Sun Pharma has received notice for termination of merger with Taro, reports CNBCTV18. The Indian drug major holds 34.4% in Taro. Earlier, it had agreed to buy Taro for $454 million in May 2007. Source: Moneycontrol Top Headlines | 28 May 2008 | 6:08 pm
It\'s a fact that Oil Marketing Companies or the OMCs are borrowing heavily from the banking system for their working capital needs. This will have an impact on the money supply and therefore put pressure on interest rates to rise. Source: Moneycontrol Top Headlines | 28 May 2008 | 4:40 pm
The government has eased ban on cement exports from the ports in Gujarat. Earlier in April, the government had banned cement exports in its bid to rein in rising inflation. It has also allowed exports to SEZs and Nepal in the last week. Source: Moneycontrol Top Headlines | 28 May 2008 | 1:54 pm
LONDON (Reuters) - British Prime Minister Gordon Brown warned on Wednesday there was no easy answer to spiralling oil price rises without coordinated global action, before meeting senior oil executives to discuss supply and demand.
NEW DELHI (Reuters) - BlackBerry-maker Research In Motion is set to meet Indian government officials on Thursday to address security concerns, but analysts say an amicable solution would be difficult.
JAKARTA (Reuters) - Indonesia will quit the Organization of the Petroleum Exporting Countries because as a net oil importer it is not happy with high global crude prices, the energy minister said on Wednesday.
The Finance ministry Wednesday said no new proposal in the form of an income tax surcharge was being considered to bail out state-run oil marketing companies, reeling under high global crude oil prices. Source: IndiaeNews.com: Business News | 28 May 2008 | 12:13 pm
The city-based Indian Overseas Bank (IOB) has started offering permanent account number (PAN) card and other services on Tax Information Network (TIN) after tying up with Alankit Assignments Ltd, New Delhi. Source: IndiaeNews.com: Business News | 28 May 2008 | 12:13 pm
Jharkhand traders shut their shops Wednesday to protest against the provisions of the Essential Commodities (EC) Act and worsening law and order situation in the state. Source: IndiaeNews.com: Business News | 28 May 2008 | 12:12 pm
SREI Sahaj e-village, a wholly owned subsidiary of SREI Infrastructure Finance Limited, plans to invest Rs.10 billion over two years to set up a rural IT infrastructure project spread over six states. Source: IndiaeNews.com: Business News | 28 May 2008 | 12:01 pm
NEW DELHI (Reuters) - Raising interest rates is not the best way to curb inflation and calming soaring prices by doing so would have serious consequences for growth, an adviser to the finance minister said on Wednesday.
NEW DELHI (Reuters) - State-run refiner and retailer Indian Oil Corp's planned refinery and petrochemical project in Orissa will now cost up to 450 billion rupees ($10.5 billion), up from the earlier estimate of 260 billion rupees, a senior official said on Wednesday.
NEW DELHI (Reuters) - State-run refiner and retailer Indian Oil Corp will only be able to afford to buy crude at the current sky-high rates up until the end of September, company chairman S. Behuria said on Wednesday.
Mumbai-based Zoom Developers has won a contract from Indian Railway Catering and Tourism Corporation (IRCTC) to develop three budget hotels at a proposed investment of Rs.1 billion. Source: IndiaeNews.com: Business News | 28 May 2008 | 11:40 am
Come June 1 and airlines around the world will switch to near 100 percent e-ticketing though small quantities of the paper variety will continue to be issued. Source: IndiaeNews.com: Business News | 28 May 2008 | 11:40 am
Tata Motors Ltd will raise Rs.72 billion ($1.70 billion) through three rights issues, followed by another $500-600 million issue of securities in foreign markets to finance the prestigious Jaguar-Land Rover deal, which will soon be acquired at a price of $2.3 billion. Source: IndiaeNews.com: Business News | 28 May 2008 | 11:39 am
The Indian equities market ended a four-day losing streak Wednesday, with the Sensex surging almost 250 points. The rally was led by banking, telecom and metal stocks. Source: IndiaeNews.com: Business News | 28 May 2008 | 11:39 am
BANGALORE (Reuters) - Indian shares snapped a four-day slide and rose 1.5 percent on Wednesday, but traders were not convinced about the strength of the recovery because of worries about rising inflation and slowing growth.
Learning solutions company Aptech Ltd Wednesday announced the launch of N-Power, a specialized hardware and networking training centre, in this Orissa capital. Source: IndiaeNews.com: Business News | 28 May 2008 | 11:31 am
Unitech will sign a shareholder pact with Lehman Brothers for private equity deal next week, reports CNBCTV18. Sources said that Lehman will invest in two projects of Unitech in Mumbai. However Unitech Management had declined to comment on this. Source: Moneycontrol Top Headlines | 28 May 2008 | 10:52 am
Indian telecom major Tata Communications has entered into a Memorandum of Understanding (MoU) with the United Arab Emirates (UAE) based telecom services provider Etisalat. Source: Daily News & Analysis: Money News | 28 May 2008 | 10:10 am
Anil Dhirubhai Ambani Group firm Reliance Money announced its foray into Hong Kong and China with the launch of a bouquet of financial services for retail investors in these markets. Source: Daily News & Analysis: Money News | 28 May 2008 | 9:51 am
There could be another hostile takeover in the hospitality industryin the making and this time round its in Goa. The acquirer Delta Hospitality is a subsidiary of listed company Arrow Webtex which has a market cap of Rs 715 crore. Source: Moneycontrol Top Headlines | 28 May 2008 | 9:43 am
The cabinet has given an inprinciple approval to carve out a new department of pharmaceuticals under the Ministry of Chemicals and Fertilisers. While the industry has welcomed the move, it is disappointing that there is no plan to give it regulatory autonomy. Source: Moneycontrol Top Headlines | 28 May 2008 | 9:18 am
Media and entertainment company, Compact Disc India Ltd (CDI) on Tuesday said it has inked a deal with Golden Games Pte. Ltd, as part of which CDI has transferred IP rights of an animated character Joker to the Singaporebased company. Source: Moneycontrol Top Headlines | 28 May 2008 | 8:38 am
The Telecom Regulatory Authority of India (TRAI) has cautioned the Department of Telecom against taking any decision on policy matters without consulting it. Source: Moneycontrol Top Headlines | 28 May 2008 | 8:34 am
Gujarat NRE Coke Ltd, which is increasing coal production at its mines in Australia, is planning to acquire halfadozen bulk carriers to bring coal to India. Source: Moneycontrol Top Headlines | 28 May 2008 | 8:27 am
Tyre cord maker SRF Ltd on Tuesday announced acquisition of Thai Baroda Industries Ltd (TBIL), a Thailandbased tyre cord company with an annual production capacity of approximately 12,000 tonnes of dipped nylon tyre cord fabric and annual sales of around $50 million. Source: Moneycontrol Top Headlines | 28 May 2008 | 8:22 am
NEW DELHI (Reuters) - The Finance Ministry said in a statement on Wednesday that some media reports about new tax proposals to help ease mounting losses at state oil firms due to soaring crude prices were "totally baseless".
Rising international crude price has made the movement of goods in and out of India to the US and Europe costlier by 60 and 35 per cent, respectively. Source: Business Standard | Front Page Headlines | 28 May 2008 | 12:22 am
Proposal discussed at Deora-Chidambaram meet on Tuesday. ??The government may levy a cess on income tax and corporate tax to part-fund the oil subsidy bill, which is projected to balloon to Rs 235,000 crore this year, three times last year's figure, owing to rising crude oil prices. Source: Business Standard | Front Page Headlines | 28 May 2008 | 12:20 am
In line with our expectation, the stock declined in the last trading session. We maintain our sell recommendation in this stock. Infosys The outlook is cautious for the stock. Avoid initiating buy or sell ... Source: Business Line - Home Page | 28 May 2008 | 12:00 am
Mumbai, May 27 Foreign institutional investors (FIIs) have been net sellers on Indian bourses since May 20. Including Tuesday’ provisional selling data of Rs 496.61 crore, their total (net) selling stood at Rs 3,594 crore in the cash ... Source: Business Line - Home Page | 28 May 2008 | 12:00 am
All eyes were riveted on the rupee as the currency slid below the Rs 43-mark last Friday. But the decline was arrested thanks to a bout of profit-booking in crude prices that dragged the commodity lower from the peak at $135.The relief ... Source: Business Line - Home Page | 28 May 2008 | 12:00 am
Chetan Ahya, managing director and India & south-east Asia economist at Morgan Stanley says the government has very few options in tackling the oil price hike Source: Daily News & Analysis: Money News | 27 May 2008 | 10:18 pm
Arun Sarin's impeccably timed resignation, when he's on top with Vodafone firing on all engines, has given him a stature few Indian honchos can equal. Source: Daily News & Analysis: Money News | 27 May 2008 | 10:12 pm
The mess at Delhi International Airport (DIAL) is now under the scrutiny of none other than the cabinet secretary. Source: Daily News & Analysis: Money News | 27 May 2008 | 10:07 pm
Emaar MGF Land Ltd, the joint venture firm of Dubai real estate giant Emaar and the New Delhi-based MGF Development, will invest about $3.7 billion Source: Daily News & Analysis: Money News | 27 May 2008 | 10:06 pm
Have you been traditionally investing in fixed deposits (FDs), an instrument your mother and grandmother may have been parking their surplus money in? Source: Daily News & Analysis: Money News | 27 May 2008 | 10:05 pm
2007 was the year that saw highest-ever inflows from foreign institutional investors (FIIs). 2008 may just see the highest outflows. Source: Daily News & Analysis: Money News | 27 May 2008 | 10:04 pm
Take the tax provisions related with loans for purchase of a housing property. Over time, there have been so many alterations and revisions to the laws Source: Daily News & Analysis: Money News | 27 May 2008 | 10:03 pm
The survey, which excluded the top 30 B-schools, found that the vast majority of the faculty members were not aware of basic facts about the global economy Source: Daily News & Analysis: Money News | 27 May 2008 | 9:57 pm
