Magma Shrachi Finance has tied up with three auto majors for providing financing for vehicles and construction equipments. Sanjay Chamria, ViceChairman and Managing Director, Magma Shrachi Finance said the personal loans that they have decided to launch is going to give them higher yield as compared to their asset financing product. Source: Moneycontrol Top Headlines | 27 May 2008 | 3:13 pm
Sita Shree Food Products has received 400 metric tonne order from Reliance Fresh. The order is to deliver wheat flour and pulses. Dinesh Agarwal, Managing Director of Sita Shree Food Products said that the company will earning around Rs 4 crore to Rs 5 crore in 200809, and we expect Rs 8 crore to Rs 10 crore in 200910. Source: Moneycontrol Top Headlines | 27 May 2008 | 2:46 pm
India Star Fund will be selling stake in Radha Madhav. It plans to sell nealry 3.5 lakh shares via block deal in last two trading sessions. Source: Moneycontrol Top Headlines | 27 May 2008 | 2:40 pm
Union Minister of Fertilisers and Chemicals Ram Vilas Paswan has announced the FY09 fertiliser subsidy seen at Rs 95,013 crore. US Jha, CMD, Rashtriya Chemicals and Fertilizers (RCF), expects the subsidy to be given out in cash as bonds are long term and if sold, go at heavy discounts. Source: Moneycontrol Top Headlines | 27 May 2008 | 1:38 pm
Puneet Garg, President, Reliance Globalcom, said Vanco has revenues of USD 300 million and is a profit making entity. According to Garg, the acquired company will start contributing to Reliance Communications\' financials from this year itself. Source: Moneycontrol Top Headlines | 27 May 2008 | 1:37 pm
Union Minister of Fertilisers and Chemicals Ram Vilas Paswan said the FY09 fertiliser subsidy is seen at Rs 95,013 crore, reports CNBCTV18, quoting Newswire18. Urea import for the period under review is seen at 6.5 million tonne as against 6.9 million tonne. Source: Moneycontrol Top Headlines | 27 May 2008 | 1:20 pm
Jindal Drilling may list Singapore Special Purpose Vehicles (SPVs) Discovery and Virtue Drilling, reports CNBCTV18 quoting sources. Jindal Drilling will form a holding company and will bring both SPVs under it, sources say. Jindal Drilling will raise nearly USD 100 million by selling 10% in the holding company. Source: Moneycontrol Top Headlines | 27 May 2008 | 12:19 pm
REUTERS - Asian rice prices have almost trebled to their highest ever this year and prices on the Chicago Board of Trade rose by as much as 80 percent as export restrictions by leading suppliers fuelled insecurity over food supplies.
There could soon be a separate exchange for small and medium enterprises. Market regulator SEBI has released a discussion paper proposing such a move. Source: Moneycontrol Top Headlines | 27 May 2008 | 9:28 am
Vodafone CEO Arun Sarin has stepped down officially. According to the Daily Telegraph and Financial Times, the CEO was supposed to announce his departure from the company after 5 years. He will step down in July and will be replaced by Vittorio Colao. Colao has been Vodafone\'s Deputy Chief Executive since September 2006. Source: Moneycontrol Top Headlines | 27 May 2008 | 9:05 am
Volvo buys 8.1% in Eicher Motors. Swedish multinational AB Volvo and Eicher Motors Ltd (EML) on Monday sealed their joint venture deal to make trucks in India and in the process sent the latters stock soaring. The deal doubles the current stock market valuation of EML, with the promoters selling a part of their stake at Rs 691.68 per share. Source: Moneycontrol Top Headlines | 27 May 2008 | 8:57 am
SINGAPORE (Reuters) - Gold rose on Tuesday as further supply disruptions in Nigeria, the world's eighth-largest oil producer, and a weaker dollar made the precious metal increasingly attractive.
HONG KONG (Reuters) - Asian stocks rebounded on Tuesday from the previous day's dip, as bargain hunters scoured the market after five days of losses, though rising inflation and high oil prices kept investors cautious.
TOKYO (Reuters) - Japan's Nikkei stock average rose 1.5 percent on Tuesday, rebounding sharply from a two-week closing low hit the previous day, with stocks that had fallen sharply such as Canon Inc and banks regaining ground.
Vodafone announced that Arun Sarin is stepping down as its CEO and would be replaced by his deputy Vittorio Colao on July 29. Source: Daily News & Analysis: Money News | 27 May 2008 | 7:16 am
A cess or surcharge on income tax and corporate tax may be levied to bail out oil firms reeling under high global oil prices as Petroleum Ministry's proposal to raise prices. Source: Daily News & Analysis: Money News | 27 May 2008 | 7:13 am
LONDON (Reuters) Vodafone Group Chief Executive Arun Sarin is to stand down in July after five years in charge, the company said on Tuesday, as it hit forecasts for annual revenues and earnings and issued a solid outlook for 2009.
BANGALORE (Reuters) - Indian shares rose on Tuesday, led by Reliance Industries and bolstered by strong regional markets, but traders were uncertain about the sustainability of the gains amid rising inflation and high oil prices.
Sensex rose over 130 points in early trade on Tuesday on emergence of buying by funds at existing lower levels and firming trends at Asian markets. Source: Daily News & Analysis: Money News | 27 May 2008 | 5:57 am
NEW YORK (Reuters) - The majority of small business owners think the U.S. economy is getting worse, though sentiment showed some improvement in May from its recent lows, according to a survey released on Tuesday.
MUMBAI (Reuters) - A proposed deal between South Africa's MTN Group and Reliance Communications may result in a transfer of Chairman Anil Ambani's two-thirds stake in the Indian firm to MTN, the Economic Times said on Tuesday, citing sources.
MUMBAI (Reuters) - The partially convertible rupee weakened in early deals on Tuesday weighed down by dollar buying by oil refiners to meet month-end commitments.
SINGAPORE (Reuters) - Oil was little changed at around $133 a barrel on Tuesday after news of another attack on Nigerian oil facilities refocused concerns on immediate supplies.
Thiruvananthapuram, May 26 Threat of a cyclone in the Arabian Sea seems to have blown over, and the causative ‘low’ will now act as an important cog in the wheel for the incoming monsoon caravan. Easterly vertical wind ... Source: Business Line - Home Page | 27 May 2008 | 12:00 am
We recommend a sell in Central Bank of India from a short-term perspective. It is evident from the charts that the stock has been on an intermediate-term downtrend from its 52-week-high of Rs 154 recorded in early January 2008. However, after ... Source: Business Line - Home Page | 27 May 2008 | 12:00 am
Hyderabad, May 26 The Union Government would announce the much-awaited minimum support price (MSP) for paddy for this kharif season soon. Talking to newspersons on the sidelines of a national conference of the Ministers of Agriculture here on ... Source: Business Line - Home Page | 27 May 2008 | 12:00 am
New Delhi, May 26 For the first time since the controversy around BlackBerry broke out, Canada-based Research In Motion has broken its silence on the security concerns raised by the Indian Government and said that it is not possible for it to ... Source: Business Line - Home Page | 27 May 2008 | 12:00 am
After losing out to private sector competitors since getting its broking license seven years ago, State Bank of India is getting its act together in the broking business. Source: Daily News & Analysis: Money News | 26 May 2008 | 10:17 pm
The income-tax department in Mumbai appears to be reversing the finance ministry's efforts to simplify the filing of tax returns. Source: Daily News & Analysis: Money News | 26 May 2008 | 9:44 pm
What a coincidence. Two global commercial vehicle leaders - Volvo and Nissan - chose the same day to announce the formation of their Indian subsidiaries Source: Daily News & Analysis: Money News | 26 May 2008 | 9:38 pm
ITC's business - tobacco or otherwise - seems to be wrapped in dark clouds, at least for the time being. Source: Daily News & Analysis: Money News | 26 May 2008 | 9:37 pm
Atom Technologies, a 100% subsidiary of Financial Technologies, is betting on some serious bucks coming its way through proprietary mobile phone-based transaction systems. Source: Daily News & Analysis: Money News | 26 May 2008 | 9:36 pm
Taj GVK Hotels & Resorts has lined up investments worth over Rs 500 crore in its existing and new properties in south India over the next two-three years. Source: Daily News & Analysis: Money News | 26 May 2008 | 9:35 pm
Yes, there is a way to protect your family members and yourself from your credit card bills in case of death or permanent disability. Source: Daily News & Analysis: Money News | 26 May 2008 | 9:34 pm
State Bank of India (SBI), the country's largest bank, is likely to pocket an entry premium of over Rs 400 crore to tie up with Insurance Australian Group (IAG), the highest in the insurance business so far. Source: Business Standard | Front Page Headlines | 26 May 2008 | 6:47 pm
The growth of organised retail headed by large corporations does not significantly impact small mon-n-pop retailers, a long-awaited study by the Indian Council for Research on International Economic Relations (Icrier) concluded. Source: Business Standard | Front Page Headlines | 26 May 2008 | 6:46 pm
Despite the slowdown and turmoil in financial markets, private sector employees have received or can look forward to an average salary increase of 15 per cent this year, roughly the same as the year before but lower in real terms because of the inflation rate, which is ruling at 8 per cent. Source: Business Standard | Front Page Headlines | 26 May 2008 | 6:45 pm
Oil rose towards USD 133 a barrel on Monday, extending the previous session`s gains, due to a supply outage at the large Statfjord oilfield in the North Sea and a weak US dollar. Source: Zee News : Business | 26 May 2008 | 12:05 pm
Tracking weak global cues, the
stock markets continued their downward movement with the BSE
benchmark Sensex losing about 233 points in the morning trade
on Monday. Source: Zee News : Business | 26 May 2008 | 12:05 pm
Anil Ambani Group company Reliance Communications is likely to emerge a front runner to acquire UK-based Global Virtual Network Operator Vanco, a move that would bring under Indian company`s fold a virtual network in various parts of the world. Source: Zee News : Business | 26 May 2008 | 12:05 pm
The prices of crude oil on futures
market on Monday surged 2.66 per cent in the early trade tracking
firm Asian market. Source: Zee News : Business | 26 May 2008 | 12:05 pm
Rahul Bajaj led-Bajaj Auto on Monday
listed at Rs 945 while Bajaj Finserv at Rs 700 on the Bombay
Stock Exchange following the demerger of Bajaj Group last
year. Source: Zee News : Business | 26 May 2008 | 12:05 pm
Commercial vehicle manufacturer
Eicher Motors on Monday said its board has approved the draft
agreement to form a joint venture with Swedish truck major AB
Volvo. Source: Zee News : Business | 26 May 2008 | 12:05 pm
Anil Ambani Group company
Reliance Communications on Monday announced entering into an
exclusive negotiations with South Africa`s telecom giant MTN
to discuss potential combination of their businesses. Source: Zee News : Business | 26 May 2008 | 12:05 pm
