BSE Sensex rises by over 187 points in opening trade

The Sensex at the Bombay Stock Exchange rose by over 187 points in opening trade today on fresh buying by funds, taking positive cues from other Asian markets. The 30-share index, which lost 220 points in the previous session on Friday, recovered by 187 points, or 1.11 per cent, to 17,027 in morning...

Google buys Motorola Mobility for 12.5 billion dollars

Internet giant Google has announced a deal to buy Motorola Mobility for 12.5 billion dollars. A joint statement said the boards of both companies had unanimously approved the deal which should be completed by the end of this year or early next year. Earlier this year, Motorola split into two separat...

IGL increases price of CNG

Indraprastha Gas Ltd, IGL, has increased the price of Compressed Natural Gas, CNG, in Delhi, Noida, Greater Noida and Ghaziabad by 20 paise per kilogram. The CNG will now cost 30 rupees per kg in Delhi and 33.60 rupees per kg in Noida, Greater Noida and Ghaziabad. The new price came into effect midn...

European stock market gains consolidation

European shares Monday consolidated gains made on Friday after debt fears in the eurozone and the US caused turmoil on global markets last week. Paris's Cac and Frankfurt's Dax indexes were up 1 per cent in early afternoon trading, while London's FTSE 100 climbed 0.5 per c...

40th anniversary of collapse of Bretton Woods currency regulation system

Today marks the 40th anniversary of the collapse of the Bretton Woods currency regulation system set up after the Second World War. The system fixed the value of the dollar against the value of gold. In 1971, the United States left the system due to domestic problems with high inflation. The moves s...

Japan's economy contracts less than expected

Japan's economy contracted less than expected in the last quarter, showing stronger signs of recovery from the deadly tsunami. The economy shrank by an annualised rate of 1.3 per cent in the three months to the end of June. Cabinet Office said, it shrank 0.3 per cent from the previous quart...

Govt raises export Price of Onion by 45 dollar per tonne

The government has raised the export price of onion by 45 dollar per tonne to 275 dollar a tonne in order check prices which have doubled in the last one month in the retail market.In a notification, the Directorate General of Foreign Trade (DGFT) said, the Minimum Export Price of two superior varie...

No more Tax-Free zones: Finance Minister

Finance Minister says, there will be no more Tax-Free zones in the country. Talking to news persons in Siliguri today Pranab Mukherjee said that instead of tax free zone, the Centre is considering creating special economic zones in backward districts. He said Tax-free zone status in Himachal Pradesh...

India, ASEAN pitch for early conclusion of FTA

Refunds pull down tax collection by 8%

Hefty refunds pulled down net direct tax collections by 8.14 per cent to 78,679 crore rupees during the April-July period of this fiscal. Net direct tax collections stood at 85,647 crore rupees in the year-ago period. The latest data released shows that Tax refunds rose a robust 183.18 per cent duri...