Posted by Yogesh on Tuesday, 27 May, 2008
May 27 (Bloomberg) — India, the world’s second-biggest user of wheat, eased curbs on transportation of the grain domestically by private traders after purchases by the government from farmers reached a record.
Traders can use the nation’s railroad network to move the grain, a government official, who didn’t want to be identified, told reporters in New Delhi today.
The government last month banned non-state suppliers from using railways to transport wheat to discourage them from buying from farmers. The ban enabled the government to secure 21 million tons of the grain, the most since the nation gained independence in 1947, according to Finance Minister Palaniappan Chidambaram. Read the rest of this entry »
Posted in Indian Economy | Tagged: wheat | Leave a Comment »
Posted by Yogesh on Tuesday, 27 May, 2008
LONDON (MarketWatch) — Say this for Arun Sarin: In the end, he dictated when he would be leaving Vodafone Group, not the unruly British fund managers who had been trying to chase him out the door two years ago.
By hanging on, Sarin leaves with a reasonable resume, the crowning achievement of which is Vodafone’s $13 billion acquisition of most of India’s Hutchison Essar in 2007, a complex deal that at the time looked pricey but already looks shrewd given the growth in that market. Read the rest of this entry »
Posted in Corporate News | Tagged: AT&T, Verizon, Vodafone | Leave a Comment »
Posted by Yogesh on Tuesday, 27 May, 2008
CHENNAI, India, May 27, 2008 (BUSINESS WIRE) —-Sify Technologies Limited (NASDAQ:SIFY), a leader in Consumer, Internet and Enterprise Services in India with global delivery capabilities, announced today the launch of its Roam Connect International service in India.
The Roam Connect International service, powered by leading enterprise mobility provider iPass (NASDAQ:IPAS), will enable Sify customers to access a global high-speed, reliable and secure wireless Broadband service when on the move. With Roam Connect International, customers will now be able to access their data from more than 100,000 broadband locations globally, including key business-centric venues such as airports, hotels, conference centers and retail venues. Read the rest of this entry »
Posted in Corporate News | Tagged: iPass, sify | Leave a Comment »
Posted by Yogesh on Tuesday, 27 May, 2008
NEW DELHI, May 27 (Reuters) – India’s Tata Communications Ltd (TATA.BO: Quote, Profile, Research) (TCL.N: Quote, Profile, Research) and Emirates Telecommunications Corp ETEL.AD said they had signed a deal to provide network services in the UAE, a move that would boost Tata’s expansion overseas.
The two companies said in a statement on Tuesday they would provide ethernet, a popular protocol used for controlling data transmission over a local area network, and other connectivity, but did not disclose financial details. Read the rest of this entry »
Posted in Corporate News | Tagged: Etisalat, Tata | Leave a Comment »
Posted by Yogesh on Tuesday, 27 May, 2008
MUMBAI (Reuters) – South Africa’s MTN Group (MTNJ.J: Quote, Profile, Research) and India’s Reliance Communications (RLCM.BO: Quote, Profile, Research) may swap shares or take big stakes in a new company as regulatory hurdles and both firms’ global ambitions seem to rule out a $66 billion emerging markets telecoms merger.
The companies said on Monday they were discussing a possible combination, just days after India’s top mobile firm Bharti Airtel (BRTI.BO: Quote, Profile, Research) ended talks with MTN after failing to agree how to structure a deal. Read the rest of this entry »
Posted in Corporate News | Tagged: MTN, Reliance Communication | 2 Comments »
Posted by Yogesh on Tuesday, 27 May, 2008
MUMBAI, May 27 (Reuters) – A unit of Indian financial services company Reliance Capital Ltd (RLCP.BO: Quote, Profile, Research) has invested an undisclosed sum in U.S.-based Pelago Inc, which runs social networking portal Whrrl.
Reliance Technology Ventures Ltd, a wholly owned subsidiary of Reliance Capital, said in a statement it had earlier made similar investment in Yatra.com, India’s largest online travel portal. Read the rest of this entry »
Posted in Corporate News | Tagged: Pelago, Reliance Capital, Whrrl, yatra | Leave a Comment »
Posted by Yogesh on Tuesday, 27 May, 2008
NEW DELHI, May 27 (Reuters) – India has allowed the export of cement from ports in western Gujarat state, Trade Secretary Gopal Pillai said on Tuesday.
India had in April banned cement exports in a bid to contain inflation that is at 3-½ year highs. Source Reuters
Posted in Indian Economy | Tagged: cement, export | Leave a Comment »
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