NEW DELHI (Reuters) - India's telecoms regulator said on Thursday it would phase out levies paid by telecoms firms to a state-owned operator, raising hopes that tariffs could fall further and triggering a rally in sector stocks.
NEW DELHI (Reuters) - Economies in the Asia-Pacific region will moderate in 2008 due to a slowdown in the United States and the credit crunch, but expansion in the region's developing nations would still be robust, a U.N. panel said.
MUMBAI (Reuters) - The rupee firmed on Thursday, boosted by foreign fund flows into the local stock market, but suspected central bank intervention capped the currency's rise, dealers said.
Reliance Money, a financial products distribution firm, said it has got approval for setting up a branch and offering investment advice in Oman. Source: Daily News & Analysis: Money News | 27 Mar 2008 | 12:05 pm
Reliance Industries and BG Group of the UK have refused to sign contracts for allocating natural gas produced from Panna/Mukta and Tapti fields to GAIL. Source: Daily News & Analysis: Money News | 27 Mar 2008 | 11:56 am
NEW DELHI (Reuters) - Indian shares fell 0.4 percent on Thursday, hurt by renewed concerns about the U.S. economy, while Tata Motors dropped 3.6 percent after its $2.3 billion purchase of Jaguar and Land Rover.
In a bid to allow landlocked northeastern states access to a seaport in Myanmar, the Indian cabinet Thursday approved a road and waterway project in that country. Source: IndiaeNews.com: Business News | 27 Mar 2008 | 11:32 am
The Maharashtra government Thursday signed a memorandum of understanding (MoU) with Bharat Forge Ltd (BFL) to set up a centre for advanced manufacturing at Baramati. Source: IndiaeNews.com: Business News | 27 Mar 2008 | 11:31 am
As the current financial year draws to a close, Indian stock markets Thursday remained subdued with the key market index, Sensex, closing in the red, in tune with mixed global cues. Source: IndiaeNews.com: Business News | 27 Mar 2008 | 11:30 am
The Bombay Stock Exchange benchmark Sensex ended lower by 71 points at close on Thursday on profit selling by funds in heavyweight stocks led by Tata Motors. Source: Daily News & Analysis: Money News | 27 Mar 2008 | 11:24 am
Zhejiang Longsheng Group Company Ltd (Lonsen) of China, which has entered into a joint venture with city based Kiri Dyes and Chemicals Limited (KDCL) with an investment of $10 million for dyestuff manufacturing, could step up its investment to about $35 million, a KDCL official said. Source: IndiaeNews.com: Business News | 27 Mar 2008 | 11:02 am
The eight Indian Premier League (IPL) franchise owners will have to pay any entertainment tax the government may levy on the cash-rich Twenty20 cricket tournament starting next month. Source: IndiaeNews.com: Business News | 27 Mar 2008 | 11:02 am
India Thursday gave its approval to German auto major Daimler to invest Rs.16.50 billion ($415 million) in a joint venture with the Hero Group to make commercial vehicles. Source: IndiaeNews.com: Business News | 27 Mar 2008 | 11:02 am
'Filmmaking, to begin with, is actually story-telling. It also deals with human behaviour. The world's most famous movies told simple stories in the most simple way. If a scriptwriter keeps these three things in mind, he will come close to writing a very good screenplay,' feels a famous Hollywood screenwriter. Source: IndiaeNews.com: Business News | 27 Mar 2008 | 11:01 am
BANGKOK (Reuters) - Tata Motors Ltd said on Thursday it was confident its $2.3 billion deal to buy Jaguar and Land Rover from Ford would improve its balance sheet in the long term.
Ford's decision to sell its iconic brands Jaguar and Land Rover to Indian conglomerate Tata has failed to enthuse the stocks of the US car maker Source: Daily News & Analysis: Money News | 27 Mar 2008 | 10:01 am
Ashok Leyland, India's second largest commercial vehicle maker, has raised $200 million from international markets for investments both in the domestic market and overseas, a top company official has said. Source: IndiaeNews.com: Business News | 27 Mar 2008 | 9:01 am
Bigflicks.com, an online video-on-demand (VoD) and video rental business unit of the Reliance Anil Dhirubhai Ambani Group, is planning to invest $100 million by 2011 to expand its business both in India and overseas. Source: IndiaeNews.com: Business News | 27 Mar 2008 | 9:01 am
Ram Mohan, the doyen of the Indian animation industry, has received a Special Recognition Award from the British High Commission at the Ficci Best Animated Frames (BAF) Awards 2008. Source: IndiaeNews.com: Business News | 27 Mar 2008 | 9:00 am
MUMBAI (Reuters) - India's gold demand was dull on Thursday though prices eased slightly after touching one-week highs amid a softer dollar and firm crude oil that raised the metal's appeal as a hedge against inflation.
MUMBAI (Reuters) - "Jaguar is now an Indian beast" roared one Indian newspaper on Thursday as it lauded Tata Motors' long-awaited $2.3 billion deal to bag the sleek British car brand and its chunkier Land Rover counterpart.
NEW DELHI (Reuters) - The cabinet on Thursday approved a 100 billion rupee ($2.49 billion) fund that will be used to partly finance a massive scheme to write off debt owed by millions of small farmers, a government spokesman said on Thursday.
Analysts are posing this question given the implications of the future emission norms in Europe. But Tata Motors are confident of addressing the challenge. Source: Daily News & Analysis: Money News | 27 Mar 2008 | 7:53 am
NEW DELHI (Reuters) - India's economy could grow 8.5-9.5 percent over the medium term but price pressures may persist due to high global oil and food prices, a United Nations panel said in a report released on Thursday.
Over 1.6 million employees working in the estimated 240 central public sector undertakings (PSUs) are likely to receive a 50 to 60 per cent salary increase, possibly with retrospective effect from Source: Business Standard | Front Page Headlines | 26 Mar 2008 | 6:39 pm
Religare Enterprises, a Ranbaxy-promoted group company, is looking at buying yet another London-based broking firm, for around Rs 700 crore. ?? Source: Business Standard | Front Page Headlines | 26 Mar 2008 | 6:37 pm
Tata Motors has bought Jaguar and Land Rover for USD 2.3 billion. Ratan Tata, Chairman, Tata Group said that he is very pleased with JLR being a significant part of the auto business. Earlier, Tony Woodley, Joint General Secretary of Unitethe Union of JLRhad said that if Jaguar Land Rover had to be sold, then Tata was the best option. Source: Moneycontrol Top Headlines | 26 Mar 2008 | 5:50 pm
IDBI has reduced prime lending rate by 50 bps to 12.75% from April 1, reports CNBCTV18 quoting Newswire 18. Source: Moneycontrol Top Headlines | 26 Mar 2008 | 5:27 pm
Tata Motors globalisation drive will get a boost with this deal. Jaguar and Land Rover are present together in close to 230 countries. Future generation of Tata\'s Safariwhich was touted as the desi Pajero and its utility vehicle range, will get a major tech boost with access to Land Rover\'s research and development (RD) division. Source: Moneycontrol Top Headlines | 26 Mar 2008 | 4:10 pm
KS Oils has purchased 50,000 acres of palm plantation in Indonesia, reports CNBCTV18. Sanjay Agarwal of KS Oils said the company plans to invest Rs 230 crore over the next three years. Source: Moneycontrol Top Headlines | 26 Mar 2008 | 3:48 pm
ISec has brought a report on Emami stating fair value at Rs 315, which is nearly a 50% increase from the current market price. Speaking to CNBCTV18, Aditya Agarwal, Director at Emami Group said that as far as FMCG is concerned, the company are looking for a growth of around 30% YoY in its sales. Source: Moneycontrol Top Headlines | 26 Mar 2008 | 3:37 pm
In the shortterm, Tata Motors may make a special purpose vehicle (SPV) to fund JLR acquisition, like they have done with TataCorus. They could raise a bridge loan, go ahead raising longterm debt and taking the equity dilution, said CNBCTV18 Analyst Raja Rajeshwari. Source: Moneycontrol Top Headlines | 26 Mar 2008 | 3:35 pm
Asian Auto Analyst, Ashvin Chotai feels that it is a tough challenge for Tata to turn around Jaguar. He feels that the deal is not huge in size, but the event is symbolic, given that the power will shift from the \'West\' to the \' East.\' Source: Moneycontrol Top Headlines | 26 Mar 2008 | 3:20 pm
There has been a lot of reports about rentals and residential property prices cooling off significantly on a panIndia basis. But Pradeep Jain of Parsvnath Developers doesn\'t think prices have been cooling off in north India, though. He said there is no fall in the prices as such, except in the few areas like in the extension part of the Gurgaon. Source: Moneycontrol Top Headlines | 26 Mar 2008 | 2:35 pm
Hichens Harrison has confirmed talks with Religare for a possible cash offer. Sunil Godhwani, MD CEO of Religare said they have made an offer at 285 pence per share for the company. According to him, the company is an excellent matching synergy with the institutional side of their business Source: Moneycontrol Top Headlines | 26 Mar 2008 | 2:33 pm
Rajeev Piramal, Peninsula Land feels that commercial residential real estates have been priced to optimum. Sanjay Dutt, Joint MD of Cushman Wakefield observes that prices in Pune are still seeing appreciation. Rajiv Sabharwal, Senior General Manager of ICICI Bank informed that his Banks loan growth in value has dropped. Source: Moneycontrol Top Headlines | 26 Mar 2008 | 12:54 pm
