Briefly Business: Services sector activity decline in March: HSBC PMI

India’s services sector witnessed a significant decline in the month of March amid slower rise in new business orders and a dip in business sentiment

Written by Agencies | Published:April 5, 2012 1:14 am

Services sector activity decline in March: HSBC PMI

New Delhi: India’s services sector witnessed a significant decline in the month of March amid slower rise in new business orders and a dip in business sentiment,a survey by HSBC said. According to the HSBC Purchasing Managers Index (PMI) data ,the seasonally-adjusted HSBC Services Business Activity Index,posted 52.3 in March,down from 56.5 in February. In January,it stood at 58.

Piramal Realty to own HUL’s ‘Gulita’ for R452.5 cr

Mumbai: FMCG major Hindustan Unilever (HUL) on Wednesday said it will sell its sea-facing property located at suburban Worli to Piramal Realty for Rs 452.5 crore

HUDCO cuts lending rates by 0.5 per cent

New Delhi: Housing and Urban Development Corporation (HUDCO) has said lending rates have been reduced by 0.5 per cent with effect from April 1.

Build cotton reserves of 2.5 mn bales: Govt to CCI

New Delhi: The Centre has said it has asked Cotton Corporation of India (CCI) to build up reserves of 2.5 million bales of cotton this season to ensure smooth supply of the raw-material to the cash-starved textiles mills.

Deposits grew by 13.4% to R61 lakh cr in 2011-12

Mumbai: Deposits with banks grew at 13.4 per cent to Rs 60.72 lakh crore in the last fiscal year-on-year,as per the latest data released by the RBI. The deposits with banks was Rs 60,72,460.40 crore as on March 23,2012,while it was Rs 53,55,159.8 crore on March 25,2011.

Yahoo to lay off 2,000 employees

New York: Struggling Internet company Yahoo Inc today said it will lay off 2,000 employees as part of a savings plan,a move that would save $375 million in a year for the company.

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