The Steel Ministry has demanded rollback of export duties on some products, reports CNBCTV18 quoting Newswire 18. It has asked for dutyfree CR coil, coated steel, pipe and tube export. Source: Moneycontrol Top Headlines | 2 May 2008 | 6:10 pm
MindTree Ltd has announced that it has signed a definitive agreement with the largest shareholder of Aztecsoft Ltd. to acquire 32.57% at Rs 80 per share, which values the company at an equity valuation of USD 90 million. Source: Moneycontrol Top Headlines | 2 May 2008 | 4:33 pm
HSBC has foiled a record breaking 70 million pound fraud. A bank clerk of Indian origin Jagmeet Channa has been charged with planning to steal a recordbreaking 70 million pound from his employers. It is understood that the alleged fraud involved moving money electronically from one account into another. Source: Moneycontrol Top Headlines | 2 May 2008 | 4:28 pm
Parsvnath Developers has acquired property worth Rs 200 crore in Connaught Place in New Delhi. Pradeep Jain, Chairman, Parsvnath Developers said that they have already acquired the property and paid money for the land. Jain added that they will develop a luxury retail mall with office space property. Source: Moneycontrol Top Headlines | 2 May 2008 | 3:43 pm
Wipro has announced its next level of organization changes, reports CNBCTV18 quoting sources. Wipro\'s President Enterprise Solutions Division, Sudip Banerjee has puts in his papers. Source: Moneycontrol Top Headlines | 2 May 2008 | 3:04 pm
HDIL has received the governments approval for the airport slum rehabilitation project, reports CNBCTV18. Sarang Wadhawan, MD, HDIL said that the additional FSI and TDR would accrue to the company as a result of the clearance. 6500080000 tenants would be rehabilitated under the project, he said. Source: Moneycontrol Top Headlines | 2 May 2008 | 2:59 pm
CNBCTV18 has learnt that 3i Infotech is close to signing a USD 100 million deal with two clients. Sources say that its a USD 50 million deal from each client one from banking and the other from telecom. The companys management could not be reached for comments. Source: Moneycontrol Top Headlines | 2 May 2008 | 1:14 pm
Reliance Power has acquired three coal mines in South Sumatra and Indonesia. It will invest USD 1 billion in mine exploration and logistics. JP Chalsani, CEO, Reliance Power told CNBCTV18 that payment for the acquisition is linked to actual production of coal and the three mines have total coal resources of 2 billion metric tonne. Source: Moneycontrol Top Headlines | 2 May 2008 | 1:02 pm
prices retreated further Friday from the early week record near USD 120 a barrel as a strengthening US dollar prompted investors to exit the market. Source: Zee News : Business | 2 May 2008 | 1:02 pm
LONDON (Reuters) - Willis Group Holdings Ltd, the world's third-largest insurance broker, expects to keep its annual revenue growth in the China market at at least 20 percent for the next five years and will increase its stake sharply in its local venture, a senior executive said on Friday.
The Bombay Stock Exchange benchmark Sensex on Friday gained 312 points on buying mainly in heavyweight stocks led by bank, auto and realty sectors. Source: Daily News & Analysis: Money News | 2 May 2008 | 12:43 pm
Targeting 55 million farmers under the fold of IFFCO, telecom major Bharti Airtel announced a joint venture with it on Friday Source: Daily News & Analysis: Money News | 2 May 2008 | 12:37 pm
A spokesman of mobile telephony major Vodafone on Friday denied charges of cruelty to its mascot pug Source: Daily News & Analysis: Money News | 2 May 2008 | 12:35 pm
MUMBAI (Reuters) - The Indian rupee fell to a 1-½ month low on Friday, but then trimmed losses as banks liquidated some of their long dollar positions and exporters cashed in their holdings.
WASHINGTON (Reuters) - The U.S. Federal Reserve on Friday announced steps to help ease persistent strains in credit markets, stepping up the size of some cash auctions for financial institutions and raising the amount of U.S. dollars it provides to the European Central Bank and Swiss National Bank.
Union Finance Minister P Chidambaram said inflation would be 'tamed' and food prices are expected to come down 'sooner' than other rates. Source: Daily News & Analysis: Money News | 2 May 2008 | 12:18 pm
KOLKATA (Reuters) - India's top lender, State Bank of India, posted a better-than-expected 26 percent rise in quarterly net profit as access to low cost funds helped cushion tighter margins and nudged its shares up more than 3 percent.
The Indian equities market ended the last day of the trading session of the week with a hefty gain Friday. The banking and realty sectors led the gaining rally. Except metal, all sectoral indices ended the day in green. Source: IndiaeNews.com: Business News | 2 May 2008 | 12:00 pm
The state-owned Minerals and Metals Trading Corp (MMTC) announced Friday that it would organise an exhibition of its products during the Akshaya Tritiya festival next week in Chennai aimed at cashing in on the booming demand for gold and silver. Source: IndiaeNews.com: Business News | 2 May 2008 | 12:00 pm
NEW DELHI (Reuters) - Foreign direct investment in India in the financial year 2008/09 is expected to touch $35 billion, the trade minister said on Friday.
NEW DELHI (Reuters) - India's inflation rate hit its highest level in 3-½ years in mid-April at 7.57 percent and the finance minister said he was ready to take further steps to contain prices if needed.
NEW DELHI (Reuters) - India is likely to exceed the target of buying 27 million tonnes of rice in the marketing year to September 2008, the chairman and managing director of Food Corp of India, Alok Sinha, told reporters on Friday.
MUMBAI (Reuters) - Indian shares climbed 1.8 percent to their highest close in two months on Friday, as investors shrugged off a spike in inflation and drew comfort from a global equities rally.
The Public Private Partnership Appraisal Committee (PPPAC) has granted fresh approval to 13 infrastructure development projects worth Rs.79.46 billion ($1.98 billion) under the public private partnership model. Source: IndiaeNews.com: Business News | 2 May 2008 | 11:30 am
CHANDIGARH (Reuters) - Farmers in major wheat producer Punjab are unlikely to hold back stocks this year on hopes prices will remain stable in the current year, experts said.
Parsvnath Developers Ltd (PDL) is planning a new luxury mall complex in the heart of Delhi at Connaught Place. Source: IndiaeNews.com: Business News | 2 May 2008 | 11:01 am
Bicycle and engineering products company Tube Investments of India Limited (TI) has closed FY08 with a revenue of Rs.17.62 billion and a net profit of Rs.565 million. Source: IndiaeNews.com: Business News | 2 May 2008 | 11:01 am
Automobile tyre manufacturer MRF Ltd has signed a memorandum of understanding (MoU) with the Tamil Nadu government Friday to set up a radial tyre plant in Perambulur district. Source: IndiaeNews.com: Business News | 2 May 2008 | 11:01 am
A test done recently on decorative lamps by the Consumer Education and Research Society (CERS) here has revealed that Chinese lamps were not only of inferior quality but posed health hazards too. The lamps are commonly used during festivals and weddings. Source: IndiaeNews.com: Business News | 2 May 2008 | 11:01 am
Bharti Airtel, India's leading mobile phone service provider, Friday entered into a strategic partnership with state-run Indian Farmers Fertiliser Cooperative Ltd (IFFCO) to offer telephony services to farmers in the country's hinterland. Source: IndiaeNews.com: Business News | 2 May 2008 | 11:00 am
Coastal Energen Pvt Ltd, an arm of Dubai's Coal and Oil group, is in discussions with power equipment makers in China, South Korea and the US for importing boilers and turbine generators for its 1080 MW thermal power project in Tuticorin in Tamil Nadu, a company official said. Source: IndiaeNews.com: Business News | 2 May 2008 | 10:31 am
The Dubai-based AW Al Rostamani group, having interests in automobile dealerships, real estate, logistics and IT, is looking for investment opportunities in India, company officials said. Source: IndiaeNews.com: Business News | 2 May 2008 | 10:31 am
CNBCTV18 learns that Mahindra and Mahindra is exploring buying stake in Punebased twowheeler maker Kinetic Motor. That\'s not all; the buzz is that Kinetic is getting a separate financial investor to pump money into the company. Source: Moneycontrol Top Headlines | 2 May 2008 | 9:59 am
India\'s biggest investor education series \'Money Yatra\' by CNBCAwaaz will be launched today. The initiative will be flagged off by Sebi Chairman CB Bhave at the National Stock Exchange Auditorium in Mumbai. Source: Moneycontrol Top Headlines | 2 May 2008 | 9:20 am
Bangkok, May 1 The very severe cyclonic storm Nargis patrolling the west-central and adjoining south and east-central Bay of Bengal is cruising along its trajectory to the northeast, having recurved from the mid-seas off Chennai. The ... Source: Business Line - Home Page | 2 May 2008 | 12:00 am
April has brought cheer to car makers and two wheeler makers alike. An uptrend is visible in the car market while the slumping two-wheeler sector has witnessed a turnaround.The duty cut in the Budget seems to have worked in favour of ... Source: Business Line - Home Page | 2 May 2008 | 12:00 am
Television audience rating points for the DLF Indian Premier League matches played last week lost some weight by the end of the week. The matches played on April 26 scored 3.6 and 4 TVR compared with ratings of 5.6 and 5.9 for matches played on ... Source: Business Line - Home Page | 2 May 2008 | 12:00 am
Standalone health insurer Apollo DKV, which began operations in December 2007, is putting in place aggressive plans with a line-up of new products and services. Source: Daily News & Analysis: Money News | 1 May 2008 | 10:38 pm
Makemytrip, travel-booking portal, is putting "strong emphasis" on car rentals, rail tours and domestic and international travel holiday packages to boost its growth. Source: Daily News & Analysis: Money News | 1 May 2008 | 10:37 pm
Google Inc compared to the US-centric Facebook, as its stable applications are culturally and geographically suited for Orkut users. Source: Daily News & Analysis: Money News | 1 May 2008 | 10:36 pm
Rakindo Developers will invest $5 billion in five years to launch five high-end township projects in tier II and tier III cities. Source: Daily News & Analysis: Money News | 1 May 2008 | 10:22 pm
Dabur India is reworking its strategy in soaps category, where it has a marginal presence, which could potentially see it exiting the category, a senior company executive said. Source: Daily News & Analysis: Money News | 1 May 2008 | 10:21 pm
These will make it easier for The Anil Ambani controlled company will use the Express Dial Solution for the service. Source: Daily News & Analysis: Money News | 1 May 2008 | 10:20 pm
On its part, Dow Chemicals has said the "issue has been thoroughly investigated and disciplinary action taken". Source: Business Standard | Front Page Headlines | 1 May 2008 | 6:43 pm
The Central Bureau of Investigation (CBI) will shortly send a letter rogatory to the US authorities to question Dow Chemicals, which was fined by a US district court after its subsidiary DE-Nocil was accused of paying bribes worth Rs 80 lakh to Indian officials to register banned pesticides in the Indian market. Source: Business Standard | Front Page Headlines | 1 May 2008 | 6:42 pm
Bucking the slowdown in the auto industry in 2007-08 leading carmakers Maruti Suzuki India and Hyundai Motor and two-wheeler giants Bajaj Auto and Hero Honda have recorded impressive year-on-year sales growth for April, the first month of the new financial year. Source: Business Standard | Front Page Headlines | 1 May 2008 | 6:42 pm
Currency swings leave companies vulnerable. ??Stung by the controversies on structured forex derivatives, bankers to the foreign currency convertible bond (FCCB) issues are now asking clients to take a hedge for such foreign currency risks. Source: Business Standard | Front Page Headlines | 1 May 2008 | 6:41 pm
