The Finance Minister in a reply to Budget said that the Software Technology Parks of India (STPI) will be extended to 2010 and this is most material to midcap technology. V Sundrajan, CFO of Aztecsoft feels that the move would definitely improve the after tax profits for the next financial year.\" Source: Moneycontrol Top Headlines | 29 Apr 2008 | 3:47 pm
RBI Governor YV Reddy has done it again. He has hiked CRR, which is the funds that banks have to park with the central bank, by 25 bps to 8.25%. Contrary to most market expectations, he has left the repo, and reverse repo rates unchanged. So, what do bankers and economist read into Reddy speak? Source: Moneycontrol Top Headlines | 29 Apr 2008 | 1:31 pm
Finance Minister, P Chidambram has extended exemptions to Software Tech Parks to March 2010. He said that the new IT code is to be placed before public soon. Source: Moneycontrol Top Headlines | 29 Apr 2008 | 12:59 pm
KPIT Cummins has declared MTM (markedtomarket) losses of Rs 89.3 crore. Its FY07 net profit was at Rs 50.3 crore. Ravi Pandit, Chairman Group CEO of KPIT Cummins informed that their MTM losses are only on cancellation of contracts. Source: Moneycontrol Top Headlines | 29 Apr 2008 | 11:13 am
V Srinivasan, MD and CEO, 3i Infotech, said the acquired company has revenue of USD 150 million, reports CNBCTV18. \"The acquired entity has a presence in the cheque processing space. We have acquired the profitable company at four times EBITDA.\" He was speaking to CNBCTV18. Source: Moneycontrol Top Headlines | 29 Apr 2008 | 11:08 am
In a bid to reach out to such consumers, retailers have begun experimenting, and have even tasted success to an extent, with newer ways of selling their products to them. Source: Daily News & Analysis: Money News | 29 Apr 2008 | 11:01 am
GlaxoSmithKline Pharmaceuticals plans to launch a patented anticancer drug Tykerb in May, reports CNBCTV18. The company also plans to inlicense two brands shortly. Source: Moneycontrol Top Headlines | 29 Apr 2008 | 10:54 am
MUMBAI/NEW DELHI (Reuters) - India unveiled a series of measures on Tuesday to tame inflation and secure food supplies, including the Reserve Bank of India's second move this month to drain liquidity from the banking system.
BANGALORE (Reuters) - India's main stock index provisionally ended 2.09 percent higher on Tuesday, with the central bank's decision to hold its key interest rates steady helping sentiment.
MUMBAI (Reuters) - The Reserve Bank of India said a 25 basis point increase in the cash reserve ratio (CRR) announced on Tuesday would absorb 90 billion rupees ($2.2 billion) from the banking system.
The Indian equities market responded positively to the credit policy announced by the central bank Tuesday. Source: IndiaeNews.com: Business News | 29 Apr 2008 | 10:00 am
NEW DELHI (Reuters) - India slapped export taxes on basmati rice and some steel products and cut more duties on Tuesday, as the finance minister unveiled a series of new moves to boost supplies of key commodities and help moderate inflation.
NEW DELHI (Reuters) - The Indian economy will expand by more than 8.0 percent in the current fiscal year which ends in March 2009, Finance Minister Palaniappan Chidambaram said on Tuesday.
Chidambaram expressed confidence that RBI's monetary policy in tandem with fiscal measures would have an impact on inflation. Source: Daily News & Analysis: Money News | 29 Apr 2008 | 9:34 am
Blaming the diversion of foodgrain for producing fuel and high crude oil prices for rising inflation in India, PM hoped a normal monsoon would salvage the situation. Source: Daily News & Analysis: Money News | 29 Apr 2008 | 9:33 am
India's central bank hiked the cash reserve ratio (CRR) for banks by another 25 basis points in a bid to contract money supply and contain price rise. Source: Daily News & Analysis: Money News | 29 Apr 2008 | 9:32 am
Prime Minister Manmohan Singh on Tuesday called for "sobriety in corporate lifestyle" to deal with inflation. Source: Daily News & Analysis: Money News | 29 Apr 2008 | 9:31 am
The government imposed up to 15 per cent export duty on various steel products to contain rise of prices of the alloy, a move that will hit industry hard. Source: Daily News & Analysis: Money News | 29 Apr 2008 | 9:17 am
NEW DELHI (Reuters) - The Reserve Bank of India's monetary policy review on Tuesday balanced the need for strong growth and calming price pressures, Finance Minister Palaniappan Chidambaram said.
The Reserve Bank of India hiked the cash reserve ratio (CRR) by 25 basis points to 8.25 percent in its monetary policy announced Tuesday morning, while keeping the repo rates and reverse repo rate unchanged, in an effort to keep inflation down to 4-4.45 percent. Source: IndiaeNews.com: Business News | 29 Apr 2008 | 9:02 am
Anil Ambani-led Reliance Capital announced a consolidated net profit of Rs 365.57 crore for the fourth quarter ended March 31, a 19.46 per cent growth over last year's fourth quarter. Source: Daily News & Analysis: Money News | 29 Apr 2008 | 9:00 am
The Reserve Bank hiked the CRR by 0.25 per cent to suck out excess liquidity, a move aimed at tempering demand for loans and easing inflation from three-year highs. Source: Daily News & Analysis: Money News | 29 Apr 2008 | 8:55 am
And our focus on the credit policy continues. So what is corporate Indias expectation from the RBI and what are the implications? A poll of CFOs conducted by CNBCTV18 indicates that expansion plans of India Inc will not be altered. Source: Moneycontrol Top Headlines | 29 Apr 2008 | 8:46 am
India's central bank hiked the cash reserve ratio (CRR) for banks by another 25 basis points Tuesday in a bid to contract money supply and contain price rise, but kept all other key rates unchanged. Source: IndiaeNews.com: Business News | 29 Apr 2008 | 8:32 am
Reliance Capital has posted a net profit of Rs.10.2 billion for the year ended March 31, 2008, which is almost 60 percent higher than the Rs.6.4 billion profit it registered in the previous fiscal. Source: IndiaeNews.com: Business News | 29 Apr 2008 | 8:30 am
With the coffee chain business becoming highly competitive, Barista Coffee is brewing strategies to expand footprints in the overseas and domestic markets. Seen as a popular hangout zone among youngsters, the coffee brand is looking to consolidate its presence in the Indian market. Source: Moneycontrol Top Headlines | 29 Apr 2008 | 8:19 am
NEW DELHI (Reuters) - Finance Minister Palaniappan Chidambaram on Tuesday extended by a year a tax holiday scheme for export-driven software companies as he outlined some changes to the federal budget for 2008/09.
The new BHELNTPC joint venture could virtually create a brand new player in the equipment manufacturing space in the country. Source: Moneycontrol Top Headlines | 29 Apr 2008 | 8:09 am
NEW DELHI (Reuters) - India is confident that steps taken to reverse rising prices will cool inflation, but the world community has not done enough to address problems of costly food and fuel, the prime minister said on Tuesday.
The Indian equities market which opened in the green Tuesday ahead of the monetary policy announcement of the Reserve Bank of India recorded a marginal gain in early trade, with buying interest in metal stocks. Source: IndiaeNews.com: Business News | 29 Apr 2008 | 6:00 am
Blaming the diversion of foodgrain for producing fuel and high crude oil prices for rising inflation in India, Prime Minister Manmohan Singh Tuesday hoped a normal monsoon would salvage the situation. Source: IndiaeNews.com: Business News | 29 Apr 2008 | 6:00 am
The Indian equities market opened in the green Tuesday ahead of the announcement of the monetary policy by Reserve Bank of India, the country's central bank. Source: IndiaeNews.com: Business News | 29 Apr 2008 | 5:00 am
Feni, that uniquely Goa drink distilled from the cashew apple, is showing a sharp decline in production. This despite the fact that it is one of the best-known local liquors in India. Source: IndiaeNews.com: Business News | 29 Apr 2008 | 4:01 am
Bangkok, April 28 As has been forecast already, the Bay of Bengal has thrown up a major tropical cyclone, Nargis, on Tuesday. Nargis is threatening to whip up speed and intensity, if forecasts by the US Navy’s Joint Typhoon ... Source: Business Line - Home Page | 29 Apr 2008 | 12:00 am
The fiscal and supply-augmenting measures taken by the Government are expected to help contain inflation and inflationary expectations, according to the RBI. In the macro-economic and monetary developments 2007-08 report, released on ... Source: Business Line - Home Page | 29 Apr 2008 | 12:00 am
As you drive from San Francisco airport to San Jose amidst picturesque redwood trees with Toyota Prius hybrids and six-door stretch Lincoln limousines and Harleys zipping by, it begins to sink in that this entire region referred to as Silicon ... Source: Business Line - Home Page | 29 Apr 2008 | 12:00 am
Two crucial events loom up this week. First, the RBI releases its Policy Statement for 2008-9 on April 29. The US Federal Reserve’s Federal Open Market Committee (FOMC) meets next on April 30 to decide interest rates. Indian markets are ... Source: Business Line - Home Page | 29 Apr 2008 | 12:00 am
Malhotra is one of new-gen shoppers for whom shopping experience does not count as much as time and convenience. Source: Daily News & Analysis: Money News | 28 Apr 2008 | 10:14 pm
The bulls might still be wary of indulging in the bluechips, but they have been chasing some smaller stocks all right. Source: Daily News & Analysis: Money News | 28 Apr 2008 | 10:06 pm
Actor-politician Jayaprada Monday launched the 16th centre of the beauty-care brand Vandana Luthra's Curls and Curves (VLCC) in the national capital region (NCR). Source: IndiaeNews.com: Business News | 28 Apr 2008 | 7:31 pm
Kotak Mahindra Bank has hiked interest rates on its term deposits to 8.5 percent (271 days to less than 1 year) and 9.25 percent (1 year to less than 5 years). Source: IndiaeNews.com: Business News | 28 Apr 2008 | 7:01 pm
ICICI Bank defers IPO for I-Sec following clarification.In a move that could significantly ease bank investment in their non-banking activities such as insurance and financial services, the Reserve Bank of India (RBI) has exempted their joint ventures and overseas subsidiaries from an investment limit on affiliates. Source: Business Standard | Front Page Headlines | 28 Apr 2008 | 6:39 pm
