Hyderabad gulps 10 12 % of the beer consumed in the country. Last year Hyderabad devoured 14 lakh hectoliters of beer, and this market is estimated to grow to 150 million dollars by 2011. Source: Moneycontrol Top Headlines | 21 Jun 2008 | 2:34 pm
The new Karnataka government has already asked the centre for Rs 5,000 crore to improve the city\'s infrastructure. One homegrown company Purvankara has decided to fix the problem on its own. It has started developing roads for its projects on its own expense. Source: Moneycontrol Top Headlines | 21 Jun 2008 | 2:28 pm
Think IT, think South India. Bangalore, Chennai and Hyderabad have seen unprecedented growth in the last decade owing to the growth of the information technology sector.As to what these new BPO towns look like, the next BPO city and our first stop is at Mysore. Source: Moneycontrol Top Headlines | 21 Jun 2008 | 1:42 pm
TCS is urging its employees to cut down these numbers by pooling cars, video conferencing and even using software more efficiently. But It\'s not a cost cutting spree, it is TCS\' contribution to the crude crisis. Source: Moneycontrol Top Headlines | 21 Jun 2008 | 1:41 pm
High inflation is going to take its toll on your bank deposits too. But there are some options that can still make investing worth your while. Going by past performance, experts say gold may be the best bet. It has given average returns of 34% in the last year, beating inflation by 22.95%. Source: Moneycontrol Top Headlines | 21 Jun 2008 | 1:19 pm
With inputs like raw materials and energy making up for most of their costs, the infrastructure and metal sectors will feel the pinch of inflation the most. It will dampen consumer sentiment but may not stall the investment plans of automakers. Both FMCG and durable companies are expecting a slowdown in the consumer buying habits. Source: Moneycontrol Top Headlines | 21 Jun 2008 | 12:34 pm
Pharmaceutical major Ranbaxy
laboratories, in which Japan`s Daiichi Sankyo will acquire the
majority stake, has said it would continue to pursue
acquisitions despite the change in ownership. Source: Zee News : Business | 21 Jun 2008 | 12:30 pm
A double-digit inflation rate has been a rarity in Indian economy and it was only in early 1990s and during 1994\95 that inflation hovered above the ten per cent mark, according to the website of Reserve Bank of India. Source: Zee News : Business | 21 Jun 2008 | 12:30 pm
The Supreme Court of Canada has
ruled that the USD 35 billion leveraged buyout of BCE Inc,
the largest in history, can go ahead. Source: Zee News : Business | 21 Jun 2008 | 12:30 pm
A US district court judge in San
Diego ruled that Microsoft Corp must pay Alcatel-Lucent
USD 511.6 million for infringing on two patents, marking the
latest move in a 5-year-old patent scuffle between the two
companies. Source: Zee News : Business | 21 Jun 2008 | 12:30 pm
Japan ratified a free trade accord with the Association of Southeast Asian Nations on Saturday as the country`s divided Parliament ended its session. Source: Zee News : Business | 21 Jun 2008 | 12:30 pm
Saudi Arabia's leading point-of-sales (PoS) solutions provider Intersoft will outsource its retail software solution to Bangalore-based Taranag Software to ensure secure payment transactions. Source: IndiaeNews.com: Business News | 21 Jun 2008 | 12:30 pm
The first impact of higher inflation has already come in. HDFC Bank raised its benchmark primelending rate by quarter percent to 15.25%. Sources in other banks like SBI and ICICI also said they will review rates shortly in the light of changed circumstances. But bankers are divided on how these imminent rate hikes will impact the economy. Source: Moneycontrol Top Headlines | 21 Jun 2008 | 11:58 am
Ashish Kapur set up a Chinese fast food chain Yo! China with 5 people, and a market with a massive appetite for Tom Yums and Dim Sums. He invested Rs 70 lakh and in true Kung Fu style, fought off competition from roadside Chinese stalls and standalone Chinese restaurants and earned himself a black belt in the organized fast food retail biz. Source: Moneycontrol Top Headlines | 21 Jun 2008 | 11:47 am
Bharti Foundation will open 500 primary and 50 senior secondary-cum-vocational training schools for underprivileged children across rural India under its Satya Bharti School Programme. Source: Daily News & Analysis: Money News | 21 Jun 2008 | 11:20 am
Private sector bank HDFC has increased its benchmark prime lending rate (PLR) by 25 basis points. Source: IndiaeNews.com: Business News | 21 Jun 2008 | 11:01 am
BHUBANESWAR, India (Reuters) - One man was killed and two others were injured in clashes between supporters and opponents of South Korea's POSCO planned steel plant in a village in Orissa, police said on Saturday.
JEDDAH, Saudi Arabia (Reuters) - World oil powers gathering for an emergency meeting in Jeddah this weekend are unlikely to make any major decisions, Libya's top oil official said on Saturday, dousing hope for measures to tame oil's ascent.
NEW DELHI (Reuters) - The Reserve Bank of India (RBI) is expected to take some more action to counter rising inflation and the government will also take further steps to calm prices, a statement by the finance ministry said on Saturday.
ICICI Bank will focus on private banking, wealth management and advisory services, and raising lowcost deposits within the retail segment this fiscal, said Mr V Vaidyanathan, Executive Director, ICICI Bank. Source: Moneycontrol Top Headlines | 21 Jun 2008 | 8:49 am
TEHRAN (Reuters) - A senior Iranian oil official said he expected crude prices to rise in coming days with the approach of summer, a newspaper reported on Saturday.
Economic valueadded (EVA) growth for both the Indian IT biggies, TCS and Infosys, for the year just ended, is the slowest compared to EVA growth both companies had shown in each of the previous three years. Source: Moneycontrol Top Headlines | 21 Jun 2008 | 8:47 am
DUBAI (Reuters) - Luxury sports cars, gas-guzzling SUVs, even tank-like Hummers all jostle for space on Gulf highways, their owners buoyed by record oil prices that have forced some motorists to ditch cars for bicycles in the West.
Y V Reddy on Saturday met Prime Minister Manmohan Singh and is understood to have discussed steps needed to be taken to control the prices. Source: Daily News & Analysis: Money News | 21 Jun 2008 | 8:27 am
One person died and two were injured after clashes broke out in a village in Orissa's Jagatsinghpur district over the setting up of a steel plant by South Korean Major Posco, police said Saturday. Source: IndiaeNews.com: Business News | 21 Jun 2008 | 7:33 am
Indian equity markets touched their lowest point in the year so far in the week gone by, due to soaring inflation and rising global crude oil price. Three out of five trading sessions in the week ended deep in the red. Source: IndiaeNews.com: Business News | 21 Jun 2008 | 7:32 am
National Security Adviser M.K. Narayanan is to adjudicate on the sensitive spectrum issue that could see the defence forces vacating idle radio frequencies for civilian communications like mobile telephony, Minister of State for Defence Pallam Raju has said. Source: IndiaeNews.com: Business News | 21 Jun 2008 | 4:31 am
The Indian government will launch a nationwide survey to study the life led by some 68 million people living in slums across the country. Source: IndiaeNews.com: Business News | 21 Jun 2008 | 3:30 am
Leading private airline Kingfisher Airlines and low-cost airline Deccan Air late Friday evening announced an increase in their minimum base fares across categories with effect from Saturday to check losses arising out of soaring aviation turbine fuel price. Source: IndiaeNews.com: Business News | 21 Jun 2008 | 1:31 am
New Delhi-based contemporary artist Subodh Gupta's untitled work of steel vessels soared past S.H. Raza's 'Germination' to record a high of Rs.57 million ($1.43 million) at Saffronart's summer online auction, which registered a total sale value of Rs.390 million ($9.7 million). Source: IndiaeNews.com: Business News | 21 Jun 2008 | 1:30 am
NEW YORK (Reuters) - U.S. stocks will be vulnerable to any further talk of dividend cuts, capital-raising plans or write-downs from the financial sector next week after a fresh wave of turmoil among banks pushed the market down to three-month lows.
If the fight to get the Indian government to lower taxes on imported liquor was long drawn and hard, the new challenge to what the Scotch Whisky Association (SWA) holds dear might turn out to be tougher. This time around, the UB Group Chairman, ... Source: Business Line - Home Page | 21 Jun 2008 | 12:00 am
Mumbai June 20 A rights issue of up to Rs 5,000 crore, domestic or international debt financing and liquidation of treasury form part of a finance plan unveiled by Hindalco Industries Ltd on Friday to refinance a $ 3.03-billion bridge loan it ... Source: Business Line - Home Page | 21 Jun 2008 | 12:00 am
India is likely to have a normal monsoon during the agriculturally crucial July-August-September quarter, with surplus precipitation indicated for the north Madhya Pradesh-east Rajasthan-Uttar Pradesh belt. This is according to the ... Source: Business Line - Home Page | 21 Jun 2008 | 12:00 am
Members of the Association of European Airlines indicate that their fuel bill constitutes 13.3 per cent of their total operating expenses, whereas for Indian carriers the fuel bill constitutes 45-50 per cent of the operating expenses. Source: Business Line - Home Page | 21 Jun 2008 | 12:00 am
Mumbai, June 20 Over 200 brokers and traders were fined up to Rs 5 lakh by the Bombay Stock Exchange for speculative trading in the scrips of KGN Industries and Sylph Technologies. KGN Industries and Sylph Technologies were re-listed on ... Source: Business Line - Home Page | 21 Jun 2008 | 12:00 am
Governments around the world now fear inflation more than global terrorism, a fund manager said last week.
The bloodless terror already has the Indian government on its knees Source: Daily News & Analysis: Money News | 20 Jun 2008 | 10:27 pm
But there's no immediate risk to GDP growth,HSBC economist
Robert Prior-Wandesforde tells DNA Money Source: Daily News & Analysis: Money News | 20 Jun 2008 | 10:24 pm
The civil aviation minister Praful Patel appears to have been put on the backfoot by a clutch of employees of the national carrier Air India. Source: Daily News & Analysis: Money News | 20 Jun 2008 | 10:23 pm
The proposal is pending with the Union Cabinet and is likely to be presented in the parliament in its next session. Source: Daily News & Analysis: Money News | 20 Jun 2008 | 10:22 pm
The Union coal ministry has invited applications for allocations of captive blocks for converting coal into liquid fuel like petrol, diesel and others. Source: Daily News & Analysis: Money News | 20 Jun 2008 | 10:20 pm
In May, no-frills airlines -- SpiceJet, IndiGo, Go Air and JetLite -- collectively captured 49% of the domestic aviation market to inch closer to the full-service carriers' market share of 51%. Source: Daily News & Analysis: Money News | 20 Jun 2008 | 10:18 pm
Spencer's Retail, a part of the RPG group and a wholly owned subsidiary of the Kolkata-headquartered CESC, is planning to invest Rs 2,500 over the next two years to expand its retail network, a senior company official said. Source: Daily News & Analysis: Money News | 20 Jun 2008 | 10:14 pm
South Korean chaebol LG Electronics is likely to enhance its mobile phone manufacturing capabilities in India to export to Europe and CIS countries. Source: Daily News & Analysis: Money News | 20 Jun 2008 | 10:11 pm
NEW DELHI (Reuters) - Soaring inflation and slowing growth in India will not affect foreign investment flows, as these phenomena are not unique to the economy and the country still holds more attractions than others, KPMG said on Friday.
Driven by increasing investments, the Indian fashion industry is expected to reach Rs.7.5 billion by 2012, almost double its current size of Rs.2.9 billion, the Associated Chambers of Commerce and Industry of India (Assocham) said in a report released Friday. Source: IndiaeNews.com: Business News | 20 Jun 2008 | 4:30 pm
Availability of finance and the changing economic scenario globally may see a drop in overseas acquisitions by Indian companies. A deal that was possible in 2007 may not be considered so this year owing to the changed economic environment - inflation, increasing interest costs and others, according to a leading business consultant firm. Source: IndiaeNews.com: Business News | 20 Jun 2008 | 3:30 pm
NEW DELHI (Reuters) - The twin engines of emerging Asian economic growth were grappling with the effects of soaring oil costs on Friday as India's inflation hit 13-year peaks and investors weighed the impact of higher fuel prices in China.
NEW DELHI (Reuters) - Inflation shot above 11 percent in early June to a 13-year high following a rise in state-set fuel prices, rattling markets and prompting the finance minister to warn of stronger anti-inflation measures ahead.
