|
|
|
|
LT eyes Rs 65000cr order inflow, listing fin arm this yrThe management at Indias engineering major, Larsen and Toubro said the company was targeting an order inflow of Rs 65,00067,000 crore in FY10. The company has already achieved orders worth Rs 45,000 crore and expects Rs 20,000 crore order inflows in Q4FY10.Source: Moneycontrol Top Headlines | 8 Feb 2010 | 7:37 am Expect to close production for FY10 at 6mt: JSW SteelJSW Steel Ltd, India\'s thirdbiggest producer, expects robust demand in the Indian markets going forward.Source: Moneycontrol Top Headlines | 8 Feb 2010 | 7:00 am Barclays poaches 3 more private bankers from UBSBarclays Wealth, the private banking arm of British bank Barclays, has hired another three bankers from UBS, adding to the 10 who were recruited in August last year.Source: Moneycontrol Top Headlines | 8 Feb 2010 | 6:09 am Nagarjuna says gets 5 orders worth Rs 5.83 bnNagarjuna Constructions Ltd said on Monday it won five orders worth Rs 5.83 billion.Source: Moneycontrol Top Headlines | 8 Feb 2010 | 5:19 am Sensex down 95 pts in early morning trade!The Bombay Stock Exchange benchmark Sensex fell by over 95 points in early morning trade on Monday on selling by funds in oil and gas, banking and IT sector stocks amid weak Asian cues.Source: Zee News : Business | 8 Feb 2010 | 5:11 am Economy likely to grow 7.2% in 2009-10: Govt!India`s economy is expected to grow at 7.2% in 2009-10, the govt said on Monday.Source: Zee News : Business | 8 Feb 2010 | 5:11 am No shutdown, Corus may sell UK plant insteadThe management of Tataowned steel company Corus has said it is open to selling a plant in Teesside, UK, for which it was considering a shutdown, CNBCTV18 reports quoting sources.Source: Moneycontrol Top Headlines | 8 Feb 2010 | 5:10 am BHEL bags $218 m power plant contractStaterun power equipment maker Bharat Heavy Electricals said on Monday it had secured a contract worth 10.16 billion rupees (USD 218 million) to build a 1,200 megawatts hydro power plant in Bhutan.Source: Moneycontrol Top Headlines | 8 Feb 2010 | 5:08 am Saving your fertility: Sperm banks now in demandMore couples than ever before are postponing pregnancy by preserving their sperms or eggsSource: Moneycontrol Top Headlines | 8 Feb 2010 | 5:08 am No plan to raise FII limit in debt: GovtThe government has no plan to raise the limit on foreign institutional investment in debt, a finance ministry official said on Monday.Source: Moneycontrol Top Headlines | 8 Feb 2010 | 5:08 am Power div to see robust jump in volumes in \'10: Lanco InfraIn an interview with CNBCTV18, J Suresh Kumar, Chief Financial Officer, Lanco Group, spoke about the latest happenings in his company and sector.Source: Moneycontrol Top Headlines | 8 Feb 2010 | 4:55 am Idea likely to exit stake in Indus Towers: SourcesCNBCTV18 learns that Idea Cellular, which holds 16% stake valued at USD 600800 million in Indus Towers, is in preliminary talks to sell part or whole of its stake in the company.Source: Moneycontrol Top Headlines | 8 Feb 2010 | 3:40 am Maruti Suzuki Expect Pressure on Margin - Wall Street Journal
Source: Business - Google News | 8 Feb 2010 | 3:23 am Nifty pulls back to end flat; PNB, RCom, Bharti gain - Economic Times
Source: Business - Google News | 8 Feb 2010 | 3:17 am Disney, Google eye deal with China bus media firmThe Disney-led consortium planned to buy a stake of between 30% and 40% in Bus Online for more than $100 million via a purchase of old and new shares.Source: Daily News & Analysis: Money News | 8 Feb 2010 | 3:03 am Jubilant lists at 11% premium - Livemint
Source: Business - Google News | 8 Feb 2010 | 3:00 am Markets recover from day’s losses to end flatMumbai: Indian shares recovered from early lows and provisionally rose 0.2% in seesaw trade on Monday, supported by gains in European equities. Telecom companies led the rise. The 30-share BSE index ended up 0.13% or 19.96 points at 15,943.02, with 16 components gaining. The 50-share NSE index closed up 0.02% at 4,760.40. Source: Home - Livemint.com | 8 Feb 2010 | 2:57 am Cheer up! Realty rates will come down by 2011-endCRISIL report says there will be an oversupply of residential units in the city by end of 2011.Source: Daily News & Analysis: Money News | 8 Feb 2010 | 2:56 am Greece to levy 40% tax rate on more earnersGreece's planned tax reforms are part of a deficit-reduction plan, endorsed by the European Commission, to return to fiscal health.Source: Daily News & Analysis: Money News | 8 Feb 2010 | 2:50 am Nokia to revamp key Salo phone plant in FinlandSalo -- one of the nine major factories Nokia has around the world -- is the last major handset plant in Western Europe, and focuses on more advanced phone models.Source: Daily News & Analysis: Money News | 8 Feb 2010 | 2:47 am Oil rises above $72 in rebound after sharp slideLondon: Oil rose almost $1 a barrel on Monday to above $72 as prices rebounded from the previous session’s decline to a near two-month low, supported by a weaker US dollar. Crude also recovered as European stocks bucked a three-day losing run, helping stabilise global shares, although euro zone sovereign debt worries remained close to the surface. Metals including copper rose. “The market is bouncing a little bit, which you’d expect after Friday’s extremely overdone sharp fall,” said Christopher Bellew, a broker at Bache Commodities.“ “Although the market did appear to break a lot of technical support on Friday, I think this was a bit of a trap and we’ll make our way back higher.” US crude for March was up 93 cents at $72.12 a barrel by 3:13pm. The contract fell as low as $69.50 on Friday, the lowest since Dec. 15. Brent crude rose 85 cents to $70.44. A cold snap in the US mid-Atlantic region, an area heavily dependent on home heating oil and natural gas supplies, and escalating tensions between Iran and western nations also lent support to prices. The US dollar was weaker against a basket of currencies. Dollar weakness makes crude and other dollar-priced commodities cheaper for holders of other currencies. Major commodity markets are testing 200-day moving averages after sharp sell-offs in the past three weeks, but important support level appears to have held for US crude, as well as copper and gold. “For now, we would venture to say that a measure of stability could be with us over the next day or two,” said Edward Meir, analyst at MF Global, in a report. “However, most charts still look precarious and at best, rallies could return values back over broken trend lines with little assurance that these gains will be sustained.” A blizzard dumped 2 ft (0.5m) of snow across much of the U.S. mid-Atlantic on Saturday, threatening record snowfall and leaving tens of thousands without power. The United States and Germany have threatened carefully targeted new sanctions against Iran, which gave instructions on Sunday for the production of higher-grade nuclear reactor fuel. Oil fell 2.7% on Friday as a tepid employment report in the United States, the world’s top energy consumer, heightened worries of a sluggish recovery in fuel demand. It has lost nearly 10% this year. Source: Home - Livemint.com | 8 Feb 2010 | 2:46 am Disney, Google eye deal with China bus media firm - sourcesHONG KONG/SHANGHAI (Reuters) - A consortium led by Walt Disney Co is in advanced talks to buy into China's largest in-bus digitial media and advertising company, a deal that could offer the U.S. entertainment giant a new platform to promote the Mickey Mouse in China, sources said.Source: Reuters: Money News | 8 Feb 2010 | 2:39 am Fame India flouting takeover norms: Reliance Mediaworks - NDTV.com
Source: Business - Google News | 8 Feb 2010 | 2:34 am Kingfisher Airlines hires US' Seabury to advise on recastSeabury provides expertise to the aviation and aerospace industries in areas of strategy, business planning, network development and fleet optimisation.Source: Daily News & Analysis: Money News | 8 Feb 2010 | 2:30 am Maruti eyes 100pc jump in exports in FY 10The country's largest carmaker, Maruti Suzuki India, on Monday said it expects to double its exports to about 1.6 lakh units this fiscal, while it is aiming over 20 per cent growth in its overall sales.Source: HindustanTimes.com - Top Business News Headlines | 8 Feb 2010 | 2:23 am India can play key role in global tax reform body: OECDNew Delhi: New Delhi could play a leading role in the proposed global task force on tax and development, being set up by OECD, a top official of the grouping has said. The Organisation for Economic Cooperation and Development (OCED), primarily a grouping of the rich nations, would be establishing a task force to mainly help the developing world benefit from the international tax environment. When asked about the proposed informal task force, the official said the membership would be around “20 to 30”. “We will discuss New Delhi’s possible role with its administration to establish if it is interested... If India joined (the task force), they would take a leading role in sharing their experience and helping to achieve objectives,” the official told PTI in an email statement from Paris. According to the OECD, the task force would help in implementing a coherent approach towards global tax matters, by engaging the developing nations and other key stakeholders including NGOs and businesses. The official also noted priority of the task force will include developing a work programme to help the developing nations benefit from new international environment in respect of tax evasion and improving transparency in matters of banking and finance, among others. ”The OECD task force will convene in early 2010 as an informal group representative of all stakeholders, to develop clear and effective mechanisms for implementation and avoid duplication. “The informal task force will begin by mapping out the existing international efforts relating to tax and development,” OECD had said late last month. Regarding the participation of NGOs, the official said even though the number of such players in the forum is yet to be decided, around three NGOs would be there. The decision to set up the forum was taken at the joint meeting on tax and development between the committee on fiscal affairs and the development assistance committee of the grouping last month. India is already a vice-chair of a global peer review group that monitors the progress made by various countries in improving transparency and exchange of tax information. The peer review group is part of the ‘Global Forum on Transparency and Exchange of Information for Tax Purposes’, which is a grouping of the nations that work towards establishing international tax norms. Source: LatestNews-Home - Livemint.com | 8 Feb 2010 | 2:23 am Government pegs economic growth at 7.2% this fiscalAccording to advance estimates released by the Central Statistical Organisation, farm output is estimated to contract by 0.2% and services to record moderate growth.Source: Daily News & Analysis: Money News | 8 Feb 2010 | 2:22 am G7 confident EU can solve Greece woes, says Germany - reportBERLIN (Reuters) - Members of the Group of Seven industrialised nations are confident that the European Union will sort out Greece's debt problems, German Finance Minister Wolfgang Schaeuble was quoted as saying on Monday.Source: Reuters: Money News | 8 Feb 2010 | 2:17 am Apr-Jan steel consumption up 7.9%New Delhi: Steel consumption rose 7.9% to 45.93 million tonne during April-January in the current financial year over the same period a year ago on the back of steady rise in demand from sectors including automobile, white goods and construction. Steel consumption during the corresponding period a year earlier stood at 42.59 million tonne. However, domestic steel production rose only 3.3% during the 10 months ended January 2010 and crossed the consumption pattern at 48.81 million tonne over 47.27 million tonnes in the comparable period last year, according to provisional data of the steel ministry. Meanwhile, imports also surged 18.5% to 5.9 million tonnes during the period, thereby increasing the availability of the commodity in the market and putting pressure on domestic prices. But, exports continued to slide and fell 34.1% to 2.39 million tonne during the reporting period, reminiscent of the fact that the western market is still to recover from the economic crisis of 2008-09. Leading steel producers like Tata Steel and Rashtriya Ispat Nigam reported 12.4% growth to 4.17 million tonne and 7.6% increase to 2.4 million tonne, respectively, during April-January over the same period previous fiscal. Source: LatestNews-Home - Livemint.com | 8 Feb 2010 | 2:16 am Parikh report is bad for the country, worse for aam aadmi - Times of India
Source: Business - Google News | 8 Feb 2010 | 2:15 am GLOBAL MARKETS - Greece haunts, but European shares, euro recoverLONDON (Reuters) - European stocks bucked a three-day losing run on Monday, helping stabilise global shares although euro zone sovereign debt worries remained close to the surface.Source: Reuters: Money News | 8 Feb 2010 | 2:11 am Nagarjuna Construction bags five contracts worth Rs583 crMumbai: Nagarjuna Construction Company on Monday said it has bagged five orders worth Rs583 crore from different vendors for construction related works. The company has bagged a contract worth Rs238 crore from the director of Public Health Engineering, Kolkata for a water supply scheme, Nagarjuna Construction Company said in a filing to Bombay Stock Exchange (BSE). The project is to be completed over a period of 15 months, the filing said. The company has also gained an order worth Rs124 crore from Mahanadi Coal Fields Ltd for various construction works, including dumping and excavation, the filing added. The order is to be completed over a period of three years, it said. Further, the company has got a project worth Rs85 crore from the National Water Supply & Drainage Board, Sri Lanka for the construction of two water supply schemes over a period of 20 months, the filing said. The company has bagged another order worth Rs78 crore from the Slum Rehabilitation Authority, Nagpur for construction of tenements over a period of 18 months, it said. The company has bagged the fifth order worth Rs58 crore from SPL Realtors Private Ltd for the construction of a residential project in Bangalore over a period of 15 months. Shares of Nagarjuna Construction Company were trading at Rs155.50 on BSE, down 0.58% from its previous close. Source: LatestNews-Home - Livemint.com | 8 Feb 2010 | 2:09 am Media Roundup: 08 February 2010The Times of India: Corporate tax cut not likely in Budget 2010-11 The government may not tinker with the corporate tax rates in the Budget 2010-11 despite pressure from India Inc to slash rates or at least do away with surcharge and cess. Economic Times: Selloff parade may fetch Rs 30,000 cr in 2010-11 The government plans to raise about Rs 30,000 crore next financial year from stake sale in public sector firms to meet a significant part of the revenue shortfall, as it looks to bring down fiscal deficit from the 16-year high of 6.8% recorded this year. DNA: Why Pranab should read Singh’s 1991 speech If Finance Minister Pranab Mukherjee is looking for help in writing his 2010-11 Budget speech, here’s a suggestion: he should ask for a copy of Manmohan Singh’s Budget speech of July 24, 1991. Large chunks can be lifted verbatim. The Times of India: GST to be levied at 16%, goods to cost less for consumers The long-awaited reform of India’s indirect taxes system is set to get a major fillip, with a broad consensus forming within the finance ministry on a rate of 16% for the proposed Goods and Services Tax (GST) for both Centre and states combined. To be levied on all companies and traders with an annual turnover of Rs 10 lakh and above, this would provide a tax base of 40-45 lakh assessees and ensure that neither the Centre nor the states suffer any revenue loss. Hindustan Times: Chambers want PPP in railways With the date for tabling of the railway budget drawing near, the industry chambers are seeking greater public-private participation (PPP) in the expansion of railway infrastructure and upgradation of technology. Source: LatestNews-Home - Livemint.com | 8 Feb 2010 | 2:04 am FEATURE - Riding green wave, Philips says 'let there be LED'AMSTERDAM (Reuters) - More than a century into its existence, Philips is once again betting heavily on semiconductors. This time the consumer electronics firm is looking to harness their potential as a source of light.Source: Reuters: Money News | 8 Feb 2010 | 2:01 am Rupee off near-7-week low as shares recover - Livemint
Source: Business - Google News | 8 Feb 2010 | 1:57 am Lupin gets US FDA approval to market blood pressure capsulesMumbai: Drug maker Lupin Ltd on Monday said it has received final approval from the US drug regulator for marketing Amlodipine-Benazepril capsules, used for treating high blood pressure, in America. The company has received a final approval from the US Food and Drug Administration (US FDA) for its Amlodipine-Benazepril capsules, Lupin said in a filing to the Bombay Stock Exchange. “We are very pleased with the approval of our Amlodipine-Benazepril capsules. This is a significant approval and it broadens our growing portfolio of cardiovascular medications with a strong complement to our existing product line,” Lupin Ltd Group president and executive directors Nilesh Gupta said. The capsules are available in the strengths of 2.5mg/10mg, 5mg/10mg, 5mg/20mg and 10mg/20mg capsules, the filing added. “The approval reflects the confidence and acceptance of our facility by the FDA, as well as our unwavering commitment to quality and bringing in important products to market,” Gupta added. Source: LatestNews-Home - Livemint.com | 8 Feb 2010 | 1:52 am Kingfisher Air hires US' Seabury to advise on recastMUMBAI (Reuters) - Kingfisher Airlines Ltd has roped in U.S. firm Seabury Aviation and Aerospace to advise on restructuring its operations and help the airline boost performance on the back of a reviving domestic industry.Source: Reuters: Money News | 8 Feb 2010 | 1:51 am Fame India flouting Sebi takeover norms: Reliance MediaworksNew Delhi: Reliance Mediaworks, a part of the Reliance Anil Dhirubhahi Ambani Group, has accused Fame India of violating market regulator Sebi’s takeover norms in selling controlling stake to rival theatre chain Inox Leisure. Last week INOX Leisure had acquired 43.28% stake in Fame India for Rs66.48 crore and is making an open offer from 1 April to acquire a further 20% stake at a price of Rs51 per share. In a letter written to Fame India chief Shravan Shroff, Reliance Mediaworks CEO Anil Arjun said the company had offered to buy the promoter’s stake in the former for Rs80 per share, “representing an almost 100% premium to the prevailing market process”. “I was further shocked to see that the sale was concluded at or around the market price of Rs 44-45 per share and the entire transaction was pushed through apparently in a hasty manner,” the letter said. “...in a situation involving a listed public limited company with 57% public shareholding, there are obviously larger issues of fairness, transparency and legal compliances involved, including protection of interests of minority retail shareholders,” it added. Source in Reliance Mediaworks said, “The deal blatantly understated and flouted Sebi takeover code and we suspect collusion between same promoters and Inox. The price of Rs44 per share neither reflect share value nor control premium.” Repeated calls and mails sent to Fame India spokesperson to get the company’s comments remained unanswered. Inox officials could not be contacted for comments. Source: Home - Livemint.com | 8 Feb 2010 | 1:48 am Maruti eyes 100% jump in exports in FY10New Delhi: The country’s largest carmaker, Maruti Suzuki India, today said it expects to double its exports to about 1.6 lakh units this fiscal, while it is aiming over 20% growth in its overall sales. “Last fiscal we exported 80,000 units. We are expecting 100% growth in export this fiscal,” Maruti Suzuki India (MSI) executive officer marketing and sales Mayank Pareekh told reporters on the sidelines of an AIMA event. The company’s overseas sales growth was driven mainly by the export of its flagship model A-Star, which clocked sales of over one lakh units till December 2010, within 11 months of launch. MSI aims to cross the two lakh units of exports by 2010-11. The A-star, which is produced only in the company’s Manesar facility, is exported primarily to Europe and other countries such Chile, Angola, Saudi Arabia, Morocco, Algeria and the UAE, where it is sold as Suzuki Celerio. It also contract manufactures the model for Japanese car major Nissan, which sells it in the European market as Pixo. Recently, MSI had kick started exporting its latest model Ritz to South East Asia as well to expand its export portfolio, besides exploring the Middle East market. Commenting on the overall sales growth of the company, Pareekh said: “So far on an average we have been growing at about 20-22% this fiscal and we expect this to continue and overall for the entire fiscal we expect this level of growth.” Source: Home - Livemint.com | 8 Feb 2010 | 1:44 am Gold buying continues; rupee weighsMumbai: India gold traders continued to pick bargains on Monday afternoon as prices steadied in the vicinity of a three-week low, but a weaker rupee weighed on sentiment, dealers said. “Deals are there, but lower compared to last week as people are worried on the currency front,” said a dealer with a private bullion dealing bank in Mumbai. “There was buying on Thursday and Friday, when we sold more than 300 kgs in between $1,051-1,075 (an ounce),” said a dealer with a state-run bank, which sold more than half-a-tonne last week. International spot gold, which guides the domestic market, was trading $1,070.65/1,071.45 an ounce as against the previous close of $1,065.55/1,067.55 an ounce. Buying had picked-up in the most part of last week, dealers added. “We have advanced orders below $1,050,” said the state-run bank dealer. The Indian rupee edged lower falling to a near seven-week low tracking a more than 1 percent fall in the local sharemarket, but mixed regional peers prevented a further sharp slide. India has imported 35-40 tonnes of gold during January 1-27, up from 9.8 tonnes in the whole of the same month last year, the head of a trade body and bank dealers said. India’s wedding season will be underway in April. Source: Home - Livemint.com | 8 Feb 2010 | 1:21 am Gold buying continues; rupee weighsMumbai: India gold traders continued to pick bargains on Monday afternoon as prices steadied in the vicinity of a three-week low, but a weaker rupee weighed on sentiment, dealers said. “Deals are there, but lower compared to last week as people are worried on the currency front,” said a dealer with a private bullion dealing bank in Mumbai. “There was buying on Thursday and Friday, when we sold more than 300 kgs in between $1,051-1,075 (an ounce),” said a dealer with a state-run bank, which sold more than half-a-tonne last week. International spot gold, which guides the domestic market, was trading $1,070.65/1,071.45 an ounce as against the previous close of $1,065.55/1,067.55 an ounce. Buying had picked-up in the most part of last week, dealers added. “We have advanced orders below $1,050,” said the state-run bank dealer. The Indian rupee edged lower falling to a near seven-week low tracking a more than 1 percent fall in the local sharemarket, but mixed regional peers prevented a further sharp slide. India has imported 35-40 tonnes of gold during January 1-27, up from 9.8 tonnes in the whole of the same month last year, the head of a trade body and bank dealers said. India’s wedding season will be underway in April. Source: LatestNews-Home - Livemint.com | 8 Feb 2010 | 1:21 am Rupee off near-7-week low as shares recoverMumbai: The Indian rupee bounced off a near-seven-week low om Monday afternoon to trade marginally stronger, aided by a recovery in the domestic sharemarket and also boosted by the dollar’s fall versus major currencies. At 2:00pm, the partially convertible rupee was at Rs46.69/70 per dollar, after dropping to Rs46.90 earlier, its lowest since 23 December. It had closed at Rs46.73/74 on Friday. Indian shares were trading up 0.4%, after having dropped more than 1% earlier. The index of the dollar against six major currencies was trading down 0.3%. One-month offshore non-deliverable forward contracts were trading at Rs46.76/86, below the onshore spot rate. In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange and MCX-SX were both quoting at Rs46.7475, with the total traded volume on the two exchanges at about $3 billion. Source: Home - Livemint.com | 8 Feb 2010 | 1:17 am Jubilant FoodWorks third quarter profits surgeThe firm, which runs the Dominos Pizza chain, said the firm plans to open 65-70 new stores in the current fiscal, of which it has opened 55 as of December 31, 2009.Source: Daily News & Analysis: Money News | 8 Feb 2010 | 1:16 am Asia shares at 5-month low on Europe woesHong Kong: Asian shares fell on Monday and the euro dipped as festering debt problems in the euro zone prompted investors to shift out of riskier assets, dousing optimism over a fall in the US jobless rate last week. Japan’s Nikkei average sank to a two-month closing low as exporters like Sony Corp were clobbered by a strong yen, which has climbed to multi-month peaks as investors look for safe havens where they can ride out the recent market turmoil. Markets are worried that problems in Greece, Portugal and other weaker euro zone states could upset or derail the still fragile global economic recovery and they sold growth-linked currencies like the New Zealand dollar and the Australian dollar. European shares were seen mixed at the open. Futures for DJ Euro Stoxx slipped 0.1%, while futures for Germany’s DAX were flat and France’s CAC 40 were up 0.5% US stock futures were marginally higher. The euro fell 0.4% to $1.3619, edging back towards an 8-month low hit on Friday. The single currency has lost around 10% from a 15-month high of $1.5145 in late November. At a weekend meeting, European ministers tried to assure their counterparts in the Group of Seven that the euro zone’s debt crisis is under control and they would make sure Greece sticks to its budget-cutting plan. [ID:nN06216480] But analysts said Europe needs to go beyond words to restore confidence among investors that it will prevent a sovereign default. In Asia, losses in the energy and industrial sector dragged stocks to 5-month lows on fears that headwinds facing the global economy would dampen demand for oil and other commodities and cut corporate profits. “It is adding to the concerns investors have overall in taking more risk into their portfolios,” said Mark Konyn, who oversees about $11 billion as Asia-Pacific chief executive of RCM, a unit of Allianz Global Investors. “The lack of clarity is adding to the volatility,” he said. Japan’s Nikkei average fell 1% to close below the 10,000 mark, ending just above the crucial 200-day moving average as anxiety over Europe had investors cutting exposure. But Kenichi Hirano, operating officer at Tachibana Securities said stocks were starting to look cheap as the Nikkei’s 14-day RSI (relative strength index) was at 36 -- its lowest since late November. Anything from 30 or lower is considered oversold territory. The yen, which is widely used as a funding currency for investing in riskier higher-yielding assets, rose as these risk-trades were unwound amid the euro zone’s troubles. It has gained 4% against the dollar so far this year and is hovering near a 10-month peak against sterling and its highest in nearly seven months against the Australian dollar. Asia Pacific shares outside Japan as measured by MSCI fell 0.6% to its lowest levels since early-September. The index is down over 10% year to date and hovering just above the crucial 200-day moving average. The Thomson Reuters index of Asia ex-Japan equities fell 0.76%. Growing euro zone problems also soured the appetite for currencies like the New Zealand dollar and the Australian dollar, which are dependant on global economic growth. The kiwi fell to a low of $0.6857, just off $0.6807 struck in Friday’s offshore trade, its lowest since Sept. 4. The Aussie hovered around $0.8660 for much of the session, above a four-month low of $0.8576 hit on Friday. Last week, the cost of insuring debt from the three eurozone countries - Greece, Portugal and Spain - jumped as Greece’s debt woes was put on the agenda of the meeting of G7 rich nations’ finance ministers and central bankers in Canada. But analysts say a fears of default are unfounded. “Our baseline scenario is that a sovereign default by an EU member country would be averted by EU action. We think there’s limited juice left in the eurozone break-up trade (so) we advise those not yet in to stay out,” said ING in a client note. Source: Home - Livemint.com | 8 Feb 2010 | 1:08 am Jubilant lists at 11% premiumMumbai: Jubilant FoodWorks, which runs the Domino’s Pizza chain in India, on Monday got listed at a premium of 11.44% at Rs161.60 on the Bombay Stock Exchange (BSE) against its issue price of Rs145. The company also said that it plans to expand both in India and abroad. The scrip opened at Rs161.60 and scaled a high of Rs198.50, up 37% over its issue price on the BSE. On the National Stock Exchange (NSE), the scrip got listed at a premium of 10.34% at Rs160, shooting up to Rs198 during morning trade. In afternoon trade, the scrip was trading at Rs201 on the BSE, up 38.62% over its issue price. “We will continue to open new stores in India. We also plan to open new stores in Bangladesh and Sri Lanka in the coming days,” Jubilant Organosys chairman and managing director Shyam S Bhartia told reporters. The company has five stores in Sri Lanka and has opened 55 stores this fiscal against its plans of 65-70, he said. “The consumption of pizzas in the country is only about 2% of the overall food market. We are looking at expanding the market by opening new stores pan-India... Domino’s will continue to increase the number of its stores in the country in the coming days,” he said. Source: LatestNews-Home - Livemint.com | 8 Feb 2010 | 1:07 am Maruti eyes 100% jump in exports in FY'10The country's largest carmaker, Maruti Suzuki India, today said it expects to double its exports to about 1.6 lakh units this fiscal, while it is aiming over 20% growth in its overall sales.Source: India Business News | Business News - Times of India | 8 Feb 2010 | 12:58 am Toyota readies global Prius recall - sourceTOKYO (Reuters) - Toyota Motor Corp is preparing a recall of its new Prius hybrid car in Japan as early as Tuesday, followed by similar steps in the United States, Europe and other markets, a source familiar with its plans said.Source: Reuters: Money News | 8 Feb 2010 | 12:29 am Kingfisher Air hires US' Seabury to advise on recast - Economic Times
Source: Business - Google News | 8 Feb 2010 | 12:27 am ‘Toyota readies global Prius recall’Tokyo: Toyota Motor Corp is preparing a recall of its new Prius hybrid car in Japan as early as Tuesday, followed by similar steps in the United States, Europe and other markets, a source familiar with its plans said. Toyota, which has earned a reputation as the green-vehicle front-runner with the fuel-sipping Prius, has said it is discussing with safety authorities worldwide how to fix a software glitch that delays braking on the model in certain road conditions. Toyota president Akio Toyoda apologised on Friday for a separate series of recalls covering more than 8 million vehicles, saying the company was rushing to reach a decision on the Prius as it seeks to restore consumers’ confidence in the brand. Toyota has come under intense scrutiny, with US safety authorities and members of the Obama administration accusing it of responding too slowly on problems related to uncontrolled acceleration that have been linked to up to 19 crash deaths in the United States over the past decade. An announcement to recall the Prius, cumulative global sales of which total more than 300,000 units, will likely come from a filing with Japan’s transport ministry on Tuesday, followed by plans elsewhere, the source said. The Prius was Japan’s top-selling car in 2009 and is arguably Toyota’s most important model, as car makers around the globe prepare for a new era in low-emission vehicles. “We think (Toyota’s) start of efforts to resolve quality problems is a step forward in terms of regaining investor confidence,” JPMorgan auto analyst Kohei Takahashi said in a report, referring to Toyota’s announcement on Friday to set up a committee to review its quality controls. Other Hybrids Affected Toyota will likely announce a recall of the 2010 Prius as early as Tuesday, said the source, who asked not to be identified before an official announcement. The recall could also include the Toyota Sai and its sister model under the premium Lexus brand, HS250h, which debuted last year and use the same brake system as the third-generation Prius. A Toyota spokeswoman said the company was still discussing plans with safety authorities in the United States and Japan. The new Prius model is sold in some 60 countries. The Sai sedan is the second hybrid-only model under the Toyota brand, and the HS250h is the automaker’s first dedicated hybrid model under the Lexus brand. As of the end of December, Toyota sold 15,500 HS250h cars globally since its release in July. Sales of Sai, a Japan-only model released in December, came to 3,800 units in the first month, Toyota said. US competitor Ford Motor Co said last week it was fixing up to 17,600 hybrid sedans for similar braking problems. Toyota shares fared better on Monday than other Japanese auto stocks, which were hit by a stronger yen. The stock fell 1.1%, compared with a 2.1% drop in Honda Motor shares and a 2.6% loss in Nissan Motor. The broader Tokyo market fell 1%. On Friday, Toyota’s US-listed shares jumped 4% following the news conference by the president Toyoda. The stock has lost more than a fifth of its value since the world’s biggest automaker expanded a recall related to unintended acceleration to millions of vehicles globally. Lawsuits Grow In addition to the cost of repairing the vehicles, Toyota faces a rise in indirect spending, including from a likely rise in lawsuits. At least 30 class-action lawsuits have been filed against the Japanese automaker in the United States, as law firms across the nation call out to consumers to capitalise on Toyota’s vehicle defects. San Diego law firm Steiner & Associates, for one, has a website up and running that asks: “Have You or Loved One Been Injured or Killed in an Accident Due to a Defective Gas Pedal or Floor Mat? You may be entitled to substantial compensation!” Toyota had skirted a full investigation into unintended acceleration of its vehicles and faced a risk of more recalls, according to a consumer advocate set to testify this week in a US congressional probe over safety issues. “I suspect that we are going to see a series of recalls appear over a period of time here, certainly over the next year, and they are going to address varying issues and varying vehicles,” said Sean Kane, founder of the Safety Research & Strategies Inc, a consumer safety group. Toyota has said it found no evidence of any safety problems beyond those covered by recalls under way. Source: Home - Livemint.com | 8 Feb 2010 | 12:27 am Toyota faces fresh questions over recall responseToyota’s handling of potentially deadly gas pedal defects came under fresh scrutiny on Monday after the company said it had fixed the flaw in Europe last year but initially decided against a global recall.Source: HindustanTimes.com - Top Business News Headlines | 8 Feb 2010 | 12:10 am Jubilant FoodWorks lists; Q3 profits surgeMUMBAI (Reuters) - Indian fast food chain Jubilant FoodWorks Ltd, which listed earlier on Monday, reported a surge in Oct-Dec net profit to 113.7 million rupees, compared with 17.7 million rupees a year ago.Source: Reuters: Money News | 8 Feb 2010 | 12:06 am Economy seen growing at 7.2 pct in FY10 - govtNEW DELHI (Reuters) - The Indian economy is expected to grow at 7.2 percent in 2009/10, the government said on Monday, reinforcing the possibility it may start to unwind its fiscal stimulus in the forthcoming budget.Source: Reuters: Money News | 8 Feb 2010 | 12:02 am Chart Focus: Karnataka Bank - SellInvestors with medium-term perspective can consider selling the stock of Karnataka Bank (RsSource: Business Line - Home Page | 8 Feb 2010 | 12:00 am Gold may test support levelsComex gold futures ended sharply lower on the back of risk aversion and economic uncertainties tied to the EuroSource: Business Line - Home Page | 8 Feb 2010 | 12:00 am Bt brinjal holds the key to progress in GM rice trialsThe Government's decision whether to allow or not allow commercial cultivation of Bt brinjal holds the key for further trials in genetically modified (GM)Source: Business Line - Home Page | 8 Feb 2010 | 12:00 am Small hydro projects, captive units face regulatory whammySmall hydro projects and captive units are getting the wrong end of the regulatory stick – ironically at a time when the Government is making concerted attempts to bring on board all available generating capacities to tide overSource: Business Line - Home Page | 8 Feb 2010 | 12:00 am Subsidiaries do better, but a drag on parents' growthIf you are looking to invest in a stock, better wait for the company to declare its consolidated numbers before taking theSource: Business Line - Home Page | 8 Feb 2010 | 12:00 am Weak trend persists in Tata Motors, Reliance IndI have bought Tata Motors March futures at Rs 676. How will the stock behave in the short term? – MrSource: Business Line - Home Page | 8 Feb 2010 | 12:00 am ‘Telecom growth story intact, tariffs unrealistic'Mr Sanjay Kapoor has taken over as Chief Executive Officer of Bharti Airtel at a time when the telecom industry is facing its stiffest crisis, in terms declining revenues, lower minutes of usage and hyper competition. Business Line spoke to theSource: Business Line - Home Page | 8 Feb 2010 | 12:00 am Diesel compact cars face muddled levy structureThe diesel version of the Nano, scheduled to debut in the second half of 2010-11, could be the worst hit if the Centre accepts the Kirit Parikh panel's recommendation of imposing a flat Rs 80,000 excise levy on all dieselSource: Business Line - Home Page | 8 Feb 2010 | 12:00 am Day Trading GuideThe stock is still under selling pressure. Utilies rallies to sell the stock with stiff stop-loss at RsSource: Business Line - Home Page | 8 Feb 2010 | 12:00 am Gold prices collapse but investor interest intactRenewed concerns over the macro-economy exacerbated by Euro area debt concerns and higher-than-expected jobless claims in the US that raised fresh doubts over the recovery of US labour market and the dollar strengthening to its highest levelsSource: Business Line - Home Page | 8 Feb 2010 | 12:00 am Australia tightens immigration rules; 20,000 applicants affectedMelbourne: Australia on Monday tightened its immigration rules rejecting over 20,000 migrant applicants from foreign students, including Indians, seeking permanent residency through hairdressing, cookery and other courses. The fresh system has set a new list of occupations in demand and has favoured skilled workers including nurses, general medical practitioners, mechanical engineers and teachers instead of groups such as cooks and hairdressers. The tough immigration rules are aimed at curbing the activities of unscrupulous agents who promise students taking up courses here with automatic entitlement to permanent residency. “It does not and it will not,” immigration minister Chris Evans said on such claims. “The current points test puts an overseas student with a short-term vocational qualification gained in Australia ahead of a Harvard-educated environmental scientist,” Evans said in a statement. Evans said the reforms, which follow a sudden rise in Australia’s Indian population and a spate of attacks on students from the country, would give priority to migrants with higher skills. “We had tens of thousands of students studying cookery and accounting and hairdressing because that was on the list, those subjects were on the list and that got them through to permanent residency,” he told ABC radio. Australia has over one lakh Indian students, about 19% of total foreign enrolments. Source: Home - Livemint.com | 7 Feb 2010 | 11:50 pm Economy to grow by 7.2% in 2009-10: Govt - Times of India
Source: Business - Google News | 7 Feb 2010 | 11:39 pm Economy seen growing at 7.2% in FY10: GovernmentManufacturing, one of the main drivers behind the GDP growth, is seen growing at 8.9% in 2009-10.Source: Daily News & Analysis: Money News | 7 Feb 2010 | 11:35 pm Montek Singh sees softening food prices on better outputNEW DELHI (Reuters) - India's farm output in the year to March 2010 will be better-than-expected and could lead to a softening of food prices, Montek Singh Ahluwalia, deputy chairman of the Planning Commission, said on Monday.Source: Reuters: Money News | 7 Feb 2010 | 11:27 pm Economy to grow by 7.2% in 2009-10: GovtThe govt on Monday estimated the economy to grow by 7.2% in FY 2009-10, against 6.7% a year ago, despite contraction in farm production. The economy is likely to grow at a higher pace in the second half.Source: India Business News | Business News - Times of India | 7 Feb 2010 | 11:24 pm JAL to stay with American, end Delta talksJAL had been leaning toward joining hands with Delta before filing for bankruptcy last month and bringing in new management under the auspices of a state-backed fund.Source: Daily News & Analysis: Money News | 7 Feb 2010 | 11:18 pm IBM begins Power server upgrade to battle HP, SunIBM's business has increasingly shifted to software and services from hardware over the past decade.Source: Daily News & Analysis: Money News | 7 Feb 2010 | 11:15 pm Madhucon bags 75Mw hydro power projects - Business Standard
Source: Business - Google News | 7 Feb 2010 | 11:12 pm Sensex down 78 points in morning tradeA benchmark index for Indian equities was ruling with a negative bias -- 78 points lower than its previous close -- about 90 minutes into Monday morning trade.Source: HindustanTimes.com - Top Business News Headlines | 7 Feb 2010 | 10:58 pm Economy seen growing at 7.2% in FY10: govtNew Delhi: India’s economy is expected to rise to 7.2% in 2009-10, the government said on Monday, reinforcing the possibility it may start to unwind its fiscal stimulus in the forthcoming budget. The official growth forecast is line with other estimates this month that the pace of growth will quicken, and comes amid some indications Reserve Bank of India (RBI) could raise interest rates even before its next policy review in April to dampen inflation. “These numbers means that the government will have to consider exiting from the fiscal stimulus in the budget,” said Rajiv Kumar, CEO of ICRIER, a Delhi-based think-tank. “Even if they don’t do that fully, I expect them to at least announce a roadmap for exit ... The RBI will probably watch the government action on the stimulus exit in the budget before taking a call on interest rates.” Manufacturing, one of the main drivers behind the GDP growth, is seen growing at 8.9% in 2009-10, the Central Statistical Organisation forecast said. Farm output is forecast as falling 0.2% after the worst monsoon in 37 years hit production, but the figure is better than initial estimates and could help ease pressure off high food prices. The economy grew 6.7% in the last fiscal year amid the global economic crisis. Last month, the RBI revised its GDP estimate to 7.5% from 6.5% for the current financial year ending March, and lifted its wholesale price index inflation forecast for the fiscal year to 8.5%. Indian policymakers, including the Prime Minister Manmohan Singh, have said they expect the economy to grow around 7.5% in the fiscal year ending March. Source: Home - Livemint.com | 7 Feb 2010 | 10:46 pm BSE Sensex extends losses to 1 pctMUMBAI (Reuters) – The BSE Sensex extended losses to 1 percent on Monday morning, led by losses in Reliance Industries and ITC, as Asian markets weakened further and as investors were worried about concerns in the euro zone.Source: Reuters: Money News | 7 Feb 2010 | 10:33 pm Rupee down 2 paise against dollar in early tradeThe rupee today fell marginally by 2 paise against the US dollar in early trade on foreign fund outflows from the weak equity markets amid strengthening of the US currency against other units.Source: India Business News | Business News - Times of India | 7 Feb 2010 | 9:59 pm Sensex down 95 points in early morning trade on Asian cuesThe Bombay Stock Exchange benchmark Sensex fell by over 95 points in early morning trade on Monday on selling by funds in oil and gas, banking and IT sector stocks amid weak Asian cues.Source: India Business News | Business News - Times of India | 7 Feb 2010 | 9:15 pm Pre-Budget gains unlikely this yearThe Union Budget, which usually is scheduled for February every year, mostly opens up the door for the bears on Dalal Street. On the other hand, Indian investors have mostly gained during the one month running up to the Budget, BSE sensex data since 2000 shows.Source: India Business News | Business News - Times of India | 7 Feb 2010 | 1:06 pm 'Opt for PSU shares with long-term view'PSU has once again entered the vocabulary of common investors. Investment consultants say they get many queries about investing in PSU stocks ever since the central government announced plans to divest its holdings in some of these entities.Source: India Business News | Business News - Times of India | 7 Feb 2010 | 12:59 pm Debt crisis in Europe exaggerated, says SachsPanic over high debts of some European nations that led to a bloodbath in the global stock markets last week is exaggerated, as they are unlikely to default, said renowned economist Jeffrey Sachs.Source: India Business News | Business News - Times of India | 7 Feb 2010 | 12:54 pm Hybrid mutual funds no longer looking attractiveWhile debt oriented hybrid funds gave 22% returns in the past year, equity focused funds moved up 61.5%. Hybrid funds including the debt oriented ones, have slipped into the red in last one month.Source: India Business News | Business News - Times of India | 7 Feb 2010 | 12:53 pm PM calls for vigilance to tackle security threatsNew Delhi: Prime Minister Manmohan Singh said on Sunday that cross-border terrorism, the Maoist insurgency and separatist movements in the North-East were the gravest threats to India’s security, pledging to overcome the challenge they pose. “Each one of these threats requires determination, hard work and continuous vigilance to tackle,” Singh said at a New Delhi conference of chief ministers on internal security. “These threats to our society and country constitute a challenge that we must and shall overcome at all costs.”  Tough words: Home minister P. Chidambaram and Prime Minister Manmohan Singh at a meeting of chief ministers. Atul Yadav/PTI “Hostile groups and elements operate from across the border to perpetrate terrorist acts in the country. The state of Jammu and Kashmir bears the brunt of the acts of these groups,” Singh said. He urged chief ministers to develop specialist commando forces in their states to deter terrorist attacks and create special intervention units to “enhance the speed and decisiveness of quick response teams”. Singh said the November 2008 terror strikes in Mumbai had “made us painfully aware of the need to strengthen our coastal security”. He said the National Committee on Coastal Security had been constituted to adopt an integrated approach to the issue. “The committee has taken action to increase the level of patrolling and surveillance along the Indian coastline and bring about greater coordination between the various agencies that can contribute to security along our coasts,” he said. “The issue of multi-purpose identity cards with biometric features to residents in coastal areas is expected to be completed by September,” Singh said, while the process of registration of boats and vessels has accelerated. Home minister P. Chidambaram said the Centre had wanted to encourage state governments to talk to Naxalites, as Maoists are known, if they abjured violence, but the offer had been spurned by the rebels. “Hence, in consultation with the chief ministers of Naxal-affected states, we decided to boldly confront the challenge...,” he said. Maoists on Sunday blew up railway tracks on the Jhaja-Jasidih section of the East Central Railway in Bihar’s Jamui district and killed an alleged police informer in Orissa’s Sundergarh district during the shutdown. The general strike had been called in Bihar, Jharkhand, Orissa, West Bengal and Chhattisgarh, and a partial strike in Maharashtra, Madhya Pradesh and Andhra Pradesh. feedback@livemint.com Source: LatestNews-Home - Livemint.com | 7 Feb 2010 | 12:45 pm Nato chief seeks broader ties with China, India, RussiaMunich: The head of North Atlantic Treaty Organization, or Nato, said on Sunday that the alliance’s troubled mission in Afghanistan shows it is vital to boost ties with nations such as China, India and Pakistan. Drawing from flaws exposed in Afghanistan, where Nato is struggling to hold off a Taliban and Al Qaeda insurgency, Anders Fogh Rasmussen called for the military alliance to become the hub of a broad global security coalition. “This is a key lesson we are learning in Afghanistan today... We need an entirely new compact between all the actors on the security stage,” he said at a major security conference in Munich, Germany. “India has a stake in Afghan stability. China, too. And both could help further develop and rebuild Afghanistan. The same goes for Russia. Basically, Russia shares our security concerns.”  Greater support: Nato secretary general Anders Fogh Rasmussen (centre) at the 46th Conference on Security Policy in Munich on Sunday. John Macdougall / AFP Under a recent switch of strategy, almost 40,000 extra troops are streaming into the conflict-torn country, aiming to protect civilians and win their support, rather than hunt down fighters, many re-supplied from Pakistan. Following last month’s conference in London, the strategy also involves a “surge” of civilian experts, backed by redoubled efforts from major donors, financial institutions and bodies such as the United Nations and the European Union. “We cannot meet today’s security requirements effectively without engaging much more actively and systematically with other important players on the international scene,” Rasmussen said. “The alliance should become the hub of a network of security partnerships and a centre for consultation on international security issues—even issues on which the alliance might never take action.” Rasmussen underlined that he did not seek to replace the work of the United Nations, and his stance was backed by German defence minister Karl-Theodor zu Guttenberg. “We don’t want to turn Nato into a global security agency,” the minister said. feedback@livemint.com Source: LatestNews-Home - Livemint.com | 7 Feb 2010 | 12:45 pm Scientists want changes in innovation BillNew Delhi: More than 15 eminent scientists appeared before a special government panel on Sunday to suggest revisions to a flagship innovation Bill currently under consideration by a parliamentary standing committee. The scientists presented complaints regarding the proposed Protection and Utilization of Public Funded Intellectual Property Bill, 2008. If passed, the law would apply to all scientific innovations discovered by scientists who receive government grants. The law would be the first of its kind in India. “Several changes will have to be made,” Dinesh Abrol, a policy researcher at the National Institute of Science, Technology and Development Studies, told HT after the meeting. “The government seemed open to the reforms we’ve suggested.”  Non-governmental organizations, including Médecins Sans Frontières, had also expressed concerns. In response, the department of biotechnology (DBT), which is steering the Bill, on 29 January sent scientists a list of proposed amendments, currently with HT, which include giving researchers more control over whether or not to patent a discovery, and dropping the heavy fines. “Some of the troubling aspects have been removed, but there are still issues that must be addressed,” S.A. Shivashankar, the head of the intellectual property unit and a materials science professor at the Indian Institute of Science, Bangalore (IISc), told HT. Shivashankar as well as IISc director P. Balaram have publicly criticized the Bill. Shivashankar attended the Sunday meeting. Abrol said the Bill must be further modified to protect public interest, allowing the government to receive royalties on inventions discovered by government-funded scientists, and to discourage the use of exclusive licences, which allow a single company the rights to manufacture and market an invention. The parliamentary standing committee will hold the third of three hearings about the Bill on Monday, when they will consider any suggested changes. A DBT official told HT that “the language is being modified” and “any changes will have to be justified”. Even after the changes, some scientists remain unconvinced. Satyajit Rath of the National Institute of Immunology told HT: “The amendments address my original concerns, but I still haven’t seen any arguments that say that we need this legislation.” The Bill is based on the Bayh-Dole Act, a landmark 1980 reform that allowed American scientists to own the rights to discoveries made while using government funding. The Act is credited by some for helping the US become a scientific superpower. The Indian version of the Bill will allow scientists the right to profit from discoveries made using public funding. The goal is to encourage greater innovation, though critics have questioned whether the Bill will have that effect on India, where the constraints on research are very different from those in the US. feedback@livemint.com Source: LatestNews-Home - Livemint.com | 7 Feb 2010 | 12:45 pm Dubai flight delayed 4hrs by hoax 'terror call' - Times of India
Source: Business - Google News | 7 Feb 2010 | 12:34 pm MIPs catch investors' fancyMonthly income plans (MIP) of mutual funds seem to have captured the fancy of 'risk-averse' investors.Source: India Business News | Business News - Times of India | 7 Feb 2010 | 12:31 pm Biyani eyes bigger play in FMCGThe Kishore Biyani-led Future group is changing gears. In line with its vision to straddle the entire range of fast moving consumer goods (FMCG), the firm is focussing on three different touch points.Source: India Business News | Business News - Times of India | 7 Feb 2010 | 12:28 pm Independent directorships attract big names againA year after Satyam, most say companies are taking their role more seriously.Source: Business Standard | Front Page Headlines | 7 Feb 2010 | 11:57 am ADAG firm puts spanner in Fame-INOX dealSays promoters rejected higher offer from it.Source: Business Standard | Front Page Headlines | 7 Feb 2010 | 11:55 am Govt drops bank M plansThe government has decided not to take any fresh initiatives to discuss mergers and acquisitions (M&As) among public sector banks, following adverse views expressed by the Reserve Bank of India (RBI) and reservations from political quarters.Source: Business Standard | Front Page Headlines | 7 Feb 2010 | 11:52 am Exceeding targets with less staffWestern Coalfields Limited (WCL) is a subsidiary of Coal India Limited (CIL) and was set up in 1975 with its head office at Nagpur in Maharashtra. It is engaged in mining through 86 mines spread across Madhya Pradesh and Maharashtra. Its chairman and managing director DC Garg spoke to HT on a range of issues. ExcerptsSource: HindustanTimes.com - Top Business News Headlines | 7 Feb 2010 | 11:39 am London shuts down business offices in New Delhi MumbaiThe Mayor of London, the city where Indian business establishments occupy a pride of place, has been accused of closing down his business facilitation offices in New Delhi and Mumbai through the "back door."Source: HindustanTimes.com - Top Business News Headlines | 7 Feb 2010 | 11:37 am Global brands set to emerge out of IndiaSrinivasan K Swamy, CMD, RK Swamy BBDO, in an exclusive chat with Hindustan Times, said the emergence of new media is causing creative disruption and proving to be a great leveller. Swamy will chair an international brand summit in Bangalore this month. Excerpts:Source: HindustanTimes.com - Top Business News Headlines | 7 Feb 2010 | 10:35 am Consumers are brand ownersBrands have a significant role to play in society as they can both add or destroy economic value. Recently, Interbrand published its 2009 list of the top 100 most valuable brands in the world, writes Nabankur Gupta.Source: HindustanTimes.com - Top Business News Headlines | 7 Feb 2010 | 10:33 am Serving up a lemonThey’re at it again and this time it looks like it’s going to be a lemony clash. Winter’s yet to fade in India and Coca-Cola India and PepsiCo are building up already towards summer. This year, the emphasis seems to be on the lime and lemon segment which, both companies agree, has been the fastest growing among all packaged soft drinks in the recent years, reports Anita Sharan.Source: HindustanTimes.com - Top Business News Headlines | 7 Feb 2010 | 10:31 am Sops must stay industry ministryThe Commerce and Industry Ministry has urged the Finance Ministry to retain the stimulus package in the forthcoming budget, on the grounds that its withdrawal may “unsettle” the industry and impede the growth momentum.Source: HindustanTimes.com - Top Business News Headlines | 7 Feb 2010 | 10:29 am G7 talks weak global recoveryFinance ministers from the world's top seven industrialised (G7) nations admitted on Saturday that the recovery from the global recession is still weak. However, they said governments would continue with stimulus spending to speed up the recovery process.Source: HindustanTimes.com - Top Business News Headlines | 7 Feb 2010 | 10:28 am
|
