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Govt will be happy if current prices stay: Steel SecyThe threemonth freeze on steel prices ends on August 7. Steel Secretary RS Pandey said there is no government proposal to ask steel companies to not raise or hold prices. However, he was quick to maintain that the government will be very happy if prices can be held at the current levels.Source: Moneycontrol Top Headlines | 16 Jul 2008 | 6:26 pm HDFC may hike int rates if cost of funds riseDeepak Parekh, Chairman, HDFC said that they may increase interest rates if cost of funds rise. HDFC home loans are seen growing 2530% in FY09, he added. He expect a higher interest rate scenario and said he would wait for the RBI policy signal to hike the interest rate.Source: Moneycontrol Top Headlines | 16 Jul 2008 | 6:02 pm TRAI okays DoT request to hike spectrum usage chargesThe Telecom Regulatory Authority of India (TRAI) has given the go ahead to the Department of Telecom (DoT) to hike spectrum usage charges. The spectrum usage charge hike is likely to be around 1 2% across slabs. It could happen as early as this week when the Telecom Commission meets this Friday to take a final call.Source: Moneycontrol Top Headlines | 16 Jul 2008 | 5:32 pm H\'bad Metro Rail project likely to be delayedThe Hyderabad metro rail project of Rs 10,000 crore is likely to be further delayed as none of the Consortiums bidding for the project met the deadline.Source: Moneycontrol Top Headlines | 16 Jul 2008 | 5:23 pm HCL Tech to buy UKbased Liberata Fin Svcs: NW18HCL Technologies will buy UKbased BPO company Liberata Financial Services, reports CNBCTV18 quoting Newswire 18. HCL Tech will get 4 UK delivery centres with the Liberata Financial buy as well as 800 employees.Source: Moneycontrol Top Headlines | 16 Jul 2008 | 4:50 pm 'Bangladesh may turn to Myanmar for rice import'Bangladesh, which banked on India for its imports of rice when the country was hit by cyclone Sidr last year, may now turn to another neighbour Myanmar for more supplies to meet additional needs, said a Bangladeshi newspaper.Source: IndiaeNews.com: Business News | 16 Jul 2008 | 2:30 pm Tata Consultancy net up seven percent, but scrip fallsSoftware giant Tata Consultancy Services (TCS) Wednesday announced a consolidated profit after tax (PAT) of $322.65 million (Rs.12.9 billion) during the first quarter this fiscal, compared to $300.73 million (Rs.12.02 billion) for the same period last year, recording a growth of seven percent on a year-on-year basis.Source: IndiaeNews.com: Business News | 16 Jul 2008 | 2:30 pm Ketan Parekh denied more time to surrenderThe Supreme Court Wednesday refused to extend the July 31 deadline for stock broker Ketan Parekh to surrender to the Mumbai jail authorities to undergo his year-long jail term for siphoning off Rs.477 million from a Canara Bank subsidiary in a financial scam of 1992.Source: IndiaeNews.com: Business News | 16 Jul 2008 | 2:30 pm Inflation unlikely to improve soon: Reddy - Business Standard
Source: Google News India - Business | 16 Jul 2008 | 2:26 pm U.S. STOCKS - Wall St rises as Wells Fargo eases bank fearsNEW YORK (Reuters) - U.S. stocks rose on Wednesday as Wells Fargo & Co's upbeat quarterly results eased concerns about the impact of the credit crisis on banks, overshadowing data that pointed to rising inflationary pressures.Source: Reuters: Money News | 16 Jul 2008 | 2:26 pm Cartel in Ranbaxy counter? - Business Standard
Source: Google News India - Business | 16 Jul 2008 | 2:25 pm BGR Energy bags largest EPC contract for power plantBGR Energy has bagged order worth Rs 4,900 crores. BG Raghupathy, CMD of BGR Energy systems said that it is the single largest order in country in EPC for power plant.Source: Moneycontrol Top Headlines | 16 Jul 2008 | 2:18 pm Parsvanath to pick up 38% in Haryana\'s Nano City projectThe real estate major, Parsvnath Developers has said that it will pick up 38% stake in Nano City project in Haryana. The company will invest Rs 400 crore as equity and debt in Nano City. Parsvnath has also plans to list the Nano City project in 1824 Months. The company has also said that the cost of construction is up 1012% in last one year.Source: Moneycontrol Top Headlines | 16 Jul 2008 | 2:18 pm HCL Tech says to buy UK firm for $2 millionNEW DELHI (Reuters) - HCL Technologies will pay about $2 million to buy a U.K. based back-office services firm and will invest $24 million in next three years to grow the business, a top official said on Wednesday.Source: Reuters: Money News | 16 Jul 2008 | 2:16 pm TCS Q1 net at Rs 1290.61 cr - Hindu
Source: Google News India - Business | 16 Jul 2008 | 2:15 pm GSPC finds more gas in east coast blockNEW DELHI (Reuters) - Indian exploration firm Gujarat State Petroleum Corp (GSPC) has found more gas in its deepwater block in the Krishna Godavari basin, off India's east coast, the upstream regulator, V.K. Sibal, said on Wednesday.Source: Reuters: Money News | 16 Jul 2008 | 2:12 pm Shriram group mulls entry into banking sectorWith one crucial link missing in its financial business chain, the city-based Shriram group is contemplating entering the banking sector, a top official said here on Wednesday.Source: Daily News & Analysis: Money News | 16 Jul 2008 | 2:01 pm Farmers to get assistance for cardamom replantation - Reuters India
Source: Google News India - Business | 16 Jul 2008 | 1:34 pm Market wipes out early gains, Sensex downThe Bombay Stock Stock Exchange benchmark Sensex dropped another 100 points, extending the losing spree to fifth day on Wednesday.Source: Daily News & Analysis: Money News | 16 Jul 2008 | 1:31 pm Govt will be happy if current prices stay: Steel Secy - Moneycontrol.com
Source: Google News India - Business | 16 Jul 2008 | 1:20 pm Parsvnath to invest 4 bln rupees in city project - Reuters India
Source: Google News India - Business | 16 Jul 2008 | 1:19 pm Spencer's ties up with US-based restaurant for bakery chain - domain-B
Source: Google News India - Business | 16 Jul 2008 | 1:17 pm India sees good harvest, may sell wheat in local marketNEW DELHI (Reuters) - India expects a good harvest of rice, corn and soybean this year and may release 6 million tonnes of wheat into the local market to further ease prices, the farm minister said, raising hopes export curbs may be relaxed.Source: Reuters: Money News | 16 Jul 2008 | 1:14 pm Inflation data to be released on every ThursdayConcerned over leakage of sensitive data on price rise, the government has decided to release the inflation figures on Thursdays instead of Fridays.Source: Daily News & Analysis: Money News | 16 Jul 2008 | 1:14 pm Tata Consultancy Q1 net up 5 pct, lags forecastMUMBAI (Reuters) - India's top software exporter, Tata Consultancy Services, narrowly missed forecasts with a 5 percent rise in quarterly profit, as a global credit turmoil crimped outsourcing deals from its big financial clients.Source: Reuters: Money News | 16 Jul 2008 | 1:11 pm Ranbaxy rebounds but Indian shares fall 5th dayBANGALORE (Reuters) - Indian shares faltered after a strong start and slid 0.8 percent on Wednesday, taking losses over five days to about a tenth, as investors braced for a spike in inflation that could trigger another interest rate increase.Source: Reuters: Money News | 16 Jul 2008 | 1:01 pm HCL acquires British BPO firmIndia's leading Software services firm HCL Technologies announced Wednesday that it has agreed to acquire Liberata Financial Services (LFS), a UK-based business process outsourcing (BPO) firm, for an undisclosed amount.Source: IndiaeNews.com: Business News | 16 Jul 2008 | 1:00 pm Pressmart Media signs pact with US magazinePressmart Media Ltd, a city-based digital delivery service provider for publishers, has signed an agreement with Editor and Publisher magazine of the US to produce a same-as-print electronic edition of the American trade publication, it was announced here Wednesday.Source: IndiaeNews.com: Business News | 16 Jul 2008 | 1:00 pm Controls and amp; Switchgear raises Rs.1 bnPower management products manufacturer Controls and amp; Switchgear Co Ltd (C and amp;S) has secured Rs.1 billion ($23.8 million) in investment from GE Commercial Finance India, the private equity arm of US-based General Electric (GE).Source: IndiaeNews.com: Business News | 16 Jul 2008 | 1:00 pm Blood still runs thick in India Inc: NewsweekCorporate India, which has grown globally in stature, is still a far cry from the professional management as family-owned monoliths in the country still prefer insiders and relativesSource: Daily News & Analysis: Money News | 16 Jul 2008 | 12:56 pm Samsung launches digital projectors, framesKorean electronics major Samsung on Wednesday launched digital projectors and photo frames in the domestic market in a bid to strengthen its IT peripherals business in the country.Source: Daily News & Analysis: Money News | 16 Jul 2008 | 12:56 pm Yahoo-Google deal comes under fire from MicrosoftA proposed online search advertising deal between Yahoo and Google came under fire at a US Senate hearingSource: Daily News & Analysis: Money News | 16 Jul 2008 | 12:53 pm TRAI okays DoT request to hike spectrum usage charges - Moneycontrol.com
Source: Google News India - Business | 16 Jul 2008 | 12:50 pm Higher interest income boosts HDFC's net profit in Q1 FY'09 - NDTV.com
Source: Google News India - Business | 16 Jul 2008 | 12:43 pm Volkswagen sees slower pace of growth in emerging marketsMUMBAI (Reuters) - Volkswagen sees high prices of oil and raw materials curbing the pace of growth in emerging markets such as India, but expects they will still make up the bulk of sales in 10 years, a senior official said.Source: Reuters: Money News | 16 Jul 2008 | 12:43 pm Political uncertainty will not impact growth: KamathThe current political uncertainty would have no impact on the economy, said Confederation of Indian Industry (CII) president K.V. Kamath Wednesday, adding optimistically that the Indian economy would continue to grow between 8.5 and 9 percent thanks to the strong fundamentals and $700 billion investment pipeline.Source: IndiaeNews.com: Business News | 16 Jul 2008 | 12:32 pm Shriram General to push unique business planAt a time when the Indian general insurers are chasing top line growth focusing on the corporate segment and at the retail end of health insurance, the Jaipur-headquartered Shriram General Insurance Company Ltd is aiming to garner Rs.2 billion busines through small ticket policies.Source: IndiaeNews.com: Business News | 16 Jul 2008 | 12:32 pm Tata Metaliks to invest Rs.750 mn in sinter plantPig iron manufacturer Tata Metaliks will invest Rs.750 million over the next two years to construct a sinter plant at its Kharagpur unit, a top company official said here Wednesday.Source: IndiaeNews.com: Business News | 16 Jul 2008 | 12:30 pm Indian rupee up on lower oil, shares curb gains - Reuters India
Source: Google News India - Business | 16 Jul 2008 | 12:24 pm Rupee up on lower oil, shares curb gainsMUMBAI (Reuters) - The Indian rupee strengthened on Wednesday as global oil prices backed further away from record levels, marginally easing concerns over a widening trade deficit, but losses in local shares limited gains.Source: Reuters: Money News | 16 Jul 2008 | 12:18 pm Oil falls further, focus on U.S. demandLONDON (Reuters) - Oil dropped further on Wednesday after a sharp fall the previous session on expectations that a faltering economy in top energy consumer the United States would hit demand growth.Source: Reuters: Money News | 16 Jul 2008 | 12:14 pm iPhone to help find your parked carA software developed by a US company enables the recently launched Apple iPhone 3G to give turn by turn directions, that help people find their parked vehicles.Source: Daily News & Analysis: Money News | 16 Jul 2008 | 12:12 pm Tata Teleservices net loss $8.67 mn in first quarterTata Teleservices Maharashtra Ltd (TTML) has announced a net loss of $8.67 million (Rs.347.15 million) during the first quarter of fiscal year 2008-09, compared to a net loss of $7.10 million (Rs.284.29 million) for the same quarter in the previous fiscal.Source: IndiaeNews.com: Business News | 16 Jul 2008 | 12:00 pm ADAG jet flies into customs netTightening noose on Corporate India for alleged customs duty evasion, the government has issued a notice to seize an aircraft belonging to Anil Ambani groupSource: Daily News & Analysis: Money News | 16 Jul 2008 | 11:59 am India perceived as opportunity, China a threat: WTO!While the economic growth in India is perceived as an opportunity, the same in China is seen more as a threat, says a report by World Trade Organisation.Source: Zee News : Business | 16 Jul 2008 | 11:58 am Sensex up 160 points at 12,836!The Bombay Stock Exchange benchmark Sensex recovered 160 points in early trade Wednesday on emergence of buying by domestic funds along with short-covering at prevailing lower levels.Source: Zee News : Business | 16 Jul 2008 | 11:58 am GM to cut jobs, sell assets to survive!General Motors Corp on Wednesday announced a plan to cut costs by USD 10 billion, suspend its common stock dividend and sell up to USD 4 billion in assets in a bid to shore up cash and survive a deep industry slump.Source: Zee News : Business | 16 Jul 2008 | 11:58 am India, Pak, Iran to meet in Tehran to push IPI project!Iran, Pakistan and India are expected to hold a meeting in Tehran later this month to push the USD 7.4 billion IPI gas pipeline project that had been delayed after being caught in wrangling over transit fee.Source: Zee News : Business | 16 Jul 2008 | 11:58 am Oil steady under $139 after steepest dollar slide in 17 yrs!Oil was steady on Wednesday, after falling more than USD 6 in the previous session, the steepest slide in dollar terms in 17 years as demand fears swelled on the worsening prospects of the US economy.Source: Zee News : Business | 16 Jul 2008 | 11:58 am Ranbaxy denies USFDA allegations; shares up 9% !Pharma major Ranbaxy Wednesday denied allegations by the US Food and Drug Administration regarding submission of false and fabricated information, on the back of which the company`s shares opened five percent up on the Bombay Stock Exchange.Source: Zee News : Business | 16 Jul 2008 | 11:58 am MS cites Yang`s comments on Google-Yahoo deal!A top Microsoft Corp executive said Yahoo Inc`s advertising search partnership with Google Inc would leave only one major player in the Internet search business, and said he had been told as much by Yahoo`s own chief executive last month.Source: Zee News : Business | 16 Jul 2008 | 11:58 am AOL talks with MS, Yahoo heat up!Time Warner Inc`s discussions to merge or sell its AOL Internet division with Microsoft Corp or Yahoo Inc have taken on new urgency ahead of Yahoo`s Aug 1 shareholders meeting, a source familiar with the discussions said on Tuesday.Source: Zee News : Business | 16 Jul 2008 | 11:58 am Fresh antitrust charges against Intel!European regulators are preparing to file new antitrust charges against Intel Corp, expanding a probe into the chipmaker`s marketing and sales practices, The Wall Street Journal said, citing people familiar with the matter.Source: Zee News : Business | 16 Jul 2008 | 11:58 am Govt to announce 3G policy after vote of confidence!Government is understood to have decided to announce the guidelines and final policy for third generation mobile services only after proving its majority in Lok Sabha on July 22.Source: Zee News : Business | 16 Jul 2008 | 11:58 am India steel firms keen to raise prices, govt watchingNEW DELHI (Reuters) - Indian steel firms may seek to raise prices when a self-imposed moratorium ends early next month, but the government is likely to oppose any hefty, inflation-fuelling increase.Source: Reuters: Money News | 16 Jul 2008 | 11:27 am RanbaxyDaiichi deal to go through: MalvinderMalvinder Singh CEO of Ranbaxy Malvinder Singh said that there has been speculation due to lack of understanding and clarity on the issue. The Daiichi SankyoRanbaxy deal is on track without any change, Singh said. Big pharma MNCs and some brokers are trying to put pressure on the Ranbaxy share, he alleged.Source: Moneycontrol Top Headlines | 16 Jul 2008 | 9:34 am RComm bets big on sports!It might be tough times for the economy, but advertisers are betting big on sports. Reliance Communications has signed a oneyear onair deal with ESPNStar Sports starting with the ICC Champions Trophy.Source: Moneycontrol Top Headlines | 16 Jul 2008 | 9:24 am Auto demand remains weak: General MotorsGeneral Motors Chairman and Chief Executive Officer Rick Wagoner, says that auto demand remains weak, and the company needs to take funding into it\'s own hands rather than relying on the market, which is currently weak.Source: Moneycontrol Top Headlines | 16 Jul 2008 | 9:14 am Slowdown effect: 24/7 Customer relocates 450 staff to other centresClose to 450 employees of 24/7 Customer may feel the heat of slowdown and client churn in the BPO industry. With one of its clients announcing a phased ramp-down of offshore call centre partnerships in India, 24/7 Customer has asked the ...Source: Business Line - Home Page | 16 Jul 2008 | 12:00 am W.L. Ross to invest Rs 345 cr in SpiceJetMoney will flow in for the day-to-day running of the airline. New Delhi, July 15 The Delhi-based low cost airline, SpiceJet announced on Tuesday that its board had accepted an offer made by US based private equity firm W.L. Ross, which will ...Source: Business Line - Home Page | 16 Jul 2008 | 12:00 am Kharif crops may be hit in 6 States on deficient rainsChennai, July 15 Deficient rainfall in 13 out of the 36 meteorological divisions of the country could affect the prospects of kharif crops in Assam, Gujarat, Maharashtra, Karnatka, Andhra Pradesh and Tamil ...Source: Business Line - Home Page | 16 Jul 2008 | 12:00 am Auto sector riding high on M&A, PE dealsNew Delhi, July 15 Tata Motors’ acquisition of Jaguar-Land Rover inflated the mergers & acquisition basket of the domestic automobile industry during January-June 2008, with the sector witnessing fewer, but high value deals. ...Source: Business Line - Home Page | 16 Jul 2008 | 12:00 am RCom to get links to GSM networkService roll-out under dual licence, says TRAI. New Delhi, July 15 Paving the way for Reliance Communications to roll out its pan-India GSM cellular services, the telecom regulator has directed all existing mobile operators to provide ...Source: Business Line - Home Page | 16 Jul 2008 | 12:00 am Volatility index increases to 49 – highest close since January 28 crashRanbaxy open interest jumps. Chennai, July 15 Turnover remained modest at Rs 44,122.92 crore against Monday’s figure of about Rs 40,096 crore. The discount of Nifty July future with respect to the spot close jumped to 32.2 points, mainly ...Source: Business Line - Home Page | 16 Jul 2008 | 12:00 am Port, dock workers withdraw strike callAs Shipping Ministry accepts 3 key demands of unions. New Delhi/Kochi, July 15 The indefinite strike of port and dock workers that would have kicked off at all major ports from Tuesday midnight has been averted with the Union Ministry for ...Source: Business Line - Home Page | 16 Jul 2008 | 12:00 am ‘Downdraft’ tripped monsoon?The long break of monsoon rains in the peninsula needs to be studied but it may also be related to the ‘downdraft’ related to a passing Madden-Julian Oscillation (MJO) wave of anomalous east-bound precipitation, according to Prof ...Source: Business Line - Home Page | 16 Jul 2008 | 12:00 am Sun Pharma extends offer for Taro till Sept 2Tel Aviv court wants time to rule on case against Sun’s subsidiary. Mumbai, July 15 Sun Pharmaceutical Industries Ltd has extended the tender offer for purchase of all outstanding ordinary shares of Israel’s Taro Pharmaceutical ...Source: Business Line - Home Page | 16 Jul 2008 | 12:00 am Where’s the windfall profit for a tax?The nuclear fission in national politics is letting loose generous doses of radiation on a daily basis. One such lethal dose came last week from the Samajwadi Party’s Mr Amar Singh who seems to be a loyal friend indeed for his most ...Source: Business Line - Home Page | 16 Jul 2008 | 12:00 am Govt to license cable operatorsEnding over 17 years of unregulated growth, the government will soon make it mandatory for all the 60,000 cable operators offering services in about 80 million homes to obtain a five-year licence by paying a one-time entry fee.Source: Business Standard | Front Page Headlines | 15 Jul 2008 | 10:43 pm Bearish global outlook, Fitch pressure push Sensex to `08 lowBank shares reflect turmoil in international financial markets. ??The Bombay Stock Exchange's 30-share Sensex fell 654 points to close at 12,676.19, the lowest level in 15 months, amid globally weak markets and additional pressure from Fitch lowering India's long-term local currency outlook from stable to negative.Source: Business Standard | Front Page Headlines | 15 Jul 2008 | 10:41 pm One-month relief for RanbaxyDrug-maker filed response in US court yesterday. ??Under fire in the United States for giving distorted information on the generic drugs it sold, Ranbaxy Laboratories today said that it will file all relevant information within a month after which the legal case initiated against it by the US government will be withdrawn.Source: Business Standard | Front Page Headlines | 15 Jul 2008 | 10:40 pm Strawberry Frog may choose Kurien Mathews as its India chiefStrawberry Frog, the New York-based independent full-service communications agency, is said to be in talks with Kurien Mathews, director of Ominicom-owned TBWA India.Source: Daily News & Analysis: Money News | 15 Jul 2008 | 10:20 pm Realtors find a niche in studio apartmentsFifty-four-year old Shivani, a self-professed "not a very home person", found her niche when she came across a 500 sq ft apartment at Goregaon Park in Pune.Source: Daily News & Analysis: Money News | 15 Jul 2008 | 10:17 pm
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