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We're beating IT mkts on their own turf: IBM
The emerging nations of India, China, Brazil and Russia are firing IBM's growth and constituted five per cent of the company's second-quarter revenue.
Why it drips only on us
Leaking roofs are typical of new-age houses. As we move into our new homes in the city, we need to deal with a problem that our previous generations did not...
Inflation unchanged at 4.27%
Inflation remained unchanged at the previous week's level of 4.27 per cent in the 12 months to July 7, despite a fall in some food prices, govt data showed.
Ericsson Q2 profit climbs but misses forecast
Ericsson, the world's biggest mobile network maker, reported softer-than-expected second-quarter earnings on Friday but said the company continued to outperform the market.
Satyam Q1 net up 7%, but below forecasts
Satyam Computer Services Ltd, India's fourth-largest software exporter, reported a 7% rise in quarterly profit, below forecasts as a stronger rupee hurt margins.
Sensex up by 132 points in early trade
The Bombay Stock Exchange benchmark Sensex rose over 132 points in early trade on the back of buying by foreign funds in heavy-weight stocks led by Reliance Industries.
Dow Jones director resigns over takeover
A director on the board of Dow Jones & Co Inc has resigned because he could not support its endorsement of a USD 5 billion takeover offer from Rupert Murdoch's News Corp.
TCS is India’s top employer
Tata Consultancy Services, the largest Indian IT company in terms of sales, is also the top employer in the country with a workforce of 95,000 employees as on June 30, 2007.
Expert lays stress on aviation and hospitality sectors
It's not resources that prevent Indian companies from building global brands but a lack of coordinated effort in industrial positioning, according to Erich Joachimsthaler, an expert in brand creation and founder & chief executive officer of Vivaldi Partners.
ICI India targets 20% revenue growth this fiscal
Paints major ICI India Ltd is targeting a revenue growth of 20% in 2007-08. Paints sales are expected to grow at the rate of 22% in both the decorative and refinish segments, with the industry growing at an average of 18%.
Assam's first biomass power project in August
"We expect to start the plant within a month. The power generated by this plant will meet the entire energy requirement of the production facility of Barak Valley Cements and contribute towards conservation of fossil-fuels.
Wipro to study Unza brands before Indian push
Wipro Ltd will reconstitute the board of Unza, the Singapore-based fast-moving consumer goods major that it acquired recently, but expects to retain the top management headed by managing director Gavin D Welman.
TCS is India’s top employer
Tata Consultancy Services, the largest Indian IT company in terms of sales, is also the top employer in the country with a workforce of 95,000 employees as on June 30, 2007.
Sick tag by BIFR turning away bankers: Ruia
Pawan Ruia is struggling to keep the Sahagunj unit of Dunlop India running. He restarted production at the factory last month amid allegations that lack of working capital was hurting operations, and is yet to resolve the issue.
GM to roll out one more small car
After Uva and Spark, General Motors is seriously considering to launch one more mini car under its famous Chevrolet platform.
Glenmark acquires two bio molecules from Swiss firm
In the first-of-its-kind deal in the biological molecules space, Mumbai-based Glenmark has purchased two new biological entities from Swiss company Chromos Molecular Systems for an undisclosed sum.
JSPL to invest $2.1 bn in Bolivia over 5 years
Jindal Steel and Power Ltd said it would invest $2.1 billion in Bolivia over the next five years to set up a steel plant of 2 million tonne, a pellet plant, a sponge iron plant and 450 mw power plant.
Wipro BPO to set up new centre in US
Wipro BPO will set up a new centre in the US in the current fiscal to tap compliance-sensitive projects.
MFs shy away from FMCG, auto stocks
FMCG and automobile stocks have fallen off the radar of fund managers who have considerably reduced exposure in these sectors in the last one year.
Indian IT companies set for global takeovers, says Springboard Research
The next couple of years will be buzzing with lot of merger and acquisitions; but this time around it will be Indian companies making large acquisitions rather than the multinational companies dominating the takeover domain.
Sensex at a new high, vaults 249 pts to close above 15,500
The bull is raging at Dalal Street and so is the curiosity among investors. Taking cues from its Asian peers, the 30-share Sensex of the BSE, closed at an all-time high of 15,550.13 points, gaining 1.63% or 248.96 points.
Reliance Comm to sell 5% stake in tower biz for Rs 1,400 crore
The deal pegs the equity valuation of the company at Rs 27,000 crore. RTIL is also evaluating a possible initial public offering or equity placements.
DLF net at Rs 1,515 cr; L&T, ACC zoom
With a turnover of Rs 3,120.98 crore and a net profit of Rs 1,515.48 crore, DLF Ltd showed robust growth across its business verticals in the first quarter ended June 30, 2007.
Bond yields up ahead of auctions, Re at 40.3525/3625
The bond yields snapped a three-day fall, rising as investors thought it wise to lock in some profits ahead of auctions of Rs 9000 crore of bonds and inflation data.
Raheja, QBE insurance JV
The Rajan Raheja Group and Australian QBE Insurance Group announced that it has signed a joint venture agreement to establish a general insurance company in India.
Irda lists norms for closure of liaison offices in India
The Insurance Regulatory and Development Authority has announced a set of norms for closure of liaison offices established in India by insurance companies registered outside India.
RBI eases derivative trading norms
In a move to further deregulate the Indian equity derivatives market, the RBI has broadened the number of instruments for maintenance of collateral by foreign institutional investors undertaking derivatives transactions.
RBI’s forex return up at 3.9%
International Monetary Fund had designated India as a creditor under its Financial Transaction Plan in February 2003, in terms of which India participated in the IMF’s financial support to may countries.
CorpBank cuts home loans rates by 25 bps
Corporation Bank cut home loan rates by 25 basis points cross the board This is the first bank to cut rates on loans above Rs 20-lakh.
BoB targets Rs 3 lakh cr business
Bank of Baroda, as part of centenary year, 2007-08, has set a business volume target of Rs 3 lakh crore over the next three years.
‘Crude to touch $80 in 6 months’
Crude oil prices will rise to $80 a barrel within six months, said billionaire T Boone Pickens, whose bullish bets on energy prices have earned him a place on the Forbes list of the richest Americans.
Coconut oil up on festive demand
With the festival of ‘Onam’ round the corner, coconut oil prices are likely to increase by 15-20% in the short term. The demand for coconut oil increases by 30-40% during the festival season, traders said.
Olive oil producers eye Chinese, Indian buyers
A global body representing olive producers based in Madrid said it planned to launch marketing campaigns in China and India to promote the consumption of olive oil in the two emerging markets.
Steel output growth slows to 17-month low: Credit Suisse
Global steel production expanded at its slowest pace in 17 months in June, indicating that Chinese mills may be responding to government pressure to restrain output, Credit Suisse said.
CSB sets 26k tn silk target
Central Silk Board has set a target to achieve 26,000 tonne of silk production per annum including 5,000 tonne of bivoltine in the 11th Plan.
Kerala urges Centre to ban futures trade in rubber
Kerala government will ask the Centre to either ban or strictly control the future trading in rubber trade, finance minister TM Thomas Issac said in the assembly.
Tin rises to 18-year high on production shortfall
Tin led gains in London, rising to the highest since at least 1989, on speculation that supply disruptions in Indonesia and Bolivia and increasing demand will create a shortage of the metal.
REL to build three national highways
Reliance Energy said its special purpose vehicles—SU tollways pvt limited, TU tollways pvt limited and TK tollways pvt limited—have bagged projects to build three national highways from the NHAI, entailing an investment worth Rs 2,320 crore.
BHEL bags Rs 6.3-cr PowerGrid deal
BHEL has secured an order from PowerGrid for design, development and supply of higher rating porcelain disc insulators for applications in 800 kv plus Ultra High Voltage Direct Current transmission lines.
PC sales on a northward trend: Mait
Led by a buoyant buying sentiment in the notebook segment, PC sales crossed 6.3 million units in 2006-07, registering a growth of 26% over the previous year.
Vertical monopoly-free media?
A 20% ceiling on cross-media restrictions across print, electronic and FM radio sector is believed to be in the offing with the Government mulling the restrictions to prevent vertical monopolies in the broadcast sector.
Closing price on vesting day may fix FBT on Esops
The finance ministry may settle for the closing price of shares of a listed company on the stock market on the day the scrips are vested with employees to decide valuations for the fringe-benefit tax.
Retail service providers could see new FDI norms
Given the fresh proposals before the Foreign Investment Promotion Board from retail service providers, the government is considering fresh guidelines for FDI.
Wipro net up 17% at Rs 726 crore
India’s third largest software exporter, Wipro Ltd, put up a less than impressive performance for the first quarter ended June 30.
ICICI Pru AMC accuses former MD Razdan of inappropriate conduct
The AMC’s move comes after two enquiriesone internal and one at the board levelfound Razdan guilty of such misdemeanours.
O&M India to build global Lenovo brand
Lenovo, the third largest personal computer maker in the world after Dell and HP, and the largest in the Asia-Pacific region, has appointed O&M India to coordinate all mass media advertising for the Lenovo brand worldwide.
Granny gets the ultimate bandwidth
She is a latecomer to the information superhighway, but 75-year-old Sigbritt Lothberg is now cruising the Internet with a dizzying speed.
The Apprentice
NBC television is inviting celebrities to try to wow Donald Trump in the next version of The Apprentice. And while it would make for a marquee matchup, don't expect Rosie O'Donnell to be among them.
Current supply pact hurts gas-based projects: RNRL
Reliance Natural Resources Ltd (RNRL) in the Bombay High Court on Thursday argued that the gas supply masters agreement (GSMA) in the current form frustrates the formation of RNRL and also impacts the gas-based power generation plants of Reliance EL.
Now, railways embark on ad journey to fill coffers
There’s good news for Corporate India advertising ambitions, who will now have an opportunity to communicate with their consumers by one of the largest modes of transport.
NTPC, GAIL may quit Dabhol LNG on cost overrun
LNG terminal without break water is expected to be completed in March 2008 and with break water in May 2010.
Chief secys to discuss public-private ties in core sector on July 21
With an eye on the general elections and lack of pace in roping in states to accelerate development of infrastructure projects, the Centre has convened a meeting of the state chief secretaries to facilitate public-private partnerships in infrastructure projects.
‘Labour-based units key to double-digit growth’
While appreciating the growth that the IT and software industry has witnessed recently, he said these capital-intensive sectors can generate limited employment.
CIL expansion in limbo as IPO ruled out for now
Even as Prime Minister Manmohan Singh is advocating presence of more public sector companies on the bourses, the coal ministry has ruled out the initial public offer of Coal India Limited in the near future.
Advance estimate paints a rosy picture for agriculture output
The government on Thursday said the country’s total food grain production could touch a record 216.13 million tonne in 2006-07, with an estimated increase of 5.5 million tonne in wheat output.
Need pet care tips? Call farmers’ helpline
If you had thought that the toll-free kissan call centre number, 1551, was for farmers, think again. For, almost 30% of the calls made to the number are from urban areas, with callers asking for assistance in home gardening.
FDI proposals worth Rs 590 cr get the nod
The government on Thursday approved 17 foreign direct investment proposals worth Rs 589.85 crore. These include a Rs 313.33-crore proposal by Sweden-based Quinn Hotels to develop hotels in India.
Govt to spend more on textiles uplift
The government will set aside more money for the textiles industry because funds earmarked in this year’s Budget may not be enough to support the planned, wide-scale sector reforms.
Leader of the swarm
This summer’s Exchange Forum, an industry event attended by Europe’s top stockmarket operators, was a strange place to see Christopher Hohn, the founder of The Children’s Investment Fund.
Arresting developments
The ability to synthesise huge screeds of DNA at will means the genomes of viruses can be replicated already, and replicating those of bacteria is not far off.
Studied neutrality
One factor in the success of India’s telecom sector has been the stance of technology agnosticism taken by the Telecom Regulatory Authority of India.
Listing venue should be decided on firm’s needs
Today, companies have a range of listing options, from Indian markets to established international financial centres such as London, New York and other emerging financial centres like Singapore
China GDP growth jumps to 11.9%
China’s annual economic growth surged to an 11-½ year high of 11.9% in the second quarter, cementing expectations for tighter policy to keep the world’s fastest-growing major economy from overheating.
An AIM for Indian SMEs is long overdue
Since Indian investors are showing a greater appetite for taking risks and participating in the equity market, Sebi should seriously think of having an alternative platform for SMEs to raise capital
Consolidated relationship
Ms Seema Chishti has suggested (‘The Next Big idea’, July 19) that the Congress should now shift into fourth gear. Having failed in agriculture, PM Manmohan Singh is taking a direct interest in this sector
‘It’s a misconception that AIM is lightly regulated’
AIM provides an appropriate regulatory environment for SMEs and addresses the balance between investor protection and the need for SMEs to have access to capital to grow.
Bush creates study group to assess import safeguards
President George W Bush on Wednesday ordered creation of a panel to study whether the US needs more stringent safeguards for imported food and other consumer products following a rash of complaints about goods from China.
City in a bottle
To judge by the interminable queue outside Boogaloos restaurant in the Mission District, San Francisco is thriving again.
Left parties pitch for Muslim V-P
The Left parties are in favour of a Muslim with “strong secular credentials and progressive outlook” to be their candidate for the Vice-President’s post.
Despite Amma’s U-turn, it’s advantage Pratibha Pratil
With all indications pointing to a one-sided contest in favour of UPA-Left candidate Pratibha Patil, Opposition NDA-backed independent candidate Bhairon Singh Shekhawat suffered because of cracks in his supporting alliance and also in the nascent UNPA.
Fab policy redux
Dayanidhi Maran has seemed sullen ever since he had to exit the Cabinet as the IT and communications minister.
Dilly-dally no further
Agriculture’s average annual rate of gross capital formation was just 0.77% from 2000-01 to 2004-05. In contrast, the figure for the entire Indian economy was 26%
Iraq: more than America’s problem
It may be too late for the US to succeed in Iraq, but it is not too late for others to increase the odds that the US does not fail
UK-Russia diplomatic squabble may hit investments, but not gas supply
Britain’s political row with Moscow is unlikely to jeopardise Russian energy supplies to Europe but may hamper investments in Russia, analysts say.
Variance in views
Even after five years of the supposed dismantling of the APM, India’s state-run oil companies have to go to the petroleum ministry to plead for oil bonds to defray at least part of the growing gap between their input and output costs.
Vodafone adds 9.1 mn users on India call
Vodafone, the world's second-biggest mobile operator in terms of customers, said it added 9.1 million subscribers in three months ended June – including nearly one-third from India where it entered through a 10.9 billion dollar acquisition of Hutch-Essar.
Govt passes 17 FDI proposals
The govt approved 17 FDI proposals worth Rs 589.85 cr, including Rs 313.33 cr from Sweden-based Quinn Hotels, which proposes to develop hotels in the country.
BSNL inks GSM equipment order with Ericsson
State-run telecom firm BSNL has placed the order for mobile equipment of 14 million GSM lines with Swedish vendor Ericsson at a cost of 80 dollar per line.
Online jobs, matrimony biz to reach Rs 565 cr
By 2008 around 25 mn users are likely to register themselves for online job search and matrimonial alliances resulting in Internet business of around Rs 565 cr.
Jindal to invest $2.1 bn in Bolivia
In the biggest investment by an Indian Co in S.America, Jindal Steel and Power Ltd announced projects worth more than Rs 8,000 crore in Bolivia to set up a steel plant.
Reliance Comm sells 5% in tower unit
Reliance Communications Ltd has sold 5% of its 270 billion rupee telecom tower business, and could sell more through an IPO or further placements, Anil Ambani said.
Vodafone adds 9 mn subscribers in first quarter
British mobile phone group Vodafone said that it won 9.1 million new customers during its first quarter, almost double the amount a year earlier, owing to strong growth in emerging markets.
Bank of Baroda aiming for Rs 300,000 cr biz
Bank of Baroda said it was targeting to increase business by almost 50% to Rs 300,000 cr by 2010, while also expanding international operations and acquire banks overseas.
Financial literacy can help mitigate risk: FM
FM P Chidambaram has stressed on the need for financial literacy and instilling confidence among investors who burnt their fingers twice in two major scams in the stock markets in early 1990s and 2001.
China's GDP zooms at 11.5 per cent
China's economy grew at a sizzling 11.5% in the first half owing to it's record performance in the second quarter but surging inflation could be a cause of concern, analysts said.
'Wipro seeks to invest in Canada, Germany'
Wipro Ltd, the country's third biggest software services firm, on Thursday said it was looking for acquisitions in Germany and Canada to take advantage of the growing markets there.
Worldwide PC sales up 12%, led by HP
Worldwide personal computer sales posted robust Q2 growth, with shipments climbing about 12% from a year earlier as Hewlett-Packard Co led the pack, two research groups said on Wednesday.
Ranbaxy Q2 net up 118 per cent
India's largest drug firm Ranbaxy Laboratories on Thursday reported a 118 per cent jump in its consolidated net profit for the second quarter ended June 30 at Rs 266.2 crore.
BHEL gets $1.6 mn Power Grid order
Bharat Heavy Electricals Ltd said on Thursday, it had received an order from Power Grid worth 63 million rupees for supplying high-rating porcelain disc insulators.
DLF Q1 net at Rs 579 crore
India's most valuable real estate firm, DLF Ltd, posted a net profit of Rs 579.27 crore and total revenue of Rs 1207.11 crore for first quarter ended June 30.
India approves BSNL move to slash GSM tender
India's telecoms minister has cleared a decision by state-run firm BSNL to halve the size of a major GSM equipment tender, a business daily reported on Thursday.
High food, oil prices a concern: FM
Prices of commodities, food grains and crude oil are a concern and the country must do its best to keep inflation down, FM Palaniappan Chidambaram said in an interview.
ICICI mutual names Nilesh Shah deputy MD
ICICI Prudential Asset Management Co Ltd has appointed Chief Investment Officer Nilesh Shah as deputy managing director, the fund house said in a statement.
Sensex at new high of 15,463.39 points
The BSE benchmark Sensex climbed to hit another intra-session high of 15,463.39 points at 11:15 hours on Thursday after most heavy-weight stocks, led by RIL, made strong rally.
IBM net jumps 12 per cent in Q1 results
IBM, the world's largest tech services company, posted a 12% jump in quarterly profit and raised its earnings forecast as revenue surged on software-company acquisitions.
Wipro Q1 profit up 16 per cent, lags forecast
Wipro, which offers IT solutions such as system integration, software application development and back-office services, said net profit rose to Rs 7.1 bn in April-June.
Subprime worries, Bernanke talk hurt stocks
US stocks fell on deepening concerns that a crisis in lending could spread and a warning from the Federal Reserve chairman that weakness in housing could hurt economic growth for some time.
Kundli-Palwal expressway to function from July 2009
The construction work for 135.6-km long Western Peripheral Expressway also known as the Kundli-Manesar-Palwal expressway is going on at full swing.
Jambeshwar Univ opens B-school
To align management education with market requirements, Guru Jambheswar University of Science and Technology, Hisar, has established the Haryana School of Business.
Waste management scheme for Haryana
Haryana government has prepared a detailed project report for implementing waste management schemes costing Rs119.59 crore for four towns namely Faridabad, Rohtak, Karnal and Indiri.
Himalaya eyes overseas market for herbal business
He said the Himalaya products can be found in Cayman Islands, Costa Rica Kenya, Latvia, Mongolia, Mexico, Nicaragua, Slovak Republic, Trinidad and Uzbekistan. The company plans to cover 84 countries by the year- end.
Extend industrial corridor to Punjab: CM
The Punjab government has written to the Centre requesting to extendthe proposed Mumbai-Delhi industrial corridor to Amritsar.
Railways, steel industry in 11th Plan freight capacity tussle
Responding to a presentation made by SK Lahiri, CII Jharkhand Chapter's infrastructure core committee member, here on Tuesday, SER general manager Vijay K Raina described the situation as 'the crux of the problem'.
Orissa's revenue target from transport unrealistic: panel
The Orissa finance department's move to collect more revenue has left the mandarins in the transport department high and dry. Last year, the transport department failed to achieve the target.
Call for steel cos to reduce power consumption
The Indian steel industry must reduce the energy consumption, which is one of the highest in the world, according to clean development mechanism consultant VK Duggal.
MSP group plans cement unit in north-east
MSP group is planning to set up a one million tonne cement unit in north-east India, according to its director Saket Agrawal.
Appreciating Re hits Bengal garment makers hard
Garment manufacturers of West Bengal, stung by the appreciating rupee, fear loss of jobs as profit margins have gone down significantly.
Eastern India a key market for Ford: McCormack
Ford India Pvt Ltd, backed by the strength of its best-selling model, the Fiesta, sold around 42,000 cars in 2006, which is an 87% rise over the 22,500 units sold the year before.
Texmaco to merge power, real estate arms with itself
KK Birla goup company Texmaco Ltd has decided to merge three subsidiaries engaged in hydel power, real estate and investment with itself.
Under the kremlin’s thumb
Prokhorov—tall, svelte, intense and often called Russia’s most eligible bachelor—usually unwound at such blowout parties, which he once told an interviewer embody his philosophy of life.
Dressed for every occasion
Everyone knows how important it is to dress well for a job interview—ditto for a trade association conference. But how about for the trip over and back?
Special Powers Act not a solution
Six decades of insurgency in the north-eastern states, inherited at the time of independence of the country has grown manifold by now.
Mixing business with Islam
“If you travel the developing world, you see poverty is the driver of tragic despair, and there is the possibility that any means out will be taken,” he says.
‘If you enjoy work,why strike a balance?
Having traded his dreams of becoming an economist for the family business, today there are no regrets.
‘We don’t believe in heavy advertising’
India. JL Morrison will continue to be our key distributors. They will also continue to manufacture our products. They are in fact part of a group of manufacturers to whom we have outsourced this function.
Dishing up the sky wars
At present DTH is leading the digital television revolution followed by CAS and IPTV. India is one of the largest media content-consuming as well as content-creating countries in the world. But revenue realisation has so far been very low.
RBI sells 91-day bills at lowest yield
India sold 91-day Treasury bills today at a cut-off yield matching the lowest since August 2004 at a weekly auction today.
Won climbs to near 2007 high; baht drops
The South Korean won rose, approaching the highest this year, on signs growth in Asia's third-largest economy is gathering pace.
Outsoursing firms seek tax benefits to promote exports
With a view to provide a fillip to the booming business process industry in India, the Business Process Industry Association of India has sought subsidies and tax benefits to promote export of services.
Increased life span may drive down premia
Insurers are seriously considering a downward revision of premiums after considering the fact that life expectancies of population have risen remarkably.
Import of sensitive items dips 7.9%
The import of sensitive items during April-May 2007 has been Rs 2,606 crore, a 7.9% drop from Rs 2,828 crore during the corresponding period last year.
Coal ministry okays allocation of 27 blocks
The ministry of coal approved allocation of 27 coal blocks, with an estimated capacity of 8 billion tonne of coal. These include, 10 blocks to power companies.
Plan panel mulls merger of job schemes
The Planning Commission has mooted a proposal to merge two employment schemes—Pradhan Mantri Rozgar Yojana and Rural Employment Generation Programme.
Farmland acquisition to continue: Bengal minister
The Left Front government will continue with its industrialisation drive based on acquisition of farmland since the state has very little barren or uncultivated land, commerce & industries minister Nirupam Sen told the legislative assembly.
Cardamom supply fall sharply
The resumption of cardamom auctions after the customary monsoon break has seen drop in arrivals by almost 50%.
Rlys tickets from post offices soon
You will soon be able to buy your railway ticket, when you go to buy stamps or post a letter at the post office. The railway ministry’s long-delayed project to sell tickets at post offices is likely to begin soon.
Voters unhappy with Bush; Congress: survey
Most US voters think the country is on the wrong track and remain deeply unhappy with President George W Bush and Congress, but still feel good about their finances and optimistic about the future, according to a Reuters/Zogby poll released.
‘Nuclear deal talks in last leg’
The Prime Minister, however, refused to specify a time frame for the deal to be clinched, as he said, “When, I can’t say.
The next Big Idea
Of course, the show will pull along, but if the central political party in the country wants to be more than just a survivor, it needs much more than a survival strategy as it goes into fourth gear before the 2009 polls
WPP eyes acquisitions in India
WPP Group Plc, the world’s second largest marketing services company is scouting for acquisitions in the digital domain as part of its growth strategy in India.
Airlines hope to see profit with fare hike
With consolidation taking place in the aviation industry, airline companies have hiked their fares by Rs 200 to Rs 300 across all the sectors in an attempt to bring the industry back into black.
Novartis to warn Indians on effects of asthma drug
Swiss pharma major Novartis has approached the Drug Controller General of India, seeking a change in the label of its popular asthma drug Xolair by including more information on its side effects.
Pratibha sits pretty as stage is all set
Although, regarded as one of the most bitterly campaigned presidential elections in the history of India, the fight for ballots seem to be one-sided as the ruling UPA-Left combine’s candidate, Pratibha Patil, is sitting pretty with majority of the votes in her kitty.
Tourists flock to Bali despite new travel warnings
Bali, the lush Indonesian island famous for its sun-kissed beaches, is drawing tourists in droves, and travel warnings that Islamic militants might strike again has done little to dampen the spirit.
NHB plans 2 million low-cost houses
The ministry of urban development and poverty alleviation along with the NHB is planning to set up at least 2 million low-cost houses in the next few months. These low-cost houses will come up in metros and other urban areas.
China, US to sort out quality issues on food products
Amid global concerns about the standard of Chinese products, China and the United States will hold a meeting here to sort out quality issues.
Surging Re hits Bengal garment makers
Garment manufacturers of West Bengal, stung by the appreciating rupee, fear loss of jobs as profit margins have gone down significantly.
Realty stocks surge ahead of DLF’s first results after listing
Just a day ahead of real-estate developer DLF Ltd’s first quarterly results to be declared, reality stocks witnessed high action on bourses during the last hours of trading session on Wednesday.
EPF rates may be kept at 8.5%, says Oscar
Amid pressure from the Left-backed trade unions to not tinker with the current 8.5% interest rate on EPF, the government on Wednesday said it will try to retain the rate for the four crore EPF subscribers in the country.
Play it again, Sam!
Often called the theatre of the mind and the medium that touches your soul more than it touches your mind or your heart, radio in India has taken centrestage after a long and arduous wait.
A jab of botox over lunch?
In the latest quick-fix indulgence, a botox-only boutique has opened off ritzy Park Avenue where shoppers and harried professionals can walk in for a jab of botox to smooth away facial lines and be out within 30 minutes.
REL’s Q1 net up 25% to Rs 222 cr
Anil Ambani-controlled Reliance Energy Ltd’s net rose 25% to Rs 222 crore for the quafter ended June 30 against Rs 177 crore in the corresponding period last year.
Bond yields at 5½ month low, Re eases to 40.42/43
Bond yields eased to their lowest in nearly 5-½ months on Wednesday, as ample cash helped investors build positions and on expectations that the Reserve Bank of India would leave rates steady in its July review.
Fin soup poses threat for sharks
Sharks could face extinction within a generation from overfishing for their fins, a conservation group said on Wednesday, calling on the Chinese government to lead the way in their protection.
HDFC Bank boosts ADR sale to $698 m on demand
HDFC Bank Ltd, India’s third biggest by market value, increased its share sale to $698 million to fund accelerating demand for loans in an Asian economy that’s growing at its fastest pace in six decades.
IDBI first quarter net up marginally at Rs 153 cr
Industrial Development Bank of India, the nation’s seventh biggest by assets, said that fiscal first- quarter profit was little changed as it paid more for deposits and set aside more for potential bad debt.
BoE voted 6-3 for July UK rate hike
Three Bank of England policymakers opposed this month’s decision to raise interest rates but were outvoted by the other six members of the Monetary Policy Committee, minutes from the July 4-5 meeting showed.
Minimising transaction cost
If business is left alone, will transaction cost be reduced, leading to lower prices for the consumer? In today’s complex commercial world, such simplicity tends to naivety.
R-ADAG to venture out into movie distribution, music
The Reliance Anil Dhirubhai Ambani Group is foraying into the music and movie distribution business under the brand name Big Music and Home Entertainment.
The long and the short of it
Biologists have long been befuddled by the causes of ageing. The underlying principle is known as the disposable soma.
Defence ministry to release 42.5 Mhz soon
“Discussions are in the final stages. An alternate network for defence is being prepared, which will be completed in two months.
Tatas test drive Jaguar
In what would mark a major step-up in Tata Motors’ global ambitions, the Indian carmaker is understood to be evaluating making a bid for the Jaguar and Land Rover brands of embattled US car major Ford.
Luring those listings
Practically all reports on the Indian stock market have underscored the need to make it an attractive destination for foreign companies to raise money.
Aerospace vendors to bid for projects
Aerospace engineering vendors in India plan to form a consortium to bid for high-value projects that can be jointly executed in the country.
Deployment watch
While holding the government to its promises on the utilisation of public funds is the collective responsibility of a country’s citizenry
Organic farm output up, but no local demand
“There is great demand from exporters but in India people still do not prefer it because it comes expensive,” HR Jai Ram, who owns Era Organics, a certified retail outlet in Bangalore, said.
Judge pulled up for caning sentence error
A Singapore judge has been punished for mistakenly sentencing a prisoner to an extra three strokes of the cane, the Singapore government said.
Hindalco buys Alcan’s 45% in Utkal Alumina
Aditya Birla group flagship Hindalco Industries announced an agreement to buy out Canadian aluminium major Alcan’s 45% stake in Utkal Alumina International Ltd.
India, Asean seek to wrap up FTA talks by July-end
With tariff cut on edible oil being one of the main unresolved issues, India and Asean are entering into two crucial meetings, including one on Friday, hoping to wrap up their talks on the proposed FTA in goods by this month-end.
Ranbaxy net profit likely to soar 40%
Integration of Romanian pharma firm Terapia during January-March quarter this fiscal and higher growth in semi-regulated markets is expected to scale up Ranbaxy Laboratories Ltd’s net profit for the quarter ended June 30 by about 40% and overall sales by 11%.
There’s no comparison
There is no denying that the revenue-sharing model was a success in the telecom sector, as Pradip Baijal reminds us (‘Captive coal pits and falls’, July 18).
Centre plans steps to curb inflow of ECBs
The government is likely to restrict companies from converting external commercial borrowings into rupee assets. Further, it may allow companies to bring home ECB proceeds only in phases.
Ford says global loss won’t affect India operations
Ford India Pvt Ltd, backed by the strength of its best-selling model, the Fiesta, sold around 42,000 cars in 2006, which is an 87% rise over the 22,500 units sold the year before.
Deora for oil bonds to offset global impact
Oil PSUs—Indian Oil, Hindustan Petroleum and Bharat Petroleum—are losing close to Rs 180 crore every day on sale of petrol, diesel, domestic cooking gas and PDS kerosene as the government has barred them from raising retail prices in line with rise in the cost of international crude oil.
President of India sits on Rs 7,00,000-crore fortune
Everything about the Rashtrapati Bhavan has been pretty much the same since it was built in 1931, but the presidential building’s new occupant next week will find that the office is the custodian of fortune worth over Rs 7,00,000 crore in terms of share prices alone.
BSNL tender cleared at $80
Bharat Sanchar Nigam Ltd has finally decided to award the contract for 22.5 million GSM lines to Ericsson and Nokia, the lowest and second-lowest bidders, respectively.
PM bats for more teeth to public enterprises
Prime Minister Manmohan Singh hinted at providing more autonomy to public sector companies and easing the bureaucratic and political hold over them.
Have Net, Will Travel
First the good news. Over 15 million Internet users now surf the Net for travel products; out of which, nearly nine million also buy these products online.
Seven bidders queue up for DSE stakes
Elaborating on the revival plan, Sahny said FTIL, a software solution provider to leading commodity exchanges like MCX and Dubai Gold and Commodity Exchange, has agreed to provide innovative instruments to make the platform attractive for brokers and investors.
Indian airline cos woo students with sops on int’l routes
Indian carriers like Air India and Jet Airways are vying with each other for a share of student traffic to various destinations in the US, Europe and UK sectors.
Know your subject
One promising area for vertical sites is health-related search, which provides a microcosm of the threats and opportunities facing specialists.
Orissa’s transport revenue target unrealistic: panel
The state finance department’s move to collect more revenue has left the mandarins in the transport department high and dry. Last year, the transport department had failed to achieve the target.
Social dialogue key to labour reforms: ILO
The International Labour Organisation has advised trade unions in India to change according to the times.
Rlys, steel firms in freight capacity battle
Responding to a presentation made by SK Lahiri, CII Jharkhand Chapter’s infrastructure core committee member here on Tuesday, SER general manager Vijay K Raina described the situation as the crux of the problem.
Rubber production falls as mosquitoes go on rampage
It is a sting that punctured the tyremens’ shopping bag. And quashed the rubber farmers’ wallet too, at the same time.
Copper replaces gold as top grosser at MCX
Copper has challenged the dominance of gold on the futures trading platform at MCX during the second quarter of 2007 and replaced gold to top the turnover during the second quarter of 2007.
Single caller tune likely for farmers
The agriculture ministry is planning to integrate all regional units of the kissan call centre—a helpline for farmers—into one single unit.
Tur prices on rise again
Tur prices rose by more than 5% in two weeks and the upward momentum is expected to continue as increased demand depleted stocks, traders said on Wednesday.
Unorganised sector Bill to be tabled in monsoon session
Under pressure from the Left parties, the government in Wednesday said the much-awaited Unorganised Sector Workers Social Security Bill, 2007 is likely to be introduced in the forthcoming session of Parliament.
Delhi HC asks Incab bidders to submit view in 2 weeks
The Delhi High Court on Wednesday asked four Incab Industry bidders, the company’s secured creditors as well as its trade unions, to submit in writing to the court in two weeks’ time their views on its revival.
Turkey bags gas trader tag with Iran deal
Turkey's latest plans to carry Turkmen and Iranian gas via Iran and on to Europe will support the Nabucco project and strengthen Ankara's hand in trying to turn Turkey into a gas trading hub for the region.
Revolution through redefinition
The Centre thinks so, as it believes the share of the urban population is higher than the 2001 Census estimate of 27.78% and plans to reclassify urban areas.
Biocon to sell enzymes biz to Novozymes
Bangalore, Jul 18To boost its focus on the core, bio-pharmaceuticals business, Biocon Ltd will divest its enzymes business vertical to bio-innovation company Novozymes A/S, for $115 million.
Another pounding
When the man approaching you is wearing boxing gloves, it makes sense to duck. The crisis in the American subprime-mortgage market was clearly visible months ago.
‘Cell services to cross $25 bn by 2011’
According to Gartner, India will continue to be the fastest growing country in Asia Pacific region in terms of mobile telephony after China and promises to become more dynamic with the entry of Vodafone.
'Indian mobile services mkt to exceed $25 bn'
Cellular services segment in India; the world's fastest growing wireless market, is expected to touch 25 bn dollar by 2011, global consultancy and research firm Gartner said.
Tata to bid for Ford's Jaguar and Land Rover
Tata Motors, India's biggest automobile Co, is understood to be in early stages of evaluating a bid for acquiring the Jaguar and Land Rover marques from Ford, reports said.
IDBI Q1 net up at Rs 153 cr
IDBI on Wednesday posted a net profit of Rs 153.12 crore for the quarter ended June 30 where as it was Rs 150.57 crore in the same period last year.
Chinese economy growing beyond potential
China's economy is growing at maximum capacity and risks overheating if Beijing fails to adopt measures to cool it down, a government economist said.
Imperial to buy Altadis in $22 bn deal
Britain's Imperial Tobacco agreed to buy Franco-Spanish rival Altadis in a 16.2 billion euros deal to strengthen its position as the world's fourth largest cigarette group.
Airtel, Ericsson ink $2 bn deal
India's top mobile services firm, Bharti Airtel ,on Wednesday awarded a $2 billion contract to Sweden's Ericsson for network expansion, a joint statement said.
India holds out helping hand to Mittal's oil foray
India-born billionaire Lakshmi N Mittal is literally getting a helping hand from the government for his ambitious diversification from steel making to oil refining.
Pakistan share index falls as violence escalates
Pakistan's main index fell more than 3 per cent on Wednesday due to escalating violence, following a suicide bomb attack in Islamabad.
Motorola to re-bid in revised BSNL tender
In the thick of a controversy over its disqualification from the 45.5 mn GSM line tender by BSNL, Motorola said it will once again join the race if fresh bids were called.
Yahoo's profit falls for 6th straight quarter
This was the sixth consecutive quarter in which Yahoo's profit has dropped from the previous year. Despite a lot of re-shuffling the Internet icon has failed to pull out of its slump.
Grant full operational autonomy to PSUs: PM
Concerned over time spent by heads of PSUs in 'boundary management', PM Manmohan Singh asked govt to become more transparent & grant full operational autonomy to state Cos.
DLF bags Rs 6,000cr DDA contract
Real estate developer DLF Ltd on Wednesday said it has secured a Rs 6,000 crore contract from DDA for constructing an international convention centre in Dwarka.
Honda to build $205 mn car plant in Thailand
Honda Motor Co will spend 6.2 billion baht (USD 205 million) to build a second car plant in Thailand, Chief Executive Takeo Fukui told a mid-year news conference on Wednesday.
Tata Tea vies with Coke for beverage buys
Tata Tea Ltd is looking to acquire more beverage brands to tap growing consumer demand for health drinks, taking on the world's biggest drinks companies.
Videocon, L&T to build power plant - Report
Videocon Industries Ltd and Larsen & Toubro Ltd are in talks to float a new power company, a news daily said on Wednesday.
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