India Business News

Mon, 12 May 2008
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Disaster averted at Jaipur airport

A jet blast of a JetLite flight damaged the windshield of an aircraft of Kingfisher Airlines at Jaipur's Sanganer airport, an official said Monday.

Sat, 10 May 2008
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Xenitis forecasts Rs.13 bn turnover for 2008-09

Kolkata-based Xenitis Group, which rocked the market in 2005 with its desktop computers Aamchi PC and Apna PC, has projected a turnover of Rs.13 billion for 2008-09. It now plans to enter the mobile handset market also.

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Market hit by rising crude price, inflation

The Indian equities market plunged by more than 800 points this week due to rising crude oil prices and inflation, dampening the sentiments of investors. All the five trading session of the week ended in negative.

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Software company in Rs.800 mn scam: ex-students

A case of cheating has been registered Saturday against Shiv Kumar, the promoter of software company Vispro, for allegedly cheating software professionals to the tune of Rs.800 million ($20 million), the police said.

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Coal shortage to worsen power outages in Madhya Pradesh

The gap of over 1,200 MW between demand and supply of power in Madhya Pradesh is set to widen with its three thermal power stations facing severe shortage of coal.

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Quresh community to hold rally in Delhi

The All-India Jamiatul Quresh (AIJQ), a Muslim community mainly engaged in the dairy, meat and leather industry, will organise a nationwide rally here Sunday to address problems faced by its members.

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Congress alleges foul play in proposed titanium sponge plant

The Congress in Kerala has levelled corruption charges against the Left Front government over a proposed titanium sponge plant, the contract for which is reportedly being given to Russia-based Rosoboron Exporters.

Mon, 12 May 2008
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Hyatt Corp, Lanco group sign accord on Hyatt Hyderabad

Global Hyatt Corp Monday entered into an agreement with Lanco Hills Technology Park Ltd, part of the Lanco Group, for the management of the 400-room Grand Hyatt Hyderabad.

Tue, 13 May 2008
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No flying from old Bangalore airport, says BIAL

The Bangalore International Airport Ltd (BIAL), the developer of Bangalore's new greenfield airport, has told the central government that it is not feasible to operate the new airport if the existing one remains functional.

Mon, 12 May 2008
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Renault-Nissan, Bajaj form JV for small cars

India's Bajaj Auto Ltd will set up a join venture (JV) with the Renault-Nissan alliance to produce and market small cars - but priced higher than Tata Nano, the companies announced Monday.

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RCom signs JV deal with Alcatel-Lucent

Reliance Communications Ltd (RCom), part of the Anil Dhirubhai Ambani Group (ADAG), has entered into a joint venture with global telecom infrastructure provider Alcatel-Lucent to offer managed network services (MNS) to telecom service providers in the domestic domain.

Sun, 11 May 2008
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Three more arrested in software company scam

Three more people have been arrests here for their involvement in an alleged Rs.800 million ($20 million) fraud by a software firm Vispro following the complaint of a former student, the Tanmil Nadu poluice announced Sunday.

Tue, 13 May 2008
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Bahrain Air announces exciting introductory fares

Bahrain Air's maiden flight from Kerala will take off from Cochin International Airport to Bahrain May 26.

Mon, 12 May 2008
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Slowdown in industrial growth rings alarm bells

India's industrial production growth continued its downward slump since September causing concern to industry even though government was optimistic that it would not adversely impact GDP growth which could still touch 8-8.5 percent this year.

Sun, 11 May 2008
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Indian manufacturing sector growth declined in 2007-08

India's manufacturing sector witnessed a decline between April 2007 and March 2008, says a survey conducted by a leading industry chamber.