Business News and Articles

The Supreme Court has directed the Singapore-based firm Speak Asia, accused of duping investors to the tune of Rs 1,300 crore, to deposit before it the amount payable to investors and concerned authorities. A bench of justices Dalveer Bhandari and Dipak Verma asked the mediator, appointed by it earlier, to ascertain the exact amount which is payable by Speak Asia to the investors and other authorities and directed the company to deposit the same within two weeks after th.. Full Article

In a move to further make Train Reservation Ticketing System passenger friendly, the Ministry of Railways has decided to permit Short Messaging Service (SMS) sent by its PSU, Indian Railways Catering & Tourism Corporation (IRCTC) containing vital details as an instrument on par with the Electronic Reservation Slip (ERS). This has come into effect from 1st February, 2012. Full Article

It may sound like another Rajinikanth joke, but a new website dedicated to the superstar runs 'without an internet connection'! Visitors to www.allaboutrajni.com are greeted with a warning that 'He is no ordinary man, this is no ordinary website. It runs on Rajini Power' and are advised to switch off their internet connection to enter the website. Full Article

Suresh Kalmadi on Thursday walked out of Tihar Jail after being lodged there for nearly nine months with the Delhi High Court granting bail to him in a 2010 Games-related graft case. 67-year-old Kalmadi, who was arrested on April 25 last year, left through Jail No.4 in the evening without talking to the media hours after the High Court granted him bail. Full Article

Internet company Yahoo!'s co-founder Jerry Yang has quit the company he founded 17 years ago. Yahoo! said besides quitting the board of its directors, Yang has resigned from all other positions in the company, effective from January 18, as well as from the Boards of Yahoo! Japan Corporation and Alibaba Group Holding Ltd, firms in which Yahoo! has stakes. Full Article

Faced with increasing incidents of misuse of tickets, Railways have made it mandatory for all passengers travelling in AC classes to carry an identity proof with them. So far, carrying ID proof was required only for passengers travelling with e-tickets or with tatkal tickets. Full Article

UK-based telecom major Vodafone has moved a step further to list its India operations by roping in investment bank NM Rothschild to assist the listing plans. According to sources, Vodafone India has roped in investment bank NM Rothschild to assist the company in its listing plans. Full Article

Industry body Assocham has asked the government to retain both excise duty and service tax at existing rate of 10 per cent in the Budget for 2012-13. In its pre-budget memorandum submitted to Finance Minister Pranab Mukherjee, the chamber has asked the government to consider reducing Central Sales Tax (CST) rate from 2 per cent [...] Full Article