Making a passionate plea to the US and Indian businesses to work together for a prosperous society, Finance Minister P Chidambaram asked businesses of both the countries not to bring their business on the political table.   Delivering the key note address at the 38th annual Leadership Summit of the US India Business Council (USIBC), Chidambaram said here yesterday that India, facing the challenge of elevating its large population from poverty, is building its economy brick by brick.   The Finance Minister said as a result of India's economic reforms, a number of Indian companies have grown in size and stature and at times tend to compete with the US companies. &nbs

  India Bridal Fashion Week (IBFW) is all set to make its maiden international journey by hosting its next edition in London.   The fashion extravaganza organised by Aamby Valley, which opened its first edition in Delhi this year after running successfully for three years in Mumbai, will take its exuberant Indian bridal collection to the UK capital.   "We are happy to inform you that from 2014 onwards, IBFW will also happen in London along with its Mumbai and Delhi editions. I feel that Indian fashion will find its good value in the London market," said Vijay Singh, MD of Fashion One International.   This fashion week will be its first kind to trav

Mumbai: IT major Infosys on Friday reported nearly 4 per cent increase in consolidated net profit to Rs 2,374 crore for the first quarter ended June 30, 2013. The Bangalore-based firm had reported a net profit of Rs 2,289 crore in the year-ago period, it said in a BSE filing.   Consolidated revenue for the reported quarter was up 17.2 per cent to Rs 11,267 crore from Rs 9,616 crore in the year-ago period.   Reacting to the results, shares of the firm on Friday opened upwards by 13.21 per cent at Rs 2,862.35 apiece from their previous close on the BSE. While, India's second largest software services exporter kept its US Dollar revenue guidance unchanged at 6-10 per cen

The Maharashtra government's much publicized scheme of selling vegetables at subsidized prices has turned out to be a disappointment.

Eleven stores were launched across Mumbai on Tuesday. But with limited stock and very few stores, most Mumbaikars are forced to continue buying from expensive vegetables from the regular stores.

The stores open only in the afternoon, making it inconvenient for most Mumbaikars. But the demand for cheap vegetables means that the stores run out of stock in two hours. And for those who can make it to the stores in time have to face long queues.

Krishna Juvekar, the manager of Apna Bazaar in Andheri told NDTV, "

UBS India, the domestic franchise of Swiss banking major UBS Group which last month surrendered its banking licence, has started laying off around 50 people, who are affected by the decision.

When asked, a UBS spokesman said: “Around 50 redundancies (confined to the employees of the bank branch) are envisaged between now and the end of the second quarter of 2015.”

On the severance package being offered to the employees who are to lose jobs, the spokesman told PTI today that “the group considers such information confidential.”

Whether the bank is offering the affected employees any redeployment options within the group&rsquo

Stock in Reliance Communications (RCom) jumped more than 6 per cent in early trade on Monday, a day after the company announced that its board of directors had approved the plan to de-merge its real estate business.   RCom said yesterday that it would spin off its real estate assets into a separately listed unit, which would be called Reliance Properties Ltd (RPL), in a bid to unlock value.   RCom President & CEO Gurdeep Singh said, "The deal is part of RCom's effort to get out of non-core business, reduce debt and concentrate on telecom business within the country."   The de-merger of the assets is expected to enhance value for the company's

Accra, July 8 : The International Energy Agency (IEA) says sub-Saharan Africa needs $300 billion in investments to achieve universal access to electricity by 2030.   This was announced by Africa Finance Corporation (AFC) President and CEO Andrew Alli at a ceremony to declare the AFC's commitment to be part of US President Barrack Obama's initiative to finance power projects across Africa.   AFC and the Standard Chartered Bank are jointly providing $9 billion as partners in the US president's Power Africa Initiative to support investment in the power sector across six countries on the continent over the next five years.   AFC is providing $7 billion, whi

Supermarket giant Wal-Mart's first retail outlet in India will likely not open before around mid of 2016 because the Bentonville, Arkansas-based retailer reportedly needs more time to apply for retail store licence as it is reconsidering the conditions.   When India opened its retail sector to foreign investors in September last year, Wal-Mart had announced that it would open its first retail store in India within two years.   But, two sources familiar with developments at the retail giant has revealed that the company would not apply for its first licence before March 2015.   Wal-Mart has already announced that it would need a further 12-18 months after gettin

The Madhu Kapur family has questioned the appointment of three directors -- Diwan Arun Nanda, M R Srinivasan and Ravish Chopra -- on the YES Bank board on grounds that they do not meet the fit and proper guidelines of the Reserve Bank of India (RBI).

In rejoinders and draft amendment to their petition filed with the Bombay High Court today, the Kapur family has said "defendant numbers 7 (Nanda) and 9 (Srinivasan) do not meet the fit and proper requirement of age criteria of 35 to 65 years, as prescribed by the RBI circulars being relied upon...Both defendant numbers 7 and 9 as per the AGM (annual general meeting) notice are 69 years old." Business Standard has review

To select the right packers and movers from Bangalore to Hyderabad, you will have to schedule your plans based on those packers and movers from Bangalore to Hyderabad. Here are some points that can help you in choosing your movers and packers from Bangalore to Hyderabad:    Since Hyderabad is your destination, you will have to find out all the particulars related to the packers and movers from Bangalore to Hyderabad. This is highly important because only when you filter packers & movers from Bangalore to Hyderabad out of the lot, you will get a clear picture about the rates, service standards and the reputation of companies operating in that particular route. Packers and mo

  The Jaguar F TYPE will be available in two variants. The F Type V8S powered by a 5 litre petrol engine will be priced at Rs. 1.61 crore (ex-showroom Mumbai), while the F TYPE S with a V6 3-litre petrol engine will be available for Rs. 1.37 crore (ex-showroom Mumbai).

"The launch of F TYPE is significant for Jaguar as we are looking at a lot of premeditated spin-off benefits, primarily because of the exclusive nature of the product. It will enhance the appeal of the Jaguar brand in India," Jaguar Land Rover India vice president Rohit Suri.

Stating that the sports car market in India is very small, he said JLR is not looking for volumes.

In a latest incidence of environmental damage, a gas pipeline has spilled 25,000 gallons of gasoline near a small town on Montana's Crow Indian Reservation.

Federal officials have said that the leakage in the Phillips 66 pipeline is not likely to pose any health problems to the general public. A representative from the Houston-based oil refinery and chemical company claimed that the amount of gas leaked was much less than reported in the media. However, the company did not offer its own estimates of a leakage.

The initial estimates were released following a company report to the government's National Response Center. Officilas from the federal government

According to the latest data released, the total permanent job placements in the UK have risen at its fastest pace in two years in June as the British economy showed signs of recovery.

The data also showed that the temporary placements rose significantly and vacancies reached in highest level in three years. The index that measures job appointments rose its fastest rate since April 2011 at 57.6, according to a survey by the Recruitment and Employment Confederation (REC) and consultancy KPMG.

A rating of above 50 indicates growth in the jobs market compared to the month earlier. The jobs market in the UK has not declined as much as the economy in recent years bec

According to the latest data available, the housing rent arrears in Scotland rose to £2 million during the month of April following changes to housing benefits.

Most of the local authorities in Scotland with its own housing assets recorded a rise in arrears, showed a survey by council umbrella body Cosla. The survey was conducted about 100 days after reforms relating to the under-occupancy charges were introduced to the housing benefits. The under-occupancy charges was imposed from April 1 as a part of the
British government's welfare programme.

Following the charges, the welfare claimants with an extra bedroom saw their benefits cut by 14per ce

UK's leading high street retailer, Marks & Spencer is expected to record a fall of 1.5 per cent in clothing sales during 13 weeks till June compared to a fall of 4.1 per cent during the same period of the previous year indicating that the sales are beginning to stabilise.

Chief executive Marc Bolland has been trying to turnaround the company and is under pressure to show that his plan for the company is working as the decline slows and company's food business rise in the UK. Bolland has constituted a new team including former Debenhams boss Belinda Earl to help turn around the company and come out with a strong autumn/winter range, which has already won strong r

The National Association of Software and Service Companies (Nasscom) today announced that R Chandrashekhar, former Secretary – Telecom, Government of India will succeed current president Som Mittal to head the industry association’s executive body.

Mittal's, who has been at the helm of Nasscom for the last six years, tenure comes to an end on January 3, 2014.

"Nasscom is an outstanding organization and I have had the pleasure of engaging with Nasscom in my diverse roles with the government. I am honored to be leading Nasscom and I look forward to work with Som, the Executive Council and other stakeholders to build on the excellent work done

South Korea-based electronics company LG Electronics, which today launched Optimus G Pro mobile device at Rs 42,500 in India, aims to double the market share in the smartphone segment to 10 per cent by 2014- end.

“We have been reshaping our mobile phone business for the past one-and-a-half years. At present, our market share is close to five per cent in the country, which we target to increase to 10 per cent by the end of next year,” said LG India managing director Soon Kwon.

Over the next one year, LG plans to launch 30 more handsets across price points. Optimus G Pro is the highest priced mobile device from LG in India so far. To push sales, Kwon s

Don Mattrick, the head of Microsoft  Xbox business who will replace Zynga founder Mark Pincus as chief executive next week, will get a hefty, largely stock-based compensation package of about $50 million in coming years, the company said in a regulatory filing on Wednesday. In his first year, Mattrick will receive a base salary of $1 million, a sign-on cash bonus of $5 million and a 2013 bonus of $2 million, or the average bonus of Zynga's other executives, the company said.

To compensate for shares he lost in leaving Microsoft, Mattrick will receive a make-whole grant of $25 million, or about 9 million restricted stock units that will vest over the next three years

Shah Rukh Khan, who has been blessed with a third child through surrogacy, has said that the much-publicised issue was a "personal and confidential" matter for him. "It is a personal and confidential matter...it is a mix of happiness and sadness. I request the authorities concerned to continue to enthusiastically investigate about my baby," he told reporters at the music launch of his upcoming film Chennai Express.

Earlier in the day, civic officials confirmed having received birth report of Shah Rukh and Gauri Khan's baby boy, born with the help of a surrogate mother. As per the report, the baby was born on May 27 at the Masrani Hospital for Women in

Social networking sites like Facebook should offer a feature which makes it easier to delete a couple's joint content following a break up, researchers say.   Experts believe this could enable people to deal with the break up more effectively.   Social networking sites should enable couples who split up to erase the evidence of their relationship more easily, researchers say.   They suggest automatic software to gather all the digital evidence of the relationship following a break up.   Dr Corina Sas from Lancaster University and Professor Steve Whittaker of the University of California at Santa Cruz interviewed 24 young people about how they handled t