The government is not sitting idle over the issue of retrieving over Rs.73 trillion of Indian black money stashed in various foreign banks, the Supreme Court was told Wednesday.Additional Solicitor General Gopal Subramaniam made this assertion before ..

Minister for External Affairs Pranab Mukherjee Wednesday denied that the United Progressive Alliance (UPA) government was going slow in taking action to unearth illegal money of Indian citizens kept in secret Swiss Bank accounts.Addressing a press co ..

Despite political turmoil, mounting inflation and a nagging fuel crisis, a Nepali car dealer pipped rivals from 16 other countries to become the highest seller of commercial vehicles manufactured by Indian business group Tata in the international mar ..

HCL Technologies Ltd, a leading information technology (IT) company, Wednesday reported a 41.9 percent dip in its profit to $30.4 million (Rs.1,525.7 million) for the quarter ended March 31, 2009 as compared to $52.4 million (Rs 2,630.80 million) in  ..

Continuing the telecom growth story, India added 15.87 million telephone connections during March as compared to 13.82 million a month earlier, says the Telecom Regulatory Authority of India (TRAI).With this, the total number of telephone connections ..

After buying 31 percent of scam-tainted Satyam Computer Services, Tech Mahindra Wednesday announced an "open offer" to acquire a further 20 percent stake so that it can get a controlling stake.As per the next steps laid out by the Satyam bo ..

Unlike IBM's failed attempt to acquire Sun Microsystems, the $7.4 billion tendered by Oracle to buy the Santa Clara-based enterprises solutions firm makes good sense for all three companies. It is also gives an honourable exit and hope of a new d ..

Wipro Ltd posted a net profit of Rs.10.1 billion (Rs.1,010 crore) for the fourth quarter (January-March) of fiscal 2008-09, registering 15 percent year-on-year (YoY) growth under the Indian accounting standard.In a regulatory filing, the IT bellwethe ..

Citigroup's Indian American CEO Vikram Pandit survived an angry annual shareholder meeting as he pledged to complete efforts aimed at turning around the embattled bank and repay every dollar it owes to the US government.But Pandit, who was instal ..

Warning that the current recession could be worse than expected,the Bank of Canada Tuesday cut its overnight rate to the historic low of 0.25 percent.Announcing the cut, the central bank said, "While more aggressive monetary and fiscal policy ac ..

Internet portal Yahoo said Tuesday that it planned to cut five percent of its workforce as the company struggles with the economic downturn and the dominance of Google in internet search.Yahoo announced the job cuts as it reported quarterly income of ..

The British economy has entered deflation for the first time in almost half a century, heralding a fall in wages and freeze in pensions, a media report said Tuesday.The Retail Prices Index (RPI) measure of inflation fell to -0.4 percent in March, ind ..

The International Monetary Fund (IMF) said Tuesday that losses stemming from the US mortgage crisis may reach $4 trillion and the global financial system "remains under severe stress".The IMF said in January that it expected the deteriorati ..

Warning that significant challenges to restoring financial stability remain despite an unprecedented policy response to the global economic crisis, the International Monetary Fund (IMF) has called for "continued decisive and effective action&quo ..

The Delhi High Court Monday asked the Reserve Bank of India (RBI) to formulate guidelines for opening bank accounts for mentally ill children.Justice S. Ravinder Bhat asked the RBI to publicize the guidelines for the people to know and avail of the f ..

Two-wheeler major Hero Honda Motors Tuesday said its net profit was up 32.42 percent at about Rs.12,818 million for the year ended March 31 from Rs.9,679 million it logged the previous year.The company's net income grew 19.21 percent to Rs.125,37 ..

Low-cost carrier SpiceJet Tuesday announced 'special return fare' scheme that offers discounts by up to Rs.500 on return bookings.Tickets under the scheme are available in all sectors where SpiceJet operates and the booking can be done for tr ..

The following are the highlights of the annual monetary policy review released by the Reserve Bank of India, the country's central bank, Tuesday:* Repo rate cut by 25 basis points to 4.75 percent* Reverse repo rate cut by 25 basis points to 3.25  ..

India Inc has welcomed cuts in key rates by 25 basis points by the Reserve Bank of India Tuesday, but added it expected bigger cuts.Said Harsh Pati Singhania, president of the industry lobby Federation of Indian Chamber of Commerce and Industry (FICC ..

Computer spies have broken into the US Defence Department's costliest weapons programme ever, the $300 billion Joint Strike Fighter project, the Wall Street Journal reported Tuesday.Similar incidents have also breached the Air Force's air tra ..