Turkey is the latest base for Mahindra and Mahindras globalisation plans. The company may set up a manufacturing base in turkey for its domestic and other European markets. And this move was after the company launched the Scorpio and its Pikup in Turkey. Source: Moneycontrol Top Headlines | 31 May 2008 | 2:13 pm
The government has said that it consider taking steps to control exports of iron ore, reports Newswire 18. The export duty on steel products is only a \'temporary measure\'. Although the steel prices are easing the overseas trend looks firm, said the report. Source: Moneycontrol Top Headlines | 31 May 2008 | 1:51 pm
Sterlite Ind will buy US based ASARCO\'s operating assets for USD 2.6 billion, reports CNBC18. Source: Moneycontrol Top Headlines | 31 May 2008 | 1:28 pm
From Sunday, India`s commercial aircraft will not have foreign co-pilots on board. This will open fresh opportunities for thousands of aspiring pilots in the airline industry, said a government official. Source: Zee News : Business | 31 May 2008 | 12:18 pm
MUSCAT (Reuters) - A unit of Indian group Zoom Developers plans to build a $130 million plant for aluminium products near Oman's port of Sohar, an Indian embassy official said on Saturday.
India is likely to emerge as a global petroleum refining hub in the next few years, Essar Oil CEO and managing director Naresh Nayar said here. Source: Daily News & Analysis: Money News | 31 May 2008 | 10:23 am
Tata Steel on Saturday said that it would raise the production capacity of its Jamshedpur plant to 10 million tons per annum from 6.8 million tons at present. Source: Daily News & Analysis: Money News | 31 May 2008 | 10:03 am
Sterlite Industries (India), a subsidiary of Vedanta Resources PLC, said that it will buy the operating assets of Tucson-based Asarco LLC, for USD 2.6 billion in cash. Source: Daily News & Analysis: Money News | 31 May 2008 | 9:41 am
India is likely to emerge as a global petroleum refining hub in the next few years, Essar Oil CEO and managing director Naresh Nayar said here. Source: IndiaeNews.com: Business News | 31 May 2008 | 9:31 am
Making a strong case for freeing micro and small enterprises, Finance Minister P Chidambaram reminded the banks that they are duty-bound to lend to the sector. Source: Daily News & Analysis: Money News | 31 May 2008 | 9:19 am
The Ahmedabadbased pharmaceuticals major Cadila Healthcare Ltd (Zydus Cadila), on Friday announced its foray into Spain with the acquisition of 100 stake in Laboratorios Combix for an undisclosed financial consideration. Source: Moneycontrol Top Headlines | 31 May 2008 | 8:25 am
Emami Ltd on Friday bought out the entire stake of the Vaidya family, one of the two promoter groups, in Zandu Pharmaceutical Works Ltd. Source: Moneycontrol Top Headlines | 31 May 2008 | 8:21 am
Bongaigaon Refinery and Petrochemicals Ltd (BRPL) may go for higher capacity utilisation by using imported crude following merger with parent IndianOil. Proposals for capacity escalation may also be considered. The merger proposal is already approved by the shareholders of both the companies and is now awaiting clearance from the Union Government. Source: Moneycontrol Top Headlines | 31 May 2008 | 8:15 am
There seems to be a disconnect between the Department of Telecom and the employees union of Bharat Sanchar Nigam Ltd on the latters IPO plans. Source: Moneycontrol Top Headlines | 31 May 2008 | 8:11 am
NEW DELHI/MUMBAI (Reuters) - India's Sterlite Industries on Saturday agreed to buy the operating assets of bankrupt copper miner Asarco for $2.6 billion, the latest in the series of overseas acquisitions by Indian firms.
Soaring crude oil prices and its possible impact on domestic fuel prices kept pulling Indian equity markets down this week. Three out of five trading sessions ended in the red. Source: IndiaeNews.com: Business News | 31 May 2008 | 7:31 am
The proposed Kannur airport in north Kerala will be developed on Build, Operate and Own (BOO) model with the state government holding 26 per cent stake in the venture. Source: Daily News & Analysis: Money News | 31 May 2008 | 7:05 am
NEW DELHI (Reuters) - India's economy will grow at a pace not less than 8.5 percent in the 2008/09 fiscal year, and "with some luck" at 9 percent, the same clip as the year before, Finance Minister Palaniappan Chidambaram said on Friday.
From June 1, India's commercial aircraft will not have foreign co-pilots on board. This will open fresh opportunities for thousands of aspiring pilots in the airline industry, said a government official. Source: IndiaeNews.com: Business News | 31 May 2008 | 6:00 am
NEW YORK (Reuters) - If the jobs report and other economic releases confirm the past week's decent numbers and if oil doesn't throw a wrench in the works, stocks could start June on a strong note.
FREEPORT, Texas (Reuters) - Armed guards, some with machine guns, watch over a patch of earth near the Texas Gulf Coast, a site unremarkable except for a few gray metal wellheads poking up through the surface.
NEW DELHI (Reuters) - Surprisingly strong Indian growth and a jump in inflation above 8 percent put an interest rate rise back on the agenda on Friday, although many analysts thought the Reserve Bank of India would remain focused on cash management.
MONTREAL (Reuters) - Former U.S. Federal Reserve Chairman Alan Greenspan said on Friday that he does not expect another "bubble" in world markets for a long time, and that central banks at any rate do not control the long-term interest rates that can be related to bubbles.
If anyone presumed that newbie airports only in India send the shivers up the back of air travellers, perish the thought. Hyderabad’s Rajiv Gandhi International that opened in March and Bengaluru that is barely a week into ... Source: Business Line - Home Page | 31 May 2008 | 12:00 am
Since the start of this century, the per capita income of Indians has doubled. For 2007-08, the country’s per capita net national product (NNP) at factor cost -- what is commonly called per capita income – is estimated at Rs ... Source: Business Line - Home Page | 31 May 2008 | 12:00 am
“We are on a strong wicket to complete the acquisition,” said Mr Dilip Shanghvi, Sun Pharma’s Chairman and Managing Director, in his prelude to a discussion with analysts on the company’s financial performance. ... Source: Business Line - Home Page | 31 May 2008 | 12:00 am
The Sensex continued its losing streak Monday on global weakness and opened down by 172 points at 16,468. Selling was seen across the board on concern over crude oil price, further rise in inflation and hardening interest rates outlook. ... Source: Business Line - Home Page | 31 May 2008 | 12:00 am
First, the good news: the Central Statistical Organisation says India's GDP grew surprisingly faster at 8.8% in the fourth quarter ended March 31, 2008 Source: Daily News & Analysis: Money News | 30 May 2008 | 10:08 pm
And this time too, when the market turns, it will be "sudden and severe", say Lehman Bros analysts Source: Daily News & Analysis: Money News | 30 May 2008 | 9:52 pm
With inflation piercing the 8% mark, could the Reserve Bank of India (RBI) hike the cash reserve ratio (CRR) and repo rate yet again Source: Daily News & Analysis: Money News | 30 May 2008 | 9:49 pm
Banks will need to make provisions for their derivatives exposures just as they do for standard assets, the Reserve Bank of India (RBI) has said. Source: Daily News & Analysis: Money News | 30 May 2008 | 9:48 pm
The Emami Group has acquired 27.51% stake in ayurvedic products major Zandu Pharmaceutical Works, taking its total stake in the company to over 31.41%. Source: Daily News & Analysis: Money News | 30 May 2008 | 9:47 pm
RBI has announced a special openmarket option, or OMO, via banks in oil bonds for oil companies. The special oil bond OMO can be outright or repo and is capped at Rs 1,000 crore per day. RBI will give an equivalent FX via banks at market rates to oil companies. Source: Moneycontrol Top Headlines | 30 May 2008 | 9:26 pm
The State Ministers\' panel seeks to impose VAT on textiles, reports CNBCTV18, quoting Newswire18. It seeks to up the general VAT to 5% as against 4% in FY09. Source: Moneycontrol Top Headlines | 30 May 2008 | 9:04 pm
The next round of pay hikes will go to the top management of public sector units. The report submitted by the pay revision panel for the central public sector enterprises recommends that basic salaries for the PSU heads be hiked to Rs 1 lakh per month. It also recommends that allowances and perks be hiked to 50% of the revised basic pay. Source: Moneycontrol Top Headlines | 30 May 2008 | 8:59 pm
In a move that may take some sheen off derivative deals, the Reserve Bank of India (RBI) today proposed to increase the provisioning requirements for banks for off-balance sheet items such as forex and interest-rate derivatives and gold trading. Source: Business Standard | Front Page Headlines | 30 May 2008 | 6:41 pm
A sharp upward revision in farm sector growth helped the Indian economy grow 9 per cent in 2007-08 against the earlier estimate of 8.7 per cent, the third consecutive year it has touched this figure. Source: Business Standard | Front Page Headlines | 30 May 2008 | 6:40 pm
The National Multi-Commodity Exchange (NMCE) has launched new series for futures contract in non-ferrous metals, menthol crystal and raw jute. All the new contracts will be available for trading on NMCE e-platforms from Monday. Source: IndiaeNews.com: Business News | 30 May 2008 | 5:01 pm
A possible roll-back of export duty on steel and some other measures are in the pipeline to contain inflation, Commerce and Industry Minister Kamal Nath indicated here Friday. Source: IndiaeNews.com: Business News | 30 May 2008 | 4:31 pm
On the eve of World No Tobacco Day, Pfizer India Ltd Friday launched a website and a toll-free helpline to help smokers strongly motivated to kick the habit. Source: IndiaeNews.com: Business News | 30 May 2008 | 4:31 pm
EmaarMGF, one of India's leading real estate developers, Friday announced plans to invest $3 billion at 10 cities in south India over the next few years. Source: IndiaeNews.com: Business News | 30 May 2008 | 4:31 pm
Sujana Metal Products Ltd (SMPL), part of Rs.30 billion Sujana Group of Companies, Friday announced the acquisition of three steel units. Source: IndiaeNews.com: Business News | 30 May 2008 | 4:30 pm
NEW DELHI (Reuters) - The Indian government withdrew a statement on Friday about reducing the central sales tax (CST) rate to 2.0 percent on inter-state sale of goods from June 1.
The central government has sanctioned a second ultra mega power project (UMPP) of 4,000 MW for Gujarat. Source: IndiaeNews.com: Business News | 30 May 2008 | 3:02 pm
The central government Friday gave its unconditional approval for the modernisation of the Kolkata airport. The Rs.20 billion project is expected to begin in next two months, a government statement said Friday. Source: IndiaeNews.com: Business News | 30 May 2008 | 3:01 pm
NEW DELHI (Reuters) - South Korea's top automaker, Hyundai Motor Co, hopes to launch its small car in India by 2011 or 2012, the managing director of its India unit said on Friday.
