According to sources, AV Birla Group is likely to review retail strategy, reports CNBCTV18. The retail review is on account of inflationary pressures, they said. The group may rework cost arrangments with vendors. Source: Moneycontrol Top Headlines | 30 Apr 2008 | 4:38 pm
Jan Lambregts, Director and Head of Research, Rabobank International expects a 25 bps rate cut today. \"We think that will be accompanied by a statement that more or less acknowledges that the Fed thinks they are done,\" he said. Source: Moneycontrol Top Headlines | 30 Apr 2008 | 1:49 pm
Marksans Pharma is in talks to acquire a UKbased company, Relonchem, reports CNBCTV18, quoting sources. Relonchem specialises in licensing, marketing and supply of branded products. Marksans Pharma is likely to pay onetime sales of Relonchem, sources say. Source: Moneycontrol Top Headlines | 30 Apr 2008 | 12:45 pm
The US Federal Reserve is expected to cut interest rates by a modest quarter percentage point on Wednesday and may suggest the rate-cutting cycle it kicked off last fall has reached an end. Source: Zee News : Business | 30 Apr 2008 | 12:30 pm
With its high dollar making Canada the world`s most expensive place to manufacture vehicles, General Motors (GM) has decided to cut production at its Oshawa plant near here and lay off about 1,000 workers. Source: Zee News : Business | 30 Apr 2008 | 12:30 pm
The stock markets sustained their
upward march on Wednesday as the benchmark Sensex gained 49 points on
the back of robust earnings season and encouraging global cues
even as the Reserve Bank kept all key lending rates steady in
its annual monetary policy. Source: Zee News : Business | 30 Apr 2008 | 12:30 pm
US President George W Bush said on Tuesday there was no "magic wand" to bring down record-high fuel prices but would consider a proposal to suspend Federal gasoline taxes this summer – an idea that has divided the 2008 Presidential candidates. Source: Zee News : Business | 30 Apr 2008 | 12:30 pm
ArcelorMittal SA, the world`s biggest steel maker, today said it has signed a deal to buy iron ore from Brazilian miner Vale for the next 10 years. Source: Zee News : Business | 30 Apr 2008 | 12:30 pm
A long-awaited reform of the voting procedures of the International Monetary Fund (IMF) that gives developing countries a modest increase in influence was formally adopted on Tuesday, said Dominique Strauss-Kahn, the organisation`s managing director. Source: Zee News : Business | 30 Apr 2008 | 12:30 pm
Oil dipped on Wednesday, a day after the rallying dollar triggered the market`s sharpest fall in four weeks, as traders waited to see whether the US Federal Reserve would signal an end to its interest rate cuts. Source: Zee News : Business | 30 Apr 2008 | 12:30 pm
The markets closed weak on Wednesday with the benchmark Sensex on the Bombay Stock Exchange losing 91 points even as all eyes are on US Federal Reserve meeting. Source: Daily News & Analysis: Money News | 30 Apr 2008 | 12:01 pm
MUMBAI (Reuters) - India's annual inflation rate is expected to hold up well above 7 percent in mid-April and stay close to its three-year peak hit last month, a Reuters poll of 12 analysts showed on Wednesday.
BANGALORE (Reuters) - Indian shares dropped 0.5 percent in choppy trade on Wednesday, but posted its first monthly rise this year, as investors awaited the outcome of a U.S. rate-setting meeting.
SAN FRANCISCO (Reuters) - Microsoft Corp has considered earmarking $1.5 billion to retain Yahoo Inc employees if it acquires the company, according to court documents in a shareholder suit filed against Yahoo.
DLF would pay approximately Rs 2,000 crore as Income Tax in FY08, reports CNBCTV18, quoting sources. This makes DLF the highest corporate taxpayer in North India, sources add. Source: Moneycontrol Top Headlines | 30 Apr 2008 | 10:55 am
NTPC, the country's largest power utility, has formed a joint venture with Bharat Heavy Electricals Ltd (Bhel). Source: Daily News & Analysis: Money News | 30 Apr 2008 | 10:50 am
Spruce up colours on your walls soon or be prepared to shell out more for the same as prices of solvent-based paints seem poised to move northward. Source: Daily News & Analysis: Money News | 30 Apr 2008 | 10:48 am
Engineers unable to find a job in their respective vertical are a dime a dozen, across the country. And their number is growing. Source: Daily News & Analysis: Money News | 30 Apr 2008 | 10:46 am
Aditya Birla group flagship Grasim Industries will invest around Rs 3,000 crore this fiscal. Source: Daily News & Analysis: Money News | 30 Apr 2008 | 10:44 am
Belying expectations from analysts and the media, Reserve Bank of India (RBI) governor Y V Reddy upped the cash reserve ratio (CRR) by 25 basis points on Tuesday. Source: Daily News & Analysis: Money News | 30 Apr 2008 | 10:36 am
China has threatened a sharp reduction in iron ore orders unless Indian exporters shift to contract supplies from the prevalent spot rate basis. Source: Daily News & Analysis: Money News | 30 Apr 2008 | 10:34 am
LONDON (Reuters) - Gold fell to a three-month low on Wednesday as investors squared positions and took profits ahead of a decision on U.S. interest rates by the Federal Reserve later in the day.
The information technology industry gave its thumbs up to finance minister P Chidambaram's move. Source: Daily News & Analysis: Money News | 30 Apr 2008 | 10:29 am
LONDON (Reuters) - Oil fell to $115 a barrel on Wednesday as a Nigerian oil union agreed to return to work, raising hopes that production shut down in the OPEC oil exporter will come back on line.
NEW DELHI (Reuters) – Reliance Communications, India's No. 2 mobile operator, beat forecasts with a 47 percent jump in quarterly net profit as it added more users in the world's fastest-growing wireless market, sending its shares up 2 percent.
MUMBAI (Reuters) - Reliance Communications, India's No. 2 mobile operator, will complete its GSM network expansion in the next 12-18 months, its Chairman said on Wednesday.
The Indian equities market slipped into the red early Wednesday afternoon due to selling pressure on banking, realty and oil and gas sector stocks. Source: IndiaeNews.com: Business News | 30 Apr 2008 | 9:33 am
US based Rockwell Automation, global manufacturers of industrial automation solution, said Wednesday it has partnered with L and amp;T Infotech to develop FactoryTalk an Information Solution Provider programme. Source: IndiaeNews.com: Business News | 30 Apr 2008 | 9:32 am
Anil Ambani-led Reliance Communications has posted a 70.8 percent rise in net profits for the year ended March 31, to log Rs.54.01 billion ($1.35 billion), against Rs.31.64 billion ($717 million) for the year before. Source: IndiaeNews.com: Business News | 30 Apr 2008 | 9:30 am
LONDON (Reuters) - Global stock and bond markets held steady on Wednesday as traders awaited another interest rate cut from the U.S. Federal Reserve and assessed the durability of April's recovery in equity and credit markets.
Dr Reddy\'s has acquired BASF\'s pharma contract manufacturing business, the facilities for which are at Shreveport, US. DRL will fund acquisition via internal reserves and credit facilities. DRL\'s acquired business includes generic and overthecounter (OTC) products and had a revenue of USD 43 million in CY07. Source: Moneycontrol Top Headlines | 30 Apr 2008 | 9:04 am
The world\'s largest business to business (B2B) ecommerce site Alibaba.com on Tuesday tied up with publishing company Infomedia for its official India foray. The move is going to help millions of SMEs in India tap the global marketplace. Source: Moneycontrol Top Headlines | 30 Apr 2008 | 8:49 am
MUMBAI (Reuters) - The rupee gave up some of its gains on Wednesday as dealers pared positions ahead of a Fed rate decision later in the day which may provide clues on the near-term currency trend and as oil firms bought dollars.
The second phase Rs.5 billion expansion of India's state-run National Aluminium Co Ltd (Nalco) will be completed by the end of this year, a company statement said Wednesday, a day after it was accorded the much awaited Navratna status. Source: IndiaeNews.com: Business News | 30 Apr 2008 | 8:33 am
Around 1,000 farmers, who sold their lands to the Maharashtra Government for the development of the Bharat Forge multiproduct special economic zone at Khed, have formed a company that will soon go into business with 250 hectares of developed land inside the SEZ as principal assets. Source: Moneycontrol Top Headlines | 30 Apr 2008 | 8:32 am
The Corporate Research and Development of Bharat Heavy Electricals Ltd (BHEL) plans to spend around Rs 500 crore on RD during the current financial year. Source: Moneycontrol Top Headlines | 30 Apr 2008 | 8:20 am
Mahindra Tractors plans to launch an ultralowcost tractor to drive deep into the rural market. Source: Moneycontrol Top Headlines | 30 Apr 2008 | 8:11 am
NEW YORK (Reuters) - Descendants of John D. Rockefeller, noteworthy shareholders of Exxon Mobil Corp, are asking it to change its corporate governance and look closely at the future of global energy supply, the Wall Street Journal reported on Wednesday.
The Supreme Court Wednesday deferred the hearing on a petition by former minister Subramanian Swamy alleging that Transport Minister T.R. Baalu is trying to hurry up the implementation of the Sethusamudram Shipping Canal Project (SSCP) to further his family's business interests. Source: IndiaeNews.com: Business News | 30 Apr 2008 | 6:30 am
Buoyed by the response to its initiative in reaching out to young Indian innovators to enable them translate their ideas into commercial products, US aerospace major Lockheed Martin is extending the programme beyond its original two-year timeline. Source: IndiaeNews.com: Business News | 30 Apr 2008 | 6:03 am
The Indian equities market opened with a positive gap Wednesday mirroring strong markets elsewhere in Asia. Though initial trade was choppy, all sectoral indices were in the green, barring metal and IT. Source: IndiaeNews.com: Business News | 30 Apr 2008 | 6:01 am
Kerala's ruling Communist Party of India-Marxist (CPI-M), known for its extremely labour-friendly policies, has now spoken in favour of paying wages to only those who actually work - a move welcomed by investors. Source: IndiaeNews.com: Business News | 30 Apr 2008 | 6:00 am
Bangkok, April 29 The Category-4 tropical cyclone, Nargis, remained practically stationary over the west central and adjoining southwest and southeast Bay of Bengal around 2.30 pm on Wednesday, an India Meteorological Department (IMD) update ... Source: Business Line - Home Page | 30 Apr 2008 | 12:00 am
Chennai, April 29 Market participants have appreciated the RBI’s credit policy, which, according to them, is a good strike between growth and inflation.Mr Alex Mathew, Head, Research Centre, Geojit Financial Services Ltd, said: ... Source: Business Line - Home Page | 30 Apr 2008 | 12:00 am
The Navi Mumbai airport project would miss its 2012 deadline unless the various ministries involved in getting it off the ground come to an agreement soon. Source: Daily News & Analysis: Money News | 29 Apr 2008 | 10:22 pm
Delhi-based private sector refiner Cals Refineries will start the process of dismantling its Bayeroil Refinery in Germany from May this year and will shift the unit to West Bengal, state Industry Minister Nirupam Sen has said. Source: IndiaeNews.com: Business News | 29 Apr 2008 | 7:02 pm
Interest rates are not expected to go up immediately even as the Reserve Bank of India (RBI) today announced a fresh 25-basis-point hike in the cash reserve ratio (CRR), the amount of cash banks must keep with the central bank, in its Annual Policy Statement for 2008-09. Source: Business Standard | Front Page Headlines | 29 Apr 2008 | 6:48 pm
Finance Minister P Chidambaram today announced a series of measures to control wholesale price inflation that has spiralled past 7 per cent earlier this month, ranging from steps to control steel prices to increasing domestic availability of cement, skimmed milk and basmati rice. Source: Business Standard | Front Page Headlines | 29 Apr 2008 | 6:47 pm
Tata Communications Ltd (TCL) and Cisco Tuesday announced they would set up telepresence rooms at four offices of the Confederation of Indian Industry (CII) in the country. Source: IndiaeNews.com: Business News | 29 Apr 2008 | 6:00 pm
Anil Mittal, CMD, KRBL said that his company has requested their foreign customer to take on some of the burden of the duty imposed by PC Chidambaram and he is still awaiting their reply. He said that no exporter could be able to bear the entire brunt of the duty by himself. Source: Moneycontrol Top Headlines | 29 Apr 2008 | 4:47 pm
