Tag Archives: finance news

Australian business confidence slumps

Sydney: Australian business confidence slumped to its lowest level in more than three years in November, a business survey released Tuesday by National Australia Bank (NAB) showed. The NAB monthly survey found business confidence fell further to an index level of minus nine in November from minus one in October, indicating pessimists far outweighed optimists

Indian students lead rush for foreign MBA courses

New Delhi: India contributes the highest number of foreign applicants to full-time MBA programmes. This comes despite the dip in overall number of applications to full-time foreign B-Schools for the third consecutive year. Around 61 per cent of MBA programmes rank India as their top source of foreign talent. However, applications from Indian and Chinese students,

Pranab Mukherjee warns about currency war

Washington: Indian Finance Minister Pranab Mukherjee warned the international community of the danger of a currency war if the ongoing economic crisis deepens. Such a currency war can be avoided through dialogue and not through competitive devaluations. Mukherjee stressed at a crowded press conference of finance ministers of BRICS nations Brazil, Russia, India, China and

NRIs, resident Indians can open joint accounts

Mumbai: The Reserve Bank has allowed Non-Resident Indians (NRIs) to hold joint accounts with Indian residents. The RBI is liberalising these foreign exchange rules to help increase remittances. The central bank has also permitted sale proceeds of foreign investments in India to accrue to NRE/FCNR accounts after tax deductions, under the Foreign Exchange Management Act.

Infosys diversifying into China

Dalian: The grim economic situation in Europe has become a big concern for Infosys Ltd, India’s second-largest software services exporter. Therefore, it is dynamically diversifying into other fast-growing markets such as China, a top executive said. While the US and Europe markets are too big to ignore, Infosys, which competes bigger rival Tata Consultancy Services

Slower-than-expected growth likely: ADB

Hong Kong: Asia’s developing economies will post slower-than-expected growth this year and in 2012 as key trading partners reduce orders amid worries about the global economy, a report said. The Asian Development Bank study said the region’s economies would expand 7.5 per cent this year, down from its 7.8 per cent forecast in April, while

Amway India eyes Rs.25 billion business by 2012

Agartala: Consumer and home products direct marketing company Amway India, a wholly-owned subsidiary of the US-based Amway Corp, expects to do business worth Rs.25 billion in India by 2012, an official said here Monday. “After starting commercial operations in 1998 with a business of Rs.9.1 million, Amway has invested more than Rs.2 billion in India,”