India probes BMW over taxes: report
NEW DELHI – Indian authorities are probing whether the local arm of German automaker BMW AG may owe an extra $120 million in taxes on auto-part imports since March 2011, a report said Wednesday.
Dow Jones Newswires, quoting a source [...]
India approves IKEA plan to open stores: officials
NEW DELHI – The Indian government on Thursday approved a plan worth almost $2-billion by Swedish furniture giant IKEA to open stores in India for the first time, officials said.
IKEA’s plan to invest in India was approved in a [...]
Textile factories reopen after Bangladesh disaster
DHAKA – Bangladesh’s textile industry reopened for business on Thursday following an eight-day shutdown triggered by the collapse of a factory compound that killed at least 429 people, an industry body said.
Millions of staff [...]
Profits at India’s Bharti Airtel sink further
NEW DELHI – India’s top telecoms company Bharti Airtel said Thursday its net quarterly profit halved in its final financial quarter to March, hit by fierce competition and punishing interest charges.
Consolidated net profit for [...]
Fast fashion, fair wages: Vietnam’s lesson for Bangladesh
HANOI - From factory fires to slave labour, the growth of mass manufacturing in Southeast Asia has not been problem-free, but after shedding its “sweatshop” reputation the region could have lessons for Bangladesh.
Last week’s [...]
India’s Wipro shares slump 11% on weak forecast
MUMBAI – Shares of Wipro, India’s third-largest software firm, slumped as much as 11 percent intraday on Monday after it projected weak revenue growth last week owing to global uncertainty.
The Bangalore-based firm’s shares [...]
India’s RCom in ‘advanced’ talks to sell Globalcom stake
NEW DELHI – India’s third-biggest mobile firm RCom said Saturday it was in “advanced” talks to sell a stake in its network infrastructure unit to private equity funds as it seeks to pay down debt.
Reliance Communications [...]
India’s Wipro Q4 profit up 17%, gives weak outlook
BANGALORE, India – India’s third-largest software firm Wipro on Friday said net profit in January-March rose nearly 17 percent, beating forecasts, but projected weak revenue growth due to global uncertainty.
Consolidated net profit [...]
India’s court allows reopening of iron ore mines
NEW DELHI – India’s top court on Thursday allowed more than 100 iron ore mines to resume operations in southern Karnataka in a major relief for resource-hungry steel mills that require the raw material.
The court accepted the [...]
Indian exports decline despite weak currency
NEW DELHI – India’s exports contracted in the financial year which has just ended, despite a sharp decline in the value of the rupee and efforts to turn the country into a manufacturing hub, data showed Thursday.
Exports in the [...]
