The economic downturn is unlikely to affect the Indian tourism industry but only trigger a change of travel trends and preferences in the market, according to industry experts."Now travellers lay more emphasis on the location choice as compared  ..

With maximum temperatures in Chhattisgarh hovering above 44 degrees Celsius, the state government Friday issued an order for closure of all schools in the state from April 25 instead of the scheduled date of May 1."The decision for early closure ..

Strong financials of domestic companies and robust demand in sectors like telecom, pharma and capital goods will kickstart inbound merger and acquisition (M&A) activities in India in the next six to nine months, an industry lobby report said Thur ..

The Russian government has allocated an initial $64 million to part finance a joint project with India to develop a new military transport plane, a defence industry official said Thursday.Russia and India signed an intergovernmental agreement on the  ..

HDFC Bank Thursday reported a 33.9 percent increase in its net profit to Rs.6.31 billion for the quarter ended March 31, compared to Rs.4.71 billion in the same period a year before.The total income rose 53 percent to Rs.537 billion in the period und ..

Salary cuts and job uncertainty are driving pilots in Indian carriers to greener pastures abroad, with as many as 25 pilots believed to be heading for the Gulf.Pilots from Jet Airways and Kingfisher Airlines are expected to join leading Gulf carrier  ..

Egypt has withdrawn, with effect from April 8, a temporary import fee it imposed on cotton yarn and textiles in a move that would benefit India, one of the leading producers of cotton yarn.Egypt in January 2009 imposed a fee of 25 percent on CIF valu ..

German luxury car maker Audi Thursday launched a new variant of its existing sedan Audi A6 in the Indian market.The car will be available in the market in May first week with a price tag starting from Rs.38.57 lakh (ex-showroom Mumbai)."The new  ..

Brazil received $5.34 billion in foreign direct investment (FDI) during the first quarter of 2009, down 39.2 percent from the same period in 2008, the country's central bank has said.The numbers got worse in March, when FDI totalled $1.44 billion ..

India's largest private sector company, the Mukesh Ambani-controlled Reliance Industries, Thursday reported a 1 percent drop in net profits for the quarter ended March 31 at Rs.3,874 crore (Rs.38.74 billion or $774.8 million).The turnover of the  ..

Banking services had to be curtailed in Tripura after the Election Commission appointed a large number of bank employees to conduct the Lok Sabha election Thursday, an official here said."We had to restrict some customer services since Wednesday ..

As small and medium businesses in India struggle to stay afloat during the global economic slowdown, they are opting for cheaper computing services, and a Boston-based entrepreneur is here to promote his solution, cloud computing, in which software i ..

With a financial crisis still hammering away at the global economy, the International Monetary Fund is poised for one of its biggest expansions of power since the lender was created after World War II.Leaders of the world's 20 largest economies e ..

The economic slowdown has brought pain to Hong Kong in more ways than one, with many headache victims suffering more attacks since the crisis began, a survey found Tuesday.A survey of 505 regular headache sufferers found that 71 of them had seen an i ..

Australia's economy will contract 1.4 percent this year - but almost all other developed economies will shrink more, Treasurer Wayne Swan said Thursday.He was commenting on an update from the International Monetary Fund (IMF) that forecasts an ec ..

The economic slump seems to have no impact on Apple Inc. as Cupertino-based electronic and software giant posted a quarterly profit of $1.21 billion on revenue of $8.16 billion Wednesday.Driven by higher sales of iPhones and iPods, Apple's quarte ..

India and Spain Wednesday agreed on the need to reinforce multilateral financial institutions and to increase the contributions of their member countries, Spanish government sources said. Spanish Prime Minister Jose Luis Rodriguez Zapatero and Indian ..

With the world in the grip of the most severe recession since World War II, the global economy is projected to shrink by 1.3 percent in 2009, with a slow recovery expected next year, according to the International Monetary Fund (IMF).While the rate o ..

Emerging Asia led by China and India is expected to continue to grow even as the global economy is projected to shrink by 1.3 percent in 2009 in the most severe recession since World War II, according to the IMF.China and India have also been affecte ..

Wipro chairman Azim Premji Wednesday said he was more optimistic now than a month ago about recovery in the Indian and the US markets after a huge amount of uncertainty."Overall, we are feeling more optimistic today than we would have felt even  ..