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To derive Rs 250cr from Swiss co collaboration: KEI IndKEI Industries recently had a technical collaboration with a Swiss company. In an interview with CNBCTV18, Anil Gupta, Chairman and Managing Director of the company, spoke about it.Source: Moneycontrol Top Headlines | 7 Jan 2010 | 8:02 am Om Metals looking at Rs 50150cr acquisitionOm Metals Infraprojects has many plans to acquire the EPC players in the hydro power business. In an exclusive interview with CNBCTV18, Vikas Kothari, Director, Om Metals, speaks about the latest happenings in his company and sector.Source: Moneycontrol Top Headlines | 7 Jan 2010 | 7:58 am Domestic, intl prices to move in sync: Simbhaoli SugarsIn an interview with CNBCTV18, Sanjay Tapriya, Director Finance of Simbhaoli Sugar Mills spoke about the results and his outlook for the company.Source: Moneycontrol Top Headlines | 7 Jan 2010 | 7:51 am Axis Bank launches new home loan scheme at 8.25%Axis Bank recently announced a new home loan product; fixed for two years at 8.25%. In an exclusive interview with CNBCTV18, Manju Srivatsa, PresidentRetail Banking, Axis Bank, speaks about the new product.Source: Moneycontrol Top Headlines | 7 Jan 2010 | 7:39 am No formal advice on steel price hike: SAILIn an interview with CNBCTV18, SK Roongta, Chairman and Managing Director of Steel Authority of India Limited (SAIL), spoke about the hike in steel prices.Source: Moneycontrol Top Headlines | 7 Jan 2010 | 7:09 am Hero Honda to exceed FY10 sales targetIndia\'s top motorcycle maker Hero Honda will comfortably exceed its fiscal 2009/10 sales target of 4 million units, its managing director Pawan Munjal told Reuters on Thursday.Source: Moneycontrol Top Headlines | 7 Jan 2010 | 7:08 am Maruti Suzuki to sell new van, Eeco, at Rs 2.59 lakhMaruti Suzuki, India\'s top carmaker, said on Thursday it had priced newly launched fiveseater multipurpose car Eeco at 259,000 rupees ($5,640), as competition for lowcost vehicles heats up.Source: Moneycontrol Top Headlines | 7 Jan 2010 | 6:53 am US stocks up slightly on commodity gains!US stocks climbed slightly on Wednesday, led by commodities producers, but the technology sector slumped.Source: Zee News : Business | 7 Jan 2010 | 5:36 am Kodak nudges off Canon to number two position!Kodak India, has now become number two in digital cameras category in India replacing Canon and Kodak C140 is India`s highest selling digital camera.Source: Zee News : Business | 7 Jan 2010 | 5:36 am Reliance MediaWorks acquires UK`s ilab!Reliance Media works has acquired the assets of ilab UK Ltd, one of only two film processing facilities operating in London`s SOHO, said the company in a release on Thursday.Source: Zee News : Business | 7 Jan 2010 | 5:36 am Sensex sheds 40 pts in early trade on profit-taking!The Bombay Stock Exchange benchmark Sensex on Thursday fell by over 40 points, or 0.23 percent, in early trade as investors sold shares to book profit after recent gains.Source: Zee News : Business | 7 Jan 2010 | 5:36 am Asian shares up on resources, eyes on U.S. jobs!Asian shares edged up on Thursday, buoyed by resource shares, while the dollar was on the defensive after Fed Reserve`s latest policy meeting suggested the possibility of more stimulus measures for the US economy.Source: Zee News : Business | 7 Jan 2010 | 5:36 am US to get first look at Nano next week!Tata Nano, the world`s cheapest car, is coming to Detroit and will be on display for the US audience for the first time next week.Source: Zee News : Business | 7 Jan 2010 | 5:36 am ICICI Bank cuts car loan rates: Report!ICICI Bank, India`s second biggest lender, has cut car loan rates and raised dealer commissions, an Indian daily reported on Thursday citing people familiar with the matter.Source: Zee News : Business | 7 Jan 2010 | 5:36 am Rupee hits 15-month high, gains 10 paise against dollar!The rupee on Thursday appreciated by 10 paise to hit a 15-month high of 45.74 a dollar in early trade, tracking other firming Asian currencies.Source: Zee News : Business | 7 Jan 2010 | 5:36 am US Dec job cuts fall to lowest in 2 yrs; 1.28 mn laid-off in `09!Job cuts by US employers in December last year fell to their lowest level since the recession began in 2007.Source: Zee News : Business | 7 Jan 2010 | 5:36 am JAL to get 3.3 bln dollars in public funds: Reports!Japan Airlines is likely to get about 3.3 billion dollars of new public money from a state-backed body overseeing the rehabilitation of the struggling carrier, reports said on Thursday.Source: Zee News : Business | 7 Jan 2010 | 5:36 am ArcelorMittal plans to set up third steel plant in K\'takaSteel czar and Chairman and Chief Executive Officer of ArcelorMittal, LN Mittal said that the company was planning to set up its third steel planta six million tonne plantin Karnataka. The plant would entail investments of Rs 22,00025,000 crore. We will sign the Memorandum of Understanding with the Karnataka in June.Source: Moneycontrol Top Headlines | 7 Jan 2010 | 5:18 am Bajaj Hind looks at raising up to $250 mn: SourcesMumbaibased sugar and ethanol manufacturing company Bajaj Hindusthan Ltd (BHL), is looking at raising up to USD 250 million, sources inform CNBCTV18. Of the USD 250 million, USD 100 million will be raised via qualified institutional placement (QIP) and USD 150 million via convertible bonds.Source: Moneycontrol Top Headlines | 7 Jan 2010 | 5:02 am Indian shipyards face bleak 2010; Bharati promisingIndian shipbuilders are heading for for another bleak year in 2010 amidst weak demand and prospects of order cancellations as the global economy struggles to emerge from a slowdown, analysts said.Source: Moneycontrol Top Headlines | 7 Jan 2010 | 5:01 am RBI files complaint against State Bank of India for depositing 'fake notes'The Reserve Bank of India has lodged a complaint against an SBI branch here for allegedly depositing fake currency notes with it, police said.Source: Daily News & Analysis: Money News | 7 Jan 2010 | 3:32 am ArcelorMittal may shift projects within India: Laxmi Mittal - Economic Times
Source: Business - Google News | 7 Jan 2010 | 3:28 am Subhash Projects gets two orders from UP Jal Nigam - Moneycontrol.com
Source: Business - Google News | 7 Jan 2010 | 3:06 am RBI mulls STRIPS; mkt eyes 6.35 pct 2020 bond - Reuters India
Source: Business - Google News | 7 Jan 2010 | 3:03 am Govt to sell stakes in 60 state-run firms: Official - Economic Times
Source: Business - Google News | 7 Jan 2010 | 2:57 am ANALYSIS - U.S. bird listing to hit energy, wind industriesDALLAS (Reuters) - Efforts to protect an iconic bird could disrupt oil, natural gas and wind energy development in the U.S. West and add to the Democratic Party's green woes ahead of the 2010 congressional elections.Source: Reuters: Money News | 7 Jan 2010 | 2:50 am GLOBAL MARKETS - Equities slip, yen weakens, eyes on U.S. dataLONDON (Reuters) - Equities came off the boil globally on Thursday, after rising every day so far this year, as investors stepped back to await key U.S. economic data at the end of the week.Source: Reuters: Money News | 7 Jan 2010 | 2:48 am Govt to sell stakes in 60 state-run firms: Finance ministryIn November, the Indian cabinet approved a proposal to sell at least 10 percent government holding in state-run firms and use the proceeds for social schemes until March 2012, to cut its fiscal deficit.Source: Daily News & Analysis: Money News | 7 Jan 2010 | 2:40 am Nifty choppy; RIL, Hindalco lead, TCS, Infy, SAIL drag - Moneycontrol.com
Source: Business - Google News | 7 Jan 2010 | 2:35 am Securities and Exchange Board of India clarifies asset cover norms for debtThis was to discourage issuers who were classifying as 'secured' debt instruments where just a fraction of the principal was covered. Secured debt attracts lower coupon rates than unsecured debt.Source: Daily News & Analysis: Money News | 7 Jan 2010 | 2:28 am Ashok Leyland unveils bus with wireless connectivity - Business Standard
Source: Business - Google News | 7 Jan 2010 | 2:18 am Govt to sell stakes in 60 state-run firms - officialNEW DELHI (Reuters) - Finance ministry is in talks with other ministries for selling stakes in around 60 state-run firms in coming years, including miner Hindustan Copper Ltd, a senior official told Reuters on Thursday.Source: Reuters: Money News | 7 Jan 2010 | 2:10 am Samsung expects strong 4th-quarter profitSeoul: Samsung Electronics Co. predicted Thursday an operating profit of up to $3.44 billion for the fourth quarter of 2009 as the world’s top TV seller roars back after racking up its first ever loss a year earlier. The Suwon, South Korea-based corporation expects consolidated operating profit of between 3.5 trillion won and 3.9 trillion won ($3.44 billion) for the three months ended 31 December, according to a statement. Samsung, the world’s largest manufacturer of flat screen televisions, computer memory chips and liquid crystal displays, reported a consolidated operating loss of 740 billion won in the same period last year. The loss came amid a breakdown in consumer demand amid the global economic slump. Samsung provided no reasons for last quarter’s performance and planned to elaborate when it officially releases its earnings statement sometime at the end of this month, said spokeswoman Lee Soo-jeong. Lee Min-hee, an analyst at Dongbu Securities in Seoul, said Samsung has been benefiting from strong performance in flat screen TVs, memory chips and liquid crystal displays. “Samsung’s business has sharply turned around from the second quarter last year,” he said as the company has used weakness in the South Korean won, which makes it products more competitive against Japanese rivals, and aggressive marketing to increase market share. The company, however, faces risks in 2010 in the form of a strengthening won and concerns about how aggressively consumers in the United States and Europe will spend amid lingering high unemployment, he said. Samsung, which is the world’s No. 2 maker of mobile phone handsets behind Finland’s Nokia Corp., began issuing earnings estimates for the second quarter of 2009, saying they would help minimize market speculation over its performance and increase corporate transparency. The estimates include the performance of its overseas and domestic subsidiaries excluding financial business, Lee said. The company’s highest quarterly consolidated operating profit was 4.23 trillion won in the third quarter of 2009, so while the estimated fourth quarter figure would mark a return to profit from the year before it would be weaker than the previous three months. Samsung estimated consolidated sales of between 38 trillion won and 40 trillion won for the fourth quarter. That compares with sales of 33 trillion won a year earlier. Samsung’s announcement did not include estimates for its earnings on a parent basis, which include net profit. Samsung recorded its first ever quarterly net loss in the fourth quarter of 2008, losing 20 billion won. It also recorded its first quarterly red ink on a parent operating basis. Dongbu’s Lee said that he expects parent net profit to come in at around 3 trillion won, failing to match the third quarter’s record 3.72 trillion won performance amid spending for employee bonuses and increased marketing expenses for mobile phones and TVs. Operating earnings are seen as a direct indicator of core business performance while net profit or loss also reflects taxes, dividends, asset sales and other items. Shares in Samsung, which released the estimates before the stock market opened, fell 3.3% to close at 813,000 won. Samsung’s stock price, which surged 77.2% in 2009, hit a record high of 841,000 won Wednesday, according to the Korea Exchange. Source: LatestNews-Home - Livemint.com | 7 Jan 2010 | 2:07 am Rupees extends rally to new 15-month highMUMBAI (Reuters) - The rupee extended its rally on Thursday afternoon soaring to new 15-month highs backed by large dollar sales by foreign banks, but buying of the U.S. unit by importers and a weak sharemarket prevented a sharper rise.Source: Reuters: Money News | 7 Jan 2010 | 2:01 am Maruti Suzuki to sell new multipurpose van at Rs259,000Maruti, 54.2 percent owned by Japan's Suzuki Motor Corp, will sell the seven-seater version of Eeco at 275,000 rupees, the company said at the Delhi auto show.Source: Daily News & Analysis: Money News | 7 Jan 2010 | 1:51 am Hero Honda to exceed 2010 sales target: Pawan MunjalThe country's top motorcycle maker Hero Honda will comfortably exceed its fiscal 2009-10 sales target of 4 million units says its managing director.Source: Daily News & Analysis: Money News | 7 Jan 2010 | 1:47 am Food inflation eases, fuel prices rise - Economic Times
Source: Business - Google News | 7 Jan 2010 | 1:45 am Rupees extends rally to new 15-month highMumbai: The Indian rupee extended its rally on Thursday afternoon soaring to new 15-month highs backed by large dollar sales by foreign banks, but buying of the US unit by importers and a weak sharemarket prevented a sharper rise. At 2:25pm, the partially convertible rupee was trading at Rs45.69/70 per dollar after hitting Rs45.55 earlier, its strongest since 23 September, 2008, and above its previous close of Rs45.85/86. “There is large dollar selling by foreign banks, almost everyone is a seller today. Only some oil buying is seen,” a senior dealer with a foreign bank said. One-month offshore non-deliverable forward contracts were quoted at Rs45.62/72, marginally stronger than the onshore spot rate. Domestic shares were trading down 0.6 percent as resistance crept in after they scaled a 22-month peak in the previous session and on muted Asian cues. In the currency futures market, the most traded near-month contracts on the National Stock Exchange and MCX-SX were quoting at Rs45.6875 and Rs45.6850 respectively, with the total traded volume on the two exchanges at about $4.4 billion. Source: Home - Livemint.com | 7 Jan 2010 | 1:45 am US clears arms sale to Taiwan despite China’s ireTaipei / Beijing: The US has cleared a sale of advanced Patriot air defence missiles to Taiwan despite opposition from rival China, where a military official proposed sanctioning US firms that sell arms to the island. The US defence department announced the contract late on Wednesday, allowing Lockheed Martin Corp to sell an unspecified number of Patriots, Washington’s de facto embassy in Taipei said. The hardware, some of the best in its class, could shoot down Chinese short-range and mid-range missiles, defence analysts say. “The sale rounds out a $6.5-billion arms package approved under then US president George W. Bush in late 2008,” said Wendell Minnick, Asia bureau chief with Defense News. “This is the last piece that Taiwan has been waiting on,” Minnick said. China has urged the US to cancel any planned arms sales to Taiwan to avoid damaging ties with Beijing, and a Chinese foreign ministry spokeswoman, Jiang Yu, swiftly denounced the missile deal. “We have already made stern representations to the US side, and we have urged the US to clearly recognise the serious harm caused by arms sales to Taiwan,” Jiang said. Meanwhile, Chinese Vice-admiral Yang Yi told the China News Service that though developing good ties between China and the US was important, some things could not be accepted. “You can’t just be forebearing and conciliatory when it comes to the development of stable and healthy Sino-US relations, and especially when it comes to a question of principles you should never blindly make concessions,” he said. “Some US companies which sell weapons to Taiwan also want to sell aircraft and other goods to China,” Yang added, who is also a researcher at the Chinese National Defence University’s Strategic Studies Institute, without naming any firms. “Why don’t we take defensive countermeasures against them? Apart from just protesting to the US government and taking necessary steps, why don’t we put sanctions on these troublemakers?,” Yang said. China has claimed sovereignty over self-ruled Taiwan since 1949, when Mao Zedong’s Communists won the Chinese civil war and Chiang Kai-shek’s Nationalists fled to the island. Beijing has vowed to bring Taiwan under its rule, by force if necessary. The US switched diplomatic recognition from Taipei to Beijing in 1979, recognising one China. But it remains Taiwan’s biggest ally and is obligated by the 1979 Taiwan Relations Act to help in the island’s defence. “Taiwan’s defence ministry looks favourably at the US continuing to sell Taiwan weapons for its self defence,” Taiwan military spokesman Martin Yu said. Taiwan estimates China is aiming 1,000 to 1,500 missiles at the island. Source: LatestNews-Home - Livemint.com | 7 Jan 2010 | 1:44 am Chinese cellphone importer booked under anti-smuggling lawIn February last year, the ED had seized about Rs1 crore during its searches at various premises of the businessman across the national capital, including Karol Bagh and Chandini Chowk areas.Source: Daily News & Analysis: Money News | 7 Jan 2010 | 1:43 am INTERVIEW - ING India bets on quant funds, eyes $285 mln assetsMUMBAI (Reuters) - ING aims to launch at least two new quant funds in India, following the success of the strategy in the rapidly growing economy, and hopes to nearly quadruple assets under the schemes to about $285 million in 2010.Source: Reuters: Money News | 7 Jan 2010 | 1:43 am Maruti Suzuki launches MPV Eeco at Rs 2.59 lakhThe country's largest car maker, Maruti Suzuki on Thursday launched a multi-purpose vehicle, Eeco, at an introductory price between Rs 2.59 lakh and Rs 2.89 lakh.Source: India Business News | Business News - Times of India | 7 Jan 2010 | 1:41 am Govt to sell stakes in 60 state-run firmsNew Delhi: The finance ministry is in talks with other ministries for selling stakes in around 60 state-run firms in coming years, including miner Hindustan Copper Ltd., a senior official said on Thursday. “(Hindustan Copper) is one of the companies in which government is considering to sell its stake,” Sunil Mitra, who is in charge of disinvestment at the finance ministry, said in a telephone interview. Media reports have said the company’s board has already approved up to 20% of its stake sale in the fiscal year that starts in April 2010. A 20% stake in the firm would be worth about $1.15 billion based on the stock’s current price. In November, the Indian cabinet approved a proposal to sell at least 10% government holding in state-run firms and use the proceeds for social schemes until March 2012, to cut its fiscal deficit. The mines ministry must send a proposal to the finance ministry after the company gets approval from its board. Then, India’s cabinet must give its approval for the company to tap the market. “No proposal has been received as yet for 20% stake sale in Hindustan Copper (from Mines Ministry),” Mitra said. The Indian government holds about 99.6% in the copper producer. Source: Home - Livemint.com | 7 Jan 2010 | 1:40 am Yahoo India signs Research and Development pact with IIT-BThe agreement is part of an initiative to support the faculty and students of IITB in their research.Source: Daily News & Analysis: Money News | 7 Jan 2010 | 1:38 am Reliance Mediaworks expands in UK, acquires ilabReliance MediaWorks UK offers high-end services within its own facility and also taps into the quality and scale of services available through the parent company's operations in India and US.Source: Daily News & Analysis: Money News | 7 Jan 2010 | 1:36 am Reliance MediaWorks acquires UK-based ilab - Business Standard
Source: Business - Google News | 7 Jan 2010 | 1:31 am Yahoo India R&D in pact with IITBBangalore: Yahoo India Research and Development, has entered into an agreement with Indian Institute of Technology, Bombay (IITB), to provide access to a cluster of servers running Yahoo’s open source Hadoop software and web data. The agreement is part of an initiative to support the faculty and students of IITB in their research. The partnership would support IITB researchers study areas such as advanced searching and ranking techniques aimed at bridging the gap between unstructured, semi-structured and structured data, information extraction and natural language processing, the company said in a statement here Thursday. The agreement would also allow access to IIT-B researchers to a cloud computing environment, allowing them to carry out research on web-scale data, it said. The cluster provided by Yahoo has been set up at IITB and is already operational. Source: LatestNews-Home - Livemint.com | 7 Jan 2010 | 1:30 am Gold buying extends to fourth dayMumbai: India’s gold buying extended to a fourth day on Thursday, with a limited quantity changing hands, as the rupee surged to its highest level in more than 15 months, making the dollar-quoted yellow metal cheaper, dealers said. “Some night deals got executed today at around $1,130 (an ounce), we did quiet a few deals at $1,125 yesterday,” said a dealer with a state-run bullion dealing bank in Mumbai. The Indian rupee surged to its highest level in more than 15 months, buoyed by the dollar’s broad weakness globally and following gains in other regional peers, with further gains expected. At 2:12pm, international spot gold was trading $1,132.00/1,132.80 an ounce as against 1,137.90/1,138.70 in the previous session. “People are interested after seeing (record) highs of $1,226.1 (on 3 Dec) ... There is some activity but not like what it was for the last few days,” said a dealer with a private bank. Dealers expect physical offtake of gold to continue as long as the rupee appreciates. “We expect January imports to be on the higher side like that of December,” a said state-run bank dealer. India’s gold imports in December jumped to 32-35 tonnes provisionally from 3 tonnes a year ago, the head of Bombay Bullion Association (BBA) said last week. “Market may get activated further if prices come down to $1,080-1,120,” said the private bank dealer. Source: Home - Livemint.com | 7 Jan 2010 | 1:30 am Reliance Mediaworks expands in UK, acquires ilab Mumbai: Strengthening its foothold in UK’s post-production market, Anil Ambani’s Reliance Mediaworks Ltd has acquired the assets of ilab UK Ltd, enabling it to service local filmmakers, Hollywood and the Hindi film industry. Reliance Mediaworks has opened a dedicated film and media services facility in London, which would offer front-end, processing, restoration, 2D to 3D conversion and post-production services to broadcasters and studios, the company said in a release here on Thursday. The company did not disclose the amount for which it acquired ilab. “Our expansion is growing at a remarkable pace and we are happy to now be offering our services in the UK, one of the world’s leading post-production markets,” Reliance MediaWorks chief executive officer Anil Arjun said. “Through Reliance MediaWorks UK, we would provide next generation services for the local filmmakers and broadcasters, while also catering to Hollywood and Hindi film businesses,” Arjun said. He said that the acquisition of ilab strengthens the company’s portfolio in Britain and also creates synergies in its UK operations and existing media services chain globally. Reliance MediaWorks UK offers high-end services within its own facility and also taps into the quality and scale of services available through the parent company’s operations in India and US. The company has secured image processing and restoration work for two high profile projects from leading UK broadcasters at its Los Angeles-based subsidiary, Lowry Digital, the release said. Lowry Digital has executed projects for studios like Walt Disney, Paramount Pictures, MGM and 20th Century Fox as well as Hollywood filmmakers such as George Lucas, Steven Spielberg and James Cameron. Reliance MediaWorks UK can offer high-end services within its own facility, as well tap into the quality and scale of services available through its operations in India and US, it said. Reliance MediaWorks is a fast-growing film and entertainment services company, which owns 500 screens across India, US, Malaysia and the Netherlands through BIG Cinemas. BIG Synergy, the company’s television venture, is present in the television programming industry. Source: LatestNews-Home - Livemint.com | 7 Jan 2010 | 1:24 am Maruti Suzuki to sell new van at 259,000 rupeesNEW DELHI (Reuters) - Maruti Suzuki, India's top carmaker, said on Thursday it had priced newly launched five-seater multipurpose car Eeco at 259,000 rupees ($5,640), as competition for low-cost vehicles heats up.Source: Reuters: Money News | 7 Jan 2010 | 1:21 am Food inflation eases, fuel prices riseNew Delhi: India’s food price inflation eased slightly in late December, but analysts said a rise in fuel prices may elevate headline inflation, maintaining pressure on the Reserve Bank of India (RBI) to tighten monetary policy. The food price index rose 18.22% in the 12 months to 26 December, lower than an annual rise of 19.83% in the previous week. Food prices are rising on supply constraints after the driest spell in nearly four decades, followed by floods in some regions that hit crops. Higher government prices paid to farmers are another factor. The fuel index rose an annual 4.85% in late December. The index has risen about 8% since the end of March 2009, following an upswing in world crude prices amid signs of a global recovery. “Correction in the prices of primary articles have been offset by a sharper-than-expected upmove in the fuel, power and light index,” said Anubhuti Sahay, an economist at Standard Chartered Bank in Mumbai. “We don’t expect any policy action from the RBI before the January policy review. But at the policy review, we expect a CRR hike of 50 basis points along with a possible rate hike.” The RBI has said interest rate policy cannot address inflation caused by supply problems, but has also said it is worried about a spill over to other prices. Senior government officials have said it is too early to raise interest rates. C. Rangarajan, the Prime Minister’s economic adviser, said on Tuesday some liquidity tightening might be needed to moderate price expectations. The RBI will hold its quarterly monetary policy review on 29 January and is widely expected to increase the cash reserve ratio (CRR) requirements for banks, but economists are divided on when it will raise interest rates. Early this week, secondary steel makers Uttam Galva Steels Ltd and Bhushan Steel raised prices of their products on demand recovery and some watchers expect further price increases in the next two to three months. “Although food prices are easing, they still remain a concern. They may creep into manufacturing inflation, which the RBI needs to monitor,” said N Bhanumurthy, an economist with National Institute of Public Finance and Policy. Last week, RBI deputy governor Shyamala Gopinath said the focus of monetary policy was shifting to managing recovery and containing inflation from fostering growth after the global downturn. Broader annual wholesale price inflation was 4.8% in November. Some economists expect it to reach about 8% by the end of the fiscal year in March, well above the RBI’s perceived comfort level of about 5%. Policy Debate India and South Korea are expected to be among the first Group of 20 nations to follow Australia and raise rates. Some policymakers have said that food prices may drop in coming months and ease the pressure on the central bank to hike rates. Prices of perishable food items have started coming down on a weekly basis, with the food articles sub-index falling 1% to 284.8. Food prices are politically sensitive in India, as hundreds of millions live on marginal incomes, and the price rises have sparked protests and walkouts in Parliament. The government last week allowed open market sale of wheat at lower prices, and extended a deadline for sugar firms to meet their export obligations for importing sugar. Source: Home - Livemint.com | 7 Jan 2010 | 1:19 am European shares fall in early trade, banks leadLondon: European shares fell back from a closing 15-month high on Thursday, with banks taking most points off the index, and ahead of the Bank of England’s decision on interest rates. At 0809 GMT, the FTSEurofirst 300 index of top European shares was down 0.5% at 1,055.49 points, having hit a 15-month closing high on Wednesday. The European benchmark is still up more than 63% from its lifetime low of 9 March 2009. The heavyweight banking sector took most points off the index. Banco Santander, Barclays, Credit Suisse and HSBC fell between 0.6 and 0.7%. On Wall Street, the S&P also hit another 15-month high on Wednesday. “Markets may take a breather today, but that’s a buying opportunity,” said Franz Wenzel, strategist at AXA Investment Managers in Paris. “Growth is recovering and we think the reporting season, which starts next week, will be good. The European markets are still following the US master.” Supermarket group J Sainsbury rose 2% after beating third-quarter sales growth forecasts, as rising customer numbers and strong sales of non-food ranges offset lower food price inflation. The Bank of England is likely to announce at 1200 GMT that it is keeping interest rates on hold at a record low of 0.5%, and maintaining the quantitative easing programme at 200 billion pounds of asset purchases. Later, investors’ attention will switch to the United States, where weekly jobless claims data is due. Source: LatestNews-Home - Livemint.com | 7 Jan 2010 | 1:15 am Food inflation eases, fuel prices riseNEW DELHI (Reuters) - India's food price inflation eased slightly in late December, but analysts said a rise in fuel prices may elevate headline inflation, maintaining pressure on the Reserve Bank of India (RBI) to tighten monetary policy.Source: Reuters: Money News | 7 Jan 2010 | 1:14 am Maruti launches MPV Eeco at Rs 2.59 lakh - NDTV.com
Source: Business - Google News | 7 Jan 2010 | 1:10 am Food inflation softens to 18.22%Potato remained expensive rising as much as 110% over the last year, followed by pulses whose prices jumped by 42.21%.Source: Daily News & Analysis: Money News | 7 Jan 2010 | 1:04 am India seen rising as key small-car production baseNEW DELHI (Reuters) - As global automakers boost their presence in the thriving Indian market, they will turn the country into a stage for novel experiments in lowering production costs to levels not seen before.Source: Reuters: Money News | 7 Jan 2010 | 1:02 am Food inflation softens to 18 22 pcFood inflation softened to 18.22 per cent as of the week ended December 26, although potato and pulses continued to cost high.Source: HindustanTimes.com - Top Business News Headlines | 7 Jan 2010 | 12:58 am Sebi eases asset cover norms for unsecured debt Mumbai: India’s market regulator Securities and Exchange Board of India (Sebi) said on Thursday regulated finance companies now no longer need to show 100% asset cover while selling unsecured debt instruments to raise capital, removing an earlier requirement. Sebi had in November said that, in case of listed securities, the issuer should maintain 100% asset cover sufficient to discharge the principal amount at all times. Source: Home - Livemint.com | 7 Jan 2010 | 12:51 am Maruti Suzuki launches MPV EecoThe country's largest car maker, Maruti Suzuki, launched a multi-purpose vehicle, Eeco, at an introductory price between Rs 2.59 lakh and Rs 2.89 lakh.Source: HindustanTimes.com - Top Business News Headlines | 7 Jan 2010 | 12:44 am Oil falls below $83 as month-long rally stallsInvestors have brushed off signs of weak US oil demand while bidding up crude prices from $69 a barrel in mid-December.Source: Daily News & Analysis: Money News | 7 Jan 2010 | 12:36 am Maruti unveils new family car Eeco priced at Rs2.59 lakh New Delhi: Maruti Suzuki, India’s top carmaker on Thursday said that it had priced newly launched five-seater multipurpose car Eeco at Rs2,59,000 ($5,640), as competition for low-cost vehicles heats up. Maruti, 54.2% owned by Japan’s Suzuki Motor Corp, will sell the seven-seater version of Eeco at Rs2,75,000, the company said at the Delhi auto show, where it also showcased an electric version of the vehicle. The Eeco is expected to initially sell 40,000 units annually, Maruti has said. Indian customers’ unmatched sensitivity to pricing has meant the market has been dominated for nearly 30 years by Maruti Suzuki, which sells one of every two cars on Indian roads. Source: Home - Livemint.com | 7 Jan 2010 | 12:35 am SAIL may cut steel prices soon New Delhi: State-run steel maker Steel Authority of India Ltd (SAIL) on Thursday said that it may cut prices of some of its products in near future. The company last week had raised prices of flat and long products by Rs1,500. “Since long steel product prices have gone up to a certain level, there may be some correction in the category in near future,” SAIL chairman S.K. Roongta said when asked if the company will revise prices of its products soon. Long steel products are mainly consumed by construction and infrastructure sectors. It is learnt that the steel ministry had also expressed concerns on increase in steel prices by domestic firms, including SAIL and Tata Steel, which own captive reserves of iron ore and coking coal. Many steel firms had cited increase in input cost besides the demand surge for price increase. Iron ore prices, which had fallen below $50 a tonne last year, are hovering at $100 a tonne at present. However, Roongta said: “Input cost does not determine steel prices. Its market fundamentals which decides prices.” On prices of flat steel products, which are primarily consumed by automobile and consumer durables industries, he said: “Prices are governed by international trend and internationally prices are rising.” Roongta, who is also head of special purpose vehicle International Coal Ventures formed to acquire coal properties abroad, said: “We are making all efforts to acquire property.” ICVL is looking at mining properties in countries like Australia, South Africa, the US. Source: LatestNews-Home - Livemint.com | 7 Jan 2010 | 12:27 am Asia shares ease after rally, eyes on US jobsTokyo: Asian shares eased after hitting a 17-month high on Thursday, while the dollar was steady as investors kept caution before US nonfarm payrolls data later in the week for hints on the greenback’s direction. Commodities came off the boil, dragged lower after China’s central bank took steps to tighten monetary policy and soak up money from the financial system. Industrial metals bore the brunt of commodities selling, which saw Shanghai copper erase a near 5% gain and steel futures hit their downside limit. The weakness also extended into oil, which reversed early gains to trade half a percent lower, and gold also retreated. The Australian dollar pared some of its gains hurt by profit-taking after jumping to a 15-month high against the yen and a two-year peak against the euro on the strong retail sales data, which added to the chances of another rise in interest rates as early as February. China’s central bank surprise hike in the auction yield of its three-month bills for the first time since mid-August prompted high-yielding currencies such as the Australian dollar to come off intraday peaks. The US dollar jumped against the yen after new Japanese finance minister Naoto Kan said he wanted the yen to weaken more. The dollar surged to the day’s high of ¥92.82, up from around ¥92.20 just before Kan’s comments reached the market. Many investors are turning their focus to US non-farm payrolls data due out on Friday to wait for trading direction. The rate of job losses at US private employers slowed in December to 84,000 from 1,45,000 in November but still exceeded the 72,000 expected by economists. “Investors are waiting for the US jobs report on Friday but the current climate of the market is one of investors willing to take risk,” said Tomohiro Nishida, treasury department manager at Chuo Mitsui Trust and Banking. Speaking in Shanghai, James Bullard, president of the St. Louis Federal Reserve Bank, said the market in the United States is improving and the economy is close to the point when the unemployment rate will start to fall. He also said house prices were stabilizing, and that housing starts were likely to steady and cease to be a drag on growth. Australian stocks fell 0.5%, as surprisingly strong retail sales data stoked expectations for an interest rate rise next month, weighing on rate sensitive stocks such as banks. Japan’s Nikkei slipped 0.5%, while South Korea’s Kospi dropped 1.3%. Samsung Electronics’, riding a strong price recovery in its memory chips business and benefiting from booming flat screen TV sales, issued estimates that signal a promising year for consumer electronics. Its shares were off more than 3 percent after rising to a record ahead of the news. The MSCI Index of Asia Pacific stocks outside Japan, which has been trading at 17-month highs, edged down 0.7%. A similar Thomson Reuters index shed 0.7%. China Concern “If China were to show a clearer stance toward liquidity tightening in coming months, there is a possibility that market players would link it to the yuan’s revaluation and raise worries about commodity and share prices,” said Jun Kato, senior chief analyst at Shinkin Central Bank Research Institute. Gold slipped on Thursday after reaching a three-week high above $1,140 per ounce the previous day, weighed down by investors’ caution ahead of the US jobs data. Spot gold was changing hands around $1,133.40 an ounce as of 0611 GMT. Crude oil for February delivery fell back below $83 on Thursday after settling up $1.41 a day earlier, its highest close since 9 October 2008. The Australian dollar shone after retail sales rose 1.4% in November, strengthening expectations of a further interest rate hike, which stands at 3.75% after three 25-basis-point increases in as many months. “Rates at the moment are just too low for an economy that has proven very resilient and has come out of a global recession rather unscathed,” said Helen Kevans, an economist at JPMorgan. “We expect rates at 4.5% mid-year and 5% by year-end.” The Aussie rose as far as $0.9268 after the data before falling back to $0.9203. It shot up as far as ¥85.54, its highest since late September 2008. The dollar index, which measures the value of the greenback against a basket of currencies, edged up 0.2% to 77.633. It lost some ground against the euro the previous day after the release of the Fed minutes. Source: Home - Livemint.com | 7 Jan 2010 | 12:27 am Food inflation softens to 18.22%Food inflation softened to 18.22 per cent as of the week ended December 26, although potato and pulses continued to cost high.Source: India Business News | Business News - Times of India | 7 Jan 2010 | 12:11 am Nano will certainly be brought to Africa: Tata Africa head - Economic Times
Source: Business - Google News | 7 Jan 2010 | 12:05 am Samsung teams up with DreamWorks, Technicolor for 3-DLas Vegas: South Korea’s Samsung teamed up with DreamWorks Animation, maker of Shrek, Kung Fu Panda and other hit movies, and Technicolor on Wednesday in a push to bring more 3-D entertainment into the home. Samsung, DreamWorks and Technicolor announced at the Consumer Electronics Show (CES) here that they have formed a “global strategic alliance for the delivery of a complete 3-D home entertainment solution in 2010.” They said they were joining forces to “accelerate the worldwide deployment of in-home 3-D to mainstream consumers.” Samsung is one of a number of major electronics manufacturers displaying 3-D high-definition television sets at CES this year as the industry seeks to expand 3-D viewing beyond the movie screen and into the living room. Growth of 3-D has been slow because of a lack of programming, the need to wear special glasses and the higher prices of 3-D sets, but last month’s release of science fiction blockbuster Avatar, a 3-D film by Titanic director James Cameron, has renewed interest in the medium. US sports broadcaster ESPN announced on Tuesday that it will show some World Cup soccer matches live from South Africa in 3-D and Japan’s Sony is partnering with Discovery and IMAX to launch a 3-D TV network in the United States. “We’re forging the future of entertainment in what we like to call a new dimension,” Tim Baxter, president of the consumer electronics division at Samsung Electronics America, said at a Samsung press conference. He said Samsung, which came out with its first 3-D HDTV in 2007, would be marketing a “complete 3-D entertainment offering for the home” featuring a 3-D television set, 3-D Blu-Ray player and “stylish active shutter 3-D glasses.” “3-D has had a bumpy ride since the first 3-D film back in 1922,” Baxter said. “Today though technology has improved dramatically and it’s clear people love watching 3-D in theaters. “Consumers are now expecting the same 3-D experience that they are getting in the theater in their home,” Baxter said, adding that the new Samsung products deliver “a complete cinema quality 3-D movie experience at home.” DreamWorks Animation chief executive Jeffrey Katzenberg, in an appearance at the Samsung event at CES, said 3-D was no longer a “novelty” but a “fantastic creative and business opportunity.” “Today because of 3-D we stand at a watershed moment for the entire movie industry,” Katzenberg said. “It’s an incredible artistic tool for filmmakers and it has proven to be very big business.” Source: LatestNews-Home - Livemint.com | 7 Jan 2010 | 12:05 am Samsung teams up with DreamWorks, Technicolor for 3-DLas Vegas: South Korea’s Samsung teamed up with DreamWorks Animation, maker of Shrek, Kung Fu Panda and other hit movies, and Technicolor on Wednesday in a push to bring more 3-D entertainment into the home. Samsung, DreamWorks and Technicolor announced at the Consumer Electronics Show (CES) here that they have formed a “global strategic alliance for the delivery of a complete 3-D home entertainment solution in 2010.” They said they were joining forces to “accelerate the worldwide deployment of in-home 3-D to mainstream consumers.” Samsung is one of a number of major electronics manufacturers displaying 3-D high-definition television sets at CES this year as the industry seeks to expand 3-D viewing beyond the movie screen and into the living room. Growth of 3-D has been slow because of a lack of programming, the need to wear special glasses and the higher prices of 3-D sets, but last month’s release of science fiction blockbuster Avatar, a 3-D film by Titanic director James Cameron, has renewed interest in the medium. US sports broadcaster ESPN announced on Tuesday that it will show some World Cup soccer matches live from South Africa in 3-D and Japan’s Sony is partnering with Discovery and IMAX to launch a 3-D TV network in the United States. “We’re forging the future of entertainment in what we like to call a new dimension,” Tim Baxter, president of the consumer electronics division at Samsung Electronics America, said at a Samsung press conference. He said Samsung, which came out with its first 3-D HDTV in 2007, would be marketing a “complete 3-D entertainment offering for the home” featuring a 3-D television set, 3-D Blu-Ray player and “stylish active shutter 3-D glasses.” “3-D has had a bumpy ride since the first 3-D film back in 1922,” Baxter said. “Today though technology has improved dramatically and it’s clear people love watching 3-D in theaters. “Consumers are now expecting the same 3-D experience that they are getting in the theater in their home,” Baxter said, adding that the new Samsung products deliver “a complete cinema quality 3-D movie experience at home.” DreamWorks Animation chief executive Jeffrey Katzenberg, in an appearance at the Samsung event at CES, said 3-D was no longer a “novelty” but a “fantastic creative and business opportunity.” “Today because of 3-D we stand at a watershed moment for the entire movie industry,” Katzenberg said. “It’s an incredible artistic tool for filmmakers and it has proven to be very big business.” Source: Tech News - Livemint.com | 7 Jan 2010 | 12:05 am India seen rising as key small-car production baseNew Delhi: As global automakers boost their presence in the thriving Indian market, they will turn the country into a stage for novel experiments in lowering production costs to levels not seen before. Indian customers’ unmatched sensitivity to pricing has meant the market has been dominated for nearly 30 years by Maruti Suzuki India Ltd. The unit of Japan’s Suzuki Motor Corp has been able to build $5,000 cars such as the Maruti800 hatchback by using old, fully depreciated equipment provided by its parent in the 1980s. Also Read | Delhi Auto Expo (Full Coverage) Tata Motors took the low-cost theme to the next level with the release last year of the $2,000 Nano, which has achieved only modest success so far. While the 10 new compact cars launched at the Delhi auto show this week will not be matching that level of pricing, rivals are seeking to inch closer.  Models pose near the Toyota concept car Etios at the 10th Auto Expo in New Delhi. Gurinder Osan / AP Japanese automakers, for one, will enter uncharted territory by expanding parts procurement to Indian suppliers for goods such as sheet steel normally imported from Japan. “The key to lowering costs was to look for locally available materials,” said Yoshinori Noritake, chief engineer of Toyota Motor’s Etios family car, one of the highlights of the Auto Expo this week. The Etios is expected to be the cheapest offering in Toyota’s global line-up when it goes on sale in late 2010 in India, with parts sourced from suppliers aligned with Maruti Suzuki and Tata Motors, such as Tata Steel, Noritake said. Toyota said it has not set a price for the Etios. But most expect it to compete head-on with Honda Motor’s hatchback based on the New Small Concept also unveiled at the auto show and which Honda said would cost less than Rs5,00,000 ($10,990). From India to World  Bollywood actor Shahrukh Khan gestures as he poses at a preview of the Hyundai i10 Electric car at the 10th Auto Expo in New Delhi. Gurinder Osan / AP The need for big volumes to lower per-unit costs means that some, including General Motors and Nissan Motor, will use India as an export base for their tiny cars, joining market leaders Maruti Suzuki and Hyundai Motor. GM, which generated buzz at the Delhi show with an aggressive sticker price of Rs3,43,000 ($7,111) for the Chevrolet Beat, is earmarking one-fifth of the car’s production for exports. “The Beat can be a real game changer in the Indian mini-car segment,” Karl Slym, chief of General Motors India said at the launch. GM India expects a 50% rise in sales this year, with production of the Beat due to start at the end of 2010. Nissan, for its part, is due to start producing a new compact car at its first Indian factory in May, supplying it to more than 100 countries. Export volumes will start at 110,000 units in 2011 -- more than what Honda will make after 12 years of producing cars in India. “We want to raise this to 180,000 units in the near future,” Nissan Motor India CEO Kiminobu Tokuyama told Reuters.  A model poses next to a modified Cheverlot Cruze car at the 10th Auto Expo in New Delhi. Gurinder Osan / AP Despite being a newcomer to India, Japan’s No.3 automaker will use 97 Indian suppliers covering 85% of the car’s parts, Tokuyama said. Germany’s Volkswagen, which began production of the Polo hatchback at a new factory near Mumbai last month, also plans to leverage its recent comprehensive tie-up with Suzuki Motor to share components with Maruti Suzuki. The Polo will start with 50% local content, which Volkswagen plans to raise to 75-80% in two to three years. New Territory Unlike its Japanese rivals, Honda has no plans to export its compact car, code-named 2CV. A variant of the car will be produced and sold in Thailand, also in 2011, where Honda will use its ample capacity to export to neighbouring countries. But Honda will embark on a different kind of experiment. With the addition of the 2CV, Honda’s 100,000-units-a-year factory near Delhi will produce a fifth model on its sole assembly line -- a first for Honda, known for being among the most flexible manufacturers in the industry. “Going from four to five is a huge step, and impossibly difficult if you’re familiar with the production process,” said Yuji Matsuzaki, director of manufacturing at Honda’s local unit. “In that sense, India is going to be the stage for a very important undertaking.” Source: Home - Livemint.com | 7 Jan 2010 | 12:04 am Rupee breaches 46 on higher arbitrageThe rupee rallied against the dollar and breached the 46-level on Wednesday on the back of continued dollar inflows and arbitrage opportunities opening up between the domestic spot and non-deliverable forward (NDF)Source: Business Line - Home Page | 7 Jan 2010 | 12:00 am Govt mulls two-rate personal tax structureIn the run-up to Budget 2010-11, the Finance Ministry is mulling a reduction in the number of personal incometax rates from the current three to two.Source: Business Line - Home Page | 7 Jan 2010 | 12:00 am Coming soon, designer Nano for Rs 1 croreIt was touted as the people's car, thanks to its much-publicised price of Rs 1 lakh. But, now, the Tata Nano is set to enter the luxury league with a price tag of Rs 1Source: Business Line - Home Page | 7 Jan 2010 | 12:00 am Aptech (Rs 203.7): BuyWe recommend buying the stock of Aptech from a short-term perspective. It is evident from the charts of the stock that it encountered key resistance at around Rs 296 in September 2009 and began to decline. The stock's downtrend got accelerated inSource: Business Line - Home Page | 7 Jan 2010 | 12:00 am Day Trading GuideWe recommend a buy in DLF with stop at Rs 370. Fresh long position can be initiated only if ICICI Bank moves above Rs 907 and SBI advances above Rs 2320 with tight stop-loss. Initiate fresh short position if Infosys slips below Rs 2570 andSource: Business Line - Home Page | 7 Jan 2010 | 12:00 am Sugar stocks' valuations soar with retail priceProspects of the sugar company stocks listed on the BSE brightened on the back of expectations that the retail prices of the sweetener would soon soar to a new high of Rs 50 a kg from Rs 40-45 aSource: Business Line - Home Page | 7 Jan 2010 | 12:00 am Centre blames UP for surge in sugar priceThe Centre has blamed the current surge in domestic sugar prices on the Uttar Pradesh (UP) Government's move to block entry of imported raws into theSource: Business Line - Home Page | 7 Jan 2010 | 12:00 am Investors harp on NSE's ‘super-normal' profitsJust a fortnight after the SEBI board discussed the issue of conflict of interest in the working of stock exchanges, an organisation for investor protection empanelled with the regulator has highlighted what it calls the monopolistic tendenciesSource: Business Line - Home Page | 7 Jan 2010 | 12:00 am Standardised document in the works for sale of NPAsIn order to remove hitches associated with the assets sale process, asset reconstruction companies and banks have embarked on a joint exercise to evolve a standardised document that will eliminate ambiguities pertaining to the conveyance ofSource: Business Line - Home Page | 7 Jan 2010 | 12:00 am Concept rIII, a source of pride for Maruti SuzukiHe is lean, lanky, bearded with a receding hairline and comes across as affable. He was obviously pleased with the reaction that the baby his team had produced got from the media and the visitors to the pavilion. After all, the baby – theSource: Business Line - Home Page | 7 Jan 2010 | 12:00 am Sensex sheds 40 pts in early trade on profit takingThe Bombay Stock Exchange benchmark Sensex on Thursday fell by over 40 points, or 0.23 per cent, in early trade as investors sold shares to book profit after recent gains.Source: HindustanTimes.com - Top Business News Headlines | 6 Jan 2010 | 10:44 pm Microsoft to unveil HP tablet PC at gadget showMicrosoft CEO Steve Ballmer will demonstrate a new touch-screen, tablet-style computer from Hewlett-Packard Co. on Wednesday night, the first of several such devices expected to be unveiled this month. The tablet, also known as a slate, a one-piece portable computer without a physical keyboard, will be one of several new PCs Ballmer will show off as he delivers Microsoft Corp.’s customary keynote speech on the eve of the International Consumer Electronics Show in Las Vegas, the company said in interviews Wednesday. Tablet-style computers that run Windows have been available for a decade, but HP’s new machine is bound to draw extra attention thanks to expectations that Apple Inc. will launch a similar device later this month. Apple, notoriously secretive about upcoming products, has not commented on the matter. But given the iPhone’s success, which propelled competitors to come out with copycat touch-screen phones and centralized “app” stores to sell add-on software, all eyes are on Apple to define what a slate or tablet-style computer should look like and how it will be used. Microsoft is also expected to announce that Natal, new technology that lets video game players control the action by moving their whole bodies instead of using a joystick, will go on sale for the Xbox console in time for this year’s holiday shopping season. Robbie Bach, president of Microsoft’s entertainment and devices division, says devices built for touch, gestures and other so-called natural user interfaces will become much more mainstream in the next few years. While Microsoft co-founder Bill Gates has for years said the same thing, Bach says computer science and hardware technology are now sophisticated enough to support Gates’ and other visionaries’ big ideas. Bach is expected to highlight some of the big-name Xbox 360 video games that will launch in 2010, including the next installment of the popular “Halo” franchise. More than 39 million people now own Xbox 360 consoles. Microsoft also plans to announce a new search distribution deal with HP that will make the company’s Bing search site and MSN.com content portal the default search engine and Web home page on new HP computers sold in 42 countries. The software maker has signed similar deals in the past, including one with HP in 2008 that made Live Search, Bing’s predecessor technology, the default on computers sold in the US and Canada. People who buy such computers can still change their preferred search engine to something else. The Microsoft executives are also expected to announce a new version of Mediaroom, its technology that delivers TV over the Internet on such services as AT&T Inc.’s U-verse system. The newest version of Mediaroom will let subscribers watch live TV and video-on-demand on Windows computers and phones and through Xbox 360 consoles, in addition to a set-top box. It will work over regular broadband, not just special fiber connections. Source: Home - Livemint.com | 6 Jan 2010 | 10:44 pm Microsoft to unveil HP tablet PC at gadget showMicrosoft CEO Steve Ballmer will demonstrate a new touch-screen, tablet-style computer from Hewlett-Packard Co. on Wednesday night, the first of several such devices expected to be unveiled this month. The tablet, also known as a slate, a one-piece portable computer without a physical keyboard, will be one of several new PCs Ballmer will show off as he delivers Microsoft Corp.’s customary keynote speech on the eve of the International Consumer Electronics Show in Las Vegas, the company said in interviews Wednesday. Tablet-style computers that run Windows have been available for a decade, but HP’s new machine is bound to draw extra attention thanks to expectations that Apple Inc. will launch a similar device later this month. Apple, notoriously secretive about upcoming products, has not commented on the matter. But given the iPhone’s success, which propelled competitors to come out with copycat touch-screen phones and centralized “app” stores to sell add-on software, all eyes are on Apple to define what a slate or tablet-style computer should look like and how it will be used. Microsoft is also expected to announce that Natal, new technology that lets video game players control the action by moving their whole bodies instead of using a joystick, will go on sale for the Xbox console in time for this year’s holiday shopping season. Robbie Bach, president of Microsoft’s entertainment and devices division, says devices built for touch, gestures and other so-called natural user interfaces will become much more mainstream in the next few years. While Microsoft co-founder Bill Gates has for years said the same thing, Bach says computer science and hardware technology are now sophisticated enough to support Gates’ and other visionaries’ big ideas. Bach is expected to highlight some of the big-name Xbox 360 video games that will launch in 2010, including the next installment of the popular “Halo” franchise. More than 39 million people now own Xbox 360 consoles. Microsoft also plans to announce a new search distribution deal with HP that will make the company’s Bing search site and MSN.com content portal the default search engine and Web home page on new HP computers sold in 42 countries. The software maker has signed similar deals in the past, including one with HP in 2008 that made Live Search, Bing’s predecessor technology, the default on computers sold in the US and Canada. People who buy such computers can still change their preferred search engine to something else. The Microsoft executives are also expected to announce a new version of Mediaroom, its technology that delivers TV over the Internet on such services as AT&T Inc.’s U-verse system. The newest version of Mediaroom will let subscribers watch live TV and video-on-demand on Windows computers and phones and through Xbox 360 consoles, in addition to a set-top box. It will work over regular broadband, not just special fiber connections. Source: Tech News - Livemint.com | 6 Jan 2010 | 10:44 pm 46% drop in Indian students application: AustraliaMelbourne: Hit by international student attack crisis, Australia has experienced a huge decline by 46% of Indians applying for student visas in the country last year, country’s Immigration Department has said. The total number of student visa applications around the world also dropped by over 20%. Department’s spokesman Sandy Logan said racism and violence issue against foreign students were not mainly to be blamed for the slide in visa applications. It was also due to stricter and tougher scrutiny of applications and the immigration department has been rejecting a higher number of applications from India, he said. “It is correct to say that there has been a decline in the number of student visa applications coming from India,” he said. There’s also been a decline though in the number of student visa applications that have been withdrawn by those applicants. In August last year the government announced strengthened checking for high-risk segments of the student visa programme. “It was a targeted series of checks as a result of analysis which suggested the risk was most significant in India, Mauritius, Nepal, Brazil, Zimbabwe and Pakistan. Once integrity checking is taken into account a student visa application has been refused,” he said. Logan further said, “We are aware that there has been an effect across the board as a result of the global financial crisis,” he said. “But we were also expecting that with greater and more stringent integrity checks, the student visa application cohort from a number of these countries will drop.” Meanwhile, founder and director of International Education Consultants Australia, Kathryn Richardson, said adverse publicity of violent incidents involving foreign students in Australia cannot be ruled out as a factor. “Of course you would expect there would be some sort of response to that. I don’t fear, at this stage, that it is something that will be in the long run a dramatic and constant change.” “But if the numbers fall off this year due partly to publicity or bad publicity, it probably wouldn’t be surprising,” Logan said. Source: LatestNews-Home - Livemint.com | 6 Jan 2010 | 10:42 pm Rupee hits 15 month high gains 10 paise against dollarThe rupee today appreciated by 10 paise to hit a 15-month high of 45.74 a dollar in early trade, tracking other firming Asian currencies.Source: HindustanTimes.com - Top Business News Headlines | 6 Jan 2010 | 10:39 pm Samsung unveils e-reader, partnering with GoogleLas Vegas: South Korean electronics giant Samsung jumped into the increasingly crowded electronic book reader market Wednesday, unveiling its first devices and a partnership with Google Books. Samsung took the wraps off two wireless e-readers at the annual Consumer Electronics Show (CES) in Las Vegas, the “E6” with a six-inch (15.2-centimeter) screen and the “E101” with a 10-inch (25.4-centimeter) display. Samsung touted its new black-and-white display e-readers for their ability to allow users to write directly on the screen, making annotations with an electromagnetic resonance stylus pen. “It’s not just a reading device,” said Doug Albregts, vice president of Samsung’s information technology division. “It’s more like paper with a handwriting feature in that it allows you to write directly on the display.” Users of the Samsung devices can “write and share wirelessly and truly collaborate,” Albregts said. Google global director of communications Gabriel Stricker made a video appearance at the Samsung event to announce that the Web giant, which is compiling a vast online library of books, would be a partner with Samsung. “We want people to find these books anywhere, anytime,” Stricker said, calling Samsung a “great match for us at Google.” “We’re so excited to make our million-plus public domain books available,” he said. Samsung said the E6 will cost $399 while the E101 will cost $699 and will be available in early 2010. The new Samsung devices will go up against Amazon’s popular Kindle and a host of other new devices already on the market, including the Sony Reader, the “and the Cool-er from Britain’s Interead. Samsung is one of a number of a companies unveiling e-readers at CES but the category has been overshadowed lately by reports that consumer electronics star Apple may shortly unveil a tablet computer that may double as an e-book reader. Source: LatestNews-Home - Livemint.com | 6 Jan 2010 | 10:37 pm Samsung unveils e-reader, partnering with GoogleLas Vegas: South Korean electronics giant Samsung jumped into the increasingly crowded electronic book reader market Wednesday, unveiling its first devices and a partnership with Google Books. Samsung took the wraps off two wireless e-readers at the annual Consumer Electronics Show (CES) in Las Vegas, the “E6” with a six-inch (15.2-centimeter) screen and the “E101” with a 10-inch (25.4-centimeter) display. Samsung touted its new black-and-white display e-readers for their ability to allow users to write directly on the screen, making annotations with an electromagnetic resonance stylus pen. “It’s not just a reading device,” said Doug Albregts, vice president of Samsung’s information technology division. “It’s more like paper with a handwriting feature in that it allows you to write directly on the display.” Users of the Samsung devices can “write and share wirelessly and truly collaborate,” Albregts said. Google global director of communications Gabriel Stricker made a video appearance at the Samsung event to announce that the Web giant, which is compiling a vast online library of books, would be a partner with Samsung. “We want people to find these books anywhere, anytime,” Stricker said, calling Samsung a “great match for us at Google.” “We’re so excited to make our million-plus public domain books available,” he said. Samsung said the E6 will cost $399 while the E101 will cost $699 and will be available in early 2010. The new Samsung devices will go up against Amazon’s popular Kindle and a host of other new devices already on the market, including the Sony Reader, the “and the Cool-er from Britain’s Interead. Samsung is one of a number of a companies unveiling e-readers at CES but the category has been overshadowed lately by reports that consumer electronics star Apple may shortly unveil a tablet computer that may double as an e-book reader. Source: Tech News - Livemint.com | 6 Jan 2010 | 10:37 pm BSE Sensex meets resistance after 4-session rallyMUMBAI (Reuters) – The BSE Sensex was trading 0.2 percent lower on Thursday as resistance crept in after they scaled 22-month peak in the previous session and on muted Asian cues.Source: Reuters: Money News | 6 Jan 2010 | 10:28 pm Business travel lobby opposes Delta and JAL tiesTokyo: Delta Airlines Inc would not get regulatory approval for close business ties with Japan Airlines and an alliance between the two carriers would lead to higher fares, a lobby for corporate travel buyers said. Even as JAL flirts with bankruptcy, Asia’s largest carrier by revenues is being wooed by Delta and American Airlines with offers of investment and close ties under an “open skies” treaty recently signed between the United States and Japan. JAL is currently partners with American in the Oneworld alliance. A defection to Delta and the Skyteam group would create a virtual duopoly on US-Japan routes, giving SkyTeam and the rival Star Alliance combined control over 90% of that market. “We are taking a strong stance against a Delta/JAL tie-up because it will effectively reduce the number of competitor alliances from three to two,” Kevin Mitchell, chairman of the Business Travel Coalition (BTC) told a news conference in Tokyo. Mitchell said an alliance between Delta and JAL would increase business travel expenses for the 300 or so corporations it represents by limiting competition on flights between the United States, Japan and the rest of Asia. Delta and American are both eager to invest in JAL to gain access to its network across fast-growing Asian markets and to establish a stronger foothold in Japan following the expansion of Tokyo’s Haneda airport in 2010. They have also said they would seek anti-trust immunity under the “open skies” treaty to liberalise air travel between the US and Japan. Such partnerships would allow airlines to work closely on pricing and scheduling to boost revenues and cut costs. Mitchell said it is almost certain that US regulators would not approve immunity for Delta and JAL as they alone would control more than 60% of the US-Japan market. This echoes American’s argument against Delta and JAL. Delta has argued that it would be able to get approval. “The only advantage in this open skies agreement for JAL is if it successfully achieves anti-trust immunity. Going with Oneworld virtually assures that, going with Delta almost guarantees it will not happen,” Mitchell said. Mitchell said the BTC has influenced several regulatory decisions in the past, including its role in fighting a distribution scheme pushed by American Airlines in 2006. Mitchell said he has not been paid any fee from American and is not on retainer for the airline. If Delta and JAL were granted anti-trust immunity, the BTC would work with other advocacy groups to petition the US Congress and lobby the Department of Justice to reverse the decision, Mitchell said. US carriers United Airlines and Continental Airlines Inc and Japan’s All Nippon Airways Co Ltd, partners in the Star Alliance grouping of airlines, have also said they would apply for antitrust immunity. Source: LatestNews-Home - Livemint.com | 6 Jan 2010 | 10:27 pm Business travel lobby opposes Delta and JAL tiesTokyo: Delta Airlines Inc would not get regulatory approval for close business ties with Japan Airlines and an alliance between the two carriers would lead to higher fares, a lobby for corporate travel buyers said. Even as JAL flirts with bankruptcy, Asia’s largest carrier by revenues is being wooed by Delta and American Airlines with offers of investment and close ties under an “open skies” treaty recently signed between the United States and Japan. JAL is currently partners with American in the Oneworld alliance. A defection to Delta and the Skyteam group would create a virtual duopoly on US-Japan routes, giving SkyTeam and the rival Star Alliance combined control over 90% of that market. “We are taking a strong stance against a Delta/JAL tie-up because it will effectively reduce the number of competitor alliances from three to two,” Kevin Mitchell, chairman of the Business Travel Coalition (BTC) told a news conference in Tokyo. Mitchell said an alliance between Delta and JAL would increase business travel expenses for the 300 or so corporations it represents by limiting competition on flights between the United States, Japan and the rest of Asia. Delta and American are both eager to invest in JAL to gain access to its network across fast-growing Asian markets and to establish a stronger foothold in Japan following the expansion of Tokyo’s Haneda airport in 2010. They have also said they would seek anti-trust immunity under the “open skies” treaty to liberalise air travel between the US and Japan. Such partnerships would allow airlines to work closely on pricing and scheduling to boost revenues and cut costs. Mitchell said it is almost certain that US regulators would not approve immunity for Delta and JAL as they alone would control more than 60% of the US-Japan market. This echoes American’s argument against Delta and JAL. Delta has argued that it would be able to get approval. “The only advantage in this open skies agreement for JAL is if it successfully achieves anti-trust immunity. Going with Oneworld virtually assures that, going with Delta almost guarantees it will not happen,” Mitchell said. Mitchell said the BTC has influenced several regulatory decisions in the past, including its role in fighting a distribution scheme pushed by American Airlines in 2006. Mitchell said he has not been paid any fee from American and is not on retainer for the airline. If Delta and JAL were granted anti-trust immunity, the BTC would work with other advocacy groups to petition the US Congress and lobby the Department of Justice to reverse the decision, Mitchell said. US carriers United Airlines and Continental Airlines Inc and Japan’s All Nippon Airways Co Ltd, partners in the Star Alliance grouping of airlines, have also said they would apply for antitrust immunity. Source: World Business - Livemint.com | 6 Jan 2010 | 10:27 pm Indian shipyards face bleak 2010; Bharati promisingMUMBAI (Reuters) - Indian shipbuilders are heading for for another bleak year in 2010 amidst weak demand and prospects of order cancellations as the global economy struggles to emerge from a slowdown, analysts said.Source: Reuters: Money News | 6 Jan 2010 | 10:26 pm Oil below $83 after 10-day rise on US stock buildSingapore: Oil eased below $83 a barrel on Thursday after settling near a 15-month high a day earlier, as data showing a surprise build in US crude stocks outweighed expectations for robust heating fuel demand amid a cold spell. Crude posted its 10th straight day of gains on Wednesday, as the dollar weakened and buoyed by forecasts of a bigger inventory drawdown next week due to freezing temperatures across much of the United States. But any demand recovery in the world’s top energy user appears patchy so far. US Energy Information Administration (EIA) data released on Wednesday showed an unexpected 1.3-million-barrel increase in crude oil stockpiles last week, while stockpiles of distillates, including heating oil, fell by a smaller-than-projected 300,000 barrels. US crude for February delivery was down 41 cents to $82.77 a barrel by 8:00am, after settling up $1.41 a day earlier at $83.18, its highest close since 9 October, 2008. London Brent crude fell 38 cents to $81.51. “On the charts, oil looks quite bullish - the next target appears to be $89-$90 -- and it has got a lot to do with the cold weather, which is set to continue for a while,” said Michelle Kwek, analyst at Informa Global Markets in Singapore. Reflecting the boost from icy temperatures, the NYMEX February heating oil contract remained at 15-month highs. It settled up 0.41% at $2.2032 a gallon on Wednesday, the highest close since finishing at $2.2099 on 20 October, 2008. Arctic winds have pushed down into the Northern Hemisphere, freezing Europe and parts of Asia, and boosting demand for heating in the United States by some 21% above normal. Energy demand has also surged, especially in Britain and France, while heavy snow and record low temperatures in China prompted cities across eastern and central parts of the country to begin rationing power. “But this price rally is driven more by sentiment and the weak dollar, rather than fundamentals, as inventories are still pretty high. This is largely due to the push by funds into higher yielding commodity assets at the start of the year,” Kwek added. The greenback was on the defensive on Thursday after minutes from the Federal Reserve’s latest policy meeting suggested the possibility of more stimulus measures for the US economy. Weekly US jobless claims, due later at 7:00pm, as well as December non-farm payrolls data, due on Friday, will also shape the outlook for the recovery of the world’s largest economy, interest rates, and the dollar’s direction. Economists forecast a total of 447,000 new filings for first-time claims for jobless benefits in the week ended 2 January, compared with 432,000 in the prior week. Price support also came from the continuing talks between Belarus and Russia on Wednesday over the supply of Russian oil for 2010. Belarus earlier insisted Russia should continue billions of dollars in oil subsidies, potentially complicating talks aimed at resolving a dispute over a pipeline that brings 10% of Europe’s crude to market. Source: Home - Livemint.com | 6 Jan 2010 | 10:24 pm A BMW smaller than NanoAt this vintage car pavilion at the Auto Expo, a trip down memory lane can be as exciting as gawking at the new models the car majors are planning to launch.Source: India Business News | Business News - Times of India | 6 Jan 2010 | 10:07 pm Sensex sheds 40 points in early trade on profit-takingThe Bombay Stock Exchange benchmark Sensex on Thursday fell by over 40 points, or 0.23 per cent, in early trade as investors sold shares to book profit after recent gains.Source: India Business News | Business News - Times of India | 6 Jan 2010 | 9:28 pm US to get first look at Nano next weekTata Nano, the world's cheapest car, is coming to Detroit and will be on display for the US audience for the first time next week.Source: HindustanTimes.com - Top Business News Headlines | 6 Jan 2010 | 7:57 pm Tata to take Nano to DetroitTata is bringing its Nano minicar to Detroit to show the Motor City what the world's cheapest car looks like, the automaker has said.Source: India Business News | Business News - Times of India | 6 Jan 2010 | 4:11 pm Hero Honda plans to make nano of bikesThe idea is to give to the market something much more economical, yet a motorcycle. This should be able to carry two people, perform like a motorcycle ... It has to be done with fresh minds. Perhaps, we will have to look at not using current types of raw materials, or the manufacturing processes.Source: India Business News | Business News - Times of India | 6 Jan 2010 | 12:50 pm Glamour guns cruise in with raw appealAuto Expo 2010 are showcasing some of these exciting speed machines ranging from Suzukis 1340cc Hayabusa to Yamahas 1670cc MT01 to Hondas CB1000R.Source: India Business News | Business News - Times of India | 6 Jan 2010 | 12:46 pm Rs 1-lakh car to get Rs 1-crore designer touchThe Rs 1-lakh wonder Nano will soon enter the elite league thanks to auto design firm DC, which on Wednesday said it will unveil redesigned version of the worlds cheapest car within the next two months with premium price tag of Rs 1 crore.Source: India Business News | Business News - Times of India | 6 Jan 2010 | 12:41 pm 'Real estate not long-term bet'The news comes at a time when most real estate players are claiming that they have turned the corner with many firms lining up with initial public offers (IPOs) in the coming months.Source: India Business News | Business News - Times of India | 6 Jan 2010 | 12:38 pm Biscuit, soft drink cos feel sugar price pinchIts not a sweet beginning to the new year. Sugar prices have touched a record high of over Rs 4,200 per quintal in certain wholesale markets, building input cost pressures for the makers of biscuits, soft drinks, confectionery and other food products.Source: India Business News | Business News - Times of India | 6 Jan 2010 | 12:37 pm Finance ministry seeks Idiot's tip to tackle Budget bluesAs the Ministry of Finance gets into the Budget mode, its officials perhaps want to tell themselves, All is well. So, they have none other than Aamir Khan, alias Rancho of recent Bollywood blockbuster 3 Idiots, talking to them this weekend on Cinema and Society.Source: Business Standard | Front Page Headlines | 6 Jan 2010 | 12:35 pm China auto biz enters IndiaChinese auto component manufacturers are quietly making inroads into India. Over 100-odd companies, ranging from the largest truck engine manufacturer FAW Group, to medium-sized players like gear-box maker Weichai Power, are at the 10th Auto Expo in Delhi showcasing their products to the local commercial vehicle manufacturers.Source: Business Standard | Front Page Headlines | 6 Jan 2010 | 12:33 pm Stock lending tenure raised to one yearIn a move which could infuse more liquidity in the markets and make it more dynamic, the Securities and Exchange Board of India (Sebi) on Wednesday extended the tenure of contracts in securities lending and borrowing (SLB) to 12 months from one month.Source: Business Standard | Front Page Headlines | 6 Jan 2010 | 12:32 pm Govt gets nod to offload 10% in BSNLMeet chaired by PM concedes suggestion for immediate sale.Source: Business Standard | Front Page Headlines | 6 Jan 2010 | 12:30 pm Of goosebumps and quick bucksModels from different countries and female college students trying to earn quick money are attracting more eyeballs than the vehicles at the 10th Auto Expo, reports Joyeeta Ghosh.Source: HindustanTimes.com - Top Business News Headlines | 6 Jan 2010 | 12:21 pm Hero Honda looking at a fourth factoryThe country's largest two wheeler manufacturer Hero Honda today said it is looking to set up its fourth manufacturing plant in the country admitting that the high demand for its products is forcing it to expand capacity earlier that it has planned reports Sumant Banerji.Source: HindustanTimes.com - Top Business News Headlines | 6 Jan 2010 | 11:16 am Customisation is the wayAshok Leyland launched its hybrid bus and more powerful U-trucks at the ongoing Auto Expo. R Seshasayee, managing director, Ashok Leyland spoke to HT on the company’s plans. Excerpts.Source: HindustanTimes.com - Top Business News Headlines | 6 Jan 2010 | 10:30 am The timing for trucks is idealMahindra and Mahindra, so far renowned for its SUVs, has forayed into the truck segment. Group Vice Chairman Anand Mahindra tells Hindustan Times that the timing could not have been better, reports Sandeep Singh.Source: HindustanTimes.com - Top Business News Headlines | 6 Jan 2010 | 10:28 am Toyota is tough challengerPreparing for a tough battle to maintain the market share and dominance in the small car segment, Maruti Suzuki is looking to open more dealers in the cities and entering the talukas to open small dealerships reports Sumant Banerji and Sandeep Singh.Source: HindustanTimes.com - Top Business News Headlines | 6 Jan 2010 | 10:05 am Kraft reveals takeover snub by Cadbury shareholdersLondon: Kraft Foods said on Wednesday that only 1.5% of shareholders in British confectioner Cadbury had accepted the US group’s hostile takeover approach. The result comes as no surprise as the Cadbury board has repeatedly rejected Kraft’s cash and shares offer worth about £10.5 billion (€11.7 billion, $16.8 billion). Kraft Foods said in a statement published on Wednesday that it had received valid acceptances “representing approximately 1.52% of the existing issued share capital of Cadbury”. Late last year, Kraft offered to buy Cadbury for 300 pence in cash and 0.2589 new Kraft Foods shares — an offer deemed “derisory” by the British company’s board. In a bid to win over Cadbury, Kraft sweetened its hostile offer on Tuesday by proposing a bigger cash component — but faced a fresh rejection from the British firm and objections from its largest shareholder. Kraft made its latest move with the sale of its North American pizza division to Swiss rival Nestle for $3.7 billion, enabling the US firm to put more cash behind its struggling bid for the British-based confectioner. In a twist to events, billionaire investor Warren Buffett’s holding company Berkshire Hathaway said that it opposed a plan by Kraft to raise cash needed to buy Cadbury via a new share issue. Kraft is the world’s second-biggest snacks group after Nestle. Cadbury is meanwhile the second largest confectionery company behind Mars. A tie-up between Kraft and Cadbury would merge leading Kraft brands Oreo biscuits and Maxwell House coffee with Cadbury’s Dairy Milk chocolate and Trident chewing gum. Source: World Business - Livemint.com | 6 Jan 2010 | 2:52 am
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