Tuesday, March 11, 2008

Business News 10th March 2008

Metal bets rock L&T's Dubai arm
Economic Times - 2 hours ago
MUMBAI: Corporate India is discovering the pitfalls of international financial markets. A week after local highstreet banks announced hits from turbulent money markets in the US and Europe, Larsen & Toubro, the country's largest engineering firm, ...

 

NELP VII bid date postponed to April 25
Hindu - 2 hours ago
NEW DELH: The Union Petroleum and Natural Gas Ministry, following the revision of schedule for promotional road shows in Singapore and Australia, on Monday postponed the last date for bids for the 57 oil and gas blocks on offer under the seventh round ...

 

Free inter-bank ATM access from April 2009
Hindu - 2 hours ago
MUMBAI: The Reserve Bank of India (RBI) on Monday asked banks to provide the services of Automated Teller Machines (ATMs) free of cost for use of own ATMs for any purpose and for use of other bank ATMs for balance enquiries with immediate effect.

 

TVS launches 'Flame' with modified engine
Hindu - 2 hours ago
NEW
AVATAR: Venu Srinivasan, Chairman, TVS Motor Company, at the launch of new `Flame' bike in Chennai on Monday. CHENNAI: TVS Motor Company on Monday launched its 125cc motorcycle - TVS Flame.

 

Debt waiver to relieve 3 crore farmers: FM
Moneycontrol.com - 10 hours ago
The Finance Minister, P Chidambaram says that he will answer all questions regarding the much talked about debt waiver for farmers in Parliament on Friday.

 

Stop-work threat to airports again
Calcutta Telegraph - 1 hour ago
New Delhi, March 10: Airport Authority of India employees have threatened to "stop or delay work" from March 12 unless plans to shut down the old Hyderabad and Bangalore airports are deferred by three months.

 

Salaries jump 60% at IIM-K; marketing, IT hot at IIM-A
Economic Times - 4 hours ago
A
HMEDABAD/MUMBAI: Students at the Indian Institute of Management Ahmedabad were busy until the last day of final campus placements chasing down their 'dream companies' from marketing and IT while officials remained busy collating data to be released ...

 

Rel Energy to be renamed Reliance Infrastructure
Economic Times - 4 hours ago
MUMBAI: Reliance Energy (REL), formerly BSES, is once again changing its name to Reliance Infrastructure. The new name, according to the company, will capture the current nature of various business segments it is involved in.

 

Car sales up 2% in February, two-wheeler sales slide
Economic Times - 3 hours ago
NEW DELHI: The automobile industry saw little cheer in February as the two-wheeler industry continued to de-grow and passenger car sales went flat with barely 2% growth.

 

Mastek buys US-based Systems Task for Rs 116 cr
Hindu Business Line - 4 hours ago
Mumbai, March 10 IT solutions vendor Mastek Ltd has acquired Systems Task Group (STG) International - a provider of enterprise solutions for the property and casualty (P&C) insurance industry - in an all-cash consideration of $29 million (Rs 116 crore) ...

 

Gitanjali Gems forays into loans, to boost lifestyle retail
Business Standard - 5 hours ago
Leading jewellery maker Gitanjali Gems has forayed into the business of providing gold loans and safe deposits vaults. The company has also acquired Trinity Watch Co and Renaissance Retail Ventures for undisclosed sums.

 

Market stages comeback amid high volatility
Business Standard - 3 hours ago
In a day of high volatility, the domestic stock market staged a sharp comeback after a steep 3 per cent fall in key benchmark stock prices in the first half of trading.

 

Ceat sells Mumbai land for Rs 130cr
Calcutta Telegraph - 1 hour ago
Mumbai, March 10: Ceat Ltd, the flagship company of the RPG group, today sold seven acres of land at Bhandup in Mumbai for Rs 130 crore.

 

CAG pulls up BSNL for making idle investment of Rs 794 cr
Economic Times - 5 hours ago
10 Mar, 2008, 2226 hrs IST, PTI NEW DELHI: The Comptroller and Auditor General on Monday rapped state-owned telecom giant BSNL for excess procurement of cables and equipment for landline telephony despite falling subscriber base that led to a loss of ...

 

Sensex ends down 52pts; Bharti zooms 9%
Business Standard - 11 hours ago
The Sensex opened with a significant negative gap of 292 points at 15684 on the back weak cues from the global markets. Follow-up selling, thereafter, saw the index slide to a low of 15362 - down 614 points from the previous close.

 

Cognizant bags plum deal
Calcutta Telegraph - 1 hour ago
Calcutta, March 10: Cognizant has bagged a five-year contract worth $95 million for data management from pharmaceutical firm AstraZeneca.

 

Free-price drugs to become cheaper
Economic Times - 3 hours ago
NEW DELHI: In a first-of-its-kind move, the drug price regulator on Monday asked pharmaceutical companies to pass on the benefits of the recent excise duty cut to consumers, even on medicines that are outside the government's price control.

 

Thomas Cook makes open offer for 20 pc stake
Hindu - 14 hours ago
Mumbai (PTI): UK-based Thomas Cook Group Plc has made an open offer to the shareholders of Thomas Cook (India) for acquiring 20 per cent stake in the domestic travel firm for about Rs 351 crore.

 

GSM operators ready for 'Virgin' blitzkrieg
Hindu Business Line - 4 hours ago
New Delhi, March 10 The fight for the youth segment in the fastest growing mobile market is heating up, following an aggressive launch of services by Tata-Virgin combine.

 

Fidelity announces dividends in two schemes
Hindu - 11 hours ago
Mumbai (PTI): Fidelity Fund Management on Mondayannounced dividends in its two schemes - the Fidelity Equity Fund and the Fidelity Tax Advantage Fund.


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