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Govt playing favourite on imposing windfall tax: Amar SinghAmar Singh, General Secretary, Samajwadi Party, once again alleged today that Petroleum Minister Murli Deora was favoring certain corporates imposing a windfall profit tax on private oil companies or changing the export oriented unit statement, which is for private refineries.Source: Moneycontrol Top Headlines | 8 Jul 2008 | 7:00 pm We are interested in SpiceJet: Wilbur RossAmerican billionaire Wilbur Ross said he is interested in SpiceJet. We have held talks with the company.Source: Moneycontrol Top Headlines | 8 Jul 2008 | 6:30 pm SC allows Tata Power to sell power below 1000 KvA directlyThe Supreme Court has allowed Tata Power to sell power below 1,000 KvA directly, reports CNBCTV18, quoting Newswire18. The company is awaiting the full order from the Supreme Court. Earlier, the apex court had earlier set aside a Maharashtra Electricity Regulatory Commission, or MERC order.Source: Moneycontrol Top Headlines | 8 Jul 2008 | 6:26 pm SAT dismisses Sebi directive on Mysore Cem open offerThe SAT has dismissed the Sebi directive on the Mysore Cement open offer. Accordingly, Heidelberg need not offer noncompete fee to minority shareholders. Heidelberg had made an open offer at Rs 58 per share to Mysore Cement shareholders. It paid Rs 72.50 per share.Source: Moneycontrol Top Headlines | 8 Jul 2008 | 3:45 pm SAP ruling may not stand in SC: Mawana SugarsStocks that have taken a beating today have been the sugar sector stocks especially the one that hail from the state of Uttar Pradesh. Siddharth Shriram, CMD of Mawana Sugars said, Its a very strange judgement and will perhaps not stand the scrutiny of a challenge in Supreme Court, which of course will happen.Source: Moneycontrol Top Headlines | 8 Jul 2008 | 3:28 pm Govt to seek confidence vote after president nodNEW DELHI (Reuters) - The government will seek a vote of confidence in parliament as soon it receives a formal notice from the president, the foreign minister said on Tuesday, after the ruling coalition's left allies withdrew support.Source: Reuters: Money News | 8 Jul 2008 | 2:19 pm Use forex reserves to check inflation - SPNEW DELHI (Reuters) - The Samajwadi Party (SP), whose support appears crucial for the survival of the government, wants the ruling coalition to use the country's foreign exchange reserves to check the depreciation of the rupee and inflation.Source: Reuters: Money News | 8 Jul 2008 | 2:14 pm Oil dives below $139 on easing storm concernsLONDON (Reuters) - Oil fell below $139 on Tuesday, dropping by more than $6 this week, due to easing concerns over an Atlantic hurricane and the falling price of refined products.Source: Reuters: Money News | 8 Jul 2008 | 2:11 pm Wall St opens lower but rebounds as oil slipsNEW YORK (Reuters) - U.S. stocks opened lower but quickly rebounded on Tuesday as a sharp pullback in oil prices helped the broad market and comments from Federal Reserve Chairman Ben Bernanke tempered credit concerns.Source: Reuters: Money News | 8 Jul 2008 | 2:06 pm Siemens to cut 16,750 jobs amid economic downturnFRANKFURT (Reuters) - German industrial conglomerate Siemens AG plans to cut around 4 percent of its workforce worldwide as part of an overhaul and as a result of the global economic downturn, Siemens said on Tuesday.Source: Reuters: Money News | 8 Jul 2008 | 2:04 pm Key economy-related quotes on Left withdrawing supportThe following are some key quotes from India Inc. and economists following the Left parties' withdrawal of support to the coalition government:Source: IndiaeNews.com: Business News | 8 Jul 2008 | 2:01 pm 'Energy efficiency only way to fight soaring demand'The global energy demand will be double by 2050 and becoming energy efficient is the only way to fight problems like soaring demand and green house emissions that cause climate change, according to global energy management specialist Jean-Pascal Tricoire.Source: IndiaeNews.com: Business News | 8 Jul 2008 | 2:01 pm KZen Equities launches operations in IndiaKZen Equities, an Indian incorporated private investment advisory, launched its operations here Tuesday. The firm will help Indians invest outside the country in select global equity investment opportunities.Source: IndiaeNews.com: Business News | 8 Jul 2008 | 2:00 pm KSR line accorded world heritage status - Business Standard
Source: Google News India - Business | 8 Jul 2008 | 1:44 pm RBI asks banks to adhere to guidelines on SME credit - Hindu
Source: Google News India - Business | 8 Jul 2008 | 1:43 pm AMD launches teraFlops graphic cards for Bollywood - Economic Times
Source: Google News India - Business | 8 Jul 2008 | 1:35 pm Bharti AXA starts India operations, launches 2 funds - Reuters India
Source: Google News India - Business | 8 Jul 2008 | 1:28 pm Tata Motors introduces Super Milo buses - Economic Times
Source: Google News India - Business | 8 Jul 2008 | 1:22 pm G8 backs PM's take on soaring oil prices - NDTV.com
Source: Google News India - Business | 8 Jul 2008 | 1:21 pm RCom, RIL shares plunge nearly 2 - Economic Times
Source: Google News India - Business | 8 Jul 2008 | 1:10 pm Indian shares end lower but off intra-day low - Forbes
Source: Google News India - Business | 8 Jul 2008 | 1:02 pm Power stocks unlikely to benefit from N-deal - Economic Times
Source: Google News India - Business | 8 Jul 2008 | 1:01 pm Ban on multi-brand foreign retailers likely to stayThe ban on foreign investment in multi-brand retailing, which has kept global players like Wal-Mart and Carrefour from committing some big-ticket investment in India, is likely to continue, despite the emergence of a fresh political dispensation, experts said Tuesday.Source: IndiaeNews.com: Business News | 8 Jul 2008 | 1:00 pm HSBC India launches new product for small businessesHong Kong and Shanghai Banking Corp's (HSBC) India unit Tuesday launched a new product, HSBC Direct, here for small businesses.Source: IndiaeNews.com: Business News | 8 Jul 2008 | 1:00 pm 'Left's exit will not affect West Bengal industry'The Left parties' decision to withdraw support to the United Progressive Alliance (UPA) government would have no bearing on the state's industrial prospects, say business barons and chambers in the Left citadel of West Bengal.Source: IndiaeNews.com: Business News | 8 Jul 2008 | 1:00 pm S&P maintains ratings on Tata Motors under Watch Negative - Economic Times
Source: Google News India - Business | 8 Jul 2008 | 12:46 pm Rupee edges up; unfazed by political dramaMUMBAI (Reuters) - The Indian rupee ended slightly stronger on Tuesday, helped by a partial recovery of sharp falls in the stock market after the communist parties withdrew their support for the ruling coalition and another party offered backing.Source: Reuters: Money News | 8 Jul 2008 | 12:45 pm Rich club to press emerging heavyweights for WTO dealTOYAKO, Japan (Reuters) - Leaders of rich countries will press counterparts from China, Brazil and other emerging economies on Wednesday to help rescue a global trade deal, less than two weeks before the negotiations face a critical test.Source: Reuters: Money News | 8 Jul 2008 | 12:31 pm As Left pulls out, India Inc. hopes for push to reformsWith the Left Front withdrawing support to the United Progressive Alliance (UPA) government Tuesday, India Inc. hopes the slow-moving economic reforms will now be put on the fast track.Source: IndiaeNews.com: Business News | 8 Jul 2008 | 12:31 pm 'Political uncertainty a bad omen for economy'The current bout of political uncertainty in India could not have come at a worse time, with experts fearing that the fluid political situation will not help in checking inflation.Source: IndiaeNews.com: Business News | 8 Jul 2008 | 12:30 pm World stocks at 21-month low as banks plungeLONDON (Reuters) - Fresh credit fears swept global financial markets on Tuesday, pushing world stocks to their lowest levels since October 2006 as concerns intensified that the financial sector would have to raise more capital.Source: Reuters: Money News | 8 Jul 2008 | 11:40 am SBI seeks RBI nod to MTM 25% of govt bondsState Bank of India is seeking RBI nod to marktomarket only 25% of Rs 9996 crore of government bonds. SBI can sell only 25% of government given bonds in Q1.Source: Moneycontrol Top Headlines | 8 Jul 2008 | 11:36 am Muthoot group plans radio business growth through acquisitionsThe Kerala-based Muthoot group, with business interests in finance, real estate, healthcare and education, wants to acquire FM radio stations, a top company official said here Tuesday.Source: IndiaeNews.com: Business News | 8 Jul 2008 | 11:32 am Toonz to animate tales of Lord ShivaToonz Animation India Pvt Ltd, the makers of animation classics like 'The Adventures of Tenali Rama' and 'Return of Hanuman', is now all set present tales of Lord Shiva.Source: IndiaeNews.com: Business News | 8 Jul 2008 | 11:32 am Indian markets relieved Left gone, but see challengesMUMBAI (Reuters) - India's markets were relieved to see the back of the government's leftist allies and the swift promise of support to the ruling coalition from a pro-business party on Tuesday, but soaring inflation meant the reaction was muted.Source: Reuters: Money News | 8 Jul 2008 | 11:27 am Indian shares drop 1.3 pct but see hope in left exitNEW DELHI (Reuters) - Indian shares fell 1.3 percent on Tuesday after global credit woes rattled markets across the globe, but the exit of communist allies of the government helped shore up sentiment on hopes the move would help push reforms.Source: Reuters: Money News | 8 Jul 2008 | 11:19 am Govt may levy additional cess: Subir RahaSubhir Raha Ex Chairman of ONGC said that the Ministry of Finance is the biggest beneficiary of windfall gains due to the high oil prices. He feels that the government could levy an additional cess. He said that the cess on ONGC is specific tax which is currently at Rs 2,500 per tonne.Source: Moneycontrol Top Headlines | 8 Jul 2008 | 11:18 am iGATE seeing some project cutbacks, cancellationsPhaneesh Murthy, CEO of iGATE said that his company has seen some project cutbacks and cancellations. Since the budgeting season in US is drawing near, he estimates that this may not be a positive year; he has seen weariness in the tech budget allocations in the US.Source: Moneycontrol Top Headlines | 8 Jul 2008 | 11:11 am SAP ruling worst news for UP sugar mills: Balrampur ChiniAllahabad High court has set SAP at Rs 125 per quarter for FY08. SAP has been upheld from Rs 110 to Rs 125. Vivek Saraogi of Balrampur Chini said that it may bear additional Rs 120 crore due to SAP ruling and will post losses post SAP ruling. Saraogi said that the SAP ruling is by far the worst news for sugar mills in Uttar Pradesh.Source: Moneycontrol Top Headlines | 8 Jul 2008 | 10:24 am Ambani brothers in tussle over airport hangar caseIt\'s a long waiting game that the two Ambani brothers are choosing to play for claiming the land at Mumbai\'s Chatrapati Shivaji International Airport. The pending airport hangar case case came up for hearing after more than a month at the Bombay High Court today.Source: Moneycontrol Top Headlines | 8 Jul 2008 | 9:46 am 'MTN shareholders disappointed over lack of clarity'Amid continued acrimony between the Ambani brothers over a deal with MTN, disappointment has set on shareholders of the South African telecom majorSource: Daily News & Analysis: Money News | 8 Jul 2008 | 8:52 am High fuel cost affecting international flightsHigh fuel cost and weakening passenger traffic are taking a toll on the long international flights, a media report said on Tuesday.Source: Daily News & Analysis: Money News | 8 Jul 2008 | 8:46 am PM blasts intl financial bodies for oil, food price crisis!Ahead of the G-8 summit, Prime Minister Manmohan Singh on Monday lashed out at the international financial institutions and others at their "lethargy" in dealing with the current global crisis over the oil and food prices and mooted a forum where producers and consumers can sit together to work out modalities to introduce a greater element of stability.Source: Zee News : Business | 8 Jul 2008 | 12:37 am TVS launches 160 cc Apache!Aiming to strengthen its presence in the premium segment, country`s third largest two-wheeler maker TVS Motor Company on Monday launched an advanced version of its bike apache fitted with fuel injection engine, priced at Rs 64,990 (ex-showroom, New Delhi).Source: Zee News : Business | 8 Jul 2008 | 12:37 am MMTC to import 16,000 tons of pulses !State-run trading firm MMTC has invited bids for import of 16,000 tons of pulses to be delivered between August-November.Source: Zee News : Business | 8 Jul 2008 | 12:37 am Market uncertainties force UTI Mutual Fund to defer IPO!UTI Asset Management Company, the country`s first fund house which was planning to go public during this month, has deferred its Initial Public Offering (IPO) owning to uncertain market conditions.Source: Zee News : Business | 8 Jul 2008 | 12:37 am RIL blasts RCOM for not coming for meet!Mukesh Ambani-led RIL upped the ante and threatened to take "appropriate action" against younger brother Anil-headed RCOM, which is negotiating an amalgamation with South African telecom firm MTN, for refusing to engage in conciliation talks, process for which started on Monday.Source: Zee News : Business | 8 Jul 2008 | 12:37 am IT cos projected to register 11% jump in Q1 FY`09 revenues!Amid global financial turmoil, most Indian IT companies led by Infosys and TCS are expected to post sequential revenue growth in 6-11 percent range due to a depreciating rupee in the first quarter of this fiscal.Source: Zee News : Business | 8 Jul 2008 | 12:37 am Govt approves 23 coal blocks to Essar, JSPL, Ispat!The government is understood to have approved allocation of 23 coking and non-coking coal blocks to leading steel, cement and power producers, including Essar, JSPL, Grasim, Monnet and Ispat.Source: Zee News : Business | 8 Jul 2008 | 12:37 am `Lakshmi Mittal joining Goldman Sachs could raise questions`!The appointment of billionaire steel tycoon Lakhshmi Mittal, the world`s richest Indian, to investment banking giant Goldman Sachs` board as an independent director could raise some questions, given his non-financial background, a media report said on Monday.Source: Zee News : Business | 8 Jul 2008 | 12:37 am Aadhar to be sourcing hub for Future group retail formatsWill also supply farmers’ produce to other retailers. Mumbai, July 7 Graduating from providing agri-services to direct sourcing from farmers, Aadhar Retailing is now getting into the business of output management with farmers across the ...Source: Business Line - Home Page | 8 Jul 2008 | 12:00 am FIIs shifting to SGX NiftyHighest monthly volumes in June. The market melt-down in the June has witnessed traders going into an over-drive to make money on short positions. However, it is not the domestic traders alone who are keen to benefit from the declining prices, ...Source: Business Line - Home Page | 8 Jul 2008 | 12:00 am UTI Asset Management puts off IPO plansJuly 21 is the deadline for completion of IPO process. Mumbai, July 7 UTI Asset Management Company has decided to put off its proposed initial public offer, which was expected to hit the market this month. ...Source: Business Line - Home Page | 8 Jul 2008 | 12:00 am Banks tapping CD market as CRR hike begins to biteSqueeze on liquidity pushing yields higher. Bangalore, July 7 Banks have begun rushing to the certificates of deposit (CD) market anticipating a further tightening of liquidity ahead of the second phase of the Cash Reserve Ratio (CRR) hike ...Source: Business Line - Home Page | 8 Jul 2008 | 12:00 am Reverse outsourcing: Indian cos take the leadIndian companies seem to be at the forefront of the reverse outsourcing trend, with the total employment generated by domestic entities in the US touching around 30,000. ...Source: Business Line - Home Page | 8 Jul 2008 | 12:00 am Tanti group venture buys Chinese wind energy firmWill invest $2 b in partnership with Arcapita Bank. Mumbai, July 7 Tanti group of companies, the promoters of Suzlon Energy Ltd, jointly with Bahrain-based Arcapita Bank, has acquired Honiton Energy Holdings, a Chinese wind energy firm. ...Source: Business Line - Home Page | 8 Jul 2008 | 12:00 am Bay whirl turns ‘low’, track under scanThiruvananthapuram, July 7 Sunday’s upper air cyclonic circulation over Bangladesh concentrated overnight into a monsoon ‘low’ over north Bay of Bengal, promptly setting off another round of heavy rains in east India and the ...Source: Business Line - Home Page | 8 Jul 2008 | 12:00 am ITC, Godfrey Phillips in limelightTwo cigarettes stocks, which have substantial foreign direct investments, on Monday moved up. Market sources said the Japan Tobacco International’s proposal to raise its stake in its unlisted Indian outfit would be taken up by the Foreign ...Source: Business Line - Home Page | 8 Jul 2008 | 12:00 am FII flows: Curiouser and curiouserChennai, July 7 Though the Sensex plummeted by 4,600 points between January and March 2008, FII inflows over this period were just 5 per cent short of inflows between October and December 2007 (when the Sensex rose 3,000 points); and 52 per ...Source: Business Line - Home Page | 8 Jul 2008 | 12:00 am No view yet on pvt sector entry into nuclear power generationLet us cross the nuclear deal hurdle first, says PM. Sapporo, July 7 The Government is yet to take a view on whether it will allow the private sector to set up nuclear power plants once the international civil nuclear cooperation deal is put ...Source: Business Line - Home Page | 8 Jul 2008 | 12:00 am Oil hit for packaging industryHigh and volatile crude prices have hit the corrugated packaging industry very hard.Source: Daily News & Analysis: Money News | 7 Jul 2008 | 10:43 pm Dolphin to buy $100m marine assetsDolphin Offshore, the offshore construction and ship repair company, is considering buying marine assets worth about $100 million.Source: Daily News & Analysis: Money News | 7 Jul 2008 | 10:42 pm IT expected to clock a healthy first quarterAided largely by a depreciating rupee and robust volume, Indian software companies are expected to register healthy-over 25% year-on-year-growth for the April-June quarter.Source: Daily News & Analysis: Money News | 7 Jul 2008 | 10:41 pm Pharma majors think small for big growthCirca 2006. Dr Reddy's Laboratories acquired Germany's fourth largest generics manufacturer Betapharm Arzneimittel for $570 million.Source: Daily News & Analysis: Money News | 7 Jul 2008 | 10:39 pm Tanti co, Arcapita to buy China firm'Wind man' Tulsi Tanti's Colossus Holdings has formed a joint venture with Bahrain-based Arcapita Bank to buy Chinese wind energy farms specialist Honiton Energy Holdings.Source: Daily News & Analysis: Money News | 7 Jul 2008 | 10:38 pm Nomura may invest in LIC Mutual FundNomura Asset Management Co, the fund management unit of Japan's Nomura Holdings, said it has agreed to invest in an asset management unit of Life Insurance Corp.Source: Daily News & Analysis: Money News | 7 Jul 2008 | 10:36 pm It helps to pile up frequent-flyer pointsUntil recently, airlines were being preferred to other time-consuming modes of travel as the ticket prices kept falling.Source: Daily News & Analysis: Money News | 7 Jul 2008 | 10:35 pm ICICI Bk launches virtual bank a/cICICI Bank on Monday launched two online services aimed at taking banking beyond branches and aiding the unbanked.Source: Daily News & Analysis: Money News | 7 Jul 2008 | 10:34 pm Health ministry to oppose JTIL proposalThe health ministry plans to oppose the application from Japan Tobacco International Ltd (JTIL), the world's third largest tobacco company, to the Foreign Investment Promotion Board (FIPB) to raise its stake in its Indian venture from 50 to 74 per cent.Source: Business Standard | Front Page Headlines | 7 Jul 2008 | 6:53 pm Floor test first, then IAEA approachWith time running out for the Indo-US nuclear deal, the United Progressive Alliance (UPA) government is likely to seek a vote of confidence tentatively on July 21 before formally approaching the International Atomic Energy Agency (IAEA) for an India-specific safeguards agreement required to operationalise the controversial deal.Source: Business Standard | Front Page Headlines | 7 Jul 2008 | 6:51 pm Left to pull the rug by July 10The Left parties, which vote with the government in Parliament, are ready to withdraw support to the United Progressive Alliance (UPA) by July 10 in developments that saw the markets fluctuate sharply on political uncertainty.Source: Business Standard | Front Page Headlines | 7 Jul 2008 | 6:50 pm
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