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Arun Sarin prescribes spectrumallocation auction in IndiaFormer Vodafone CEO, Arun Sarin feels that auction is the best way for spectrum allocation in India. The regulatory environment is different from what we had expected; but we will go with the flow, he said.Source: Moneycontrol Top Headlines | 18 Jul 2008 | 2:38 pm Idea dials DoT for clarity on MA norms: SourcesSources from the Department of Telecom, or the DoT have said that the Aditya Birla Group owned Idea Cellular has written to the DoT seeking clarity on the Mergers and Acquisition (MA) norms applicable.Source: Moneycontrol Top Headlines | 18 Jul 2008 | 2:22 pm Garware Offshore to buy 5 vessels for Rs 400 crGarware Offshore will invest Rs 400 crore to acquire five new vessels, reports CNBCTV18. The company has deployed first platform supply vessel MV Mana in the North Sea for USD 42,000 per day.Source: Moneycontrol Top Headlines | 18 Jul 2008 | 12:33 pm OBC sees Q1 MTM loss on bond portfolio at Rs 100 crThe Oriental Bank of Commerce, or the OBCs Q1 mark to market loss on bond portfolio is seen at Rs 100 crore. The bank has raised PLR by 50 bps to 13.75%Source: Moneycontrol Top Headlines | 18 Jul 2008 | 11:45 am Indian shares rally 4 pct as banks rebound - Reuters India
Source: Google News India - Business | 18 Jul 2008 | 11:19 am Indian shares rally 4 pct as banks reboundNEW DELHI (Reuters) - Indian shares rose 4 percent on Friday to their highest close in more than a week, led by banks as slower-than-expected inflation eased concerns of further monetary tightening, but software firms fell on cautious outlook.Source: Reuters: Money News | 18 Jul 2008 | 11:10 am Cipla, Ipca ink drug supply pact with Clinton FoundationCipla and Ipca Laboratories have signed a long term antimalarial drug supply agreement with the Clinton Foundation, reports CNBCTV18. Clinton Foundation has fixed price points for supply to various countries. Cipla, IPCAs drugs are based on naturally derived artemesin.Source: Moneycontrol Top Headlines | 18 Jul 2008 | 11:07 am Punj Lloyd builds on overseas contract - NDTV.com
Source: Google News India - Business | 18 Jul 2008 | 11:06 am Supreme Court delays Vedanta hearing to July 25NEW DELHI (Reuters) - The Supreme Court postponed a hearing until July 25 over whether Britain's Vedanta Resources Plc can mine bauxite in sacred hills in Orissa where tribal people strongly oppose it, court officials said.Source: Reuters: Money News | 18 Jul 2008 | 10:59 am Gujarat NRE Coke Q1 net at Rs 94.4 cr - Business Standard
Source: Google News India - Business | 18 Jul 2008 | 10:59 am GLOBAL MARKETS - Citigroup results help stocks, boost dollarLONDON (Reuters) - Stocks trimmed earlier losses and the dollar rose while European government bond futures hit session lows on Friday after Citigroup reported better-than-expected results for the second quarter.Source: Reuters: Money News | 18 Jul 2008 | 10:53 am Sensex ends up 513pts; Bankex surges 8% - Business Standard
Source: Google News India - Business | 18 Jul 2008 | 10:41 am Top India steel firms Q1 seen up, Hindalco to fall - Reuters India
Source: Google News India - Business | 18 Jul 2008 | 10:41 am UltraTech Cement plans $479 mln expansionMUMBAI (Reuters) - UltraTech Cement aims to spend 20.5 billion rupees ($479 million) over the next three years to expand its business, the company said on Friday, after posting a modest 2.3 percent rise in quarterly profit.Source: Reuters: Money News | 18 Jul 2008 | 10:39 am India copper futures little changed amid high stocks - Reuters India
Source: Google News India - Business | 18 Jul 2008 | 10:38 am Promoters of innerwear maker VIP to enter wellness segmentMaxwell Industries Ltd, promoters of Indian innerwear major VIP Group, is planning to diversify into the lifestyle and wellness segment, the company's chairman and managing director Sunil Pathare said here Friday.Source: IndiaeNews.com: Business News | 18 Jul 2008 | 10:33 am Ultratech Cement net up two percent to $66.25 mnThe Aditya Birla group-promoted Ultratech Cement has announced a net profit of $66.25 million (Rs.2.65 billion) during the first quarter this fiscal, compared to $64.84 million (Rs.2.59 billion) for the corresponding period the previous year, registering a growth of two percent.Source: IndiaeNews.com: Business News | 18 Jul 2008 | 10:33 am Allahabad Bank net down 53 percent this quarterAllahabad Bank has announced a net profit of $23.34 million (Rs.933.6 million) during the first quarter this fiscal, compared to $50.09 million (Rs.2 billion) for the corresponding period previous year, a fall of about 53 percent.Source: IndiaeNews.com: Business News | 18 Jul 2008 | 10:32 am Congress alleges fraud in farm loan waiver in Uttar PradeshThe Congress Friday alleged irregularities in the implementation of the central government's farm loan waiver in Uttar Pradesh and claimed it had received complaints about it from across the state.Source: IndiaeNews.com: Business News | 18 Jul 2008 | 10:30 am LIC HFL Financial Services to first set up shop in MumbaiThe financial products distribution arm of LIC Housing Finance Limited will initially begin operations in Mumbai, a top company official said here Friday.Source: IndiaeNews.com: Business News | 18 Jul 2008 | 10:30 am Top India steel firms Q1 seen up, Hindalco to fallNEW DELHI (Reuters) - India's leading steel makers, Tata Steel and SAIL, are set to report higher quarterly profits after riding strong demand and firmer prices, but they face pressure from a government battling inflation.Source: Reuters: Money News | 18 Jul 2008 | 10:28 am Frame long-term policies, auction spectrum: Sarin - Business Standard
Source: Google News India - Business | 18 Jul 2008 | 10:12 am Highway authority allowed to clear forest for bypassTraffic snarls on the Himachal Pradesh-Haryana border may ease soon, as the environment ministry has given its nod to the National Highway Authority of India (NHAI) to cut down 12 hectares of forests for an 11-km-long bypass.Source: IndiaeNews.com: Business News | 18 Jul 2008 | 10:01 am Equity markets choppy, but still in the greenIndian equity markets turned choppy Friday but managed to stay in the green till early afternoon. There was buying interest in banking, realty, power and telecom stocks, but technology and metal stocks were under selling pressure.Source: IndiaeNews.com: Business News | 18 Jul 2008 | 10:01 am Apollo Tyres Q1 net up 4 pct, costs pinchNEW DELHI (Reuters) - Apollo Tyres Ltd's quarterly profit rose 4 percent, as rising raw material prices shaved off gains from higher sales, and the tyre maker said cost pressures would remain for the next few quarters.Source: Reuters: Money News | 18 Jul 2008 | 9:58 am Rupee eases on arbitrage - dealersMUMBAI (Reuters) - The rupee eased on Friday afternoon, on arbitrage by a few banks, which bought dollars locally to sell in the overseas market, but a buoyant stock market checked losses, dealers said.Source: Reuters: Money News | 18 Jul 2008 | 9:54 am Ranbaxy Says Drugmaker Tried to Foil Daiichi Purchase (Update1) - Bloomberg
Source: Google News India - Business | 18 Jul 2008 | 9:53 am Wipro Q1 profit misses forecast, remains cautious - Forbes
Source: Google News India - Business | 18 Jul 2008 | 9:07 am GSM players oppose onetime spectrum feeGSMbased mobile operators including Bharti Airtel, Vodafone Essar and Idea Cellular have written to the Prime Minister, Dr Manmohan Singh, against the proposal to impose onetime fee on telecom companies with more than 6.2 Mhz spectrum.Source: Moneycontrol Top Headlines | 18 Jul 2008 | 8:38 am Maytas Properties launches IT SEZ near HyderabadMaytas Properties Ltd has announced the launch of its first IT/ITES Special Economic Zone (SEZ), with an investment of Rs 2,500 crore, at Bachupally on the outskirts of Hyderabad.Source: Moneycontrol Top Headlines | 18 Jul 2008 | 8:35 am YES Bank sees good biz from epaymentsDespite its limited branch network, YES Bank foresees huge business opportunity from its epayment solutions offering. It has seized this opportunity by providing its customers online updates.Source: Moneycontrol Top Headlines | 18 Jul 2008 | 8:31 am LIC Housing Finance sees good business despite inflationEven as interest rates are inching up and inflation soaring, the LIC Housing Finance Company is confident of growing ahead of the industry's average growth rate, a top company official here said.Source: IndiaeNews.com: Business News | 18 Jul 2008 | 8:30 am SAIL unhappy as Jharkhand drags feet over mining lease renewalsSteel Authority of India Ltd (SAIL) is unhappy about the way the Jharkhand government is dragging its feet over the renewal of iron ore mining leases, says Kiran Kapoor, the company's executive director (raw materials).Source: IndiaeNews.com: Business News | 18 Jul 2008 | 8:30 am Fire disrupts Airtel services in Mumbai - Business Standard
Source: Google News India - Business | 18 Jul 2008 | 8:28 am Kirby bags Rs 190cr RenaultNissan contractPreengineered building (PEB) maker Kirby Systems has secured the mandate to execute infrastructure for RenaultNissan automotive project coming up near Chennai.Source: Moneycontrol Top Headlines | 18 Jul 2008 | 8:27 am Wipro Q1 profit misses forecast, remains cautiousBANGALORE (Reuters) - India's No.3 information technology outsourcer, Wipro Ltd, missed forecasts with a 15 percent rise in quarterly profit and expressed caution in the near term due to slowing Western economies, echoing its larger rivals.Source: Reuters: Money News | 18 Jul 2008 | 8:18 am India's rating could return to junk statusHONG KONG (Reuters) - India's hard-won investment-grade foreign debt rating is in danger of being cut back to junk status as slowing economic growth, rising inflation and growing debt wreak havoc on the country's finances.Source: Reuters: Money News | 18 Jul 2008 | 8:03 am Likely market reactions to India confidence voteMUMBAI (Reuters) - The parliament will hold a confidence vote on Tuesday which will decide the fate of the Congress party-led government.Source: Reuters: Money News | 18 Jul 2008 | 7:51 am Wipro net up 25 percent, cautious in the near-termWipro Ltd remains cautious in the near-term on revenue guidance from its combined IT services despite a healthy topline and bottomline growth in the first quarter (April-June) of this fiscal (2008-09) over the same period last fiscal.Source: IndiaeNews.com: Business News | 18 Jul 2008 | 6:00 am RIL kicks off arbitration against RCom on MTN issue !The warring Ambani siblings confronted again on Thursday, with elder Mukesh-led RIL starting the arbitration process against Anil Ambani group`s RCom which debunked the move as "legally and factually unwarranted".Source: Zee News : Business | 18 Jul 2008 | 12:08 am IMF revises India`s GDP forecast to 8% in 2008!Amid various disappointing indicators, India has received some solace with the International Monetary Fund marginally revising its projections for economic growth to 8 per cent in 2008 from its earlier estimates of 7.9 per cent.Source: Zee News : Business | 18 Jul 2008 | 12:08 am Pressure on prices continues, says Chidambaram!Finance Minister P Chidambaram on Thursday said that economy is still under inflationary pressure, a view expressed by the RBI Governor Y V Reddy who feels that the measures being taken by the central bank would help ease pressures on prices.Source: Zee News : Business | 18 Jul 2008 | 12:08 am Economy still under inflationary pressure: FM !Finance Minister P Chidambaram on Thursday said economy is still under inflationary pressure, a view expressed by the RBI Governor Y V Reddy who feels that the measures being taken by the Central Bank would help ease pressures on prices.Source: Zee News : Business | 18 Jul 2008 | 12:08 am UN Global Compact launched in Israel!The United Nations Global Compact, a voluntary initiative for social responsibilities in private enterprise involving 3,600 companies, has been launched in Israel.Source: Zee News : Business | 18 Jul 2008 | 12:08 am Govt may decide on open market wheat sale !In a move to bring down prices, government is likely to take a decision on Thursday to sell up to six million tons of wheat through open market operations in cities where the rates have risen.Source: Zee News : Business | 18 Jul 2008 | 12:08 am Ranbaxy issue: FDA under scanner !The US drug regulator FDA, which has charged Ranbaxy of selling unsafe medicines in the country, has come under the parliamentary scanner and will be probed for its conduct in approving the Indian pharma major`s products and other potential violations in the matter.Source: Zee News : Business | 18 Jul 2008 | 12:08 am Inflation stabilised on week-on-week basis: Fin Min!Relieved that inflation during the week-ended July 5 rose by only 0.02 per cent, the Finance Ministry on Thursday said the rate of price rise has stabilised on week-on-week basis, with prices of many essential items either declining or remaining static.Source: Zee News : Business | 18 Jul 2008 | 12:08 am Inflation inches up to 11.91%, may force RBI to increase rates !Inching closer to 12 per cent, inflation rose marginally to 11.91 per cent, even as Finance Minister P Chidambaram exuded confidence that measures being taken by the central bank would help moderate rising prices.Source: Zee News : Business | 18 Jul 2008 | 12:08 am RBI likely to hike rates further, retail NPAs to go up: Crisil !The Reserve Bank may go for another set of rate hikes in its quarterly review, to be announced on July 29, on back of soaring inflation, primarily fuelled by costly crude and commodity prices, rating agency Crisil said on Thursday.Source: Zee News : Business | 18 Jul 2008 | 12:08 am Realty companies now offer ‘walk-to-work’ conceptLESS TRAVEL, LESS STRESS. Hyderabad, July 17 Walk down to your workplace, and after a gruelling day there, take a stroll back to your home, leaving aside all the nightmarish thoughts about the traffic you might face either ...Source: Business Line - Home Page | 18 Jul 2008 | 12:00 am Confusion over GSPC’s IPO this yearNarendra Modi says company is financially sound. New Delhi/Gandhinagar, July 17 Even as Chief Minister Mr Narendra Modi on Thursday announced that Gujarat State Petroleum Corporation Ltd (GSPC) has struck fresh natural gas, with a total ...Source: Business Line - Home Page | 18 Jul 2008 | 12:00 am Day Trading GuideInitiate fresh long-position, only if the stock exceeds above Rs 570 level, with tight stop ...Source: Business Line - Home Page | 18 Jul 2008 | 12:00 am Coal market set to sizzle furtherMumbai, July 17 Coal prices that soared in 2008 could rise higher and stay at elevated levels due to ongoing structural shortages that could go on for a number of years. Developments on both demand and supply side are seen impacting the ...Source: Business Line - Home Page | 18 Jul 2008 | 12:00 am Pressure on prices remains: ChidambaramRBI’s assessment on inflation situation ‘fair and correct’. New Delhi, July 17 The Finance Minister, Mr P. Chidambaram, on Thursday said that the monetary measures taken by the Reserve Bank of India have started working even ...Source: Business Line - Home Page | 18 Jul 2008 | 12:00 am MTN row: Reliance appoints arbitratorMumbai, July 17 Reliance Industries said it has commenced arbitration proceedings in the Reliance Communications-MTN matter, and has nominated Mr Justice B. P. Jeevan Reddy, a former Judge of the Supreme Court, as an arbitrator for resolution ...Source: Business Line - Home Page | 18 Jul 2008 | 12:00 am Funds adopt active strategy to beat bear marketIncrease exposure to healthcare, telecom; cut auto. Mumbai, July 17 Even in the volatile equity markets, some equity schemes of mutual funds are outperforming their benchmark indices. Fund managers say this has been achieved by proactive ...Source: Business Line - Home Page | 18 Jul 2008 | 12:00 am Inflation rises marginally to 11.91%New Delhi, July 17 The annual Wholesale Price Index-based inflation moved up to 11.91 per cent for the week ended July 5, with a slowdown in the primary articles inflation ensuring that the rise was only marginally higher than the 11.89 per ...Source: Business Line - Home Page | 18 Jul 2008 | 12:00 am Storage level in major reservoirs lower than last yearSituation alarming in Gujarat, Maharashtra, M.P.. Chennai, July 17 The reality of an erratic monsoon is sinking in. Nothing illustrates this better than the storage levels in the 81 major reservoirs. A consolation, though, is that the ...Source: Business Line - Home Page | 18 Jul 2008 | 12:00 am Biocon standalone net dips 33% in first quarterOn absence of licensing income and exchange losses. Bangalore, July 17 Biocon Ltd has recorded a 33 per cent drop in its standalone net profit for the first quarter of this year over the same period last year. ...Source: Business Line - Home Page | 18 Jul 2008 | 12:00 am RAM launched in KolkataRadio Audience Measurement (RAM), the FM radio listenership measurement tool from TAM Media Research, has launched its services in Kolkata.Source: Daily News & Analysis: Money News | 17 Jul 2008 | 10:27 pm AutoDesk aims software at mid-end studiosThe rapid growth witnessed by the country's animation and visual effects (VFX) industry is attracting hordes of global software firms with a wide array of offerings for the segment.Source: Daily News & Analysis: Money News | 17 Jul 2008 | 10:26 pm 'Mid-market & luxury are where the growth is'Spencer's Retail, part of the Rs 13,500 crore RPG group, is the oldest retail chain in the country.Source: Daily News & Analysis: Money News | 17 Jul 2008 | 10:24 pm Buying a health cover for your parentsA mark of the modern times is that people wander far from home in search of career opportunities or business. The younger ones, that is.Source: Daily News & Analysis: Money News | 17 Jul 2008 | 10:22 pm Wanna know why US remains the world's largest debtor nation?The United States of America is the world's largest debtor nation. It's a borrowing binge that just does not seem to end. The question is, how does the US do it?Source: Daily News & Analysis: Money News | 17 Jul 2008 | 10:19 pm Anant Raj and Monsoon Cap in joint ventureAnant Raj Industries, an infrastructure development and construction firm that focuses on the National Capital Region (NCR), has entered into a joint venture with Monsoon Capital.Source: Daily News & Analysis: Money News | 17 Jul 2008 | 10:18 pm Sugar price decontrol may miss Oct dateThe government is likely to defer its plan to decontrol sugar prices in October on account of rising inflation and nearing elections.Source: Daily News & Analysis: Money News | 17 Jul 2008 | 10:17 pm PFC's loans climbed up 21% in Q1Quashing apprehensions of a possible impact of an economic slowdown, state-run Power Finance Corporation (PFC) has seen its loans grow by 21% for the quarter-ended June 2008.Source: Daily News & Analysis: Money News | 17 Jul 2008 | 10:16 pm ICI to set up decorative paints plantICI India, now an Akzo Nobel company, is likely to set up a decorative paints plant to augment capacity.Source: Daily News & Analysis: Money News | 17 Jul 2008 | 10:14 pm Biocon net falls 72% on foreign exchange lossesBiotech major Biocon Ltd's net profit fell 72% to Rs 15 crore in FY09 from Rs 53 crore in FY08 on mark-to-market provision of Rs 26 crore and forex losses of Rs 6 crore.Source: Daily News & Analysis: Money News | 17 Jul 2008 | 10:13 pm Ambiguity in DCGA norms to rescue rich famousAmbiguity in the DCGA norms could come to the rescue of the rich and famous who have been flying around in their private jets. High fliers like Mukesh and Anil Ambani, who have come under the customs scanner for using NonScheduled operators permit for private use, may get some respite thanks to the Directorate General of Civil Aviation.Source: Moneycontrol Top Headlines | 17 Jul 2008 | 8:47 pm RIL begins arbitration against RComIn a move that could escalate the feud between the Ambani brothers, Mukesh Ambani-controlled Reliance Industries Ltd (RIL) said today it has begun arbitration proceedings against younger brother Anil Ambani's Reliance Communications (RCom) over the first right of refusal (ROFR) for RCom shares.Source: Business Standard | Front Page Headlines | 17 Jul 2008 | 6:49 pm Plunging sales, soaring rentals see retailers quit mallsETAM, the French lingerie brand that has a joint venture with Kishore Biyani's Future Group, recently pulled out of Palm Beach Galleria mall in Navi Mumbai, together with six other retailers such as grocery chain Foodland Fresh and Manoranjan sarees.Source: Business Standard | Front Page Headlines | 17 Jul 2008 | 6:47 pm Ranbaxy tanks again on US govt probeAfter rising 15 per cent Wednesday, the Ranbaxy stock resumed its downward journey on reports in the US media that a US Congressional Committee will examine Ranbaxy's drug approvals in the US and potential violations of manufacturing regulations.Source: Business Standard | Front Page Headlines | 17 Jul 2008 | 6:46 pm
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