Ranbaxy has reached a settlement with Pfizer on Lipitor litigation. Ranbaxy and Pfizer have also agreed to settle Caduet and Quinapril cases. Both the pharma majors have agreed to withdraw all litigations against each other. Ranbaxy is likely to get over USD 1.5 billion in sales due to settlement, reports CNBCTV18. Source: Moneycontrol Top Headlines | 18 Jun 2008 | 4:28 pm
CR Pradhan, CMD, Nalco said aluminium prices are rising and are expected to go up to USD 3,100 per tonne. He told CNBCTV18 that alumina prices are ranging around USD 330360 per tonne. Source: Moneycontrol Top Headlines | 18 Jun 2008 | 4:11 pm
Avinash Manchanda, MD, Asian Oilfield Services, said Rs 108 crore worth of orders have to be executed from October onwards. \"We hope to complete as much as possible of this Rs 108 crore executable order. Apart from this, we expect to bag more orders during the tender season, which will start in July through September.\" Source: Moneycontrol Top Headlines | 18 Jun 2008 | 3:55 pm
Midcap pharma stocks are on the roll. What are the key triggers? Cadila Healthcare would be consolidating and restructuring its consumer products division with its subsidiary Carnation Nutra.
Plethico Pharma is likely to buy a USbased nutraceuticals company for USD100 million. Source: Moneycontrol Top Headlines | 18 Jun 2008 | 3:02 pm
Tata Communication has said that it has received no formal communication from the government on the land sale. The capex be USD 500600 million for FY0910, the Management of Tata Communications said. See pricing pressure for enterprise business in India Source: Moneycontrol Top Headlines | 18 Jun 2008 | 2:50 pm
IdeaSpice deal is likely to happen at around Rs 77 per share, say sources. The deal is likely to include noncompete fee of Rs 710, rpeorts CNBCTV18. But whether the open offer price will include noncompete fee, is uncertain. Source: Moneycontrol Top Headlines | 18 Jun 2008 | 1:24 pm
According to sources, Civil Aviation Ministry has recommended that the 5yr criteria for international flights may be scrapped, reports CNBCTV18. This will allow Spicejet, Indigo and Go Air to fly international routes. KingfisherDeccan awaits the 5yr completion to start international operations in Aug. Source: Moneycontrol Top Headlines | 18 Jun 2008 | 11:59 am
Internet service leader Google Inc believes its recent advertising deal with Yahoo Inc will be beneficial as Yahoo tries to become more profitable, a key Google executive said on Wednesday. Source: Zee News : Business | 18 Jun 2008 | 11:43 am
The United States pressed China on Tuesday to advance market-opening measures but faced criticism over its weakening dollar as the two nations opened talks to address economic issues. Source: Zee News : Business | 18 Jun 2008 | 11:43 am
Telecom equipment maker Ericsson said on Wednesday mobile broadband Internet subscribers could rise to 2.2 billion in five years` time from 250 million, fuelled by exponential growth in emerging markets. Source: Zee News : Business | 18 Jun 2008 | 11:43 am
Tata Communications net profit dipped to USD 2.5 million (Rs 100 million) during the fiscal 2008 compared to USD 3.75 million (Rs 150 million) for the previous year. Source: Zee News : Business | 18 Jun 2008 | 11:43 am
Continuing its upward march for the third straight session on Wednesday, the Bombay Stock Exchange benchmark Sensex rose by 93 points in early trade on the back of buying in heavy-weight stocks by funds and retail investors. Source: Zee News : Business | 18 Jun 2008 | 11:43 am
The country`s second biggest truck maker, Ashok Leyland, is looking at de-risking its business model in the face of "many uncertainties in global
scenario." Source: Zee News : Business | 18 Jun 2008 | 11:43 am
Office goods supplier Staples has won approval from the European Commission for its 1.7 billion euro (USD 2.64 billion) takeover bid for Dutch peer Corporate Express. Source: Zee News : Business | 18 Jun 2008 | 11:43 am
Indian energy group Reliance plans to explore for oil in Peru and will evaluate investing in a new petrochemicals complex in the Andean country, officials said late Tuesday. Source: Zee News : Business | 18 Jun 2008 | 11:43 am
Movie studio DreamWorks SKG is close to a deal with Reliance ADA Group to form a new movie venture, the Wall Street Journal reported on Tuesday, citing people familiar with the talks. Source: Zee News : Business | 18 Jun 2008 | 11:43 am
As inflation has touched 8.75 per cent, the highest level during the UPA regime, FM P Chidambaram said the rate of price rise is high, prompting RBI to tighten money supply. Source: Daily News & Analysis: Money News | 18 Jun 2008 | 11:23 am
Sanjay Dalmia, Chairman, GHCL said that the company has multiple players in fray for the stake buy and there is a strong likelihood of an open offer. He added that the GHCL is looking at infusion of capital to meet growth plans. The promoters will not give up management control, Dalmia added. Source: Moneycontrol Top Headlines | 18 Jun 2008 | 11:20 am
CHICAGO (Reuters) - Spending related to large sporting events such as the Olympics and World Cup will boost revenue in the global sports market by 37 percent over the next five years to almost $141 billion, according to a report released on Wednesday.
KOLKATA (Reuters) - State-run Andhra Bank plans to raise up to $125 million through foreign currency loans in a couple of weeks, its top official said on Wednesday.
TOKYO (Reuters) - Japan's Honda Motor Co said on Wednesday it would start selling a hybrid version of its Civic sedan in India from the end of this month as it chases Toyota Motor Corp in the green car race.
The Leela Palaces, Hotels and Resorts on Wednesday said it has signed a sales and marketing agreement with US-based Preferred Hotel Group, with effect from June 1. Source: Daily News & Analysis: Money News | 18 Jun 2008 | 10:23 am
LONDON (Reuters) - The dollar was on the back foot on Wednesday after a flurry of weak U.S. data cast doubt over market expectations for a series of rate rises this year, while nagging worries about the banking sector weighed on European stocks ahead of results from Morgan Stanley.
Oil companies are not supplying unleaded petrol and diesel to petrol bunks in Tamil Nadu and forcing such such establishments to sell only costly branded petrol and diesel. Source: Daily News & Analysis: Money News | 18 Jun 2008 | 10:06 am
United Breweries Group, the second largest spirit company in the world, has developed colourless whisky and diet whisky which does not add to the cholesterol level. Source: Daily News & Analysis: Money News | 18 Jun 2008 | 10:04 am
SEOUL (Reuters) - The head of Tata Consultancy Services Ltd said on Wednesday turmoil in the financial industry would have a limited impact on the revenue growth of India's outsourcers as they source new opportunities in other sectors.
The Jharkhand government and coal companies suffer a loss of Rs.106 crore (Rs.1.06 billion) every year due to illegal mining in the state, says a report. Source: IndiaeNews.com: Business News | 18 Jun 2008 | 9:31 am
Anil Ambani Group firm Reliance Big Entertainment is in talks with Steven Spielberg-led DreamWorks Movie Studios to form a joint venture for movies, media reports said here. Source: Daily News & Analysis: Money News | 18 Jun 2008 | 9:30 am
A grey area in the SEZ Act is threatening to hurt the profits of Indian IT companies already battling a US recession and a rising rupee. Not exempting all profits out of SEZ units could put IT companies in jeopardy. Source: Moneycontrol Top Headlines | 18 Jun 2008 | 9:26 am
LONDON (Reuters) - Oil steadied under $134 a barrel on Wednesday after falling for three days, as the market awaited data that is expected to show falling U.S. crude stocks ahead of an emergency meeting in Saudi Arabia aimed at taming prices.
Emaar MGF\'s JV with construction major Leighton will now only take up one of the two projects it was publicly slated to. Nayantara Rai says Leighton may adjust its plans on account of changing market conditions. Emaar MGF though is still confident that its JV wiith Leighton will achieve the targeted revenues of USD 2.5 billion by 2012. Source: Moneycontrol Top Headlines | 18 Jun 2008 | 9:10 am
Tata Communications International, a wholly owned subsidiary of Tata Communications Ltd, will be acquiring 50 percent equity interest in the Beijing headquartered IT solutions provider, China Enterprise Communications Ltd (CEC) Source: IndiaeNews.com: Business News | 18 Jun 2008 | 9:03 am
The problem of rising food prices can be tackled only through global cooperation, Syrian President Bashar al-Assad said here Wednesday. Source: IndiaeNews.com: Business News | 18 Jun 2008 | 9:03 am
The Jammu-Srinagar national highway was re-opened Wednesday morning after remaining closed for nearly two hours and Amarnath pilgrim traffic was allowed to resume onward journey, a police official said. Source: IndiaeNews.com: Business News | 18 Jun 2008 | 9:02 am
MUMBAI (Reuters) - India's gold prices firmed up on Wednesday as the dollar eased overseas and demand remained low as buyers waited for dips, dealers said.
Japanese car major Honda on Wednesday launched the first hybrid car in India, Civic Hybrid, priced at Rs 21.5 lakh (ex-showroom, Delhi). Source: Daily News & Analysis: Money News | 18 Jun 2008 | 8:40 am
The Indian equity markets turned volatile early Wednesday afternoon under selling pressure on banking and technology stocks. Source: IndiaeNews.com: Business News | 18 Jun 2008 | 8:32 am
The crucial meeting between the ruling United Progressive Alliance (UPA) and its Left allies to discuss the future of the India-US civil nuclear pact slated for Wednesday evening has been postponed till June 25. Source: IndiaeNews.com: Business News | 18 Jun 2008 | 8:30 am
Syria had a lot of expectations from a 'rising India' and looked forward to increasing trade with the country, Syrian President Bashar al-Assad said here Wednesday as he kicked off his five-day India visit. Source: IndiaeNews.com: Business News | 18 Jun 2008 | 8:01 am
India's most famous commodity export, Darjeeling tea, is being hit hard by the shutdown in the Himalayan region where it is grown. The country is losing Rs.20 million ($470,000) a day. Source: IndiaeNews.com: Business News | 18 Jun 2008 | 8:01 am
Telecom solutions provider Tata Communications said it would acquire 50 per cent stake in China Enterprise Communications (CEC) for an undisclosed amount. Source: Daily News & Analysis: Money News | 18 Jun 2008 | 7:46 am
Tata Communications net profit dipped to $2.5 million (Rs.100 million) during the fiscal 2008 compared to $3.75 million (Rs.150 million) for the previous year. Source: Daily News & Analysis: Money News | 18 Jun 2008 | 7:25 am
NEW DELHI (Reuters) - Oil Minister Murli Deora has urged oil producing nations to pump extra oil to bring stability to volatile markets ahead of a June 22 meeting of major consumers and producers called by top exporter Saudi Arabia.
The Gujarat Co-operative Milk Marketing Federation Limited has registered a turnover of Rs 52.55 billion in the year 2007-08, which is 22.9 per cent higher than the previous year. Source: Daily News & Analysis: Money News | 18 Jun 2008 | 6:12 am
The country's second biggest truck maker, Ashok Leyland, is looking at de-risking its business model in the face of "many uncertainities in global scenario." Source: Daily News & Analysis: Money News | 18 Jun 2008 | 6:08 am
MUMBAI (Reuters) - The Karnataka High Court has given the nod for the Kingfisher Airlines-Deccan Aviation merger, according to a spokesman for Kingfisher.
The Indian equity markets were flat in initial trade Wednesday, after a mixed opening. There was selling pressure on banking, IT, technology and auto stocks. Source: IndiaeNews.com: Business News | 18 Jun 2008 | 5:00 am
The soaring food prices and the global energy crisis that are glaring at us today have proved many optimists of the past wrong. Some of these optimists had said three decades ago that the world will never have to face the current scenario as had been predicted by some Malthusian thinkers then. Source: IndiaeNews.com: Business News | 18 Jun 2008 | 4:31 am
After rationalising flights and routes, major domestic airlines like Kingfisher, Jet Airways and SpiceJet are introducing sharp cutbacks in staff and salaries to cope with slower passenger growth and rising aviation turbine fuel (ATF) costs. Source: Business Standard | Front Page Headlines | 18 Jun 2008 | 12:29 am
Thiruvananthapuram, June 17 The monsoon depression in the Bay of Bengal has crossed over into Gangetic West Bengal and adjoining Bangladesh, and is expected to keep tracking to the northwest to preside over a productive wet session in east ... Source: Business Line - Home Page | 18 Jun 2008 | 12:00 am
On Tuesday, the stock surpassed the 21-day moving average, accompanied with above-average volume. We recommend a buy.Infosys The stock is pausing at current levels. Avoid trading in this counter for the ... Source: Business Line - Home Page | 18 Jun 2008 | 12:00 am
Russian metals firm OAO Severstal has turned the heat on US steelmaker Esmark for rejecting its $1.24 billion takeover bid in favour of Essar Steel, terming it a "questionable transaction" and demanding that Esmark immediately remove all impediments to its takeover offer. Source: Business Standard | Front Page Headlines | 17 Jun 2008 | 6:34 pm
Sahara India Financial Corporation today got a fresh lease of life, with the Reserve Bank of India (RBI) allowing it to accept fresh deposits that mature in three years. Source: Business Standard | Front Page Headlines | 17 Jun 2008 | 6:32 pm
