05 August, 2013

Financial Technologies rallies 45% ahead of Jignesh Shah's news briefing

Financial TechnologiesBSE 23.87 % Ltd bounced back over 40 per cent ahead of a news briefing by Chairman and CEO Jignesh Shah scheduled for 1200 India time (0630 GMT).

However, by 11:30 a.m.; Financial Technologies pared some gains, and was trading 27 per cent higher at Rs 188.50.

The stock rallied as much as 45 per cent in intraday trade from its Friday's closing price of Rs 147.50 on the National Stock Exchange.

Railways, IIT-Madras tie up to power AC coaches with solar energy

Soon, solar power will be used to cool air conditioned train coaches. The Integral Coach Factory has kicked off a project in association with IIT Madras to design coaches that will draw power from the sun for interior lighting and cooling.

This is the first time the railways is attempting to tap solar power. Being the world's biggest railway system, it plans to use innovative technology to tap alternative sources of energy to reduce dependence on fossil fuel and the power grid. The railways sees a huge demand for air conditioned coaches in the coming years. And this demand could lead to increased spending on diesel to power the coaches. In other countries, too, it is rare to use solar power on trains.

Jet Airways offers 7 lakh tickets at low prices for a week

Airlines are cutting fares like never before to fill up planes in the ongoing lean travel season which will last till early October.

On Saturday, Jet Airways put on sale a whopping 7 lakh domestic travel seats with fares starting at Rs 1,777. The sale will last till next Friday and will be for travel from the day after. Jet is offering fares in three slabs — Rs 1,777 for short slabs; Rs 2,777 for medium and Rs 3,777 for long domestic sectors.

US economy recovering from worst downturn: White House

The US economy is recovering from the worst downturn, the White House said today as the latest figures indicated that the unemployment rate has dropped to 7.4 per cent, the lowest level since December 2008.

"While more work remains to be done, today's employment report provides further confirmation that the US economy is continuing to recover from the worst downturn since the Great Depression," Alan B Krueger, chairman of the council of economic advisers to US President Barack Obama said.

"It is critical that we remain focused on pursuing policies to speed job creation and expand the middle class, as we continue to dig our way out of the deep hole that was caused by the severe recession that began in December 2007,"

Jadeja first Indian after Kumble to top ODI bowlers' list

Left-arm spinner Ravindra Jadeja on Sunday became the first Indian bowler to top the bowlers' chart in the latest ICC ODI Player Rankings after former captain Anil Kumble claimed the pole position way back in 1996.

South Africa win T20 series against Sri Lanka

South Africa defeated Sri Lanka by 22 runs in the second Twenty20 international in wind-swept Hambantota on Sunday to take an unassailable 2-0 lead in the three-match series