Nalco has hiked aluminium prices by Rs 8,000 per tonne, reports CNBCTV18, quoting agencies. The company says it has raised prices on strong LME trend, reports Newswire18. It sees aluminium prices averaging at USD 2,7002,900 per tonne in FY09. Source: Moneycontrol Top Headlines | 20 May 2008 | 6:07 pm
Educomp Solutions has acquired 51% stake in USAbased Learning.com for USD 24.5 million. Shantanu Prakash, MD said in FY09 Learning.com will do approximately USD 20 million in topline and about USD 5 million in bottomline, he said. Source: Moneycontrol Top Headlines | 20 May 2008 | 4:43 pm
Through it\'s subsidiaries, HSBC has acquired 73.21% stake in ILFS Investsmart. HSBC will be required to pay Rs 200 per share for the stake in ILFS Investmart at a total of about Rs 1,002 crore. HSBC has agreed to pay ILFS Rs 82 crore as a part of threeyear noncompete agreement. This fee works out to Rs 40 per share for ILFS. Source: Moneycontrol Top Headlines | 20 May 2008 | 4:34 pm
Tech Mahindra and Accenture would partner with British Telecom for USD1 billion deal, reports CNBCTV18, quoting sources. It will be the largest shareholder in the deal and would receive 70% of the JV business. The IT major would get a low margin, outsourcing business whereas Accenture would offer consulting services. Source: Moneycontrol Top Headlines | 20 May 2008 | 3:41 pm
Sources tell CNBCTV18 that Cyrus Poonawala\'s investment in Orchid Chemical is said to be financial in nature. Poonawalas companies have been investing in emerging opportunities in the past and Orchid is no different from that kind of an investment, though the Serum Institute had been having ambitions to raise funds to the primary market. Source: Moneycontrol Top Headlines | 20 May 2008 | 3:32 pm
The Kingfisher Management has said that it is confident of starting the international flights from August 27. As Deccan turns \'Five\' on August 26, it would be eligible to fly international. The Management is also hopeful of a legal merger of Kingfisher and Deccan by July \'08. Source: Moneycontrol Top Headlines | 20 May 2008 | 1:33 pm
US crude oil futures settled at a record level of above $127 a barrel on Monday after waffling during the day on global supply concern. Source: Daily News & Analysis: Money News | 20 May 2008 | 1:17 pm
Britain-based hotel chain InterContinental Hotels Group (IHG) will run the proposed 200 room, 75 suite Holiday Inn Estancia star hotel near Chennai. Source: IndiaeNews.com: Business News | 20 May 2008 | 1:01 pm
Microsoft's latest deal proposal to Yahoo envisages the internet portal selling off its valuable properties in Asia and Microsoft buying its search business in the US Source: Daily News & Analysis: Money News | 20 May 2008 | 12:55 pm
This should give Vikram Pandit, chief of the troubled Citigroup, something to smile about. Source: Daily News & Analysis: Money News | 20 May 2008 | 12:54 pm
Private sector carrier Jet Airways said it has entered into an agreement with the US-based United Airlines for codeshare and frequent flier programme benefits Source: Daily News & Analysis: Money News | 20 May 2008 | 12:52 pm
The confidence of a robust growth in the services sector is the highest in India among the four BRIC countries including Brazil, Russia and China, with none of the 1,400 respondents of a survey by a global consultancy anticipating any drop in revenues. Source: IndiaeNews.com: Business News | 20 May 2008 | 12:30 pm
NEW DELHI (Reuters) - Indian services firms are more optimistic about rising revenue and profits over the next 12 months than they were six months ago, and expect marketing and new products to boost revenue, a survey by KPMG showed.
MUMBAI (Reuters) - India's cotton production may rise to about 34.7 million bales in the year ending September 2009, a senior textile ministry official said on Tuesday.
British retailer Marks and Spencer said it plans to open upto 50 new stores in the country over the next five years. Source: Daily News & Analysis: Money News | 20 May 2008 | 12:04 pm
This should give Vikram Pandit, chief of the troubled Citigroup, something to smile about. The bank won most awards given to financial services providers for excellence in their advertising, collateral and digital media communication. Source: IndiaeNews.com: Business News | 20 May 2008 | 12:02 pm
SINGAPORE (Reuters) - India's inflation rate, which is at its highest in three and a half years, is totally unacceptable and the official data underestimates the actual rate of inflation, its central bank chief said on Tuesday.
With growing demand for higher lifestyle category products and increased affordability, the Fast Moving Consumer Goods (FMCG) industry is poised to clock a 16 percent growth in sales during 2008-09 compared to 14.5 percent in the last fiscal, an industry body projected Tuesday. Source: IndiaeNews.com: Business News | 20 May 2008 | 12:01 pm
Reliance Industries Limited (RIL) chairman Mukesh Ambani will be conferred Wednesday the Chitralekha Person of the Year 2007 award, instituted by the leading Gujarati weekly Chitralekha. Source: IndiaeNews.com: Business News | 20 May 2008 | 12:01 pm
The Indian equities market ended the day in the red tracking weak global markets and rising global oil prices. Source: IndiaeNews.com: Business News | 20 May 2008 | 12:00 pm
Saudi Arabia is in touch with Indian authorities seeking lifting of the ban on rice exports to the Gulf nation following shortage of the commodity. Source: Daily News & Analysis: Money News | 20 May 2008 | 11:58 am
MUMBAI (Reuters) - Indian shares fell 1.2 percent on Tuesday to their lowest in almost a week, led by heavyweight Reliance Industries and banks that dropped on concerns the Reserve Bank of India (RBI) may tighten policy to fight high inflation.
BRUSSELS (Reuters) - The European Commission called on India on Tuesday to go further with its plans to open up its economy to European exports under a planned bilateral trade deal between the two trade powers.
Engineering and construction major Larsen and Toubro (L&T) today said it has bagged Rs 635 crore worth electrical projects in the Gulf region. Source: Daily News & Analysis: Money News | 20 May 2008 | 11:20 am
TOKYO (Reuters) - Honda Motor Co expects its U.S. retail sales to rise 1.6 percent in the business year to March 2009, bucking a fall in overall industry demand thanks to its new vehicle launches, a top executive said on Tuesday.
Knowledge-based company and e-learning solution provider Educomp Solutions said Tuesday it has invested $24.5 million for acquiring 51 percent stake in US-based Learning.com, a provider of web-enhanced instruction. Source: IndiaeNews.com: Business News | 20 May 2008 | 11:03 am
Reliance Industries may sell gas from its eastern offshore KG-D6 block at a price higher than $ 4.20 per million British thermal unit to sectors other than power and fertilizer. Source: Daily News & Analysis: Money News | 20 May 2008 | 10:59 am
Telecom services provider Bharti-Airtel on Tuesday announced the launch of "Dial a Postpaid" for mobile users. Source: Daily News & Analysis: Money News | 20 May 2008 | 10:56 am
LONDON/BEIJING (Reuters) - Once a must-have ornament, platinum may be losing its appeal among China's jewellery-loving city dwellers after prices for the white precious metal struck lifetime highs on supply concerns.
ACC (Associated Cement Company) Management says that their margins are under tremendous pressure and the Q1 numbers are likely to be hit due to freeze on prices. The company is uncertain about future on account of squeeze in the margin. Source: Moneycontrol Top Headlines | 20 May 2008 | 10:46 am
Companies tired of hosting their conventions in hotels have turned to a new option: a spacious air-conditioned houseboat floating on the Kerala backwaters. Source: IndiaeNews.com: Business News | 20 May 2008 | 10:39 am
MUMBAI (Reuters) - India's Dr. Reddy's Laboratories Ltd on Tuesday reported a worse-than-expected 68 percent fall in quarterly profit after an exclusive marketing deal for a generic drug expired, sending its shares down 2.5 percent.
Ctrl S Data Centers Ltd, pioneer in Tier IV data center in India, has signed a memorandum of understanding (MoU) with IBM for marketing data centres across India. Source: IndiaeNews.com: Business News | 20 May 2008 | 10:36 am
India Bulls Retail plans to invest Rs1500 crore over the next one year. After taking over Pyramid Retail earlier this year India bulls is now in the process of expanding its retail network further. Four new formats will form the cornerstone of the India bulls\' plans. Source: Moneycontrol Top Headlines | 20 May 2008 | 10:11 am
MUMBAI (Reuters) - Indian gold prices moved higher on Tuesday in step with firm foreign markets, helped by a weaker rupee and diminishing demand in a buying season nearing its end, dealers said.
The Ministry of Corporate Affairs has been asked by Sebi to look into a complaint filed against Shyam Telelink. Promoters of Shyam are being accused by a group of minority shareholders of deliberately scuttling Telelinks IPO plans post the companies demerger. Source: Moneycontrol Top Headlines | 20 May 2008 | 9:39 am
Hoping to offset the projected two lakh crore rupees under recoveries this year, the OMCs wanted to freeze all new LPG connections, but they have found no takers for their plan. The OMCs are carrying on with this plan at least for now, even though it amounts to political harakiri in an election year. Source: Moneycontrol Top Headlines | 20 May 2008 | 9:25 am
SINGAPORE (Reuters) - The World Bank warned on Tuesday that it expects the cost of staple foods such as rice to stay high for years but said the world's food markets were intact and needed no intervention.
It may now be possible to bring down the cost of emulsified fuel and also reduce India's dependence on crude imports. Source: Daily News & Analysis: Money News | 20 May 2008 | 6:23 am
New Delhi, May 19 After Seychelles, Hatsun Agro Product Ltd is now planning to put up a manufacturing facility for its ‘Arun’ ice-cream in Fiji.“We hope to commission the plant by September. Just as in Seychelles, this ... Source: Business Line - Home Page | 20 May 2008 | 12:00 am
At the recently concluded Globoil International 2008 seminar in Dubai, the recurring theme was what would happen to the global vegetable oil market in the face of continued spikes in crude oil prices, support for biofuels, planting area ... Source: Business Line - Home Page | 20 May 2008 | 12:00 am
The onset phase of this year’s monsoon may likely feature a cyclone in the west Arabian Sea, with the European Centre for Medium-Range Weather Forecasts (ECMWF) expecting a yet-to-be-born rogue circulation to spin up to class-matching ... Source: Business Line - Home Page | 20 May 2008 | 12:00 am
Chennai, May 19 The Indo-US nuclear deal is “down to the last days”, says Mr David Mulford, the US Ambassador in India. Mr Mulford said today that if the Indian side does not come up with a decision to go ahead with the deal ... Source: Business Line - Home Page | 20 May 2008 | 12:00 am
Mumbai, May 19 Smaller investors may now find it difficult to get portfolio management services (PMS), with the market regulator SEBI last week disallowing pooling of resources by the portfolio manager.SEBI’s directive raises the ... Source: Business Line - Home Page | 20 May 2008 | 12:00 am
When External Affairs Minister Pranab Mukherjee and his officers board the flight to Pakistan this Tuesday, their luggage will include four-CD audio sets titled "Bollywood: 60 years of Romance". Source: Business Standard | Front Page Headlines | 19 May 2008 | 6:39 pm
In what may be a sign of the changing political environment ahead of general elections, the Centre has turned down the Maharashtra government's proposal to provide labour law flexibility in special economic zones. Source: Business Standard | Front Page Headlines | 19 May 2008 | 6:39 pm
Move may face political reaction, say other banks.??Worried over rising defaults on loans for new tractors and combine harvesters, State Bank of India (SBI) has decided to put a temporary freeze on fresh credit to buy such farm equipment. Source: Business Standard | Front Page Headlines | 19 May 2008 | 6:38 pm
