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RIL sent 4th letter threatening action over MTN: RCommReliance Communications said that RIL sent its fourth letter threatening legal action over MTN, reports CNBCTV18. RIL said that it has commenced arbitration proceedings against Reliance Communications.Source: Moneycontrol Top Headlines | 17 Jul 2008 | 6:14 pm ITeS sector luckiest amidst dip in hiringDoubledigit inflation and paralyzing oil prices may just cost you a job but people in the ITeS sector may be a little luckier. There is a further dip in the hiring intention of telecom and financial service sectors. The silver lining is the ITeS and BPO sector, which is likely to get a boost with many projects coming into India.Source: Moneycontrol Top Headlines | 17 Jul 2008 | 5:46 pm IBM Daksh, Texas Pac infusion to fund KLG Power capex plansIBM Daksh plans to invest Rs 12 crore in KLG Systel\'s subsidiary, KLG Power. It will pick up 1.19% stake in KLG Power at Rs 608.90 per share. Today\'s deal values KLG Power close to Rs 1,000 crore. KLG Systel holds 99% in KLG Power which is an unlisted entity.Source: Moneycontrol Top Headlines | 17 Jul 2008 | 4:22 pm Yahoo says Icahn's agenda presents significant riskNEW YORK (Reuters) - Yahoo Inc on Thursday warned its shareholders that billionaire Carl Icahn's agenda presents a "significant risk" to their investment, and reiterated that it would only sell itself to Microsoft under the right terms.Source: Reuters: Money News | 17 Jul 2008 | 1:18 pm INSTANT VIEW - Inflation at 11.91 pct on July 5NEW DELHI (Reuters) - India's wholesale price index rose 11.91 percent in the 12 months to July 5, just above the previous week's annual rise of 11.89 percent, government data showed on Thursday.Source: Reuters: Money News | 17 Jul 2008 | 1:14 pm Colgate net up 18 percentPersonal care product manufacturer Colgate Palmolive India has registered a net profit of $17.98 million (Rs.719.20 million) in the first quarter this fiscal, compared to $15.22 million (Rs.608.8 million) netted in the same period last fiscal, the company announced Thursday.Source: IndiaeNews.com: Business News | 17 Jul 2008 | 1:00 pm Rupee gains on drop in oil, stock market rallyMUMBAI (Reuters) - The Indian rupee strengthened on Thursday, bolstered by a further drop in global crude prices and a rally in local shares, which renewed hopes for further foreign fund inflows.Source: Reuters: Money News | 17 Jul 2008 | 12:57 pm Unitech to raise $300m through Realty FundSanjay Chandra, MD, Unitech, said the company is raising USD 300 million for Unitech International Real Estate Fund. The funds raised by the company will be used to finance residential projects of Unitech, he added.Source: Moneycontrol Top Headlines | 17 Jul 2008 | 12:54 pm JetLite CEO Maunu von Lueders steps downJetLite CEO Maunu von Lueders has resigned. He said he is moving on for personal reasons and his role in creating operational synergies between Jet Airways and JetLite are over. He said the rebranding process of JetLite will be complete in the next few weeks.Source: Moneycontrol Top Headlines | 17 Jul 2008 | 12:46 pm Banking, realty hog limelight as Sensex spurtsThe Bombay Stock Exchange benchmark Sensex on Thursday climbed up by more 530 points to regain the 13,000 level on the back of a sharp surge in bank and consumer good stocks.Source: Daily News & Analysis: Money News | 17 Jul 2008 | 12:41 pm Reliance Industries starts arbitration against Reliance CommunicationsMUMBAI (Reuters) - India's Reliance Industries Ltd said on Thursday it had started arbitration proceedings against Reliance Communications Ltd after the mobile carrier failed to participate in meetings to resolve a dispute concerning ownership of shares.Source: Reuters: Money News | 17 Jul 2008 | 12:40 pm MM launches Bolero PikUp CNGMahindra and Mahindra has launched Bolero PikUp CNG (Compressed Natural Gas). It is the first CNG large PikUp model with 11.5 tonne payload. Mahindra Bolero PikUp priced at Rs 5.42 lakh, exshowroom Delhi. Mahindra is a leader with market share of 83% in AprilJune 2008.Source: Moneycontrol Top Headlines | 17 Jul 2008 | 12:34 pm Steel prices may cool down 510% by yrend: Roger ManserRoger Manser, Global Editor of Steel Business Briefing sees steel prices down by 510% at best by yearend. He doesn\'t see steel prices going back to levels at 2008beginning.Source: Moneycontrol Top Headlines | 17 Jul 2008 | 12:32 pm Equity markets end losing streak, Sensex surges 536 pointsIndian equity markets ended their four-day losing streak and closed Thursday with hefty gains, piggybacking on strong global cues and fall in crude oil prices for the second consecutive day. There was frenzied buying in realty, banking and technology stocks.Source: IndiaeNews.com: Business News | 17 Jul 2008 | 12:32 pm Ecuador explores mining sector cooperation with IndiaEcuador wants India's expertise to develop its nascent mining industry, its vice foreign minister Jose Valencia said here Thursday.Source: IndiaeNews.com: Business News | 17 Jul 2008 | 12:31 pm Biocon among top 25 global biotech cosIndian biotech firm Biocon announced on Thursday it has been featured amongst the top 25 global biotehnology companies according to a report released by Med Ad News.Source: Daily News & Analysis: Money News | 17 Jul 2008 | 12:31 pm Coca-Cola 2nd-quarter profit tops view; shares riseNEW YORK (Reuters) - Coca-Cola Co reported better-than-expected quarterly profit on Thursday before one-time items, helped by the weak dollar, and its shares rose 1.6 percent in premarket trade.Source: Reuters: Money News | 17 Jul 2008 | 12:13 pm Kinetic Motor may raise Rs 125 cr via equityKinetic Motor plans to raise Rs 125 crore via equity, reports CNBCTV18, quoting Newswire18. The companys promoters will not dilute their stake in the company. The money would be used for new launches and for working capital.Source: Moneycontrol Top Headlines | 17 Jul 2008 | 12:13 pm Inflation at 11.91 pct on July 5NEW DELHI (Reuters) - India's wholesale price index rose 11.91 percent in the 12 months to July 5, just above the previous week's annual rise of 11.89 percent, government data showed on Thursday.Source: Reuters: Money News | 17 Jul 2008 | 12:08 pm CMIE sees India's 2008/09 growth at 9.5 pctMUMBAI (Reuters) - India's economy is expected to grow a robust 9.5 percent in the fiscal year 2008/09, boosted by the industry and services sectors, think tank Centre for Monitoring Indian Economy (CMIE) said in its monthly review.Source: Reuters: Money News | 17 Jul 2008 | 11:57 am Rasna seeks JVs for entering foreign marketsFruit drinks concentrate maker Rasna is seeking joint ventures in former Soviet countries (CIS) and African nations for increasing its global footprint.Source: Daily News & Analysis: Money News | 17 Jul 2008 | 11:56 am Ranbaxy's net seen falling, Sun's to doubleNEW DELHI (Reuters) - Some Indian drugmakers are set to report sharp falls in quarterly net profit, hit by higher debt payment, but rising demand for cheaper copycat versions in the United States will help boost the sector's revenue growth.Source: Reuters: Money News | 17 Jul 2008 | 11:54 am Unitech receives Rs 740 cr from LehmanUnitech Ltd said it has received Rs 740 crore from global investment bank Lehman Brothers Real Estate Partners for a 50% stake in the country's second largest realty firm's project.Source: Daily News & Analysis: Money News | 17 Jul 2008 | 11:52 am India gold seen above 13,000 this year on financial woesMUMBAI (Reuters) - Indian gold prices are seen above 13,000 rupees per 10 grams at the end of the next two quarters as the world reacts to high inflation, financial turmoil and geo-political tensions by buying more of the yellow metal, a Reuters poll showed.Source: Reuters: Money News | 17 Jul 2008 | 11:48 am Vishal Info Tech IPO to open on July 21 - Business Standard
Source: Google News India - Business | 17 Jul 2008 | 11:39 am What's hot, what's not with mutual fundsMukesh Ambani Group's Reliance Petroleum and telecom majors Bharti Airtel and Reliance Communications have caught fund managers' fancy in June, emerging as their favorite picks.Source: Daily News & Analysis: Money News | 17 Jul 2008 | 11:39 am Colgate-Palmolive Q1 net up 18%Colgate-Palmolive India announced a first quarter net profit of Rs 71.92 crore, up 18 per cent from the same period last year, on strong growth in its core dental products business.Source: Daily News & Analysis: Money News | 17 Jul 2008 | 11:30 am 'We are not sweating over the iPhone'It seems BlackBerry maker Research in Motion (RIM) is not losing its sleep over the euphoria created by the iPhone worldwide.Source: Daily News & Analysis: Money News | 17 Jul 2008 | 11:22 am Bank pays Rs 740 cr for Mumbai project - Times of India
Source: Google News India - Business | 17 Jul 2008 | 11:19 am Chidambaram says RBI steps on inflation working - Reuters India
Source: Google News India - Business | 17 Jul 2008 | 11:09 am Indian shares snap 5-day fall, rebound 4.3 pctBANGALORE (Reuters) - Indian shares snapped a five-day losing streak and rose 4.3 percent on Thursday after oil prices fell sharply and fears eased of a worsening global credit crisis, but traders were edgy about inflation topping 12 percent.Source: Reuters: Money News | 17 Jul 2008 | 11:08 am Sensex closes 536 points upIndian equity markets closed with a huge gain Thursday.Source: IndiaeNews.com: Business News | 17 Jul 2008 | 11:08 am BASF hikes open offer price to shareholdersThe Indian arm of German chemicals major BASF Thursday said it was increasing its open offer price to shareholders for acquiring 22.31 percent stake in the company. The offer price stands revised to Rs.300 from Rs.274 per equity share.Source: IndiaeNews.com: Business News | 17 Jul 2008 | 11:07 am Govt appeals steel makers to retain steel prices - Newstrack India
Source: Google News India - Business | 17 Jul 2008 | 11:00 am Sensex snaps losing streak, vaults 536 pts - Sify
Source: Google News India - Business | 17 Jul 2008 | 10:52 am Economy still under inflationary pressure: FMFinance Minister P Chidambaram said on Thursday that the economy is still under inflationary pressureSource: Daily News & Analysis: Money News | 17 Jul 2008 | 10:42 am BGR Energy hits 20% upper circuit - Economic Times
Source: Google News India - Business | 17 Jul 2008 | 10:41 am Anita Nair's 'Myths' to animate TVAuthor Anita Nair, who was fed on mythology with dinner from the age of one, will soon have her tales lighting up TV screensSource: Daily News & Analysis: Money News | 17 Jul 2008 | 10:38 am Reliance Big to fund 100 Indian moviesReliance Big Entertainment (RBE), the movie production arm of Reliance ADAG, is spreading its wings further.Source: Daily News & Analysis: Money News | 17 Jul 2008 | 10:37 am Not aware of any US Congress probe: RanbaxyA StarLedger report findings say the US Congress will probe US FDA\'s handling of Ranbaxy imports. HECC will probe if the FDA knowingly let unsafe medicine to enter the US. Congress Committee will probe FDA\'s handling of allegations on Ranbaxy.Source: Moneycontrol Top Headlines | 17 Jul 2008 | 10:30 am India pins high hopes on WTO talks this yearCommerce Minister Kamal Nath said that he will play hard ball at the WTO talks in Geneva next week. But after three failed meetings since 2005, and in the context of a global slowdown, there will be pressure on trade ministers to compromise. A work beset with economic woes is entering the WTO talks with expectation and hope.Source: Moneycontrol Top Headlines | 17 Jul 2008 | 10:17 am Gujarat State Petroleum Corp. plans IPO in December - Livemint
Source: Google News India - Business | 17 Jul 2008 | 10:04 am Ranbaxy shares fall again on US probe fearsTop Indian drug maker Ranbaxy Laboratories and Japan's Daiichi Sankyo Thursday once again said their consolidation deal struck last month was 'binding and final' but the company's scrip fell 4.40 percent on the Bombay Stock Exchange (BSE) on fears of US probe into quality of Ranbaxy drugs.Source: IndiaeNews.com: Business News | 17 Jul 2008 | 10:01 am Unitech sells 50 percent stake in Mumbai projectReal estate major Unitech Ltd, faced with cash crunch, has for $175 million sold 50 percent stake in the initial phase of its Santa Cruz project in Mumbai to Lehman Brothers Real Estate Partners, it said in a regulatory statement Thursday.Source: IndiaeNews.com: Business News | 17 Jul 2008 | 10:01 am Tata Consultancy confident of growth in US - Economic Times
Source: Google News India - Business | 17 Jul 2008 | 9:50 am India OKs road expansion plan for 69.5 bln rupees - Reuters India
Source: Google News India - Business | 17 Jul 2008 | 9:35 am Seepage, litter affecting Delhi Metro's glory: chief ministerSeepage in some stations and litter by passengers were affecting the cleanliness record of Delhi Metro, Chief Minister Sheila Dikshit said Thursday and directed authorities to 'maintain its glory'.Source: IndiaeNews.com: Business News | 17 Jul 2008 | 9:31 am Portal launched to promote India-Japanese business cooperationThe Confederation of India Industries (CII) and Japan External Trade Organisation (Jetro) have launched a web portal to bolster trade and investment partnerships between India and Japan, with special emphasis on the proposed Delhi-Mumbai Industrial Corridor (DMIC).Source: IndiaeNews.com: Business News | 17 Jul 2008 | 9:31 am FDA comes under Congress scanner over Ranbaxy - Business Standard
Source: Google News India - Business | 17 Jul 2008 | 8:20 am Reliance Big Entertainment to fund 100 Indian moviesReliance Big Entertainment (RBE), the movie production arm of Reliance ADAG, is spreading its wings further.Source: IndiaeNews.com: Business News | 17 Jul 2008 | 8:01 am Saudi Arabian King slams oil speculators!Saudi Arabian King Abdullah on Wednesday denounced speculation on oil prices and called for more dialogue between producing and consuming nations in an interview with the Italian daily La Repubblica.Source: Zee News : Business | 17 Jul 2008 | 12:29 am ADAG jet flies into customs net!An Anil Ambani group plane Wednesday hit the airpocket with government issuing a notice for its seizure as part of tirade against the alleged customs duty evasion in aircraft imports by Corporate India.Source: Zee News : Business | 17 Jul 2008 | 12:29 am Inflation data to be released on every Thursday!Concerned over leakage of sensitive data on price rise, the government has decided to release the inflation figures on Thursdays against the current practice of announcing it on Fridays.Source: Zee News : Business | 17 Jul 2008 | 12:29 am Toyota to cut 2008 global sales goal!Toyota Motor Corp will cut its global sales target for calendar 2008 by 3.6 percent to around 9.5 million vehicles to reflect a sharp slowdown in the United States, Japanese public broadcaster NHK said on Wednesday.Source: Zee News : Business | 17 Jul 2008 | 12:29 am Current steel prices not sustainable: Muthuraman!Hinting at a possible price revision by the industry, Tata Steel Managing Director B Muthuraman on Wednesday said the current steel prices are not sustainable as raw material rates continue to spiral.Source: Zee News : Business | 17 Jul 2008 | 12:29 am Livelihood concerns to be make or break for Doha talks: Nath!India, a key member of the WTO, on Wednesday said that the livelihood concerns of farmers will be "make or break" issues in the forthcoming Ministerial meeting in Geneva.Source: Zee News : Business | 17 Jul 2008 | 12:29 am Gap between rich and poor widening: ADB!The disparity between haves and have-nots has risen considerably in the decade ending 2004, though the number of people living below poverty line has declined substantially during the same time, an ADB report says.Source: Zee News : Business | 17 Jul 2008 | 12:29 am Parekh moves SC seeking protection from arrest in Canara Bank case!Former stock broker Ketan Parekh today moved the Supreme Court seeking protection from arrest as his deadline to surrender in Canara Bank scam case is expiring on July 31.Source: Zee News : Business | 17 Jul 2008 | 12:29 am RBI may further squeeze money supply to control inflation!The Reserve Bank may go in for further tightening of money supply as there is no likelihood of inflation coming to single digit in the next six months, according to indications given by the Central Bank Governor to a parliamentary panel.Source: Zee News : Business | 17 Jul 2008 | 12:29 am Govt may decide on open market wheat sale tomorrow!In a move to bring down prices, government is likely to take a decision tomorrow to sell up to six million tons of wheat through open market operations in cities where the rates have risen.Source: Zee News : Business | 17 Jul 2008 | 12:29 am Day Trading GuideIn line with our expectation, the stock fell in the last trading session. Sell the stock in rallies with stiff stop loss at Rs 550. ...Source: Business Line - Home Page | 17 Jul 2008 | 12:00 am Global slowdown tells on TCS growth; Q1 profit up 7%Mumbai, July 16 The country’s largest software company Tata Consultancy Services (TCS) delivered a second consecutive quarter of muted growth, which it attributed to the general global economic slowdown and foreign exchange fluctuations. ...Source: Business Line - Home Page | 17 Jul 2008 | 12:00 am India willing to cut industrial tariffsSorry, no access to services sector. New Delhi, July 16 The Union Commerce and Industry Minister, Mr Kamal Nath, on Wednesday said that India would be willing to consider industrial tariff cuts in some industries, instead of greater access to ...Source: Business Line - Home Page | 17 Jul 2008 | 12:00 am BGR Energy wins Rs 5,023-cr contract from Rajasthan VidyutPutting up Kalisindh Thermal Power Project. Chennai, July 16 Chennai-based BGR Energy Ltd on Wednesday announced that it has won a Rs 5,023-crore contract from Rajasthan Vidyut Utpadan Nigam Ltd — the electricity generation company of ...Source: Business Line - Home Page | 17 Jul 2008 | 12:00 am Solar energy sizzles worldwideMumbai, July 16 Energy crunch has begun to stare India Inc in the face. Admittedly, energy is a critical input that fuels growth. If not addressed urgently, energy insecurity can potentially create a serious downside risk to the economy in the ...Source: Business Line - Home Page | 17 Jul 2008 | 12:00 am Telecom majors may see 28% rise in profitSubscriber base seen expanding by over 25 million in Q1. Mumbai, July 16 Riding strong net additions in subscribers, the domestic telephony service providers are expected to report an average growth of 28 per cent in net profit for the first ...Source: Business Line - Home Page | 17 Jul 2008 | 12:00 am India on Novartis’ radar for prospecting bio-resourcesDeveloping medicines from natural sources. Mumbai, July 16 Swiss drug-major Novartis AG is looking at bio-diverse resources around the world towards developing medicines from natural sources, and India features on this plan. ...Source: Business Line - Home Page | 17 Jul 2008 | 12:00 am Deal with Daiichi Sankyo well on track, says Ranbaxy chief‘Rivals trying to create confusion, beat down the share price’. New Delhi, July 16 Ranbaxy Laboratories on Wednesday said that the probe by the US Department of Justice (DoJ) will not jeopardise its deal with Japanese ...Source: Business Line - Home Page | 17 Jul 2008 | 12:00 am Toshiba plans to set up Rs 1,000-cr boiler plant near ChennaiChennai, July 16 Toshiba, Japanese engineering major, plans to put up a power boiler plant at Ennore, north of Chennai, according to sources in the know. ...Source: Business Line - Home Page | 17 Jul 2008 | 12:00 am HDFC net up 25% in Q1 on higher incomeLoan disbursements see healthy growth; margins tad higher. Mumbai, July 16 Housing finance major HDFC Ltd posted a net profit of Rs 468 crore for the quarter ended June 30, 2008, up 25 per cent from Rs 373 crore in the corresponding quarter ...Source: Business Line - Home Page | 17 Jul 2008 | 12:00 am Moody`s also worried about fisc, but won`t change ratingA day after Fitch lowered India's local currency outlook to negative, international rating agency Moody's said it was also worried about the reversal of India's fiscal situation due to high oil prices and the lack of policy adjustment by the government.Source: Business Standard | Front Page Headlines | 16 Jul 2008 | 6:52 pm North Block to fast-track reformPSU divestment, easier ECB norms on agenda.??Soon after the trust vote in Parliament on July 22, the finance ministry hopes to push through a series of non-legislative reforms, chief among them disinvestment of minority stakes in around 10 central public sector undertakings by listing them on the stock market.Source: Business Standard | Front Page Headlines | 16 Jul 2008 | 6:47 pm
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