TNM

Steel makers cut flat product prices to battle cheaper imports

JSW SteelIn a bid to better cope with cheaper imports, Indian steelmakers have marginally slashed prices of their flat product like hot-rolled coil (HRC).

JSW Steel slashed the prices of hot rolled coil by Rs500-750 per tonne and prices of wire rod by Rs500 per tonne from the start of April.

Without divulging details of planned price cuts, a spokesperson for Essar Steel said that the company would lower prices of some of its commodity grade flat steel products in April.

Analysts have attributed the cut in prices to the combination of rupee appreciation and declining steel prices in the international market.

FM comes up with more changes in Direct Tax Code draft bill

P ChidambaramP. Chidambaram-led finance ministry has made some more changes in the Direct Tax Code draft bill that aims to replace the country's income tax act of 1961.

In the revised DTC, the finance ministry has accepted 153 of 190 recommendations made by Yashwant Sinha-headed parliamentary standing committee on income tax.

However, the finance ministry didn't accept the standing committee's recommendation that the limit of income tax exemption should be hiked to Rs 3 lakh and the remaining tax slabs should be relaxed.

DGCA orders SpiceJet to withdraw its Re 1 discount ticket scheme

Directorate General of Civil AviationThe Directorate General of Civil Aviation (DGCA) on Tuesday ordered low-cost carrier SpiceJet to immediately withdraw its discount scheme that offered tickets at prices as low as Re 1.

Mystery of missing Malaysia plane growing

Malaysia Airlines flight 370The mystery of the missing Malaysia Flight 370 is growing, and experts believe that it will be next to impossible to find the debris of the plane once batteries of its black box run out.

The Malaysian Airlines plane has been missing since early hours of March 8, and the batteries in a plane's black box normally expire in around 30 days. As only a few days are felt in the expiry of the black box's batteries, it will likely become almost impossible for investigators to find the debris.

India’s core sector output expands 4.5% in Feb.

India’s core sector output expands 4.5% in Feb.India's core sector output in February grew to the highest level in the past five months, adding some weight to the belief that the third-largest Asian economy is gradually getting rid of sluggishness.

According to the index of industrial production (IIP), core industries' output grew 4.5 per cent in February. It was considerably up from January's growth figure of 1.6 per cent.

India's core sector includes eight industries, viz. fertilisers, electricity, cement, steel, coal, crude oil, petroleum refinery products and natural gas.

Indian economy poised to grow 5.5% this year: ADB

Indian economy poised to grow 5.5% this year: ADBThe growth of Indian economy is poised to pick up pace this year but it may take some more time for the South Asian economy to reach its peak potential growth rate, Asian Development Bank (ADB) said in its latest report.

According to ADB's fresh estimates, India's gross domestic product (GDP) will likely grow 5.5 per cent in FY2014-15. The estimated growth figure is well above India's Central Statistical Office's estimated growth rate of 4.9 per cent for the recently concluded financial year (2013-14).

Sale of carbonated soft drinks fell to lowest level since 1995

Sale of carbonated soft drinks fell to lowest level since 1995According to the latest figures released, the sales of carbonated soft drinks have fallen by three percent in 2013 to its lowest level since 1995.

Beverage Digest, an industry tracker, said that the sale fell 1.2 percent in 2012 and 1 percent in 2011 and fell at 3 per cent, which is faster rate than the previous two years. The data also showed that carbonated soft drink consumption fell to 675 eight-ounce servings per person in the U. S., compared to 701 such servings in 2012, which is lowest since 1986.

Climate change policies not to affect demand for fuel, says Exxon

Climate change policies not to affect demand for fuel, says ExxonExxon Mobil has said in a new report that polices being devised around the world to combat climate change are not likely to affect the demand for oil and gas.

Exxon released a report in response to concerns from some shareholders and environmental activists that the company's assets will be worth much less as the world moves to restrict oil consumption. The company said that it has found that the policies will not affect the consumption and the company will continue to sell the fuel it has found and will find in the future.

Caterpillar dismisses allegations of tax evasion

Caterpillar dismisses allegations of tax evasionCaterpillar is planning to tell a panel of US Senate investigation that the company did not adopt measures to evade tax and claims that it pays its fair share of taxes.

Zuckerberg to receive $1 salary in 2013

Zuckerberg to receive $1 salary in 2013Mark Zuckerberg, the young founder of Facebook, was paid $1 in salary for 2013, according to a regulatory filing with the US Securities and Exchange Commission.

The chief executive of the world's largest social networking site is the 22nd richest person in the world, according to Bloomberg Billionaires Index.  Zuckerberg had received a salary of $503,205 in 2012 but decided to follow the example set by many and took just a dollar as salary during the previous year.

Fiscal deficit breaches govt.’s estimates

Fiscal deficit breaches govt.’s estimatesThe Congress-led UPA government failed to meet its both the revised estimate and Budget estimate targets for fiscal deficit for the first 11 months of current financial year, fresh official data released by the Controller General of Accounts (CGA) revealed.

According to newly released data, the difference between the government's revenue and expenditure in the first eleven month of 2013-14 touched 114 per cent of its revised target of Rs 5.24 lakh crore.

Uncertainty continues over KLIA2 opening

Uncertainty continues over KLIA2 openingThe opening of KLIA2 airport has been delayed several times from September 2011 to the current deadline of May 2, 2014, however the uncertainty over the project continues and many doubt if the KLIA2 will be opened on time till the deadline, which is just 30 days away.

HDB's resale flats falls 1.5% during first quarter

HDB's resale flats falls 1.5% during first quarterAccording to the latest data released, Housing Board resale flat prices recorded a fall of 1.5 per cent during the first three months of the year compared to the previous quarter.

Examinership saved 400 jobs in three months, report

Examinership saved 400 jobs in three months, reportAccording to a new report released, the new examinership process had helped save as many as 400 jobs during the first three months of the year.

The Hughes Blake SME Examinership Index showed that 191 jobs were saved across a number of small and medium firms while another 219 jobs were saved at construction giant SIAC during the period. Neil Hughes, a managing partner at Hughes Blake that the firms will have to address the debt issue before benefiting from the recovery in business.

Canadian dollar rises 0.14 of a cent to 90.56

Canadian dollar rises 0.14 of a cent to 90.56According to the latest figures released, the Canadian dollar increased 0.14 cent to 90.56 to cents in the afternoon trade.

The national currency improved significantly as the country's economy recorded a strong increase during the first month of the year. Data from Statistics Canada showed that the Canadian economy grew by 0.5 per cent in January compared to 0.3 per cent predicted by economists. The growth is a significant improvement from the month of December when the there was a 0.5 per cent decline in the economy.

BHP planning to sell non-core assets

BHP planning to sell non-core assetsMining giant, BHP might be considering several strategic options to spin off its non-core business in order to create a new firm, according to people closer to the matter.

It is believed that the company is planning to create a new $20 billion resources company with its non-core businesses. A team of company officials, being advised by Goldman Sachs are evaluating various options including demerger and individual asset sales in order to create a new firm.

South African exports increases due to weak rand

South African exports increases due to weak randIt is believed that the weaker value of the rand is helping increase exports from South Africa to other nations as the country's exports become cheaper in the international markets. The total exports from the country rose 7.9 per cent to R83.9bn in February and imports fell sharply by 13.2 per cent to R82.2bn.

Apple set to hike app prices in Australia & some other countries

Apple set to hike app prices in Australia & some other countriesApple Inc is all set to start charging higher prices for apps available in its iTunes Store in Australia and a number of other countries, emerging media reports suggest.

Macrumors has published an email sent by Apple to developers declaring its decision to increase the retail prices of apps in Australia, Indonesia, Turkey, India and South Africa.

Google adds ‘view count’ feature to Google+

Google adds ‘view count’ feature to Google+Tech giant Google Inc has just added a new feature to its social networking service Google+ that shows the number of times a user's content has been viewed by others.

The new feature is thus very helpful in determining if a specific content posted on Google+ is really attracting other users or not.

Being overweight has started becoming normal

Being overweight has started becoming normalBritain's chief medical officer, Dame Sally Davies, stresses that being overweight is in risk of being "standardized".

Davies focuses to "vanity measuring", bigger shop mannequins, shoddy beverage, huge segments, store mass purchases and news stories offering photographs of the beyond husky, making the overweight feel nearly thin.




Check out More news from Telecom Sector :: Pharmaceutical Sector :: Auto Sector :: Infrastructure :: Real Estate


Syndicate content