Lehman Brothers plans to raise USD 6 billion in new capital for corporate and financial purposes, reports CNBCTV18. It expects to post a USD 2.8 billion loss in Q2. Lehman also plans to cut mortgage, and realestate exposures by 1520% in Q2. It sees negative Q2 net revenue at USD 700 million versus USD 5.5 billion. Source: Moneycontrol Top Headlines | 9 Jun 2008 | 6:09 pm
The Nasscom BPO summit took off in Bangalore today where Nasscom has revealed that there will be a 34% slowdown in growth of the ITITes industries this year, largely on account of the fluctuating dollar and economic uncertainties in the US, reports CNBCTV18. Source: Moneycontrol Top Headlines | 9 Jun 2008 | 5:36 pm
Cashstrapped that\'s where orders for narrow body aircrafts used for domestic operations, like the Airbus 320, and Boeing 737 are leaving airline operators. That\'s because many operators get into what is commonly called a sale and lease back agreement right after they book these crafts. Source: Moneycontrol Top Headlines | 9 Jun 2008 | 5:22 pm
The Supreme Court has directed Sahara India Finance to appear before the Reserve Bank of India, or RBI, on June 12, reports CNBCTV18. The apex court had earlier vacated the order of the Lucknow bench of the Allahabad High Court on Sahara Finance. Source: Moneycontrol Top Headlines | 9 Jun 2008 | 1:09 pm
MUMBAI (Reuters) - British industrial chain maker Renold Plc said on Monday it plans to buy a 75 percent stake in the industrial chains division of Indian auto parts maker L G Balakrishnan & Bros.
MUMBAI (Reuters) - The rupee fell sharply on Monday, driven lower by heavy losses in local stocks as a weekend spike in oil prices tripped up Asian markets and fuelled concerns of more equity outflows.
TCS said it has hedged funds of about 1.5 billion dollars to create a safeguard against the fluctuations in the rupee movement. Source: Daily News & Analysis: Money News | 9 Jun 2008 | 12:45 pm
FMCG major Emami Ltd, which has recently acquired 27.5 per cent stake in Zandu Pharmaceutical Works, will not revise the open offer price from Rs 7,315 per share. Source: Daily News & Analysis: Money News | 9 Jun 2008 | 12:18 pm
MUMBAI (Reuters) - The annual monsoon rains have advanced to more regions across the country, the weather department said on Monday, boosting the prospects for rice, cotton and groundnut.
Hyundai Motor India introduced CNG variant of its mid-size sedan 'Accent', which will be costlier by Rs 56,500 than the existing version. Source: Daily News & Analysis: Money News | 9 Jun 2008 | 11:53 am
Despite rising global crude prices and soaring inflation, the Indian economy will expand by 8.5 percent in the current fiscal, Finance Minister P. Chidamabaram said. Source: Daily News & Analysis: Money News | 9 Jun 2008 | 11:50 am
MUMBAI (Reuters) - Indian shares fell 3.25 percent on Monday to their lowest close in nearly three months as spiralling oil prices crippled markets worldwide, but Reliance Communications rose on reports of progress in merger talks with South Africa's MTN Group.
MUMBAI (Reuters) - Indian brokerages are competing with banks to offer wealth management services to the nation's burgeoning millionaires in a growing economy as a volatile stock market makes revenues from broking operations unstable.
Vodafone emerged as the sixth biggest wealth creator in the country ahead of giants like Barclays, BT and Tesco, as per a list prepared by the UK government. Source: Daily News & Analysis: Money News | 9 Jun 2008 | 11:32 am
Hyundai Motor India Ltd, the country's second largest car manufacturer, hopes to log around 20 percent higher sales of its mid-sized sedan Accent in Delhi and the national capital region (NCR) with the launch of the compressed natural gas (CNG) variant, said a top official. Source: IndiaeNews.com: Business News | 9 Jun 2008 | 11:31 am
Vodafone 6th biggest wealth creator in UK Business Standard - 1 hour ago PTI / London June 09, 2008, 16:52 IST British telecom giant Vodafone, whose Indian origin CEO Arun Sarin is set to resign next month, today emerged as the sixth biggest wealth creator in the country ahead of giants like Barclays, BT and Tesco, ...
Axis Bank's private equity arm, Axis PE, said that it has invested Rs 75 crore and Rs 67 crore in Neesa Leisure Limited and Corrtech International Pvt Ltd, respectively. Source: Daily News & Analysis: Money News | 9 Jun 2008 | 11:24 am
Reliance Mutual Fund has increased its stake in the healthcare and pharma major Piramal Group's, spun-off research and development arm, Piramal Life Sciences, to over 5 per cent. Source: Daily News & Analysis: Money News | 9 Jun 2008 | 11:19 am
A fast-growing population coupled with changing consumption patterns could push up food demand in the Asian region by 3.8 per cent per annum in the next ten years. Source: Daily News & Analysis: Money News | 9 Jun 2008 | 11:16 am
Following a major increase in direct tax collection last fiscal, the Indian government expects to substantially revise upward the estimate for the current fiscal. Source: IndiaeNews.com: Business News | 9 Jun 2008 | 11:02 am
Taking a cue from competitors, Bharat Sanchar Nigam Ltd (BSNL), the country's largest telecom provider, Monday announced significant cuts in its tariff structure for its landline and mobile services. Source: IndiaeNews.com: Business News | 9 Jun 2008 | 11:00 am
Despite rising global crude prices and soaring inflation, the Indian economy will expand by 8.5 percent in the current fiscal, Finance Minister P. Chidamabaram said here Monday. Source: IndiaeNews.com: Business News | 9 Jun 2008 | 11:00 am
BANGALORE (Reuters) - India's export-focused software and back-office services companies will see slower revenue growth of 25 percent in the current fiscal year to March because of tighter technology spending, a lobby group said on Monday.
The continuing contract workers' strike at the Rs.36.38 billion lignite mining and power generation public sector Neyveli Lignite Corporation Ltd (NLC) threatens to force the four southern states and the Union Territory of Puducherry sweat it out. Source: IndiaeNews.com: Business News | 9 Jun 2008 | 10:01 am
R Seshasayee has been honoured by the Italian government for his contribution towards strengthening economic and social relations between the European country and India. Source: Daily News & Analysis: Money News | 9 Jun 2008 | 9:51 am
JPMorgan Asset Management India, on Monday announced the launch of its open-ended income scheme, JPMorgan India Active Bond Fund. Source: Daily News & Analysis: Money News | 9 Jun 2008 | 9:48 am
MUMBAI (Reuters) - India's main stock index may fall to a 10-month low of around 13,000 points by end-2008, as the central bank may raise interest rates to check inflation due to record oil prices, Credit Suisse said on Monday.
The setting up of a liver transplantation facility in Kolkata by Apollo Hospitals Chennai is in the pipeline, according to Ms Ishita Basu, Regional Head of Apollo Hospitals, Chennai. Source: Moneycontrol Top Headlines | 9 Jun 2008 | 8:55 am
Concerned over adverse reports from global markets on traditional products exported from India, the Centre had recently proposed qualitylinked tests and certification of ayurvedic, unani and siddha products before they left the countrys shores. Source: Moneycontrol Top Headlines | 9 Jun 2008 | 8:51 am
Corporation Bank, which has begun work on debt relief and waiver to farmers as per the scheme announced by the Union Government, is likely to waive around Rs 275 crore under the scheme. Source: Moneycontrol Top Headlines | 9 Jun 2008 | 8:48 am
Having secured successive extensions, ONGC may finally have to wind up its oil hunt at Bengal offshore block, empty handed and without fulfilling the committed work programme. ONGC has 85 per cent operating stake in the block and IndianOil has 15 per cent participatory stake. Source: Moneycontrol Top Headlines | 9 Jun 2008 | 8:45 am
If researchers at IBM India Research Labs (IRL) have their way, the innovative features they have developed for mobile phones will help people access services using speech interface. Source: Moneycontrol Top Headlines | 9 Jun 2008 | 8:43 am
NEW DELHI (Reuters) - India's economy is expected to grow 8.5 percent in the fiscal year ending March 2009, Finance Minister Palaniappan Chidambaram said on Monday.
The iron ore mining industry in southern Chhattisgarh has come to a halt since Thursday after Maoists cut off power supply in four districts including Dantewada, which has one of the world's largest iron ore deposits. Source: IndiaeNews.com: Business News | 9 Jun 2008 | 8:31 am
Sadbhav Engineering Ltd, which is into mineral prospecting and infrastructure development, has acquired a 74 percent stake in the Hong Kong-based mining company Ocean Bright Corporation Limited (OBCL), a move that gives it entry into Africa. Source: IndiaeNews.com: Business News | 9 Jun 2008 | 8:30 am
The Indian equity markets, which started Monday with a huge loss due to a new high in international crude oil price and weak cues from global markets, were trading with a loss of more than 580 points early afternoon. Source: IndiaeNews.com: Business News | 9 Jun 2008 | 8:01 am
Public transport stayed off the roads and offices and educational institutions reported thin attendance Monday as a four-day strike against the hike in fuel prices brought life to a standstill across Kashmir Valley. Source: IndiaeNews.com: Business News | 9 Jun 2008 | 8:00 am
Gah village in Pakistan's Punjab province is reaping the benefits of being Indian Prime Minister Manmohan Singh's birthplace at a time when relations between India and Pakistan are more or less on even keel. Source: Business Standard | Front Page Headlines | 9 Jun 2008 | 12:07 am
Last Friday's tumble on Wall Street, with the Dow Jones index falling nearly 400 points, is sure to have its repercussions on the already shaky Indian market. Source: Business Standard | Front Page Headlines | 9 Jun 2008 | 12:06 am
Demand payment of sugarcane arrears, company says there are no dues.??Agitated over the non-payment of sugarcane price arrears, thousands of farmers have laid siege to a mill owned by Bajaj Hindusthan Ltd, the country's largest sugar producer, at Kinauni near Meerut. Source: Business Standard | Front Page Headlines | 9 Jun 2008 | 12:04 am
Because Americans lost jobs (guess everything is coming to India), stocks fell there. 49,000 job losses = 394 points less, Jogin was thinking hard. Europe fell too. The only thing that seems to going up is oil - the crude variety of ... Source: Business Line - Home Page | 9 Jun 2008 | 12:00 am
We recommend a sell in JSW Steel from a short-term perspective. The stock has been on a medium-term uptrend from its April low of Rs 490 levels. However, the stock encountered resistance at Rs 1,200 recently and began to decline forming a ... Source: Business Line - Home Page | 9 Jun 2008 | 12:00 am
Thiruvananthapuram, June 8 After storming into the Konkan-Mumbai belt on Saturday, a power-packed monsoon pulse chose to rain it down over the region for another day while holding back its northward progress. An India Meteorological ... Source: Business Line - Home Page | 9 Jun 2008 | 12:00 am
Speech interface to ride info highway via mobile, bypassing need for PC and literacy concerns Source: Business Line - Home Page | 9 Jun 2008 | 12:00 am
Energy chiefs from the world`s industrial powers huddled for talks on soaring oil prices Sunday amid deep doubts that their actions can quell markets or stave off damage to their economies anytime soon. Ministers from the Group of Eight nations met in northern Japan in the morning to discuss energy security. Source: Zee News : Business | 8 Jun 2008 | 11:49 am
Eleven nations that guzzle nearly two-thirds of the world`s energy met on Sunday to discuss record oil prices as host Japan aired fears that the world may plunge into recession. Energy ministers from the Group of Eight (G8) industrial powers held a one-hour meeting in the northern Japanese city of Aomori followed by wider talks with China, India and South Korea. Source: Zee News : Business | 8 Jun 2008 | 11:49 am
Agriculture and Food Minister Sharad Pawar has said the restrictions imposed on export of major foodgrain are not permanent and the government could lift the ban once the supply situation improves. Source: Zee News : Business | 8 Jun 2008 | 11:49 am
At a time when global slowdown and increasing inflation are casting a shadow on the growth prospects of the country, India Inc`s increasing competitiveness and efficiency will come to the aid and enable 8.6 percent economic expansion in the current fiscal, industry chamber CII said. Source: Zee News : Business | 8 Jun 2008 | 11:49 am
Flag carrier Air India was asked by Civil Aviation Minister Praful Patel to either perform or perish due to competition from a new crop of international airlines that excel in service. Source: Zee News : Business | 8 Jun 2008 | 11:49 am
Australia`s Prime Minister urged G8 nations on Sunday to "apply the blow-torch" to the Organisation of Petroleum Exporting Countries (OPEC) and force the world`s top crude-oil producers to increase production. Source: Zee News : Business | 8 Jun 2008 | 11:49 am
