Public Relations
A cargo vessel carrying soda ash consignment from Veraval Port to Calicut capsized after travelling 60 nautical miles into the Arabian sea between Jafrabad and Diu here today, Gujarat Maritime Board (GMB) officials said.
Eyes 90-year, revenue-sharing contract for eight fertiliser units.
Air India is likely to receive the first tranche of equity infusion by December, Civil Aviation Minister Praful Patel said today.
How Korean consumer durable majors LG and Samsung knocked out rivals in the fight for market share and brand recall.
Leading logistics firm FedEx"s net losses widened to $876 million for the fourth quarter ended May 2009, primarily bogged down by global economic sluggishness and one-time charges.
Middle East-based air-carrier, Air Arabia, today announced special low fares from 13 destinations across India to its hub Sharjah and 46 stations, which the airline caters to globally.
Brokerage firm Kotak Securities today tied up with Denmark-based Saxo Capital Markets to launch a trading platform that provides real-time access to equities across 24 stock exchanges.
Flughafen Zurich AG, operator of Zurich airport in Switzerland, which has a 17 per cent stake in Bangalore International Airport Ltd (BIAL), will reduce this to five per cent, to fund its further growth in India. The divestment process is expected to take four months.
Airports Authority of India (AAI), would be turned into a company by amending laws to enable the body raise funds from market for carrying out modernisation of a large number of major airports across the country, Civil Aviation Minister Praful Patel said today.
The concept of conflict of interest in commercial jurisprudence is hogging the headlines. A judge of the Supreme Court has recused himself from adjudicating a high-profile corporate war since his daughter now works for a law firm that had been involved in scripting a document that the court would have to interpret.
The shares of the engineering and construction major Gammon India, which plunged 16.11 per cent in the morning trade, closed with an over 6 per cent decline on the Bombay Stock Exchange, as investors dumped its shares after one of the bridges it was constructing in Kota, Rajasthan collapsed last Thursday.
Emerging-market equity funds inflows tripled last week as the outlook improved for developing-nation exporters, EPFR Global said.
A majority of large private equity (PE) players are gearing up to raise fresh funds for investing in the infrastructure sector. According to a survey of the leading PE firms conducted by management consultancy Ernst & Young and industry body Asscoham, 84 per cent of the PE firms said that they found the present environment conducive to raise infrastructure-focused funds.
Value averaging may give better returns compared to sips, but it is complex for retail investors
Gold’s best year in three decades has yet to match the returns of an interest-bearing checking account for anyone who bought the most malleable of metals coveted for at least 5,000 years during the last peak in January, 1980.
The Sensex has slipped further and is now at 16,623, down 220 points.
Infosys plans to reduce the usage of sub-contractors and do its work in-house, especially at cheaper offshore locations, the IT company"s Chief Mentor N R Narayana Murthy said today.
Markets have erased all its gains and slipped into the red.
The financial services industry will see significant changes.
The Dubai crisis could have major ramifications similar to the global credit turmoil last year.
US medical devices maker Boston Scientific Corp today said it will pay $1.73 billion to settle three patent disputes with healthcare firm Johnson & Johnson (J&J).
With turnaround in exports, the finance ministry is likely to withdraw a string of fiscal stimulus given to exporters to fill in the "budgetary hole", commerce secretary Rahul Khullar said today.
The Insurance Regulatory and Development Authority (IRDA) has made it mandatory for insurance companies to disclose the remuneration of independent directors as part of its steps towards improving corporate governance.
The Sensex opened at 17,365 tracking mixed global cues and then soared to a high of Rs 17,492. The index is now at 17,481,up 137 points.
The Sensex has opened at 17,378 - up 33 points. The index is now up 126 points at 17,473.
The issue of separate Vidarbha has gained momentum after the dramatic developments over Telangana issue and senior Congress MP Vilas Muttemwar seizing the opportunity has written to the Prime Minister Dr Manmohan Singh reiterating the need for creation of separate Vidarbha.
The state owned Industrial Development Corporation of Orissa Limited (IDCOL) has sought allotment of new mines to meet the blast furnace (BF) grade ore requirement of Idcol Kalinga Iron Works Limited (IKIWL) located at Barbil.
Akash Prakash / New Delhi November 27, 2009, 0:18 IST
The shortage of information and communications technology (ICT) skills in developed countries could become a serious issue once the worldwide economic crisis starts easing. This will be exacerbated by the falling number of masters and PhD holders in science and engineering, restrictions on cross-border movement of IT professionals and the US H-1B visa programme. However, this vicious circle could be mitigated by the Indian service firms increasingly recruiting internationally, according to a new OECD report on employment trends in the ICT sector.
Ashim Purkayastha’s latest works focus on the violent history of the North-east.
The fiscal deficit rose by 73 per cent to Rs 3.06 lakh crore in the first eight months of the financial year against Rs 1.77 lakh crore a year ago, as the government cut taxes and stepped up expenditure to stimulate the economy hit by the global financial crisis.
The government has now decided to go for electronic trading of wheat for bulk consumers like flour millers to boost sales of the grain in the open market.
The Income Tax (I-T) Department has claimed Rs 30,000 crore from companies that have violated provisions under the minimum alternate tax (MAT).
Direct tax collections in the first eight months of the current financial year increased 3.7 per cent to Rs 1,83,822 crore, against Rs 1,77,251 crore in the April-November period of 2008-09.
Since yearends and beginnings are about reflections and resolutions, here are some from yours truly. In 2000, I was an assistant editor at Businessworld magazine, writing and editing whatever came my way — management, media, Internet, technology. A stint in Cambridge researching copyrights in digital music, at the height of the Napster era, helped me decide to specialise in media and entertainment (M&E) writing. Now in the tenth year of making my bread and butter from this business, it makes sense to revisit the reasons I chose this industry.
The US box office will set a weekly record of almost $500 million in the final days of 2009 on sales from Avatar, Sherlock Holmes and Alvin and the Chipmunks: The Squeakquel, according to Hollywood.com.
Time Warner today said its board has approved the acquisition of Prannoy Roy-promoted NDTV"s entertainment channel Imagine for $126.5 million (about Rs 592 crore).
This festive season has been successful enough in pushing sales for companies to revise upwards their year-end targets. A survey by the Federation of Indian Chambers of Commerce and Industry (Ficci) says demand conditions have improved across sectors.
Schools and colleges have become the new hunting ground for non-life insurers, eager to push personal accident (PA) policies, a segment which has traditionally seen low claims.
A big controversy on procurement of Rs 35,000-crore worth of equipment by telecom behemoth BSNL is brewing, with the position taken by the two government nominees on the board threatening the expansion programme of the state-owned telecom major.
A PIL was today filed in the Punjab and Haryana High Court here seeking a probe into the Ruchika Girhotra molestation case, including her expulsion by a local school, and the subsequent harassment of her family.
Corporate Affairs Minister Salman Khurshid today ruled out inspection of financial accounts of Reliance Communications (RCom), which is under attack for alleged understating revenues and evading licence fee payment, unless the DoT asks the Ministry to do so.
S Tel, a joint venture between the Chennai-based Siva group and Bahrain Telecom, today said it will launch mobile services from tomorrow with twin tariff plans of one paise a second and 50 paise per minute.
With an aim to diversify into other minerals and metals, the country"s leading aluminium maker Nalco is considering buying coal, copper and uranium mines in Namibia.
Mobile telephone subscribers would have to wait a little longer to change their service provider without changing their numbers. The introduction of mobile number portability (MNP) across the country would be delayed by about two to three months, as some of the operators are not ready, said a senior official of the Telecom Regulatory Authority of India (Trai).
Toyota Kirloskar Motor (TKM) today announced that it has crossed 4 lakh unit retail sales in India since its inception.
Mercedes-Benz is planning to launch over-dimensional-cargo (ODC) vehicles and long-haulage trucks that can carry up to 240 tonnes in India soon.
Competes with Mercedes, BMW, Porsche, Audi and Accura
The Sensex after touching a low of 17,028, has recovered a bit and is now down 100 points at 17,080.
Prior to the derivatives expiry this Thursday, markets have shown weakness, ignoring strong cues from the US markets.
US conglomerate General Electric (GE) today announced it would sell its security unit to United Technologies Corp for $1.82 billion.
Construction firm Sobha Developers today said it has raised Rs 526.89 crore through qualified institutional placement (QIP) by allotting over 2.51 crore equity shares of Rs 10 each.
Textile major S Kumars Nationwide (SKNL) plans to raise Rs 1,000 crore through issue of shares on qualified institutional placement (QIP) basis to fund its expansion plans.
A K Bhattacharya / New Delhi October 21, 2009, 0:18 IST
A senior official of Tata Steel on Wednesday indicated that the steel major might provide a rehabilitation package for the 1,700 workers slated to lose their jobs due to the partial mothballing of its subsidiary, Corus’ Teesside plant in Britain.
The Supreme Court has quashed criminal proceedings against a branch manager of Coca Cola under the Food Adulteration Act, stating that prosecution could not be initiated unless the complaint was accompanied by the report of the public analyst. This principle was laid down in the case, Saumindra Bhattacharya vs State of Bihar. In this case, a lawyer bought three bottles of Limca. When he drank one, he fell sick. He complained to Coca Cola company, which owns the Limca trademark, that the bottles contained foreign substance. It replied that it was receiving several such complaints and the bottles were being tampered with by unscrupulous elements.
M J Antony / New Delhi September 9, 2009, 0:40 IST
I am 34 and employed in an IT company in Gurgaon. I began investing in June 2007, with a sum of Rs 2,500 a month. Gradually, I increased the SIP amount to Rs 16,500 a month. Can you help me with my financial plan? I have provided all the details below.
Teaser and step-up home loans may look similar in the beginning, but they work out differently in the later years
Public sector lenders Bank of Baroda and Indian Bank today announced that they had appointed new Executive Directors.
Space, says Raavi Sabharwal, is “opportunity”, “challenge” and, most importantly, “fun”. Sabharwal, 63, is the publisher of Timeless Books and owner of Timeless — The Art Book Studio, tucked away in one of the many bylanes of Kotla Mubarakpur, one of the many “asides” of the Capital, cheek by jowl with the upmarket South Extension shopping centre. The 1,600 sq ft space, which you stumble into after you’ve taken a few wrong turns, is quiet and peaceful, a refuge from the chaos that surrounds it.
The power supply in the state was disrupted when around 20 armed Naxalites attacked Balimela hydro power station in south Orissa on Saturday night damaging its Valve House and thus affecting generation at the station.
- A practical strategy - Reacting to rumours - Mastering money making - Don't be bold on gold - Getting rid of government controls - For the risk-takers
The Reserve Bank of India’s (RBI’s) signal on raising interest rate to manage inflation pushed the rupee to a one-year high against the US dollar.
The economy might be recovering, but the small and medium (SME) auto parts industry in Kolkata is still looking for the green shoots that would end their struggle to keep their businesses afloat.
Asian economies must handle their monetary and currency policies carefully to avoid unleashing a wave of potentially destabilising inflation, World Bank President Robert Zoellick said today. The US and European economies, which are barely starting to recover from the global meltdown, are less at risk, but in Asia, the massive liquidity flowing into regional markets could push asset prices up dangerously high, Zoellick said.
UK-based Barclays today said it would increase workforce in merchant banking segment across Asia by 10 per cent during 2010.
Unlike in the past when economic growth did not translate into increased employment, the current investment boom is likely to have caused a spurt in jobs growth, argues Mahesh Vyas
With fears of its flights being disrupted, Air India today warned its employees of wage and allowance cuts if they participated in the proposed two-hour "illegal" walkout this afternoon to protest delayed payment of salaries.
G20 finance ministers meet here tomorrow to chart the next steps out of the global economic crisis, with calls to curb bankers" bonuses as part of beefed-up financial market rules topping the agenda.
Business Standard / New Delhi July 28, 2009, 0:40 IST
Minister for women development and child welfare Konda Surekha submitted her resignation to Governor ND Tiwari on Thursday. The minister stated she had resigned as she was unable to continue in a cabinet without former chief minister YS Rajasekhara Reddy. Ever since the death of YSR, Surekha has been pitching for the chief ministership of YS Jaganmohan Reddy, the late chief minister"s son. She had even said earlier that she would resign if Jaganmohan Reddy was not made the chief minister.
Sun Pharmaceutical has managed to gain more support in its battle to acquire Israel-based Taro Pharmaceuticals.
Insurance Australia Group (IAG) will pay Rs 542 crore for a 26 per cent stake in its general insurance venture, SBI General Insurance Co.
State-owned Indian Overseas Bank (IOB) is planning to foray into the venture capital business.
Punjab National Bank (PNB) has posted 62.39 per cent rise in net profit at Rs 832.05 crore for the quarter ended June 30, 2009 as compared to Rs 512.40 crore in the corresponding quarter last year. Total income during the quarter under consideration increased from Rs 4594.62 crore to Rs 6177.58 crore.
Bank of Baroda (BoB) would open five new branches in Uganda, Trinidad and Malasiya during 2009-10, a top bank’s official said today.
Key supporters of charismatic Indian-American Governor of Louisiana Bobby Jindal have set up a political action committee to facilitate a possible 2012 presidential bid and aim to raise $60 million in funds.
The Supreme Court today issued notices to Reliance Gas Transportation and Infrastructure Ltd, and the Ministry of Petroleum and Natural Gas on the appeals moved by more than 50 land owners of Surat, alleging that the Mukesh Ambani-led company had not paid them adequate compensation for acquisition. Their land will be used for laying pipelines to transport gas from the Krishna-Godavari basin to Gujarat.
Allahabad Bank Chairman and Managing Director K R Kamath has been appointed as the chief of the country"s second largest public sector lender, Punjab National Bank (PNB).
In a surprise move, state-run telecom firm Bharat Sanchar Nigam (BSNL) has cancelled the equipment purchase order given to Chinese company Huawei saying the conditions imposed by the vendor are not acceptable, leaving the fate of Rs 32,000-crore capacity addition programme in limbo.
Finance Minister Pranab Mukherjee today said the RBI"s move to keep almost all rates unchanged is line with the discussions he had with the apex bank"s governor and the government"s thinking on fiscal and monetary policies.
Virudhunagar, near Madurai in Tamil Nadu is to house one of the handloom clusters which was announced in the Union Budget 2009, said Union Minister for Textiles Dayanidhi Maran.
Vijay Mallya-led Kingfisher Airlines has posted a loss of Rs 242.71 crore in the first quarter of fiscal 2009-10, as against a loss of Rs 157.87 crore reported during the same period in the previous fiscal.
The transaction values XTO at $51.69 a share, 25 per cent higher than its last closing - MCL decision on coal transport to help land oustees - UBI likely to float IPO by early February - 25 suspended workers reinstated at Dunlop"s Sahaganj unit - Elder gets bolder - Ruia Group acquires 60% stake in Henniges Automotive Grefrath - "Declare oil palm a plantation crop"
Dishman Arabia, the 50:50 joint venture between Dishman Pharmaceuticals & Chemicals and Saudi Arabia based Takamul, is bullish on touching a turnover of $50 million within two years of commencement of production at its JV plant in Riyadh.
Congress likely to continue consultations with various interest groups and political parties.
Outflows fell 16.4 per cent in April-Sept 2009 compared to the year-ago period.
New Delhi, Dec 18 (PTI) A person seeking global trade mark now need not apply for it in several countries incurring a big cost, as Lok Sabha today amended the trade mark law to simplify the procedures.
My father is a senior citizen and wants to invest around Rs 3 lakh in mutual funds. He wants to derive monthly returns from the investment, like through pension. Please suggest some funds that do not carry risk.
Wind Turbine maker Suzlon Energy repaid $780 million (around Rs 3,700 crore) acquisition loan. This has also made the company achieve a net reduction in overall debt by $350 million (around Rs 1,700 crore).
UCO Bank has recorded 22.05 per cent growth in advances and 19.77 growth in deposits for the quarter ended December 31, 2009.
The Foreign Institutional Investors (FIIs) were net sellers of Rs 899.75 crore in futures and options segments on Thursday.
The central government, which has stepped up efforts for the blending of ethanol in a 5 per cent proportion with petrol, has threatened to blacklist ethanol manufacturers if they fail to supply the commodity to oil marketing companies (OMCs).
Business Standard / New Delhi November 24, 2009, 0:08 IST
A V Rajwade / New Delhi November 09, 2009, 0:05 IST
State Bank of India (SBI) and Macquarie Capital today announced today the appointment of Varun Bajpai as Chief Executive Officer and Praveen Gupta as Deputy Chief Executive Officer of their joint venture management company, SBI Macquarie Infrastructure Management (SMIM).
Vikram Pandit, the India-born chief executive of Citigroup, will continue to take the salary of $1 a year, although the financial services firm has raised base salaries for two of its senior officials.
Indian corporate gifting companies are set to laugh all the way to the bank this New Year. For, after a temperamental period in 2008 and 2009 on account of the recession, corporate biggies have finally started loosening their purse strings and placing orders for high-end gadgets like iPods, digital photoframes and dual-SIM handsets to dole out to their employees as well as clients.
China is getting all worked up about the wrong thing when it comes to the US. Forget these nascent trade wars over tires, cars and chickens. China’s real problem is how quickly the dollars they hold in great quantity are getting all the respect of pesos these days. Sounds like hyperbole? Not when you consider what may be the hottest investment of 2010: the dollar-carry trade.
JPMorgan Chase & Co, the second- largest US bank by assets, said profit in the third quarter soared almost sevenfold, beating analysts" estimates, as fixed- income revenue surged.
The markets have opened on a lacklustre note. The Sensex is quoting at 16,690, down 29 points and the Nifty is at 4,974, down 12 points.
As investors get ready for Christmas celebrations, domestic bourses will not have much to cheer about and is likely to see subdued trading this week, feel analysts.
The markets have opened in the green, in line with the positive global cues.
Societe Generale SA, France’s second-largest bank by market value, said third-quarter earnings doubled as its investment-banking unit returned to profit.
British banking major Standard Chartered today said its proposed local listing would enhance its commitment to Indian market.
New-age private banker YES Bank is now focusing on eastern Uttar Pradesh and will soon expand its footprint in the region.
Raghavendra Kamath / Mumbai September 11, 2009, 0:36 IST
The steel ministry is planning to set up a special arm under Steel Authority of India (SAIL) to spearhead overseas acquisitions, particularly in the mining sector.
Cairn India’s crude oil will finally go for refining, with Mangalore Refinery and Petrochemicals Ltd (MRPL) receiving the first consignment tomorrow. The 2,08,000-barrel consignment of crude oil has been shipped from the Gujarat coast to Mangalore.
Godrej Industries, leading chemicals manufacturer and exporter of chemicals products, has entered into a memorandum of understanding (MoU) with Godrej & Boyce Mfg Co and Godrej Properties for development of the property at Vikhroli.
The government should continue with the fiscal stimulus packages in the medium term to facilitate recovery in the economy hit by global economic meltdown, a top official with JSW Energy said.
Godrej Properties Ltd"s public offer, through which the realty developer expects to raise up to Rs 500 crore, got over-subscribed 1.13 times on the first day of issue today.
Asserting that it has positive cash-flow position, debt-ridden Dubai World"s subsidiary DP World, which operates container terminals in the country, today said the debt crisis would have no impact on India operations.
Kolkata-based United Bank of India (UBI) has filed draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi), for an initial public offering (IPO), with the issue size of Rs 50 crore.
Bhupesh Bhandari / New Delhi November 05, 2009, 0:27 IST
Filmmaker, translator of Sanskrit erotica, and India"s famous "shaved head" Pritish Nandy is committed to making "movies that rock".
That the new direct taxes code is proving embarrassing for the government is obvious, it’s just that one didn’t realise the government felt the same way as well. At one point the code says, “A business shall be distinct and separate from another business if there is no interlacing, inter-dependence or unity ‘embarrassing’ the two businesses.” Now that’s embarrassing.
JSW Energy will open its Initial Public Offer (IPO) on December 7, to raise Rs 2,700 crore. The issue will close on December 10.
The bidding war for Great Offshore ratcheted up a notch with ABG Shipyard saying it would come out with a counter-offer to rival Bharati Shipyard’s offer of Rs 560 a share announced on Wednesday after it acquired 3.1 per cent from the open market to take its total holding to 22.4 per cent.
System integration firm Teracom today said it has bagged a Rs 12.6 crore broadband services deal from the Indian Railways.
Foreign firms helping domestic oil explorers need to pay tax at lower rate of 10 per cent only as their business is technical services, the Authority for Advance Ruling (AAR) has ruled.
Business Standard / New Delhi November 11, 2009, 0:19 IST
The market watchdog Sebi today extended the ASBA (application supported blocked amount) facility to corporate investors and high networth individuals (HNIs) to enable them to apply for IPOs or rights issue by keeping the application money in their bank accounts till allotment.
Mahindra Satyam (the erstwhile Satyam Computer Services) has agreed to pay $70 million (Rs 325 crore) as settlement to UK-based Upaid, which had claimed damages of $1 billion for alleged forgery, fraud and breach of contract.
With uncertainty prevailing over the supply of jute bags due to the indefinite strike of the jute mills in West Bengal, the Centre plans to allow Food Corporation of India (FCI) and the other government procurement agencies to place orders for polymer bags for packaging of food grains.
Non-banking finance company Tata Capital today announced the appointment of Jamshed Daboo, to the newly created position of head, of national sales and services organisation.
Acting chief Vasudevan caught taking Rs 7 lakh.
After a lull of over eight months when virtually no new endorsement deal of any significant value was signed, the Rs 400-450 crore celebrity endorsement business is back on the recovery path.
After a year of slow growth, apparel maker and retailer Provogue is reworking its business strategy to boost revenues and prop up margins, a top company executive said.
The stock surged further to a high of Rs 37 - up 7%. The stock, however, slipped from the high and ended with a gain of 5% at Rs 36.30. Over 7.46 million shares changed hands at the counter today, comparatively higher than the two-week daily average trade of 1.56 million.
The Sensex has dropped 55 points to 16,905. The Nifty is down 16 poinst at 5,011.
Sajjan Jindal-owned JSW Energy may go for an Initial Public Offer (IPO) to raise funds for its ambitious plans to step up power generation capacity to 12,000 Mw from the present 800 Mw.
Aditya Birla Retail, the country"s second-biggest supermarket operator, is considering an initial public offer (IPO) and will time it as soon as the company starts spinning profits.
Public sector hydropower producer Satluj Jal Vidyut Nigam (SJVN) today said its proposed initial public offer is likely to come in the next fiscal and the company is in the process of appointing independent directors, a prerequisite for firms planning to hit the market.
Rajesh S Kurup / Mumbai October 9, 2009, 0:45 IST
The Supreme Court today admitted the appeal of the Cellular Operators Association of India (COAI) against the order of the Telecom Disputes and Settlement and Appellate Tribunal (TDSAT) in the controversy over dual spectrum allocation policy.
Reliance Mutual Fund, the country"s largest fund house, today said it is open to acquisitions if some good opportunities come its way.
Hindalco Industries, the metals flagship company of the Aditya Birla Group, today said it has received approval from its shareholders for raising funds up to Rs 2,900 crore through issuing securities.
If the Finance and Investment Committee (FIC) of the Employees’ Provident Fund Organisation (EPFO), scheduled to meet here on December 1, takes a final call on investing a portion of its massive corpus in the capital markets, as much as Rs 13,000 crore could flow into equities.
Indian Air Force today deployed two MI-17 helicopters to carry out flood relief operation in and around Pursura and Khanakul areas of Hooghly district, nearly 100 km northwest of here.
Not since the dark decade of the 1990s, when the Indian Air Force crashed 177 aircraft — losing 54 young pilots and some Rs 1,000 crore worth of equipment — has the air force faced such a pilot training crisis. The long-delayed Hawk trainers, which began arriving in India in 2007, have improved advanced training for IAF flyers. But the crucial introduction to flying, conducted in antiquated HPT-32 Deepak and HJT-16 Kiran aircraft, is taking a growing toll on pilots’ lives.
The restructuring should help strengthen the balance sheet and create value for shareholders.
Securities and Exchange Board of India (Sebi) is in the process of examining whether registered portfolio managers invest in instruments other than listed securities, an official of the agency said.
The notional value of investments in the domestic stock market through participatory notes (PNs), the off-shore derivatives issued by foreign institutional investors (FIIs), rose from 15.5 per cent in August to 16.4 per cent and 16.5 per cent in September and October, respectively.
Banks’ association says the process needs a huge effort.
Axis Private Equity (Axis PE) and IL&FS Financial Services have announced an investment of Rs 90 crore in Shalivahana Green Energy Ltd (SGEL).
Mercedes sales decline over 10%, but the company expects double-digit growth this year.
Mercedes Benz’s latest offering in India, the new E-class sedan, could well reclaim the top spot within the Germany luxury car makers’ stable in eastern India. Since 2007, the automobile giant"s lower-priced C-class model has dominated the Kolkata market by selling substantially more, especially during 2008.
Credit offtake remained subdued at 11 per cent during the one-year period ending December 18, indicating the economic activity is yet to fully pick up momentum.
Aluminum consumption in Asia may continue to grow next year as stimulus measures in China, the world’s biggest metals consumer, and rest of the region lift demand for the metal, an executive at Novelis Korea said.
Ashok K Lahiri / November 28, 2009, 0:02 IST
India"s foreign exchange reserves rose by $684 million for the week ended October 23 to $285.520 billion from $284.836 billion in the previous week.
Sudhakar Ram, chairman, Mastek, is putting together a collaborative book.
Log in to Twitter, Facebook, LinkedIn to keep alumni, students, aspirants updated about their institutes.
Around 4000 people, mostly farmers, today took out a rally against land acquisition by Gujarat Industrial Development Corporation (GIDC) in villages near Sanand.
Lawyers defending seven suspects, including LeT operations commander Zakiur Rehman Lakhvi, in Mumbai attacks today filed an application in an anti-terror court in Pakistan seeking their acquittal on the ground that there is no probability of their being convicted.
The Punjab government has decided to establish a self-contained integrated information technology and knowledge industry park spread over an area of 1,276 acres at Rajpura. Punjab Chief Minister Parkash Singh Badal gave his in-principle approval for acquisition of common land in contiguity of six villages in one go for the setting up of the prestigious industrial park for IT/ITeS industry.
Kerala-based private sector lender Federal Bank is likely to approve the merger of the state-based Catholic Syrian Bank (CSB) within the next three months as it has already completed the due diligence.
Pakistani-origin American David Coleman Headley, charged by FBI of being involved in the Mumbai terror attacks, was using US as a base to plan future attacks outside the country, a top Senator said today.
The BSE Sensex climbed 0.6 per cent on Friday, posting its first weekly rise in the past three weeks, with banks leading the rebound as investors picked bargains after last month’s fall. Gains in global stocks after the US labour department said initial claims for state unemployment benefit had dropped to their lowest level since early January also underpinned the market.
Anil Ambani group firm Reliance Capital today reported 32 per cent decline in consolidated net profit for the second quarter ended September 30, while its total income rose by 11 per cent.
Commercial vehicle maker Ashok Leyland today reported a jump of 31.77 per cent in its net profit for the quarter ended September 30, 2009 at Rs 88.61 crore on account of internal efficiencies and low input costs.
The stock pared all its gains and slipped into the negative to touch a low of Rs 1,595 . The scrip finally ended flat at Rs 1,606. The counter clocked volumes of 102,814 shares as compared to the two-week daily average traded volumes of 44,875 shares on the BSE.
World"s largest drug maker Pfizer today said it is in the process of bringing in synergies in operation with Wyeth, which it acquired in January this year, and will launch one more product by the end of this fiscal.
A visionary, energetic and result-oriented minister has breathed fresh life into the road sector
Reliance Industries" eastern offshore KG-D6 gas has helped fertilizer companies bring down cost of urea production by 18 per cent and has helped save about Rs 4,760 crore in fertilizer subsidy.
The gas row between the Ambani brothers had its echo in the Lok Sabha on Thursday with Samajwadi Party chief Mulayam Singh Yadav making a strong plea for gas from Reliance at cheaper rates for state-owned National Thermal Power Corporation (NTPC), a plea also being used by the Anil Ambani group.
Hindustan Petroleum Corporation Limited’s Visakha refinery is all set to supply Euro-IV-compliant petrol from April 2010. HPCL has invested Rs 2,600 crore in Visakha Refinery to meet Euro norms.
The United Arab Emirate"s average sustainable crude oil production capacity is set to increase by 12.5 per cent to 3.06 million barrels per day (bpd) by 2014, the International Energy Agency (IEA) has estimated.
Asian stocks rebounded from earlier losses after Dubai secured $10 billion of funding to repay its debt. Japan shares dropped as a measure of business confidence showed companies are scaling back investment plans.