VA Joseph GM of the South Indian Bank told CNBC TV 18 that the total business in the financial year 2009 is expected to grow to Rs 30,500 crores; the deposit growth is expected to be 24% and the advances to be 29.6% Source: Moneycontrol Top Headlines | 3 Apr 2008 | 2:29 pm
RIL will start work on its fabrication foundry in the next 810 months, reports CNBCTV18, quoting sources. It will float an SPV for semiconductor foray. RIL is looking at acquiring fabrication units in Korea and Taiwan, sources add. Source: Moneycontrol Top Headlines | 3 Apr 2008 | 2:22 pm
The Steel Ministry has said they will be meeting steel producers today to discuss measures to curb a price hike. The possible quota of steel supply for small and medium companies will also be discussed. The Ministry added that steel producers will be asked to sign long term contracts or MoUs with buyers. Source: Moneycontrol Top Headlines | 3 Apr 2008 | 11:00 am
MUMBAI (Reuters) - Indian drug maker Dr. Reddy's Ltd said on Thursday it had acquired Italian generics firm Jet Generici Srl for an undisclosed amount.
MUMBAI (Reuters) - The Indian rupee hovered in tight band on Thursday, with trading volumes slim, and traders said overseas capital inflows and outflows from choppy local equities were balanced.
Allen solly, a brand of Madura Garments, is eyeing a turnover of Rs 500 crore by 2011, a top company official has said. Source: Daily News & Analysis: Money News | 3 Apr 2008 | 9:27 am
There is good news in store for the 5 million DTH subscribers as channel bouquet prices are expected to go down. But the TRAI says it would rather reach an amicable understanding with the broadcasters instead of enforcing a price regime, reports CNBCTV18s Sandeep Gurumurthi and Samidha Sharma. Source: Moneycontrol Top Headlines | 3 Apr 2008 | 9:11 am
LONDON (Reuters) - Oil prices edged down below toward $104 on Thursday as growing signs that economic slowdown has been denting fuel demand in the United States trimmed the previous day's rally, the world's top consumer.
Ranbaxy Thursday said it launched the world's first bio-generic product Bonista-Teriparatide injection for the treatment of osteoporosis, a disease that leads to an increased risk of bone fracture. Source: IndiaeNews.com: Business News | 3 Apr 2008 | 9:02 am
NEW DELHI (Reuters) - The Cabinet on Thursday approved setting up information technology investment regions in the country to boost growth of IT enabled services and electronics hardware, a government statement.
India's biggest private lender ICICI Bank Thursday said it has bought back and retired bonds with a face value $50 million that were due to mature in 2012, its third such transaction within a month. Source: IndiaeNews.com: Business News | 3 Apr 2008 | 9:00 am
Bharat Forge is in talks with Rolls Royce, the aviation engine maker, for a possible alliance as part of its focus on growing the nonautomotive business, which it started focusing on from 2006. The Indian aviation sector is buying aircraft worth USD 5 billion every year and that\'s where Bharat Forge says it sees business. Source: Moneycontrol Top Headlines | 3 Apr 2008 | 8:57 am
The Bombay Stock Exchange benchmark Sensex gained 97 points in early trade on Thursday on selective buying by funds. Source: Daily News & Analysis: Money News | 3 Apr 2008 | 8:57 am
Ultra mega power projects are a huge success with private companies. Now, the Chattisgarh govt has taken that success to the next level. It has devised a plan to allow private power companies to sell power to any customer. In exchange, the govt will get electricity at highly discounted rate, reports CNBCTV18s Katya Naidu and Taapsi Ramchandani. Source: Moneycontrol Top Headlines | 3 Apr 2008 | 8:56 am
NEW DELHI (Reuters) - Indian petrochemical maker and oil refiner Reliance Industries Ltd has submitted two proposals totalling $7.55 billion to build semiconductor and micro-processor making units, the government said on Thursday.
Unilazer Ltd, the holding company of UTV Software Communications, is picking up a 20 per cent stake in the new English business channel UTVi. The channel would have a strategic content tieup with Disney ABC International Television (Asia Pacific), the international TV distribution arm of the The Walt Disney Company. Source: Moneycontrol Top Headlines | 3 Apr 2008 | 8:49 am
Mindteck India Ltd, technology and IT services company, said it acquired Chendle Holdings Ltd, and its operating subsidiary Primetech Solutions Inc and two of Mindtecks associate companies Mindteck UK Ltd and Mindteck Singapore Pte Ltd for $9.6 million to strengthen its footprint in Europe, APAC and the US. Source: Moneycontrol Top Headlines | 3 Apr 2008 | 8:47 am
TVS Motor Company said on Wednesday that it expects to tap car owners for its scooter model which is expected to be launched towards the end of 2008. Source: Moneycontrol Top Headlines | 3 Apr 2008 | 8:46 am
One of the head honchos of ICICI Bank, Kalpana Morparia has dismissed all the talk of exposure to derivatives by Indian companies as mere media hype. She says the exposure of India Inc to derivatives pales in comparison to that of foreign corporations. Source: Moneycontrol Top Headlines | 3 Apr 2008 | 8:42 am
MUMBAI (Reuters) - Apollo Hospital Enterprises Ltd plans to add 10 new hospitals over the next 18-24 months at an investment of 3.8 billion rupees, chairman Prathap Reddy told reporters on Thursday.
MUMBAI (Reuters) - India is expected to export about 3.5 million tonnes of sugar in the crop year ending in September, and exports will be about 1 million tonnes lower in the next crop year, an official of consultancy LMC International said.
LONDON (Reuters) - A gloomy outlook from U.S. Federal Reserve Chairman Ben Bernanke weighed on European stocks on Thursday although investors managed solid gains in Asia and broadly lifted the dollar.
The Indian equity markets extended their gains Thursday and were trading in the green early afternoon. There was buying interest in metal, IT and oil and gas sectors while capital goods, power and auto were under selling pressure. Source: IndiaeNews.com: Business News | 3 Apr 2008 | 8:02 am
Six main infrastructure industries in India, including crude oil, power generation and coal production, registered a 8.7 percent growth in February against 7.6 percent in the same month last fiscal. Source: IndiaeNews.com: Business News | 3 Apr 2008 | 8:00 am
Seafood exporters in Kerala are happy with the sops announced by the central government to bail them out, especially the incentive for shrimp farmers. Source: IndiaeNews.com: Business News | 3 Apr 2008 | 8:00 am
AHMEDABAD, India (Reuters) - Heavy rainfall and extended spells of cold weather in western India is expected to cut the country's salt production by 12 percent in 2008, making salt dearer at home and curtailing exports.
MUMBAI (Reuters) - India's gold futures were up on Thursday but were expected to trade in a range, with no fresh triggers after a firm crude oil fuelled a bounce-back from two-month lows earlier in the week, analysts said.
The sparkle has gone out of Gujarat's gold jewellery business, with an estimated fall of more than 50 percent in ornament sales across the state due to skyrocketing prices of the yellow metal. Source: IndiaeNews.com: Business News | 3 Apr 2008 | 7:02 am
India's second biggest producer of aluminium National Aluminium Co Ltd (Nalco) will be producing the country's first aluminium railway wagons within a year. Source: IndiaeNews.com: Business News | 3 Apr 2008 | 6:01 am
A new Coca-Cola advertisement featuring Bollywood star Hrithik Roshan is pegged on the theme 'Jashan Mana Le' or just have fun. Source: IndiaeNews.com: Business News | 3 Apr 2008 | 3:52 am
A Planning Commission-appointed
group on Wednesday suggested the government to reduce taxes on
aviation turbine fuel to make air travel cheaper, even as
recommending further reforms in banking and insurance sectors. Source: Zee News : Business | 3 Apr 2008 | 12:21 am
India`s industrial production growth, which slowed to 5.3 percent in January, is likely to further come down to around 3.4 percent between April-July when the country faces maximum power scarcity, industry body Assocham said. Source: Zee News : Business | 3 Apr 2008 | 12:21 am
Telecom tribunal TDSAT on Wednesday
adjourned the final hearing on the case filed by GSM lobby
COAI challenging cross-over technology regime and allocation
of additional spectrum. Source: Zee News : Business | 3 Apr 2008 | 12:21 am
With state governments reluctant to bring down their levies on aviation turbine fuel (ATF), the Planning Commission`s high level group on the services sector Wednesday recommended that the commodity be classified as a declared good, which would facilitate a uniform nationwide tax. Source: Zee News : Business | 3 Apr 2008 | 12:21 am
Reliance Entertainment Pvt Ltd (REPL) is all set to start its cinema chain in the US under the brand name Big from next month. More than 200 theatres will screen Hindi as well as regional films from India. Source: Zee News : Business | 3 Apr 2008 | 12:21 am
The recent duty cuts by India can have some impact on softening prices after a couple of weeks, Asian Development Bank said on Wednesday even as it expected inflationary pressure to persist for a few more months. Source: Zee News : Business | 3 Apr 2008 | 12:21 am
The International Monetary Fund has cut its 2008 global growth forecast to 3.7 percent from 4.1 percent previously, a press report said Wednesday. Source: Zee News : Business | 3 Apr 2008 | 12:21 am
Planning Commission Deputy Chairman Montek Singh Ahluwalia Wednesday said the Indian government was making the right efforts to check price rise. Source: Zee News : Business | 3 Apr 2008 | 12:21 am
As the government takes measures
to rein in inflation ahead of the Lok Sabha polls slated for
early next year and the RBI tightens monetary policy, Asian
development bank Wednesday projected Indian economic growth to
moderate 8 percent this fiscal from 8.7 percent in 2007-08. Source: Zee News : Business | 3 Apr 2008 | 12:21 am
Mumbai, April 2 Tata Motors is planning to list depository receipts (against underlying shares) on the Tokyo Stock Exchange, said a report in Japanese financial daily, The Nikkei. However, official sources of Tata Motors did ... Source: Business Line - Home Page | 3 Apr 2008 | 12:00 am
India’s economic growth will slow down in fiscal 2008-09 to 8 per cent as the Reserve Bank of India keeps monetary policy tight and the Government takes slew of measures to rein in inflation ahead of Parliamentary elections next year, ... Source: Business Line - Home Page | 3 Apr 2008 | 12:00 am
New Delhi, April 2 UAE’s telecom giant Emirates Telecommunications Corp (Etisalat) is in talks with Telekom Malaysia (TM) backed Spice Communications and other new licence holders for a possible foray into the Indian mobile space. ... Source: Business Line - Home Page | 3 Apr 2008 | 12:00 am
Reeling under the impact of surging steel prices, the apex bodies of construction industry under the aegis of Builders’ Association of India (BAI) on Wednesday sought Government intervention to rein-in steel price hike and warned that ... Source: Business Line - Home Page | 3 Apr 2008 | 12:00 am
The Indian Railways has increased the freight rate on iron-ore transportation by 5-6% by reclassifying it into 'class-180' from 'class-170'. Source: Daily News & Analysis: Money News | 2 Apr 2008 | 11:10 pm
The Basel II norms were quietly implemented in the Indian banking space on Monday, the last day of the last financial year. Source: Daily News & Analysis: Money News | 2 Apr 2008 | 11:09 pm
American Tower Company (ATC) is believed to be the frontrunner among the bidders for investing in the tower firm of Tata Teleservices. Source: Daily News & Analysis: Money News | 2 Apr 2008 | 11:08 pm
Emirates Telecommunications Corp (Etisalat), the United Arab Emirates' biggest phone company, may buy a stake in B K Modi's Spice Communications. Source: Daily News & Analysis: Money News | 2 Apr 2008 | 11:08 pm
The 'LITD 15' (the name of the 22-member committee representing the government) was asked whether India should change its September 2007 "No vote to a yes". Source: Daily News & Analysis: Money News | 2 Apr 2008 | 11:06 pm
Like Gupta, exporters in this labour-intensive Rs 4,000 crore cottage industry are eyeing markets in countries like Brazil, Turkey, Spain and Argentina. Source: Daily News & Analysis: Money News | 2 Apr 2008 | 10:58 pm
The US economy is now on a recession track. Yet this is a recession that could have been averted. Source: Daily News & Analysis: Money News | 2 Apr 2008 | 10:57 pm
Bank of Maharashtra has pulled out of its proposed general insurance joint venture with South African financial services Sanlam and Chennai-based Shriram Financial Services. Source: Daily News & Analysis: Money News | 2 Apr 2008 | 10:49 pm
The government appears to have hit upon a novel faculty-sharing solution to tackle the shortage of quality faculty at the premier Indian Institutes of Technology (IITs). ?? Source: Business Standard | Front Page Headlines | 2 Apr 2008 | 6:39 pm
Even as the government grapples with a surge in prices, a three-year old initiative to recast the index that measures wholesale prices is not getting anywhere fast. ?? Source: Business Standard | Front Page Headlines | 2 Apr 2008 | 6:37 pm
The steel industry, which has been raising prices, appears to be bowing to the government's pressure to reduce prices. Secondary steel producers has assured the government that they would hold the Source: Business Standard | Front Page Headlines | 2 Apr 2008 | 6:37 pm
India and Myanmar Wednesday discussed ways to increase connectivity and opening more border points between them, even as New Delhi urged the junta to expedite political reforms and make these more broad-based to include imprisoned pro-democracy leader Aung San Suu Kyi. Source: IndiaeNews.com: Business News | 2 Apr 2008 | 5:31 pm
