While speaking in Parliament a few weeks back, the Finance Minister blamed high crude prices as the primary reason for high inflation. But Montek Singh Ahluwalia, the Deputy Chairman of the Planning Commission says that crude is not the singular factor responsible for the spurt in Parliament. Source: Moneycontrol Top Headlines | 7 May 2008 | 5:27 pm
The government has filed a rejoinder to the objection over the government being made party to the RILRNRL KG Basin case. The government has said that any interim order on the KG Gas would affect national interest. The government has intervened to protect public interest and not take sides with any party. Source: Moneycontrol Top Headlines | 7 May 2008 | 4:52 pm
Mahindra Lifespaces is in the last stages of finalising four projects and each project is over 100 acres, reports CNBCTV18. Mahindra Lifespaces is not looking to dilute any stake currently. They may get a PE player for setting valuation benchmarks. Source: Moneycontrol Top Headlines | 7 May 2008 | 2:56 pm
Steel Producers said they are open to Rs 4,000/tone price cut only on certain conditions. They demanded a rollback of export duty on all categories of steel.They want 1520% ad valorem export duty on iron ore. Steel Producers will meet the Prime Minister later today. Source: Moneycontrol Top Headlines | 7 May 2008 | 2:13 pm
Jet Airways has put in place a USD 50 million cost cutting plan to combat ATF price hike, reports CNBCTV18. The plan will compensate 2530% of the ATF price hike. Jet Airways will incur an additional cost per annum of $210 million due to 3 ATF price hikes this year. Source: Moneycontrol Top Headlines | 7 May 2008 | 2:12 pm
Mercator Lines is close to buying two dry bulk vessels, reports CNBCTV18, quoting sources. The shipping major\'s vessels deal size is seen at USD 110 million. The company\'s Joint MD, Atul Agarwal has confirmed that they are looking for new building space, but said nothing has been finalized. Source: Moneycontrol Top Headlines | 7 May 2008 | 1:16 pm
The Telecom Regulatory Authority of India (TRAI) has said that it will look into the possibility of long distance carriers providing calling card, reports CNBCTV18. TRAI move could allow long distance service poviders to sell services directly to consumers. Source: Moneycontrol Top Headlines | 7 May 2008 | 12:42 pm
In a bid to grab larger market share, car manufacturer Fiat India plans to launch the CNG variant of its bread and butter model Palio in the country by early next year. Source: Daily News & Analysis: Money News | 7 May 2008 | 12:42 pm
MUMBAI (Reuters) - The JSW group and Japan's Toshiba Corp have lined up a $250 million joint venture to make and sell steam turbines and generators in India.
MUMBAI (Reuters) - The rupee fell to an 8-1/2 month low on Wednesday as record oil prices pushed up dollar demand from refiners, raising concerns of a widening trade deficit.
NEW DELHI (Reuters) - India is considering whether to supply rice to some of its neighbours after receiving requests from diplomats, but has no plans to ease export curbs on the staple any time soon, a top food ministry official told Reuters.
MUMBAI (Reuters) - Kotak Mahindra Asset Management launched on Wednesday an exchange traded fund (ETF) tracking India's benchmark index and said it plans to list the fund on the Bombay Stock Exchange by the end of May.
Autoline Industries Board will consider a 10% preference issue to Rakesh Jhunjhunwala, reports CNBCTV18, quoting sources. The Autoline Industries Board will meet today to consider the preferential allotment. Source: Moneycontrol Top Headlines | 7 May 2008 | 12:18 pm
L&T has moved the Supreme Court challenging the Delhi High Court's order that directed ONGC to consider Malaysia-based Ramunia Fabricators Sdn Bhds' bid. Source: Daily News & Analysis: Money News | 7 May 2008 | 12:08 pm
MUMBAI (Reuters) - Indian shares fell for a third day on Wednesday as top mobile operator Bharti Airtel extended losses on worries about a possible foreign purchase, but outsourcing firms rose as the rupee slid to an eight-month low.
LONDON (Reuters) - Improved risk appetite bolstered equities and the dollar on Wednesday, and pushed emerging market debt spreads to their narrowest levels this year .
The Indian Medical Association (IMA) Wednesday defended its decision to endorse Pepsico's brand of fruit juice, saying people will avoid aerated drinks if they consume it, but the director of the Centre for Science and Environment (CSE) Sunita Narain said it was 'very wrong' to endorse a particular brand. Source: IndiaeNews.com: Business News | 7 May 2008 | 11:31 am
Indian equities markets closed flat Wednesday due to sustained selling pressure on key sectoral indices. Capital goods, realty, banking and public sector undertaking stocks ended the day in the red. Source: IndiaeNews.com: Business News | 7 May 2008 | 11:31 am
The Industrial Development Bank of India Ltd (IDBI), a leading financial services firm, has changed its name to IDBI Bank Ltd from Wednesday. Source: IndiaeNews.com: Business News | 7 May 2008 | 11:31 am
MUMBAI/NEW DELHI (Reuters) - India is unlikely to soften its stance on agriculture at global trade talks and may even gamble on the negotiations stretching into next year when a new U.S. administration is in place, analysts say.
Tata Steel, along with Brazilian mining giant Vale and other partners, will undertake a major expansion of the Carborough Downs Coal Mine in Australia. Source: IndiaeNews.com: Business News | 7 May 2008 | 11:30 am
According to sources, Schroders will enter India for offshore products, mutual funds and PMS businesses, reports CNBCTV18. Schroders has filed with SEBI seeking a nod for the products. Schroders is yet to get the inprinciple approval; the nod may take four to six months. Source: Moneycontrol Top Headlines | 7 May 2008 | 11:25 am
The US-based heating, ventilation and air-conditioning (HVAC) firm Trane Inc launched its global design centre here to support the company's Indian market as well as its global research and development (R and amp;D) wing, said a top official. Source: IndiaeNews.com: Business News | 7 May 2008 | 11:01 am
A multinational venture capital fund has invested 'sizeably' in New Horizon Media (NHM), a closely held corporation having published over 650 books that have sold 250,000 copies, its co-founder K. Satyanarayan said here Wednesday. Source: IndiaeNews.com: Business News | 7 May 2008 | 10:30 am
India's leading private airline Jet Airways launched its service to Bangkok from Mumbai's Chhatrapati Shivaji International Airport early Wednesday. Source: IndiaeNews.com: Business News | 7 May 2008 | 10:30 am
NEW DELHI (Reuters) - Bharti Airtel's mooted African expansion will look to franchise a model that has made it the leader in the world's fastest-growing mobile market, and diversify its exposure from an increasingly tough Indian market.
The National Thermal Power Corporation's (NTPC) first 500 MW coal-fired unit of the controversy-marred 2,980 MW plant at Sipat in Chhattisgarh has started functioning following the restoration of water supply by the state government. Source: IndiaeNews.com: Business News | 7 May 2008 | 10:02 am
It was 'very wrong' for the Indian Medical Association (IMA) to have endorsed a particular brand of fruit juice, director of the Centre for Science and Environment (CSE) Sunita Narain said here Wednesday, as the endorsement of the Pepsico brand stirred a controversy. Source: IndiaeNews.com: Business News | 7 May 2008 | 10:01 am
MUMBAI (Reuters) - India's gold demand was moderate on Wednesday with higher prices on the back of a global rise and a locally weaker rupee damping early sales on Akshaya Tritiya day, dealers said.
As clients in the US finally give shape to their IT budget, some of the Indian service providers are exploring newer pricing models to ensure margins do not dip. Source: Moneycontrol Top Headlines | 7 May 2008 | 8:34 am
BANGKOK (Reuters) - Cyclone damage to rice crops and supplies in Myanmar's Irrawaddy delta and other areas may impair its ability to export an expected 600,000 tonnes of milled rice in 2008, the U.N. food agency said on Wednesday.
Bangalore, May 6 As clients in the US finally give shape to their IT budget, some of the Indian service providers are exploring newer pricing models to ensure margins do not dip.Tech Mahindra Ltd, a provider of IT solutions to the ... Source: Business Line - Home Page | 7 May 2008 | 12:00 am
Trustees of non-government provident funds, superannuation and gratuity funds may not be able to hold the Government responsible for their investments in equity shares going awry. As part of the draft revised pattern of investment, ... Source: Business Line - Home Page | 7 May 2008 | 12:00 am
It’s a mobile world: A man makes a call from a coin operated mobile phone of a fruit hawker at Ramalingeswara Nagar in Vijayawada. The rapid growth of mobile phones has led to more and more small-time traders and ... Source: Business Line - Home Page | 7 May 2008 | 12:00 am
Fresh long position can be initiated if the stock moves above Rs 1,840 level with tight stop-loss.L&TIn line with our expectation, the stock declined in the last trading session. We retain our sell ... Source: Business Line - Home Page | 7 May 2008 | 12:00 am
From a short-term perspective we recommend a buy in Hindustan Construction Company. It is evident from the charts that the stock had been on a medium-term sideways consolidation in the range of Rs 111 and Rs 140 (from mid March 2008 to early May ... Source: Business Line - Home Page | 7 May 2008 | 12:00 am
Jet Airways' code-sharing agreement with Brussels Airlines is likely to hit an air pocket should a proposed stake sale of the Belgian national carrier to German airline Lufthansa go ahead. Source: Daily News & Analysis: Money News | 6 May 2008 | 10:26 pm
Strong growth in its products business has helped banking software maker i-flex solutions report a 40% year-on-year increase in net profit for the March quarter at Rs 185 crore. Source: Daily News & Analysis: Money News | 6 May 2008 | 10:25 pm
It's a Herculean task finding skilled people to steer businesses. The problem is more acute in areas like clinical research, where domain knowledge is of utmost importance. Source: Daily News & Analysis: Money News | 6 May 2008 | 10:24 pm
The Aditya Birla Group has been slowly but steadily snaring some key hands for its financial services business, which includes life insurance, mutual funds and wealth management. Source: Daily News & Analysis: Money News | 6 May 2008 | 10:23 pm
Bankers are in two minds on whether to hike their deposit rates or cut them, since the Reserve Bank of India's monetary policy review last Tuesday. Source: Daily News & Analysis: Money News | 6 May 2008 | 10:19 pm
Blame it on market volatility or the huge growth piled on already, the life insurance industry grew just 23% in 2007-08, garnering a first business premium of Rs 93,000 crore. Source: Daily News & Analysis: Money News | 6 May 2008 | 10:19 pm
At a factory in Puducherry, another of India's sufficiency tales has been scripted. But this time, it's not food grains, nor pulses, nor spices. Source: Daily News & Analysis: Money News | 6 May 2008 | 10:18 pm
But, there is no ignoring the instrument's respectable returns, which are not only assured, but also tax-free and come with a government guarantee. Source: Daily News & Analysis: Money News | 6 May 2008 | 9:51 pm
The government is considering awarding a grant from the funds of the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) to meet a funding gap in the Mumbai metro project's first corridor that is being built by the Reliance Anil Dhirubhai Ambani Group (ADAG). Source: Business Standard | Front Page Headlines | 6 May 2008 | 6:49 pm
Tata Steel, the world's sixth-largest steel maker, is looking to acquire Brazilian iron ore assets of the UK-based London Mining (LM), which will help ensure raw material supply for its Anglo-Dutch subsidiary, Corus. Source: Business Standard | Front Page Headlines | 6 May 2008 | 6:47 pm
Gurumurthy may play peacemaker in cross-holding dispute. ??Engineering giant Larsen and Toubro (L&T) and Aditya Birla group firm Grasim Industries are set to settle their long-standing dispute over the sale of cross-holdings out of court. Source: Business Standard | Front Page Headlines | 6 May 2008 | 6:43 pm
Iraq on Monday signed two deals worth
USD 5 billion to buy 40 planes from Boeing and 10 planes from
Canada`s Bombardier to upgrade Iraqi Airways` aging fleet, the
Finance Minister said. Source: Zee News : Business | 6 May 2008 | 12:47 pm
The Bombay Stock Exchange benchmark
Sensex was down 63 points at 1030 hrs on Tuesday as investors
booked profits in sector-specific stocks amid steady to weak
global cues. Source: Zee News : Business | 6 May 2008 | 12:47 pm
Birla Sun Life Insurance Company
Ltd (BSLI)`s market share has increased to 6.6 per cent
amongst private life insurance players as on March 2008. Source: Zee News : Business | 6 May 2008 | 12:47 pm
The Asian Development Bank on Monday warned
that India`s foodgrain import could rise to 20 million tons by
2012 if adequate efforts were not taken to augment the output. Source: Zee News : Business | 6 May 2008 | 12:47 pm
The head of the Asian Development
Bank on Monday called for an "immediate response" to soaring food
prices which he said placed more than a billion Asians at risk
of malnutrition. Source: Zee News : Business | 6 May 2008 | 12:47 pm
World oil reached a new record
price above USD 120 a barrel on Tuesday as concerns over the United States economy eased, analysts said. Source: Zee News : Business | 6 May 2008 | 12:47 pm
Yahoo Inc chief Jerry Yang signalled a more open stance towards Microsoft Corp on Monday, saying he had been seeking common ground when the software maker abruptly ended deal talks. Source: Zee News : Business | 6 May 2008 | 12:47 pm
