Business

The amended Companies Bill proposes to enhance the accountability of companies.

The US-based company said it was 'very bullish' on India and would invest heavily across the value chain to expand business.

The merger would create seventh largest natural resources company of the world and a cost-saving of Rs 1,000 crore annually.

The airline wrote to the Civil Aviation Ministry after it posted a loss of Rs 298 crore in the last quarter.

India currently allows 100 pc FDI in single-brand retail, but bars foreign investment in supermarket chains.

Madrid's economy minister said a formal request would be made in days for the bailout, which was agreed two weeks ago.

The BSE Sensex fell 60.05 points to close at 16,972.51 that recouped 165 points from intraday low amid global sell-off.

Traders are on watch for any potential intervention from the RBI to defend the currency.

He said raising taxes was not the same as reducing the fiscal deficit and added it was important to look at the quality of fiscal consolidation.

Industrialist Kumar Mangalam Birla said he is confident of his cement-to-telecom conglomerate.

India allows FDI in domestic airlines up to 49 per cent but had been disallowing foreign airlines from investing in the sector.

Earlier this month, RBI had also asked the commercial banks to stop charging such penalties.

The repo rate of 8.00 per cent is the highest RBI policy rate among major economies in Asia.

The BSE benchmark rose 194.79 points or 1.17 per cent, to close at 16,862.80, supported by 25 components.

India's exports grew by 3.2 per cent in April 2012 mainly due to the slow demand in western markets.

Air India has maintained that it has enough executive pilots to operate long-haul destinations in the US and Europe.