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Subhash Projects current order book at Rs 4000crIn an interview with CNBCTV18, Subash Sethi, Vice Chairman, Subhash Projects spoke about his companys order book and plans going forward.Source: Moneycontrol Top Headlines | 19 Jan 2010 | 8:52 am To start complex fertiliser production: Madras FertilisersIn an interview with CNBCTV18, S Muralidharan, Chairman and Managing Director of Madras Fertilisers, spoke about his outlook for the company.Source: Moneycontrol Top Headlines | 19 Jan 2010 | 8:35 am Petronet LNG may buy spot cargoes in H2 2010Petronet LNG may import spot cargoes of liquefied natural gas (LNG) in the second half of 2010, the firm\'s director of finance, Amitava Sengupta, told Reuters on Tuesday.Source: Moneycontrol Top Headlines | 19 Jan 2010 | 8:13 am ArcelorMittal, BHP discuss Africa iron ore JVArcelorMittal, the world\'s largest steelmaker, is in talks with miner BHP Billiton to combine their iron ore assets in Guinea and Liberia in a joint venture.Source: Moneycontrol Top Headlines | 19 Jan 2010 | 7:48 am India Infoline to raise $500m for fundoffundsFinancial services firm, India Infoline is raising as much as USD 500 million from overseas financial institutions to set up a fund of funds, a top official told Reuters on Tuesday.Source: Moneycontrol Top Headlines | 19 Jan 2010 | 7:48 am Residential seg to do well in FY11: Purvankara ProjectsIn an interview with CNBCTV18, Ravi Ramu, Director Finance of Purvankara Projects and S Sriniwasan, Chief Executive Officer of Kotak Realty Fund, spoke about their outlook for the realty space.Source: Moneycontrol Top Headlines | 19 Jan 2010 | 7:12 am Alok Ind needs Rs 12 bn capex in FY11Textile maker Alok Industries requires 12 billion rupees in capital expenditure in FY11 to streamline its operations, Managing Director Dilip Jiwrajka told reporters on Tuesday.Source: Moneycontrol Top Headlines | 19 Jan 2010 | 6:45 am NTC expects Rs 40 bn from asset sales: Dayanidhi MaranTextiles Minister Dayanidhi Maran said staterun National Textile Corporation (NTC) will be able to raise Rs 40 billion from assets sales in Mumbai, Kanpur and Indore once the realestate market improves.Source: Moneycontrol Top Headlines | 19 Jan 2010 | 6:45 am Indian Oil to raise $500m via bondsStaterun refiner Indian Oil Corporation on Tuesday said it is raising USD 500 million through foreign currency bonds to fund its capital expenditure.Source: Moneycontrol Top Headlines | 19 Jan 2010 | 6:39 am See recovery in auto suppliers demand: FtichFitch Ratings has today said, in a just published Special Report, that the recovery in India\'s domestic automotive sales in H209 should spur business for auto suppliers in 2010.Source: Moneycontrol Top Headlines | 19 Jan 2010 | 6:39 am Cadbury melts to Kraft's takeover offer: report - Business Standard
Source: Business - Google News | 19 Jan 2010 | 3:28 am Sesa Goa erases gains, ends down 1% - Business Standard
Source: Business - Google News | 19 Jan 2010 | 3:26 am Sensex ends below 17500; Hindalco, ACC down - Economic Times
Source: Business - Google News | 19 Jan 2010 | 3:23 am Govt to complete 3G auction by March end RajaThe government on Tuesday said radio wave auctions for third generation mobile phone services, or 3G, will be completed by end of March.Source: HindustanTimes.com - Top Business News Headlines | 19 Jan 2010 | 3:13 am Apple expected to launch tablet computer on January 27The company has never acknowledged the existence of the tablet, but rumours and speculation have been building for months.Source: Daily News & Analysis: Money News | 19 Jan 2010 | 3:11 am Economic growth to speed up in 2010 - Economic Times
Source: Business - Google News | 19 Jan 2010 | 3:01 am Infotech buys US engg services firm - Business Standard
Source: Business - Google News | 19 Jan 2010 | 3:00 am Fin Min to give Rs 12000 cr in cash to fuel retailers - Economic Times
Source: Business - Google News | 19 Jan 2010 | 2:58 am Six Indian states raise 23.29 bln rupees via 10-yr loansMUMBAI (Reuters) – The Reserve Bank of India (RBI) said on Tuesday it sold 10-year state loans for six states amounting to 23.2905 billion rupees as against the target of 21.2905 billion rupees.Source: Reuters: Money News | 19 Jan 2010 | 2:52 am BSE Sensex drops 1 pct on weak global cuesMUMBAI (Reuters) – The BSE Sensex fell 1 percent on Tuesday afternoon, led by losses in software companies, as weakness in global equities hurt investor sentiment.Source: Reuters: Money News | 19 Jan 2010 | 2:51 am Ranbaxy acquires Bangalore vaccine firm BiovelMumbai: Indian drugmaker Ranbaxy Laboratories on Tuesday signed an agreement to acquire product rights and manufacturing facility of Bangalore-based Biovel Lifesciences Pvt Ltd, for an undisclosed sum. Biovel’s development pipeline comprises of vaccines and biotherapeutics, the two companies said in a statement. “This transaction with Biovel provides us an entry platform to manufacture vaccines as well as biotherapeutics. The vaccine and biotherapeutics business will be an important part of our growth strategy,” Ranbaxy chief executive Atul Sobti said in the statement. Ranbaxy is majority owned by Japan’s Daiichi Sankyo. Source: Home - Livemint.com | 19 Jan 2010 | 2:50 am BRIEF - Cadbury agrees $19.6 bln takeover by Kraft* Cadbury shareholders will also be entitled to receive 10 pence per Cadbury share by way of a special dividendSource: Reuters: Money News | 19 Jan 2010 | 2:45 am Japan Airlines files for bankruptcy - Times of India
Source: Business - Google News | 19 Jan 2010 | 2:44 am PREVIEW - Gas seen boosting Reliance Q3 net; M&A in focusMUMBAI (Reuters) - Reliance Industries, controlled by billionaire Mukesh Ambani, should post its first quarterly profit increase in five quarters on the back of higher gas production from fields off India's east coast.Source: Reuters: Money News | 19 Jan 2010 | 2:30 am Inflation may touch double digits by MarchIndia's monthly inflation may touch double digits by March, Chief Statistician Pronab Sen said on Tuesday. "It is really possible," he said, when asked whether inflation could touch double digits by March.Source: India Business News | Business News - Times of India | 19 Jan 2010 | 2:27 am Economic growth to speed up in 2010BEIJING (Reuters) – India’s economic growth will accelerate this year, Minister of Commerce and Industry said as he demanded better access to China's markets to help exports.Source: Reuters: Money News | 19 Jan 2010 | 2:14 am Cadbury agrees to $18.9 bn takeover bid from KraftLondon: British confectioner Cadbury has agreed to a takeover from US food giant Kraft worth 840 pence per share or £11.5 billion (€13.1 billion, $18.9 billion), the pair said Tuesday. “The board of Kraft Foods is pleased to announce the detailed terms of a recommended final offer for Cadbury and the board of Cadbury unanimously recommends Cadbury security holders to accept the terms,” a statement said. The US firm proposes to pay 500 pence in cash and 0.1874 new Kraft Foods shares per Cadbury share. That would value each Cadbury share at 840 pence. “In addition, Cadbury shareholders will be entitled to receive 10 pence per Cadbury share by way of a special dividend following the date on which the final offer becomes or is declared unconditional,” the statement added. “The terms of the final offer reflect the strength of Cadbury’s business, its brands and the future potential for growth through the combination of Kraft Source: Home - Livemint.com | 19 Jan 2010 | 2:09 am Cadbury agrees to $18.9 bn takeover bid from KraftLondon: British confectioner Cadbury has agreed to a takeover from US food giant Kraft worth 840 pence per share or £11.5 billion (€13.1 billion, $18.9 billion), the pair said Tuesday. “The board of Kraft Foods is pleased to announce the detailed terms of a recommended final offer for Cadbury and the board of Cadbury unanimously recommends Cadbury security holders to accept the terms,” a statement said. The US firm proposes to pay 500 pence in cash and 0.1874 new Kraft Foods shares per Cadbury share. That would value each Cadbury share at 840 pence. “In addition, Cadbury shareholders will be entitled to receive 10 pence per Cadbury share by way of a special dividend following the date on which the final offer becomes or is declared unconditional,” the statement added. “The terms of the final offer reflect the strength of Cadbury’s business, its brands and the future potential for growth through the combination of Kraft Source: LatestNews-Home - Livemint.com | 19 Jan 2010 | 2:09 am GLOBAL MARKETS - Waiting for earnings to give a steerLONDON (Reuters) - World stocks slipped on Tuesday as investors waited for a wave of U.S. company earnings reports to give them a steer of how well the micro side of the global economic recovery is faring.Source: Reuters: Money News | 19 Jan 2010 | 2:06 am Profit selling pulls market down at mid-sessionThe Bombay Stock Exchange benchmark Sensex dipped by nearly 71 points at mid-session today on emergence of profit selling in heavy-weight stocks, specially in the IT counter, which had made significant gain in the previous session.Source: India Business News | Business News - Times of India | 19 Jan 2010 | 2:06 am ArcelorMittal, BHP discuss Africa iron ore JVBrussels: ArcelorMittal, the world’s largest steelmaker, is in talks with miner BHP Billiton to combine their iron ore assets in Guinea and Liberia in a joint venture. ArcelorMittal said in a statement on Tuesday that the companies’ iron ore interests were close to each other’s and could be significantly more competitive if brought together. The two would assess the merits of a partnership in coordination with the governments involved in the coming months. ArcelorMittal’s iron ore assets straddle the border between Guinea and Liberia. Its mining there is in the process of being revived since the end of the civil war in Liberia, but is not currently active. It expects first shipping in 2011. Neither ArcelorMittal nor BHP, the world’s largest mining group, would specify the size of their deposits. Rio Tinto and BHP -- the world’s second and third biggest iron ore producers respectively -- last month signed a $116 billion iron ore joint venture agreement to combine their Western Australian iron ore operations. Brazil’s Vale is the world’s top iron ore miner. ArcelorMittal has been pushing to increase its self-sufficiency in iron ore in recent years. The African venture would be its first combination of iron ore assets. It said in the second half of last year that it planned to reinitiate some projects to capture growth in emerging markets and to continue to expand into mining. Source: Home - Livemint.com | 19 Jan 2010 | 2:03 am Pollard, Bond costliest players at IPL auctionMumbai: The explosive Caribbean all-rounder Kieron Pollard and New Zealand paceman Shane Bond emerged as the most expensive players, being sold for a whopping $750,000 (approx. Rs3.42 crore) at the auction for the third edition of the Indian Premier League on Tuesday. It was a four-way tie among Mumbai Indians, Chennai Super Kings, Royal Challengers Bangalore and Kolkata Knight Riders to grab Pollard and eventually Mumbai won the player through a silent tie-breaker bid in the high profile auction which saw no Pakistani player being sold out. The price of the silent bid was not disclosed by the organisers with IPL chairman Lalit Modi saying that the information will be confined to the bidders and them. Like Pollard, a keen tussle was witnessed to grab Kiwi paceman Bond with Kolkata Knight Riders and Deccan Chargers making the highest bid. After a tie-breaker, the Kolkata grabbed the paceman. West Indies paceman Kemar Roach was the second costliest player sold to Deccan Chargers for $720,000. Delhi Daredevils bought South African all rounder Wayne Parnell for $610,000 against a base price of $200,000. Rajasthan Royals bought retired Australian Damien Martyn for $100,000 apart from securing the services of Adam Voges for $50,000. Chennai Super Kings recalled South African Justin Kemp by paying $100,000 and also bought emerging Sri Lankan batsman Thisara Perera for $50,000. Mohammed Kaif, the only Indian player featuring in the auction, went unsold in the first round but was later bought by Kings XI Punjab for $250,000. They also recalled South African Yusuf Abdullah. Royal Challengers Bangalore bid for just one player and got England’s Eoin Morgan for $220,000. In all, 56 players remained unsold out of 67 that went under the hammer. Three Under-19 Indian players at a fixed price of Rs8 lakh were also in the auction list. Royal Challengers Bangalore chose U-19 skipper Ashok Maneria, Deccan Chargers preferred Harmeet Singh and Mumbai Indians opted for Harshal Patel. The third edition of the extremely popular Twenty20 tournament will begin from 12 March. Source: Home - Livemint.com | 19 Jan 2010 | 2:02 am JAL files for bankruptcy with $25 bln total debtTOKYO (Reuters) - Japan Airlines Corp said on Tuesday it had filed for bankruptcy with 2.3 trillion yen ($25.4 billion) in debt as of the end of September, as it seeks to revive itself under a state-backed restructuring plan.Source: Reuters: Money News | 19 Jan 2010 | 1:54 am China says Google, foreign firms must respect lawsBEIJING (Reuters) - Foreign firms, including Google, must respect Chinese laws and customs, China's foreign ministry spokesman said on Tuesday, also denying reports that China hacked Indian government computers.Source: Reuters: Money News | 19 Jan 2010 | 1:51 am India Infoline to raise $500 mn to set up a fundMumbai: Financial services firm, India Infoline is raising as much as $500 million from overseas financial institutions to set up a fund of funds, a top official told Reuters on Tuesday. IIFL is raising the amount from institutions across Asia, West-Asia, Europe and the US for the Resilient India Growth Fund which will invest in Indian mutual funds, said Umang Papneja, president (products) at India Infoline. “We have already started the road shows and the first tranche of investments is expected to come in a couple of weeks,” he said. “Its a global fund and we are targeting foreign institutions that do not have access to invest in Indian mutual funds.” Overseas institutions are not allowed to invest in Indian-domiciled funds unless they have an FII license under Indian regulations. The fund will invest in a diversified portfolio of Indian mutual funds across 8-10 asset managers. The investments could be in equity-related mutual funds and would be diversified by industry, sector and managers, Papneja added. Foreign institutions have invested as much as $17.46 billion during the year 2009, as per the data from Indian market regulator’s website. FIIs have invested $1.7 billion in the first 15 days of 2010. India Infoline recently got approval from capital market regulator Sebi and expect to start mutual fund operations by the first quarter of the next financial year. “This would be different from our proposed mutual fund operations. We are raising funds overseas and will invest in domicile funds,” Papneja added. Source: LatestNews-Home - Livemint.com | 19 Jan 2010 | 1:45 am India Infoline to raise $500 mn to set up a fundMumbai: Financial services firm, India Infoline is raising as much as $500 million from overseas financial institutions to set up a fund of funds, a top official told Reuters on Tuesday. IIFL is raising the amount from institutions across Asia, West-Asia, Europe and the US for the Resilient India Growth Fund which will invest in Indian mutual funds, said Umang Papneja, president (products) at India Infoline. “We have already started the road shows and the first tranche of investments is expected to come in a couple of weeks,” he said. “Its a global fund and we are targeting foreign institutions that do not have access to invest in Indian mutual funds.” Overseas institutions are not allowed to invest in Indian-domiciled funds unless they have an FII license under Indian regulations. The fund will invest in a diversified portfolio of Indian mutual funds across 8-10 asset managers. The investments could be in equity-related mutual funds and would be diversified by industry, sector and managers, Papneja added. Foreign institutions have invested as much as $17.46 billion during the year 2009, as per the data from Indian market regulator’s website. FIIs have invested $1.7 billion in the first 15 days of 2010. India Infoline recently got approval from capital market regulator Sebi and expect to start mutual fund operations by the first quarter of the next financial year. “This would be different from our proposed mutual fund operations. We are raising funds overseas and will invest in domicile funds,” Papneja added. Source: Home - Livemint.com | 19 Jan 2010 | 1:45 am Profit selling pulls market down at mid sessionThe Bombay Stock Exchange benchmark Sensex dipped by nearly 71 points at mid-session today on emergence of profit selling in heavy-weight stocks, specially in the IT counter, which had made significant gain in the previous session.Source: HindustanTimes.com - Top Business News Headlines | 19 Jan 2010 | 1:38 am Kraft nears agreed takeover deal for CadburyLONDON (Reuters) - Kraft Foods was close to announcing a recommended deal to buy Cadbury for around 11.7 billion pounds ($19.2 billion) after it offered more cash in late-night talks to break a four-month impasse over price.Source: Reuters: Money News | 19 Jan 2010 | 1:25 am Asian shares dip on tech, central bank actions eyedHong Kong: Asian stocks fell on Tuesday as investors took profits on a recent run-up in technology shares and awaited earnings reports from major US companies, while casting a wary eye on regional central banks taking more steps to tighten policy. European shares followed Asia lower, dipping 0.2% in early trade. But US stock futures were modestly higher after a US holiday on Monday. The US dollar eased, giving a boost to oil and commodity prices, which helped underpin shares of resource companies despite the broader equity market sell-off. “Part of the earnings have been exaggerated by record low interest rates and you can’t expect that to carry on for the next 12 months,” said Sean Darby, chief Asia strategist at Nomura International in Hong Kong. “Input costs will start to rise now after companies have been living off cheap inventories for the last six months. That will also start feeding into their earnings.” The MSCI index of Asia Pacific stocks outside Japan slipped 0.3%, with technology shares the biggest drag after a sharp run-up in the sector that began early last year. The Thomson Reuters index of regional shares pulled back 0.6%. Chi Mei Optoelectronics, Taiwan’s No. 2 LCD maker, tumbled 4.1%, while South Korea’s Samsung Elecronics fell 2.4%. In Hong Kong, shares of Foxconn International Holdings slumped 6%. Japan’s benchmark Nikkei average dipped 0.8% as the stronger yen weighed on shares of exporters and as traders took profits from its recent rally, which saw the benchmark hit a 15-month high last week. Honda Motor Co was 2.1% lower and Toyota Motor Corp slipped 1.2%. An expected bankruptcy filing by Japan Airlines had little market impact, with its shares already having plunged to just ¥5. Taiwan’s tech-heavy market was the worst performer in the region after reaching a 19-month intraday peak on Monday. The main TAIEX share index fell 1.1% as investors trimmed holdings of tech shares heading into earnings season. Taiwan’s central bank on Tuesday followed China’s lead to rein in excess liquidity by raising the rate at which banks borrow from each other to an eight-month high, suggesting authorities may be leaning towards monetary policy tightening to curb inflationary pressures. The move came just after China’s central bank lifted the yield in an auction of one-year bills more than expected, raising worries that authorities may be considering more aggressive measures to cool lending growth and keep the economy from overheating. The fresh step by the People’s Bank of China capped gains in Shanghai and Hong Kong, largell offsetting expectations for strong Chinese economic data due for release this week. Investors were cautious, however, as US financial markets reopen after Monday’s holiday. A slew of key earnings reports are due this week from heavyweight stocks, including Bank of America , Citigroup, IBM General Electric and Google. Stronger-than-expected results last week from tech bellwether Intel Corp failed to excite investors, while steep loan losses reported by JPMorgan Chase & Co. rattled investors on worries that US consumers are still struggling under the weight of heavy debts. Currencies The dollar fell 0.2% to 90.55 and hit a four-week low, while the euro fell to a four-month low against the pound as Greece’s fiscal woes continued to take a toll on the common currency. At a meeting of euro zone finance ministers on Monday, Greece received the group’s backing to tackle its debt troubles, even as they pressed the country to do more on its own. Greece’s ballooning budget deficit and debt of more than 120% of GDP has triggered downgrades by debt rating agencies and hurt the euro in the past few months. The pound also got a boost from reports that US based Kraft Foods and Britain’s Cadbury Plc were arranging a $19 billion deal to create the world’s largest confectionary group. But the Australian dollar lost ground after the Chinese central bank move as traders feared gradual policy tightening by Beijing will curb demand for commodities from iron ore to oil. Metal and oil prices rose on the weaker dollar. Palladium hit a fresh 18-month peak, spurred by the launch of an exchange-traded fund backed by the metal earlier this month, while gold inched up $6.10 to $1,138.65. Oil extended gains scored on Monday, edging up 13 cents a barrel to $78.13. In the bond market, five-year Japanese government bond yields fell a basis point to 0.505% after a solid auction of the maturity, bucking the rise in most other yields. Source: Home - Livemint.com | 19 Jan 2010 | 1:11 am Oilmin says receives 120 bln rupees cash subsidyNEW DELHI (Reuters) - Finance ministry has given 120 billion rupees ($2.63 billion) as cash subsidy to state-run oil firms to compensate them for selling fuel below market price, an oil ministry official said on Tuesday.Source: Reuters: Money News | 19 Jan 2010 | 12:49 am Subscribe at cut-off to Jubilant Foodworks IPO: Reliance Money - Economic Times
Source: Business - Google News | 19 Jan 2010 | 12:16 am Restructuring looms as clock ticks on JAL bankruptcyTokyo: Japan Airlines Corp. is set to file for a bankruptcy on Tuesday that will see it slash 15,000 jobs and replace ageing planes in an effort to survive an industry beset by volatile fuel costs and fickle flyers. JAL, Asia’s largest airline by revenues, will remain in the skies under a state-backed restructuring plan but cut unprofitable routes, non-core businesses and pension payouts and as it tries to free itself from about $16 billion in debt, sources have said. JAL, which has been bailed out by the Japanese government three times in the past 10 years, must now look to reinvent itself through painful operational cuts and tough decisions about foreign capital and alliances. “I am not worried about the future of the carrier as I believe the government will strongly support it,” said Yasuhiro Matsumoto, credit analyst at Shinsei Securities. “But whether it will be able to grow as a business is unclear. I can’t see how JAL is going to build its network domestically and internationally.” The airline is expected to file for bankruptcy around 0800 to 0830 GMT, two sources familiar with the matter said. The move could make rival All Nippon Airways Co., Japan’s new flagship carrier, some analysts said. Shares in ANA fell 4.2% after rallying to a six-month high last week. Shares of JAL closed flat at 5 yen, having fallen as low as 3 yen. The airline has lost more than 90% of its market capitalisation since the start of the month. With a market value of about $150 million, JAL is now smaller than minor carriers Croatia Airlines and Jazeera Airways and is worth less than a Boeing 747. JAL bonds maturing in 2013 traded at the equivalent of just 27.8 cents on the dollar, versus around 70 cents last month. Debt-laden JAL was saddled with 1.5 trillion yen ($16.6 billion) in total liabilities as of the end of September. That level of debt would make it the sixth-largest bankruptcy in Japan’s history, ranking just below the 2001 collapse of retailer Mycal. Following similar bankruptcies by overseas airlines such as Delta Air Lines and United Airlines, JAL plans to cut about a third of its 47,000 workforce and erase about two dozen unprofitable routes, sources said. JAL is expected to file for protection from creditors using a procedure that will allow it to continue operations and seek to rebuild itself, similar to Chapter 11 in the US. In return, the state-backed Enterprise Turnaround Initiative Corp. of Japan (ETIC) will support the carrier with about 300 billion yen in capital and creditors will be asked to forgive about 350 billion yen of loans, sources said. Units including Japan Airlines International, which handles domestic and overseas flights and JAL Capital, which raises operational funds, will also file for bankruptcy, one source said. But that will only be the beginning for an airline with depleted capital, facing headwinds such as rising fuel prices and shrinking passenger numbers, on top of hefty restructuring costs. Fuel hedging contracts may also be affected by a bankruptcy filing. JAL uses mostly in Brent forward contracts and about 40 billion yen is estimated to be exposed in the event of an automatic termination, a source familiar with the matter said. JAL needs to do what it has long put off: Focus on its main business and cut operations it doesn’t need, said Andrew Miller, chief executive officer of CAPA Consulting. “I would have a fire sale -- get rid of the family silver, sell everything that is non-core and focus in on the core and make that work efficiently,” he said. Alliance in question JAL will also need to make a decision about competing aid offers from Oneworld alliance partner American Airlines and rival Delta, which wants to woo JAL to its SkyTeam group. The carrier has spent two decades trying to recover public trust following a 1985 crash that became the world’s worst single aircraft disaster in history, claiming 520 lives. JAL, headed for its fourth net loss in five years, last week drew down on the 145 billion yen in emergency funding left from a 200 billion yen credit line supplied by the state-owned Development Bank of Japan. The state-backed ETIC can draw on government-backed funding to support ailing Japanese companies. The fund has said it would guarantee payment for fuel and other commercial transactions to ensure JAL can maintain its operations. Kazuo Inamori, the 77-year-old founder of electronics maker Kyocera Corp., was tapped last week to become JAL’s new chief executive officer to oversee its restructuring. JAL’s restructuring plan also calls for increasing the fuel efficiency of its fleet, replacing 53 bigger jets with 33 small jets and 17 regional ones. “I think a revival of JAL will be good for manufacturers such as Mitsubishi Heavy industries which is developing new regional jets,” said Shinsei’s Matsumoto. Source: LatestNews-Home - Livemint.com | 19 Jan 2010 | 12:14 am Cognizant staff to get promotions, higher bonusAn e-mail from the company's Chief Financial Officer, Mr Gordon Coburn, and the Chief People Officer, Mr Shankar Srinivasan, has assured them, this year, of ‘significantly higher levels of bonus,' ‘accelerated promotion andSource: Business Line - Home Page | 19 Jan 2010 | 12:00 am NTPC plans `French auction' for better follow-on issue valueNTPC Ltd is betting on higher valuations for its upcoming follow-on public offering, thanks to the new `French auction' model slated to be tried out for the institutional portion of the proposed shareSource: Business Line - Home Page | 19 Jan 2010 | 12:00 am Day Trading GuideAs long as DLF trades below Rs 394 the near-term outlook is neutral. Avoid trading in this counter. Fresh long position can be initiated if ICICI Banks exceeds Rs 874 and SBI climbs above Rs 2181 with stiff stop-loss. We re-affirm our prior viewSource: Business Line - Home Page | 19 Jan 2010 | 12:00 am Geometric (Rs 76.3): BuyWe recommend a buy in Geometric from a short-term perspective. It is evident from the charts of the stock that after touching a multi-year low at Rs 10.5 in March 2009, the stock reversed direction. Since then the stock has been on a longer-termSource: Business Line - Home Page | 19 Jan 2010 | 12:00 am Dilemma of deficit and growth…In the run-up to the Monetary Policy on January 29, speculation is rife over a possible re-jig in policy to limit credit to real segments of the economy by adjusting the repo rate or the rate at which banks borrow from the Reserve Bank of India.Source: Business Line - Home Page | 19 Jan 2010 | 12:00 am Mahindra launches ‘Gio' in South IndiaAuto major Mahindra & Mahindra Ltd (M&M) launched its recently-developed small commercial vehicle ‘Gio' in the South Indian market, beginning with Hyderabad, here onSource: Business Line - Home Page | 19 Jan 2010 | 12:00 am Pranab sees signs of turnaroundThe Finance Minister, Mr Pranab Mukherjee, said on Monday that the current macro-economic situation confirms signs of a turnaround in the economy. He also told the Parliamentary consultative committee attached to the Finance Ministry that theSource: Business Line - Home Page | 19 Jan 2010 | 12:00 am Investor interest perks up in banking stocksBank stocks on Monday posted gains and the BSE Bankex outperformed the Sensex as players saw room for upside in some of theSource: Business Line - Home Page | 19 Jan 2010 | 12:00 am TCS to bring all 2008-09 freshers on board by MarchThe country's largest software exporter Tata Consultancy Services will complete the process of bringing on board freshers from the 2008-09 batch by March, a top company official hasSource: Business Line - Home Page | 19 Jan 2010 | 12:00 am Penalty for non-compliance with renewables purchase obligationFailure to comply with renewable purchase obligations (RPO) will attract ‘regulatory charges' (penalty) for entities in the renewable energySource: Business Line - Home Page | 19 Jan 2010 | 12:00 am Alibaba sees strong growth in its online retailerTaipei: China’s largest e-commerce firm Alibaba Group expects transactions on its online retailer Taobao to double to 400 billion yuan ($59 billion) this year from last year, the firm’s chief executive said on Tuesday. Alibaba CEO Jack Ma told an economic forum in Taipei that China’s e-commerce market was set to grow significantly in the next five to eight years. “E-commerce in China has just started,” Ma told reporters on the sidelines of the event, but did not give forecasts for his company’s overall operations. Alibaba Group, in which Yahoo Inc owns a 40% stake, runs Taobao, China’s largest online retailer, and China’s largest e-commerce website Alibaba.com. Ma added that there was no rush to list Taobao, widely considered China’s eBay. Taobao, China’s largest online retailer, has said it will launch three mobile phones preloaded with its applications around the beginning of this year to bring more users to online shops on its service. Source: Tech News - Livemint.com | 18 Jan 2010 | 11:53 pm Alibaba sees strong growth in its online retailerTaipei: China’s largest e-commerce firm Alibaba Group expects transactions on its online retailer Taobao to double to 400 billion yuan ($59 billion) this year from last year, the firm’s chief executive said on Tuesday. Alibaba CEO Jack Ma told an economic forum in Taipei that China’s e-commerce market was set to grow significantly in the next five to eight years. “E-commerce in China has just started,” Ma told reporters on the sidelines of the event, but did not give forecasts for his company’s overall operations. Alibaba Group, in which Yahoo Inc owns a 40% stake, runs Taobao, China’s largest online retailer, and China’s largest e-commerce website Alibaba.com. Ma added that there was no rush to list Taobao, widely considered China’s eBay. Taobao, China’s largest online retailer, has said it will launch three mobile phones preloaded with its applications around the beginning of this year to bring more users to online shops on its service. Source: LatestNews-Home - Livemint.com | 18 Jan 2010 | 11:53 pm Inflation may touch double digits by March officialIndia's monthly inflation may touch double digits by March, federal Chief Statistician Pronab Sen told NDTV Profit television on Tuesday.Source: HindustanTimes.com - Top Business News Headlines | 18 Jan 2010 | 11:29 pm Inflation may touch double digits by March: OfficialIndia's wholesale price index rose to 7.31% in December from a year earlier, driven by higher food prices.Source: Daily News & Analysis: Money News | 18 Jan 2010 | 11:26 pm Hong Kong woos Indian firms in big wayAccording to the Hong Kong government, Indian firms, which were keen in being near the manufacturing hub in China and operate in Hong Kong, should look at investments there.Source: Daily News & Analysis: Money News | 18 Jan 2010 | 11:21 pm Zee Q3 net up 74%; to hike stake in Ten SportsMumbai: Media firm Zee Entertainment on Tuesday posted a 74.49% jump in its net profit at Rs146.4 crore for the December quarter, and said it will consolidate its stake in Ten Sports at 95%. However, the total income of the company has declined to Rs563.2 crore for the third quarter ended 31 December 2009, from Rs585.7 crore in the same period previous year, Zee Entertainment Enterprises (ZEE) said in a filing to the Bombay Stock Exchange. “Zee’s performance over the last couple of quarters is reflective of its ability to grow viewership and revenues even under difficult market conditions. Now that the economy and sentiments have improved, we will continue building our product portfolio for creating value in the long-term,” ZEE chairman Subhash Chandra said. On the standalone basis, the firm posted a net profit of Rs147.9 crore for the Q3, nearly a three-fold jump from the same period last year. Zee said that “the Board of Directors have approved, acquisition of additional 45 per cent equity stake in Taj TV Ltd, Mauritius, the owners of Ten Sports channel, through its overseas subsidiary (Zee Sports International Ltd Mauritius)”, from Bukhatir Group (Bukhatir) for a consideration of $44.145 million (about Rs201 crore). With the said acquisition Zee’s stake in Ten Sports would rise to 95% from 50% it currently holds in the company. Further, the board has also approved the acquisition of the majority stake (100%) in the Indian arm of Taj TV, Taj Television (India), making it a wholly-owned subsidiary of the company. In November 2006, Zee Entertainment through its overseas subsidiary had bought 50% stake in Ten Sports channel, and 50% stake in Taj Television India Pvt Ltd, a distribution arm of Ten Sports in India. Shares of Zee Entertainment were trading at Rs279.80 on the BSE, down 2.25% from its previous close. Source: Home - Livemint.com | 18 Jan 2010 | 11:01 pm Zee Q3 net up 74%; to hike stake in Ten SportsMumbai: Media firm Zee Entertainment on Tuesday posted a 74.49% jump in its net profit at Rs146.4 crore for the December quarter, and said it will consolidate its stake in Ten Sports at 95%. However, the total income of the company has declined to Rs563.2 crore for the third quarter ended 31 December 2009, from Rs585.7 crore in the same period previous year, Zee Entertainment Enterprises (ZEE) said in a filing to the Bombay Stock Exchange. “Zee’s performance over the last couple of quarters is reflective of its ability to grow viewership and revenues even under difficult market conditions. Now that the economy and sentiments have improved, we will continue building our product portfolio for creating value in the long-term,” ZEE chairman Subhash Chandra said. On the standalone basis, the firm posted a net profit of Rs147.9 crore for the Q3, nearly a three-fold jump from the same period last year. Zee said that “the Board of Directors have approved, acquisition of additional 45 per cent equity stake in Taj TV Ltd, Mauritius, the owners of Ten Sports channel, through its overseas subsidiary (Zee Sports International Ltd Mauritius)”, from Bukhatir Group (Bukhatir) for a consideration of $44.145 million (about Rs201 crore). With the said acquisition Zee’s stake in Ten Sports would rise to 95% from 50% it currently holds in the company. Further, the board has also approved the acquisition of the majority stake (100%) in the Indian arm of Taj TV, Taj Television (India), making it a wholly-owned subsidiary of the company. In November 2006, Zee Entertainment through its overseas subsidiary had bought 50% stake in Ten Sports channel, and 50% stake in Taj Television India Pvt Ltd, a distribution arm of Ten Sports in India. Shares of Zee Entertainment were trading at Rs279.80 on the BSE, down 2.25% from its previous close. Source: LatestNews-Home - Livemint.com | 18 Jan 2010 | 11:01 pm Inflation may touch double digits by March - Economic Times
Source: Business - Google News | 18 Jan 2010 | 10:59 pm Sania’s singles campaign over in Aus OpenMelbourne: Sania Mirza crashed out of singles event of the Australian Open after suffering a straight-set defeat in the first round at the hands 26th seed Aravane Rezai of France. The unseeded Indian lost her opening round 4-6 2-6 in one hour and nine minutes to world number 27 opponent at Melbourne Park. The first set could have gone either way with both the players getting an equal number of opportunities to break. However, Sania missed all the four breakpoints while the French rode on one break to shoot into lead. In the second set too, Sania got four chances to break her rival but could convert just one while she dropped her serve thrice. Now Sania would look to do well in the women’s doubles event where she has been seeded 10th along with her Spanish partner Virginia Ruano Pascual. Their first round opponents are Yayuk Basuki of Indonesia and Kimiko Date Krumm of Japan. Source: LatestNews-Home - Livemint.com | 18 Jan 2010 | 10:45 pm Markets see-saw; metals in favourMumbai: Indian shares lacked solid direction as they bounced around their previous close on Tuesday morning, capped by weaker Asian markets although underlying sentiment remained positive on robust earnings reports. Leading outsourcers Tata Consultancy Services and Infosys Technologies were down 0.9% and 0.5% respectively, but are still up 11% and 7% respectively since Infosys’ results on 12 January. By 10:07am, the 30-share BSE Index was down 0.08% at 17,627.54, with half of its components declining. The 50-share NSE index was down 0.1% at 5,271.50. “There are more positives to support an upward move in the market in the near term than negatives,” said Rakesh Rawal, head of private wealth management at Anand Rathi Financial Services. “December quarter results, outlook for economic growth, clearly point to an upward movement,” said Rawal. India’s gross domestic product growth is expected to accelerate in 2010 from 2009, Minister of Commerce and Industry, Anand Sharma said. Base metals prices rallied, helped by a weaker dollar and optimism about Chinese imports. Non-ferrous metals producer Sterlite Industries was up 1.6% at Rs880.95, and aluminium maker Hindalco Industries climbed 0.5% to Rs168.10. Tata Steel, the world’s eighth-largest steel maker, climbed 0.7% to Rs642. Top private sector iron ore miner Sesa Goa rose 1.2% to Rs414.80 after its standalone net profit for the December quarter rose 29%. In the broader market, gainers led losers by nearly 2:1 on volume of 128 million shares. Source: Home - Livemint.com | 18 Jan 2010 | 10:31 pm Samsung aims at 15% of compact camera marketSeoul: Samsung Electronics Co. Ltd’s camera-making affiliate aims to increase market share in its stronghold compact cameras and is banking on a hybrid model for growth, its chief executive said on Tuesday. In cameras South Korean technology giant Samsung competes with better known Japanese brands such as Canon Inc, Sony Corp. and Nikon. The global digital camera market was hit by the worldwide downturn last year, suffering a 7% fall in volume to 129 million units, according to Samsung. Revenue also dropped about 20% to $30 billion in 2009 amid competition and falling prices. Samsung Digital Imaging aims to claim 15% of the global compact camera market by the end of 2010, CEO Park Sang-jin told a news conference. The company had about 12% of the global compact camera market in 2009, up from 10.8% in 2008. Park declined to give a revenue target or other forecasts. He was speaking at the launching of Samsung’s new camera NX10, which features a compact body and exchangeable lenses. Samsung is pinning hopes on the new model, expecting the global market for such hybrid cameras to reach 1 million in 2010 and 5 million in 2012. Analysts say in the long term Samsung’s outlook depends on entering the digital single lens reflex (DSLR) camera market, a small but a faster-growing and more profitable segment than compact cameras. Samsung Electronics is set to absorb Samsung Digital Imaging this year to improve management efficiency. Source: LatestNews-Home - Livemint.com | 18 Jan 2010 | 10:29 pm Samsung aims at 15% of compact camera marketSeoul: Samsung Electronics Co. Ltd’s camera-making affiliate aims to increase market share in its stronghold compact cameras and is banking on a hybrid model for growth, its chief executive said on Tuesday. In cameras South Korean technology giant Samsung competes with better known Japanese brands such as Canon Inc, Sony Corp. and Nikon. The global digital camera market was hit by the worldwide downturn last year, suffering a 7% fall in volume to 129 million units, according to Samsung. Revenue also dropped about 20% to $30 billion in 2009 amid competition and falling prices. Samsung Digital Imaging aims to claim 15% of the global compact camera market by the end of 2010, CEO Park Sang-jin told a news conference. The company had about 12% of the global compact camera market in 2009, up from 10.8% in 2008. Park declined to give a revenue target or other forecasts. He was speaking at the launching of Samsung’s new camera NX10, which features a compact body and exchangeable lenses. Samsung is pinning hopes on the new model, expecting the global market for such hybrid cameras to reach 1 million in 2010 and 5 million in 2012. Analysts say in the long term Samsung’s outlook depends on entering the digital single lens reflex (DSLR) camera market, a small but a faster-growing and more profitable segment than compact cameras. Samsung Electronics is set to absorb Samsung Digital Imaging this year to improve management efficiency. Source: Home - Livemint.com | 18 Jan 2010 | 10:29 pm Kraft, Cadbury discuss possible $19 billion deal: SourcesUS-based Kraft Foods Inc and Britain's Cadbury Plc are holding talks about a potential friendly deal to create the world''s largest confectionery group.Source: Daily News & Analysis: Money News | 18 Jan 2010 | 10:23 pm Rupee little changed; global cues eyedMumbai: The Indian rupee was little changed in early deals on Tuesday, as local shares flipped between positive and negative territory though in a narrow range. At 10:45am, the partially convertible rupee was trading at Rs45.640/645 per dollar, off an early high of Rs45.55 and unchanged from Monday’s close. “Indian stocks lack direction and this could continue till the UK and European stock markets open,” said Sudarshana Bhat, chief currency dealer at state-run Corporation Bank. “Till then the rupee is expected to stay rangebound.” Once the rupee breaks Rs45.62 per dollar, Bhat said he expects month-end demand for the dollar to take it to Rs45.69. Indian shares were down 0.18%. Traders said London shares might be boosted by views on a possible stronger-than-expected recovery in the UK and this in turn might support Indian equities. “Also, the dollar might weaken against the pound on this news and this might boost the rupee,” Bhat said. The index of the dollar against six major currencies was down 0.06%. One-month offshore non-deliverable forward contracts were quoted at Rs45.680/715, weaker than the onshore spot rate. In the currency futures market, the most traded near-month contracts on the National Stock Exchange and MCX-SX were both quoting at Rs45.67, with the total traded volume on the two exchanges at about $1.33 billion. Source: Home - Livemint.com | 18 Jan 2010 | 10:10 pm Gold edges higher on weak dollarMumbai: India gold futures edged higher on Tuesday helped by a weaker dollar overseas, which enhances the yellow metal’s appeal as an alternative investment, analysts said. The most-traded February gold contract on the Multi Commodity Exchange was trading 0.20% higher at Rs16,868 per 10 grams at 10:28am. The US dollar drifted lower on Tuesday as equity markets stabilised and worries over Greece’s fiscal woes eased just a little, favouring riskier trades in commodities and related currencies. “Currently a weaker dollar is helping gold, there is still more room left (in gold) on the upside,” said Debjyoti Chatterjee of ADMISI Commodities. “Gold may be restricted in between Rs16,790-17,000 today,” said Chatterjee. Open interest for February gold on MCX was at 15,268 lots, down from 15,417 a day earlier. Gold may trade in the range of Rs16,750-16,950, said Tejas Seth, senior analyst with SMC Global. Source: LatestNews-Home - Livemint.com | 18 Jan 2010 | 10:05 pm Sensex up 23 points in opening tradeThe Bombay Stock Exchange benchmark Sensex moved up for the second consecutive day today, gaining nearly 24 points in early trade on continued buying by funds and retail investors supported by firming Asian bourses. Source: HindustanTimes.com - Top Business News Headlines | 18 Jan 2010 | 9:58 pm Oil rebounds from $78 on China growth forecastsSingapore: Oil prices rose above $78 on Tuesday on expectations that Chinese economic indicators to be published this week will signal strong demand growth from the world’s second-largest oil consumer. China’s industrial output probably jumped by 20% in the year to December from November’s figure of 19.2%, a Reuters survey showed. That would be the fastest pace since February 2006. Front-month US crude futures settled on Friday below the 50-day moving average for the first time in three weeks and bounced back, setting an important support level at $78, said Mark Pervan, senior commodities analysts at ANZ. US crude futures for February delivery climbed as much as 68 cents from Friday’s close of $78 and were trading up 25 cents at $78.25 by 8:48am. They touched a three-week intraday low of $77.07 on Monday. Oil prices are still nearly 46% off their July 2008 high of more than $147 a barrel. NYMEX will combine prices for Monday and Tuesday into a single trading session because of the Martin Luther King Day holiday. “There is growing expectation that the Chinese data will surprise on the upside,” said Pervan from Melbourne, Australia. “This means a reasonably strong commodities markets and oil is taking a lead from that.” A weaker dollar encouraged riskier trades in commodities. “That is also positive for the oil market,” Pervan added. The NYMEX February contract expires on Wednesday. March futures, the front-month contract as of Thursday, rose 23 cents to $78.60 a barrel. The dollar was lower at ¥90.65, hovering near a four-week low of 90.55. London Brent crude futures for March delivery increased 2 cents to 77.12, after trading little changed on Monday. A higher-than-expected figure for China’s industrial output could be interpreted as a reason for China’s central bank to tighten monetary policy, especially after it announced higher reserve requirements last week. But the bearish effect of tightening measures on energy consumption will be more than compensated by sustained strong economic growth, Pervan said. The Chinese economic data, including inflation, producer prices and retails sales, will be published on Thursday. China’s crude oil imports will probably rise 15% this year from 2009 as the country launches the second phase of its state petroleum reserve, according to China Oil, Gas & Petrochemicals, a report published by the state-run Xinhua news agency. “The next flag for oil prices may be Chinese growth going stronger that we are thinking,” Pervan said. A moving average is a graph indicator that traders use to determine potential turning points for prices. It represents the average settlement price for whatever number of days is chosen before the current date. The 50-day moving average for the front month US crude futures contract currently stands at $78.04. The International Energy Agency (IEA) says Opec will probably decide to hold production steady at its next meeting in March. The oil market is “pretty well supplied,” said IEA Deputy Executive Director Richard Jones. Source: LatestNews-Home - Livemint.com | 18 Jan 2010 | 9:52 pm Rupee gains 7 paise at 45.57 a dollarDealers said dollar's weakness against other Asian currencies and continued capital inflows by overseas funds into equities, supported the rupee sentiment.Source: Daily News & Analysis: Money News | 18 Jan 2010 | 9:38 pm Rupee gains seven paise against dollar - The Hindu
Source: Business - Google News | 18 Jan 2010 | 9:37 pm Rupee gains seven paise at 45.57 a dollarThe rupee today appreciated by seven paise to 45.57 a dollar in early trade in line with other firming Asian currencies amid higher capital inflows by foreign funds.Source: India Business News | Business News - Times of India | 18 Jan 2010 | 9:33 pm Profit selling pulls market down at mid-sessionThe Sensex dipped by nearly 71 points at mid-session today on emergence of profit selling in heavy-weight stocks.Source: Daily News & Analysis: Money News | 18 Jan 2010 | 9:20 pm Japan Airlines set for bankruptcy filingJapan Airlines, a once-venerable flag carrier now crippled by massive debts, was expected to file for bankruptcy protection Tuesday in one of the country's biggest corporate failures in decades. Source: HindustanTimes.com - Top Business News Headlines | 18 Jan 2010 | 9:05 pm HDFC Standard Life names Amitabh Chaudhry CEOChaudhry belongs to the fame club of having an undergraduate engineering degree from BITS Pilani and an MBA from IIM Ahmedabad.Source: Daily News & Analysis: Money News | 18 Jan 2010 | 2:29 pm Airports Authority of India eyes Rs 150 crore from user feeCharges domestic passengers Rs 150 and international fliers Rs 1,000 at Jaipur airport.Source: Daily News & Analysis: Money News | 18 Jan 2010 | 2:25 pm Deposit insurance corporation must settle claims fastA computerised depositors' database and computerisation of the process of filing and processing claims are the two main requirements for this.Source: Daily News & Analysis: Money News | 18 Jan 2010 | 2:25 pm Planning Commission set to rate ministriesThe ministries, which have already exhausted their 11th Plan (2007-2012) expenditure, should ideally not get an increase in the budgetary allocation.Source: Daily News & Analysis: Money News | 18 Jan 2010 | 2:19 pm Sterlite Q3 net jumps 3-fold to Rs 74 croreGlobal provider of optical fibres Sterlite Technologies said its net profit jumped over three-fold to Rs 73.7 crore for the quarter ended December 31, 2009, over same period last year.Source: India Business News | Business News - Times of India | 18 Jan 2010 | 1:06 pm Lateral hires getting good hikesAttrition's inching up again. And lateral hires the experienced folk are once again getting good salary hikes. That may not be good news for companies, but for employees, who went through some very trying times last year, it's just the recovery they were praying for.Source: India Business News | Business News - Times of India | 18 Jan 2010 | 12:58 pm CIL lowers its production targetState-owned Coal India Ltd has revised its production target to 486 million tonnes from 520 mt by 2012 as delay in getting environment and forest clearances for some of its projects have affected production, company chairman Partha S Bhattacharyya has said.Source: India Business News | Business News - Times of India | 18 Jan 2010 | 12:57 pm Tough flight for aspiring pilotsFor all those aspiring to be pilots, the going is getting tougher. Earlier, a simple commercial pilot's licence (CPL) and a multi-engine rating was enough for a candidate to qualify for an interview in an airline.Source: India Business News | Business News - Times of India | 18 Jan 2010 | 12:55 pm Dubai World debt up for sale, says reportDubai World's bank creditors have offered their loans for sale ahead of the restructuring of the conglomerates debts, in a bid to reduce exposure, says a media report.Source: India Business News | Business News - Times of India | 18 Jan 2010 | 12:55 pm IDBI Bank may buy Kerala-based Federal BankIDBI Bank, which had acquired United Western Bank a few years ago, has been on the look out for another private sector bank with a strong deposit-base and technology advantage.Source: India Business News | Business News - Times of India | 18 Jan 2010 | 12:49 pm 'Interest rates unlikely to rise'Union Bank of India chairman and managing director M V Nair though refused to speculate on the issue of measures that would be taken by RBI in its review of the credit policy, however, said that it would not lead to increase in the interest rates as there is enough liquidity in the system.Source: India Business News | Business News - Times of India | 18 Jan 2010 | 12:45 pm China tried hacking into our computers: NarayananLondon: Chinese hackers tried to break into computers in the office of India’s national security adviser and other government departments last month, India’s security chief M.K. Narayanan told ‘The Times’.  Cyber threat: National security adviser M.K. Narayanan. PIB Narayanan said his office and other government departments were targeted on 15 December, the same date that US companies reported cyber attacks from China. He said the attack came in the form of an email with a portable document format file attachment containing a Trojan virus, which allows remote computer access. The virus was detected and officials were told not to log on until it was eliminated, he said. “People seem to be fairly sure it was the Chinese. It is difficult to find the exact source but this is the main suspicion. It seems well-founded,” he said, adding that India was cooperating with the US and UK to bolster its cyber defences. Source: LatestNews-Home - Livemint.com | 18 Jan 2010 | 12:18 pm Brokers pay less, go regional to be NSE and BSE membersWith the networth criteria at the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) being high, brokers are taking the regional route to become trading members of the two national exchanges.Source: Business Standard | Front Page Headlines | 18 Jan 2010 | 12:07 pm FM wields deficit stick on 3G bidFinance Minister Pranab Mukherjee has asked Communications Minister Andimuthu Raja to complete the auction of the third generation (3G) spectrum within the agreed deadline (February 15), so that the revenue from it can be reflected in the Union Budget for 2009-10. Mukherjee had earmarked Rs 30,000 crore as revenue from 3G auction, which has already been delayed by a year, in the Budget.Source: Business Standard | Front Page Headlines | 18 Jan 2010 | 12:06 pm Runway shutdown to upgrade for A380s may clog IGI airportTravellers flying in and out of New Delhis Indira Gandhi International Airport (IGI) can expect more congestion for six months starting March, when one of the three runways (runway 28) shuts down to upgrade for Airbus A380 and Boeing 787 Dreamliner.Source: Business Standard | Front Page Headlines | 18 Jan 2010 | 12:01 pm 12% service tax likely to returnThe government may take the first step towards fiscal consolidation in Budget 2010-11 by partially rolling back tax cuts given to the industry last year. The service tax rate may be restored to 12 per cent, while excise duty could be increased marginally.Source: Business Standard | Front Page Headlines | 18 Jan 2010 | 11:58 am TRAI gets time for DTHThe Supreme Court on Monday extended its deadline for Telecom Regulatory Authority of India (TRAI) to fix the tariff for Direct-to-Home platform. A bench headed by Chief Justice K G Balakrishnan permitted TRAI to fix the rates by June 30.Source: HindustanTimes.com - Top Business News Headlines | 18 Jan 2010 | 10:21 am Disclose all risks in bold letters in MF ads SebiThe market regulator Sebi on Monday asked mutual fund companies to make all the disclosures about market risks involved in the products more prominent in their communication.Source: HindustanTimes.com - Top Business News Headlines | 18 Jan 2010 | 9:59 am Six equity linked plans to buy nowInvestors seeking the section 80C tax kick would do well to look at the track record of some equity-linked saving schemes (ELSS) in the market. Well-picked schemes have turned Rs 1 lakh invested 10 years ago into at least Rs 7 lakh now.Source: HindustanTimes.com - Top Business News Headlines | 18 Jan 2010 | 9:52 am GAIL ties up Rs 2 000 cr for capital expenditureGas major GAIL (India) has tied up a debt of Rs 2,000 crore towards its capital expansion plans, the PSU’s chairman and managing director B.C. Tripathi said here.Source: HindustanTimes.com - Top Business News Headlines | 18 Jan 2010 | 9:40 am Gail India Q3 net profit zooms 240 per centState-owned GAIL (India) Ltd said on Monday that its net profit has jumped 240 per cent to Rs 860 crore for the quarter ended December 31, 2009 as against Rs 345 crore in the same period last year.Source: HindustanTimes.com - Top Business News Headlines | 18 Jan 2010 | 9:34 am
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