Business News

Philip Morris beats expectations

Philip Morris beats expectationsPhilip Morris International has outperformed the expectations of the analysts with the earnings for the fourth quarter making a juvenile mark on its financial performance, sending in direct signals to those who had updated the estimates to make some corrections for the coming time.

Zee Reports 74% Rise in Third-Quarter Profits, Looking to Increase Stake in Ten Sports

Zee Reports 74% Rise in Third-Quarter Profits, Looking to Increase Stake in Ten SportsOn Tuesday, giant media company Zee Entertainment posted a 74.49% rise in its net profit for the December quarter. The company also announced that it in the process of consolidating its stake in Ten Sports at 95%.

Gokarn for fast economic recovery

The RBI is optimistic for the country to achieve its growth targets given to improving market conditions and increasing demand in the system across key economic segments. Subir Gokarn, the new deputy governor of the Reserve Bank of India (RBI) projected healthy growth for the country in the coming quarters.

However, he said that market has been improving slowly due to sluggish recovery and as a lot of challenges are still in the way, the country has to tackle for achieving broad based recovery.

Regulations Governing Foreign Investments in India to be Revised

Except for the Foreign Direct Investment (FDI), the Government is looking at revising all regulations that currently govern foreign investments into India, and has appointed a special committee to look into all its aspects and rules.

Monsoon uncertainty may hit economy’s growth

economyPoor and below normal rainfalls during the current crop season may hit country economic growth, which is already under pressure on account of low demand due to the global financial crisis. Monsoon's progress for next 10 to 15 days will be crucial for agriculture, which is mainly dependent on rainfall.

RIL criticizes Anil's outburst

Mukesh-Ambani-Anil-AmbanReliance Industries Ltd (RIL), breaking its silence over the gas supply dispute, has condemned Anil Ambani's comments against the government, saying that the comments have been made to malign the image of Reliance Natural Resources (RNRL).

SAIL plans for IPO this year to raise Rs 3,000 crore

sailSteel Authority of India Limited (SAIL), a public sector steel company, may float another Initial Public Offer (IPO) this year to generate funds worth Rs 3,000 crore. The recession-hit steel giant has witnessed a fall in steel sales given to low demand across the steel sector, due to global slowdown.