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HC asks RNRL to produce part of MoU with RILHigh Court has asked RNRL to produce a portion of the MoU relating to GSMA as it is difficult to produce the entire copy of the MoU. RNRL has agreed to produce the specific portion of the MoU relating to GSMA.Source: Moneycontrol Top Headlines | 2 Sep 2008 | 4:58 pm Emco eyes 3035% margin growth over next 23 yrsRajesh Jain, Chairman Managing Director of Emco sees his companys topline growth in excess of 35% for FY09, over what it did last year. The companys EBDITA margins would be anywhere close to about 13% or about that point, he said. In the next 23 years, we have plans of growing at a rate of 30% to 35%, Jain said.Source: Moneycontrol Top Headlines | 2 Sep 2008 | 4:36 pm UCO Bk floats arm; NIMs to rise by 2.20%UCO Bank has floated a subsidiary. SK Goel, Chairman of UCO Bank said that this is going to be a financial services company where the bank is likely to pick up about 49% stake. He expects net interest margin to go up to 2.20% in the second half and a fee income of almost Rs 80 crore this year.Source: Moneycontrol Top Headlines | 2 Sep 2008 | 3:32 pm Wipro US Co JV to set up development centres in IndiaWipro has tiedup with the USbased Harman International for Development Centres in India. Wipro will start the Development Centre in Bangalore and Chennai which would staff 250 people.Source: Moneycontrol Top Headlines | 2 Sep 2008 | 3:19 pm Deccan\'s first int\'l flight to take off on WednesdayDeccan Aviation is buzzing on the back of cooling crude and its launch of international flights. The stock was up on crude cooling off, ATF, or aviaton turbine fuel price and its launch of international flights. It has been rebranded to Kingfisher Red. The cooling ATF prices saw a cut down on operating losses for the company.Source: Moneycontrol Top Headlines | 2 Sep 2008 | 3:13 pm HDFC MF overtakes ICICI PruHDFC Mutual Fund has overtaken ICICI Prudential as the country's second largest fund house after the industry snapped its 2-month losing streak to record a 3% rise in its asset base.Source: Daily News & Analysis: Money News | 2 Sep 2008 | 1:10 pm HC asks RNRL to produce part of MoU with RIL - Moneycontrol.com
Source: Google News India - Business | 2 Sep 2008 | 12:42 pm Oil falls to $108 as Gustav fadesLONDON (Reuters) - Oil slid to around $108 a barrel on Tuesday after early reports showed Hurricane Gustav had spared major U.S. Gulf oil facilities.Source: Reuters: Money News | 2 Sep 2008 | 12:41 pm Gold falls more than 2 pct on oil, dollarLONDON (Reuters) - Gold dropped over two percent towards $800 an ounce on Tuesday, after a steep drop in oil prices and a rally in the dollar reduced the precious metal's appeal.Source: Reuters: Money News | 2 Sep 2008 | 12:29 pm Archies to distribute UK brand 'Me to You' products - Reuters India
Source: Google News India - Business | 2 Sep 2008 | 12:27 pm Interest rate futures to be launched soon: CB Bhave - Moneycontrol.com
Source: Google News India - Business | 2 Sep 2008 | 12:27 pm Bosch board approves share buy back at Rs 4500 a piece - Business Standard
Source: Google News India - Business | 2 Sep 2008 | 12:24 pm India corn lower on US trend; acreage limits losses - Reuters India
Source: Google News India - Business | 2 Sep 2008 | 12:20 pm Thousands protest against POSCO steel plant in IndiaBHUBANESWAR, India (Reuters) - Thousands of people demonstrated in Orissa on Tuesday against South Korean firm POSCO's plans to build a steel plant, the first major protest since the Supreme Court gave the project the go-ahead.Source: Reuters: Money News | 2 Sep 2008 | 12:13 pm Oil falls below $ 106 per barrel - Business Standard
Source: Google News India - Business | 2 Sep 2008 | 12:13 pm LIC may launch credit card next month!Life Insurance Corporation of India (LIC), may launch its much awaited credit card in October, according to its senior divisional manager Bhausaheb Gujar.Source: Zee News : Business | 2 Sep 2008 | 12:11 pm Reliance Life Sciences looks for acquisition!Reliance Life Sciences has said it is looking for acquisitions in the clinical research space, but high-valuations are hindering its plans.Source: Zee News : Business | 2 Sep 2008 | 12:11 pm UAE firm signs agreement with India`s TERI!The United Arab Emirates (UAE)-based power company ETA Star International, a member of the ETA Ascon Star Group, has entered into an agreement with The Energy and Resources Institute (TERI) of India to explore areas of cooperation in sustainable development.Source: Zee News : Business | 2 Sep 2008 | 12:11 pm Tata honoured for contribution to Indo-British partnership!Ratan Tata, Chairman of one of largest business conglomerates, the Tata Group, has been awarded by the UK India Business Council for his significant contribution to Indo-British business partnership.Source: Zee News : Business | 2 Sep 2008 | 12:11 pm Expect further RBI tightening, high inflation in FY 09: Barclays!High inflation and continuing disturbances in the domestic economy might prompt the Reserve Bank of India to hike its key rates by another 0.5 percent in the near future, a top banker said.Source: Zee News : Business | 2 Sep 2008 | 12:11 pm Bata Shoe owner Thomas Bata passes away at 93!Thomas Bata, owner of the family-owned world-famous shoe company, died here Monday. A great friend of India, Bata was 93.Source: Zee News : Business | 2 Sep 2008 | 12:11 pm Sensex opens at 14,642, up 143 pts!The Bombay Stock Exchange benchmark Sensex gained 143 points in early trade today on fresh buying by funds in heavy-weight stocks, sparked by fall in global crude oil prices.Source: Zee News : Business | 2 Sep 2008 | 12:11 pm Suzuki plans shifting research, development to India - Economic Times
Source: Google News India - Business | 2 Sep 2008 | 12:04 pm Will new RBI Chief continue the hawkish stance? - Moneycontrol.com
Source: Google News India - Business | 2 Sep 2008 | 12:01 pm Tata group signs MoU with TN govtChennai: The Tata group signed a Memorandum of Understanding (MoU) with the Tamil Nadu (TN) government to set up a Fisheries Institute of Technology and Training (FITT). The FITT, to come up at Muttukadu village in Kancheepuram district, would evolve a plan to increase fish catch, breeding of sea fish and their sale, with TATA working as technical partner with the state government. According to an official press release, the institute would also help increase fish population by setting up hatcheries. TATAs would bear the expense of office rent, purchase of vehicles and foreign technology and training of Indian experts abroad for the first six months Source: LatestNews-Home - Livemint.com | 2 Sep 2008 | 11:50 am Indian shares up 3.8 pct on oil slide, banks jumpNEW DELHI (Reuters) - Indian shares rallied 3.8 percent on Tuesday, their biggest single-day rise in six weeks, as tumbling oil prices calmed inflation expectations and raised hopes for steady interest rates.Source: Reuters: Money News | 2 Sep 2008 | 11:48 am Trinamool leader meets Governor for third time - Hindu
Source: Google News India - Business | 2 Sep 2008 | 11:37 am Tata Motors fixes pricing for Rs 4200 crore rights issue - Economic Times
Source: Google News India - Business | 2 Sep 2008 | 11:29 am SEBI to review IPO grading conceptKolkata: Market regulate SEBI today said it will review the IPO grading concept as it has gained some experience after receiving both positive and negative responses from the concept. “Now, we have some experience. The primary market committee will take up the matter whether it is proper to continue,” Securities and Exchange Board of India Chairman C B Bhave said at an interactive session with Merchants Chamber of Commerce. Since April 2007, SEBI has made it mandatory for all IPOs to be graded by rating agencies. After a company gets the SEBI’s nod it has to rope in rating agencies like ICRA, Crisil, Fitch and CARE. The grades obtained have to be disclosed in the prospectus. The grade varies between one and five where five is the best and one is poor in fundamentals. Source: LatestNews-Home - Livemint.com | 2 Sep 2008 | 11:08 am Rupee weakens on trade data, RBI watchedMUMBAI (Reuters) - The Indian rupee weakened to a one and half year low on Tuesday as concerns over a widening trade deficit hurt sentiment, but traders were wary of the Reserve Bank of India intervening again to curb a further fall.Source: Reuters: Money News | 2 Sep 2008 | 11:01 am Tata Motors fix pricing for Rs4,200 crore rights issueMumbai: Auto maker Tata Motors today announced the pricing and other details of the Rs4,200-crore rights issues which the company plans to come out with to partly finance the buyout of British luxury brands Jaguar and Land Rover. Tata Motors would go for two but unlinked rights issue in the ratio of 1:6, that is one ordinary share for every six shares held in the firm. The rights issue is slated to open by the end of September. The shares have a face value of Rs10 each, it said in a filing to the Bombay Stock Exchange. The company would issue ordinary shares at a price of Rs 340 per share aggregating Rs2,186 crore. Further, it would allot ‘A´ ordinary shares at a price of Rs305 per piece, amounting Rs1,961 crore. “The proposed issue, subject to the necessary regulatory approvals/process, is slated to open around September end, 2008. The proceeds of the issue would be used to prepay part of the Short Term Bridge Loan availed by its subsidiary for financing the acquisition of Jaguar Land Rover from Ford which was completed on June 2, 2008,” the filing said. The ‘A´ ordinary shares would have differential rights as to voting and dividend. An ‘A´ ordinary shareholder would be entitled to one vote for every ten ‘A´ ordinary shares held in the company. Further, they would be entitled to receive dividend at five% points more than the rate of dividend declared on the ordinary shares. The proposal was approved by the Committee of Directors of the company. Source: Home - Livemint.com | 2 Sep 2008 | 11:01 am NMDC to invest Rs12k cr in Chhattisgarh steel plantNew Delhi: State-run mining behemoth NMDC will invest about Rs12,000 crore to set up an integrated steel plant in Chhattisgarh with an annual capacity of three million tons. “The company will invest about Rs 12,000 crore in the project,” company sources said. The foundation stone would be laid on Wednesday by Steel Minister Ram Vilas Paswan. “... The Minister for Chemicals and Fertilisers and Steel Ram Vilas Paswan and the Chief Minister of Chhattisgarh Raman Singh will be laying the foundation stone to the proposed Integrated Steel Plant at Nagarnar on September 03, 2008,” said the company in a filing to the Bombay Stock Exchange today. Last year, three public sector units - Steel Authority of India Ltd (SAIL), National Mineral Development Corporation (NMDC) and Rashtriya Ispat Nigam Ltd (RINL) had joined hands to set up the plant but earlier this year NMDC said it would be going solo on the project. Earlier, NMDC had identified land near Dilimili in Chhattisgarh and state-run MECON had prepared the feasibility report for the proposed plant. But, the mining PSU was later asked to relocate it, sources added. Source: LatestNews-Home - Livemint.com | 2 Sep 2008 | 10:47 am Euro falls below $1.45 for first time since 12 FebLondon: The euro fell below $1.45 dollars level for the first time since 12 February as the market anticipated lower interest rates in the euro zone. In early London trade, the euro was at $1.4499, down from $1.4582 in Asian deals and from $1.4606 here late Monday. Dealers said the market was betting that the European Central Bank will have to consider a cut in interest rates sooner rather than later as the 15-nation eurozone economy slows further after contracting 0.2% in the three months to June. “The dollar could post further gains as other central banks acknowledge the worsening economy,” Chuo Mitsui Trust Bank strategist Yosuke Hosokawa said in Tokyo. “Markets are focused on the weakness of economies other than the US. There is a widespread view that currencies will further weaken against the dollar,” Hosokawa said. The Bank of England and the European Central Bank are both expected to leave their key lending rates on hold on Thursday but there is growing speculation they will be forced to cut rates before long. The Australian central bank expected to cut its benchmark rate by a quarter point to 7.0% today for the first time since 2002. Reserve Bank of Australia governor Glenn Stevens said the decision had been taken because financial conditions had become quite tight. “Conditions in international financial markets remain difficult, with heightened concerns over credit persisting,” Stevens said. Source: LatestNews-Home - Livemint.com | 2 Sep 2008 | 10:43 am Rajasthan to be a power surplus state by 2012Jaipur: “Rajasthan is aiming to become a power surplus state and is targeting to achieve electricity production capacity of 12,500 MW in the next four years,” an official said. At present, the total production of the state stands at 6,444 MW and an additional 1,200 MW would be added with the commissioning of two units of 600 MW each of Kalisindh Thermal Power project at Jhalawar by January 2012, Rajasthan State Power Generating Corporation spokesperson told PTI. “The total cost of the two units is estimated at around Rs5,500 crore and would be completed in two phases,” he said. “A number of other power projects of various capacities are also in the pipeline and with their completion there would be no shortage of power and no more buying would be required from the power grid,” he added. Chief Minister Vasundhara Raje would lay the foudation stone of the super thermal projects at Jhalawar tomorrow. Source: LatestNews-Home - Livemint.com | 2 Sep 2008 | 10:40 am Sensex surges 551 points by closeBy Livemint.com Mumbai: The markets registered strong gains on a sharp fall in crude oil prices with the BSE benchmark index moving up 551 points by close to 15,050 levels. In broader markets, the Nifty gained 155 points to 4,504 levels. Oil prices slipped to $106 a barrel in electronic trading on the New York Mercantile Exchange as Hurricane Gustav weakened and spared key US energy installations. Back home, a decline in oil prices triggered a rally in banking scrips on hopes of lower inflation and stable interest rates. The banking index moved up over 6% by close with Kotak Mahindra Bank flaring 9.6%. Axis Bank, Canara Bank, Indian Overseas Bank, Punjab National Bank, State Bank of India, ICICI Bank, Union Bank of India and HDFC Bank also logged smart gains. Orbit Corporation (16.8%), HDIL (up 16.3%), Indiabulls Real Estate (9.6%), Unitech Limited (7.1%), DLF Limited (7.1%), Peninsula Land 5.7%) and Sobha Developers (6.2%) were some of the notable gainers in the realty pack. Source: Home - Livemint.com | 2 Sep 2008 | 10:32 am POLL - Annual inflation seen at 12.44 pct on Aug 23MUMBAI (Reuters) - India's annual inflation rate is expected to have inched up in the third week of August, driven by higher prices of some commodities and demand pressures in Asia's third-biggest economy, a Reuters poll showed on Tuesday.Source: Reuters: Money News | 2 Sep 2008 | 10:17 am Ranbaxy open offer to close on Sept 4The Ranbaxy open offer will close on September 4. The Ranbaxy stock was down as Monday was the last day for the cash delivery to tender in the open offer.Source: Moneycontrol Top Headlines | 2 Sep 2008 | 10:16 am Temasek offers funding deal to power unit biddersSINGAPORE (Reuters) - Singapore sovereign fund Temasek, which is seeking bids for its Senoko Power generating unit, is offering a financing arrangement to bidders, sources said, that could speed up the $3 billion deal.Source: Reuters: Money News | 2 Sep 2008 | 9:41 am Left against PPP model in railwaysNew Delhi: Cautioning against PSUs going in for major projects under the public-private partnership (PPP) model, the Left today said railways should not lose its assets in the process. “We should be more cautious while opting for PPP model. Raise the resources, modernise it but do not privatise,” said CPI(M) MP Sitaram Yechury. While praising Railway Minister Lalu Prasad for the growth for railways in the country, Yechury said that the RJD chief has not allowed any interference in its functioning and the result is for everybody to see. Terming railway as the lifeline of the country, Yechury said that it touches everyone’s life and symbolises unity. “But there is a need to link inaccessible areas of the country,” he added. He was speaking in a book release function here. The book ‘Turnaround Story of Indian Railways’, written by Vivek Khare deals with evolution of railway and its expansion all over the world and in particular in India. Speaking on the occasion, BJP spokesperson Prakash Javadekar termed the growth of the railways as a continued growth story. He said: “No matter which party forms the government, growth story should continue.” “During NDA’s regime at the Centre, Rs32,000 crore was given to railways to strengthen its operation. Our national agenda should be to link all corners of the country including Kashmir and Arunachal Pradesh in the next 10 years,” Yechury said. Source: LatestNews-Home - Livemint.com | 2 Sep 2008 | 9:39 am Tata Motors to raise $935 mln in rights issuesNEW DELHI (Reuters) - Tata Motors Ltd, India's top vehicle maker, said on Tuesday it would raise 41.5 billion rupees ($935 million) through two rights issues that are expected to open around the end of September.Source: Reuters: Money News | 2 Sep 2008 | 9:37 am BIS to appoint private agency to curb misuse of ISI markChandigarh: To tighten its noose around unscrupulous manufacturers engaged in misusing ISI mark, national standard body Bureau of Indian Standards (BIS) has decided to appoint private agencies for providing vital inputs so as to take tough action against the defaulters. “We have decided to have a private agency or private detectives run by professionals including security agencies which will provide us critical information with regard to misuse of ISI mark by any type of industry,” BIS Deputy Director General, northern region, Bhupinder Singh said. The main idea of roping in a private agency is to curb the practice of applying of ISI mark by manufacturers on their products without having valid licence for the same. “The area of operation of an agency will be restricted to carry out market survey in the trade and industry and find out if there is any misuse of ISI mark by any industrialist. After verifying the information provided by that agency, BIS officials will conduct raid on these manufacturers as part of its measures to stop this practice,” he informed. Although the misuse of ISI mark has declined in the northern region over past few years, he said. “But there are sme industries such as cables, bulbs, paint, plywood where the misuse of ISI mark is still prevalent,” he added. During this financial year, BIS has already conducted 10 raids on several north-based manufacturers for using ISI mark on their products without having licence and seized huge quantity of material. A spokesman of BIS informed that a team of BIS conducted raid on a Panchkula-based wire and cable manufacturing unit and found misuse of ISI Mark on wires and cables by manufacturing these products in the name of various manufacturers, without having a valid licence from the Bureau. The firm was also marking ‘As per ISI´on the packing material as well. As per notification issued under Electrical Wires, Cables, Appliances and Protection Devices and Accessories (Quality Control) Order 2003, ISI marking on wires and cables is mandatory. In another raid, BIS officials found a Sonepat-based submersible pump firm using ISI Mark without valid licence. BIS seized 12 submersible pumps of different ratings, 600 stickers bearing ISI Mark, 2,000 rating plates and five rolls of polythene wrapping. Similarly, a raid was conducted on a Ludhiana-based plywood maker and found misuse of the BIS standard mark on their product Plywood and Block Boards without having a valid licence from BIS. According to the BIS Act, use of ISI Mark or any colourable imitation thereof without a valid licence is punishable with imprisonment up to one year or a fine up to Rs50,000 or both. Almost 4,000 industrial units engaged in electrical, cement, sewing machine, cable, plywood and pipe fittings and operating in Punjab, Haryana, Chandigarh, Himachal Pradesh, Jammu and Kashmir and some parts of UP and Uttranchal are registered with BIS northern region. Source: LatestNews-Home - Livemint.com | 2 Sep 2008 | 9:16 am Bosch board to consider buyback todayThe Bosh board will consider a buyback today. This would be the fourth attempt by the parent company to hike its stake in the Indian company. The buyback offer is likely to be for 32 lakh shares, that is 10% of the equity. The base price for the buyback at a sixmonth average works out to Rs 3850 per share.Source: Moneycontrol Top Headlines | 2 Sep 2008 | 9:14 am Russia to suffer economically and politically: BritainDublin: Russia will suffer politically and economically for its military intervention in Georgia even though it may have won short-term gains, British Foreign Secretary David Miliband said on Tuesday. Moscow is now more isolated and less trusted than it was a month ago, Miliband wrote in an opinion piece in the Irish Examiner newspaper. Russia crushed its southern neighbour in a brief war last month after Georgia tried to recapture by force its pro-Moscow, separatist region of South Ossetia. It has drawn Western condemnation by pushing beyond the disputed area, bombing and deploying troops deep inside Georgia proper. “It has made short-term military gains, but over time it will feel economic and political losses. If Russia truly wants respect and influence, it must change course,” Miliband wrote. European Union leaders agreed on Monday to postpone talks with Russia on a new partnership pact due later this month until Moscow withdraws its troops to pre-conflict positions in Georgia. The EU avoided imposing sanctions on its largest energy supplier. “Isolating Russia would be counter-productive, because its international economic integration is the best discipline on its politics,” Miliband said. Miliband said Europeans needed Russian gas but Russia also needed European markets and investment. Source: LatestNews-Home - Livemint.com | 2 Sep 2008 | 9:13 am Ambuja’s cement output jumps 6.9% in AugustPTI New Delhi: Ambuja Cements has reported a nearly 7% growth in cement production at 12.08 lakh tonnes during last month against 11.30 lakh tonnes in the year-ago period. “Sales grew by 7.7% at 12.40 lakh tonnes in August 2008, compared to 11.51 lakh tonnes in August 2007,” Ambuja Cements Ltd said in a statement. During the first eight months of 2008, the company’s cement production went up by 5.3% at 118.25 lakh tonnes against 112.25 lakh tonnes in the corresponding period of 2007. “Sales during January-August 2008 rose 5.1% at 118.26 lakh tonnes against 112.53 lakh tonnes in the year-ago period,” it added. Source: LatestNews-Home - Livemint.com | 2 Sep 2008 | 9:04 am RBI intervenes to support rupee-tradersMUMBAI (Reuters) – Reserve Bank of India was seen selling dollars on Tuesday afternoon as the rupee hit 1-½ year lows just ahead of 44.50 per dollar, two traders said.Source: Reuters: Money News | 2 Sep 2008 | 8:55 am Attrition rate in BPOs highest in the country: ReportThe attrition in the Business Process Outsourcing (BPO) industry is roughly 7.8 percentage points higher than other sectors, a report by global management consulting firm Hay Group said on Monday.Source: Moneycontrol Top Headlines | 2 Sep 2008 | 8:52 am Patni expects to double revenues from domestic mkt soonCitybased Patni Computer Systems has joined the list of IT firms aspiring to capture a major slice of the domestic IT outsourcing market. The countrys sixth largest software exporter expects revenues from servicing Indiabased clients to double by 2011, Mr Deepak Khosla, Senior VicePresident and head Asia Pacific, told Business Line.Source: Moneycontrol Top Headlines | 2 Sep 2008 | 8:50 am IOC to expand Panipat refinery to 15 MTNew Delhi: Indian Oil Corp oration (IOC) will expand the capacity of its Panipat refinery to 15 million tons (MT) a year by end 2009 and will complete a naphtha cracker complex by September next year. “We will complete expansion from 12 million tons to 15 million tons by December 2009,” IOC Director—Refineries B N Bankapur said. The company is investing Rs806 crore in expanding the refining capacity that will also make the unit capable of producing Euro-III and Euro IV petrol and diesel. Last year, the company had invested Rs4,165 crore in doubling the Panipat refinery capacity to 12 million tons. Bankapur said that the naphtha cracker that will use the naphtha stream from the expanded refinery would be completed by September 2009. “Both the expansion and naphtha cracker complex are to come together,” he added indicating that the commissioning of the plant will be synchronised with the expansion. The complex will help the company produce Paraxylene and PTA that are used in making Polyester Staple Fiber and Polyester Filament Yarn and other resins. Source: LatestNews-Home - Livemint.com | 2 Sep 2008 | 8:50 am MercedesBenz drives bus into IndiaMercedesBenz has entered the bus business in the country with the launch of its first ever bus, a luxury intercity coach that will initially operate on a few designated routes in Maharashtra and southern India.Source: Moneycontrol Top Headlines | 2 Sep 2008 | 8:49 am Carriers look to cargo services to increase revenuesTo counter heavy losses, cash-strapped Indian carriers are now looking at increasing cargo operations to augment revenues.Source: IndiaeNews.com: Business News | 2 Sep 2008 | 8:33 am Chennai firm to service Alcatel-Lucent's European clientsThe city-based offshore technology operations management company Cybernet SlashSupport (CSS) has bagged a multi-million dollar support services contract from global communications solutions provider Alcatel-Lucent.Source: IndiaeNews.com: Business News | 2 Sep 2008 | 8:32 am No work at Nano plant, highway closed once againWork at the Tata Motors Nano factory at Singur in West Bengal's Hoogly district remained suspended for the fourth consecutive working day Tuesday.Source: IndiaeNews.com: Business News | 2 Sep 2008 | 8:31 am Buying a green PC not as easy as you may thinkIt's not easy being green - especially when it comes to computers.Source: Daily News & Analysis: Money News | 2 Sep 2008 | 8:29 am Hope for Nano car as farmers agree to talkKOLKATA (Reuters) - Protesters holding up work at an Indian factory building Tata Motors' Nano car agreed to talks over land seizures, a protest leader said on Tuesday, raising hope the world's cheapest car will roll out on time.Source: Reuters: Money News | 2 Sep 2008 | 8:19 am Google's battle with Microsoft heats upGoogle Inc, creator of the world's most popular internet search engine, has developed its own web browser in a challenge to Microsoft Corp's dominant Internet Explorer.Source: Daily News & Analysis: Money News | 2 Sep 2008 | 8:16 am Reliance Life Sciences looks for acquisitionReliance Life Sciences has said it is looking for acquisitions in the clinical research space, but high-valuations are hindering its plans.Source: Daily News & Analysis: Money News | 2 Sep 2008 | 8:16 am Maruti Suzuki to enhance R&D for small carsJapanese auto major Suzuki Motor Corporation has asked its Indian subsidiary -- Maruti Suzuki India -- to enhance its research and development (R&D)Source: Daily News & Analysis: Money News | 2 Sep 2008 | 8:14 am Hidesign CEO Kunal Sachdev quitsKunal R Sachdev, who was instrumental in building the Hidesign leather brand and played a key role in taking it international, has quit as CEOSource: Daily News & Analysis: Money News | 2 Sep 2008 | 8:13 am India loses friend as Bata Shoe Co owner is deadThomas Bata, owner of the family-owned world-famous shoe company, died here on Monday. A great friend of India, Bata was 93.Source: Daily News & Analysis: Money News | 2 Sep 2008 | 8:11 am Indian pharma firm gets US approval for two drugsThe Bangalore-based pharmaceutical firm Strides Arcolab Tuesday said two more of its drugs have been approved by the US Food and Drug Administration.Source: IndiaeNews.com: Business News | 2 Sep 2008 | 7:00 am Talks to bring iPhone to China in final stage: MediaShanghai: China Mobile, the country’s largest handset operator, is in the final stages of talks with Apple to launch the iPhone in China, the world’s largest mobile phone market, state media reported on Tuesday. The two companies are likely to conclude the talks soon, the 21 Century Business Herald reported, citing unnamed sources. A spokesman with China Mobile declined to comment on the report, while officials with Apple were not immediately available for comment. China Mobile said in June the main obstacle keeping the iPhone out of China, which had 608.4 million mobile users at the end of July, had been cleared when Apple dropped its revenue-sharing demands. Apple chief executive Steve Jobs has said he would like to see the device introduced in China later this year. Source: Tech News - Livemint.com | 2 Sep 2008 | 5:37 am Talks to bring iPhone to China in final stage: MediaShanghai: China Mobile, the country’s largest handset operator, is in the final stages of talks with Apple to launch the iPhone in China, the world’s largest mobile phone market, state media reported on Tuesday. The two companies are likely to conclude the talks soon, the 21 Century Business Herald reported, citing unnamed sources. A spokesman with China Mobile declined to comment on the report, while officials with Apple were not immediately available for comment. China Mobile said in June the main obstacle keeping the iPhone out of China, which had 608.4 million mobile users at the end of July, had been cleared when Apple dropped its revenue-sharing demands. Apple chief executive Steve Jobs has said he would like to see the device introduced in China later this year. Source: Tech News - Livemint.com | 2 Sep 2008 | 5:37 am IAF, Airports Authority of India join hands for airspace managementWith more and more planes crowding the Indian skies, the Indian Air Force (IAF) has decided to expand cooperation with the Airports Authority of India (AAI) across the country to facilitate more flexible use of airspace.Source: IndiaeNews.com: Business News | 2 Sep 2008 | 5:31 am Favoured by Mughals, Agra sandstone attracts modern buildersThe smooth red sandstone used in Mughal monuments like Agra Fort, Red Fort and Fatehpur Sikri had lost its popularity at one time with the increasing use of bricks and mortar, but is back in favour now with builders flocking to the stone markets in the city of the Taj.Source: IndiaeNews.com: Business News | 2 Sep 2008 | 5:31 am No work at Nano factory in Singur Tuesday: Tata MotorsWork at the Tata Motors Nano factory in West Bengal's Singur area would remain suspended for another day Tuesday with the company asking employees to stay away, the fourth consecutive day that the plant has been shut.Source: IndiaeNews.com: Business News | 2 Sep 2008 | 5:30 am BEL, BHEL to form joint venture in solar power sectorNew Delhi: Bharat Electronics (BEL) and Bharat Heavy Electricals Limited (BHEL) are in the process of finalising a joint venture to tap the huge potential in the solar energy sector. Both the defence PSUs have in principle agreed to form an equal partnership joint venture to set up a polycrystalline silicon manufacturing unit in Bangalore. Polycrystalline silicon is the raw material for manufacturing solar panels. “Talks with BHEL to set up a polycrystalline silicon manufacturing unit are going on in the right direction,” a BEL official said confirming the negotiations. “Many details about the nature of collaboration, type of the plant, type of investment etc are yet to be finalised,” he added. Even though he refused to divulge details about the cost of the project, he hinted that an investment of over Rs1000 crore would be required for the project. BEL, one of India’s leading solar panel manufacturers, plans to produce 2,500 tons per year of polycrystalline silicon from the plant. The defence PSU has been exporting solar products to countries in Africa and Latin America for the last 4-5 years. The BEL official said that the PSU was looking forward to tapping the potential solar power market in the country. “We think there is a huge potential for solar energy in India and we will be making all efforts to exploit it,” he said. In India, BEL has supplied tens of thousands of solar home lighting systems and few thousands of street lighting systems to various remote and inaccessible parts in Tripura, villages in Sundarban and Nilgiri. The recently released National Action Plan on Climate Change had pushed for extensive use of solar energy in the country. BEL, which was conferred the ‘Navratna’ status last year, has also supplied solar power plants of capacity 5 to 10kws to Chattisgarh and Rajasthan during the last five years. The company has appointed management consulting firm KPMG to suggest a restructuring plan for BEL so that it can expand its operation. The defence PSU has recorded a turnover of Rs4,114 crore for the year 2007-08, as against last year’s turnover of Rs3,952 crore. The company has an order book position of $20 million from foreign countries for the current year. Source: Home - Livemint.com | 2 Sep 2008 | 5:19 am Google takes aim at Microsoft with new Web browserSan Francisco: Google Inc. is releasing its own Web browser in a long-anticipated move aimed at countering the dominance of Microsoft Corp.’s Internet Explorer and ensuring easy access to its market—leading search engine. The California-based company took the unusual step of announcing its latest product on the Labor Day holiday after it prematurely sent out a comic book drawn up to herald the new browser’s arrival. The free browser, called ‘Chrome’, is supposed to be available for downloadingin more than 100 countries for computers running on Microsoft’s Windows operating system. Google said it’s still working on versions compatible with Apple Inc.’s Mac computer and the Linux operating system. Google’s browser is expected to hit the market a week after Microsoft’s unveiling of a test version of its latest browser update, Internet Explorer 8. The tweaks include more tools for Web surfers to cloak their online preferences, creating a shield that could make it more difficult for Google and other marketing networks to figure out which ads are most likely to appeal to which individuals. Although Google is using a cartoonish approach to promote Chrome, the new browser underscores the gravity of Google’s rivalry with Microsoft, whose Internet Explorer is used by about 75% of Web surfers. Google’s lead in the lucrative Internet search market is nearly as commanding, with its engine processing nearly two-thirds of the Web’s queries. For the past few years, Google has been trying to take advantage of its search engine’s popularity to loosen Microsoft’s grip on how most people interact with personal computers. The assault so far has been focused on a bundle of computer programs, including word processing and spreadsheet applications, that Google offers as an alternative to one of Microsoft’s biggest money makers, its Office suite of products. Google has tried to make its alternatives more appealing and accessible by hosting them for free over Internet connections instead of requiring users to pay a licensing fee to install them on individual computers, as Microsoft typically does. Meanwhile, Microsoft has tried to thwart Google by investing billions in the development of its own search engine and making an unsuccessful attempt to buy Yahoo Inc. for $47.5 billion. The tensions between Microsoft and Google now seem likely to escalate with Google’s foray into Web browsing. Until now, Google had been trying to undermine Internet Explorer by supporting Firefox, a Web browser developed by the open-source Mozilla Foundation. Bolstered by an advertising partnership with Google’s search engine, Firefox ranks as the second most popular browser, with a market share of more than 10%. Google recently extended its advertising alliance with Firefox through 2011. Bearing the stamp of Google’s renowned brand, Chrome could be an even more formidable rival to Explorer. Still, Google’s name is no guarantee of success. For instance, Google’s instant messaging service has not come close to catching up to the market-leading products made by Yahoo, Microsoft and Time Warner Inc.’s AOL. In a blog post Monday, Google touted Chrome as a more sophisticated Web browser better suited for displaying the dynamic and interactive content blossoming on the Web as people migrate from television, radio and newspapers. “The Web gets better with more options and innovation,” wrote Sundar Pichai, Google’s vice president of product management. Linus Upson, Google’s engineering director, wrote in the posting: “Google Chrome is another option, and we hope it contributes to making the Web even better.” Microsoft brushed aside the threat posed by Google in a statement from Dean Hachamovitch, Internet Explorer’s general manager. “The browser landscape is highly competitive, but people will choose Internet Explorer 8 for the way it puts the services they want right at their fingertips and, more than any other browsing technology, puts them in control of their personal data online,” Hachamovitch said. Even as it has backed Firefox, Google has openly fretted about the possible ramifications of Microsoft’s huge lead in Web browsing. Google is worried that Microsoft could abuse its power by manipulating Internet Explorer’s default settings in a way that might diminish traffic to Google’s search engine, which serves as the hub of the largest online ad network. In 2006, Google contacted the Justice Department to raise alarms about changes to Internet Explorer that Google believed made it more difficult to install search toolbars made by Microsoft’s rivals. Although regulators decided not to intervene, Microsoft subsequently modified the way Explorer handled the selection of search toolbars. Source: Home - Livemint.com | 2 Sep 2008 | 4:45 am Google takes aim at Microsoft with new Web browserSan Francisco: Google Inc. is releasing its own Web browser in a long-anticipated move aimed at countering the dominance of Microsoft Corp.’s Internet Explorer and ensuring easy access to its market—leading search engine. The California-based company took the unusual step of announcing its latest product on the Labor Day holiday after it prematurely sent out a comic book drawn up to herald the new browser’s arrival. The free browser, called ‘Chrome’, is supposed to be available for downloadingin more than 100 countries for computers running on Microsoft’s Windows operating system. Google said it’s still working on versions compatible with Apple Inc.’s Mac computer and the Linux operating system. Google’s browser is expected to hit the market a week after Microsoft’s unveiling of a test version of its latest browser update, Internet Explorer 8. The tweaks include more tools for Web surfers to cloak their online preferences, creating a shield that could make it more difficult for Google and other marketing networks to figure out which ads are most likely to appeal to which individuals. Although Google is using a cartoonish approach to promote Chrome, the new browser underscores the gravity of Google’s rivalry with Microsoft, whose Internet Explorer is used by about 75% of Web surfers. Google’s lead in the lucrative Internet search market is nearly as commanding, with its engine processing nearly two-thirds of the Web’s queries. For the past few years, Google has been trying to take advantage of its search engine’s popularity to loosen Microsoft’s grip on how most people interact with personal computers. The assault so far has been focused on a bundle of computer programs, including word processing and spreadsheet applications, that Google offers as an alternative to one of Microsoft’s biggest money makers, its Office suite of products. Google has tried to make its alternatives more appealing and accessible by hosting them for free over Internet connections instead of requiring users to pay a licensing fee to install them on individual computers, as Microsoft typically does. Meanwhile, Microsoft has tried to thwart Google by investing billions in the development of its own search engine and making an unsuccessful attempt to buy Yahoo Inc. for $47.5 billion. The tensions between Microsoft and Google now seem likely to escalate with Google’s foray into Web browsing. Until now, Google had been trying to undermine Internet Explorer by supporting Firefox, a Web browser developed by the open-source Mozilla Foundation. Bolstered by an advertising partnership with Google’s search engine, Firefox ranks as the second most popular browser, with a market share of more than 10%. Google recently extended its advertising alliance with Firefox through 2011. Bearing the stamp of Google’s renowned brand, Chrome could be an even more formidable rival to Explorer. Still, Google’s name is no guarantee of success. For instance, Google’s instant messaging service has not come close to catching up to the market-leading products made by Yahoo, Microsoft and Time Warner Inc.’s AOL. In a blog post Monday, Google touted Chrome as a more sophisticated Web browser better suited for displaying the dynamic and interactive content blossoming on the Web as people migrate from television, radio and newspapers. “The Web gets better with more options and innovation,” wrote Sundar Pichai, Google’s vice president of product management. Linus Upson, Google’s engineering director, wrote in the posting: “Google Chrome is another option, and we hope it contributes to making the Web even better.” Microsoft brushed aside the threat posed by Google in a statement from Dean Hachamovitch, Internet Explorer’s general manager. “The browser landscape is highly competitive, but people will choose Internet Explorer 8 for the way it puts the services they want right at their fingertips and, more than any other browsing technology, puts them in control of their personal data online,” Hachamovitch said. Even as it has backed Firefox, Google has openly fretted about the possible ramifications of Microsoft’s huge lead in Web browsing. Google is worried that Microsoft could abuse its power by manipulating Internet Explorer’s default settings in a way that might diminish traffic to Google’s search engine, which serves as the hub of the largest online ad network. In 2006, Google contacted the Justice Department to raise alarms about changes to Internet Explorer that Google believed made it more difficult to install search toolbars made by Microsoft’s rivals. Although regulators decided not to intervene, Microsoft subsequently modified the way Explorer handled the selection of search toolbars. Source: Tech News - Livemint.com | 2 Sep 2008 | 4:45 am India Tata Comm to pay damages to RCom unitNew Delhi: An international tribunal has directed Indian telecoms firm Tata Communications to pay $19 million plus interest in damages to a unit of rival Reliance Communications, the companies said on Monday. Reliance Globalcom, the international unit of India’s No. 2 mobile operator, said in a statement the International Chambers of Commerce (ICC) had found in its favour over the issue of access to bandwidth through Tata’s Mumbai landing station. Reliance, which first took the case to the ICC in December 2004, said it would receive $19.3 billion plus interest since May 17, 2006. Reliance Globalcom said it had upgraded capacity to 80 GB on its Mumbai-London route and would also be enhancing the cable capacity on the Mumbai-Hong Kong route to 80 GB, said the additional capacity had created a revenue opportunity of $120 million to $180 million. Tata Communications said in a statement the tribunal had handed down a final award dealing with the issue of damages, and said the figure compared with $385 million claimed by Reliance. Source: Tech News - Livemint.com | 2 Sep 2008 | 4:36 am Oil near $111 as Gustav relents, dollar firmHong Kong: Oil extended losses toward $111 on Tuesday after Hurricane Gustav eased before slamming into the US Gulf Coast, pushing up the US dollar to a 7-month high against the euro and causing a broad selloff of commodities. The South Korean won recovered after a steep decline on Monday, supported by the government which said in a hastily arranged meeting it had the will and ability to stop the currency from weakening. However, stocks slipped further on fears about a flight of capital from Asia’s fourth-largest economy. Economic deterioration and public unrest in the region continued to take a toll on its political establishment. Japan’s unpopular prime minister resigned late on Monday , which had a limited impact on the equity and bond markets, and a state of emergency was declared in Bangkok, which weighed on the baht. Crude’s retreat, on top of a steep $4 fall on Monday, weighed on US corn and soy prices, which fell 3% after a US holiday on Monday. The euro was down a modest 0.1% at $1.4583 after earlier dipping to around $1.4555, the lowest since February 14. The British pound was down 0.5% at $1.7921 extending losses after an 8.6% plunge in August. Japan’s Nikkei share average rose 0.45%, as lower oil prices encouraged investors to buy beaten down shares of companies in the technology sector after a sharp selloff on Monday. Investors were grappling with the implications of Fukuda’s resignation, which made him the second Japanese leader to resign in less than a year and threatened policy vacuum as the economy hangs on the brink of recession. South Korea’s KOSPI was down 0.1% after earlier slipping to its lowest since March 2007. The country’s worsening balance of payments has made investors nervous that nearly $7billion of government bonds held by foreign investors maturing next week will not be rolled over. The MSCI index of Asia-Pacific equities outside of Japan edged up 0.2% after earlier touching the lowest since March 2007. The index has fallen 28% so far this year. Investors took refuge in the US dollar, shying away from slowing economic growth in Southeast Asia and in particular political uncertainty surrounding Thailand. The dollar rose 0.4% against the Thai baht to 34.42 after Thailand’s prime minister declared a state of emergency in Bangkok and gave the army control to quell long-running protests. Source: Home - Livemint.com | 2 Sep 2008 | 4:08 am Tata honoured for contribution to Indo-British partnershipLondon: Ratan Tata, Chairman of one of India’s largest business conglomerates, the Tata Group, has been awarded by the UK India Business Council for his significant contribution to Indo-British business partnership. S Anwar Hasan, Managing Director of Tata Limited, received the award on behalf of Tata from British High Commissioner to India, Sir Richard Stagg, at a Gala Dinner organised to celebrate the first anniversary of the UK India Business Council on Monday night. Sir Stagg lauded Ratan Tata’s contribution to the UK economy by employing 50,000 people since he acquired the Corus Group, an Anglo-Dutch steel and aluminium producer and the Jaguar and Land Rover from Ford Motor company. The dinner attended by prominent entrepreneurs including Hinduja Group President, G P Hinduja and Kingfisher owner Vijay Mallya, was hosted by the Lord Mayor Alderman David Lewis, who said he would raise 3.5 million pounds to support the cause of blindness prevention in India. Ratan Tata was awarded the Padma Vibhushan, the second highest civilian decoration in India in January this year. Recipient of a honorary doctorate from the London School of Economics, Ratan Tata was listed among the 25 most powerful people in business named by Fortune magazine in November 2007. In May this year Tata made it to the Time magazine’s 2008 list of the World’s 100 most influential people. On August 29, this year, Singapore Government conferred its honorary citizenship on Ratan Tata in recognition of his abiding business relationship with the island nation and his contribution to the growth of high-tech sectors in Singapore. Source: Home - Livemint.com | 2 Sep 2008 | 4:05 am Indian rupee opens weaker on trade deficit worriesMumbai: The Indian rupee opened weaker today, taking the appointment of a new Reserve Bank of India’s (RBI) chief in its stride, as it focused on concerns about a widening trade deficit. The partially convertible rupee was trading at 44.22/23 per dollar, compared with yesterday’s close of 44.17/18. Bond yields fell as they drew comfort from a slide in oil prices. The 10—year bond yield was at 8.58%, compared with Monday’s close of 8.62%. The government on Monday named Duvvuri Subbarao as RBI’s chief to succeed Yaga Venugopal Reddy, whose five-year term ends this week. Source: Home - Livemint.com | 2 Sep 2008 | 3:50 am Isha Ambani No 2 on Forbes list of world’s billionaire heiressesNew Delhi: The Forbes list of The World’s Billionaire Heiresses (To Be) has ranked Isha Ambani, daughter of Mukesh and Nita Ambani as number two on the list. She is the youngest of the top ten females ranked by Forbes.  The survey looked at the daughters of 150 of the world’s richest people, all of whom had a net worth of $6.4 billion or more in March. It also focused on those daughters who come from smaller families, with few or no siblings before eliminating anyone whose mothers or fathers had already announced Carnegie-esqe philanthropic pledges. The result is a hypothetical list subject to change. Parents could lose their fortune. Plus, as Leona Helmsley’s dismayed relatives discovered last year, Mom or Grandma might just leave it to the dogs. We did not include women who have already inherited their money, such as the world’s richest woman, Liliane Bettencourt, or China’s richest, Yang Huiyan, who at 26 is also one of the world’s youngest billionaires. Vanisha Mittal Bhatia leads the pack No. 1 on the Forbes list is Vanisha Mittal Bhatia, daughter of Lakshmi Mittal, the fourth-richest person in the world as of March. Perhaps best known for the $60 million wedding her father threw for her in 2004, she now serves as a director on the board of her father’s $103 billion (market cap) steel company, ArcelorMittal. Her corporate involvement and small family--she has only one brother--puts her in good stead to inherit a sizeable chunk of her father’s fortune. The only daughter of Mukesh Ambani, ranked fifth in the world of billionaires, Isha Ambani is just a teenager but already has her own stake in the family’s Reliance Industries, worth about $80 million. Also making the cut are several heiresses who already play an active role in the family empire, a fact that appears to bode well for their chances of inheriting the business as well as a piece of the estate. Leading that group is Delphine Arnault-Gancia, the daughter of Bernard Arnault, the world’s 13th-richest man, who heads $50 billion (market cap) luxury goods behemoth LVMH. Delphine who sits on LVMH’s board was named managing director of couture house Christian Dior (other-otc: CHDRF.PK - news - people ) in April, adding to her roles at sister brands Pucci and Loewe and positioning her as her father’s likely successor. Future probables Another one poised to inherit and lead is Marta Ortega Perez, daughter of Spanish retailer Amancio Ortega. She could choose live a life of idle pleasures off her presumed cut of his $20.2 billion fortune, but instead she’s being groomed to succeed him at the helm of fashion conglomerate Inditex. Some of the heiresses on our list aren’t waiting for their windfalls to pursue their passions. Anastasia Potanina, whose father, Vladimir Potanin, has amassed a $19.3 billion fortune in publishing, banking and mining, is a former Russian champion in the extreme sport of Aquabiking (or Jet-Ski as it’s known in the U.S.). Former wild-child heiress Samantha Kluge, daughter of media mogul John Kluge, has tapped into her entrepreneurial gene and is now running a jewelry and accessories design firm in Los Angeles. Missing from these rankings are far more visible socialites like Paris Hilton or Amanda Hearst, whose relations to billionaires are more distant, and whose chance of inheriting the family fortune not as great. Even Paris’ nightclub-appearance fees wouldn’t bring her close to the ranks of these 10 women. Source: Home - Livemint.com | 2 Sep 2008 | 3:31 am Mock trading in currency futures to commence todayPTI Mumbai: MCX Stock Exchange (MCX-SE) will begin mock trading in currency futures from today. Within three days of its launch, MCX-SE has received an expression of interest from over 300 members, including banks, commodity brokers, exporters, importers, stock-brokers and forex dealers, according to an exchange release issued Sunday. The clearing banks have been appointed and more than 12 banks have expressed their willingness to participate in trading on the exchange. MCX-SE is a subsidiary of the Multi Commodity Exchange of India (MCX). It received an in-principle approval from market regulator SEBI for the launch of the currency derivative segment on 25August. MCX-SE is offering membership as Trading Member (TM), Trading-cum-Clearing member (TCM) and Professional Clearing Member (PCM). Commenting on the development, MCX managing director and CEO Joseph Massey, said “the new exchange created by MCX to start the currency future trading will leapfrog Indian markets to the new orbit by enabling its users to set price risk and currency risk service from the same eco-system.” “With MCX foray in the currency derivatives space, it aims to lend its expertise of running a successful exchange to its new venture - MCX-SE,” Massey added. Source: Home - Livemint.com | 2 Sep 2008 | 3:00 am LIC celebrates insurance week from 1-7 SeptBy PTI Hyderabad: To commemorate the 52nd anniversary of the Life Insurance Corporation (LIC), week-long celebrations are being held from September 1-7, LIC’s zonal manager D D Singh said. LIC’s business in force (Provisional) includes 23.39 crore policies under individual assurance and 5.10 crore lives under group insurance as on 31March, 2008. LIC is the largest life insurance company on the basis of number of policies and number of claims settled, with total Life Fund of Rs6,86,616 crore and total assets of Rs8,03,820 crore, making it India’s largest financial institution. At South Central Zone, “we have provided insurance cover to 61.78 lakh people with first premium income of Rs5,813.65 crore under individual new business, 90.62 lakh lives with Premium Income of Rs1,466.33 crore under Pension & Group Schemes during 1April, 2007 to 31March, 2008, he said. LIC provides different channels for premium collection through internet, ECS, ATMs, SMS and also through authorized collection centres like AP online and Suvidha outlets, he said. With a view to help customers interact easily from the place of their convenience, the insurance company has set up information centres in 12 cities including Hyderabad, he added. To provide easy access to its policy holders, they have also opened over 400 satellite offices across the country, with 108 in Andhra Pradesh and Karnataka. Source: Home - Livemint.com | 2 Sep 2008 | 2:47 am Attrition rate in BPOs highest in the country at 23.5%: ReportNew Delhi, Sept. 1 The attrition in the Business Process Outsourcing (BPO) industry is roughly 7.8 percentage points higher than other sectors, a report by global management consulting firm Hay Group said on ...Source: Business Line - Home Page | 2 Sep 2008 | 12:00 am Tatas asked to pay $19 m to RComCourt awards damages for denial of access to landing station in Mumbai. Mumbai, Sept. 1 Tata Communications has been directed to pay $19.29 million (Rs 84.87 crore) plus interest from May 2006 as damages to Reliance Communications, in the ...Source: Business Line - Home Page | 2 Sep 2008 | 12:00 am Penalty fails to curb power overdrawalSEBs find liquid fuel power costlier; capacities lie idle despite shortages. New Delhi, Sept 1 Amid a surge in short-term power costs triggered by acute shortages, State Electricity Boards (SEBs) are increasingly opting to overdraw from the ...Source: Business Line - Home Page | 2 Sep 2008 | 12:00 am Singur: Mamata says open to talks, but agitation will continueKolkata, Sept. 1 The West Bengal Chief Minister, Mr Buddhadeb Bhattacharjee, has welcomed the State Governor, Mr Gopal Krishna Gandhi’s initiative to resolve the imbroglio over land acquisition in Singur for the Tata small car project. ...Source: Business Line - Home Page | 2 Sep 2008 | 12:00 am Day Trading GuideFresh long-position can be initiated if the stock surpasses Rs 780, with tight stop-loss. ...Source: Business Line - Home Page | 2 Sep 2008 | 12:00 am IT vendors feel the heat as US election nearsSee dip in new customer wins; Nasscom forecasts 4% lower exports. Bangalore, Sept. 1 Indian IT vendors may see a decline in new client additions in the US, their largest market, ahead of the presidential elections, as potential customers ...Source: Business Line - Home Page | 2 Sep 2008 | 12:00 am More talktime on pre-paid top-ups from Sept 15TRAI initiates a slew of customer-friendly measures. New Delhi, Sept. 1 Starting September 15, pre-paid mobile subscribers in the country will not have to pay any processing fee for the recharge vouchers they buy; they will get talk time worth ...Source: Business Line - Home Page | 2 Sep 2008 | 12:00 am Exports stay bullish with 31% growth in JulyImports grow 48%; trade deficit at record $41 b in April-July. Buoyed by the depreciation of the rupee vis-À-vis the US dollar, India’s exports continue to be bullish with the latest monthly exports of July logging a 31.2 per cent ...Source: Business Line - Home Page | 2 Sep 2008 | 12:00 am Subbarao to head RBIAppointed Governor for three years. New Delhi, Sept. 1 The Finance Secretary, Dr Duvvuri Subbarao, will be the next Reserve Bank of India Governor, replacing Dr Y.V. Reddy, who demits office on September 5, the Union Finance Minister, Mr P ...Source: Business Line - Home Page | 2 Sep 2008 | 12:00 am Mundra Port and SEZ: BuyWe recommend a ‘buy’ in Mundra Port and Special Economic Zone (SEZ) from a short-term perspective. It is apparent from the charts that the company has been on a medium-term uptrend from early July low of Rs 388, that was also a ...Source: Business Line - Home Page | 2 Sep 2008 | 12:00 am Nirula's dishing out Rs 200 crore spreadNirula's, one of the country's oldest restaurant chains with over 60 outlets across North India, is entering a Rs 200 crore expansion gambit.Source: Daily News & Analysis: Money News | 1 Sep 2008 | 11:12 pm Union Bank rejigs brand identityBank of Baroda has done it two years back. Canara Bank did it last year. And now Union Bank of India has also gone ahead and effected a brand repositioning.Source: Daily News & Analysis: Money News | 1 Sep 2008 | 11:11 pm 'Firms sans personality = inhuman blobs'In the past, a faceless corporation worked because big also meant being credible.Source: Daily News & Analysis: Money News | 1 Sep 2008 | 11:10 pm IPL champs pitch for pvt placement, IPOPromoters of Rajasthan Royals look to spin off team's success for better valuations.Source: Business Standard | Front Page Headlines | 1 Sep 2008 | 6:57 pm Mediator for Singur acceptable: BuddhadebStronger indications of a solution to the land acquisition impasse at the Tata Motors factory complex in Singur emerged today after Chief Minister Buddhadeb Bhattacharjee said at WritersSource: Business Standard | Front Page Headlines | 1 Sep 2008 | 6:56 pm D Subbarao is new RBI chiefFinance Secretary Duvvuri Subbarao, 59, an Indian Administrative Service (IAS) officer of the Andhra Pradesh cadre who topped the 1972 batch, will be the new governor of the Reserve Bank of IndiaSource: Business Standard | Front Page Headlines | 1 Sep 2008 | 6:55 pm Equity markets start in the redIndian equity markets, which opened lower Monday following weak global cues, were in the red in early trade. Banking, auto and pharma stocks were under selling pressure.Source: IndiaeNews.com: Business News | 1 Sep 2008 | 11:32 am Suzlon Energy to increase stake in German firmSuzlon Energy Monday said it has signed an agreement with Martifer SGPS of Portugal for an early acquisition of Martifer's 22.48 percent stake in German turbine manufacturer REpower Systems.Source: IndiaeNews.com: Business News | 1 Sep 2008 | 11:30 am IOL Netcom to provide CDMA mobile servicesInternet services provider IOL Netcom Monday said it has signed an agreement with the telecom operator Mahanagar Telephone Nigam Ltd (MTNL) to provide CDMA mobile services.Source: IndiaeNews.com: Business News | 1 Sep 2008 | 11:30 am
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