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Air India to operate additional flights on Aug 18National carrier Air India today said it plans to operate additional flights on August 18 to avoid possible inconvenience to passengers in case private airline operators go ahead with their strike call.Source: Hindustan Times News Feeds 'Business' | 2 Aug 2009 | 7:44 am Despite strike call, pvt airlines continue bookings for Aug 18Under attack from the government, the agitating private airlines who are demanding a bailout package, have kept bookings open for customers who want to fly on Aug 18, the day they have threatened to go on strike.Source: Hindustan Times News Feeds 'Business' | 2 Aug 2009 | 7:42 am Honda recalls 440,000 US vehiclesJapanese automaker Honda Motor Co has recalled 440,000 vehicles in the United States due to a defect in the airbag that killed one person and injured six others.Source: Hindustan Times News Feeds 'Business' | 2 Aug 2009 | 7:29 am Reliance Infra's order book to cross Rs 50,000-cr markReliance Infrastructure Ltd's order book position is set to cross Rs 50,000-crore mark, a top company official said.Source: Hindustan Times News Feeds 'Business' | 2 Aug 2009 | 6:31 am JLR to launch `several` models; to drive out hybrids!Undeterred by losses of over Rs 1,700 crore, Tatas-owned Jaguar Land Rover will launch a number of new models, including hybrids, in the coming years.Source: Zee News : Business | 2 Aug 2009 | 6:20 am World trade system starting to work again: Lamy!A $250 billion financial package to revive a global trading system crippled by the credit crisis is starting to bear fruit, especially in Asia, the head of the World Trade Organisation (WTO) said on Saturday.Source: Zee News : Business | 2 Aug 2009 | 6:20 am Tata Motors to deliver 60,000 Nano by July 2010!Country`s largest auto maker Tata Motors will deliver up to 60,000 units of the Nano, which is touted as the world`s cheapest car, by July 2010.Source: Zee News : Business | 2 Aug 2009 | 6:20 am Govt may acquire RBI`s stake in Nabard, NHB by Dec!The government is likely to pick up Reserve Bank`s stake in the National Bank of Agriculture and Rural Development and National Housing Bank by December this year.Source: Zee News : Business | 2 Aug 2009 | 6:20 am Real estate looking up, people start buying once againThe booming real estate market that received a jolt during the slowdown last October-November seems to be recovering. People are slowly purchasing, but only for personal use. Not for investment purposes.Source: Hindustan Times News Feeds 'Business' | 2 Aug 2009 | 6:13 am Liberal air traffic policy "marginalising" Indian carriersThe government's liberal aviation policy granting foreign carriers to operate out of the country in lucrative routes have "marginalised" Indian airlines, both public and private, say Air India unions. Source: Hindustan Times News Feeds 'Business' | 2 Aug 2009 | 5:59 am ICICI Prudential's premium collection dips 50 pc in Q1One of the leading private sector life insurer ICICI Prudential witnessed 50 per cent decline in collection of fresh premium, an indication of the company's performance, during the first quarter of the current fiscal.Source: Hindustan Times News Feeds 'Business' | 2 Aug 2009 | 5:57 am Sharad Pawar seeks withdrawl of incentives to oilmeals exportsAhead of the foreign trade policy, Agriculture Minister Sharad Pawar has sought withdrawal of incentives on exports of oilmeals like soyabean meal in the backdrop of rising cost of poultry feed, a Commerce Ministry official said.Source: Hindustan Times News Feeds 'Business' | 2 Aug 2009 | 5:51 am Law on anvil to tax cos routing investments through tax havensThe government is mulling new laws to bring into the tax net domestic companies, which deliberately route their overseas investments through tax havens to avoid paying taxes at home.Source: Hindustan Times News Feeds 'Business' | 2 Aug 2009 | 5:47 am FIIs to keep mkt buoyant; rally on bourses likely: AnalystsContinuing the bull run, Dalal Street is likely to touch fresh highs this week, primarily fueled by higher funds flow from Foreign Institutional Investors amid positive global cues, believe analysts.Source: Hindustan Times News Feeds 'Business' | 2 Aug 2009 | 5:25 am Mamata’s new Tatkal scheme earns Rs600 crNew Delhi: Indian Railways have earned over Rs600 crore during the last fiscal from tatkal tickets, with Northern Railways topping other zones with the best earning from this scheme. Of the Railways’ total earning of Rs605.48 crore, the Northern Railway shared Rs144.50 crore, which was 13% of the total tickets sold, official sources said. They said earnings this fiscal is expected to cross the figures of the last financial year, expecting a good response from the revised tatkal scheme, which came into effect from 1 August, with more relaxations. “Boarding at intermediate stations, which hitherto was non-existent, will further boost income from this scheme,” a source said. Tickets worth Rs221.59 crore have already been sold under the scheme in the first quarter of this financial year, the source said. As per the revised scheme, the advanced reservation period has also been reduced to two days from five days a week. The source also said the Railways have registered a Rs1,000 crore cumulative income from this scheme in the last three years. Source: LatestNews-Home - Livemint.com | 2 Aug 2009 | 3:45 am Air India to increase number of flights on Aug 18 - Times of India
Source: Business - Google News | 2 Aug 2009 | 3:38 am Air India to increase number of flights Aug 18State-run national carrier Air India will push more flights into service Aug 18 following threats from private airlines that they would suspend operations the same day if airport charges and fuel taxes were not slashed.Source: IndiaeNews.com: Business News | 2 Aug 2009 | 3:32 am Another Taj project runs into troubleYet another mega project in the name of promoting tourism around the Taj Mahal has run into trouble with the Archaeological Survey of India (ASI) opposing a plan for a ropeway behind the world famous monument.Source: IndiaeNews.com: Business News | 2 Aug 2009 | 3:30 am Left asks Govt to take over marketing & distribution of RIL gasLeft MPs demanded that government should take over the marketing and distribution to ensure that national asset is not surreptitiously appropriated as "family property".Source: Daily News & Analysis: Money News | 2 Aug 2009 | 3:29 am Air India to increase number of flights on Aug 18Air India will push more flights into service on Aug 18 following threats from private airlines that they would suspend operations on the day.Source: India Business News | Business News - Times of India | 2 Aug 2009 | 3:27 am Ambani gas tangle: Govt to file fresh plea in SC this week - Business Standard
Source: Business - Google News | 2 Aug 2009 | 3:26 am Head & Shoulders, Parachute as top brands: surveyMumbai: Proctor & Gamble’s Head & Shoulders emerged at the top in a survey conducted to identify the brand that satisfies the consumer on two grounds- health and happiness. The survey was commissioned by Complete Wellbeing magazine and was conducted by research company Synovate. For the survey, respondents were asked to vote for brands they perceived represented only health, only happiness and finally, both health and happiness, a press release issued here said. Parachute from the Marico stable bagged maximum votes for its association with health while Wills Lifestyle from the ITC group received highest votes for happiness, the release said. The Complete Wellbeing Health and Happiness Brand Survey 2009 engaged respondents in the SEC A category from Delhi, Mumbai and Bengaluru- the three cities that best represent India’s lifestyle choices, the release said. Last year, cricket maestro Sachin Tendulkar was the top choice in a similar survey conducted by the magazine to identify India’s role models of health and happiness. Together in the three categories, as many as 88 brands feature in the first 10 ranks, 27 in the health only category, 15 in happiness only category and 46 in the health and happiness category. Brands such as Maggi, Lakme, Sundrop, Dettol and Tata Salt figured on top of the health-and-happiness list. Besides Parachute, Tiger Balm, Crocin, Dabur, Lifebuoy and Saridon are at the top of the health list. For happiness, Philips, Onida, Sony, HP-Compaq, IBM-Lenovo and Samsung find favour among consumers, the release said. A comprehensive coverage of the survey is published in the August 2009 issue of Complete Wellbeing magazine. Source: Home - Livemint.com | 2 Aug 2009 | 3:04 am Protectionism hurting India's trade with EU: FicciIndia Inc. is opposed to protectionism practised by the European Union (EU) by way of agriculture subsidies and non-tariff barriers on services exports and faces adverse conditions in the European market, especially the pharma and IT sectors, a survey by an industry body has revealed.Source: IndiaeNews.com: Business News | 2 Aug 2009 | 3:00 am Real estate looking up, people start buying once againThe booming real estate market that received a jolt during the slowdown last October-November seems to be recovering. People are slowly purchasing, but only for personal use. Not for investment purposes.Source: IndiaeNews.com: Business News | 2 Aug 2009 | 2:01 am ASI shoots down ropeway project behind TajThe Archaeological Survey of India (ASI) has opposed a plan for a ropeway behind the Taj Mahal, drawn up by the Agra Development Authority apparently without seeking clearance from the ASI or the Supreme Court, which has laid out clear-cut guidelines for preserving the surroundings of the heritage monument.Source: IndiaeNews.com: Business News | 2 Aug 2009 | 2:00 am Govt’s aviation policy marginalising Indian carriers: UnionsNew Delhi: The government’s liberal aviation policy granting foreign carriers to operate out of the country in lucrative routes have “marginalised” Indian airlines, both public and private, say Air India unions. The unions want the government to give out the bilateral air traffic rights only when Indian carriers have inducted new and adequate number of aircraft matching the capacity and strength of the foreign airlines. The Civil Aviation Joint Action Forum, an umbrella body of several Air India unions including those representing pilots and cabin crew, claims that foreign carriers have taken advantage of the liberalised air traffic rights whereas carriers like Air India and Jet Airways have suffered as they do not have enough capacity or aircraft to fly to cities in these countries. It says AI is operating seven flights a week while British Airways has 21. Similarly, Lufthansa has 32 flights to India with seven entry points, while AI has four services to Germany with single entry point. The CAJAF says the new bilaterals with several governments, including the US, UK and European Union, have led to an “absolute increase” of 10,36,330 seats between December 2003 and June 2008. And the weekly seat capacity into India in the last four years have grown by a whopping 356 per cent, with foreign airlines making the most of it. The unions’ body says Gulf carriers like Air Arabia and Etihad were given “huge” capacity from several points in India in the last one year. Since last May, Cathay Pacific has increased its weekly flights between Hong Kong and Mumbai from four to ten, to Delhi from seven to 14 as new points of call were granted to it and its subsidiary Dragon Air at Chennai and Bangalore. “Now this high yield route is unprofitable for Air India and Jet Airways”, the CAJAF said, adding that while Air India could not mount additional capacity, Jet postponed launching its Delhi-Hong Kong operations. The combined flights of Indian carriers was “only a fraction” of what was being deployed by the foreign airlines, it claimed. When competitors increase capacity and the home airlines do not, then the latter’s capacity share and market share declines, leading to a drop in revenue load factors and the home airlines incurring losses. In a bid to compensate for this decline, “prices are always slashed”, CAJAF said. This was a major reason for the losses of Indian carriers and decline in their share of the outbound home market which fell from 38 per cent in 2004 to only 18% in May 2008. Whereas the world over, the average international airlines enjoyed a domestic outbound market share of 45 to 50%. “This is precisely what happened to Air India in 2007, 2008 and 2009,” the presentation said. Source: Home - Livemint.com | 2 Aug 2009 | 1:58 am Tata Motors to deliver 60,000 Nano by July 2010New Delhi: Country’s largest auto maker Tata Motors will deliver up to 60,000 units of the Nano, which is touted as the world’s cheapest car, by July next year while remaining committed to handing over the first one lakh cars by 2010 once its mother plant in Sanand goes on stream. Tata Motors chairman Ratan Tata said in the company’s Annual Report for 2008-09 that 95% construction work at the Singur plant was completed before the project was “thwarted” by Trinamool Congress last year, forcing the company to relocate it to Gujarat. He said the new plant in Sanand is likely to be ready by the end of this financial year. It would have an initial production capacity of 2.5 lakh units per annum. “In the meantime, the Nano is being produced in other plant facilities so as to enable around 50,000-60,000 cars to be available to customers over the next 12 months until the main new facility in Gujarat comes on line,” Tata told shareholders in the report. The company is currently manufacturing the car at its Pantnagar facility, which has an annual capacity of 50,000 units. Meanwhile, a Tata Motors spokesperson said, “Once the upcoming Sanand facility comes on line after completion of the last quarter of this financial year, it will supplement Pantnagar, completing the first 1,00,000 deliveries in October-December 2010.” Referring to the violent agitation in Singur led by Trinamool Congress chief Mamata Banerjee on land acquisition issues, Tata said relocation of the Nano facility to another state was the only option left. “The company’s plans of spearheading industrial investment in West Bengal by locating the manufacturing plant for the Nano in the state was thwarted by a local political party, citing injustice done to the residents of the area by the state government in the acquisition of land for the project,” he said. Praising the Gujarat chief minister Narendra Modi for “an impressive display of leadership and pragmatism”, Tata said all necessary approvals were received within just three days. “The equipment from the plant in West Bengal, which was 95% complete, was dismantled and is being transported to Gujarat,” he added. Conceived in 2003, the Nano project has cost over Rs2,000 crore to the company. Tata Motors launched the car on 23 March this year and delivered it to the first customer last month. Source: Home - Livemint.com | 2 Aug 2009 | 1:21 am $70 bn drugs to go off-patent, benefiting India: reportNew Delhi: The Indian drug industry would make huge gains as over $70 billion worth of drugs are expected to go off patent in the US, the world’s largest pharma market, in the next three years, according to a report. In the past five years, drugs worth around $50 billion went off-patent in the US, which, along with a doubling of generic alternatives in the market, has led to a rise in the generic share by volume to 68%, said a report by Noble, the UK investment bank. “The Indian generic industry is well positioned to benefit from the structural and macro-economic changes affecting the healthcare industry globally...,” the report on the Indian generic industry said. Indian pharma companies have earned the reputation of being the most competitive generic firms globally with a large FDA approved product pipeline, coupled with a strong research and development foundation. Indian companies have filed more than 900 abbreviated new drug applications (ANDA) which is the first stage approval for launching the drugs with US health regulator in 2008 alone and has got around 300 approvals in the last year. According to industry experts, Indian firms account for the largest number of FDA approvals gained in 2008 and the number is set to rise in future also as there is huge backlog of pending approvals. The Indian industry is benefiting from the drying pipeline of future products of innovating companies as the US regulator has shown its reluctance in granting approvals to new patented medicines, the report said. In 2008, only 21 new molecules and four new biologics medicines were approved by US health regulator, Food and Drug Administration (FDA) - an improvement over 2007, which saw only 14 new molecules and two biologicals were approved for marketing by the regulator. The report said US FDA is adopting a “safety first approach after several drug safety scandals” that have caused a shift in public opinion against the pharma industry and resulted in increasing political pressure on regulators. Source: Home - Livemint.com | 2 Aug 2009 | 1:08 am Dell India gets notice for over-pricing productsComputer major Dell India has been issued notice by a district consumer court here for allegedly over-pricing products and supplying a faulty laptop to a customer.Source: IndiaeNews.com: Business News | 2 Aug 2009 | 1:00 am Promoting Brand India in IndonesiaOver 50 Indian companies will participate in the first major Indian trade fair in Indonesia, whose economy is growing at a fast clip, to promote Brand India.Source: IndiaeNews.com: Business News | 2 Aug 2009 | 1:00 am LIC employees to observe walk-out strike on 4 AugMumbai: LIC employees plan to observe a two-hour walk-out strike on 4 August to protest against the LIC (Amendment) Bill, 2009, introduced by the finance minister in the Lok Sabha on Friday, a senior office-bearer of an employees association said. “We are observing a two-hour nation-wide walk-out strike on 4 August, opposing the LIC Amendment Bill introduced in the Lok Sabha. Around 70,000 employees from 2,048 centres will go strike,” All India Insurance Employees’ Association general secretary K Venu Gopal said. The Bill says that the minimum capital of LIC would be increased from the present Rs5 crore to Rs100 crore. “There is no need for this as the Corporation has been doing its expansion from its internal resources for the last 56-years without Government support,” Gopal said. According to IRDA, insurance companies registered after 1999 are expected to have a capital base of Rs100 crore but since LIC was registered in 1956, it does not require to increase its paid-up capital to Rs100-crore, he said. He further alleged that increase in the paid-up capital to Rs100 crore could be a precursor to disinvestment as Rs5 crore is a very small amount for disinvestment. “Today, LIC has Rs1,17,000-crore excess assets over liabilities and so it does not require any additional capital,“ Gopal said. “The intention of the government is very clear - to privatise the most succesful financial institution,” he alleged. The Bill seeks to provide government guarantee on policies selectively from time-to-time. “LIC is capable of meeting all its claims. During natural calamities like the Gujarat earthquake and the tsunami too, it has never taken help from the Government for claim settlement. The Government guarantee was never a burden on the Government,” Gopal said. If sovereign guarantee was withdrawn, the confidence of 26-crore (LIC) policy holders would be affected, he said. The Bill also states changing the pattern of valuation surplus distribution. “Presently, LIC every year pays 95% of the surplus to policy-holders and 5% to the Government. The Bill seeks to change this pattern to 90% for policy-holders and 10% to the Government,” Gopal said. “We object reduction in surplus distribution to policy holders,” he said. Source: Home - Livemint.com | 2 Aug 2009 | 12:48 am Steel Authority of India July sales up 25 pct y/yMUMBAI (Reuters) - State-run Steel Authority of India Ltd's said on Sunday its steel production in July was 1.08 million tonnes, up 14 percent from a year earlier.Source: Reuters: Money News | 2 Aug 2009 | 12:42 am Tatas close to signing aid deal for JLR with UKLondon: After an year-long negotiations, India’s Tata Motors edged closer to signing a financial aid package with the British government for its struggling UK subsidiary Jaguar Land Rover, a media report on Sunday said. The agreement could now be reached as early as this week, The Observer claimed. Tata wants the government to underwrite a £170 million commercial loan to secure the short-term survival of Jaguar Land Rover but baulked at the conditions the government originally set. Executives from Tata and Jaguar Land Rover met officials from Lord Peter Mandelson’s business department on Friday to discuss the agreement. Tata’s advisors are still going through each clause but no substantive areas of disagreement remain, the report said. The British government had originally demanded representation on the board of Jaguar Land Rover and a veto on redundancies in return for loan guarantees. These conditions are now off the table, it said. Tata Motors is now seeking government guarantees for a much smaller loan than the £400 million it sought earlier because it is confident it can raise the capital independently. In May, it successfully completed the refinancing of the $3 billion (£1.8 billion) bridging loan it had taken out to buy Jaguar Land Rover from Ford in 2008. Moreover,the drastic decline in vehicle sales in India has eased. The consortium of banks that has offered loans to Tata Motors now includes Indian banks. Ministers had envisaged that Lloyds Banking Group, in which the government has a 65% stake, would take a lead role in providing the loans, but other banks have offered to lend more. Simultaneously, separate talks are on between the government and JLR about providing guarantees to the £340 million loan offered by the European Investment Bank. This proposed loan is designed to help JLR adopt more fuel-efficient technologies and is not tied to its short-term survival. Source: Home - Livemint.com | 2 Aug 2009 | 12:34 am Top firms add Rs41,000 cr in a month; ONGC leadsMumbai: The country’s top-10 valued firms added over Rs41,000 crore to their market capitalisation during the month ended 31 July, with state-run Oil and Natural Gas Corporation (ONGC) contributing most to the kitty. PSU major ONGC added Rs23,934 crore to its valuation taking its total market cap to Rs2,49,071 crore at the end of trade in the just ended month. The top-10 coveted club, which comprises six public and four private sector firms, together added Rs41,131 crore during the month, taking their total valuation to Rs16,27,549 crore for the month ended July. The total market cap of these top gainers stood at Rs15,86,418.25 crore on 1 July. The country’s most valued firm, Reliance Industries saw erosion of Rs15,768 crore in its market cap in the last one month, after which it stood at Rs3,08,022 crore. Two PSUs NTPC added Rs16,491 crore to its market cap while MMTC lost Rs12,167 crore from their valuation. At the end of the month, market cap of NTPC stood at Rs1,77,772 crore and MMTC at Rs1,48,877 crore. Private telecom services provider Bharti Airtel lost Rs315 crore from its market cap, while National Mining Development Corporation (NMDC) added Rs159 crore to its market valuation. The market cap of Airtel stood at Rs1,55,879 crore and that of NMDC at Rs1,42,392 crore. Infosys Technologies jumped to seventh position from the ninth, after adding Rs15,355 crore to its market cap, taking its total market valuation to Rs1,18,274 crore. Despite the total valuation of State Bank of India and Bharat Heavy Electricals Ltd (Bhel) rising as much as Rs2,705 crore, the two companies saw their respective ranking fall. The market valuation of SBI stood at Rs1,15,167 crore and Bhel at Rs1,09,066 crore. Software service provider Tata Consultancy Services (TCS) entered into the list of top-10 firms replacing engineering major Larsen & Toubro Limited (L&T). Meanwhile, during the week the top-10 firms added Rs14,394 crore to their market cap taking its total market valuation to Rs 16,27,549 crore for the week ended 31 July. The firms had total market cap of Rs16,13,155 crore for the week ended 24 July. Source: Home - Livemint.com | 2 Aug 2009 | 12:23 am Tata to deliver 60,000 Nano by July 2010Tata Motors will deliver up to 60,000 units of the Nano by July next year while remaining committed to handing over the first one lakh cars by 2010. once its mother plant in Sanand goes on stream.Source: India Business News | Business News - Times of India | 2 Aug 2009 | 12:22 am Sensex companies score big in Q1New Delhi: India Inc is back to profitable ways, with every three out of four blue-chip companies reporting a surge in bottom line for the June quarter. Analysis of the net profit of the top 30 Sensex firms in the April-June quarter shows that their bottom line rose, on average, 36% over the year-ago period, after three quarters of weak earnings. The global economic gloom notwithstanding, the Bombay Stock Exchange Sensex firms together saw their top line climb an average of 8% in the June quarter. “Earnings for corporate India remain meaningfully ahead well into the current reporting season ... average earnings growth is mid-teens, and a good 5-10% ahead of our expectations, across various aggregates,” Citigroup said in its India Equity Strategy report. Companies that have reported a significant surge in June quarter profit include Jaiprakash Associates (292%), Mahindra & Mahindra (152%), Tata Power (144%), Hero Honda (83%), and cement firm ACC Ltd (79%). Analysts say that even as the margins of the companies are improving, sales are poor as there is slack in demand. “Businesses have clearly taken advantage of raw material costs (50% of expenses), but also appear to have cut other operating costs, collectively driving up margins 211 basis points YoY. We believe rising margin is good, but rising demand or sales would probably be better,“ the report added. The country’s largest bank, SBI, posted 42% growth in net profit, backed by a healthy rise in treasury, wholesale and retail banking operations. Commenting on the SBI results, the Citigroup research note said, “SBI needs (more than others) growth and slightly higher rates; to leverage its bullish positioning, and also ease current strains.” Besides, Tata Motors reported 58% growth in profit. The eight laggards among the 30 Sensex companies are heavyweight Reliance Industries (12%), DLF Ltd (86%), Sun Pharma (57%), Tata Steel (down 47%), Sterlite Industries (42%), ONGC (27%), Hindalco (31%) and Hindustan Unilever (2.7%). “Sales expectations are more in line with actual results and reflect a weak demand scenario ... earnings are ahead and reflect a healthy margin scenario,” the report said. At a broader level, 178 out of BSE 500 companies have reported 17% YoY growth in profit. However, analysts feel with there being many surprises in earnings figures, the situation suggests volatility and modest predictability. Meanwhile, sectoral performance at the broader level was more or less in line with anticipations, although street expectations have not necessarily been high. “The sector leaders have been banks, IT services, and telecom. Materials and consumer and capital goods have been in line with diversified financials the laggards,” Citigroup noted. Source: Home - Livemint.com | 2 Aug 2009 | 12:14 am Nissan unveils zero-emission hatchback "Leaf"YOKOHAMA, Japan (Reuters) - Nissan Motor Co took the wraps off its much-awaited electric car on Sunday, naming the hatchback "Leaf" and taking a step towards its goal of leading the industry in the zero-emissions field.Source: Reuters: Money News | 2 Aug 2009 | 12:11 am Govt's bilateral policy marginalising Indian carriers: UnionsThe government's liberal aviation policy granting forign carriers to operate out of the country in lucrative routes have "marginalised" Indian airlines.Source: Daily News & Analysis: Money News | 2 Aug 2009 | 12:08 am Maruti, Hero Honda race ahead in JulyMumbai, Aug. 1 Maruti Suzuki and Hero Honda are the undisputed market leaders in the car and two-wheeler segments as evident from sales in July.Source: Business Line - Home Page | 2 Aug 2009 | 12:00 am Airlines’ strike call not too well-timedNew Delhi, Aug. 1 A year after pleas for help to the Government fell on deaf ears, the domestic private sector airlines are again knocking on the Government’s door. This time, the industry has called for a one-day suspension of allSource: Business Line - Home Page | 2 Aug 2009 | 12:00 am Consumer goods cos on song as urban, rural spends remain strongConsumer goods companies have seen their products really move fast off the shelves in the latest June quarter even as other key sectors of India Inc struggled to sell.Source: Business Line - Home Page | 2 Aug 2009 | 12:00 am Attractively-priced IPOs draw retail interestMumbai, Aug 1 Retail investors are once again gravitating towards the IPO market, which saw a lull for almost 18Source: Business Line - Home Page | 2 Aug 2009 | 12:00 am Centre cannot bail out private airlines: PatelMumbai/New Delhi, Aug 1 The Centre is clearly in no mood to accede to the demands of private airlines going by what the Minister of Civil Aviation, Mr Praful Patel, and the DGCA (Director-General of Civil Aviation) had to say about the move toSource: Business Line - Home Page | 2 Aug 2009 | 12:00 am KG gas deflates naphthaNew Delhi, Aug. 1 With the Krishna-Godavari Basin gas coming on stream, naphtha consumption has begun to decline as power and fertiliser units are shifting to cheaper feedstock.Source: Business Line - Home Page | 2 Aug 2009 | 12:00 am Weekly News Round UpThe annual inflation rate based on the Consumer Price Index for Industrial Workers rose to 9.29 per cent in June from 8.63 per cent a month earlier, the Labour Bureau said. The rise comes even as the Wholesale Price Index has plunged into theSource: Business Line - Home Page | 2 Aug 2009 | 12:00 am Hyundai, Kia to offer incentives for jobless in S.KoreaSEOUL (Reuters) - Hyundai Motor Co and Kia Motors Corp said on Sunday they plan to provide incentives to customers in South Korea if they lose their jobs or go bankrupt.Source: Reuters: Money News | 1 Aug 2009 | 11:38 pm Travel by Air India only, govt tells its employeesThe government has directed its employees to use only Air India during their official domestic and foreign tours.Source: Daily News & Analysis: Money News | 1 Aug 2009 | 11:27 pm Delhi, satellite towns record 17 percent jump in new jobsShrugging off recession worries, the national capital region (NCR) has recorded a 17.1 percent surge in jobs creation in the first four months of this fiscal against the last four months of the previous fiscal, according to a study by a business body.Source: IndiaeNews.com: Business News | 1 Aug 2009 | 11:00 pm Reliance Infra's order-book set to cross Rs 50000 cr mark - Economic Times
Source: Business - Google News | 1 Aug 2009 | 10:31 pm Honda looks inwards to Jazz things up - Economic Times
Source: Business - Google News | 1 Aug 2009 | 5:32 pm Congress stamp may give NREGA new name - Times of India
Source: Business - Google News | 1 Aug 2009 | 4:15 pm Private airlines' threat backfires, govt says strike call 'illegal'The DGCA on Saturday threw the rule book at airlines, telling them there's nothing like suspension of service in their permits allowing them to fly as airlines.Source: India Business News | Business News - Times of India | 1 Aug 2009 | 4:11 pm Gail to ramp up hiring in phases over 4-5 yearsState-run GAIL plans to ramp up hiring in phases over the next 4-5 years as it expands its pipeline network in south and east.Source: India Business News | Business News - Times of India | 1 Aug 2009 | 4:07 pm Pranab hints at bold decisions to bring economy back on track - Times of India
Source: Business - Google News | 1 Aug 2009 | 2:11 pm Airlines strike may not take off IndiGo has pulled out of the strike, even as the Federation of Indian Airlines adopted a more conciliatory stance and all private airlines continued to accept bookings.Source: India Business News | Business News - Times of India | 1 Aug 2009 | 1:30 pm No bailout for private carriersThe civil aviation ministry has turned down the demand for a bailout made by top private airlines yesterday. Eight carriers had said on Friday that they will suspend operations on August 18 to press their demand, which the ministry appears to be in no mood to accommodate.Source: Business Standard | Front Page Headlines | 1 Aug 2009 | 1:29 pm DE Shaw may retain stake in DLF Assets - Business Standard
Source: Business - Google News | 1 Aug 2009 | 12:43 pm Regaining the narrative - Business Standard
Source: Business - Google News | 1 Aug 2009 | 12:42 pm Car sales rev up in JulyHelped by softer interest rates on vehicle loans as well as their better availability, the countrys top car makers posted healthy sales growth in July.Source: Business Standard | Front Page Headlines | 1 Aug 2009 | 12:33 pm IndiGo Airways not to go on strikeIndiGo's decision to ignore the call of Federation of Indian Airlines comes after the government warned of "appropriate action" against those who disrupt flight schedule on August 18.Source: India Business News | Business News - Times of India | 1 Aug 2009 | 11:02 am Kolkata commuters suffer as vehicle ban is implementedCommuters here had a tough time as a large number of buses, auto rickshaws and taxis kept off the roads Saturday and authorities seized over-15-year-old commercial vehicles following a ban by the Calcutta High Court.Source: IndiaeNews.com: Business News | 1 Aug 2009 | 11:00 am Germany ups pressure on GM for Opel deal - paperFRANKFURT (Reuters) - German Foreign Minister Frank-Walter Steinmeier telephoned GM's chief executive to underscore Germany's expectations for the sale of GM's Opel unit, a newspaper reported on Saturday.Source: Reuters: Money News | 1 Aug 2009 | 10:26 am How is OP Bhatt steering SBI through troubled times?This year, Om Prakash Bhatt, Chairman, SBI, was named the Best Banker of the Year for a good reason. Since he took charge at Indias largest public sector bank in 2006, he has raised the banks market share and loans from 15% to 16.5% and deposits from 15% to 17.5%. He has also regained the top slot for market capitalisation.Source: Moneycontrol Top Headlines | 1 Aug 2009 | 9:52 am India's economic strategy effective in global crisis: FMFinance minister Pranab Mukherjee on Saturday said that the government's economic strategy had blunted the impact of current global downturn.Source: India Business News | Business News - Times of India | 1 Aug 2009 | 9:50 am Govt can\'t bail out pvt airlines says Praful PatelAviation Minister Praful Patel has said that the government was not ion position to help private airlines financially. Tax on ATF has been a problem for many years. He added that the government would reiterate its advice to private airline.Source: Moneycontrol Top Headlines | 1 Aug 2009 | 8:36 am Rail passengers will get Himachal apple juiceTrain travellers will soon be able to quaff apple juice from Himachal Pradesh with Indian Railways deciding to serve it on important trains, state Horticulture Minister Narender Bragta said Saturday.Source: IndiaeNews.com: Business News | 1 Aug 2009 | 8:31 am INTERVIEW - World trade system starting to work again - LamyJOHANNESBURG (Reuters) - A $250 billion financial package to revive a global trading system crippled by the credit crisis is starting to bear fruit, especially in Asia, the head of the World Trade Organisation (WTO) said on Saturday.Source: Reuters: Money News | 1 Aug 2009 | 8:10 am Maruti July sales total sales up 33.4% at 78,074 unitsMaruti Suzuki has announced its sales numbers for the month of July 2009. Its July total sales surged 33.36% to 78,074 units as against 58,543 units in the same period of last year, reports CNBCTV18 quoting NewsWire18.Source: Moneycontrol Top Headlines | 1 Aug 2009 | 7:22 am TVS Motor July total 2wheeler sales at 1.21 lakh unitsTVS Motor has announced its sales numbers for the month of July 2009. The company\'s total 2wheeler sales stood at 1.21 lakh units versus 1.2 lakh units (YoY).Source: Moneycontrol Top Headlines | 1 Aug 2009 | 7:16 am German car industry says slump bottoms outBERLIN (Reuters) - The downturn in the German car industry has bottomed out but it will take time before sales recover to the levels of recent years, the president of Germany's car industry association (VDA) said on Saturday.Source: Reuters: Money News | 1 Aug 2009 | 6:52 am Lower sales pushes Suzlon into the red; posts Rs 452cr Q1 lossWind turbine maker Suzlon Energy on Saturday reported a consolidated net loss of Rs 452.67 crore for the first quarter ended June 30 due to lower sales volumes.Source: India Business News | Business News - Times of India | 1 Aug 2009 | 5:29 am Four notes out of 10 lakh notes in circulation are fake: RBI Out of 10 lakh notes in circulation, only four notes were found to be forged in 2007-08, the Reserve Bank of India has said.Source: India Business News | Business News - Times of India | 1 Aug 2009 | 5:21 am Gold surges on strong global cues, festive demandGold prices on Friday surged by Rs 140 to Rs 15,090 per ten gram registering a significant gain in the national capital, triggered by firming global trend.Source: India Business News | Business News - Times of India | 1 Aug 2009 | 5:09 am Govt warns private airlines of “appropriate action” against strikeNew Delhi: Government on Saturday asked private airlines to withdraw their call for suspending flights on 18 August and warned them of “appropriate action” if flight schedules are disrupted. “The government reiterates its advice to private airlines against suspending operations on August 18,” civil aviation minister Praful Patel said in a statement while maintaining that the government cannot be expected to extend financial help to loss-making private carriers. Patel, who has renewed his appeal to the private carriers for negotiations, also said the Directorate General of Civil Aviation (DGCA) could “take appropriate action” under its regulatory powers to protect passengers’ interest. Official sources said if the airlines do not operate flights on a day, it would mean breaking the schedule, which would go against the laid-down rules and procedures of airline operations. Action could be taken by the DGCA on this count, they added. Eight major private carriers, under the aegis of their industry body Federation of Indian Airlines (FIA), had on Friday announced their decision not to fly on 18 August, protesting the growing aviation turbine fuel prices (ATF) and taxes on it, besides high airport charges. Source: LatestNews-Home - Livemint.com | 1 Aug 2009 | 5:05 am GMR Infra Q1 net profit dips 70% to Rs22 crMumbai: Infrastructure company GMR Infrastructure on Saturday said its consolidated net profit declined by 69.92% to Rs22.53 crore for the first quarter ended June 2009, over the same period last year. Its net sales rose to Rs1,177.52 crore in the latest quarter, against Rs885.47 crore in the same quarter a year ago, GMR Infrastructure said in a filing to the Bombay Stock Exchange. On a standalone basis, the company has posted a decline of 91.50% in net profit of Rs3.56 crore for the quarter ended June, over the same period last year. Total income declined to Rs17.48 crore in the latest quarter against Rs55.44 crore in the same period last year. Source: LatestNews-Home - Livemint.com | 1 Aug 2009 | 4:45 am Obama says many months before U.S. exits recessionWASHINGTON (Reuters) - President Barack Obama warned on Saturday it would take "many more months" for the United States to get out of recession even after GDP figures showed the economy shrank only modestly in the second quarter.Source: Reuters: Money News | 1 Aug 2009 | 4:04 am Go fly, says PatelDGCA letter tells airlines to refund ticket money in case flights are cancelled on August 18; IndiGo breaks ranks, says it will not cancel flights.Source: Daily News & Analysis: Money News | 1 Aug 2009 | 3:15 am
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