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Essar Oil has announced on Wednesday that it has recorded a net profit of Rs 320 million during the third quarter of the current financial year.

Indian automaker, Tata Motors has said on Tuesday that its sales during the month of December fell 13.9 percent to 98,968 vehicles.

The lower-than-expected sales were recorded even as the company's Jaguar Land Rover said that its sales has risen 4.2 percent to 32,282 vehicles in the global markets. The company's cumulative wholesales rose 1.8 per cent to 881,009 during 2012 compared to the previous year.

Experts and industry observers have said that the recently government decision to delay the implementation of the general anti-avoidance rule (GAAR) to April 2016 is welcome step for the investors.

The union government delayed the implementation of the controversial new rules on the basis of the recommendations of the Shome Committee, which was formed to extensive consultations with the stakeholders and presenting a framework for the implementation of the rules. The government ahs wholly accepted the re commendations of the Committee.

The International Monetary Fund (IMF) has warned against grating bank licenses to the industrial houses in India.

The global financial body wrote in its new update on financial stability in India that the industrial houses must be permitted to own banks. Renowned economist Joseph Stiglitz had recently suggested against granting such licenses to industrial owners during his visit to the country.

Washington, Jan 16 : US retail sales rose in December by more than analyst

London, Jan 16 : AC Milan has joined the long list of clubs interested in signing Real Madrid manager Jose Mourinho and the Italian giants are already plotting to hijack former Chelsea boss' move back to Premier League.

The seven-times European champions are keen for the Special One to return to the San Siro and repeat his heroic spell with local rivals Inter Milan, the Sun reports.

Mourinho, expected to leave Real Madrid this summer, could be tempted especially as the odds are mounting against him making an emotional return to English football at the end of the season, the paper reports.