Fin Min to reopen suspect assessees' IT returns upto 16 years

Government plans to allow reopening of income tax returns of past 16 years of suspected assessees, as against 6 years at present. The move is aimed at strengthening the mechanism to investigate black money cases.A Finance Ministry official said in New Delhi that extending the period of reopening ret...

European Commission nod for Microsoft bid for Skype

The European Commission has approved plans by American technology giant Microsoft to buy internet voice and video service Skype. The Commission however said that the 8.5 billion dollar deal would not significantly impede effective competition across the European market as there were numerous players...

Credit rating downgrade for Italy & Spain

An international agency has downgraded the sovereign credit ratings of Italy and Spain, putting new pressure on two of Euro's biggest economies. They have been relegated from AA minus to A plus by the credit ratings agency Fitch. But both countries still have ratings far above from what is ...

FM expresses concern over 9.41% food inflation raise

Finance Minister Pranab Mukherjee has expressed concern over rising prices of vegetables, fruits and milk. Talking to media persons in New Delhi today, Mr. Mukherjee said that rise in inflation is definitely a matter of concern and measures will be taken to bring it down to moderate level. Reacting ...

Indian Rail earnings up by 10.4 % in first half of fiscal

The total earnings of Indian Railways rose by 10.40 percent during the first six month of this fiscal as compared to the same period last year. According to an official release, the earnings of Railways during the month of April to September this year were about 48947 crore rupess as compared to nea...

Sensex surges 440 pts, closes above 16k

The Sensex at the Bombay Stock Exchange surged 440 points, or 2.8 % to close above 16,000-level, at 16233, today. The rise in Sensex is following Europe's efforts to shore up its financial system and prevent another global banking crisis and amid rising global markets. The Nifty at the Nati...

Sensex surges 440 pts, closes above 16k

The Sensex at the Bombay Stock Exchange surged 440 points, or 2.8 % to close above 16,000-level, at 16233, today. The rise in Sensex is following Europe's efforts to shore up its financial system and prevent another global banking crisis and amid rising global markets. The Nifty at the Nati...

The credit worthiness of nine Portuguese Banks has been downgraded by the Ratings Agency Moody's. The Agency has expressed concern about the safety of loans the banks have made to the Portuguese Government. Moody's has also downgraded the credit ratings of several British Banks. Th...

Sensex up 451 pts in afternoon trade

The Sensex at the Bombay Stock Exchange, that surged 481 points to regain the 16,000 mark in opening trade, was trading 451 points up at 16,243 in afternoon deals. All the sectoral indices were trading in the positive zone, with gains of up to 4.39 per cent on heavy buying by foreign funds. The Sens...

Food inflation rises to 9.41%

Food inflation rose to 9.41 per cent for the week ended September 24 on the back of costlier vegetables, fruits, milk and protein-based items. Food inflation, as measured by Wholesale Price Index, had stood at 9.13 per cent in the previous week. According to the Ministry of Commerce data released to...