustan Times


Thaindian.com

Markets gain despite Friday's drop on account of budget
Hindustan Times - 1 hour ago
Indian equities market ended the last week of February on a firm note even though the national budget unveiled on Friday disappointed several investors and led to an intra-day fall of 1.4 per cent for a key index.
Short term cap gains tax spooks traders; Sensex down 400 pts Economic Times
Sensex down over 245 points on tax concerns Hindu
Deepika - The Statesman - Livemint - Khaleej Times
all 71 news articles

Source: Google News India - Business | 1 Mar 2008 | 9:45 am

Markets gain despite Friday's drop on account of budget

Indian equities market ended the last week of February on a firm note even though the national budget unveiled Friday disappointed several investors and led to an intra-day fall of 1.4 percent for a key index.
Source: IndiaeNews.com: Business News | 1 Mar 2008 | 9:01 am

Mukesh Ambani's Reliance to sponsor more sports events

The Mukesh Ambani-owned Reliance company will venture into more sports-related activities, possibly sponsoring the 2011 cricket World Cup to be co-hosted by India, after investing well over $117 million in the lucrative Indian Premier League (IPL).
Source: IndiaeNews.com: Business News | 1 Mar 2008 | 9:00 am

Ramco Systems to invest Rs 90 cr in Chennai centre

Ramco Systems will invest around Rs 90 crore in a new software development centre in the heart of the city, reports Business Line. The centre (in 22 grounds) will be ready in the next 1824 months and can accommodate around 2,000 employees, Mr P.R. Venketrama Raja, Vice Chairman, Ramco, said.
Source: Moneycontrol Top Headlines | 1 Mar 2008 | 8:47 am

IT companies put new campus recruits on bench

Leading IT companies that went on a campus hiring spree in 2007 are now left holding the baby. Sources in the recruitment industry told Business Line that all leading IT services companies have now delayed deployment of campus hires on projects by a ‘few months.’
Source: Moneycontrol Top Headlines | 1 Mar 2008 | 8:42 am

Virgin Group to launch new biz in ‘communications’

This weekend, the UKbased Virgin Group is launching a new business venture that the group’s Chairman Sir Richard Branson believes “will make a big difference to Indians”, reports Business Line.
Source: Moneycontrol Top Headlines | 1 Mar 2008 | 8:14 am

Credit growth in Bangladesh pvt sector rises 50 pct

DHAKA (Reuters) - Credit growth in Bangladesh's private sector, rose 50 percent to 115.51 billion taka ($1.68 billion) during the first five months of the current fiscal year, driven by growing demand from import and agriculture businesses.

Source: Reuters: Business News | 1 Mar 2008 | 7:40 am

Pakistan raises fuel prices after 22 months

KARACHI (Reuters) - Pakistan raised fuel prices by up to 10.70 percent on Saturday, the first rise in 22 months, the government said.

Source: Reuters: Business News | 1 Mar 2008 | 7:39 am

Farmers happy but cautious over budget bonanza

Finance Minister P. Chidambaram's budget bonanza for millions of farmers hit by debts has been hailed nationally but many in the farm sector have their fingers crossed: will the sops really come their way?
Source: IndiaeNews.com: Business News | 1 Mar 2008 | 7:30 am

Budget inclusive and balanced one: CII

The Confederation of Indian Industry (CII) Puducherry, has described the union budget as 'an inclusive and balanced' one.
Source: Daily News & Analysis: Money News | 1 Mar 2008 | 7:05 am

'Inclusive growth' is survival imperative for Indian economy

Early commentary on India's national budget for 2008-09 has focused almost entirely on a single parameter: the aggregate level of economic growth. Missing in all the punditry has been a serious effort to engage with the sources of growth in the Indian economy.
Source: IndiaeNews.com: Business News | 1 Mar 2008 | 6:00 am

Cascading effect of DDT not fully addressed - Sify


India Infoline.com

Cascading effect of DDT not fully addressed
Sify - 5 hours ago
A long-standing justified demand for taxation structures being business-friendly has finally been acknowledged by the finance minister.
Holding cos will bloom, minus DDT spray Economic Times
DDT, STT: Marginal reprieve Hindu Business Line
Moneycontrol.com - Financial Express - Press Information Bureau (press release) - Daily News & Analysis
all 19 news articles

Source: Google News India - Business | 1 Mar 2008 | 5:58 am

Budget inclusive and balanced one: CII - Hindu


Budget inclusive and balanced one: CII
Hindu - 5 hours ago
Puducherry (PTI): The Confederation of Indian Industry (CII) Puducherry, has described the union budget as `an inclusive and balanced` one.

Source: Google News India - Business | 1 Mar 2008 | 5:56 am

Maruti Suzuki Feb vehicle sales up 1.3 pct

MUMBAI (Reuters) - India's biggest car maker, Maruti Suzuki India Ltd said on Saturday it sold 63,822 vehicles in February, up 1.3 percent from 62,999 units last year.

Source: Reuters: Business News | 1 Mar 2008 | 5:44 am

Gulf NRIs make a beeline for Lucknow realty

Saeed Anwar, an NRI from Dubai, wanted a house in his hometown Lucknow. He bought two plots for Rs.3.5 million ($880,000) in 2005, which are together worth Rs.30 million today. With returns as high as this, many Gulf NRIs are investing in the city's real estate.
Source: IndiaeNews.com: Business News | 1 Mar 2008 | 3:30 am

ICICI CEO expects no Indian rate cuts soon

NEW YORK (Reuters) - The chief executive of ICICI Bank Ltd, India's biggest private-sector bank, said on Friday he did not expect the country's central bank to ease interest rates soon.

Source: Reuters: Business News | 1 Mar 2008 | 3:09 am

Winning the rupee battle both ways

This is positive from the perspective of maintaining India's credit rating at "investment grade" and attracting more foreign capital.
Source: Daily News & Analysis: Money News | 1 Mar 2008 | 1:17 am

What do firms need now?

Elections take place in India every year. Therefore, every Budget of every finance minister in any year can be described as an election Budget.
Source: Daily News & Analysis: Money News | 1 Mar 2008 | 12:11 am

Hitting the road to 'service economy'

Where the domestic software consumers are concerned; the service tax cost may be a passthrough as users can neutralise by availing input credit.
Source: Daily News & Analysis: Money News | 1 Mar 2008 | 12:11 am

Doing a fine balancing act

The overall impact of the Union Budget will be positive on the economy. The issues raised in the Economic Survey have been well addressed.
Source: Daily News & Analysis: Money News | 1 Mar 2008 | 12:07 am

Stock markets not impressed

The air of excitement that typically surrounds Budget days on the bourses was missing this time. The signals from overseas were far from comforting on Friday morning. Continued onslaught of negative data on the US economy and the crude prices ...
Source: Business Line - Home Page | 1 Mar 2008 | 12:00 am

Excise on small cars, 2-wheelers slashed

The domestic auto industry got a major boost with the Finance Minister, Mr P. Chidambaram, announcing a 4 percentage point reduction in excise duty on two-wheelers, three-wheelers, passenger cars, buses and chassis to 12 per cent from the ...
Source: Business Line - Home Page | 1 Mar 2008 | 12:00 am

‘Off-budget’ bonds beginning to exact toll

New Delhi, Feb. 29 Large-scale issuances of special bonds may have helped the Centre meet its fiscal and revenue deficit targets in the narrow technical sense and that too in the short run. But the fact is that these ‘off-budget’ ...
Source: Business Line - Home Page | 1 Mar 2008 | 12:00 am

Duty cut on six life-saving, bulk drugs

Tax holiday extended for new hospitals
Source: Business Line - Home Page | 1 Mar 2008 | 12:00 am

Rs 60,000-crore debt waiver for farmers; relief for income-tax payers

"If you are against the one-time writeoff of debts of the small and marginal farmers, then have the courage to stand up and be counted. You cannot duck the issue and I'm not ducking the issue." -- Finance Minister P. Chidambaram
Source: Business Line - Home Page | 1 Mar 2008 | 12:00 am

Govt plans to inject liquidity into banking system

Making good the loan waiver to farmers
Source: Business Line - Home Page | 1 Mar 2008 | 12:00 am

Middle-class bowled over

People from the poorer strata of society have never shown any serious interest in Budgets much less in their nuances, though indirect tax proposals do impinge as much on their fortunes as they impinge on the fortunes of the well-heeled. ...
Source: Business Line - Home Page | 1 Mar 2008 | 12:00 am

Hyundai, Maruti, GM to cut prices


Source: Business Line - Home Page | 1 Mar 2008 | 12:00 am

IT companies put new campus recruits on bench

Turn choosy and may raise assessment norms
Source: Business Line - Home Page | 1 Mar 2008 | 12:00 am

‘Commodity transaction tax to hit price discovery’

The Budget for the year 2008-09 is a mixed bag. It is a populist and pragmatic one, conducive to growth. The Finance Minister is clearly focusing on balanced growth while addressing primary concerns of the slowdown in GDP and inflation, ...
Source: Business Line - Home Page | 1 Mar 2008 | 12:00 am

Cascading effect of DDT not fully addressed

A long-standing justified demand for taxation structures being business-friendly has finally been acknowledged by the finance minister.
Source: Daily News & Analysis: Money News | 29 Feb 2008 | 11:13 pm

The smart-card dichotomy

The move to do away with ad valorem taxes on petrol and diesel and replacing them with specific duties with no current impact on retail prices is good.
Source: Daily News & Analysis: Money News | 29 Feb 2008 | 11:08 pm

One for the Hindu Undivided Family

The greatest thing about India is the joint family system. The elders are always there to look after the younger members. The strong are always there to help the weak.
Source: Daily News & Analysis: Money News | 29 Feb 2008 | 11:08 pm

Now showing: Dalal Street decoupling from North Block, and then some...

The bullock-run unleashed by the FM's Rs60,000-crore loan waiver for farmers did not go down well with the bulls in the market.
Source: Daily News & Analysis: Money News | 29 Feb 2008 | 11:08 pm

PC budgets for early elections

Rs 60k-crore farm loan waiver, I-T exemption limit raised. ??
Source: Business Standard | Front Page Headlines | 29 Feb 2008 | 7:48 pm

`I`m not back to where I started`

Though the finance minister has budgeted for a 2.5 per cent fiscal deficit for 2008-09, many believe he'll overshoot this, given the loan waiver, impending Sixth Pay Commission awards and off-budget
Source: Business Standard | Front Page Headlines | 29 Feb 2008 | 7:44 pm

But no votes from the markets

The budget received lukewarm response from the markets after the government proposed higher taxes on stock market transactions and increased the short-term capital gains tax sharply from 10 to 15 per
Source: Business Standard | Front Page Headlines | 29 Feb 2008 | 6:55 pm

Fertiliser industry unimpressed over budget proposals

Though the union budget has announced a number of initiatives favouring farmers, including the loan waiver of Rs.600 billion ($15 billion), the fertiliser industry, one of the links in the agriculture chain, has remained unimpressed over budget proposals.
Source: IndiaeNews.com: Business News | 29 Feb 2008 | 6:31 pm

India, US agree on time-bound steps to expand high-tech trade

Despite uncertainty over the nuclear deal, India and the US Friday agreed on 'a series of time-bound actions' that will bring the level of their high technology trade in tune with their growing strategic partnership.
Source: IndiaeNews.com: Business News | 29 Feb 2008 | 6:31 pm

BUDGET - $475 mln allocated for stakes in RBI units

NEW DELHI (Reuters) - The Indian government has allocated 19 billion rupees ($475 million) to buy the central bank's stake in two subsidiaries in 2008/09, Friday's budget showed.

Source: Reuters: Business News | 29 Feb 2008 | 6:17 pm

BUDGET - India extends tax holiday for hospitals, cuts duty

MUMBAI (Reuters) - India on Friday cut excise duty on goods produced in the drug sector and extended a five-year tax holiday to hospitals set up any where in India, except in certain urban areas, boosting shares of healthcare and drug firms.

Source: Reuters: Business News | 29 Feb 2008 | 5:59 pm

India's defence budget rises, but problems remain

NEW DELHI (Reuters) - India raised its defence spending on Friday by 10 percent to $26.5 billion for 2008/09, but experts said a slow bureaucratic process could delay modernisation of the world's fourth largest military.

Source: Reuters: Business News | 29 Feb 2008 | 5:14 pm

India direct taxes to grow 20 pct in FY09 - Chidambaram

NEW DELHI (Reuters) - India expects income tax receipts to grow by 16.9 percent at 1.38 trillion rupees in 2008/09, despite increased exemption limits for individuals, the finance ministry said on Friday.

Source: Reuters: Business News | 29 Feb 2008 | 3:44 pm

Maruti Suzuki lowers car prices after tax cut

MUMBAI (Reuters) - India's top car maker Maruti Suzuki Ltd said on Friday it had cut prices of some models following a government proposal to trim tax on small cars.

Source: Reuters: Business News | 29 Feb 2008 | 2:09 pm

Budget focuses on farms, gears up for vote

NEW DELHI (Reuters) - India's government promised higher spending for ailing farms and funds for rural revival in its budget on Friday, but it stuck to fiscal goals and pledged to keep inflation under control ahead of elections due in 2009.

Source: Reuters: Business News | 29 Feb 2008 | 1:19 pm
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