Archive for August 14th, 2008
Posted by Yogesh on Thursday, 14 August, 2008
Inflation for the week-ended August 2 has come in at 12.44% as against 12.01%, reports CNBC-TV18. A CNBC-TV18 poll saw inflation rising to 12.15% for the week ended August 2.
What are experts saying?
Saugata Bhattacharya, Economist, Axis Bank feels that the inflation levels have come as a shock. “What is even more surprising is that this seems to have happened during a period when the prices in India of many commodities seem to have been falling. Oil prices have definitely fallen significantly, many commodity prices have also and edible oil price are fallen. So I don’t really know what it is that has caused this surprise. I would bet it’s coming in from the primary commodities, coming in from food, vegetables and maybe some food grains which is also very surprising; given the food grain stock that we currently have in the market unless we know the break up what where is coming in from.” Read the rest of this entry »
Posted in Indian Economy | Tagged: Inflation | Leave a Comment »
Posted by Yogesh on Thursday, 14 August, 2008
MUMBAI (Thomson Financial) – India’s Sun Pharma Ltd. said the U.S. Federal Trade Commission (FTC) has terminated the antitrust waiting period for Sun’s purchase of U.S.-listed Taro Pharma, after Sun agreed to sell the rights and assets to three generic formulations of the anticonvulsant drug carbamazepine to Torrent Pharmaceutical Ltd.
Read the rest of this entry »
Posted in Corporate News | Tagged: Mergers Acquisitions, Sun Pharma, Taro Pharma | Leave a Comment »
Posted by Yogesh on Thursday, 14 August, 2008
MUMBAI (Thomson Financial) – India’s state-run PEC Ltd. said it plans to import 28,000 tonnes of pulses to be shipped by next month and it will take a decision on the tender on Aug. 27.
The company said in its tender document it intends to import 2,000 of moong, 7,000 tonnes of urad, 12,000 tonnes of toor, 2,000 tonnes of chick peas, 1,000 tonnes of dun peas and 4,000 tonnes of red lentils and the last date for submission of bids is Aug. 20. India’s pulses production for 2007-08 is estimated to rise to 15.11 million tonnes from 14.20 million tonnes a year earlier.
India also plans to import 1.5 million tonnes of pulses through state-run trading firms like MMTC, State Trading Corp., PEC and NAFED.
Source CNBC
Posted in Corporate News | Tagged: PEC, pulses, tender | Leave a Comment »
Posted by Yogesh on Thursday, 14 August, 2008
NEW DELHI, Aug 14 – Reliance Communications , India’s No. 2 mobile operator, added 1.75 million wireless users in July, taking its total user base to 52.5 million, it said on Thursday.
Source Reuters
Posted in Corporate News | Tagged: Reliance Communication | Leave a Comment »
Posted by Yogesh on Thursday, 14 August, 2008
NEW DELHI, Aug 14 – India on Thursday cleared 9 foreign direct investment proposals totalling 2.94 billion rupees including those of JP Morgan and Rio Tinto.
JP Morgan has been permitted to invest almost a billion rupees, including in hotel and hospitality services.
India, however, deferred a proposal from Idea Cellular arm Aditya Birla Telecom to raise its foreign investment holding to 74 percent.
Source Reuters
Posted in Corporate News | Tagged: Investment | Leave a Comment »
Posted by Yogesh on Thursday, 14 August, 2008
TOKYO, Aug 14 Sanyo said it had closed a box TV plant in India operated by a joint venture with local partner BPL after its profitability had been hit by price falls and a shift in demand to flat TVs.
Sanyo BPL, created in 2004 to make cathode ray tube TVs for the Indian market, produced 400,000 colour CRT models in the year ended March, and had revenues of about 4.5 billion yen . Read the rest of this entry »
Posted in Corporate News | Tagged: BPL, Sanyo | Leave a Comment »
Posted by Yogesh on Thursday, 14 August, 2008
NEW DELHI, Aug 14 – India’s telecoms ministry has begun the process of appointing an agency to conduct a global auction for third-generation wireless spectrum and does not expect the auction to be delayed, a government spokesman said.
The telecoms minister announced details of the auction on Aug. 1 for services that will enable operators to provide facilities li Read the rest of this entry »
Posted in Sector Spotlight | Tagged: 3G | Leave a Comment »
Posted by Yogesh on Thursday, 14 August, 2008
MUMBAI, Aug 14 , SBI India’s top lender, said on Thursday the finance ministry had approved its plan to acquire associate State Bank of Saurashtra.
The federal cabinet had approved the merger in July. Source Reuters
Posted in Sector Spotlight | Tagged: Mergers Acquisitions, SBI | Leave a Comment »
Posted by Yogesh on Thursday, 14 August, 2008
Mumbai: Mahanagar Telephone Nigam Ltd (MTNL) will cut broadband charges in Delhi by up to 50 per cent and reduce the monthly rentals for some plans by 34 per cent. These plans will be available in Delhi from 15 August, reports said.
MTNL also announced the launch of its mobile TV service. The service will be available to all the MTNL customers on both Dolphin and Trump in Delhi and the NCR region. The users can view 20 different channels for Rs99 per month, the company’s executive director – Delhi, A K Arora, said. Read the rest of this entry »
Posted in Corporate News | Tagged: broadband, Mobile TV | Leave a Comment »
Posted by Yogesh on Thursday, 14 August, 2008
MUMBAI: Remit2India, the flagship brand of TimesofMoney and a one-stop destination for money transfers for Non-Resident Indians (NRIs), on Wednesday launched a remittance solution called My Exchange Rate, targeted at its NRI customers in the United States.
“Using this facility, NRI customers now have the choice of fixing the exchange rates for making a remittance to India,” a company press release said here. Read the rest of this entry »
Posted in Non Resident Indian | Tagged: Remittance | Leave a Comment »
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