Providence has invested USD 640 million in Idea Cellular\'s arm Aditya Birla Telecom. The transaction is subjected to regulatory nod and is expected to close by August 2008. Aditya Birla Telecom owns a licence for Bihar circle. It also holds 16% in Indus Towers. Source: Moneycontrol Top Headlines | 23 May 2008 | 5:05 pm
The new international airport in Bangalore is finally set to take off. The brand new airport will see its first flight landing from Mumbai at 21:45 tonight. And the first flight to take off will be early in the morning at five minutes past twelve. Source: Moneycontrol Top Headlines | 23 May 2008 | 5:00 pm
1,20,000 Indians have assets exceeding 1 million dollars and 13,000 new millionaires are added every year. With the millionaire population expected to grow at 19.3% annually, the yatch industry is quite clearly sailing on smooth waters. Source: Moneycontrol Top Headlines | 23 May 2008 | 4:37 pm
The stage is finally set for roll out of 3G services. Telecom Minister A Raja says guidelines for 3G auctions will be issued in June and that 3G services will be made available by the end of this year. Source: Moneycontrol Top Headlines | 23 May 2008 | 4:00 pm
The Indian crude oil basket is also at USD 129.08 per barrel almost at par with international crude prices. It will mainly impact the oil marketing companies and the upstream companies. Upstream companies because they will have to bear nearly onethird of the entire burden. Oil companies revenue loss is seen at nearly Rs 210,000 crore for FY09. Source: Moneycontrol Top Headlines | 23 May 2008 | 1:12 pm
LONDON (Reuters) - Oil rallied towards $133 a barrel on Friday, on a weaker dollar and as nagging concerns about stagnating production in Russia and other countries outside the OPEC group continued.
NEW DELHI (Reuters) Steel Minister Ram Vilas Paswan has urged the finance ministry to roll back an export tax recently imposed on steel products, after an industry body said the levy would squeeze profits and hamper expansion.
MOSCOW (Reuters) - Microsoft Corp Chief Executive Officer Steve Ballmer said on Friday the company had never seen buying Yahoo as strategic, and dropping the bid meant it now had $50 billion to spend on other acquisitions.
SINGAPORE (Reuters) - Singapore's inflation hit a 26-year high in April while Indian wholesale prices are surging, underlining a shift in priorities across Asia as policy makers focus on grappling with growing price pressures.
NEW DELHI (Reuters) - India's annual inflation rate remained at 7.8 percent in early May, data showed on Friday, but analysts were more interested in a revision that took the figure above 8 percent in March for the first time in 3-½ years.
Eyeing new business opportunities in defence to be provided by the Berlin Air Show, Defence Minister A.K. Antony Sunday embarks on a three day visit to Germany. Source: IndiaeNews.com: Business News | 23 May 2008 | 11:20 am
India's cabinet Friday raised the net amount available for the ambitious farmer loan waiver scheme to Rs.716.8 billion from the Rs.600 billion set aside when the announcement was made end-February. Source: IndiaeNews.com: Business News | 23 May 2008 | 9:30 am
For all of you applying for passports, here\'s some good news. The process could now be a lot less painful. That\'s because the country\'s largest software company Tata Consultancy Services is likely to take over this operation from the Ministry of External Affairs. Source: Moneycontrol Top Headlines | 23 May 2008 | 9:28 am
NEW DELHI (Reuters) - India on Friday expanded the scope and scale of an ambitious scheme to write off the debts of small farmers, saying it would now cost an additional 60 billion rupees ($1.4 billion) and cover three million more poor cultivators.
Indian electronic equipment recycling major Infotrek Syscom Ltd Friday announced that it has acquired European e-waste management technology for its subsidiary Eco Recycling ltd (Ecoreco). Source: IndiaeNews.com: Business News | 23 May 2008 | 9:02 am
NEW DELHI (Reuters) - India aims to issue guidelines for third-generation mobile (3G) and WiMAX networks by June and will allow foreign participation in them, telecoms minister Andimuthu Raja said on Friday.
Indian equities markets, which opened in the positive zone Friday, slipped into the red following release of government data that showed an inflation rate of 7.82 percent for the week ending May 10. Source: IndiaeNews.com: Business News | 23 May 2008 | 9:01 am
Era Infra Engineering Ltd (EIEL), a leading infrastructure company, Friday announced that it has bagged contracts worth Rs.835 million from Sahara India Commercial Corporation Ltd. Source: IndiaeNews.com: Business News | 23 May 2008 | 9:00 am
Real estate bottlenecks have led the Rs 637crore Trent Ltd to explore the franchisee model as it expands its Westside stores to tier 2 and tier 3 cities. Source: Moneycontrol Top Headlines | 23 May 2008 | 8:57 am
In response to the Prime Ministers announcement that 20 new Indian Institutes of Information Technology (IIITs) would be set up as part of the Eleventh FiveYear Plan, Nasscom, the countrys apex body of software companies, has presented a detailed project report to the Ministry of Human Resource Development (MHRD). Source: Moneycontrol Top Headlines | 23 May 2008 | 8:55 am
Gujarat State Petroleum Corporation (GSPC) has firmed up plans to set up a 7.5milliontonne LNG terminal in joint venture at the Adani groupmanaged Mundra port. GSPC will hold 50% controlling stake in the Rs 3,000crore project. The Adani group will pick up 25% participatory stake. The terminal is expected to be commissioned in 2012. Source: Moneycontrol Top Headlines | 23 May 2008 | 8:51 am
The HPEDS deal, at the global level, was a keenly followed one by the Indian investors, the interest stemming from EDS 60.9 per cent holding in MphasiS, which raised hopes of an open offer to the latters public shareholders. Source: Moneycontrol Top Headlines | 23 May 2008 | 8:50 am
NEW DELHI (Reuters) - India is set to raise petrol and diesel prices to keep pace with crude oil's record run but the move will fuel inflation, heaping more pressure on a government struggling to calm prices ahead of elections.
Crude oil prices on the country's leading commodity bourse Multi Commodity Exchange (MCX) fell sharply by 1.91 per cent taking cues from international market. Source: Daily News & Analysis: Money News | 23 May 2008 | 8:36 am
The Indian government is considering a hike in the prices of transport fuels to help petroleum marketing companies tide over the burden on account of crude oil topping $135 per barrel in international markets, top officials said. Source: IndiaeNews.com: Business News | 23 May 2008 | 7:00 am
A hike in petrol and diesel prices looks "inevitable" even though the increase may not be of the order of Rs 10 and 5 a litre respectively sought by the Petroleum Ministry. Source: Daily News & Analysis: Money News | 23 May 2008 | 6:50 am
The Indian equities markets which opened with a positive gap Friday registered modest early gains, with buying interest in key sectors. Source: IndiaeNews.com: Business News | 23 May 2008 | 5:30 am
US-based global IT services provider Kaseya will set up the world's first super network operating centre (NOC) in Bangalore by mid-June as part of its $10 million investment plan in India. Source: IndiaeNews.com: Business News | 23 May 2008 | 4:30 am
The new Indian consumer doing the rounds of the markets this season is a savvy shopper. He is educated, knows his brand and is ready to spend more on premium lifestyle products and entertainment. Source: IndiaeNews.com: Business News | 23 May 2008 | 2:31 am
Government on Thursday categorically
stated that there was no fuel rationing being resorted to in
wake of crude touching an all time high of USD 135 a barrel
and it was committed to ensure uninterrupted supplies. Source: Zee News : Business | 23 May 2008 | 12:10 am
Koito Manufacturing Co, the maker of headlamps for Lexus-brand cars, is designing lights specifically for ultra-low cost cars as it tries to win more business from India`s Tata Motors Ltd and Nissan Motor Co. Source: Zee News : Business | 23 May 2008 | 12:10 am
As oil prices reached a record USD 135 on Thursday, the government announced that it would be holding a review meeting on Friday with the heads of the Oil PSUs and as a part of its resistance strategy, may contemplate a possible hike of fuel prices across the country. An increase in fuel prices is among the remedial measures that the government is looking at to protect the interests of state-run oil marketing companies, the Petroleum Ministry stated. Source: Zee News : Business | 23 May 2008 | 12:10 am
Finance Minister P Chidambaram
on Thursday said he had asked for the withdrawal of the SBI circular on
stopping loans for purchase of tractor and other farm
equipments, as it was poorly worded and not justified. Source: Zee News : Business | 23 May 2008 | 12:10 am
OPEC head Abdalla Salem el-Badri
on Thursday 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 | 23 May 2008 | 12:10 am
Gold prices zoomed past the
crucial Rs 13,000 per 10 gram level in opening session here
on Thursday on brisk buying by stockists and jewellers backed by
firming global trends. Source: Zee News : Business | 23 May 2008 | 12:10 am
Time Warner Inc will completely split with Time Warner Cable Inc by the end of the year, and receive a USD 9.25 billion payout, to separate its media content and distribution businesses. Source: Zee News : Business | 23 May 2008 | 12:10 am
It is not just Bollywood stars
that are consumed with anxiety on Fridays, the time for new
movie releases; even Finance Minister P Chidambaram is gripped
by uneasiness on the day that sees release of inflation data. Source: Zee News : Business | 23 May 2008 | 12:10 am
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 | 23 May 2008 | 12:10 am
US-based Pepsico`s CEO Indra Nooyi`s
efforts to promote equality of women in business goes way
beyond designing a maternity deal, but when it comes to
choosing the American President she says only the best will do
regardless of gender or race. Source: Zee News : Business | 23 May 2008 | 12:10 am
New Delhi, May 22 India has signed a bilateral investment promotion and protection agreement (BIPA) with Brunei Darussalam here on Thursday. While the Union Finance Minister Mr P. Chidambaram signed the agreement on behalf of India, Mr ... Source: Business Line - Home Page | 23 May 2008 | 12:00 am
We recommend a sell in Bharat Forge from a short-term perspective. The stock had been on a medium-term uptrend between mid March and early May, from the trough at Rs 245. However, the stock encountered resistance at Rs 310 during early May and ... Source: Business Line - Home Page | 23 May 2008 | 12:00 am
The spectre of an intense cyclone is looming large again in the north Arabian Sea, with latest forecasts suggesting that the Gujarat coast in India and Sindh in Pakistan could be in the line of sight for a hit. The causative ... Source: Business Line - Home Page | 23 May 2008 | 12:00 am
Mumbai, May 22 US-based Providence Equity Partners has picked up 20 per cent stake in Aditya Birla Telecom (ABTL), a subsidiary of Idea Cellular, for $640 million (Rs 2,748 crore).ABTL owns a telecom licence for the Bihar service area ... Source: Business Line - Home Page | 23 May 2008 | 12:00 am
For all their simplicity, mutual funds are still not the most preferred mode of indirect investment in the stock market for retail investors. Unit linked insurance plans (Ulips) are. Source: Daily News & Analysis: Money News | 22 May 2008 | 10:27 pm
Trent Ltd, a retail initiative by the Tatas, will take the franchise route to foray into Tier II and Tier III cities. Source: Daily News & Analysis: Money News | 22 May 2008 | 10:16 pm
The idea is as exclusive as it gets: marque malls for marque brands, where the cognoscenti doesn't mingle with bargain-hunting rabble. Source: Daily News & Analysis: Money News | 22 May 2008 | 10:15 pm
But before you throw a party for your 'promotion', it might be a good idea to look a little closely at your increment letter. Source: Daily News & Analysis: Money News | 22 May 2008 | 10:15 pm
As part of this endeavour, we interviewed a number of teachers at various high schools in the (San Francisco) Bay Area. Source: Daily News & Analysis: Money News | 22 May 2008 | 10:15 pm
This is turning out to be a summer of contentment for the IT industry beginning with the extension of the sunset clause on the STPI scheme. Source: Daily News & Analysis: Money News | 22 May 2008 | 10:14 pm
Lakshmi Machine Works (LMW), a Coimbatore-based textile machinery maker, is setting up a manufacturing base in China to tap the market there. Source: Daily News & Analysis: Money News | 22 May 2008 | 10:14 pm
The specialty steel manufacturer also does not rule out further revisions if the input costs maintain an upward trend. Source: Daily News & Analysis: Money News | 22 May 2008 | 10:13 pm
A comprehensive package to deal with the impact of rising global crude oil prices is being considered by the government. Source: Business Standard | Front Page Headlines | 22 May 2008 | 7:15 pm
Videocon Industries plans a major consumer electronics retail foray across West Asia, Europe, Africa and Latin America under the brand name "VC" to raise global revenue shares from the current 2 per cent to 50 per cent by 2011. Source: Business Standard | Front Page Headlines | 22 May 2008 | 7:14 pm
The United Progressive Alliance government has made it clear to states that it will not permit them any relaxation in labour laws in special economic zones, petrochemical hubs and industrial parks such as easing norms for hiring and firing and employment of women and restricting union activity, among others. Source: Business Standard | Front Page Headlines | 22 May 2008 | 7:14 pm
