Business Ideas
JP Morgan Asset Management today announced the promotion of Christopher Spelman as the chief executive officer (CEO) of its India business and the appointment of Nandkumar Surti as the chief investment officer (CIO).
The Sensex opened weak this morning following subdued cues from its Asian peers. The Sensex opened at 16,827 and is now down 61 points at 16,798.
The first report on impact of climate change, to be out by November 2010, will be on agriculture, the government today informed the Rajya Sabha.
On December 20, 2009, the Andhra Pradesh cybercrime police arrested a 23-year-old internet hacker for allegedly swindling Rs 30,600 from an HDFC Bank customer. This is simply a case in point. While banks prefer not to go public about cybercrime for obvious reasons, Minister of State for Home Shakeel Ahmad informed the Lok Sabha in February 2009 that banks across the country lost Rs 6.57 crore to internet frauds in 233 incidents of cybercrime, with Tamil Nadu topping the list, in 2008.
The government today said India is willing to take on more responsibilities than other SAARC members for the economic development of the region but said "bright" prospects of co-operation have been hurt by cross-border terrorism.
A top diplomat of the Bush Administration who was its point man for negotiations on Indo-US nuclear deal, has accused President Barack Obama of being less attentive to the partnership between the two countries, saying the relationship has been stalled in some critical issues.
The gross budgetary support (GBS) for 2010-11 is likely to be 15 per cent more than what was provided for the current financial year. The finance ministry had earlier assured the Planning Commission of at least a 15 per cent increase in GBS but due to inadequate funds for ministries like rural development, education and railways, the commission sought a greater increase.
Stressing on the need for innovative policymaking, Planning Commission Deputy Chairman Montek Singh Ahluwalia today said evidence-based analysis of policies and their formulation are necessary to achieve robust economic growth.
For a sign of how the mood has changed at the World Economic Forum in Davos this week, consider the speakers at an invitation-only client lunch hosted by Paul Calello, who runs Credit Suisse Group AG’s investment bank.
Mulls vigil on deals between generic and innovator firms.
Eicher trucks and buses, a business division of VE Commercial Vehicles Ltd, reported a 14 per cent growth in sales in July 2009.
The economic and financial status of emerging market economies like India will continue to improve in the days to come and the recent downturn will help accelerate the trend, says a report.
News reports in business dailies, including this one, tell us almost every day that India and Asia continue to grow at a robust rate. While developed nations are still suffering from the effects of the recession, India and most of Asia are clocking impressive growth rates.
Slamming claims that it poses a threat to oil and gas sector regulator V K Sibal’s life, the Anil Dhirubhai Ambani group today said it would file criminal proceedings against the Director General of Hydrocarbons (DGH) for “defamation and character assassination”.
Yahoo! News has emerged as the top destination for news in India on the web and Times of India the most engaging local brand news site with maximum visitors, reveals a study.
The 92 per cent year-on-year growth reflected the additional revenues from the SEZ refinery numbers
Private sector fuel retailers Reliance Industries Ltd (RIL) and Essar Oil are varying prices of petrol and diesel from state to state to ensure that losses and profits are balanced. This even as they struggle to retain market share in the face of stiff competition from state oil companies, which can sell fuel at less than the cost as they are compensated for this by the government.
Two-wheeler maker Honda Motorcycle & Scooter India today said it is expecting its sales to grow by 18 per cent during the current fiscal on the back of several launches.
The UAE remains a popular destination globally among expatriate workers as employment prospects have increased by up to 8.3 per cent annually and is expected to maintain its upbeat growth this year, a leading Middle East online recruitment portal has said.
The total debt of cash-strapped Dubai could be as much as $170 billion, much higher than earlier reported, according to a report by EFG-Hermes regional investment bank.
The spiritual leader of Tibet, the Dalai Lama on Wednesday expressed concern over the global warming and its impact on the Himalayan Kingdom.
United Nations’ top climate change czar Dr Rajendra Pachauri has been accused of making a “fortune” from his links with “carbon trading” companies dependent on the world body’s policy recommendations.
All successful publishers and authors have an impeccable sense of timing and generate literature with an eye upon the calendar. So it isn’t surprising that we have a flood of books on the fall of the Berlin Wall that started the process of disintegration of the Soviet Union and the collapse of communism in Europe. But what we have is an embarrassment of riches which try to unravel why such an all-embracing system that Alexander Solzhenitsyn described as “all pervasive, paranoid, oppressive, incompetent, lethal” in the latest edition of The First Circle (Harper, $18), came to an unexpected end. Almost everyone had expected that it would have to be killed; instead it collapsed, as if a house had fallen in on itself. What happened?
Seema Sindhu / December 7, 2009, 0:37 IST
Karnataka claims to have gone far ahead of other states when it came to using job fairs and helping job-seekers find jobs. It is part of the Centre’s efforts to promote job creation through the development of skills and promoting employment.
Lowe India chairman and Cheeni Kum director Balki strayed into advertising, hoping to meet Ramesh Sippy. Now, many years and accolades later, he has discovered the mantra to success. “Unsureness”, he tells Aabhas Sharma
Government today informed Rajya Sabha that it has issued a show cause notice to "Colors" television channel for telecasting obscene visuals in the ongoing reality show "Big Boss 3".
India"s exports declined by 28.4 per cent in July over the same month last year, contracting for the tenth month in a row, as overseas shipments were hit by slowdown in major global markets like the US and Europe.
Rakes in Rs 240 crore in 10 days.
She began her career as a choreographer and then moved into film direction with aplomb. A full-time mother of three, Farah Khan is back in a new avatar as a talk show host for Tere Mere Beach Mein that is being aired on Star Plus.
The government is in the final stages of setting up an Empowered Nodal Group which could act as a single point authority for disbursement of news in the event of major crisis like Mumbai terror attack.
The issue of proposed amendments to the existing Copyright Act, 1957, is becoming a flash point between broadcasters and the Ministry of Human Resource Development (HRD), with news broadcasters asking the government to take them into confidence before undertaking any amendment to the law.
Ten rich brats become slum dwellers for a new reality show on UTV Bindass.
The Delhi High Court today allowed entertainment channel NDTV Imagine to continue its reality TV show "Pati Patni Aur Woh," by staying the National Commission for Protection of Child Rights order to cease telecast.
After Switzerland, South Africa, New York and Hong Kong, it is Egypt that is now looking at grabbing a piece of the Bollywood film action.
The Organisation of Petroleum Exporting Countries (Opec) has projected that a rise in India’s gross domestic product (GDP) would lead to increased oil consumption next year. India oil demand was not affected by the economic crisis in 2009, and next year’s oil usage is forecast to grow further. All sectors are seeking more energy and new vehicle registrations are expected to continue the fast growth of 2009. These factors would push up oil demand by 15 per cent, making it the fastest growing product in terms percentage rise, Opec said.
Terming as "unfortunate" the stalled Indo-Pak talks, Pakistan has advocated delinking of resumption of composite dialogue from the 26/11 probe, saying it was "seriously" pursuing all the leads provided by India.
In a blunt warning, US has threatened to take "unilateral action" by sending its troops to Pakistan to shut down Taliban and other terrorist camps there, if Islamabad does not take decisive action against them. The Americans want the Pakistanis to target Haqqani network based in north Waziristan and Taliban supremo Mullah Omar and the members of the groups top Shura, believed to be hiding in Baluchistan.
Kingfisher Airlines Vice-Chairman G R Gopinath, who has been steadily reducing his stake in Vijay Mallya-led Kingfisher Airlines has further sold shares worth Rs 6.31 crore of the private carrier.
After India-born billionaire Lakshmi N Mittal, French oil major Total SA has pulled out of the planned $10 billion refinery-cum-petrochemical project at Vizag in Andhra Pradesh.
The number of foreign tourists visiting Japan saw a 23 per cent decline in July, a report by Japan National Tourism Organisation pointed out.
Swine flu claimed eight more lives across the country raising the total number of deaths to 359 till now.
Consumer electronics major LG Electronics India Limited on Monday opened the first LG Shoppe in Orissa here to offer the entire bouquet of its products in a single outlet.
Mahindra & Mahindra (M&M), the country"s leading utility vehicles maker that recently forayed into the two-wheeler space, is now eying to source parts from China for cost advantage.
General Motors Co, seeking to shed brands after emerging from bankruptcy, is nearing an agreement to sell its Hummer sport-utility vehicle business to China’s Sichuan Tengzhong Heavy Industrial Machinery Co for about $150 million, said three people familiar with the deal.
The market as expected drifted lower after giving a downward breakout. It may test further lows before bouncing back.
Banks may soon have to cap the charges on basic services such as issuing a draft, remittances or for stop-payment instructions.
A probe panel looking into the crane mishap at Delhi Metro site during debris clearance today held the contractor Gammon India responsible for the "unusual" incident which it said was due to "mismanagement and lack of professionalism".
Second hand demand entirely for the top-end LX variant
With an expected rise in the key lending rates the government should continue with the stimulus measures to support exporters, an industry body said today.
The Nifty on Friday closed above the resistance level of 5,060 to keep the current bull run moving. The index, however, is expected to face resistance above the 5,100 level next week. The SGX Nifty futures was down by over 50 points over the official close of 5,077 in the over-the-counter (OTC) session on Friday. The US and European markets closed more or less in a Doji pattern, indicating indecisiveness among participants. If this weakness continues, then we may see a gap-down opening on Monday.
Company launches ‘Cash & Carry’ format.
Exports from the Special Economic Zones (SEZ) are likely to grow by 15 per cent in the current fiscal over 2008-09, a senior government official today said.
Andhra Pradesh chief minister K Roasiah said the central and state governments had a task to strike a balance between growth and inflation. The three fiscal stimulus packages announced by the central government infused liquidity for maintaining economic growth.
Hyundai Motor Co, LG Electronics Inc and other South Korean companies will get greater access to India’s 1.2 billion people in a trade deal to be signed tomorrow.
Gujarat Chief Minister Narendra Modi, who returned from abroad two days back, tested positive for swine flu today, a doctor attending on him said.
Mumbai-based auto maker Tata Motors today stated that its wholly-owned subsidiary Tata Motors European Technical Centre plc (TMETC) has received a loan of £10 million (Rs 78.81 crore) from the UK government for its £25 million (Rs 197 crore) electric car programme.
The summer internship placements at XLRI School of Business and Human Resources, Jamshedpur, concluded with the entire batch of 240 students of the 2009-2011 batch being placed in reputed Indian and international firms. The presence of some of the biggest names in the various sectors indicated that good times are back, giving XLRI an optimistic outlook for the impending final placements of the batch of 2008-2010.
German luxury car maker Audi today said it will start assembling its Sports Utility Vehicle (SUV) Q5 in India by March next year and is expecting its sales to grow by about 70 per cent in 2009.
Diversified business conglomerate ITC Ltd is targeting a Rs 1,000-crore turnover from its stationery business in three to five years, led by new product launches targeting school children and institutions. It’s current revenue from this business stands at Rs 280 crore.
Aurobindo Pharma Limited has received the tentative approval for Atomoxetine Hydrochloride capsules in 10mg, 18mg, 25mg, 40mg, 60mg, 80mg, and 100mg strengths.
The Tata Group would be happy to do anything that suited the state of West Bengal or the present government, said Tata Group chairman Ratan Tata , in response to Tata Tea share holders on Singur.
Over 12,000 non-teaching staff of the seven Indian Institutes of Technology (IITs) went on a day-long dharna today to protest anomalies in pay and promotion structure. The employees — technical staff, laboratory staff and office assistants — however, did not boycott work.
Having established its competence in acquiring intellectual property (IP) in telecom equipment, Bangalore-based Infinite Computer Solutions (India) Limited is now eyeing the remote infrastructure management (RIM) in the US, Europe and India markets. While currently Infinite Computer Solutions serves few customers in RIM vertical in these markets, the company is hoping to grab a larger pie in the near future."Our core competence lies in IP acquisition in telecom.
Speciality Restaurants Private Ltd, which runs restaurant chains like Mainland China, Sigree, Oh! Calcutta, Machan and Flame and Grill, is planning to dilute its equity by up to 30 per cent to raise money for its expansion plans, besides planning an initial public offer (IPO).
To help reduce capital expenditure up to 50%
Amid rice prices going up, the government today said it has no plans to abolish customs duty on rice import for now as there is sufficient stocks of the foodgrain.
Gold prices are likely to surge further this week to rule over Rs 15,000 per 10 grams level amidst a weakening dollar and rising demand ahead of the festival season.
Mumbai, Nov 28 (PTI) The bullion market bounced back today from its overnight sell-off regaining its lost ground on fresh buying by stockists and traders at current attractive levels.
The country"s largest software exporter Tata Consultancy Services (TCS) today announced that trainees joining it this fiscal would not be eligible for variable pay of about Rs 5,000 a month in the first six months.
India"s retail industry boom gave way to despair in 2009 as consumers held back big spending, forcing some companies to restructure finances, while recession-battered western retail chains would have felt glad they were not allowed to set shop.
Country’s largest IT firm, Tata Consultancy Services (TCS), has won the country’s largest State Wide Area Network (SWAN) project from the government of Andhra Pradesh on a five year Build, Own, Operate, and Transfer (BOOT) model.
India today asked countries in the region to take "urgent, proactive measures" to cooperate and eliminate terrorism in all its forms and manifestations to ensure that these forces do not derail the processes of progress and prosperity.
Food Corporation of India (FCI) would procure 2.6 million tonnes of paddy from Punjab in the ensuing kharif season, as compared to 213,000 metric tonnes it procured during 2008-09.
Information Technology major IBM today launched a new infrastructure service model targeting Small and Medium Businesses (SMB) in Tier-II and Tier-III cities.
Gold prices will continue to remain bullish and are expected to hover around Rs 16,000 this week as the US dollar is showing a weakening trend amid a better demand for the metal in the domestic market, analysts said.
The Centre today said state governments had been asked to prepare the local-level adaptation action plans on climate change, consistent with the objectives of the National Action Plan on Climate Change (NAPCC). Necessary assistance is also being provided to the state governments (to tackle climate change) subject to availability of funds, Environment and Forests Minister Jairam Ramesh said in reply to a written question in the Lok Sabha.He said a study on “the impact of climate change in India” had been launched under a joint Indo-UK Research Programme.
Business Standard / New Delhi December 02, 2009, 0:52 IST
After taking a two-day break, bulls re-entered the market today buoyed by good results from Maruti Suzuki India and ITC.
Amid fears by Maldives that one of its island resorts could be taken over by terrorists in the absence of military assets, India will sign a defence pact with that country during Defence Minister A K Antony"s three-day visit there.
The country’s largest car manufacturer, Maruti Suzuki India, expects double digit growth over the next few months.
The country"s biggest car maker Maruti Suzuki India today said it would shift some of its car production from its Gurgaon plant to the new facility at Manesar in a phased manner.
In my mind
Barely a day after Force India’s historic podium finish at the Belgian Grand Prix, a war of words broke out between Sports Minister M S Gill and Vijay Mallya on the government’s refusal to acknowledge Formula One as a sport.
Honda Motor Co’s withdrawal from Formula One racing in December to save money may give it an advantage over rivals: fresh blood from an elite cadre of engineers to improve its Civic compacts and Odyssey minivans.
IN MY MIND
Kingfisher Airlines, owned by billionaire Vijay Mallya, has said it intends to raise up to Rs 450 crore through various instruments, including Global Depository Receipts.
IT major Infosys Technologies would start construction work on its second campus in the city in April 2010.
Hailing the decision of the two neighbouring countries to resume dialogue, the Pakistan media today said credit must go to both sides for "seizing the moment and breaking the impasse" and that they should build on the "breakthrough" achieved in the meeting between the two Prime Ministers.
The state-owned telecom service provider Bharat Sanchar Nigam Ltd (BSNL) is planning to seek exemption from paying licence fees, stating a clause under the National Telecom Policy of 1999 (NTP ‘99). At present, the company pays around Rs 3,000 crore per annum as licence fee to the exchequer.
State-run Bharat Sanchar Nigam"s (BSNL) net profit dipped to Rs 104 crore in 2008-09 as staff costs rose and revenues fell in the period, Rajya Sabha was informed today.
Indian steel tycoon Lakshmi N Mittal will get a 1 billion pound windfall from a European scheme to curb global warming under the "carbon credits" given to it.
May look at VRS later
China to remain the largest market, say analysts.
Standard gold prices crossed Rs 16,700-level for the first time in the history on the bullion market in the early trade on hectic stockists buying triggered by rise in the global market.
Sugar mills are in a fix since the Union government has not disbursed the entire interest amount due to the banks under the Rs 4,000-crore interest-free loans granted in December 2007. Of the estimated Rs 1,000 crore interest liability (for the last two years), the government has only disbursed Rs 300 crore to banks a couple of weeks ago.
Anil Ambani group firm Reliance Communications (RCom) today said its telecom tower subsidiary Reliance Infratel has filed the draft prospectus for its initial public offer with market regulator Securities and Exchange Board of India (Sebi).
Anil Dhirubhai Ambani Group (ADAG) company, Reliance Communications, today said its capex would decline significantly starting this year and continue on a downward trend in the future.
Indian submarine cable companies, including Tata Communications and Reliance Communications, re-routed at least 300-400 Gigabytes of internet traffic over both own and consortium cable networks between the Chinese mainland, Asia and Europe following the recent Taiwanese earthquake that disrupted communications across Asia and the Chinese mainland.
The government today said that natural gas from Reliance Industries" Krishna-Godavari basin fields will help cut fertiliser subsidy by about Rs 3,000 crore in 2009-10 fiscal.
The Prime Minister’s Economic Advisory Council, or PMEAC, has favoured a single slab each for goods and services or one common rate for both under the proposed goods and services tax (GST), unlike the proposal mooted by the states.
The markets have been dragged down by weak global cues. The US stocks fell overnight after Dubai"s unresolved debt problems and Fitch Ratings" downgrade of Greece"s bond rating dented risk appetite. And corporate news in the States raised doubts about consumer spending, a key requirement for the recovery to take hold. And the dampening investor confidence rubbed off on the Asian investor in morning trades.
The Sensex opened marginally (24 points) lower at 17,204 amid weak cues from the global markets. The index soon dropped to a low of 17,111, and is now down 47 points at 17,181.
The Sensex finally ended (provisional) at 14,774 - down 638 points. The Nifty ended (provisional) down 192 points at 4,388.
At the upper price band of Rs 212, it will be the most valued listed media company in India.
Corporate acquisitions in India could become costlier, with market regulator Securities and Exchange Board of India (Sebi) mulling making it mandatory for acquirers to make an offer for up to 100 per cent stake in any listed company.
The Madhya Pradesh government will tomorrow press for its demand to postpone proposed goods and service tax from April next year, as it has estimated that losses to all the states will be in tune with Rs 80000 crore before the committee on GST in New Delhi. “The Centre is putting important issues like health and education at stake if implementing GST, as revenues losses to the states would be much higher than calculated,” AP Shrivastava, principal secretary commercial tax department said, “The proposed GST is not different from VAT however the Centre has wrongly calculated tax-base and revenue losses at Rs 21.66 lakh crore (as per Tax Research Unit of Department of Revenue Government of India) and Rs 35,000 crore.” The state finance minister will demand that this is not an opportune time to implement GST and the Centre should give some time for VAT to settle down.
Rise of Congress, further decline of BJP and the relegation of the Left and some regional parties to the margins marked the highs and lows of politics in 2009 as price spiral poses an intense challenge to the government in the new year along with Naxal and cross-border terror.
Although West Bengal"s present contribution to the Indian automobile sector is negligible, the state could capture about 10 per cent of the projected size of the domestic industry by 2022, a study undertaken by CII and PricewaterhouseCoopers (PwC) has suggested.
Indian stocks trading on American bourses gained about $11 billion in one month, with IT bellwether Infosys and private sector lender HDFC Bank accounting almost half of the gains. For the month ended September 30, Indian entities listed on the New York Stock Exchange and Nasdaq added $10.61 billion to their market-cap, with Infosys and HDFC Bank together contributing $5.82 billion.
Amid increasing concern over financial health and rising operating cost, Railway Minister Mamata Banerjee is expected to table a white paper on the actual condition of the PSU on December 21, the last day of the winter session of Parliament.
Indian-American Anil Kumar, an accused in one of the the largest insider trading scam in the US, has agreed to waive indictment in the Galleon Hedge Fund case, in an indication that he might plead guilty as per a deal struck between him and the prosecutors.
Our low expectation of Hindi cinema could do with a push.
Business Standard / New Delhi August 26, 2009, 0:58 IST
India’s life insurance sector is expected to grow by almost 15 per cent in the current financial year and touch a total premium income of Rs 2,55,000 crore (about $ 50 billion).
Low economic activity and unwillingness by insurers to underwrite loss-making portfolios led to a fall in business for segments such as marine cargo and health.
In a sign of confidence in the Indian markets, foreign institutional investors (FII) pumped in over $6 billion, or about Rs 29,940 crore this year, with over $1 billion coming in July alone.
After becoming operational, the Indo-US civil nuclear deal is moving "satisfactorily" with the government now negotiating with nuclear vendors, Atomic Energy Commission chairman Anil Kakodkar said today.
Japan"s economy grew an annualised real 1.3 per cent in the July-September quarter, much slower than an initially reported 4.8 per cent expansion, the government said today.
The government at all levels needs to create an enabling environment to tap hydropower’s unrealised potential.
A V Rajwade / New Delhi December 07, 2009, 0:32 IST
Iron ore exports jumped 13 per cent in the first half of the current financial year due to a sudden spurt in Chinese offtake as steel mills build their inventory.
In a measure to control the circulation of counterfeit notes, the Reserve Bank of India (RBI) has directed banks to issue bank notes in denominations of Rs 100 and above either over their counters or through automated teller machines (ATMs), only after these banknotes are duly checked for authenticity and fitness by sorting machines.
The Indian Premier League (IPL) Twenty20 cricket tournament is expected to see renewed high-stakes bidding with two new teams up for grabs from the fourth season starting 2011.
The Department of Telecom (DoT) has "no objection" to the Russian government picking up 20 per cent stake in telecom service provider Sistema-Shyam Telecom (SSTL) for a little over $676 million (Rs 3,200 crore).
- Policy momentum required - A practical strategy - Rs 11,088 cr floating via chit funds in 3 southern states - Reacting to rumours - MS launches Windows 7, pre-loaded PCs start at Rs 15k - Back on the farm
Sunil Jain / New Delhi December 7, 2009, 0:29 IST
Amid speculations, that the Reserve Bank of India (RBI) may buy more gold from the IMF, the Prime minister’s Economic Advisory Committee (PMEAC) has said the central bank should wait for some more time before going for another round of purchases.
No clarity yet on brokerage fee, securities transation tax yet.
IT firm Wipro Technologies today said it will hire 5,000 people in the next couple of months and is looking at a fresh recruitment strategy of taking in graduates from non-engineering institutes.
Amid reports that the Satyam accounting fraud could be as high as Rs 14,000 crore, nearly double of what was confessed by its founder B Ramalinga Raju, the government today remained tight-lipped and said the real amount would be brought before the court of law.
Satyam Computer Services’ founder-chairman Ramalinga Raju and his aides forged board resolutions and unauthorisedly got loans/advances of Rs 1,220 crore in the name of Satyam Computers from banks but this is not reflected in the accounting books, according to the supplementary chargesheet the Central Bureau of Investigation (CBI) filed on Tuesday.
JMM chief Shibu Soren is all set to take oath as chief minister heading a five-party coalition in Jharkhand tomorrow, which will be the seventh dispensation in nine years since it became a separate state.
Auto major General Motors India today said it will commercially launch electric car Spark in October this year which could be priced at around Rs 7 lakh.
LNG importer Petronet LNG is eyeing 53 per cent growth in the top line at Rs 13,000 crore during the current fiscal, Petronet LNG Managing Director P Dasgupta said today.
Wanted: 1,800 volunteers for free holiday packages to Mexico and Guatemala! All inclusive. Also on the cards: Free vacation in India!
Japan will explore the possibility of strengthening co-operation between its universities and those in Maharashtra.
The Nifty closed in a Doji pattern after a breakout above 5,182 on profit-booking above 5,200. The trading volumes on the futures and options (F&O) segment declined by over Rs 10,000 crore with the number of contracts in index futures lower by almost 12 per cent. This means the participants are wary of taking positions at the current level as only two trading days are left for the expiry of the current series.
India, with exports of over 100 million tonnes of iron ore, must be keenly watching as to how soon the recently sealed joint venture (JV) between BHP Billiton and Rio Tinto to combine their mining operations in the Pilbara region of Western Australia will cross the regulatory hurdles at European Union Competition Commission and also China’s competition regulator. However, sweetly the JV is now framed to placate raising of market dominance questions, iron ore buyers fear that pooling of knowledge about production volumes and demand by the pair in JV will put them at a distinct disadvantage.
China vs. Iron ore oligopoly: China could fracture the world’s iron ore oligopoly. Three miners – Vale, BHP Billiton and Rio Tinto – control two thirds of international trade. The big producers are consolidating, most notably with a joint production venture between BHP and Rio. China, the world’s largest customer, would like to keep its costs down and its supply assured.
Bernanke: Ben Bernanke could be in danger of becoming “person of the year” again in 2010 or 2011 – for less positive reasons than this time around. The Federal Reserve boss made the front of Time for his influence and for his possible role in heading off a depression. But he and the rest of the Federal Open Market Committee are in no hurry to lift interest rates despite the recovering US economy and signs of inflation. The risks in this approach are intensifying.
Sreelatha Menon / New Delhi November 15, 2009, 0:36 IST
Mahindra & Mahindra gave all its gains and slipped to a low of Rs 813. The scrip finally settled flat at Rs 820. The counter clocked volumes of 239,425 shares as compared to the two-week daily average traded volumes of 277,548 shares.
Business Standard / New Delhi December 03, 2009, 1:34 IST
The rupee fell, reversing earlier gains, on speculation importers used the currency’s rise to a week’s high today to buy cheaper foreign exchange.
Manmohan Singh / January 3, 2010, 0:41 IST
Lloyds Banking Group Plc, Britain’s biggest mortgage lender, said it plans to cut about 5,000 jobs in its administration, insurance and mortgage units.
Bharat Heavy Electricals Ltd (BHEL) has expressed its inability to put up the proposed power project at the Tata Motors" abandoned Singur site, in a written communication to the West Bengal Power Development Corporation Ltd (WBPDCL).
State Bank of Mysore has extended its two 8 per cent home loan schemes till March 31, but has begun levying processing charges from this month, a source in the bank’s personal and services banking department said. The schemes were set to expire on November 30.