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Source: Business - Google News | 7 Mar 2010 | 2:26 am Aditya Birla Retail aims becoming $2.5 bn entity by 2017-18'The growth will be driven by opening new stores, launching private labels and closing unviable stores, among other initiatives,' said Aditya Birla Retail's CEO, Thomas Varghese.Source: Daily News & Analysis: Money News | 7 Mar 2010 | 2:08 am Cablevision homes in New York lose ABC ahead of OscarsThe loss of the signal means Cablevision customers will likely miss the broadcast of this year's Oscars awards extravaganza which is aired by Walt Disney Co's ABC network.Source: Daily News & Analysis: Money News | 7 Mar 2010 | 1:05 am India Inc may hire more women this yr: ExpertsMore women are likely to join the corporate workforce in the country this year, with overall hiring prospects picking up and companies increasingly believing in maintaining a healthy male-female ratio, recruitment experts said.Source: India Business News | Business News - Times of India | 7 Mar 2010 | 1:01 am Merger pushed AI, Kingfisher Airlines deeper into redNew Delhi: The merger of Air India with Indian Airlines and that of Kingfisher Airlines with Air Deccan has resulted in a massive increase in their losses, according to official figures. The losses for the National Aviation Company of India Ltd (Nacil), which runs Air India, more than doubled from Rs2,226.16 crore in 2007-08 to Rs5,548 crore in 2008-09. Similarly, Kingfisher’s losses rose almost four times from Rs408.91 crore to Rs1,602 crore during the same period, the figures have shown. The 2008-09 losses for liquor baron Vijay Mallya’s airline were recorded after its merger with low-cost carrier Air Deccan. Likewise, the combined losses of Jet Airways and its fully-owned subsidiary JetLite or erstwhile Air Sahara rose from Rs695.10 crore to Rs1,032.7 crore. Besides merger, very high fuel costs, the global economic downturn and comparatively low yields due to heightened competition also contributed to the rise in their losses, which have been estimated by the International Air Transport Association (IATA) to account for one-third of the losses of the global aviation industry. But the government has defended its decision for merging the two state-owned carriers saying that the combining their critical mass or size would be a key factor in helping them survive and prosper amid a fierce global and domestic competition. While Air India planned several cost cutting measures to save Rs1,911 crore, it later projected a synergy benefit of Rs996 crore over a two-year period. The official figures showed that an amount of Rs503 crore have been realised in the first year of the integration process. In this background, a Parliamentary Committee recently said that even if Nacil managed to cut costs and generate some amount of revenues, “it may not be able to service the huge liability created due to debt repayment and interest payment” for purchasing a total of 111 aircraft from Boeing and Airbus. The Standing Committee on Transport, Tourism and Culture, headed by CPI(M) leader Sitaram Yechury, recommended that in such a situation, “the entire aircraft purchase of the Nacil may be funded by the government as soft loan as a one-time measure.” Source: LatestNews-Home - Livemint.com | 7 Mar 2010 | 12:31 am Market gives thumbs up to Budget - NDTV.com
Source: Business - Google News | 7 Mar 2010 | 12:13 am Firms get U.S. money despite Iran work - reportWASHINGTON (Reuters) - The U.S. government, while pushing for tougher sanctions against Tehran, has given $107 billion in the last 10 years to U.S. and foreign companies doing business in Iran, much of it in the energy sector, The New York Times reported on Saturday.Source: Reuters: Money News | 7 Mar 2010 | 12:12 am ANALYSIS - Global climate battle plays out in World BankWASHINGTON (Reuters) - The United States and Britain are threatening to withhold support for a $3.75 billion World Bank loan for a coal-fired plant in South Africa, expanding the battleground in the global debate over who should pay for clean energy.Source: Reuters: Money News | 7 Mar 2010 | 12:10 am Budget-day impact on stocks is short-livedReacting euphorically to Budget 2010, the stock market has singled out non-banking finance companies (NBFCs) and public sector banks as the key sector ‘beneficiaries'Source: Business Line - Home Page | 7 Mar 2010 | 12:00 am ‘Monetary expansion not to blame for inflation'The current high inflation is not because of monetary expansion, but due to supply-side bottlenecks in certain essential commodities and the high procurement price in the case of cereals, said the Finance Minister, Mr PranabSource: Business Line - Home Page | 7 Mar 2010 | 12:00 am G.P. Birla passes awayMr Ganga Prasad Birla, the eminent industrialist and philanthropist, died here on late Friday night. He was 87. He is survived by his wife Nirmala, son Chandra Kant, and daughter LekhaSource: Business Line - Home Page | 7 Mar 2010 | 12:00 am STel not to shut down; seeks details of security concernsMobile service operator STel Pvt Ltd, a joint venture between the Siva Group and Bahrain Telecommunications Co (Batelco), on Saturday told the Government that it would not stop offering mobile services unless the Department of Telecom (DoT) givesSource: Business Line - Home Page | 7 Mar 2010 | 12:00 am SEBI for physical delivery in equity derivatives segmentThe Securities and Exchange Board of India (SEBI) on Monday mandated 100 per cent application money for Qualified Institutional Buyers (QIBs) in public issues from May 1 this year, with a view to bringing about a level playing field for bothSource: Business Line - Home Page | 7 Mar 2010 | 12:00 am Toyota could start new US plant in June 2011: ReportIn December 2008, Toyota suspended work on the Mississippi assembly plant, where it plans to build the Prius hybrid, in response to the decline in US auto sales.Source: Daily News & Analysis: Money News | 6 Mar 2010 | 11:44 pm Kilitch Drugs to enter Rs600 crore eye care marketKilitch Drugs (India), the parent company, is engaged in the manufacture of injectibles such as gentamycin sulphate, dexamethason sodium phosphate, B-complex and others.Source: Daily News & Analysis: Money News | 6 Mar 2010 | 10:50 pm Essar to buy US's Trinity Coal for Rs 2750 cr - Hindustan Times
Source: Business - Google News | 6 Mar 2010 | 10:43 pm Eight of top 10 companies gain Rs31,000 cr in a weekMumbai: Led by Reliance Industries, eight out of top 10 companies added Rs31,000 crore to their market valuation last week, which saw the BSE benchmark index Sensex gaining over 550 points in a volatile trade. Reliance Industries, the most valued company on the Bombay Stock Exchange, accounted for almost one third of the total gains. The market capitalisation of RIL rose by Rs10,448 crore to Rs3,30,274.86 crore last week. Telecom major Bharti Airtel was the second largest gainer among the top 10 firms gaining Rs7,328.71 crore to take its market valuation to Rs1,13,367.20 crore last week. However, the market cap of the second most valued firm, ONGC, fell by Rs4,726.9 crore to 2,34,195.57 crore during the week ended 6 March. Power utility firm NTPC jumped to the third place from fifth earlier by gaining Rs2,308.73 crore during the week. Trading firm MMTC retained its fourth spot adding Rs1,082.5 crore to its valuation. Iron ore miner NMDC fell to the fifth place from the third spot by losing a sum of Rs6,819.28 crore from its market cap. The market valuation of MMTC stood at Rs1,68,970.75 crore, while NMDC’s valuation was Rs1,64,336.82 crore at close on Friday last week. The 30-share benchmark index Sensex gained 3.43%, or 564.94 points, during the week to close at 16,994.49 points on Friday. IT bellwether Infosys Technologies at the sixth place added Rs1,835.32 crore to take its valuation to Rs1,51,047.49 crore, while the largest software exporter TCS gained Rs225.08 crore to corner the seventh slot. The market cap of TCS was Rs1,49,168 crore at close on Friday last week. Country’s largest public sector lender SBI was at the eighth place as its valuation swelled by Rs4,482.26 crore to to Rs1,29,925.02 crore during the week. Power equipment maker BHEL at the ninth place added Rs3,642.03 crore to its market cap of Rs1,18,784.48 crore. Bharti Airtel was at the 10th place. Source: LatestNews-Home - Livemint.com | 6 Mar 2010 | 10:19 pm Corporate India may hire more women this year, say expertsNew Delhi: More women are likely to join the corporate workforce in the country this year, with overall hiring prospects picking up and companies increasingly believing in maintaining a healthy male-female ratio, recruitment experts said. “Most organisations that stressed on being equal opportunity providers ensured that the male-female ratio was maintained. Now, with opening of markets and opportunities, there will be a resurgence of female job applicants,” staffing firm TeamLease Services general manager Surabhi Mathur Gandhi said. IT services firm ITC Infotech’s HR head Anand Talwar said, “Yes, more women are expected to join this year into the country’s workforce. As they make up about one-fourth of the workforce and with hiring prospects picking up significantly, the female employee strength is also expected to rise.” Some other specialists said that certain sectors such as retail, telecom, hospitality, banking and outsourcing are likely to attract most of the female talent. “The sectors which are a lot more open to women include telecom, retail, BPOs, KPOs and pharma research firms,” Korn/Ferry International practice head, leadership and talent consulting Nina Chatrath said. “Amongst the staff strength seen within ITeS, banking & financial services, hospitality, media, consulting there is a higher female employee strength,” TeamLease’s Gandhi said. Given the flexibility of work hours and work-from-home options introduced by various firms, the IT sector has seen an increase in women employees as well. However, the gusto with which women join the workforce is seen diminishing along with their raising levels in the corporate ladder, experts believe. “Companies are giving more importance to gender diversity across all levels. However, mostly women staff is concentrated at the junior and middle levels in a firm,” Hewitt’s India Leader (Performance & Rewards Consulting Practice) Sandeep Chaudhary said. Experts said the family and other personal commitments lead to dropping out of a lot of women from the mainstream workforce after the middle management levels. “The presence of women in the senior management levels in companies is few and sparse as most of the fairer sex mostly quit way before reaching the top rungs,” Chatrath added. Source: LatestNews-Home - Livemint.com | 6 Mar 2010 | 10:10 pm Panasonic, Best Buy to tie up on 3D TV sales: ReportBest Buy will set up special exhibition corners where its customers can view 3D videos in its 300 stores in major US cities.Source: Daily News & Analysis: Money News | 6 Mar 2010 | 9:51 pm Toyota could start new U.S. plant in June 2011 - mediaTOKYO (Reuters) - Toyota Motor Corp will start operating its new plant in Mississippi as early as June 2011, the Tokyo Shimbun newspaper said on Sunday, as the Japanese automaker works to regain trust in the United States.Source: Reuters: Money News | 6 Mar 2010 | 9:40 pm Pru's Thiam aims to charm top UK shareholders on AIA - reportSINGAPORE (Reuters) - Prudential Plc CEO Tidjane Thiam will attempt to charm leading shareholders on Monday, moving to quell disquiet over the British insurer's $35.5 billion bid for AIA, the Asian arm of American International Group, the Financial Times reported on its website.Source: Reuters: Money News | 6 Mar 2010 | 9:38 pm Rin vs Tide saga Advertising s new avatar - Moneycontrol.com
Source: Business - Google News | 6 Mar 2010 | 9:06 pm China seeks coordination on stimulus exit strategiesBEIJING (Reuters) - Chinese Foreign Minister Yang Jiechi said on Sunday that the world needed policy coordination on stimulus exit strategies.Source: Reuters: Money News | 6 Mar 2010 | 8:12 pm IIMs explain CAT scoring, candidates say not satisfied - Times of India
Source: Business - Google News | 6 Mar 2010 | 4:35 pm Search engines getting faster but not precise enoughFor all those who use Google to search the web, and most of us probably do, here's a quick question. Have you ever hit the "I'm feeling lucky button" on the search engine and accessed the results?Source: India Business News | Business News - Times of India | 6 Mar 2010 | 2:59 pm Sebi reviews norms on public offers - Economic Times
Source: Business - Google News | 6 Mar 2010 | 2:22 pm Monsanto accepts its Bt cotton failed pest-control tests - Times of India
Source: Business - Google News | 6 Mar 2010 | 1:46 pm Industrialist GP Birla no more - Economic Times
Source: Business - Google News | 6 Mar 2010 | 1:05 pm Videocon, Adani bank on Bollywood hunks in IPL-4Videocon plans to rope in Abhishek Bachchan as the brand ambassador for its franchise in the fourth edition of the Indian Premier League in 2011, while Adani Group is in talks to get Salman Khan on board. These two corporations are the strongest contenders to win the bids for the two new franchises, which will open on Sunday, informed sources said.Source: Business Standard | Front Page Headlines | 6 Mar 2010 | 11:44 am Government lab faults Mahyco's study of pest resistance to Bt cottonThe Central Institute for Cotton Research (CICR), the cotton research institute of the Indian Council of Agricultural Research, has contested Monsantos claim that the pink bollworm, a pest that feeds on cotton, has developed resistance to its Bollgard cotton. Instead, CICR has pointed to the emergence of new sucking pests which could have caused economic losses to cotton farmers.Source: Business Standard | Front Page Headlines | 6 Mar 2010 | 11:42 am GP Birla dies at 87Industrialist Ganga Prasad Birla died last night at 87 after a prolonged illness. His Rs 5,000-crore business included companies like Hindustan Motors, Orient Paper and Industries, Hyderabad Industries, Avtec and Nigeria Engineering Works.Source: Business Standard | Front Page Headlines | 6 Mar 2010 | 11:41 am 'Borrowings not to hurt private sector'Finance Minister Pranab Mukherjee today tried to comfort the markets and said that the Centres gross borrowing programme of Rs 4,57,000 crore will be handled in a manner that it will not impact the credit requirements of the private sector.Source: Business Standard | Front Page Headlines | 6 Mar 2010 | 11:38 am All-women crew to fly AI to New York tomorrow - The Hindu
Source: Business - Google News | 6 Mar 2010 | 11:37 am Institutions to pay full money upfront in IPOsSebi plans physical settlement in derivatives.Source: Business Standard | Front Page Headlines | 6 Mar 2010 | 11:36 am Iceland votes over foreign debts, economy at riskREYKJAVIK (Reuters) - Icelanders voted in a referendum on Saturday on a $5 billion deal to repay Anglo-Dutch loans, with an expected resounding "No" set to delay foreign aid, hopes for economic recovery and possibly EU aspirations.Source: Reuters: Money News | 6 Mar 2010 | 10:53 am Holistic brand building: Mktg guru Raj Sisodias mantraHe is acclaimed as one of the worlds best gurus of marketing. In an interview with CNBCTV18, the celebrated guru of marketing speaks not about marketing but about his other passion: Conscious Capitalism.Source: Moneycontrol Top Headlines | 6 Mar 2010 | 10:48 am SBI rules out rate hike till May-June - MorungExpress
Source: Business - Google News | 6 Mar 2010 | 9:19 am High inflation not due to monetary expansion by RBI: Pranab'Food inflation reached as high as 19.9%. Gradually, it is coming down. Substantially, it (high food inflation) is because of the short supply in edible oil, pulses and sugar,' said the finance minister.Source: Daily News & Analysis: Money News | 6 Mar 2010 | 8:46 am Food inflation gradually coming down: PranabFinance minister Pranab Mukherjee said food inflation -- currently over 17 per cent -- is coming down gradually and exuded confidence that the economy would get back to nine per cent growth rate "as soon as possible".Source: India Business News | Business News - Times of India | 6 Mar 2010 | 8:13 am Two procedures at work in Satyam case, says Sebi chiefSebi had issued show-cause notices to audit firms including the Indian arm of global audit firm PricewaterhouseCoopers, after the scam came to light.Source: Daily News & Analysis: Money News | 6 Mar 2010 | 7:47 am AI offers discounted ticket for intl, domestic travelIn a bid to attract business travellers, cash-strapped Air India announced heavy discounts on First and Business Class international tickets and a ten per cent cut in base fare on any ticket booked on its website.Source: India Business News | Business News - Times of India | 6 Mar 2010 | 7:29 am QIBs will have to pay 100% for IPO application: SebiAs per a recent Sebi decision, Qualified Institutional Buyers (QIBs) will have to pay up 100% for application of primary issuances as against the current 10%. The decision was taken in order to bring parity between institutional and retail investors.Source: Moneycontrol Top Headlines | 6 Mar 2010 | 7:26 am Finmin: borrowing won't crowd out pvt sectorMUMBAI (Reuters) - India's record market borrowing in the fiscal year 2010/11 will not crowd out private borrowers, the finance minister said on Saturday.Source: Reuters: Money News | 6 Mar 2010 | 7:15 am Licenses for new banks under RBI guidelines: FMFinance minister Pranab Mukherjee Saturday said licenses for opening new banks would be issued under the norms and criteria laid down by the Reserve Bank of India.Source: India Business News | Business News - Times of India | 6 Mar 2010 | 7:07 am Greeks divided over cuts, Sarkozy vows supportATHENS (Reuters) - Greeks are evenly divided over the government's increasingly harsh austerity measures, a poll showed on Saturday, a day after thousands marched in Athens to protest steps to rein in the country's swollen budget deficit.Source: Reuters: Money News | 6 Mar 2010 | 6:55 am Two procedures at work in Satyam case, says Sebi ChiefSEBI Chairman, C B Bhave, said that there were two procedures at work with relation to the Satyam scam, apart from criminal proceedings.Source: India Business News | Business News - Times of India | 6 Mar 2010 | 6:41 am Janalakshmi to focus on financial inclusion of urban poorNarayan Ramachandran, ExCountry Head and Managing Director of Morgan Stanley India has decided to focus on financial inclusion of the urban poor. He has been now appointed as the Director on the board of Janalakshmi Financial Services.Source: Moneycontrol Top Headlines | 6 Mar 2010 | 6:01 am BSNL scraps $10 bln GSM tenderBharat Sanchar Nigam Ltd has decided to scrap its tender for 93 million GSM lines worth USD 10 billion and invite fresh bids, newspapers reported on Saturday.Source: Moneycontrol Top Headlines | 6 Mar 2010 | 5:54 am \'Entrepreneurs should not manage business handson\'Puneet Dalmias early experience with setting up and running a new economy business has helped him redefine his familys role in Dalmia CementSource: Moneycontrol Top Headlines | 6 Mar 2010 | 5:54 am Bangladesh banking talks commit to fighting povertyDHAKA (Reuters) - Leaders of a world group on sustainable banking said on Saturday they had committed to building a different and positive financial future for the banking industry across the globe.Source: Reuters: Money News | 6 Mar 2010 | 4:52 am DQ Entertainment allots shares to anchor investorsAnimation and gaming firm DQ Entertainment (International) Ltd said on Friday it has allocated 2.8 million shares at Rs 80 each for its initial public offer to raise up to Rs 1.28 billion.Source: Moneycontrol Top Headlines | 6 Mar 2010 | 4:46 am Adani Power shortlisted for Kosovo power plantKosovo has shortlisted four international bidders for a tender to build a 1,000 megawatt coalfired power plant, the Minister of Energy and Mining Justina Shiroka Pula said on Friday.Source: Moneycontrol Top Headlines | 6 Mar 2010 | 4:46 am Reliance leases 1.2m bbl storage in BahamasReliance Industries has leased about 1.2 million barrels of clean storage at the Borco Terminal in Bahamas as it seeks to increase its presence in the United States, trade sources said.Source: Moneycontrol Top Headlines | 6 Mar 2010 | 4:46 am Hindustan Media to rasie Rs 3bn via IPONewspaper publisher HT Media Ltd said on Friday its unit, Hindustan Media Ventures Ltd, had filed draft papers with the regulator for an initial public offer (IPO) to raise upto Rs 3 billion .Source: Moneycontrol Top Headlines | 6 Mar 2010 | 4:46 am NMDC to invest upto $3.9 bn in second steel plantIndia\'s top iron ore miner NMDC is planning to set up a 2million tonne steel plant in the Southern Karnataka state with an estimated investment of Rs 160180 billion (USD 3.5 billion USD 3.9 billion), a senior company official said.Source: Moneycontrol Top Headlines | 6 Mar 2010 | 4:46 am World Bank fund not needed for Arunachal Pradesh, says KrishnaBangalore: Asserting that India was not buckling under China’s pressure, external affairs minister S.M. Krishna on Saturday said there was no compulsion to approach World Bank or any other funding agency to take up projects in Arunachal Pradesh. “Well if we can find internal resources to take up these projects, where is the compulsion for us to go to World Bank or Asian Development Bank or some other agency,” Krishna told reporters. As of now, for every project in Arunachal Pradesh, the government has been able to tie-up internal resources, he said responding to queries about a media report which, citing a World Bank “document”, quoted him as having said India would not pose any Arunachal Pradesh specific project to the Bank. The report also claimed the Chinese executive director on the Bank board was insisting on operationalisation of Krishna’s purported statement. “No certainly not. I think it is not quoted correctly. I have never said India is going to abandon any projects either in Arunachal Pradesh or in any other pradesh (states),” he said, when asked about the report and if India was buckling under China’s pressure. Arunachal Pradesh was a part and parcel of “this great country of ours and we certainly would take up projects for development of people of Arunachal Pradesh”, Krishna said. He said if the necessity arose and the country was starved of funds for taking up projects including in Arunachal Pradesh, “.. then perhaps it is hypothetical question”. Krishna noted in the recent (assembly) elections 76% of people turned out to exercise their franchise. It only indicated the determination and resolve of people of Arunachal Pradesh to fully get themselves integrated in the democratic process. Source: LatestNews-Home - Livemint.com | 6 Mar 2010 | 4:03 am Qualified institutional buyers have to pay 100% of primary issue: SebiBesides, it has made some recommendations for derivatives contracts, which will first be discussed with the bourses before implementation.Source: Daily News & Analysis: Money News | 6 Mar 2010 | 3:27 am Bank of India in distribution pact with Reliance Mutual FundThe public sector lender will use its pan-India network of over 3,000 branches to sell the products of the leading private fund house, a release said here today.Source: Daily News & Analysis: Money News | 6 Mar 2010 | 2:41 am Sebi allows physical delivery in derivatives segmentSebi will discuss with the stock-exchanges and institute an appropriate mechanism for physical delivery in derivatives market, he said.Source: Daily News & Analysis: Money News | 6 Mar 2010 | 2:36 am Sebi nods physical delivery in derivativesMumbai: Capital market regulator, Sebi, on Saturday said that it has decided to allow physical delivery in the derivatives segment but no timeline has been fixed for this. “The Sebi Board has decided to allow physical delivery in the derivatives segment. There has been a demand for this for some time now and the Board felt that there was some substance in this,” Sebi chairman, CB Bhave, told reporters. Sebi will discuss with the stock exchanges and institute an appropriate mechanism for physical delivery in derivatives market, he said. “This issue would now be discussed with the stock exchanges and an appropriate mechanism for physical delivery in derivatives would be evolved,” Bhave said. “There will be a need for proper risk-containment systems,” he added. Long-term contracts in derivatives, now only for three-years, would be possible for five-years, he said. “The Board felt that the time is right and we have seen volumes build-up there. Long-term contracts up to five-years will also be possible,” he said. The Sebi Board, in its meeting on Saturday, also took a decision that in the primary issuance process, Qualified Institutional Buyers (QIBs) will be required to pay 100% money in line with other investors on or after 1 May this year, Bhave said. Source: LatestNews-Home - Livemint.com | 6 Mar 2010 | 2:28 am
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