Thursday,11th-March-2010,10:28:PM
Business News
Thursday, 11 March 2010 09:37   
Base lending rate to take effect from July 1


MORE TRANSPARENT: Deepak Mohanty, Executive Director of Reserve Bank of India, addressing a meeting at Reserve Bank Staff College in Chennai on Wednesday

CHENNAI: The base lending rates for banks will take effect on July 1 as a better and more transparent successor to the benchmark prime lending rates, the Reserve Bank of India Executive Director Deepak Mohanty said on Wednesday.

Addressing a function organised by the Reserve Bank Staff College as part of the RBI's platinum jubilee celebrations, Mr. Mohanty said the central bank had issued draft guidelines and held discussions with bankers on base rate norms.

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Thursday, 11 March 2010 09:36   
China's exports grow at 46 % in February


STEAMING AHEAD: A truck runs at Yangshan deep-water port in Shanghai, China. China's exports rise in February is a new sign of growing global demand.

BEIJING: China's exports grew by 46 per cent in February, its biggest rise in three years, signalling a revival in global demand following months of steep declines as a result of the financial crisis.

China's exports, down by 16 per cent last year on account of falling demand from the West, have now grown for three straight months, the country's General Administration of Customs (GAC) said on Wednesday. While exports were up 46 per cent to $ 94.5 billion, imports also rose by 45 per cent, driven by rising oil demand on account of the government's continued stimulus spending on infrastructure projects.

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Wednesday, 10 March 2010 09:14   
Sony introduces 3D TV in India

Tags: Sony 3D TV


NEXT BIG TREND:Masaru Tamagawa (left), Managing Director of Sony India, and a model

NEW DELHI: Sony on Tuesday introduced 3D TV in India, which would prove to be the next big trend in the evolution of multimedia entertainment. Based on new LED technology, the new range of TVs is also compatible with Internet and the company has exclusive tie-ups with some of the content providers like ‘Youtube' to provide videos and clips.

“Indian consumers today have become all the more technology savvy and with the launch of new technologies like 3D, Internet TV and LED, we want to ensure that they get nothing but the best,” said Sony India Managing Director Masaru Tamagawa. The company also announced the launch of new models under the popular Bravia brand, priced between Rs. 45,900 and Rs. 3.50-lakh.

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Wednesday, 10 March 2010 09:12   
Ford launches Figo

Tags: Ford Figo


FOCUS ON SMALL CARS: Ford India President and MD Michael Boneham (left) and Ford Motor Company President (Asia Pacific and Africa)

NEW DELHI: Ford, keen on making a foothold in the fast-growing small car market in India, on Tuesday officially launched its compact car Figo in petrol and diesel variants, with entry level models priced at Rs.3.50-lakh and Rs.4.48-lakh, respectively.

The U.S.-based carmaker also announced plans to introduce one new car every year across various segments to consolidate its position in the Indian car market.

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Wednesday, 10 March 2010 09:11   
Industrialists pledge to invest in Assam


LOOKING NORTHEAST: Assam Chief Minister Tarun Gogoi (second from left) welcomes Tata Sons Chairman Ratan Tata and other advisory members

GUWAHATI: Impressed by the emergence of a ‘new Assam,' top industry captains on Tuesday pledged their commitment towards industrial and overall development of State at the first meeting of the Assam Investment Advisory Board held at the Secretariat here.

“All of us run successful business in other parts of India. But I must say that there are tremendous opportunities in Assam too, and that the potential of the State has not received attention for a long time. A new Assam is here. We are drawn by the opportunities and challenges here. We are here by choice, said Tata Sons Chairman Ratan Tata while addressing a joint press conference with Assam Chief Minister Tarun Gogoi and other industry bigwigs after the two-hour long meeting, which they attended as the board members.

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