Renold has acquired the industrial chain business of LG Balakrishnan for £5.7 million. The UKbased company has picked up 75% stake, while LG Balakrishnan continues to hold 25%. Source: Moneycontrol Top Headlines | 25 Jun 2008 | 3:14 pm
TS Narayanasami, Chairman and MD, Bank of India feels the measures taken by the RBI (Reserve Bank of India) would surely help tame inflation. He said that the profitability of banks would surely be affected. He feels that banks will be under compulsion to revise their PLRs. Source: Moneycontrol Top Headlines | 25 Jun 2008 | 2:53 pm
Idea Cellular has bought 40.8% stake in Spice Communications at Rs 77.30 per share. Kumar Mangalam Birla, who controls Idea said that his company would start operations in four circles including Mumbai and Tamil Nadu, Birla said. Idea has capex plans up to Rs 10000 crore for the next two financial years, he said. Source: Moneycontrol Top Headlines | 25 Jun 2008 | 2:42 pm
NEW DELHI (Reuters) - India's Reliance Industries Ltd will start pumping 25 million standard cubic metres a day (mmscmd) of natural gas from its D-6 field in the Krishna Godavari basin by September, the government said.
BANGALORE (Reuters) - Indian shares snapped a five-day losing run on Wednesday and rose 0.8 percent, after an early slide to a more than one-year low triggered short-covering, but there was little conviction about the recovery.
The Indian equities market ended its five-day losing streak and closed the day in green on the back of short covering by the investors ahead of the expiry of June 2008 derivatives. Source: IndiaeNews.com: Business News | 25 Jun 2008 | 11:31 am
Amitabh Bachchan's AB Corp and Anil Ambani's Reliance Big Entertainment (RBE) have entered into a joint venture for film production. Source: IndiaeNews.com: Business News | 25 Jun 2008 | 11:20 am
The Supreme Court Wednesday ordered restoration of tin fencing around the Sahara group's Sahara City in Lucknow, pulled down by the Uttar Pradesh government Monday evening. Source: IndiaeNews.com: Business News | 25 Jun 2008 | 11:19 am
The announcement by one of the world's richest men two years ago that he intended to switch from the corporate arena to the world of charity sounded like a cliche. Source: Daily News & Analysis: Money News | 25 Jun 2008 | 11:13 am
The board has approved the Idea Cellular deal; buys 40.8% stake in Spice Communications at Rs 77.30 per share. 49 shares for every 100 held will be given. A 20% open offer will be given to Spice Comm shareholders at Rs 77.30 per share. Source: Moneycontrol Top Headlines | 25 Jun 2008 | 11:01 am
T.V. Mohandas Pai, Director of Human Resource at Infosys feels that the economic activity makes us all worried because you have high inflation rate that is getting to be some kind of a dampener to sentiments. According to him, the inflation rates in future could come down in the next threefour months because the food prices are under control. Source: Moneycontrol Top Headlines | 25 Jun 2008 | 10:38 am
India's growth rate will moderate to 7.6 percent during the current fiscal from nine percent a year ago due to deflationary measures of the central bank, global rating agency Moody's said Wednesday. Source: IndiaeNews.com: Business News | 25 Jun 2008 | 10:31 am
Commercial banks are likely to raise prime lending rates (PLR) after the Reserve Bank of India (RBI) Tuesday hiked both the repo rate and cash reserve ratio to combat inflation, top bankers said. Source: IndiaeNews.com: Business News | 25 Jun 2008 | 10:30 am
Industry lobbies have criticised the Reserve Bank of India's (RBI) move Tuesday to increase the repo rate and cash reserve ratio. Source: IndiaeNews.com: Business News | 25 Jun 2008 | 10:30 am
State-owned oil and gas company Oil and Natural Gas Commission (ONGC) has seen its net profit for the quarter ended March 31 dipping to Rs.26.27 billion, from Rs.26.81 billion posted in the quarter ended March 31, 2007. Source: IndiaeNews.com: Business News | 25 Jun 2008 | 10:30 am
The turmoil in the world economic markets is unlikely to have a major effect on India's economy Confederation of Indian Industry's President K V Kamath has asserted. Source: Daily News & Analysis: Money News | 25 Jun 2008 | 10:28 am
Idea Cellular the fifth-largest mobile operator in terms of subscribers will acquire B K Modi-owned Spice group's 40.8 per cent stake for Rs 2,716 crore. Source: Daily News & Analysis: Money News | 25 Jun 2008 | 10:28 am
SINGAPORE (Reuters) - India and China saw bigger growth in the millionaire population last year than anywhere else, and wealth in the Asia-Pacific is expected to grow nearly 8 percent a year to 2012 despite a slowdown in the world at large, a survey showed.
In a setback to operators offering Blackberry services, security agencies are understood to have hardened their stance. Source: Daily News & Analysis: Money News | 25 Jun 2008 | 10:22 am
It\'s going to pinch your pocket a little more if you are planning to fly to Hyderabad. This time, it\'s not the airlines, but the airport which is piling on the charges, reports CNBCTV18. Source: Moneycontrol Top Headlines | 25 Jun 2008 | 10:01 am
The global health food market has grown at an annual rate of 10% for the past few years and India is now catching up. Experts say the market will grow by 2530% in the next few years. Functional foods may be healthy, but expensive and with rising costs, convincing the price sensitive Indian consumer is not going to be easy. Source: Moneycontrol Top Headlines | 25 Jun 2008 | 9:37 am
After 13 years of research and development, India's first electric car 'Reva' was launched in the national capital by Delhi Chief Minister Sheila Dikshit. Source: Daily News & Analysis: Money News | 25 Jun 2008 | 9:30 am
NEW DELHI (Reuters) - India is expected to export a record 4.2 million tonnes of sugar in the crop year to September, exceeding earlier estimates of 3.5 million tonnes, a top trade official said on Wednesday.
India\'s IT big boys ask recruits to sign collateral bonds when they join the company. Satyam takes Rs 2 lac from its new employees for 2 yrs; at HCL Tech it\'s Rs 2 lakh for 1half yr. Sources in the industry say this method is too harsh. Fresh recruits say moving jobs could be avoided if they were paid better. Source: Moneycontrol Top Headlines | 25 Jun 2008 | 9:14 am
MUMBAI (Reuters) - India's gold prices remained little changed on Wednesday and buying interest weak as the metal looked to a U.S. interest rate decision that could give it new direction, dealers said.
Cairn India will begin laying its USD 800 million pipeline to carry crude from the Rajasthan oil fields to the Gujarat coast. The oil field has a peak production capacity of 1,75,000 barrels per day. Crude oil prodn will begin in H2CY09 even as estimates for peak output have been raised by about 17%. Source: Moneycontrol Top Headlines | 25 Jun 2008 | 8:56 am
NEW DELHI (Reuters) - India's headline inflation rate, which hit a 13-year high above 11 percent in early June, will stay in double digits for some weeks and it is difficult to predict when it will peak, a senior finance ministry official said on Wednesday.
ICICI Bank said it would not take steps on revising interest rates in panic even though there is upward pressure on them following RBI's move to further tighten money supply. Source: Daily News & Analysis: Money News | 25 Jun 2008 | 8:45 am
Even as there is talk about starting new Indian Institutes of Technology (IITs) and increasing the number of seats in the existing ones, a move is afoot to open the country's first all-women engineering and technology-oriented institute in Amravati, President Pratibha Patil's hometown in Maharashtra. Source: IndiaeNews.com: Business News | 25 Jun 2008 | 8:31 am
Following are some of the main features of India's first battery-powered car that was launched in the national capital by Chief Minister Sheila Dikshit Wednesday: Source: IndiaeNews.com: Business News | 25 Jun 2008 | 8:31 am
MUMBAI (Reuters) - Cairn India Ltd, a unit of UK's Cairn Energy Plc, sees operating cash flow of $3 billion a year at a crude price of $100 a barrel, its chairman said at a shareholders meet on Wednesday.
YANGON (Reuters) - India will lend Myanmar $84 million for a power project and steel plant, official newspapers reported on Wednesday, another sign of New Delhi's desire to build close ties with its military-run pariah neighbour.
MUMBAI (Reuters) - Investment Information Credit Rating Agency is of the view that more monetary tightening may be needed and sees the Reserve Bank of India taking appropriate measures to bring down inflation, its economic advisor Saumitra Chaudhari told news channel CNBC-TV18.
NEW DELHI (Reuters) - Measures taken by the Reserve Bank of India (RBI) were aimed at moderating aggregate demand, and its policy stance should boost the confidence of foreign and domestic investors, a finance ministry statement said on Wednesday.
A B Corp, the home banner of Bollywood megastar Amitabh Bachchan has entered a joint venture with Anil Ambani's Reliance Big Entertainment for film production. Source: Daily News & Analysis: Money News | 25 Jun 2008 | 7:28 am
Government expressed confidence that Reserve Bank's decision to raise the short term lending interest rate for banks and statuary deposits with the Central bank. Source: Daily News & Analysis: Money News | 25 Jun 2008 | 6:14 am
Sensex on Wednesday lost 375 points to dip below the 14,000 level in early trade on heavy selling by funds in banking and realty stocks. Source: Daily News & Analysis: Money News | 25 Jun 2008 | 5:01 am
Thiruvananthapuram, June 24 Opinion is divided on whether the current lull monsoon phase in the peninsula and the northern plains pitted against the ongoing wet session in the east and northeast constitute a ‘break monsoon’ phase. ... Source: Business Line - Home Page | 25 Jun 2008 | 12:00 am
Bangalore, June 24 When the hardware and software giants in an industry become one, is that cause for worry or celebration? Nokia is the world’s undisputed handset leader, 4 of 10 mobile phones sold anywhere, roll out of a Nokia ... Source: Business Line - Home Page | 25 Jun 2008 | 12:00 am
Thiruvananthapuram, June 24 The European Centre for Medium-Range Weather Forecasts (ECMWF) has stuck to its outlook on the monsoon coming back to life helped on by the twin ‘props’ emerging from the peninsular seas. Two ... Source: Business Line - Home Page | 25 Jun 2008 | 12:00 am
Apollo Hospitals Enterprise Ltd achieved a turnover of Rs 1,150 crore for 2007-08, crossing the Rs 1,000-crore mark for the first time in its history.Turnover for the year was up 28 per cent, over the previous year’s Rs 899 crore. ... Source: Business Line - Home Page | 25 Jun 2008 | 12:00 am
India has the highest number of nationals working abroad who acquire skill-sets, including higher education, on the job Source: Daily News & Analysis: Money News | 24 Jun 2008 | 10:14 pm
Besieged by rising steel prices, the domestic passenger car manufacturers are gearing up to raise prices again. Source: Business Standard | Front Page Headlines | 24 Jun 2008 | 7:11 pm
Led by the record increase in benchmark iron ore prices, steel rates are set to climb steeply from August, immediately after the three-month period during which steel producers had promised the government to hold prices gets over. Source: Business Standard | Front Page Headlines | 24 Jun 2008 | 7:10 pm
The Wadia family-owned GoAir, the country's smallest low-cost carrier, has decided to retrench 10 per cent of its staff. Source: Business Standard | Front Page Headlines | 24 Jun 2008 | 7:09 pm
Civil Aviation Minister Praful Patel today said that airports need to give bleeding Indian carriers some relief by decreasing landing and parking charges. Source: Business Standard | Front Page Headlines | 24 Jun 2008 | 7:09 pm
Banks look set to increase lending rates with the Reserve Bank of India today unveiling a two-pronged "painful" correction process to tame inflation. Source: Business Standard | Front Page Headlines | 24 Jun 2008 | 7:08 pm
