For a perspective on how Welspun Group is expected to benefit from the excise duty change announcement, Akhil Jindal, President, Welspun Group said, For a company like us, which is largely export oriented, it would have meant a Rs 400 crore hole into our pocket. So, the government is taking corrective action, which is benefiting us considerably. Source: Moneycontrol Top Headlines | 16 Jun 2008 | 3:19 pm
West Bengals State Minister for Finance, Asim Dasgupta has said that states want compensation for 50% of revenue loss of Rs 4000 crore. The revenue loss is due to reduction of sales tax and VAT (Value Added Tax) rates on petrol and diesel. The revenue loss estimated as a result of the petro products is seen at around Rs 8000 crore. Source: Moneycontrol Top Headlines | 16 Jun 2008 | 2:25 pm
Larsen Toubro, or LT, is undertaking due diligence to acquire Crompton Greaves\' project business, sources said. The project business contributes around 1015% of the company\'s standalone revenues. Source: Moneycontrol Top Headlines | 16 Jun 2008 | 2:07 pm
The fight between the Ambani Brothers over Reliance Communications possible deal with MTN may get murkier this week. News agency PTI reports that MTN officials are in Mumbai to carry out due diligence on Reliance Communications. Source: Moneycontrol Top Headlines | 16 Jun 2008 | 2:07 pm
Parent company Grupo Mexico has makes a counter bid of USD 4.1 billion for Asarco, which was bought by Sterlite for USD 2.6 billion. Grupo Mexico will infuse USD 2.7 billion into the company, use USD 1 billion in Asarco\'s hands, and pump an additional USD 440 million if needed. This is higher than Sterlite\'s winning bid by USD 500 million. Source: Moneycontrol Top Headlines | 16 Jun 2008 | 1:42 pm
Yes Bank has hiked its PLR by 50 bps. It has hiked the interest rates on one year and one day deposit to 9.5 per cent. Yes Bank would be offering deposit rate of 10 per cent to senior citizens. Source: Moneycontrol Top Headlines | 16 Jun 2008 | 12:08 pm
Public sector lender Bank of Baroda
on Monday announced a consolidated net profit of Rs 1,548.38 crore
for the financial year ended March 31, a 37.16 percent growth
over the year-ago period. Source: Zee News : Business | 16 Jun 2008 | 12:01 pm
The Bombay Stock Exchange benchmark
Sensex on Monday moved up by 325 points in early trade on the
back of buying in heavy-weight stocks by funds and retail
investors, tracking firm global markets. Source: Zee News : Business | 16 Jun 2008 | 12:01 pm
As talks between the Reliance Anil Dhirubhai Ambani Group (RADAG) and South Africa-based telecom major MTN continued, the controversy over the control of shares of the Indian entity held by the promoters surfaced once again. Source: Zee News : Business | 16 Jun 2008 | 12:01 pm
Oil fell more than half a percent to near USD 134 a barrel on Monday as Saudi Arabia prepared to push production to its highest rate in decades, moving to soothe the market ahead of this weekend`s crisis meeting over record prices. Source: Zee News : Business | 16 Jun 2008 | 12:01 pm
Mitsubhishi Motors Corp will tie up with France`s PSA Peugeot Citroen in the production of electric vehicles, supplying technology and next-generation batteries, a newspaper reported on Monday. The report in the Nikkei business daily boosted Mitsubishi Motors stock 2.5 percent, while shares in its partner for lithium-ion batteries GS Yuasa Corp surged 10.4 percent. Source: Zee News : Business | 16 Jun 2008 | 12:01 pm
Lehman Brothers\' real estate partners will invest USD 175 million in the company\'s Mumbai project, a spokesperson from Unitech said. Lehman will acquire 50% in the Western Expressway project in Mumbai. Lehman and Western Expressway joint venture will contribute 50% each of the cost. Source: Moneycontrol Top Headlines | 16 Jun 2008 | 10:32 am
SINGAPORE (Reuters) - Refiners across Asia said on Monday they were not likely to buy more Saudi crude at current prices, highlighting the kingdom's challenge in attempting to contain soaring markets by promising extra barrels.
Card-holders have something to cheer -- their lost cards will now be insured against any misuse. Source: Daily News & Analysis: Money News | 16 Jun 2008 | 10:18 am
LONDON (Reuters) - Oil rebounded above $134 a barrel on Monday after falling sharply in response to plans by Saudi Arabia to push output to its highest rate in decades.
Finance Minister P Chidambaram on Monday said state-run banks would waive farm loans by June 30, as outlined in his budget speech Feb 29. Source: Daily News & Analysis: Money News | 16 Jun 2008 | 10:13 am
MUMBAI (Reuters) - Shares in Reliance Communications Ltd, India's No.2 mobile operator, fell more than 2 percent on Monday amid fears that a family feud could delay a multi-billion dollar tie-up with South Africa's MTN.
Union Finance Minister P. Chidambaram Monday said state-run banks would waive farm loans by June 30, as outlined in his budget speech Feb 29. Source: IndiaeNews.com: Business News | 16 Jun 2008 | 10:02 am
Domestic steel giant Tata Steel on Monday said it will set up a coal based power plant in Orissa jointly with Jasper Industries. Source: Daily News & Analysis: Money News | 16 Jun 2008 | 9:37 am
MUMBAI (Reuters) - India's Tata Steel Ltd said on Monday it had formed a joint venture with Jasper Industries Ltd to set up a 135 megawatt power plant in Orissa.
It\'s been called the mother of all deals in the Indian telecom space. After today\'s development, it seems like mother Kokilaben may need to step in to make it happen. That\'s because her two sons Anil and Mukesh are at war again. Source: Moneycontrol Top Headlines | 16 Jun 2008 | 9:31 am
Leading Hindi daily 'Dainik Bhaskar' signed India's one day and Twenty20 captain Mahendra Singh Dhoni as its brand ambassador. Source: Daily News & Analysis: Money News | 16 Jun 2008 | 9:31 am
LONDON (Reuters) - European shares were steady to firmer on Monday after strong rallies on Asia's bourses, with the banking sector outperforming during a critical week and Britain's Barclays surging up to 10 percent.
SHANGHAI (Reuters) - Jet Airways, India's top private airline, plans to put its international expansion on hold until the end of next year because of soaring oil prices, its chief commercial officer said on Monday.
A high profile project being developed by Unitech in Mumbai on the lines of Canary Wharf in London and Battery Park in New York will now have Lehman Brothers Real Estate Developers as a 50-percent partner with an investment of $175 million. Source: IndiaeNews.com: Business News | 16 Jun 2008 | 9:03 am
An early monsoon may be a good omen for the beleaguered government fighting zooming inflation, but experts look for a stable rainy season ahead to have a bumper rice crop. Source: IndiaeNews.com: Business News | 16 Jun 2008 | 9:01 am
People rushed to stock up on supplies and trucks snaked up the hills to carry essentials Monday in readiness for the indefinite shutdown in the Darjeeling Hills called by the Gorkha Janamukti Morcha (GJM), agitating for separate statehood. Source: IndiaeNews.com: Business News | 16 Jun 2008 | 9:01 am
After leveraging its Indian offshore presence to be globally competetive, French IT and consulting giant Capgemini is taking a close look at the Indian government\'s various departments and public sector units to boost its consulting business here. Source: Moneycontrol Top Headlines | 16 Jun 2008 | 9:00 am
With the domestic airline industry losing more than Rs 24 crore a day, mainly on account of high fuel costs and low realisation of fares from passenger ticket sales, the industry has approached the Government for help. Source: Moneycontrol Top Headlines | 16 Jun 2008 | 8:52 am
MUMBAI, June 16 (Reuters) - Real estate developer Unitech Ltd said on Monday it will sell 50 percent stake in the first phase of a Mumbai project to Lehman Brothers Real Estate Partners for $175 million.
TOKYO (Reuters) - Japan's Nikkei stock average rose 2.7 percent on Monday as exporters such as Kyocera Corp climbed on a weaker yen and after U.S. data eased worries on Wall Street about inflation and a near-term rise in interest rates.
P Chidambaram asked bankers to shed their "conservative" attitude towards lending to entrepreneurs. Source: Daily News & Analysis: Money News | 16 Jun 2008 | 8:22 am
The Indian equity markets maintained its lead in early afternoon trade Monday. Sustained buying was witnessed in banking, realty and metal stocks. Source: IndiaeNews.com: Business News | 16 Jun 2008 | 8:01 am
The Sensex moved up by 325 points in early trade on the back of buying in heavy-weight stocks by funds and retail investors, tracking firm global markets. Source: Daily News & Analysis: Money News | 16 Jun 2008 | 7:07 am
Anil Ambani led RCom and Mukesh Ambani group's flagship firm Reliance Industries, witnessed a decent rise in their share prices on the Bombay Stock Exchange. Source: Daily News & Analysis: Money News | 16 Jun 2008 | 6:25 am
Bobby Jindal has once again discounted speculation that John McCain, saying he's currently focused on his current job. Source: Daily News & Analysis: Money News | 16 Jun 2008 | 6:13 am
Deutsche Bank has said it is moving ahead with a plan to establish a Middle East research platform, expected to be the largest facility of its kind in the region. Source: Daily News & Analysis: Money News | 16 Jun 2008 | 6:11 am
The controversy over the control of shares of the Indian entity held by the promoters surfaced once again. Source: Daily News & Analysis: Money News | 16 Jun 2008 | 5:02 am
The Indian equity markets, which opened on the upswing Monday, maintained their momentum in early trade. There was buying interest in metal, realty and banking stocks. Source: IndiaeNews.com: Business News | 16 Jun 2008 | 5:00 am
As talks between the Reliance Anil Dhirubhai Ambani Group (RADAG) and South Africa-based telecom major MTN continued, the controversy over the control of shares of the Indian entity held by the promoters surfaced once again. Source: IndiaeNews.com: Business News | 16 Jun 2008 | 12:32 am
The monsoon entered Delhi on Sunday in what is the earliest known onset over the National Capital in over 100 years and set a punishing pace as it scurried through Rajasthan, the last frontier to be covered in the record-breaking run. ... Source: Business Line - Home Page | 16 Jun 2008 | 12:00 am
New Delhi, June 15 Bringing a type of ‘loyalty bonus’ feature into the ULIP space, Reliance Life Insurance plans to launch a plan, providing guaranteed additional contribution for policyholders during the policy ... Source: Business Line - Home Page | 16 Jun 2008 | 12:00 am
Washington DC, June 15 Has the longstanding relationship between crude and gold prices broken decisively? Is gold gradually losing sheen as an investment class and is being increasingly replaced by another gold, that is crude, also known as ... Source: Business Line - Home Page | 16 Jun 2008 | 12:00 am
India's own Arjun tank is finally proving its worth. Despite continuing criticism from an army establishment that judges the Arjun far more strictly than foreign purchases like the T-90, the Arjun is successfully completing a gruelling 5,000-kilometre trial in the Rajasthan desert. Source: Business Standard | Front Page Headlines | 15 Jun 2008 | 7:15 pm
Move to boost company's delayed titanium dioxide project.??The Tamil Nadu government has agreed to help Tata Steel procure nearly 10,000 acres of land for its Rs 2,500-crore titanium dioxide project in Tuticorin district, 540 km south-west of state capital Chennai. Source: Business Standard | Front Page Headlines | 15 Jun 2008 | 7:14 pm
As work on the National Rural Employment Guarantee Programme gathers pace in the villages of Bihar and Uttar Pradesh, paddy farmers of Punjab are faced with an unprecedented shortage of farm hands to sow the crop. Source: Business Standard | Front Page Headlines | 15 Jun 2008 | 7:14 pm
The Uttar Pradesh government today ordered first information reports (FIRs) to be lodged against all the 16 sugar mills that Bajaj Hindusthan owns in the state for allegedly failing to honour farmers' payment commitments for the crushing season 2007-08. Source: Business Standard | Front Page Headlines | 15 Jun 2008 | 7:12 pm
South African telecom major MTN Group is open to extending the earlier agreed 45-day exclusivity deadline with Reliance Communications (RCom) for talks to discuss a potential combination of their businesses. Source: Business Standard | Front Page Headlines | 15 Jun 2008 | 5:16 pm
A 13-member delegation of chief executives will visit Britain over June 19-20 to augment economic ties between the two nations. Source: IndiaeNews.com: Business News | 15 Jun 2008 | 10:32 am
Swedish transport solutions major AB Volvo is gearing up to emerge as the preferred choice of public transport in Indian cities. Source: IndiaeNews.com: Business News | 15 Jun 2008 | 10:31 am
Instant karma has emerged as the driving force behind the state's multimillion-dollar realty industry, with religious tourism turning the twin towns of Haridwar-Rishikesh into hot spots for developers, industry trackers say. Source: IndiaeNews.com: Business News | 15 Jun 2008 | 9:30 am
