Business

BANGALORE: Infosys Technologies Ltd, India’s No 2 software services exporter, lagged market estimates with a surprise 2.6 per cent drop in quarterly profit as the European debt crisis and salary increases took shine off improving US demand.

NEW DELHI: The Prime Minister’s Economic Advisory Council chairman, Dr C Rangarajan on Tuesday said that people above the poverty line can also be considered for the UPA’s pet food security scheme under which subsidised foodgrains will be available at ration shops as a legal right.

MUMBAI: Recouping losses suffered due to a fall in Infosys profit, the BSE benchmark Sensex today rose by 49 points to end the day at two-and-a-half-year high level.

NEW DELHI: Industrial growth slipped to 11.5 per cent in May, from 16.52 per cent in the previous month, though the output recorded a double-digit growth for the eighth month in a row driven mainly by a robust performance of the manufacturing sector.

MUMBAI: The Reserve Bank is likely to soon announce a sunset clause with a deadline of June 30, 2011 for all loans in the erstwhile benchmark prime lending rate (BPLR) system to migrate to the new base-rate model.

NEW DELHI: Concerned over dilution of its role in dealing with inter-regulatory disputes, RBI Governor, Dr D Subbarao on Monday asked the government to re-look the Ordinance it had issued last month to end the IRDA-SEBI turf war over control of ULIPs.

MUMBAI: TUI InfoTec GmbH, a joint venture between Sonata Software Ltd and European travel major TUI Travel PLC, has signed an agreement with SAP Germany AG and Company in the area of subscription-based hosting.

MUMBAI: ETP International will sell and implement Lawson M3 Enterprise Management System to fashion manufacturing and distribution companies in India, Sri Lanka and Bangladesh.  ETP will support this expansion through increased investments in sales, marketing, consulting and support operations in Mumbai, New Delhi,