KLG Systel has won a big order. Kumud Goel, Managing Director, KLG Systel said that the company have won orders from Haryana and Rajasthan state governments, totaling to about Rs 50 crore. Source: Moneycontrol Top Headlines | 22 May 2008 | 5:52 pm
Ankit Patni, Joint MD, Rohit Ferro Tech said that the company has recently made a whollyowned subsidiary in Singapore known as SKP Overseas Private Limited. He told CNBCTV18 that they are looking out for acquisition of mines, which have reserves of manganese ore, chrome ore and iron ore. Source: Moneycontrol Top Headlines | 22 May 2008 | 4:32 pm
KV Kamath, MD, ICICI, has been appointed the new President of CII. He said, \"Our index is not right; index has not been recalibrated. So to reconstruct the index is primary and we need to do that first. Finally, according to me growth is strong and continues to be strong.\" Source: Moneycontrol Top Headlines | 22 May 2008 | 3:57 pm
Apar Industries will up stake in Uniflex Cables to nearly 50%, reports CNBCTV18, quoting sources. It currently holds 33.41% stake in it. The stake will be acquired from existing promoters. Apar Industries may also make an open offer for additional 20% in Uniflex Cables. Yes Bank is likely to be the advisor to the deal. Source: Moneycontrol Top Headlines | 22 May 2008 | 2:18 pm
The Trade Secretary has said that they may consider easing the rice export ban case by case. However, he said that there is no plan to completely lift export ban on rice. Source: Moneycontrol Top Headlines | 22 May 2008 | 1:32 pm
The US Federal Reserve on Wednesday sharply cut its growth forecast for 2008 but suggested it may halt a string of drastic rate cuts aimed at boosting the sagging US economy. Source: Zee News : Business | 22 May 2008 | 12:16 pm
IT services provider Infosys on Wednesday
said it would be hiring most of its engineers from the
top 250 engineering colleges in the country. Source: Zee News : Business | 22 May 2008 | 12:16 pm
Bilateral trade between
Russia and India is poised to touch USD 10 billion by
2010 as the two countries are jointly working to expand trade
activities, according to Blatislab V Antonyuk, Consul General
of the Russian Federation in Southern India. Source: Zee News : Business | 22 May 2008 | 12:16 pm
Oil smashed past USD 135 a barrel for the first time Thursday, continuing its astonishing rise following unexpected drops in US crude and gasoline
stocks in a tight market, dealers said. Source: Zee News : Business | 22 May 2008 | 12:16 pm
Firmly rejecting the contention that rising consumption in developing nations was responsible for the soaring food and fuel prices, India has
blamed the policies of World Bank and IMF and "excessive and unsustainable" demand in developed countries for the crisis. Source: Zee News : Business | 22 May 2008 | 12:16 pm
OPEC head Abdalla Salem el-Badri
on Wednesday said he was worried about volatility in the oil market
as prices soared through the historic 130 dollars level for
the first time. Source: Zee News : Business | 22 May 2008 | 12:16 pm
The Bombay Stock Exchange benchmark
Sensex on Thursday lost 274 points and dipped below 17k level in
early trade on major sell-off by funds, triggered by weak
global markets. Source: Zee News : Business | 22 May 2008 | 12:16 pm
The Indian equities market ended the day deep in red and fell below 17,000 mark amidst rising crude oil prices and mirroring weak global markets. Source: IndiaeNews.com: Business News | 22 May 2008 | 12:02 pm
India has not ruled out a possible fuel price hike, after international oil prices crashed through the $135 a barrel barrier in morning trade. Source: IndiaeNews.com: Business News | 22 May 2008 | 12:01 pm
Climate change is not just a threat but also a huge opportunity for green businesses in developing countries through the sale of carbon emission reductions (CER), a group of experts said here Thursday. Source: IndiaeNews.com: Business News | 22 May 2008 | 12:01 pm
Rajkot-based Atul Auto Ltd, a manufacturer of goods and passenger carriers, has decided to allot half a million equity shares of Rs.10 each at a premium on preferential basis to part finance its diversification plans. Source: IndiaeNews.com: Business News | 22 May 2008 | 12:00 pm
A leading trade and industry chamber Thursday said the State Bank of India (SBI) was forced to rethink its decision on tractor loans after political intervention, which it described as an unhealthy practice. Source: IndiaeNews.com: Business News | 22 May 2008 | 12:00 pm
Bank of Baroda on Thursday scotched speculation that its brand ambassador, Rahul Dravid, was being replaced, saying it was "happy" with him. Source: Daily News & Analysis: Money News | 22 May 2008 | 11:59 am
LONDON (Reuters) - Oil stormed to a new record above $135 a barrel, knocking world stocks to a one-month low on Thursday as concerns grew that rising raw material costs will hit corporates and consumers at a time of an economic slowdown.
Taiwan-based High Tech Computers launched a new smartphone in India in tie-up with Bharti Airtel and is aiming to sell 2.5 lakh phones this calender year. Source: Daily News & Analysis: Money News | 22 May 2008 | 11:49 am
NEW DELHI (Reuters) - India's Hindustan Petroleum Corp Ltd is in talks with its bankers to raise its borrowing limit as it needs more money to process costly crude oil and sell fuels cheaply, the firm's director for finance Bhaswar Mukherjee said.
Japanese auto major Nissan said it will start selling light commercial vehicles in India from 2010. Source: Daily News & Analysis: Money News | 22 May 2008 | 11:47 am
NEW DELHI (Reuters) - India's economy is likely to grow 8-9 percent this fiscal year despite signs of slowing industrial activity, while inflation will ease by the Oct-Dec quarter, a top adviser to the government said on Thursday.
MUMBAI (Reuters) - Indian shares fell nearly 2 percent on Thursday to their lowest close in more than a week as refiners buckled under mounting losses caused by soaring global oil and low state-set retail fuel prices.
Prices of essential commodities will come down in two months owing to huge production this year, a government official said Thursday. Source: IndiaeNews.com: Business News | 22 May 2008 | 11:20 am
Prime Minister Manmohan Singh's assessment that inflation will ease in India by September has found favour with experts who also feel the government must monitor the situation and chip in with more steps as and when required. Source: IndiaeNews.com: Business News | 22 May 2008 | 11:20 am
Sylph Tech has relisted at Rs 152. The last traded price before relisting was 80 paise. Rajesh Jain, Director of Sylph Technologies said that on the net worth basis, the stock price is Rs 89 per share and on the Earnings Per Share (EPS) basis; the stock is worth Rs 3. Source: Moneycontrol Top Headlines | 22 May 2008 | 11:20 am
Tea prices have firmed up to Rs 80 per kg after hitting bottom of Rs 60 per kg and prices are expected to rise further by the end of the year, says Deepak Khaitan, Executive Vice Chairman of Mcleod Russel. Source: Moneycontrol Top Headlines | 22 May 2008 | 11:12 am
MUMBAI (Reuters) - The Indian rupee backed away from its 13-½ month lows past 43 per dollar on Thursday with dealers saying state-run banks sold dollars heavily, likely on behalf of the central bank, around the 43.20 levels.
India's largest private mobile service provider Airtel Thursday announced its tie-up with Taiwan-based phone company HTC Corporation to offer a new smart phone which will have PC-like functionality. Source: IndiaeNews.com: Business News | 22 May 2008 | 10:37 am
LONDON (Reuters) - Oil sped to new peaks for a third straight day on Thursday to top $135 a barrel as investors fretted over long-term supply constraints and a big drop in U.S.
The government has eased cement export ban and will now allow selling it to Nepal, reports Newswire18. The Cement Companies can now sell cement to the SEZs (Deemed Exports) also, said the report. Source: Moneycontrol Top Headlines | 22 May 2008 | 10:26 am
Emirates, the international airline of the United Arab Emirates (UAE), plans to increase the frequency of its Dubai-Hyderabad flight to thrice a day. Source: IndiaeNews.com: Business News | 22 May 2008 | 10:03 am
NEW DELHI (Reuters) - A Bharti Airtel Ltd official on Thursday said there were no new developments in its talks with South African telecoms operator MTN Group that could create the world's sixth-largest mobile operator.
The Cabinet headed by Prime Minister Manmohan Singh may meet on Friday to consider raising petrol and diesel prices. Source: Daily News & Analysis: Money News | 22 May 2008 | 9:44 am
ROME (Reuters) - The world will see bumper harvests this year, but that might not be enough to protect the world's poorest countries from food bills four times higher than at the start of the decade, the United Nations forecast on Thursday.
MUMBAI (Reuters) - ICICI Bank's liquidity was comfortable despite monetary tightening measures, the chief executive of India's second-largest lender said on Thursday.
It\'s a double whammy for the hotel industry in Mumbai. While Raj Thackeray\'s recent anti migrant tirade is keeping North Indians employees away, the hotel industry\'s traditional South Indian employee base is staying away from mumbai too. This thanks to better opportunities back home. Source: Moneycontrol Top Headlines | 22 May 2008 | 9:14 am
NEW DELHI (Reuters) - The cabinet may meet on Friday to consider raising retail fuel prices in the wake of spiralling crude prices, a top government official said.
Industry body FICCI (Federation of Indian Chambers of Commerce and Industry) is knocking on the doors of the Finance Minister on behalf of the steel sector. Source: Moneycontrol Top Headlines | 22 May 2008 | 9:12 am
The Indian equities market extended their loss in the afternoon trade Thursday. All the key sectoral indices were under selling pressure. Source: IndiaeNews.com: Business News | 22 May 2008 | 8:32 am
Feeling the pinch because of the rising costs of fuel, Americans long used to gas guzzling vehicles with power and speed are steadily moving to smaller and energy efficient cars. Source: Daily News & Analysis: Money News | 22 May 2008 | 8:03 am
But with prices of fuel reaching $4 a gallon ($1.05 a litre), the city that defined auto-induced urban sprawl is starting to rethink its love affair with the car. Source: Daily News & Analysis: Money News | 22 May 2008 | 6:52 am
Thiruvananthapuram, May 21 The cyclone watch in the Arabian Sea may be off, but the causative circulation of nuisance value to the monsoon has managed to claw its way back to forecast charts. Latest European Centre for Medium-Range ... Source: Business Line - Home Page | 22 May 2008 | 12:00 am
Chennai, May 21 Western Union Services India (Pvt) Ltd, the money transfer company, finds about 60 per cent of its business emerging from rural areas and semi-urban pockets in India, Mr Anil Kapur, Managing Director, said. That is ... Source: Business Line - Home Page | 22 May 2008 | 12:00 am
Bank officials say they are unlikely to renew Dravid's contract as BoB's brand ambassador. Source: Daily News & Analysis: Money News | 21 May 2008 | 10:16 pm
Bajaj Fin Serv Limited, the umbrella company which comprises the financial services and wind farm businesses of Bajaj, is mulling an entry into the mutual fund business. Source: Daily News & Analysis: Money News | 21 May 2008 | 9:54 pm
National Insurance Company (NIC) is in the process of an elaborate overhaul of its business processes to take on competition in the deregulated general insurance market. Source: Daily News & Analysis: Money News | 21 May 2008 | 9:53 pm
With commissions from domestic airline ticket sales falling victim to lower fares over the past two years, online travel portals like Travelguru, Cleartrip, Yatra and Makemytrip are increasingly exploring non-airline business avenues like hotel bookings, car and bus rentals and holiday package tours to boost revenues. Source: Business Standard | Front Page Headlines | 21 May 2008 | 6:56 pm
Oil and Natural Gas Corporation (ONGC), the country's largest oil and gas producer, is planning to sell 30 to 40 per cent each in two blocks in Vietnam to share the risks and drilling costs. Source: Business Standard | Front Page Headlines | 21 May 2008 | 6:55 pm
Also considers distributing subsidised pulses. ??As part of steps to control inflation and augment availability of essential commodities, the government is considering re-allocating wheat in place of rice for the Targeted Public Distribution System (TPDS) and other welfare schemes. Source: Business Standard | Front Page Headlines | 21 May 2008 | 6:54 pm
Having created a furore over its decision to freeze lending for farm equipment, the State Bank of India, India's largest lender, today said it was lifting the ban two days after its decision became public. Source: Business Standard | Front Page Headlines | 21 May 2008 | 6:52 pm
