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SBI hikes BPLR to 1.75% from Aug 12State Bank of India, or SBI, has hiked its benchmark primelending rate, or BPLR, from 12.75% to 13.75% from August 12, reports CNBCTV18. It will hike deposit rates by up to 75 bps from Saturday. The rate hike is not applicable on existing auto loans.Source: Moneycontrol Top Headlines | 11 Aug 2008 | 6:38 pm Ratan Tata sees eco activity, consumer demand slowingRatan Tata, Chairman, Tata Steel, said the steel industry faced margins pressure from the cost rise in iron ore and coking coal in FY08, reports CNBCTV18. \"The steel industry absorbed most part of the cost through steel price increases.\" He expects some slowdown in economic activity and consumer demand.Source: Moneycontrol Top Headlines | 11 Aug 2008 | 6:28 pm Govt unlikely to relax PNote norms in nearterm: SrcsSources in the Finance Ministry said the government is unlikely to relax norms for Participatory Notes, or PNotes, in the nearterm, reports CNBCTV18. The ministry will notify new nongovernment provident fund investment norms in 23 days. It will also introduce a Pension Bill in the monsoon session of Parliament.Source: Moneycontrol Top Headlines | 11 Aug 2008 | 6:07 pm India crucial for Alibaba\'s global growth storyChina has set a new benchmark in hosting the Olympics, but did one know that China is also home to the world\'s largest ecommerce sites? It\'s called alibaba.com. Alibaba sees India as a key to become the world leader in trade.Source: Moneycontrol Top Headlines | 11 Aug 2008 | 5:44 pm Karuturi Networks sees FY09 profit at Rs 185crKS Ramakrishna, the Managing Director Karuturi Networks said the company accounts for 8% of the supply into the world markets and has a significant upside benefit from a large event like the Olympics. He sees the companys profit at Rs 185 crore and the topline Rs 670 crore from the flower business.Source: Moneycontrol Top Headlines | 11 Aug 2008 | 3:15 pm Akshay Kumar has been very lucky for us: Network 18Singh is Kinng has had a strong first week opening in both domestic and international markets. Haresh Chawla, Group CEO, Network 18, discusses the business of Studio 18 and the newly launched channel Colors. He said It has been the biggest opening ever that any Indian move has seen and it is still doing extremely strong business.Source: Moneycontrol Top Headlines | 11 Aug 2008 | 3:12 pm DoT asks Idea to surrender licenses in overlapping circlesDepartment of Telecom Secretary Siddharth Behura said Idea would have to surrender licenses in overlapping circles, reports CNBCTV18. The department will not refund the license fee. He said DoT would finalise 3G auction guidelines by September.Source: Moneycontrol Top Headlines | 11 Aug 2008 | 2:31 pm Think3 Inc collaborating with IntelThink3 Inc. is collaborating with Intel on its Business Exchange programme to reach out to new customers and network with new vendors through an innovative module.Source: Daily News & Analysis: Money News | 11 Aug 2008 | 1:41 pm SBI raises lending rate by 100 bpsNEW DELHI (Reuters) - State Bank of India, the country's top lender, will increase its prime lending rate by 100 basis points to an annual 13.75 percent, effective Tuesday, it said in a statement on Monday.Source: Reuters: Money News | 11 Aug 2008 | 1:37 pm ONGC, ILFSBHEL to ink deal for Tripura power plantONGC and ILFS will sign a pact with BHEL for the 726 mw Tripura power plant. The Oil Ministry will approach CCEA for a 36 month moratorium for oil exploration and production companies.Source: Moneycontrol Top Headlines | 11 Aug 2008 | 1:33 pm Set up bourse for small firms: PitrodaSam Pitroda-headed National Knowledge Commission has recommended setting up of a stock exchange for small companies and creating various instruments to help these firms.Source: Daily News & Analysis: Money News | 11 Aug 2008 | 1:18 pm Airtel launches Rs 1,947 special offerPrivate sector telecom operator Bharti Airtel on Monday announced an 'Independence Day Special' offer for its prepaid customers in Delhi and NCR.Source: Daily News & Analysis: Money News | 11 Aug 2008 | 1:13 pm Sensex up 336 points; uptrend continuesStock market benchmark Sensex on Monday spurted by 336 points on robust buying in banking majors ICICI Bank and SBI as well as some key realty, and energy stocks.Source: Daily News & Analysis: Money News | 11 Aug 2008 | 1:10 pm Wilbur Ross to infuse $100 mn in SpicejetWL Ross and Co. LLC will infuse $100 million (Rs.4.2 billion) in Indian low-cost carrier SpiceJet Ltd, a Spicejet statement said on Monday.Source: Daily News & Analysis: Money News | 11 Aug 2008 | 1:05 pm Event planned to attract IT industry to north KeralaCalicut IT Initiative (CITI), an organisation formed to promote Kozhikode as a major information technology destination in north Kerala, will hold a meet Aug 30 to showcase the human resource available in the region for the IT industry.Source: IndiaeNews.com: Business News | 11 Aug 2008 | 1:00 pm Assocham backs uniform land, steel plant policy across statesIndustry lobby Associated Chambers of Commerce and Industry of India (Assocham), in a representation to the Prime Minister's Office Monday, has called for a uniform policy across states for setting up steel plants.Source: IndiaeNews.com: Business News | 11 Aug 2008 | 1:00 pm Govt may tweak rate spreads for overseas borrowingNEW DELHI (Reuters) - India will not raise limits for corporate foreign borrowing despite pressure from firms wanting to tap cheaper funds amid rising rates at home, but may revise interest rate spreads, a finance ministry official said.Source: Reuters: Money News | 11 Aug 2008 | 12:27 pm Dr Reddys Lab, Teva settle patent disputePharmAsia News.com said that Dr Reddy\'s lab and Teva have settled their patent dispute over carvedilol and Dr Reddy\'s lab is now free to sell the carvedilol in the US.Source: Moneycontrol Top Headlines | 11 Aug 2008 | 12:24 pm Asians among Britain's top 10 retailersTwo retail empires built by an Indian and a Pakistani from humble beginnings have been named in a list of Britain's top 10 privately-owned retail companies published Monday.Source: Daily News & Analysis: Money News | 11 Aug 2008 | 12:18 pm Hindustan Zinc cuts zinc and lead pricesHindustan Zinc has cuts the prices of zinc and lead price by Rs 1,700 per tonne and Rs 900 per tonne respectively, reports CNBCTV18, quoting NewsWire18. The new lead and zinc prices are effective from August 9.Source: Moneycontrol Top Headlines | 11 Aug 2008 | 12:13 pm Nathpa plant resumes power generation in Himachal PradeshThe 1,500-megawatt (MW) Nathpa Jhakri Hydropower project in Kinnaur district of Himachal Pradesh Monday resumed power generation after remaining closed for more than 36 hours, a senior official said.Source: IndiaeNews.com: Business News | 11 Aug 2008 | 12:00 pm Govt approves 10 road projects for $2.5 blnNEW DELHI (Reuters) - The government on Monday approved 10 road projects to be build with the help of private firms at a cost of 105.07 billion rupees ($2.5 billion), the finance ministry said in a statement.Source: Reuters: Money News | 11 Aug 2008 | 11:40 am FMC wants brokers under anti-laundering actMUMBAI (Reuters) – The Forward Markets Commission (FMC), which regulates commodity markets, has written to the government to include commodity brokers in the ambit of the Prevention of Money Laundering Act 2002 or PMLA.Source: Reuters: Money News | 11 Aug 2008 | 11:35 am Oil up as Georgia conflict disrupts shipmentsLONDON (Reuters) - Oil edged above $116 on Monday, after fighting between Russia and Georgia disrupted exports from the Caspian region, helping to stem a steep selloff on the crude market.Source: Reuters: Money News | 11 Aug 2008 | 11:33 am Rains claim 78 lives, but allay drought fears in MaharashtraHeavy rains since last week have claimed 78 lives and wreaked havoc in several parts of the country, especially Andhra Pradesh and Orissa, but they brought cheer to farmers in Maharashtra by ending the drought-like situation the state was facing.Source: IndiaeNews.com: Business News | 11 Aug 2008 | 11:32 am Markets continue their gaining streakThe Indian equities markets continued their gaining rally and ended the day with a modest gain on the back of firm global cues and further fall in crude oil prices.Source: IndiaeNews.com: Business News | 11 Aug 2008 | 11:31 am Car sales fall 1.71 percent in JulyDomestic passenger car sales declined 1.71 percent to 87,724 units in July - the first decline in about three years - a report of the industry trade body released Monday said.Source: IndiaeNews.com: Business News | 11 Aug 2008 | 11:31 am Realty market to remain subdued in second halfProperty market in India will remain subdued in the second half of this year as developers are reluctant to lower prices to meet buyers' expectations, a report by real estate-focused consultancy firm CB Richard Ellis' released Monday.Source: IndiaeNews.com: Business News | 11 Aug 2008 | 11:31 am India's latest Economy Outlook to be tabled WednesdayPrime Minister Manmohan Singh's Economic Advisory Council (EAC) will present India's 'Economic Outlook 2008-09' Wednesday, making projections on where the economy is headed against the backdrop of rising inflation.Source: IndiaeNews.com: Business News | 11 Aug 2008 | 11:30 am Mumbai airport runway suffers damage, shut for repairsSeveral flights were affected at the Mumbai airport Monday when it was shut for some time for repairs after the main runway suffered surface damage due to heavy rains in the city.Source: IndiaeNews.com: Business News | 11 Aug 2008 | 11:30 am Wilbur Ross to infuse $100 mn in SpicejetGlobal private equity firm and leveraged buyout specialist WL Ross and Co. LLC will infuse $100 million (Rs.4.2 billion) in Indian low-cost carrier SpiceJet Ltd, a Spicejet statement said Monday.Source: IndiaeNews.com: Business News | 11 Aug 2008 | 11:30 am Car sales go downhill, 2-wheelers growDomestic car sales registered a negative growth for the first time in nearly three years with July sales posting a 1.71 per cent decline as compared to the same month last year.Source: Daily News & Analysis: Money News | 11 Aug 2008 | 11:28 am Indian shares rally 2.2 pct; banks, realty climbNEW DELHI (Reuters) - Indian shares rose 2.2 percent on Monday to their highest close in eight weeks, led by Reliance Industries and ICICI Bank, as a global rally raised hopes for foreign inflows.Source: Reuters: Money News | 11 Aug 2008 | 11:02 am Pick a computer monitor that's right for youMonitors frame our relationship with our computers and a great computer is only as good as its monitor.Source: Daily News & Analysis: Money News | 11 Aug 2008 | 10:41 am India's July gold imports drop 56 pct on year - tradeMUMBAI (Reuters) - India's gold imports in July fell nearly 56 percent from a year ago as higher prices led to a drop in retail sales, a top industry official said on Monday.Source: Reuters: Money News | 11 Aug 2008 | 10:18 am Gold up from 3-month low as firm oil fuels buyingLONDON (Reuters) - Gold climbed in Europe on Monday as conflict over South Ossetia pushed oil prices higher, prompting investors to hunt bargains after the metal slid to a three-month low on Friday.Source: Reuters: Money News | 11 Aug 2008 | 9:56 am India gold buying continues, supplies fall shortMUMBAI (Reuters) - Indian gold was lower in the spot market on Monday and stocks were scarce, as buyers rushed to cash in on prices near a three-month low, dealers said.Source: Reuters: Money News | 11 Aug 2008 | 9:00 am CBDT to fine tune CASS norms for scrutiny of cos!The procedure of identifying possible tax evasion by corporate through computer aided scrutiny selection system (CASS) is being fine tuned by the CBDT for proper scrutiny of tax returns and recovery of dues, said a CBDT member.Source: Zee News : Business | 11 Aug 2008 | 12:12 am Tatas to start Blackberry services!Tata Teleservices will launch the premium Blackberry mobile services in the next two months, although security concerns about the service remains, but promised to abide by the rules whenever the government firms them up.Source: Zee News : Business | 11 Aug 2008 | 12:12 am India`s domestic IT growth now beats exports: Survey!India`s booming IT market has seen the domestic demand growth outstrip exports for the first time in over a decade, thanks to the maturing outsourcing market, says a new survey.Source: Zee News : Business | 11 Aug 2008 | 12:12 am No takers for Chaturvedi panel recommendations on oil prices!The B K Chaturvedi panel suggestions of raising fuel prices to bring them at par with production cost and levying Super Profit Tax on oilfields awarded before 1999, has met with lukewarm response with some in the government saying the "radical" measures were unimplementable.Source: Zee News : Business | 11 Aug 2008 | 12:12 am Govt moves SC in 9-yr-old Coke pricing formula case!The government has moved the Supreme Court accusing Hindustan Coca Cola Beverages of under- stating the retail price of its aerated drinks and thus evading duty between June-December 1999.Source: Zee News : Business | 11 Aug 2008 | 12:12 am Tata Steel to dispose off low-profiteering Corus assets!Aiming to almost double the Return on Invested Capital (RoIC) in five years, Tata Steel Group might dispose off some low-profiteering assets of Corus, the Anglo-Dutch steel maker which it had acquired for USD 12.9 billion last year.Source: Zee News : Business | 11 Aug 2008 | 12:12 am LinkedIn looking for Indian partners!World`s largest professional networking website LinkedIn is scouting for partners in India as it aims to bag a lage mindshare for the brand in the country.Source: Zee News : Business | 11 Aug 2008 | 12:12 am No mobile signal in border areas: Govt to telcos!Stepping up security across the border, the government has asked mobile companies to install equipment to neutralise radio signals emanating from mobile phones in these areas.Source: Zee News : Business | 11 Aug 2008 | 12:12 am Rural Development, HRD Ministries owe Rs 22,000 crore to FCI!The Ministries of Rural Development and Human Resources Development are yet to pay over Rs 22,000 crore to Food Corporation of India for supplying foodgrains for mid-day meal and employment guarantee schemes.Source: Zee News : Business | 11 Aug 2008 | 12:12 am I-Tax e-filing grows 7 times this fiscal!In an indication of the growing tech-savvy taxpayers opting for e-payment for filing tax returns, the Income Tax department has registered a seven-fold increase in the number of people using the paperless facility since last year.Source: Zee News : Business | 11 Aug 2008 | 12:12 am Dividend chasing not for the faint hearted!Coimbatore, Aug. 10 As the dividend season draws to a near close, for those investors who had been chasing stocks for dividend earnings, it is a time of stock taking as to whether it was a worthy strategy.. It is true that investing in high ...Source: Business Line - Home Page | 11 Aug 2008 | 12:00 am Low prices, delayed payments pull down sugar outputSugarcane gives way to soya, maize as growers switch crops. Chennai, Aug. 10 Low prices for sugar during the last two years and delay in payment for sugarcane delivered by growers to sugar mills seem to have taken a toll on the ...Source: Business Line - Home Page | 11 Aug 2008 | 12:00 am Rising yields bring foreign investors back into debt marketEasier buyback norms of bonds another attraction. Mumbai, Aug. 10 Rising bond yields and more flexible regulations have paved the way for the return of foreign institutional investors (FIIs) to the Indian debt market. ...Source: Business Line - Home Page | 11 Aug 2008 | 12:00 am The can-do Olympics spiritLast Friday, I was in Beijing and, it was the kind of day the Chinese Government undeniably wanted to have for the Olympics opening. A sunny blue sky over Beijing with barely a cloud to be seen and the western mountains plainly visible in the ...Source: Business Line - Home Page | 11 Aug 2008 | 12:00 am Sugar-free biscuits, chyawanprash come under health scannerMumbai, Aug. 10 Sugar-free chyawanprash and biscuits have come under the scanner of health authorities, for containing artificial sweeteners not outlined in existing health-related rules. ...Source: Business Line - Home Page | 11 Aug 2008 | 12:00 am Further drop likely in gold as dollar looks to gain strength‘Slowdown in commodities could last up to six months’. Chennai, Aug. 10 The weekend witnessed a crash in commodities as the dollar gained strength. The greenback that has been gaining strength has got nothing to do with any bright ...Source: Business Line - Home Page | 11 Aug 2008 | 12:00 am Voltas (Rs 137.2): BuyWe recommend a buy in Voltas from a short-term perspective. From the charts of Voltas we see that it we see that it was on an intermediate-term downtrend from its January high of Rs 261 to its July low of Rs 114. However, the stock found support ...Source: Business Line - Home Page | 11 Aug 2008 | 12:00 am The worrisome imbalanceThe latest reports speak of an international agency indicating a downgrading of India’s credit status to reflect its concerns about the alleged or real weaknesses of the fiscal position of India. Time was when such sabre rattling by ...Source: Business Line - Home Page | 11 Aug 2008 | 12:00 am Demand for rail signalling expertise growingNew Delhi, Aug. 10 With the railway industry on an upsurge the world over, some of the Indian companies with expertise in rail signalling and track laying — set up and led by former Indian Railway officials — are witnessing growth ...Source: Business Line - Home Page | 11 Aug 2008 | 12:00 am Reliance to invest $23 m for work on Cauvery assetNew Delhi, Aug. 10 Reliance Industries plans to invest about $22.75 million for work on its discovered deepwater Cauvery asset. ...Source: Business Line - Home Page | 11 Aug 2008 | 12:00 am Feedstock hits RIL and Essar's $13.5 bn planReliance Industries' plan to invest $10 billion, and Essar Oil's plan to invest $3.5 billion to set up petroleum refineries and allied businesses in Egypt have hit a roadblockSource: Daily News & Analysis: Money News | 10 Aug 2008 | 11:01 pm Lakshmi Mittal winging into SpiceJet?Lakshmi Niwas Mittal, the London-based billionaire who controls ArcelorMittal, the world's largest steel company, is believed to have evinced interest in buying ailing low-cost carrier SpiceJet.Source: Daily News & Analysis: Money News | 10 Aug 2008 | 10:59 pm Shiv Nadar seeks land in Noida for university projectHCL's Founder and Chairman Shiv Nadar is making a second foray into university education having sought 300 acres of land in Noida, near New Delhi, to set up a Rs 300-crore multi-disciplinarySource: Business Standard | Front Page Headlines | 10 Aug 2008 | 6:54 pm Rich job offers cause poor response for economics PhDsPoor faculty and scholarships also dissuade students.??D K Srivastava, director of Madras School of Economics (MSE), is disappointed when he sees 50 Masters students graduate every year withSource: Business Standard | Front Page Headlines | 10 Aug 2008 | 6:52 pm Bulk drug prices to fall after OlympicsWith China expected to reopen several hundred bulk drug units after the Olympics, prices of some key bulk drugs, including penicillin and paracetamol, have crashed in the Indian market.??IndustrySource: Business Standard | Front Page Headlines | 10 Aug 2008 | 6:51 pm Nahata-Dhoot talks fail over Datacom buyoutTalks have failed between the Dhoots of the Videocon group and Mahendra Nahata of Himachal Futuristic Communications Ltd (HFCL) to buy out the latter's 36 per cent stake in all-India mobileSource: Business Standard | Front Page Headlines | 10 Aug 2008 | 6:50 pm
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