The 15-member committee has also recommended the imposition of a goods and service tax on financial services, and creation of a currency spot market and rupee-settled exchange traded currency derivatives market.

Sources said the DGCA is reviewing tests by the US-based Federal Aviation Administration (FAA) and European Air Safety Agency (EASA) on mobile phone usage on board aircraft.

Led by an unprecedented boom in domestic consumption, the country achieved an average GDP growth of 8.6 per cent over the past three years. For 2006-07, growth is forecast at 9.2 per cent, the fastest in 18 years.

The developers have already started feeling the pinch.

A few tips and precautions.

Indian shares tumbled almost 5 per cent after the central bank raised interest rates after markets closed on Friday in its latest attempt to cool an overheating economy.

A new, Bahrain-based charter airline agreed on Monday to add Beirut as a destination, expressing confidence that their target market of top-tier entrepreneurs will still travel to Lebanon even as its economy crumbles under the ongoing political instability.Rizon Jet signed

The giant real estate company Solidere, which was founded by late Prime Minister Rafik Hariri, recorded a net profit of $132.2 million in 2006, an increase of 22 percent compared to 2005. In a brief statement issued to the press,

Prominent figures from the country's financial community convened on Monday for the official opening of a new Arab Finance House headquarters in the Mina al-Hosn area of the capital. The headquarters will serve as a local flagship for the Union

The army on Monday shot dead four United Liberation Front of Asom militants in Betgaon Kagramari village under Tangla police station of Udalguri district, northern Assam even as security forces and police mounted an operation against the group before its

Indian Naval ships, which are on an overseas deployment to Southeast and Fareast Asia, received distress call from Shipping Corporation of India Ship 'MV Maharashtra' while on transit from Singapore to Japan.

On Monday, Pune moved a step closer towards becoming the first location in India where citizens can access the Internet anywhere without cables, thanks to the rollout of WiMax technology.

Tata Motors and the Fiat Group plan to invest Rs 4,000 crore (rs 40 billion) in their new automobile plant in Ranjangaon that will generate 24,000 jobs.

Rejecting short cuts like creating small pockets with latest amenities, an official committee has recommended that to make Mumbai a truly global financial hub by 2020, the infrastructure of the entire city should be improved.

Undeterred by the controversy surrounding its acquisition of Hutch-Essar, Vodafone asserted on Monday it was fully compliant with the foreign direct investment regulations as it had 'only stepped into the shoes of Hutchison Telecom.'

Residents of Mumbai who have never faced load-shedding will have to gear themselves to contend with power cuts this summer, though not as severe as the ones in other parts of Maharashtra.

After Airtel and Hutch, cellular operator Idea, an Aditya Birla Group Company, has lowered ISD rates by 80 paise per minute.

Top financial professionals of India Inc are keen on converging to global accounting norms and want the present ones to be aligned with either the International Financial Reporting Standards or the US GAAP.

Indian conglomerate Tata Group's $12 billion takeover of Anglo-Dutch giant Corus Group Plc reached its culmination with the deal coming into effect from making Tata Steel the world's fifth largest steel firm.

Here are the 10 biggest falls in the Indian stock market history: