Income Tax looks into black money

Mumbai: The Income Tax department is looking at 782 Indian accounts in HSBC Geneva for suspected black money. A probe into some of the Indian account holders

Fuel prices to rise soon

New Delhi: It has just been less than two months since the government raised the fuel prices, the State-owned oil companies are pressing for a Rs 1.82 per litre increase in petrol prices. Oil company officials say this is because of rupee depreciation and hardening of crude oil prices. The price hike may occur sometime in this fortnight itself. “From today, there are some losses on petrol. To cover them, we may have to increase prices,” HPCL Director (Finance) B Mukherjee told reporters. He said that crude oil is hovering at around USD 108 per barrel in international markets, while the rupee has depreciated from Rs 46.50 a dollar three months ago to over Rs 49 per dollar now, increasing the cost of oil imports. Mukherjee said the loss on petrol is currently Rs 1.50 per litre and after including local levies, the desired increase in retail prices is Rs 1.82 per litre.”We are in discussion with other oil companies on raising prices. Let’s say, we are toying with the idea,” he said, refusing to say when the country’s fuel prices would be raised. Public sector oil firms had in September raised petrol prices by Rs 5 per litre

Inflation will ease soon: Pranab Mukherjee

New Delhi: Finance Minister Pranab Mukherjee said inflation will start easing soon as the government’s efforts to remove supply-side bottlenecks have started yielding

Maruti to open new plant in Gujarat

New Delhi: Maruti Suzuki, India’s top carmaker, posted a wider-than-expected 60 per cent fall in its quarterly profit, hit by a labour unrest and rising interest rates and

Virginia to be IBM CEO

New York: Virginia M Rometty will be IBM’s new CEO, the directors announced today. She is Currently a senior vice president at IBM and will succeed Samuel J. Palmisano, 60, who will remain as chairman, at the start of next year. She has led strategically important divisions of the company as it has shifted to services

RBI hikes interest rates,SB account interest rate deregulated

Mumbai: The Reserve Bank of India hiked its interest rates by 0.25 percentage point today. Repo rate, the rate at which the RBI lends money (or infuses liquidity) to banks will now stand at 8.50 per cent. Consequent to the change in the repo rate, the reverse repo rate (the rate at which the RBI borrows from banks or absorbs liquidity)

14 day Maruthi Suzuki strike called off

New Delhi: The 14-day-long strike at Maruti Suzuki India’s Manesar’s plant has been called off this morning. The management, workers and the Haryana

Indian Tablet Aakash for 2999/- !

New Delhi: You can buy a tablet for 2999 rupees now. India’s going to go on a gala shopping spree. Aakash, India’s much hyped ultra-low-cost tablet is finally here.The baby is a result of collaboration

Anil Ambani Group stocks hit record low

Mumbai: Even as Central Bureau of Investigation told the Supreme Court that it was investigating into the alleged involvement of Mr Ambani in the 2G scam, the companies stocks hit its record low.

C Rangarajan defends RBI monetary decision

New Delhi: Prime Minister’s Economic Advisory Council chairman C. Rangarajan defended the Defending the Reserve Bank’s decision to hike key rates by 25 basis points. “The RBI has taken the correct decision. In the context