Essar Steel has withdrawn its USD 1.2billion bid for USbased steel company Esmark. The move comes after Russian company Severstal bid significantly higher offering USD 19.25 a share, against Essar\'s offer of USD 19 per share. The Russian bid is also supported by the Esmark union. Source: Moneycontrol Top Headlines | 26 Jun 2008 | 4:55 pm
MTN is concerned that the Ambani feud may derail their deal with Reliance Communications reports CNBCTV18 quoting sources. Meanwhile, MTN did not comment on the speculation. They have made no definitive statement beyond the cautionary announcement. Source: Moneycontrol Top Headlines | 26 Jun 2008 | 4:54 pm
The big news is that State Bank of India (SBI) has raised its Primary Lending Rates (PLR) by 50 bps to 12.75%. Ashok Mukund, CFO of SBI said, \"All our loans, which are on floating rate will be increased by the extent of the float and the loans on our fixed rates will continue to be on fixed rates.\" Source: Moneycontrol Top Headlines | 26 Jun 2008 | 4:14 pm
US Jha, CMD, Rashtriya Chemical Fertilisers, has welcomed the government\'s new fertiliser policy. \"There was uncertainty as there was no policy. Three months have now passed. We also welcome the import parity concept, because this is a market driven policy. The outlier concept has been brought to remove certain distortions.\" Source: Moneycontrol Top Headlines | 26 Jun 2008 | 3:13 pm
Utpal Sengupta, President, Agro Tech Foods, said oil prices will remain stable despite oilseed acreage rising. \"It will probably remain at that level for sometime now. It is a correction of some historical facts as agricultural prices had not moved up over the last 10 years or so.\" Source: Moneycontrol Top Headlines | 26 Jun 2008 | 3:11 pm
Nitin Jain, Managing Director, ISec Primary Dealership feels that the trend in the manufacturing inflation prices is up and till that break comes decisively the bias for inflation number has to be going up. So 12% is possible if there is no softening of the trend, he added. Source: Moneycontrol Top Headlines | 26 Jun 2008 | 3:01 pm
Vellayan, the Chairman of Coromandel Fertilisers said it is a very realistic policy, and it recognizes market realities world over. The longterm view will change the dynamics positively for the company because now they can take a long term view on investment overseas to source material and make investments. Source: Moneycontrol Top Headlines | 26 Jun 2008 | 2:56 pm
GMR picked up 50% stake in USbased Intergen for USD 1.1 billion. Madhu Terdal, Executive Vice President of International Business Development at GMR Infrastructure said this landmark transaction is going to change the entire profile of the GMR Group and the entire power industry. Source: Moneycontrol Top Headlines | 26 Jun 2008 | 2:56 pm
Online addresses would soon look a lot more diversified as the organization that oversees web identities is expected to approve a proposal Source: Daily News & Analysis: Money News | 26 Jun 2008 | 1:39 pm
Yahoo has sent a letter to stockholders defending its alliance with Google and criticising Carl Icahn's campaign to install a Microsoft- friendly board of directors. Source: Daily News & Analysis: Money News | 26 Jun 2008 | 1:35 pm
Essar group withdrew its 1.2-billion-dollar bid on Thursday for acquiring US-based steel company Esmark following a higher bid Source: Daily News & Analysis: Money News | 26 Jun 2008 | 1:34 pm
NEW DELHI (Reuters) - The mines ministry said on Thursday it was opposed to the export tax on iron ore and wanted to encourage local companies to sell overseas as the country had enough reserves to feed local demand for a century.
NEW DELHI (Reuters) - Indian inflation, which hit a 13-year high of 11.05 percent in early June, will stay in double digits for "some weeks" and is expected to start moderating after three months, the finance minister told a news channel.
LISBON (Reuters) - Microsoft has agreed to buy Portuguese mobile software company MobiComp in the U.S. software giant's biggest ever investment in Portugal, Microsoft's chief in Portugal said on Thursday.
Tata Steel said on Thursday that its consolidated net profit rose nearly three-fold to Rs 12,349.98 crore for the year ending March 31, 2008 Source: Daily News & Analysis: Money News | 26 Jun 2008 | 1:04 pm
MUMBAI (Reuters) - Tata Steel, the world's sixth-largest steelmaker, on Thursday reported a tripling in consolidated net profit for the 2007/08 financial year largely due to its purchase of Corus Group.
The management of Niko Resources has said that the D6 oil and natural gas production is expected to commence in Q3CY08. R1 exploration well in D6 adds 2.2 trillion cube feet to the bestcase contingent reserve. Source: Moneycontrol Top Headlines | 26 Jun 2008 | 12:42 pm
The Cabinet Committee on Economic Affairs (CCEA) Thursday approved a $437 million investment by the state-run overseas exploration body ONGC Videsh Limited in offshore oil blocks in Trinidad and Tobago and Brazil. Source: IndiaeNews.com: Business News | 26 Jun 2008 | 12:31 pm
The country's largest public sector bank, the State Bank of India (SBI), Thursday hiked its benchmark prime lending rate (PLR) by 0.5 percent to 12.75 percent annually. Source: IndiaeNews.com: Business News | 26 Jun 2008 | 12:30 pm
The Cabinet Committee on Economic Affairs Thursday cleared the take over of the Bharat Wagons and Engineering Ltd (BWEL) by the ministry of railways from the department of heavy industry. Source: IndiaeNews.com: Business News | 26 Jun 2008 | 12:30 pm
UTI-Opportunities Fund has declared a tax-free dividend of 18 per cent (Rs 1.80 per unit on face value of Rs 10). Source: Daily News & Analysis: Money News | 26 Jun 2008 | 12:29 pm
Nitin Kasliwal, MD, S Kumars said that Reid Taylor had contributed to 45% of the FY08 consolidated EBITDA of S Kumars Nationwide. Kasliwal added that he plans to list Reid Taylor in the next two to three years and Brandhouse retail would be listed in the next two to three weeks. Source: Moneycontrol Top Headlines | 26 Jun 2008 | 12:20 pm
World energy demand will grow 50 percent over the next two decades, oil prices could rise to USD 186 a barrel and coal will remain the biggest source of electricity despite its effect on global warming, US
government experts predict. Source: Zee News : Business | 26 Jun 2008 | 11:58 am
Terming the Indo-US relationship as a major factor for the growth and success of the global economy, the Washington has said that it remains "absolutely committed" to a bilateral investment treaty with New Delhi. Source: Zee News : Business | 26 Jun 2008 | 11:58 am
Ruias controlled conglomerate Essar Thursday withdrew its USD 1.2 billion bid for acquisition of US steel company Esmark in the face of a higher
bid by Russian steel giant Severstal which is supported by the Union. Source: Zee News : Business | 26 Jun 2008 | 11:58 am
US Federal Reserve decided on Wednesday to leave a key interest rate unchanged and cited a heightened risk of inflation, which could lead to rate increases down the road. Private analysts said the Fed may delay the first rate hike until December. Source: Zee News : Business | 26 Jun 2008 | 11:58 am
The Bombay Stock Exchange benchmark
Sensex Thursday gained 170 points in early trade as funds bought
heavy weight shares led by Reliance Industries. Source: Zee News : Business | 26 Jun 2008 | 11:58 am
Japanese technology giant Sony Corp on Thursday said it aims to double the revenues from Brazil, Russia, India and China to two trillion yen (about USD 18.6 billion) in the next three years. Source: Daily News & Analysis: Money News | 26 Jun 2008 | 11:57 am
MUMBAI (Reuters) - State-run Union Bank of India has raised its benchmark prime lending rate by 50 basis points to 13.25 percent, an official said on Thursday.
The Indian equities market ended the day in green on the back of buying in heavyweight scrips Thursday. Oil and Gas, Metal and IT stocks were in demand. Source: IndiaeNews.com: Business News | 26 Jun 2008 | 11:31 am
: The diversified Kesoram Industries Ltd will not be split for the time being, company chairman Basant Kumar Birla said Thursday. Source: IndiaeNews.com: Business News | 26 Jun 2008 | 11:30 am
The Netherlands-based communication firm Nokia Siemens Networks B.V. will set up a Rs.3-billion plant at Oragadam near here. Source: IndiaeNews.com: Business News | 26 Jun 2008 | 11:30 am
BANGALORE (Reuters) - Indian shares rose 1.4 percent on Thursday, powered by gains in Reliance Industries, but investors were circumspect on expectation annual inflation rate would stay in double digits for some weeks.
Growth momentum continued in the world's fastest-growing and second-largest mobile telephony market as over 8.5 million wireless subscribers were added in May. Source: Daily News & Analysis: Money News | 26 Jun 2008 | 10:46 am
Displaying its prowess in the field of information technology, India will be setting up an e-networking infrastructure in 53 African nations to share its expertise in the field of medicine and education. Source: IndiaeNews.com: Business News | 26 Jun 2008 | 10:32 am
Fashion diva Ritu Kumar firmly believes India is becoming the flavour of the world - and proof of this is the best costume award she won at the Miss Universe contest. Source: IndiaeNews.com: Business News | 26 Jun 2008 | 10:31 am
Integrated telecommunications major Reliance Communications Ltd Wednesday launched a new Motorola W362 handset here as part of its growth strategy. Source: IndiaeNews.com: Business News | 26 Jun 2008 | 10:30 am
Double-digit inflation is likely to continue for a few more weeks before government efforts kick in to ease the rate of price rise, Finance Minister P Chidambaram has said. Source: Daily News & Analysis: Money News | 26 Jun 2008 | 10:15 am
NEW DELHI (Reuters) - India will continue with measures to contain inflation and steps already taken will help moderate prices in two months, Commerce and Industry Minister Kamal Nath said on Thursday.
MUMBAI (Reuters) - India's largest lender, State Bank of India, said on Thursday it was raising its benchmark prime lending rate by 50 basis points to 12.75 percent with effect from Friday.
MUMBAI (Reuters) - Standard and Poor's on Thursday cut India's economic growth forecast for the fiscal year that began in April to 7.8 percent from 8.1 percent, citing high inflation and rising interest rates.
State-run Bharat Heavy Electricals Ltd on Thursday said it has bagged a Rs 506 crore contract from Oil Natural Gas Corporation for upgradation of drilling rigs. Source: Daily News & Analysis: Money News | 26 Jun 2008 | 9:05 am
MUMBAI (Reuters) - India's annual inflation rate is expected to have jumped to a fresh 13-year high in mid-June as the effect of higher fuel prices spread to the broader economy, a Reuters poll showed on Thursday.
Possibly for the first time in the history of industry associations in India, apex body CII has mandated public relations agency Vaishnavi Corporate Communication. Source: Daily News & Analysis: Money News | 26 Jun 2008 | 7:16 am
Mumbai, June 25 Idea Cellular, which is buying 40.8 per cent stake in Spice Communications, will pay an additional Rs 544 crore to the promoters of Spice group as ‘non-compete fee’. A section of analysts sees it as a way of ... Source: Business Line - Home Page | 26 Jun 2008 | 12:00 am
Thiruvananthapuram, June 25 India Meteorological Department’s (IMD) outlook for the next few days suggests that rain or thundershowers would be fairly widespread across the country with the west coast and the northwest coming under ... Source: Business Line - Home Page | 26 Jun 2008 | 12:00 am
The stock has formed a spinning top candlestick pattern, indicating indecisiveness. Avoid trading in this counter for the session. Infosys In line with our anticipation, the stock fell in the last trading day. ... Source: Business Line - Home Page | 26 Jun 2008 | 12:00 am
In the largest acquisition of a global energy utility by an Indian company, GMR Infrastructure has bought 50 per cent in the Netherlands-based power generation company, InterGen NV for $1.1 billion (approximately Rs 4,694 crore). Source: Business Standard | Front Page Headlines | 25 Jun 2008 | 7:07 pm
With another rise in interest rates imminent, India Inc's confidence on future investments and fund-raising has taken a hard knock. Source: Business Standard | Front Page Headlines | 25 Jun 2008 | 7:06 pm
Indian airlines today filled aviation turbine fuel (ATF) into the tanks of their aircraft at Rs 68,000 a kilolitre. Source: Business Standard | Front Page Headlines | 25 Jun 2008 | 7:05 pm
