MUMBAI (Reuters) - Audi, the premium car brand of the Volkswagen Group , will launch seven new models in India and expand its dealers' network this year, as it looks to increase sales and market share in the luxury car segment of Asia's third-largest economy. The Volkswagen Group plans to double its component sourcing from India to 700 ...Read More

The rupee rose on Tuesday, supported by gains in the BSE Sensex and improved global risk appetite as fears of a possible debt default by Greece eased slightly, although dollar demand from oil refiners kept gains under check. Oil is India's biggest import item and consequently local oil importers are the biggest purchasers of dollars in ...Read More

Reserve Bank of India Deputy Governor Subir Gokarn said the monetary authority will cut borrowing costs once it’s confident inflation will keep slowing. “The stance now is that we have reached the peak and any further action will be toward easing,” Gokarn, 52, said in an interview at his office while discussing the rupee, the government’s budget ...Read More

State Bank of India (SBI), the country's top lender, is not worried about loans to telecom companies, whose licences have been cancelled, going bad as they may bid again, its deputy managing director Santosh Nair said. Shares of SBI fell as much as 4 percent after India's Supreme Court revoked all 122 telecom licences issued under a scandal-tainted 2008 ...Read More

It was a lackluster session on Wall Street following a handful of mixed earnings reports. Fed chairman Ben Bernanke's comments on jobs growth didn't help sentiment either. European markets ended stable, while key Asian markets opened down 0.2-0.4%, cautious ahead of US jobs data. Back home, the indices absorbed some intra day volatility to close firm. The ...Read More

With the economic environment bogged down by high inflation and overshooting fiscal deficit owing to problems of crude oil price volatility, eurozone crisis and overall global slowdown, leading economists on Wednesday suggested that the Budget for 2012-13 should be utilised as a policy instrument to restore domestic and global investor confidence and revive the India growth ...Read More

Facebook founder Mark Zuckerberg turns up at business conventions in a hoodie. "Cocky" is the word used to describe him most often, after "billionaire." He was Time's person of the year at 26. So when he takes Facebook public, why would he follow the Wall Street rules? The company is expected to file as early as Wednesday to sell stock ...Read More

New Delhi: Spanning numerous residential areas and commercial centres in the national capital and a lifeline for commuters, the Delhi Metro on Tuesday kicked off tunnelling and boring work for a 3-km underground corridor to decongest the Rajiv Chowk station -- an interchange for two of its lines -- in Phase 3 of the rail network....Read More

India's December exports rose an annual 6.7% to USD 25 billion, while imports for the month rose 19.8% to USD 37.8 billion, leaving a trade deficit of USD 12.7 billion, the government said on Wednesday. Exports between April-December rose 25.8% to USD 217.6 billion. Oil imports for the month rose 11.2% to USD 10.3 billion. Indian exporters enjoyed record growth last fiscal ...Read More

As the debate over the Antrix-Devas deal rages on, the Department of Space has written to the Prime Minister’s Office seeking the release of the reports of two high-level committees set up in 2011 to look into the alleged irregularities in the agreement. A press statement from ISRO on Tuesday said that its Chairman and Secretary, Department of Space ...Read More