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Mazda and Ford to dissolve China JV: ReportMazda, Ford and China's Chongqing Changan Automobile Co have basically agreed to split their three-way tie-up, Changan Ford Mazda, into two entities.Source: Daily News & Analysis: Money News | 17 Jan 2010 | 3:23 am Jubilant Foodworks IPO opens on Monday - Livemint
Source: Business - Google News | 17 Jan 2010 | 2:51 am Magma Fincorp targeting 20% growth in disbursement in FY10The company, which presently has 151 branches is planning to open 5 new branches this fiscal and 15 in the next.Source: Daily News & Analysis: Money News | 17 Jan 2010 | 2:27 am BMW bets big on luxury car market; to ramp-up dealer networkThe year 2009 has been good for the company when it sold 992 cars in the first quarter itself.Source: Daily News & Analysis: Money News | 17 Jan 2010 | 2:23 am Anil Ambani's VC firm aims to seal 3-6 deals in six monthsThe corporate venture capital firm would focus strongly on clean-tech and energy, defence and aerospace, financial services and media-related firms.Source: Daily News & Analysis: Money News | 17 Jan 2010 | 2:18 am Over 50% consumers will be in mobile banking ambit by 2015Banking regulator, Reserve Bank of India, had recently, hiked the limit of mobile banking transactions from Rs5,000 to Rs50,000.Source: Daily News & Analysis: Money News | 17 Jan 2010 | 2:12 am China asks banks to be cautious on lendingSHANGHAI (Reuters) - China's banking regulator has asked banks to be cautious on their lending strategies this year, as Beijing seeks to avoid high inflation and overheating the world's third-largest economy.Source: Reuters: Money News | 17 Jan 2010 | 2:00 am Mazda and Ford to dissolve China JV - NikkeiTOKYO (Reuters) - Mazda Motor Corp and Ford Motor Co will dissolve their joint venture in China by 2012, a move that would further weaken the tie between the two automakers, Japan's Nikkei business daily reported on Sunday.Source: Reuters: Money News | 17 Jan 2010 | 1:59 am Jubilant Foodworks IPO opens on MondayNew Delhi: The initial public offer of Jubilant Foodworks that runs the fastfood retail chain under the Dominos pizza brand in India will open for subscription from tomorrow. The price band of the initial public offer (IPO), through which the company expects to raise up to Rs329 crore, has been fixed between Rs135 to Rs145 per equity. The issue closes on 20 January. Jubilant Foodworks is hitting the capital market with an issue size of 2.26 crore equity shares of Rs10 each. At the upper end of price band, the offer is valued worth Rs328.72 crore. “Jubilant Foodworks IPO would be an interesting case to watch as it represents the growing fastfood business in India,” said Sudeep Bandyopadhyay, Group president, Finance, Spice Group. The company has already roped in several anchor investors that includes Reliance MF, SBI MF, Blackrock, Canara Robeco MF and Fidelity for a total investment of Rs44.3 crore under its pre-IPO placement. “Retail investors will look at rightly priced IPOs. The credibility of the promoter group and the pricing of the issue are the two most critical factors,” Bandyopadhyay added. Kotak Mahindra Capital Company is acting as the sole book running lead manager to the offer. The IPO comprises a fresh issue of 40 lakh equity shares and an offer for sale of 1.86 crore shares by India Pvt Equity Fund (Mauritius) and Indocean Pizza Holding. Source: LatestNews-Home - Livemint.com | 17 Jan 2010 | 1:45 am Jubilant Foodworks IPO opens on MondayNew Delhi: The initial public offer of Jubilant Foodworks that runs the fastfood retail chain under the Dominos pizza brand in India will open for subscription from tomorrow. The price band of the initial public offer (IPO), through which the company expects to raise up to Rs329 crore, has been fixed between Rs135 to Rs145 per equity. The issue closes on 20 January. Jubilant Foodworks is hitting the capital market with an issue size of 2.26 crore equity shares of Rs10 each. At the upper end of price band, the offer is valued worth Rs328.72 crore. “Jubilant Foodworks IPO would be an interesting case to watch as it represents the growing fastfood business in India,” said Sudeep Bandyopadhyay, Group president, Finance, Spice Group. The company has already roped in several anchor investors that includes Reliance MF, SBI MF, Blackrock, Canara Robeco MF and Fidelity for a total investment of Rs44.3 crore under its pre-IPO placement. “Retail investors will look at rightly priced IPOs. The credibility of the promoter group and the pricing of the issue are the two most critical factors,” Bandyopadhyay added. Kotak Mahindra Capital Company is acting as the sole book running lead manager to the offer. The IPO comprises a fresh issue of 40 lakh equity shares and an offer for sale of 1.86 crore shares by India Pvt Equity Fund (Mauritius) and Indocean Pizza Holding. Source: Home - Livemint.com | 17 Jan 2010 | 1:45 am Gitanjali Group eyes Rs300 crore exports from Hyderabad SEZHyderabad Gems SEZ Ltd also has a training centre for manufacturing jewellery and cutting and polishing of diamonds.Source: Daily News & Analysis: Money News | 17 Jan 2010 | 1:41 am BMW bets big on luxury car market, to ramp up dealership networkMumbai: German luxury car maker BMW plans to ramp up its network across the country by year-end and penetrate into tier II cities, a top company official said. BMW India president Peter Kronschnabl also hoped that with the its December sales figures coming out, the company would emerge as the No. 1 seller of luxury cars in India. The company had sold 992 cars in the first quarter of 2009. The company has 12 dealers in 10 cities and plans to add 10 more in tier II cities like Coimbatore, Jaipur, Ludhiana, Bhubhaneshwar and Lucknow by the end of 2010. It expects each dealer from Tier II locations to contribute about 30-40 cars a year, he said. BMW’s global component sourcing from India is progressing as per plan, Kronschnabl said. “We have identified a couple of partners. In the next stage we will be going for sampling and over the next two years we expect our volumes to pick up,” he said. BMW has already launched four new models this year with three more in the offing. These include the petrol and diesel variants of its top-end sedan 7 series. Source: LatestNews-Home - Livemint.com | 17 Jan 2010 | 1:11 am Google denies leaving China, seeks negotiations - Reuters
Source: Business - Google News | 17 Jan 2010 | 12:29 am Yahoo pulled into Google fracas, Alibaba slams commentsSHANGHAI (Reuters) - Yahoo got pulled into a growing row between China and Google on Saturday, as its Chinese partner slammed Yahoo's statements supporting Google while a source revealed the search giant had stayed silent about cyber-attacks.Source: Reuters: Money News | 17 Jan 2010 | 12:20 am Google denies leaving China, seeks negotiationsSHANGHAI (Reuters) - Google Inc enters a second week of high stakes brinkmanship with China's government, amid speculation the firm has decided to pull out of the world's biggest Internet market over cyber-spying concerns.Source: Reuters: Money News | 17 Jan 2010 | 12:13 am Apple turns up heat in Nokia battle with ITC filingThe two phone giants are in the midst of a major legal battle, which started last October when Nokia charged Apple for using its patented technologies without paying for them.Source: Daily News & Analysis: Money News | 17 Jan 2010 | 12:09 am Japan threatens action on China gas project: ReportTokyo objects to Chinese development of the Chunxiao gas field in seas close to Japan's claimed boundary.Source: Daily News & Analysis: Money News | 17 Jan 2010 | 12:07 am India’s veteran Marxist leader Jyoti Basu diesKolkata: Jyoti Basu, the charismatic Indian Marxist who headed the world’s most electorally successful communist party for two decades, died on Sunday after a long illness, party officials said. “Jyoti Basu is no more with us. He is no more in this world,” Biman Bose, Communist Party of India-Marxist (CPM) state secretary, told reporters. Basu, 95, who was the longest serving chief minister in Indian political history, led the CPM to power in West Bengal in 1977 and ruled the state for an unbroken 23 years. “He was a colossus on the political scene for many decades,” home minister P. Chidambaram said. “He was a great patriot and a great democrat.” Basu died of multiple organ failure in a hospital in Kolkata, capital of West Bengal state. Ill health forced him to step down in 2000. After an inconclusive general election in 1996, he was within a hair’s breadth of becoming prime minister at the head of a centre-left coalition -- a prospect that prompted the headline “‘Red Star Over Delhi" in one national newspaper. But the CPM’s central committee decided not to participate in the government -- a move that Basu later described as a “historic blunder”. The son of a well-off Bengali family, Basu was born in 1914 in Kolkata, which was then Calcutta and the capital of British India. While training to be a lawyer in England in the 1930s, at the time of the Spanish Civil War and the rise of fascism, he was drawn to the communist movement, which he formally joined following his return to India in 1940. After a period of trade union activity, Basu launched his political career when he was elected to the Bengal legislative assembly. When the Communist Party of India split in 1964, Basu became one of the first politburo members of the newly formed CPM and several years later he became deputy chief minister of West Bengal. His more than two-decade reign as chief minister began on 21 June 1977 and will be remembered for rural reforms which included the creation of village councils, and the redistribution of land to peasant farmers. But critics blame him for allowing West Bengal’s economy to stagnate, pointing to his failure to rein in militant trade unions, rejuvenate industry or encourage foreign investment. An unabashed critic of the United States, Basu mischievously changed the address of the US consulate in Kolkata from Harrington Street to Ho Chi Minh Street. A widower, Basu is survived by his son, Chandan, who is an industrialist. Source: Home - Livemint.com | 17 Jan 2010 | 12:04 am New emails show AIG mulled bank payment disclosuresWASHINGTON (Reuters) - The New York Federal Reserve Bank actively worked with bailed out insurer AIG to build a case against disclosing details of AIG's payments to banks just days after the insurer considered making them public, documents released late on Saturday showed.Source: Reuters: Money News | 17 Jan 2010 | 12:00 am PM urges States to spend education funds properlyThe Prime Minister, Dr Manmohan Singh, today reiterated his Government's commitment to make universal access to education one of the cornerstone for inclusiveSource: Business Line - Home Page | 17 Jan 2010 | 12:00 am Floods, protest in AP erode UltraTech net 18%Source: Business Line - Home Page | 17 Jan 2010 | 12:00 am PSU oil refiners on a sticky wicket in Q4The good news for the trio of IndianOil, Hindustan Petroleum Corporation and Bharat Petroleum Corporation is that they will be reporting profits in the third quarter of this fiscal. The bad news is that the fourth quarter is going to be nothingSource: Business Line - Home Page | 17 Jan 2010 | 12:00 am Choppy week ahead for the marketsIn the absence of any trigger to move the market, the Dalal Street is likely to remain lacklustre this week, say analysts. Source: HindustanTimes.com - Top Business News Headlines | 17 Jan 2010 | 12:00 am Definitive dumping duty on bus, truck radial tyres from China, ThailandThe Designated Authority in the Commerce Ministry has recommended the imposition of definitive anti-dumping duty on imported bus and truck radial tyres from China and Thailand, despite a chorus of protests from a group of user industries of tyreSource: Business Line - Home Page | 17 Jan 2010 | 12:00 am Weekly News Round upThe Centre has allowed duty-free import of white sugar without any quantitative cap up to December 31, 2010. So far, only raw sugar could be imported at zero duty up to December 31. This facility was available only till March 31 in the case ofSource: Business Line - Home Page | 17 Jan 2010 | 12:00 am Maruti cars to cost Rs 600-10,000 moreSource: Business Line - Home Page | 17 Jan 2010 | 12:00 am President cautions against unbridled credit expansionThe President, Ms Pratibha Patil, on Saturday urged the Reserve Bank of India to continuously ensure that banks have proper guidelines for riskSource: Business Line - Home Page | 17 Jan 2010 | 12:00 am Commodity stocks offer better returns than commoditiesThere is more money to be made investing in the shares of companies producing a commodity rather than in the commodity itself. That is what an analysis of returns from investing in commodities and stocks of companies underlying these commoditiesSource: Business Line - Home Page | 17 Jan 2010 | 12:00 am Realty crawling back towards recovery E amp YRecession-hit Indian real estate sector is crawling towards recovery with the return of end-users as well as institutional investors in the market, consultancy firm Ernst & Young has said.Source: HindustanTimes.com - Top Business News Headlines | 16 Jan 2010 | 11:39 pm AAI to raise Rs 1 200 cr by FY 10 endBattling a resource crunch, the Airports Authority of India is in the process of raising Rs 1,200 crore by the end of this financial year to meet its financial requirements for developing airports across the country.Source: HindustanTimes.com - Top Business News Headlines | 16 Jan 2010 | 11:37 pm Choppy week ahead for the marketsMumbai: In the absence of any trigger to move the market, the Dalal Street is likely to remain lacklustre this week, say analysts. This would be the third straight week that the market is moving in the sideways zone and marketmen say a break-out on either side of the range is possible. “The market would move in the range of 5,100 to 5,300. Since the market is moving in the same range for the past two weeks, a big move either on the higher or lower side is waiting to happen,” SMC Global vice-president Rajesh Jain said. Marketmen say as the volatility in the market is quite low at present, activity will remain muted till there is a next big trigger. “It seems the market will move in a range till the settlement date or 28 January. A trigger might come from the RBI policy review slated for 29 January,” Bonanza Portfolio assistant vice-president Avinash Gupta said. Over the past week, the Bombay Stock Exchange gained just over 10 points, but its fourth straight weekly gain. On Friday, the 30-share BSE index ended down 0.17% or 30.57 points at 17,554.30. “Market will respond in a big way to the quarterly earnings from companies. Although some hiccups may come if one result is not up to market expectation. It will be mostly stock-specific movement this week,” Gupta noted. The oil sector giant ONGC, third largest software exporter Wipro, private sector mobile operator Bharti Airtel and banking major ICICI Bank are scheduled to report their December quarter earnings this week. However, analysts expect trading to be cautious ahead of the central bank’s policy review slated for 29 January and the Budget on 26 February. They also opine that investors should hold on to their portfolio for the time being and wait for the next big move from the market. Further, with ample liquidity in the US market, traders can expect strong foreign fund flow into the domestic equities to continue for some more time. “As the rupee is appreciating influx of foreign funds will continue. This will keep liquidity in the market intact, which will propel it further,” SMC Global’s Jain said. In the past week, FIIs have put in over Rs 4,100 crore into the domestic equities taking their total investment to Rs 8,191.70 crore so far this year. Source: LatestNews-Home - Livemint.com | 16 Jan 2010 | 11:36 pm RBI likely to hold key rates CMIEThe Reserve Bank could retain the key rates in its forthcoming monetary policy even as inflation has breached the seven-per cent mark in December, much above the central bank's projections, says the economic think-tank CMIE.Source: HindustanTimes.com - Top Business News Headlines | 16 Jan 2010 | 11:23 pm Yahoo pulled into Google fracas, Alibaba slams commentsYahoo knew it had been a target of sophisticated Chinese cyber attacks on US firms before Google alerted the company to them.Source: Daily News & Analysis: Money News | 16 Jan 2010 | 11:20 pm Anil Ambani s VC firm aims to seal 3 6 deals in six monthsAnil Ambani Group's venture capital arm, Reliance Technology Ventures (RTVL) aims to seal 3-6 deals by June including two by end-March, a top company official said.Source: HindustanTimes.com - Top Business News Headlines | 16 Jan 2010 | 11:20 pm Pune most promising for hiring prospects, Delhi disappointsNew Delhi: Most cities in the country have seen a considerable improvement in the hiring outlook, with Pune showing the highest rise for the January to March period in 2010, says a survey. Delhi has been found to be the most disappointing as the city witnessed the steepest fall in the employment outlook index for the three months ending March, according to the staffing firm TeamLease. The TeamLease survey for the January-March period found that there had been an increase in the ‘Employment Outlook´ index of all cities surveyed, except Delhi, Mumbai, Hyderabad and Ahmedabad. “Pune has seen the highest jump, by 50 points, when it comes to employment outlook and stands at 70 points,” it said. The biggest contributors to the employment growth in the Maharashtra city have been IT and IT-enabled services. In addition, the business outlook of companies there has seen a jump of 63 points, the highest among the cities, and currently stands at 77 points. The employment outlook index for Delhi saw the steepest decline by as much as 24 points and currently stands at 35 points. The index focuses on the employment growth potential and hiring forecasts in relation to the location and company profiles. Ahmedabad had the lowest attrition rate in the last three months as well as in the last one year. In the past three months as well as the last one year, Hyderabad, Kolkata and Delhi had the highest attrition rates (people leaving companies) compared to other cities, the survey revealed. Other cities which saw an increase in hiring outlook include Bangalore, Kolkata and Chennai, the latest TeamLease Employment Outlook report said. Financial services, infrastructure and healthcare were the biggest contributors to employment growth in Bangalore, Kolkata and Chennai respectively. “Hiring sentiments have marginally improved this quarter, in line with the industry’s positive outlook. Our estimates show that there would be a leap of faith during this current quarter and trends will not just hold out, they will be bolder and result in higher employment gains,” TeamLease Services vice president Rajesh AR said. Overall, the employment outlook Index for the country as a whole (for January-March 2010) stands at 47 index points, which is one per cent higher than the previous quarter. Source: LatestNews-Home - Livemint.com | 16 Jan 2010 | 11:09 pm FM under pressure to contain deficit next fiscalNew Delhi: The Planning Commission has said that the finance ministry would be under some pressure to cut fiscal deficit during 2010-11 from the projected level of 6.8% of GDP in the current fiscal, as certain departments are asking for substantial increase in their plan outlays. “The finance minister would be under some pressure to reduce fiscal deficit from projections of 6.8% this fiscal,” Planning Commission member Abhijit Sen said. He said there are certain departments which have asked for substantial increase in expenditure for schemes like rural employment guarantee during the next fiscal. Asked about the hike in allocation to the agriculture ministry in view of the rising food prices, Sen said, “I am not looking at an increase. Our view is that there are certain departments which at the end of 2009-10 would be near or exceeding their total 11th Plan (2007-12) expenditure. Thus those departments would have to maintain certain expenditure level.” Citing examples of such departments, he said with this much of expenditure, rural development, the Railways and urban development ministries could have completed their 11th Plan targets by the middle of 2010-11. About the finance ministry agreeing to a 15% jump in the gross budgetary support next fiscal, Sen said, “the ministry has indicated that, but 15% hike in the GBS is less than what we have asked.” The gross budgetary support (GBS) is the amount of assistance provided by the Centre for various Plan schemes of the ministries. The finance ministry has targeted to bring down fiscal deficit to 5.5% next fiscal from the estimated 6.8% this fiscal. But with various quarters asking for stimulus to continue, there may be some pressure on the fiscal deficit front. However, the Government will get some respite on this front, as arrears to its employees due to the Sixth Pay Commission report would not be there and it will be making less payment to banks for loan waiver scheme next fiscal than it did this fiscal. Source: Home - Livemint.com | 16 Jan 2010 | 11:03 pm FM under pressure to contain deficit next fiscalNew Delhi: The Planning Commission has said that the finance ministry would be under some pressure to cut fiscal deficit during 2010-11 from the projected level of 6.8% of GDP in the current fiscal, as certain departments are asking for substantial increase in their plan outlays. “The finance minister would be under some pressure to reduce fiscal deficit from projections of 6.8% this fiscal,” Planning Commission member Abhijit Sen said. He said there are certain departments which have asked for substantial increase in expenditure for schemes like rural employment guarantee during the next fiscal. Asked about the hike in allocation to the agriculture ministry in view of the rising food prices, Sen said, “I am not looking at an increase. Our view is that there are certain departments which at the end of 2009-10 would be near or exceeding their total 11th Plan (2007-12) expenditure. Thus those departments would have to maintain certain expenditure level.” Citing examples of such departments, he said with this much of expenditure, rural development, the Railways and urban development ministries could have completed their 11th Plan targets by the middle of 2010-11. About the finance ministry agreeing to a 15% jump in the gross budgetary support next fiscal, Sen said, “the ministry has indicated that, but 15% hike in the GBS is less than what we have asked.” The gross budgetary support (GBS) is the amount of assistance provided by the Centre for various Plan schemes of the ministries. The finance ministry has targeted to bring down fiscal deficit to 5.5% next fiscal from the estimated 6.8% this fiscal. But with various quarters asking for stimulus to continue, there may be some pressure on the fiscal deficit front. However, the Government will get some respite on this front, as arrears to its employees due to the Sixth Pay Commission report would not be there and it will be making less payment to banks for loan waiver scheme next fiscal than it did this fiscal. Source: LatestNews-Home - Livemint.com | 16 Jan 2010 | 11:03 pm Dense fog envelops Delhi, hits rail, air traffic - Indian Express
Source: Business - Google News | 16 Jan 2010 | 10:59 pm Good sales pushes Reliance Retail Lifestyle to expand networkReliance Retail Lifestyle is planning to up its Reliance Jewels outlets to 114 over the next few years.Source: Daily News & Analysis: Money News | 16 Jan 2010 | 10:59 pm World pledges quake aid, Haitians still waitingPort-au-Prince: World leaders have stepped up to pledge aid to rebuild a devastated Haiti, but on the streets of its wrecked capital quake survivors were still waiting on Sunday for the basics: food, water and medicine. Four days after a massive quake killed up to 200,000 people international rescue teams were still finding people alive under the rubble of collapsed buildings in Port-au-Prince. Hundreds of thousands of hungry Haitians were desperately waiting for help, but logistical logjams kept major relief from reaching most victims, many of them sheltering in makeshift camps on streets strewn with debris and decomposing bodies. In the widespread absence of authority, looters swarmed over collapsed stores on the city’s shattered main commercial boulevard, carrying off T-shirts, bags, toys and anything else they could find. Fighting broke out between groups of looters carrying knives, ice-picks, hammers and rocks. Many Haitians streamed out of the city on foot with suitcases on their heads or jammed in cars to find food and shelter in the countryside, and flee aftershocks and violence. Many others crowded the airport hoping to get on planes that left packed with Haitians. President Barack Obama promised help as US Secretary of State Hillary Clinton flew to Haiti, where the shell-shocked government gave the United States control over the congested main airport to guide aid flights from around the world. “We’re moving forward with one of the largest relief efforts in our history to save lives and deliver relief that averts an even larger catastrophe,” said Obama, flanked at the White House by predecessors George W. Bush and Bill Clinton, who will lead a charity drive to help Haiti. Chaos But on the streets of Port-au-Prince, where scarce police patrols fired occasional shots and tear gas to try to disperse looters, the distribution of aid appeared random, chaotic and minimal. Downtown, young men could be seen carrying pistols. There were jostling scrums for food and water as US military helicopters swooped down to throw out boxes of water bottles and rations. A reporter also saw foreign aid workers tossing packets of food to desperate Haitians. “The distribution is totally disorganized. They are not identifying the people who need the water. The sick and the old have no chance,” said Estime Pierre Deny, standing at the back of a crowd looking for water with his empty plastic container. Haiti is the Western Hemisphere’s poorest country and has for decades struggled with devastating storms, floods and political unrest. Around 9,000 UN peacekeepers have provided security here since a 2004 uprising ousted one president. Looting has been sporadic since Tuesday’s earthquake, which flattened large parts of the capital. But it appeared to widen on Saturday as people became more desperate. The UN mission responsible for security in Haiti lost at least 40 of its members when its headquarters collapsed. The UN said the mission’s chief, Hedi Annabi of Tunisia, his deputy Luiz Carlos da Costa of Brazil and UN police commissioner in Haiti, Doug Coates of Canada, were killed. Russians rescue girls Four days after the 7.0 magnitude quake, aftershocks were felt every few hours in the capital, terrifying survivors and sending rubble and dust tumbling from buildings. Dramatizing the need to keep up rescue efforts, a Russian team pulled out two Haitian girls still alive -- 9-year-old Olon Remi and 11-year-old Senviol Ovri -- from the ruins of a house on Saturday. US rescuers worked through the night to dig out survivors from one collapsed supermarket where as many as 100 people could have been trapped inside. They were about to give up, when they were told a supermarket cashier had managed to call someone in Miami to say she was still alive inside. Trucks piled with corpses have been ferrying bodies to hurriedly excavated mass graves outside the city, but thousands of bodies are still believed buried under the rubble. Interior minister Paul Antoine Bien-Aime said around 50,000 bodies had already been collected and the final death toll will likely be between 100,000 and 200,000. Dozens of bloated bodies have been dumped in the yard outside the main hospital on Saturday, decomposing in the sun. The hospital gardens were a mass of beds with injured people, with makeshift drips hanging from trees. The weakened Haitian government is in no position to handle the crisis alone. The quake destroyed the presidential palace and knocked out communications and power. President Rene Preval is living and working from the judicial police headquarters. Airport bottleneck Hillary Clinton told Haitians the United States will ensure their country emerges “stronger and better” from the disaster. “We will be here today, tomorrow and for the time ahead,” she said after meeting Preval at the airport. The US State Department confirmed 15 Americans had died in the temblor, including one of its employees in Haiti. Dozens of countries have sent planes with rescue teams, doctors, tents, food, medicine and other supplies, but faced a bottleneck at Port-au-Prince’s small airport. The American Red Cross said 50-bed field hospitals and water purification equipment that were rerouted to neighbouring Dominican Republic arrived by truck convoy, allowing it to start distributing water and first aid in Port-au-Prince. Air traffic control in Port-au-Prince, hampered by damage to the airport’s tower, was taken over by the US military with backup from the nuclear-powered aircraft carrier USS Carl Vinson, which arrived off Haiti on Friday. Navy helicopters are taking water and rations ashore and ferrying injured people to a field hospital near the airport. The Pan American Health Organization said at least eight hospitals and health centres in Port-au-Prince had collapsed or sustained damage and were unable to function. The president of the Inter-American Development Bank, Luis Alberto Moreno, will visit Haiti on Monday and attend a donors meeting in the Dominican Republic to start analysing Haiti’s reconstruction needs, a bank spokesman said. Source: LatestNews-Home - Livemint.com | 16 Jan 2010 | 10:51 pm Yahoo slammed by China partner for Google supportChina's e-commerce giant Alibaba on Sunday condemned as "reckless" its partner Yahoo!'s support of Google, which has threatened to pull out of the Asian nation over censorship and cyberattacks. Source: HindustanTimes.com - Top Business News Headlines | 16 Jan 2010 | 10:15 pm Maruti Suzuki raises vehicle prices - Moneycontrol.com
Source: Business - Google News | 16 Jan 2010 | 10:10 pm Apple turns up heat in Nokia battle with ITC filingHELSINKI (Reuters) - Nokia said it would defend itself vigorously against Apple’s new complaint to the United States International Trade Commission.Source: Reuters: Money News | 16 Jan 2010 | 8:35 pm French president pressures Renault, gets no pledgePARIS (Reuters) - President Nicolas Sarkozy grilled top managers of carmaker Renault on Saturday but failed to win pledges from them to centre production of their new small car at a factory in France rather than in Turkey.Source: Reuters: Money News | 16 Jan 2010 | 7:52 pm House panel asks Paulson to testify in AIG probeWASHINGTON (Reuters) - A House panel slated to look into the collapse and bailout of insurer American International Group has widened its probe, adding former Treasury Secretary Henry Paulson to its list of invited witnesses.Source: Reuters: Money News | 16 Jan 2010 | 7:44 pm Inflation: Key issue in forthcoming monetary policy review - Economic Times
Source: Business - Google News | 16 Jan 2010 | 4:42 pm 8 bids received for metro rail project - The Hindu
Source: Business - Google News | 16 Jan 2010 | 3:18 pm MNC headhunters chase women to fill top jobsMultinational companies are chasing fair sex big time to fill top positions. The objective is to infuse gender diversity into the workforce in India, especially at the upper echelons.Source: India Business News | Business News - Times of India | 16 Jan 2010 | 2:31 pm UltraTech net drops 17.6% to Rs 196cr - Calcutta Telegraph
Source: Business - Google News | 16 Jan 2010 | 2:15 pm Patel wants airlines to club fare, surchargeAirlines and travel portals may soon have to publish one fare that includes the basic fare and the fuel surcharge. At present, airlines and portals first give the basic fare and add the fuel surcharge and the airport and user development fees levied by the government when the ticket is purchased. The fuel surcharge levied by the airlines often exceeds the basic fare.Source: Business Standard | Front Page Headlines | 16 Jan 2010 | 12:29 pm Eight in fray for H'bad MetroEight companies have submitted applications for the Rs 12,132-crore Hyderabad Metro Rail Project which will be executed on a design, build, finance, operate and transfer basis in public-private partnership.Source: Business Standard | Front Page Headlines | 16 Jan 2010 | 12:27 pm Wockhardt-Abbot deal gets high court go-aheadWockhardts efforts to restructure its operations have received a boost with the Bombay High Court declining to grant an injunction sought by a section of its investors to stall the divestment of its nutrition business to Abbott Laboratories of the US.Source: Business Standard | Front Page Headlines | 16 Jan 2010 | 12:24 pm Don't let Ruchika's death be in vain - Hindustan Times
Source: Business - Google News | 16 Jan 2010 | 12:11 pm Recruiters return to IIT BombayLast year, the Indian Institutes of Technology (IITs) could place only 75 to 80 per cent students, thanks to the economic slowdown. This year, the response is better. Day one at IIT Bombay saw participation from 21 firms and 81 jobs on offer an increase of 100 per cent over last year. The institute says it has already placed around 40 per cent of the students.Source: Business Standard | Front Page Headlines | 16 Jan 2010 | 11:34 am Crompton eyes overseas acquisitionBillionaire Gautam Thapar plans to buy companies to expand Indias third-largest equipment maker and add capacity in the nations biggest paper maker as demand in the worlds fastest growing major economy after China surges.Source: Business Standard | Front Page Headlines | 16 Jan 2010 | 11:32 am RBI Governor meets Finance Minister ahead of policy review - Hindu Business Line
Source: Business - Google News | 16 Jan 2010 | 11:13 am TVS Motor targets 2m sales, 10% EBITDA margin in 2010In an interview with CNBCTV18, Venu Srinivasan, CMD, TVS Motor spoke about his outlook for the motorbike business in 2010.Source: Moneycontrol Top Headlines | 16 Jan 2010 | 10:20 am Simply Fly: Capt Gopinath\'s entrepreneurial journeyEntrepreneur, helicopter pilot, farmer, politician and now author. Captain Gopinath, CMD, Deccan Express Logistics, who made flying affordable in India, has now released his autobiography called Simplify Fly: A Deccan Odyssey.Source: Moneycontrol Top Headlines | 16 Jan 2010 | 8:59 am Banks may be fined for levying prepayment feeThe Competition Commission of India (CCI) has declared prepayment banks charge on loans as anticompetitive, say sources, and may impose a fine on banks for levying the fee.Source: Moneycontrol Top Headlines | 16 Jan 2010 | 8:14 am Maruti Suzuki raises vehicle pricesMUMBAI (Reuters) - Maruti Suzuki, India's top carmaker, said on Saturday it has raised the prices of some of its models to recover the rise in input costs.Source: Reuters: Money News | 16 Jan 2010 | 7:08 am Tata s Nano bags car of the year awardSmall car Nano, manufactured by the Tata Group, has won Autocar India 2010's 'car of the year' award.Source: HindustanTimes.com - Top Business News Headlines | 16 Jan 2010 | 7:02 am Maruti Suzuki hikes prices of most modelsThe country's largest car maker Maruti Suzuki India today hiked prices of most of its models by an estimated up to Rs 10,000 to offset the increase in input costs, including that of steel.Source: India Business News | Business News - Times of India | 16 Jan 2010 | 6:46 am Govt allows power cos to bid for add\'l UMPP with caveatThe government has allowed a single company to bid for a fourth ultra mega power project (UMPP) provided it has completed one out of three UMPPs it has on hand.Source: Moneycontrol Top Headlines | 16 Jan 2010 | 6:43 am Oil cos hike jet fuel prices by 6.5%Public sector undertaking (PSU) oil companies is going to hike ATF (aviation turbine fuel) prices by average Rs 2,616 per kilolitre today (on Saturday), reports CNBCTV18.Source: Moneycontrol Top Headlines | 16 Jan 2010 | 6:29 am Suzlon bags wind turbine order from Swedish coWind turbine maker Suzlon Energy said on Saturday its oversease arm won an order from Swedish wind power developer and consultant Triventus AB.Source: Moneycontrol Top Headlines | 16 Jan 2010 | 6:28 am Anil Ambani plans to take over MGM Hollywood studio: ReportADAG chairman Anil Ambani plans a takeover of the Metro-Goldwyn-Meyer Hollywood studio in an attempt to become one of the world's most powerful film moguls, the 'Daily Telegraph' reported on Saturday.Source: India Business News | Business News - Times of India | 16 Jan 2010 | 5:48 am SMEs ride the Metro boomFor many small entrepreneurs around India, growth and prosperity come riding on the Delhi MetroSource: Moneycontrol Top Headlines | 16 Jan 2010 | 5:32 am Suzlon bags order for 4.2 MW from Sweden co Triventus ABSuzlon Wind Energy A/S (SWEAS), the international business arm of Suzlon Energy Limited broke new ground with its first order in Sweden.Source: Moneycontrol Top Headlines | 16 Jan 2010 | 5:18 am A woman may be RBI top brass soon hopes PranabFinance Minister Pranab Mukherjee today exuded hope that a woman would soon occupy the coveted post of the RBI Governor, so far a male domainSource: HindustanTimes.com - Top Business News Headlines | 16 Jan 2010 | 5:14 am Tata's Nano bags 'car of the year' awardSmall car Nano, manufactured by the Tata Group, has won Autocar India 2010's 'car of the year' award.Source: India Business News | Business News - Times of India | 16 Jan 2010 | 5:05 am Orissa to seek public opinion for Posco projectOrissa govt today decided to seek public opinion on Posco-India's proposed mega steel plant after failing to implement South Korean steel major's Rs 51,000 crore project near Paradip due to local opposition, official sources said.Source: India Business News | Business News - Times of India | 16 Jan 2010 | 5:02 am President cautions RBI against unbridled credit growthPresident Pratibha Patil cautioned the RBI against unrestrained credit growth that may lead to bad debts, but at the same time asked it to ensure loans to productive sectors of the economy.Source: HindustanTimes.com - Top Business News Headlines | 16 Jan 2010 | 4:45 am Gold gains on seasonal demandGold prices gained Rs 60 to Rs 17,090 per ten gram here on retail buying for the ongoing marriage season, even though the precious metal fell in the international markets.Source: India Business News | Business News - Times of India | 16 Jan 2010 | 4:37 am Marginal rise in RIIL Q3 netThe Mukesh Ambani Group firm Reliance Industrial Infrastructure said its net profit rose by 3.52 per cent to Rs 5.87 crore for the third quarter ended December 31, over the same period previous fiscal.Source: India Business News | Business News - Times of India | 16 Jan 2010 | 4:33 am Obama chides banks' "audacity" for fighting feeWASHINGTON (Reuters) - President Barack Obama on Saturday slammed Wall Street's "audacity" for fighting a bailout fee he wants to slap on financial firms and said his Republican opponents had sided with big banks.Source: Reuters: Money News | 16 Jan 2010 | 4:15 am Suzuki to end hybrid development with GMSuzuki Motor Corp said it would end joint development projects with General Motors for hybrid and fuelcell technologies as part of an operational review following its alliance with Volkswagen AG.Source: Moneycontrol Top Headlines | 16 Jan 2010 | 3:53 am Kuldip Singh takes over as MTNL chairmanKuldip Singh, currently a director with Indian staterun Mahanagar Telephone Nigam Ltd, has been appointed as the acting chairman and managing director of the company, effective Friday.Source: Moneycontrol Top Headlines | 16 Jan 2010 | 3:47 am RBI governor meets FM ahead of monetary reviewAhead of the Reserve Bank's monetary policy review slated for later this month, central bank Governor D Subbarao today met Finance Minister Pranab Mukherjee.Source: HindustanTimes.com - Top Business News Headlines | 16 Jan 2010 | 3:46 am Provide credit to women SHGs at 4 pc: President tells RBIPresident Pratibha Patil on Saturday asked the Reserve Bank to consider evolving a mechanism to give loans to women Self-Help Groups, particularly those comprising members below the poverty line, at not more than four per cent annually.Source: India Business News | Business News - Times of India | 16 Jan 2010 | 3:14 am Markets end week in green on IT, PSU shares rallyMumbai: Markets ended on a positive note for the fourth week as the Sensex gained 14 points to reach 17,554.30 following a sharp rise in IT shares on the back of higher earnings reported by Infosys. Public sector stocks too ended with gains on renewed support from investors following talks of stake sale in some of them. Small-cap and mid-cap shares also moved up on persistent buying. However, banking shares became the major losers of the week on fears that the Reserve Bank of India (RBI) might tighten monetary policy due to a likely surge in inflation. The BSE 30-share barometer Sensex ended higher by 14.01 points, or 0.08%, to settle at 17,554.30 against last weekend’s close of 17,540.29. The BSE IT index rose by 446.26 points, or 9%, after encouraging third quarter results from Infosys, which registered a gain of 8.56% in its share prices. India’s largest software services exporter TCS firmed up by 13.03%, while third-largest IT services exporter Wirpo shot up 9.80%. The BSE small cap index outperformed the Sensex, rising by 272.82 points, or 3.14%, while the mid-cap index shot up 104.41 points, or 1.50%. The BSE PSU index vaulted by 204.42 points, or 2.10%. The BSE dollex-200 and dollex-100 firmed up by 3.03% and 2.89%, respectively. However, the BSE bankex dropped by 230.28 points, or 2.27%, followed by the BSE metal index, which fell 138.91 points, or 0.77%, and BSE FMCG, which lost 51.50 points, or 1.81%. The NSE 50-share Nifty edged up further by 7.45 points, or 0.14%, to end the week at 5,252.20 from last weekend’s level of 5,244.75. Index heavyweight Reliance Industries (RIL) rose by 0.66%. India’s largest power equipment maker by sales BHEL lost 2.15%, while the country’s largest engineering and construction firm by sales Larsen and Toubro fell 1.52%. Hindalco dropped by 3.84% and Sterlite dipped 3.70%. Among banks, SBI slipped by 6.25%, ICICI Bank by 3.74% and HDFC Bank by 1.32%. During the week, the trading volume on the BSE fell to Rs31,229.62 cr from last weekend’s level of Rs33,023.59 crore, while the NSE improved further to Rs89,728.33 crore from Rs87,862.28 crore earlier. Source: Home - Livemint.com | 16 Jan 2010 | 2:42 am
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