RSSMix.com Mix ID 91169

Finmin, RBI meet March 29 on borrowing - source

Wed, 17 Mar 2010 03:30:40 -0400

NEW DELHI (Reuters) - Officials from the finance ministry and the Reserve Bank will meet on March 29 to finalise the borrowing programme for the first half of 2010/11, a finance ministry source said on Wednesday.

Rupee at 2-month high on share gains; weak dlr

Wed, 17 Mar 2010 03:30:28 -0400

MUMBAI (Reuters) - The rupee strengthened past 45.3450 per dollar on Wednesday to its highest level in more than two months, tracking weakness in the dollar versus major units and gains in the local sharemarket.

Battle lines drawn, Birla to fight Wadia on Worli land makeover

Wed, 17 Mar 2010 03:10:24 -0400

Mumbai/Kolkata: B K Birlas company had decided to spend Rs 625 crore on the first phase of Century Mills redevelopment plan in Mumbai.

Euro zone Greek aid as clear as mud

Wed, 17 Mar 2010 02:24:34 -0400

PARIS (Reuters) - Euro zone countries say they have agreed on how to help Greece if it needs assistance to cope with its massive debt mountain, but the opaque and tentative arrangement is full of unanswered questions.

Qualcomm: applies to bid for India broadband spectrum

Wed, 17 Mar 2010 02:20:50 -0400

NEW DELHI (Reuters) - Qualcomm Inc said on Wednesday it had applied to bid for radio waves in India's upcoming Broadband Wireless Access (BWA) auction, starting next month.

Steel Strips expects wheel rims order from Renault

Wed, 17 Mar 2010 02:10:26 -0400

MUMBAI (Reuters) - Steel Strips Wheels Ltd said on Wednesday it expects to supply 300,000 steel wheel rims to France's Renault in five years.

Qualcomm: applies to bid for India broadband spectrum

Wed, 17 Mar 2010 01:59:13 -0400

NEW DELHI (Reuters) - Qualcomm Inc said on Wednesday it had applied to bid for radio waves in India's upcoming Broadband Wireless Access (BWA) auction, starting next month.

Bernanke to defend Fed role on smaller bank supervision - WSJ

Wed, 17 Mar 2010 01:56:03 -0400

REUTERS - Federal Reserve Chairman Ben Bernanke will defend the central bank's supervision of smaller banks in a hearing before the House Financial Services Committee on Wednesday, the Wall Street Journal said.

World Bank tells China to tighten policy

Wed, 17 Mar 2010 01:51:44 -0400

BEIJING (Reuters) - The World Bank raised its 2010 growth and inflation forecasts for China and recommended a tighter monetary policy as well as a stronger exchange rate to restrain inflation expectations and asset bubbles.

No proposal from SBI for rights, FPO - finmin exec

Wed, 17 Mar 2010 01:41:00 -0400

NEW DELHI (Reuters) - Top lender State Bank of India has not sought the government's nod for a rights issue or a follow-on share issue, a senior finance ministry official said on Wednesday.

BSE Sensex near 2-mth high; Reliance, banks rise

Wed, 17 Mar 2010 01:40:50 -0400

MUMBAI (Reuters) - The BSE Sensex rose more than 1 percent to near two-month highs on Wednesday morning, led by gains in energy major Reliance Industries and financials, with world equities rising after the United States kept monetary policy unchanged.

L&T gets 10.13 billion rupees order from ONGC

Wed, 17 Mar 2010 01:40:28 -0400

MUMBAI (Reuters) - India's top engineering and construction firm, Larsen & Toubro, said on Wednesday it had won an order worth 10.13 billion rupees ($223 million) from state-run explorer Oil and Natural Gas Corp.

BSE Sensex extends gains to more than 1 pct

Wed, 17 Mar 2010 01:30:38 -0400

MUMBAI (Reuters) - The BSE Sensex extended gains to more than 1 percent on Wednesday morning, joining the rally in world equities.

No proposal from SBI for rights, FPO - finmin exec

Wed, 17 Mar 2010 01:27:23 -0400

NEW DELHI (Reuters) - Top lender State Bank of India has not sought the government's nod for a rights issue or a follow-on share issue, a senior finance ministry official said on Wednesday.

BSE Sensex near 2-mth high; Reliance, banks rise

Wed, 17 Mar 2010 01:26:31 -0400

HDFC opens $110 mln bonds - sources

Wed, 17 Mar 2010 01:10:48 -0400

MUMBAI (Reuters) - Mortgage lender Housing Development Finance Corp on Wednesday opened a 5-billion-rupee ($110 million) bond issue, two sources familiar with the transaction said.

WHO, UNICEF suspend use of Shantha Bio's vaccine - report

Wed, 17 Mar 2010 01:10:38 -0400

MUMBAI (Reuters) - The World Health Organisation (WHO) and the UNICEF have suspended the use and purchase of Shan5 vaccine from Sanofi Aventis owned Shantha Biotechnics pending a quality investigation, a newspaper report said.

Rupee up tracking dlr weakness; shares rise

Wed, 17 Mar 2010 00:50:26 -0400

MUMBAI (Reuters) - The rupee strengthened on Wednesday tracking the dollar's fall against major currencies overseas and buoyed by gains in the domestic sharemarket, which may bring in some more foreign fund inflows.

Nissan may join Renault-Daimler tie-up talks - Nikkei

Wed, 17 Mar 2010 02:03:17 -0400

TOKYO (Reuters) - Japan's Nissan Motor may join talks between Renault and Daimler, the Nikkei business daily reported on Wednesday.

MSK Projects' 14.76 pct equity change hands in BSE

Wed, 17 Mar 2010 00:40:48 -0400

MUMBAI (Reuters) - About 3.37 million shares or 14.76 percent of equity in MSK Projects changed hands in three block deals at a weighted average price of 129.75 rupees a share, BSE data showed on Wednesday.

JP Associates sees FY11 cement business up 40 pct - TV

Wed, 17 Mar 2010 00:40:38 -0400

MUMBAI (Reuters) - Jaiprakash Associates expects its cement business to grow by about 40 percent in 2010/11, Executive Chairman Manoj Gaur told news channel CNBC-TV18 on Wednesday.

Rupee strengthens on dollar fall, share gains

Wed, 17 Mar 2010 00:10:39 -0400

MUMBAI (Reuters) - The rupee rose on Wednesday boosted by a fall in the dollar versus major currencies post the Federal Reserve meet and a higher start to the local sharemarket, which may prompt foreign fund inflows.

BSE Sensex tops 17,500, first time since Jan 20

Wed, 17 Mar 2010 00:10:28 -0400

MUMBAI (Reuters) - The BSE Sensex rose 0.7 percent early on Wednesday, climbing above 17,500 points for the first time since Jan. 20, mirroring the rally in world equities.

Rupee seen higher on Asian shares; dollar

Tue, 16 Mar 2010 23:20:39 -0400

MUMBAI (Reuters) - The rupee should gain on Wednesday on the back of the dollar's decline versus major currencies overseas and tracking gains in regional sharemarkets.

BSE Sensex seen higher; Reliance in focus

Tue, 16 Mar 2010 23:20:27 -0400

MUMBAI (Reuters) - The BSE Sensex is set to start higher on Wednesday, after world stocks rallied as U.S. Federal Reserve held benchmark rates near zero and maintained its pledge to keep them low for an extended period.

Auctioneer plans $15 million emerging nations sale

Tue, 16 Mar 2010 23:10:38 -0400

LONDON (Reuters Life!) - Around 450 works of art from emerging powers Brazil, Russia, India and China will be offered for sale in London next month and auctioneer Phillips de Pury expects them to raise around $15 million.

Reliance in running for Marcellus JV - source

Tue, 16 Mar 2010 22:44:46 -0400

MUMBAI (Reuters) - Energy major Reliance Industries is seeking a joint venture with Atlas Energy to develop the U.S. firm's Marcellus Shale gas operations, a source with direct knowledge of the matter said.

Google partners call for clarity on China plans

Wed, 17 Mar 2010 00:49:22 -0400

BEIJING (Reuters) - Chinese firms selling advertising space on Google's search pages have demanded clarity about the Internet company's plans in China, warning they will demand compensation if it shuts its Chinese portal.

INTERVIEW - Lehman takes middle road on plan for creditors

Tue, 16 Mar 2010 20:08:28 -0400

NEW YORK (Reuters) - Lehman Brothers Holdings Inc, which filed for bankruptcy in September 2008, wants to take a "middle of the road" approach to repaying creditors, hoping for a consensual outcome that avoids litigation.

PwC bullish on Kolkata

Tue, 16 Mar 2010 18:07:29 -0400

India s largest audit firm PricewaterhouseCoopers (PwC) is growing its business in the country with Kolkata at the heart of it. As PwC in India becomes more tuned to our global operations, said PwC chairman Gautam Banerjee, who was anointed head of the firm in December to help the firm tide over the Satyam crisis, the Kolkata practice will expand. Our experience has been good. Kolkata is very competitive, it has a good talent pool and the cost arbitrage is quite compelling compared to other places like Bangalore, Banerjee said. PwC which has close to 2,000 people here wants to add ...

Rio Tinto, Orissa to revive $1-bn JV

Tue, 16 Mar 2010 18:07:19 -0400

Global mining major Rio Tinto has decided to aggressively push its $1-billion iron ore project in Orissa. The company made its intentions clear in its annual report released on Tuesday. In turn, the Orissa government, buffeted by a series of aborted mining projects in the state, promptly announced it has almost firmed up the draft for the agreement with the Anglo-Australian mining company. For Rio Tinto this will be its first significant foray into the mining sector in India. Its plans are based on an assessment of how China and then India will dominate the global commodity market. Chief executive ...

Lehman plans to end bankruptcy, create new company

Tue, 16 Mar 2010 06:01:49 -0400

New York: Lehman Brothers Holdings Inc on Monday filed a plan with the U.S. bankruptcy court in Manhattan to wind down its remaining assets and operations -- and end the largest U.S. bankruptcy case in history.

BSE Sensex edges higher; Reliance, L&T lead

Tue, 16 Mar 2010 06:00:30 -0400

Mumbai: The BSE Sensex was trading 0.1 percent higher on Tuesday, supported by a small rise in its Asian peers, with Reliance Industries and Larsen & Toubro leading the charge.

Economy has turned around, says Pranab

Fri, 12 Mar 2010 16:37:17 -0500

The Finance Minister said the Budget proposals raising excise duty by two per cent will have some impact on inflation as it is not detachable from the overall economy.

Sensex at 7-week high level; ends 1.34 pts down

Fri, 12 Mar 2010 16:20:53 -0500

Mumbai: Stock markets turned edgy on Friday with the benchmark Sensex closing with a marginal 1.34-point drop after a volatile session, as an impressive industrial growth coupled with high inflation rate fuelled fear of imminent hike in lending rates.

Gold loses for 8 days in row in Delhi, longest fall in 4 years

Fri, 12 Mar 2010 15:10:47 -0500

New Delhi: Gold prices lost Rs 10 at Rs 16,780 per ten grams to extend the fall for the eighth day in a row -- the longest losing streak in four years in the Delhi bullion market.

Industrial production grows 16.7 percent in January

Fri, 12 Mar 2010 13:08:21 -0500

New Delhi: India's industrial production rose 16.7 percent in January from 1 percent a year earlier, buoyed by continued growth of the manufacturing sector and a low base effect, official data showed Friday.

Be humane to taxpayers, says Pranab

Fri, 12 Mar 2010 11:57:04 -0500

New Delhi: Finance Minister Pranab Mukherjee has asked taxmen to be "humane" when dealing with taxpayers, as he felt that being considerate and treating people with respect helps in improving tax collections.

HSBC says Swiss data theft impacts 24,000 accounts

Thu, 11 Mar 2010 15:45:45 -0500

London: HSBC, Europe's biggest bank, said a theft of data by a former employee affected up to 24,000 Swiss client accounts, dealing a hefty blow to the reputation of its private bank.

Mukesh Ambani, Lakshmi Mittal among world's top ten billionaires

Thu, 11 Mar 2010 04:22:43 -0500

Washington: Indians Mukesh Ambani and Lakshmi Mittal figured among world's top ten billionaires as Mexican tycoon Carlo Slim Helu beat Americans Bill Gates and Warren Buffett to become the wealthiest person on earth.

Wipro case: Better corporate governance needed, say experts

Thu, 11 Mar 2010 03:53:00 -0500

Bangalore/Mumbai: The recent case of embezzlement by a Wipro insider, believe industry experts and analysts, would have little impact on the companys business or image. However, they simultaneously caution that the issue yet again highlights the need for better measures on corporate governance and fraud.

Indian investors can now access US market

Wed, 10 Mar 2010 17:06:03 -0500

New Delhi: In a major development that will allow Indian investors access to the American market, the country's top bourse NSE has decided to begin trading in futures contracts of Dow Jones Industrial Average (DJIA) and S&P 500 -- the two key indices of the US market.

IIM-B final placements closed in just five days straight

Wed, 10 Mar 2010 10:44:39 -0500

Bangalore: Providing a strong indication of a positive sentiment for the economy, the final placements season at the Indian Institute of Management Bangalore (IIM-B) was closed in just five days half the time the institute took to place students last year. The highlight of the process was that 90 students accepted offers in slot zero (generally the first day) a 41 per cent increase over the previous year.

Mamata blames communication gap for abstaining from voting on Women's Bill

Wed, 10 Mar 2010 10:40:38 -0500

New Delhi: Trinamool Congress chief and Railway Minister Mamata Banerjee today attributed her party's abstention from voting on the Women's Reservation Bill in Rajya Sabha to a "communication gap" and said she was committed to the Constitutional amendment.

Women's Bill: Mulayam, Lalu not mulling no-trust motion

Wed, 10 Mar 2010 10:38:58 -0500

New Delhi: Mulayam Singh Yadav and Lalu Prasad, the two strong opponents of the women's bill, said they were 'as of now' not considering the issue of bringing a no-confidence motion in Lok Sabha, saying they did not have the numbers for it.

Upside of downturn: employee loyalty on the rise

Wed, 10 Mar 2010 10:28:24 -0500

New Delhi: More than a third of employees surveyed have become more loyal to their companies after the economic downturn as the difficult conditions helped in strengthening bonds between workers and bosses, global workforce solutions provider Kelly Services said.

CEO bonuses fell 22 pct in 2009: Report

Wed, 10 Mar 2010 06:39:42 -0500

New York: US consumer, financial and technology companies slashed bonuses for their chief executives by more than half in 2009, a leading firm that tracks pay data said on Tuesday, as companies moved to more closely tie executive pay to performance.

Rupee falls by 12 paise against dollar in early trade

Wed, 10 Mar 2010 05:12:40 -0500

Mumbai: The Indian rupee depreciated by 12 paise against the US dollar in early trade today, following the American currency's gains overseas.

Sensex rises 44 points in opening trade on firm Asian mkts

Wed, 10 Mar 2010 05:11:36 -0500

Mumbai: The Bombay Stock Exchange benchmark Sensex recovered by nearly 44 points in the opening trade today on fresh capital inflows from foreign funds amid firming Asian markets.

Bosch declares lock-out at Bangalore plant

Wed, 10 Mar 2010 04:21:12 -0500

Bangalore: Bosch Ltd, an automobile component maker, has declared lock-out at its Naganathapura Plant near here with effect from last night, after talks with workers over wage revision failed.