Archive for August 1st, 2008
Posted by Yogesh on Friday, 1 August, 2008
DETROIT: Chrysler is in talks to lease US production capacity and share retail distribution with Fiat SpA (FIA.MI), allowing the Italian automaker to return to the US market for the first time in 25 years, people briefed on the talks said on Wednesday.
Chrysler, the No. 3 US automaker, has also been in discussions with India’s Tata Motors Ltd about selling its Jeep Wrangler SUV in India and possibly other Asian markets, said the sources, who were not authorized to discuss the negotiations. Read the rest of this entry »
Posted in Corporate News | Tagged: Chrysler, Tata Motors | Leave a Comment »
Posted by Yogesh on Friday, 1 August, 2008
NEW YORK: India is the second best country for business investment, a new survey of American corporate executives shows.
Conducted by Development Counsellors International every three years, the “Winning Strategies in Economic Development Marketing” survey has tracked trends in economic development since its inception in 1996.
This is the first year respondents were asked to rank the business favourability of the world’s 25 largest countries (based on GDP). Read the rest of this entry »
Posted in Indian Economy | Tagged: Investment | Leave a Comment »
Posted by Yogesh on Friday, 1 August, 2008
HYDERABAD, India – At least 32 people were killed after a train caught fire in southern India early Friday, a government statement said.
Eight others were injured in the accident and have been taken to a local hospital for treatment, the statement by the Federal Railway Ministry said.
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Posted in News | Tagged: fire | Leave a Comment »
Posted by Yogesh on Friday, 1 August, 2008
NEW DELHI, July 31 – India has no plans at the moment to allow foreign companies to take larger stakes in retail sector ventures, its Commerce and Industry Minister Kamal Nath said on Thursday.
Single-brand foreign retailers in India are allowed to take up to 51 percent in a venture with a local firm, while multi-brand retailers are limited to franchise or licence operations.
“There is no plan now to ease norms in retail,” Nath told reporters. Source Reuters
Posted in Sector Spotlight | Tagged: FDI, Retail | Leave a Comment »
Posted by Yogesh on Friday, 1 August, 2008
DUBAI, United Arab Emirates – The ICC’s world one-day rankings released Friday (previous year’s ranking and points in parentheses):
1. Australia (1), 130 points (129).
2. South Africa (2), 128 (127).
3. New Zealand (3), 116 (115).
4. India (4), 112 (113).
Read the rest of this entry »
Posted in News | Tagged: cricket, ICC, One day | Leave a Comment »
Posted by Yogesh on Friday, 1 August, 2008
NEW DELHI, India – India’s central bank has released a report predicting an economic slowdown, rising inflation and dwindling corporate profit growth over the next nine months.
Twenty forecasters surveyed by the bank expected that annual gross domestic product growth, now running at 9 percent, would slide to 7.9 percent over the next nine months, according to the report released late Thursday by the Reserve Bank of India. Read the rest of this entry »
Posted in Indian Economy | Tagged: Reserve Bank of India | Leave a Comment »
Posted by Yogesh on Friday, 1 August, 2008
MUMBAI, Aug 1 Renault said it has not held talks with India’s Bajaj Auto to partner on a $1 billion manufacturing alliance with Nissan Motor Co to make cars and powertrains in a new plant near Chennai.
A report in the Economic Times on Thursday had said Renault and Nissan, which are also developing a $2,500 car with Bajaj, were in talks to rope in the Indian motorbike maker for the Chennai project to make 400,000 cars and powertrains from 2010. Read the rest of this entry »
Posted in Corporate News | Tagged: Bajaj Auto, Renault | Leave a Comment »
Posted by Yogesh on Friday, 1 August, 2008
MUMBAI (Thomson Financial) – India’s Essar Oil Ltd. swung to a first quarter net profit on the back of a substantial rise in total revenues.
The oil refining company reported a net profit of 299.30 million rupees for the quarter ended June compared with a net loss of 56.70 million a year ago.
Read the rest of this entry »
Posted in Financial Result | Tagged: Essar Oil | Leave a Comment »
Posted by Yogesh on Friday, 1 August, 2008
MUMBAI (Thomson Financial) – India-based HCL Technologies Ltd. said its net profit for the year to June 30 fell to 10.51 billion rupees from 13.18 billion rupees a year earlier and total income rose to 77.56 billion rupees from 61.78 billion. Source CNBC
Posted in Financial Result | Tagged: HCL Technologies | Leave a Comment »
Posted by Yogesh on Friday, 1 August, 2008
MUMBAI, July 31 , India’s No.2 lender, on Thursday raised its main lending rates by 75 basis points after the central bank had raised its key rate earlier in the week.
The corporate lending rate will rise to 17.25 percent and retail rate to 14.25 percent from July 31, the bank said in a statement. It also raised fixed deposit rates by 75-100 basis points from August 1.
Read the rest of this entry »
Posted in Corporate News | Tagged: ICICI Bank, retail prime lending rates | Leave a Comment »
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