Times of IndiaPosted by Yogesh on Friday, 16 May, 2008
MUMBAI, May 15 (Reuters) – Citigroup has no plans to exit its consumer finance business in India, where defaults have risen, the head of its Indian unit said on Thursday.
“We are only repositioning and resegmenting the products. Consumer finance is important for India,” Sanjay Nayar, chief executive at Citi India, said on the sidelines of a news conference.
Posted in Corporate News | Tagged: Citi, IDFC | Leave a Comment »
Posted by Yogesh on Friday, 16 May, 2008
NEW DELHI, May 16 (Reuters) – India’s finance minister on Friday approved a proposal from Sweden’s Volvo to acquire 8.1 percent of India’s Eicher Motors Ltd.
The world’s No.2 truck maker said in December it would take a stake in India’s third-biggest truck maker and form an equal joint venture in the world’s fifth-largest market for trucks.
The proposal will now be referred to a cabinet panel on economic affairs, as it is above a 6 billion rupee ($140 million) threshold, a government statement said. — according to Reuters
Posted in Corporate News | Tagged: Eicher Motors, Volvo | Leave a Comment »
Posted by Yogesh on Friday, 16 May, 2008
When Biju Mathew moved to the United States in 2000 to work as a software engineer in a Silicon Valley start-up, he hit an unexpected roadblock in his personal life: finding tutors for his school-age children. His kids had been used to tutoring in India and wanted to continue with it in their new environment. Mathew, however, found tutoring in the United States, both traditional and online, very expensive. At anywhere between $40 and $100 per hour, the kind of daily tutoring that his children were used to was unaffordable.
Posted in Emerging Sector | Tagged: Online School | Leave a Comment »
Posted by Yogesh on Friday, 16 May, 2008
LONDON – There’s a downside to India’s booming economy: supply constraints have sent wholesale inflation to its highest level since November 2004.
Wholesale prices in the world’s third-largest economy rose 7.83%, in the week ending May 3, from a year earlier. That’s also up from a 7.61%, rise the month before, according to data published by India’s Ministry of Commerce and Industry on Friday.
Posted in Indian Economy | Tagged: Inflation | Leave a Comment »
Posted by Yogesh on Friday, 16 May, 2008
DUBLIN, Ireland, May 15, 2008 (BUSINESS WIRE) — Research and Markets has announced the addition of “India’s Biofuel Industry” to their offering.
India is the sixth largest and one of the fastest growing energy consumers in the world, with a rapidly growing economy, rising population and an expanding number of middle-class consumers. Due to limited domestic crude oil reserves, India Read the rest of this entry »
Posted in Emerging Sector | Tagged: biofuel | Leave a Comment »
Posted by Yogesh on Friday, 16 May, 2008
MUMBAI (Thomson Financial) – Indian information technology company, Tech Mahindra Ltd., has won a contract worth $700 million from BT Group to transform and improve BT’s information technology infrastructure, the Economic Times reported quoting unnamed sources.
CP Gurnani, Tech Mahindra’s president for international operations said in the report, the news is “speculative”. “At any Read the rest of this entry »
Posted in Corporate News | Tagged: Contract, Tech Mahindra | Leave a Comment »
Posted by Yogesh on Friday, 16 May, 2008
Engineering and construction company Larsen & Toubro Ltd. (L&T) and U.S.-based GE Energy said they have entered into a strategic partnership agreement to focus on the India’s power generation market.
Under the agreement, GE Energy will provide its power plant main control system products to L&T, while L&T will leverage its strengths in engineering and project execution as well as experience in the Indian market to deliver comprehensive power plant automation solutions to customers, the companies said in a release. — according to CNBC.com
Posted in Corporate News | Tagged: Larsen and Turbo | Leave a Comment »
Posted by Yogesh on Friday, 16 May, 2008
India’s largest gas transmission and marketing company Gail India Ltd. said its consortium with Australia’s Arrow Energy has spudded its first core well in the Tata Pani Ramkola coal bed methane block (CBM) in the eastern Indian state of Chhattisgarh.
The company said in a regulatory filing with the Bombay Stock Exchange that the first well is planned to be complete within 15 to 20 days and drilling activities in the block will continue until the completion of all the eight core wells.
Posted in Corporate News | Tagged: Chhattisgarh, Gail | Leave a Comment »
Posted by Yogesh on Friday, 16 May, 2008
MUMBAI (Thomson Financial) – The World Bank said its concessionary lending arm, the International Development Association, will provide $600 million credit to support the Indian government’s ongoing Sarva Shiksha Abhiyan (SSA), an education program designed to provide all children aged 6 to 14 with education of satisfactory quality. The Second Elementary Education Project (SSA II) is the second phase of support by the development partners to the SSA program. It focuses on moving towards the achievement of quality goals and improved learning outcomes, the lending agency said.
Posted in Indian Economy, Sector Spotlight | Tagged: World Bank | Leave a Comment »
Posted by Yogesh on Friday, 16 May, 2008
May 16 (Bloomberg) — BASF India Ltd., the local unit of the world’s largest chemical company, rose as much as 3.2 percent after the German company offered to increase its stake by 22.3 percent.
BASF SE, based in Ludwigshafen, Germany, offered to buy about 6.3 million shares of its Indian unit at 274 rupees a share, it said in a statement to the Bombay Stock Exchange yesterday. — according to Bloomberg.com
Posted in Corporate News | Tagged: BASF India | Leave a Comment »
RSS 
Email 