AHMEDABAD (Reuters) - Reliance Money, a subsidiary of Anil Dhirubhai Ambani Group's Reliance Capital Ltd., said on Thursday it had launched a sharia-compliant portfolio management scheme in partnership with Islamic investment service Parsoli Corporation Ltd.
ST PETERSBURG, Russia (Reuters) - Thousands of people protested against rising food prices across Russia on Thursday, highlighting one of the biggest challenges that will face Dmitry Medvedev when he takes over as president next week.
NEW DELHI (Reuters) - India's exports grew by 23 percent to $155.5 billion in the fiscal year ended March, missing an annual target, and analysts said shipments would face headwinds in the current year due to a possible global slowdown.
Air travel has become more expensive with Jet Airways and SpiceJet hiking fares and other airlines likely to follow suit after public sector oil companies raised aviation fuel prices effective from Thursday midnight. Source: IndiaeNews.com: Business News | 1 May 2008 | 11:35 am
India's trade deficit has widened by a whopping 34 percent - to an estimated $80.4 billion for 2007-08 from $59.32 billion in 2006-07, according to official data released Thursday. Source: IndiaeNews.com: Business News | 1 May 2008 | 11:26 am
India's growth story is intact and the economy will expand by 8.5-9 percent in the current fiscal, driven by a strong corporate performance, says an optimistic K.V. Kamath, the new president of the Confederation of Indian Industry (CII). Source: IndiaeNews.com: Business News | 1 May 2008 | 11:15 am
Pakistan's new government hiked petrol and diesel prices, for the second time since it took over March 30. Source: Daily News & Analysis: Money News | 1 May 2008 | 10:42 am
NHPC and Jammu and Kashmir's Power Development Corporation (PDC) have drawn up an ambitious plan to build three projects by 2012 in the power-starved state. Source: Daily News & Analysis: Money News | 1 May 2008 | 10:38 am
Indian industry will grow at 8.3-8.6 percent in 2008-09, driven by robust corporate performance. Source: Daily News & Analysis: Money News | 1 May 2008 | 10:37 am
The US Federal Reserve slashed its benchmark interest rate by 0.25 percentage points amid continuing concerns of an economic downturn in the US. Source: Daily News & Analysis: Money News | 1 May 2008 | 10:36 am
Appreciation of the Chinese yuan and a drop in China's cotton output have helped the Indian textile industry emerge as a major exporter once again. Source: Daily News & Analysis: Money News | 1 May 2008 | 10:35 am
LONDON (Reuters) - Crude oil futures unwound earlier gains on Thursday as the dollar strengthened, while limited support came from a continuing oil workers strike in Nigeria.
Budget airline AirAsia will fly daily to Trichy from Kuala Lumpur, offering a two-way flight for RM400 (Rs.5,000 or nearly $125) inclusive of airport tax. Source: Daily News & Analysis: Money News | 1 May 2008 | 10:15 am
NEW DELHI (Reuters) - State-run banks are unlikely to raise rates after the central bank tightened bank reserve requirements this week, Finance Minister Palaniappan Chidambaram said on Thursday.
BANGKOK (Reuters) - Thailand, the world's largest rice exporter, will not restrict exports of the grain despite prices surging to record highs, as domestic supplies were improving, the country's agriculture minister said on Thursday.
The National Hydel Power Corporation (NHPC) and Jammu and Kashmir's Power Development Corporation (PDC) have drawn up an ambitious plan to build three projects by 2012 in the power-starved state. Source: IndiaeNews.com: Business News | 1 May 2008 | 9:32 am
The Animal Welfare Board of India (AWBI) has accused telecom service provider Vodafone of indulging in cruelty to animals and issued a legal notice to the company and to Bangalore-based Nirvana Films, makers of an advertisement that shows a pug running after a school bus. Source: IndiaeNews.com: Business News | 1 May 2008 | 8:30 am
DHAKA (Reuters) - Bangladesh will ban exports of non-aromatic rice to boost stocks as fears grow that the staple will be in short supply, Commerce Secretary Firoz Ahmed said on Thursday.
Appreciation of the Chinese yuan and a drop in China's cotton output have helped the Indian textile industry emerge as a major exporter once again, overcoming one of its worst phases, says a top official of an industry lobby. Source: IndiaeNews.com: Business News | 1 May 2008 | 7:01 am
SINGAPORE (Reuters) - Gold jumped almost 2 percent on Thursday on a softer dollar, regaining its appeal as an alternative investment after the U.S. Federal Reserve trimmed interest rates but left the outlook for more cuts unclear.
Indian tourism to South Africa continues to grow, with an unprecedented 32.6 percent increase in the third quarter of 2007, but China is fast catching up, say the latest reports of South African Tourism (SAT). Source: IndiaeNews.com: Business News | 1 May 2008 | 5:00 am
The widely-tracked wholesale price index (WPI), the cause of severe political pangs for the government every Friday, will be released on a monthly basis by the end of this year instead of weekly. Source: Business Standard | Front Page Headlines | 1 May 2008 | 12:59 am
In a landmark decision the Central Information Commission (CIC) has ruled that the income tax returns of political parties will come under the purview of the Right to Information Act (RTI). Source: Business Standard | Front Page Headlines | 1 May 2008 | 12:58 am
New Delhi, April 30 The employee provident fund (EPF) money will not be invested in equities, Mr Oscar Fernandes, the Minister of State (Independent Charge) for Labour and Employment, has said. “The proposal regarding investment ... Source: Business Line - Home Page | 1 May 2008 | 12:00 am
Bangalore, April 30 Infosys BPO Ltd said Platform BPO would constitute 25 to 30 per cent of its revenue by fiscal 2010, and added that the adoption of the new model would be higher during the recession because of its flexible cost ... Source: Business Line - Home Page | 1 May 2008 | 12:00 am
New Delhi, April 30 For letting the body of three of its Rajdhani rakes – Chennai, Bangalore and Thiruvananthapuram Rajdhani Express — to be used for a branding exercise of a private company, the Northern Railway will receive Rs 25 ... Source: Business Line - Home Page | 1 May 2008 | 12:00 am
New Delhi, April 30 The Government in future will release monthly figures on rate of inflation. It will also release the actual prices of various commodities used in calculating the inflation rate, the Secretary in the Department of ... Source: Business Line - Home Page | 1 May 2008 | 12:00 am
Real estate has always been a much-valued investment in India. From individuals who have inherited property to corporates with huge land banks, the sector has seen unprecedented activity. However, the very nature of the industry and its ... Source: Business Line - Home Page | 1 May 2008 | 12:00 am
The month-end demand from oil importers and the strength in the US dollar ahead of the Federal Open Market Committee (FOMC) statement on Wednesday had a greater impact on the rupee than the 25 bps hike in the cash reserve ratio by the Reserve ... Source: Business Line - Home Page | 1 May 2008 | 12:00 am
WASHINGTON (Reuters) - The Federal Reserve lowered U.S. interest rates by a modest quarter percentage point on Wednesday, as expected, and hinted the move could be the last in a series meant to buffer the economy from a credit crunch and housing downturn.
When finance minister P Chidambaram asked companies to curtail profitability to help control inflation, he probably had the steel and cement industries in mind. Source: Daily News & Analysis: Money News | 30 Apr 2008 | 11:02 pm
Economists, human resource (HR) experts and businessmen have universally panned the government's efforts to link corporate profits and salary levels to inflation. Source: Daily News & Analysis: Money News | 30 Apr 2008 | 11:01 pm
It could be balm for airlines which have burnt themselves in the raging fire of spiralling aviation turbine fuel (ATF) prices. Source: Daily News & Analysis: Money News | 30 Apr 2008 | 10:22 pm
Essar Steel Holdings has acquired Nasdaq-listed steel maker Esmark for an enterprise value of $1.1 billion (Rs 4,456.10 crore), thereby setting up a beachhead in Ohio Source: Daily News & Analysis: Money News | 30 Apr 2008 | 10:21 pm
Ashok Leyland is driving out a Rs 3,000 crore expansion plan. A mix of debt and equity, the process of raising capital will be completed by the yearend. High valuations may drive Leyland out of the race for French auto component maker, Valeo. Source: Moneycontrol Top Headlines | 30 Apr 2008 | 10:11 pm
Mall developer Phoenix Mills is getting into the business of building hotels. The company plans to invest about Rs 1,100 crore over the next three years. Phoenix Mills Company, which until now has only built malls, is now planning to build 23 hotels across India in the next 36 months. Source: Moneycontrol Top Headlines | 30 Apr 2008 | 9:52 pm
Jet Airways has raised fuel surcharge by Rs 350 for long haul flights, reports CNBCTV18. The aviation major has raised economy, and business class fare by 10% from May 3 Source: Moneycontrol Top Headlines | 30 Apr 2008 | 9:42 pm
IIMA might have hiked its fee, but there are interesting loan options on the tale for students. An MBA at IIMA might be costlier now, but it may not keep students away after all. That\'s because banks are coming to the rescue. Source: Moneycontrol Top Headlines | 30 Apr 2008 | 9:36 pm
Reserve Bank of India Governor YV Reddy said GDP growth cannot be below 8%. He expects a marginal reduction in inflation in the next 23 months. \"Using the rupee to control inflation is a good intellectual proposition. However, there is no change in RBI\'s exchange rate policy. The exchange rate is market determined and hence is not an instrument.\" Source: Moneycontrol Top Headlines | 30 Apr 2008 | 8:55 pm
NEW YORK (Reuters) - Consumers battered by soaring energy and food prices may see little relief after the U.S. Federal Reserve cut interest rates on Wednesday and left the door open to further cuts.
The Enforcement Directorate has initiated an investigation U/S 37 of the Foreign Exchange Management Act 1999. The Assistant Director of the Enforcement Directorate\'s Mumbai Office has shot off letters to companies asking them information on forex transactions. A copy of that letter is in the possession of CNBCTV18. Source: Moneycontrol Top Headlines | 30 Apr 2008 | 8:00 pm
Finance Minister P Chidambaram said the government will take more steps if needed to curb inflation, reports CNBCTV18. He said the government aims to become the fastest growing economy in the world. \"We aim to have 10% growth in FY12.\" Source: Moneycontrol Top Headlines | 30 Apr 2008 | 7:56 pm
Differences between Bisleri chief Ramesh Chauhan and Coca-Cola India over the Maaza trademark intensified today with Chauhan demanding Rs 20 crore as compensation from the cola giant for allegedly breaching an agreement preventing the latter from registering the trademark in countries other than India. Source: Business Standard | Front Page Headlines | 30 Apr 2008 | 6:58 pm
The finance ministry has asked public sector banks to disclose their exposure to forex derivatives and structured products. Source: Business Standard | Front Page Headlines | 30 Apr 2008 | 6:57 pm
At a time when a large number of companies and banks are reporting mark-to-market (MTM) losses on derivatives, mortgage lender Housing Development Finance Corporation (HDFC) today said it has made an MTM gain of Rs 293.59 crore on its portfolio. Source: Business Standard | Front Page Headlines | 30 Apr 2008 | 6:57 pm
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
The Lok Sabha Wednesday passed the Carriage by Air (Amendment) Bill, 2007, which aims to enhance the compensation package for international travellers in the event of death or injury and for loss or damage to baggage. Source: IndiaeNews.com: Business News | 30 Apr 2008 | 4:30 pm
The worldwide release rights of Rajinikanth-starrer 'Kuselan', a bi-lingual in Tamil and Telugu, has gone to Pyramid Saimira Entertainment Ltd, Singapore, the company said here Wednesday. Source: IndiaeNews.com: Business News | 30 Apr 2008 | 4:00 pm
Pharma major Nicholas Piramal India has inked a long-term strategic partnership with DxTech LLC, a US-based company specializing in putting high-quality diagnostic information in the hands of physicians in real time. Source: IndiaeNews.com: Business News | 30 Apr 2008 | 3:01 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
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
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
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 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
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
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
