Markets continue to gain for the second straight session on anticipation that RBI may slash the key policy rate in the upcoming monetary policy review on June 2, 2015. Further, timely monsoon forecast and slowdown in foreign funds outflows has lifted the trading sentiments.

Meanwhile, foreign institutional investors sold shares worth a net 38 crore rupees on Friday as compared to a selling of Rs 74 crore rupees on Thursday.

SHANGHAI: To help Indian and Chinese corporates in cross-border businesses, top private sector lender ICICI Bank opened its first branch in China, which was inaugurated by Prime Minister Narendra Modi.

Based in Shanghai, China's biggest city and a major global financial hub, the new branch would begin with 17 banking professionals handling different functions including corporate banking, operations, finance and treasury.

As India pressed China to open its markets for Indian IT firms, technology major Infosys today announced establishing its first overseas centre outside India in China with an investment of about $120 million to tap in the burgeoning Chinese market.

An MOU in this regard was signed between Infosys and the local Chinese provincial government at the India-China Business Forum, which was addressed by Prime Minister Narendra Modi in Shanghai today.

After launching its cognitive intelligence platform ‘Holmes’, Wipro, India’s third largest IT services company is now using this in-house innovation to automate internal functions such as helpdesk management and recruitment using what it terms as 'soft robot’ or ‘genie’. The aim is to improve efficiency by optimizing the resource utilization and reduce the costs, said K R Sanjiv, chief technology officer of the Bengaluru-based company.

All these innovations are being driven out of Wipro’s Technovation Center located at the company’s sprawling campus in Electronic City which has around 300 researchers from diverse backgrounds, including more than 30 PhDs in different specialisations.

Google is reportedly providing a buy button on its search page for the products searched on it in next few weeks. However, if the feature is in a bid for Google to become an online marketplace hasn’t been disclosed yet.

The search engine will display buy buttons only on mobile devices only when users search for products. Buy buttons will be part of sponsored (paid) search results within a “Shop on Google” page. Buttons will not appear on non-sponsored results generated from Google’s basic search algorithm.

Taiwanese government has ordered Alibaba group’s online marketplace Taobao to withdraw from the island within six months for violating investment rules required for a Chinese company to operate in Taiwan.

The breach in rules by Alibaba has resulted in a fine of $7,860 by Taiwanese investment commission and has been asked to withdraw or transfer its holdings from its operation in Taiwan within next six months, as reported by Reuters.

With new insider trading norms coming into force on Friday, a host of companies, including Bajaj Auto, HDFC Bank, HDFC and YES Bank, have framed their codes of conduct to regulate and report stock trades by promoters, top executives, their relatives and connected persons.

Besides, Aurobindo Pharma, Axis Bank, BEML, Jubilant Life Sciences, Ashok Leyland, Tata Communi-cations, JK Lakshmi Cement and Hindustan Motors have formulated their respective Codes of Conduct, according to exchange data.

The three oil marketing companies — Indian Oil (IOC), Bharat Petroleum and Hindustan Petroleum — announced a Rs 3.13-a-litre increase in the retail price of petrol and Rs 2.71-a-litre rise in diesel prices with effect from Friday midnight to align the de-regulated domestic prices with the international rates.

After the changes in retail prices, non-branded petrol will be charged at Rs 66.29 a litre in Delhi, while diesel will cost Rs 52.28 a litre. The prices were last revised on May 1, when petrol prices were increased by Rs 3.96 a litre and diesel prices were hiked by Rs 2.37 a litre.

Coal India is set to invest a whopping $20-25 billion (over Rs 1.27 lakh crore) over the next 5 years to achieve its billion tonnes target by 2020, double of what it produces now. This level of domestic production will also put an end to import of thermal coal to India, coal and power minister Piyush Goyal said.

"The 1 billion tonnes target would entail investment of anything between $20-25 billion. This would be invested over the next five years as we touch the production target. This would go in technologies, in equipment, in upgrading facilities and opening new mines," Goyal said while inaugurating the new headquarters of Coal India near Kolkata.

NEW DELHI: Suzuki Motor Corporation, parent of the country's largest carmaker Maruti Suzuki, plans to push ahead with its contentious plan to set up a wholly owned manufacturing plant in Gujarat as amendments to the Companies Act have made it easier to get share holder approval.

The Rajya Sabha on Wednesday cleared 16 amendments to the Companies Act, 2013, that included replacing 'special resolution' with 'ordinary resolution' for approval of related-party transactions by minority shareholders in a company.

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