CNBCTV18 has learnt that Reliance Communications and MTN are likely to begin due diligence over the next two days. The two companies may be looking at a share swap that would give MTN a majority stake in Reliance Communications and make the latter\'s Chairman, Anil Ambani, the largest shareholder in the South African company. Source: Moneycontrol Top Headlines | 2 Jun 2008 | 6:30 pm
Tata Motors says the acquisition of Jaguar, and Land Rover is complete, reports CNBCTV18. JLR\'s David Smith would continue as CEO post the takeover by Tata Motors. Source: Moneycontrol Top Headlines | 2 Jun 2008 | 6:09 pm
Shantanu Prakash, MD, Educomp Solutions confirmed that the company plans to raise between USD 200 250 million via GDR issue. He sees this completed in the next few months.The money raised would be utilized to expand the company\'s millennium school initiative.Where the company would spen USD 100150 million. Source: Moneycontrol Top Headlines | 2 Jun 2008 | 4:09 pm
AnjaniKumar Choudhari, PresidentFarm Equipment, Mahindra Mahindra, is positive about the future outlook for tractors in India. \"The fundamentals for tractors continue to be extremely positive. Ownership is still very low. Record agricultural production as well as the government investments in rural areas are positives for the tractor industry.\" Source: Moneycontrol Top Headlines | 2 Jun 2008 | 3:52 pm
Jet Airways has hiked fuel surcharge by Rs 150 for up to 750 km and by Rs 250 for more than 750 km. Indian, Deccan also said that they will impose an additional fuel surcharge on all tkts w.e.f. June first week. This increase comes after oil companies hiked ATF prices in line with increasing crude oil prices. Source: Moneycontrol Top Headlines | 2 Jun 2008 | 3:41 pm
Unitech Wireless has appointed Aircel\'s former executive director Rohit Chandra as its CEO. The company will divest 26% to rope in a foreign mobile operator. Source: Moneycontrol Top Headlines | 2 Jun 2008 | 3:34 pm
Upaid said the new Court revelations raise stakes for Satyam in the US fraud case, reports CNBCTV18. Upaid will use Satyam\'s Senior Executive submissions in Court proceedings in the fraud case. Upaid expects over USD 1 billion damages from Satyam in the fraud law suit. Satyam said the damages will not exceed USD 810 million. Source: Moneycontrol Top Headlines | 2 Jun 2008 | 3:08 pm
NEW DELHI (Reuters) - India has asked at least seven international firms, including Boeing Co, to submit bids to supply 22 combat helicopters, industry and government officials said on Monday.
NEW YORK (Reuters) - U.S. stocks opened lower on Monday, with U.S. financial stocks falling after a major UK lender reported a loss and gave a bleak outlook for the British mortgage market, signaling more trouble for global credit markets.
LONDON (Reuters) - Oil fell more than $1 to near $126 on Monday, extending losses from last week on a firming dollar, selling by funds and on prospects of increased Iraqi crude supplies.
MUMBAI (Reuters) - Top Indian private carriers Jet Airways and Kingfisher and budget airline Deccan Aviation have raised their fuel surcharge with effect from midnight of June 2, company officials said.
With no aerobridges planned at Delhi airport's domestic terminal in the immediate future, there is no guarantee against accidents like the one Sunday when a Ukrainian national was crushed by a bus as he was unloading his luggage. Source: IndiaeNews.com: Business News | 2 Jun 2008 | 1:30 pm
MUMBAI (Reuters) - The rupee was knocked off early highs on Monday as the sharemarket tumbled on worries of a rift in the ruling coalition, raising concerns about foreigners selling investments and repatriating their holdings.
Travelling in Air India and Jet Airways will be costlier from tomorrow with both the airlines hiking fuel surcharge by Rs 300-550 Source: Daily News & Analysis: Money News | 2 Jun 2008 | 1:20 pm
Ajay Singh, Director, SpiceJet, said the airline plans to announce an increase in fares shortly. \"Shorthaul flight routes will be impacted the most with the airfare hike. Airlines are considering a containment of capacity and routes.\" He feels the government needs to get proactive in bringing down taxes and landing charges. Source: Moneycontrol Top Headlines | 2 Jun 2008 | 1:14 pm
Tata Sons and Tata Motors Chairman Ratan N. Tata Monday formally acquired the prestigious Jaguar and Land Rover (JLR) businesses from Ford Motor Company at a ceremony in Gaydon, Britain. Source: IndiaeNews.com: Business News | 2 Jun 2008 | 1:12 pm
The Tata group, India's largest business conglomerate, Monday said they had formally acquired British marques Jaguar and Land Rover (JLR) from Ford Motor Company. The business was acquired at a function in Gaydon, Britain. Source: IndiaeNews.com: Business News | 2 Jun 2008 | 1:10 pm
The state-run Union Bank of India (UBI) announced Monday that it has signed a partnership agreement with online trading company Emkay Share to provide online trading platform to its customers. Source: IndiaeNews.com: Business News | 2 Jun 2008 | 1:09 pm
Soft drinks major Coca Cola India, German airline Lufthansa and seven other companies have been slapped notices by authorities demanding service tax amounting to Rs 77 crore. Source: Daily News & Analysis: Money News | 2 Jun 2008 | 1:05 pm
Homegrown auto major Tata Motors said it has completed the $2.3 billion acquisition of British luxury brands Jaguar and Land Rover in an all cash transaction. Source: Daily News & Analysis: Money News | 2 Jun 2008 | 1:00 pm
NEW DELHI (Reuters) - India's Sterlite Industries looks to have won the assets of bankrupt copper miner Asarco cheaply, analysts said on Monday, adding they did not see much risk in a challenge to the deal from the owners.
MUMBAI (Reuters) - Tata Motors Ltd, India's top vehicle maker, said on Monday it had completed the $2.3 billion acquisition of Jaguar and Land Rover, adding the luxury brands to a line-up that also includes the low-cost Nano.
The merger of State Bank of Saurashtra into State Bank of India will be completed after addressing important legal issues at the earliest. Source: Daily News & Analysis: Money News | 2 Jun 2008 | 12:36 pm
Crompton Greaves said it has completed the acquisition of French firm Societe Nouvelle de Maintenance Transformateurs (Sonomatra) for about Euro 1.30 million. Source: Daily News & Analysis: Money News | 2 Jun 2008 | 12:31 pm
Tata Motors has raised the prices of its passenger vehicles. It has increased the prices of Indica and Indigo models by 12%. The company has also increased the prices of Sumo and Safari models by 23%. Source: Moneycontrol Top Headlines | 2 Jun 2008 | 12:23 pm
Anti-inflationary measures are unlikely to turn India into a slow growing economy, while other Asian nations could face the situation of rising prices and economic stagnation, a latest report says. Source: Zee News : Business | 2 Jun 2008 | 12:15 pm
Liberalisation of imports, banning exports and a cut in excise and customs duties are some of the many steps initiated by the UPA government to control inflation in the country, Finance Minister P Chidambaram said here Sunday. Source: Zee News : Business | 2 Jun 2008 | 12:15 pm
Oil prices were little changed below $128 a barrel on Monday, with traders tracking the dollar for direction as fleeting Tropical Storm Arthur marked the start of the Atlantic hurricane season, shutting two Mexican oil ports. Source: Zee News : Business | 2 Jun 2008 | 12:15 pm
Vijay Mallya`s UB Group, the spirits-to-airline major, has initiated talks with France-based EADS Socata, a leading aircraft manufacturer, to invest some USD 200 million to co-develop business jets for which India has now emerged as a hot market. Source: Zee News : Business | 2 Jun 2008 | 12:15 pm
The government may refer the issue of allowing foreign players in the third generation telephony, which allows faster data transfer, to an empowered-Group of Ministers as differences between DoT and regulator TRAI widen. Source: Zee News : Business | 2 Jun 2008 | 12:15 pm
Government can partly keep crude import bill and prices under control by supporting oil companies in acquiring rigs for exploration of domestic hydrocarbon sources, industry body Assocham said. Source: Zee News : Business | 2 Jun 2008 | 12:15 pm
Vodafone Chairman John Bond tried to talk Arun Sarin out of plans to retire, but the India-born CEO of the world`s largest mobile operator decided this was the right time to go - with his head held high. Source: Zee News : Business | 2 Jun 2008 | 12:15 pm
India`s main stock index opened 1.1 percent higher on Monday, led by gains in HDFC Bank and Infosys Technologies. Source: Zee News : Business | 2 Jun 2008 | 12:15 pm
The Centre is planning to bring about uniform duty structure for the liquor industry in the country, industry captains said. Source: Zee News : Business | 2 Jun 2008 | 12:15 pm
Indian conglomerate Reliance ADAG, headed by billionaire Anil Ambani, is keen on having a presence in sectors ranging from power to finance in the Gulf region and is open to partnerships with regional players. Source: Zee News : Business | 2 Jun 2008 | 12:15 pm
NEW DELHI (Reuters) - Indian shares dropped more than 2 percent on Monday in their biggest single-day fall since early April, after a delay in raising state-set fuel prices sparked market talk there was a rift within the ruling coalition.
Steel manufacturer Sujana Metal Products Ltd (SMPL), part of the Rs.30 billion Sujana group, has bought over three steel units in keeping with its strategy to expand production capacity to one million tonnes per annum by 2010. Source: IndiaeNews.com: Business News | 2 Jun 2008 | 12:03 pm
Worried about an imminent fuel price hike, the Indian equities markets ended the day with a huge cut. Source: IndiaeNews.com: Business News | 2 Jun 2008 | 12:01 pm
In its fourth global acquisition, electrical equipment major Crompton Greaves Limited has bought French power transformers repairing leader Societe Nouvelle de Maintenance Transformateurs (Sonomatra) for 1.30 million euros (Rs.85 million or $2.01 million). Source: IndiaeNews.com: Business News | 2 Jun 2008 | 11:59 am
An international convention centre will be set up here by the Kerala government in collaboration with Mumbai-based Chalet Hotels at a cost of Rs.8.05 billion, an official said Monday. Source: IndiaeNews.com: Business News | 2 Jun 2008 | 11:58 am
The Boeing Company said Monday it was studying an Indian Air Force (IAF) global tender for attack helicopters before formulating its response, even as it maintained its AH-64D Apache aligned with the Indian government's requirements. Source: IndiaeNews.com: Business News | 2 Jun 2008 | 11:57 am
Realty and construction major K. Raheja Corporation has inked the first ever project development agreement (PDA) with Johnson Controls to carry out energy efficiency retrofits in Inorbit Mall - Mumbai's largest mall - under the Clinton Climate Initiative (CCI). Source: IndiaeNews.com: Business News | 2 Jun 2008 | 11:57 am
Two American corporate giants PepsiCo and Citigroup -- led by India-born chief executives - have made into a list of best employers for multicultural women. Source: Daily News & Analysis: Money News | 2 Jun 2008 | 11:24 am
Telecom service provider Tata Teleservices (TTL) introduced a scheme, under which its pre-paid customers can call any Tata Indicom number within its circle for free. Source: Daily News & Analysis: Money News | 2 Jun 2008 | 11:19 am
SkodaAuto India, a fully owned subsidiary of the Czech Republic based SkodaAuto - part of the Volkswagen Group, has sold 1,802 units this month. Source: Daily News & Analysis: Money News | 2 Jun 2008 | 11:13 am
NEW DELHI (Reuters) - India must not further subsidise soaring prices of oil and other commodities to protect consumers, but will be able to sustain high economic growth despite global challenges, the prime minister said on Monday.
New Delhi: The Rajdhani Express would be a better idea if you are planning a budget holiday this season as flying is once again slowly getting out of reach for the common man. Nearly all airlines will hike fares by 810 per cent in the next few days. This follows a 10 percent hike last month. Source: Moneycontrol Top Headlines | 2 Jun 2008 | 10:17 am
The government has slapped demand notices amounting to about Rs 77 crore on nine companies, including Coca Cola India, Lufthansa and Era Infra Engineering for evading service tax. Source: Daily News & Analysis: Money News | 2 Jun 2008 | 10:16 am
Homegrown auto major Tata Motors on Monday increased the prices of its passenger vehicles up to three per cent due to rise in input costs. Source: Daily News & Analysis: Money News | 2 Jun 2008 | 9:58 am
NEW DELHI (Reuters) - India's political leaders are divided over the extent to which fuel prices should be raised, delaying the government's decision on compensating state firms selling fuels below cost, a top oil ministry official said.
Thiruvananthapuram, June 1 The opening pulse of the southwest monsoon seemed to have petered out over Kerala, with the skies clearing up over most parts of the State after the onset was declared. On Sunday, dry westerlies and ... Source: Business Line - Home Page | 2 Jun 2008 | 12:00 am
The Maharashtra government will take a final decision on the Anil Dhirubhai Ambani Group (ADAG)-led consortium's bid for the Rs 6,000 crore, six-lane sea link between Sewri and Nhava Sheva, better known as the Mumbai Trans Harbour Link (MTHL), within two weeks, said Public Works Minister Anil Deshmukh. Source: Business Standard | Front Page Headlines | 1 Jun 2008 | 6:44 pm
Despite taking a tough stand against liberalising the trade of re-manufactured goods at the World Trade Organisation (WTO), the government has begun to nudge Indian industry to reconsider its opposition to such imports. Source: Business Standard | Front Page Headlines | 1 Jun 2008 | 6:43 pm
The second central public sector units (PSU) pay revision committee report has suggested a new classification of state-owned companies linking salaries and remuneration to productivity and performance. Source: Business Standard | Front Page Headlines | 1 Jun 2008 | 6:42 pm
India's first MF scheme ends its 43-year journey. ??Sharjah-based marketing executive Vijay Raghavan has sent the 264 bonds he got in lieu of the Unit Scheme 64 certificates he held since 1990 to the Special Undertaking of UTI. Source: Business Standard | Front Page Headlines | 1 Jun 2008 | 5:26 pm
Air fares are set to go up again, with the government announcing an over 18 per cent average increase in the prices of aviation turbine fuel (ATF), effective Saturday midnight. Source: Business Standard | Front Page Headlines | 1 Jun 2008 | 5:25 pm
Two days after it relaxed overseas borrowings limits for Indian companies, especially those in the infrastructure sector, the government today further relaxed the policy, allowing services sector firms in the hospitality, hospitals and software business to borrow $100 million for the import of capital goods under the approval route. Source: Business Standard | Front Page Headlines | 1 Jun 2008 | 5:23 pm
Sterlite Industries (India), a subsidiary of Anil Agarwal-promoted Vedanta Resources, has reached an agreement to buy the operating assets of Asarco, a US-based mining, smelting and refining company for $2.6 billion in an all-cash deal, Sterlite announced through a media statement in Mumbai. Source: Business Standard | Front Page Headlines | 1 Jun 2008 | 5:21 pm
