Posted by Yogesh on Wednesday, 12 November, 2008
MUMBAI, Nov 12 (Reuters) – Jet Airways, India’s largest private carrier, on Wednesday denied a newspaper report it would sell a 10 percent stake to Singapore state investor Temasek Holdings for 2.5 billion rupees ($50 million).
“With regard to this particular news item, we wish to clarify that it is not correct,” Jet said in a statement to the stock exchange.
The Economic Times, citing unnamed sources, reported on Wednesday the airline was in advanced negotiations to sell the stake to Temasek. Read the rest of this entry »
Posted in Corporate News | Tagged: Jet Airways | Leave a Comment »
Posted by Yogesh on Wednesday, 12 November, 2008
MUMBAI (Reuters) – Have money, will buy Mercedes and mobile phone.
That seems to be the mantra in India, where sales of luxury cars and mobile subscriptions are bucking the overall trend of lower consumer demand and slowing economic growth.
India’s benchmark stock market is down more than half in 2008, industrial production has fallen and analysts expect economic growth could slow to below 7 percent in the year to March 2009 from 9 percent or higher in the past three years. Read the rest of this entry »
Posted in Indian Economy | Leave a Comment »
Posted by Yogesh on Wednesday, 12 November, 2008
TOKYO/NEW DELHI (Reuters) – NTT DoCoMo Inc will pay $2.7 billion for a 26 percent stake in Indian telecom Tata Teleservices, giving Japan’s top mobile operator a foothold in the world’s fastest-growing major mobile market.
DoCoMo’s deal with India’s No. 6 mobile operator follows a $350 million investment in Bangladesh’s No.3 cellphone carrier, as it speeds up its expansion beyond a mature home market, and adds to the record $63 billion of overseas acquisitions by Japanese firms this year.
But as DoCoMo expands, salt-to-software conglomerate Tata Group — the parent of unlisted Tata Teleservices and the flagbearer for corporate India’s recent overseas expansion — has put its plans for acquisitions on hold due to the global credit crisis. Read the rest of this entry »
Posted in Corporate News | Tagged: DoCoMo, Tata Teleservices | Leave a Comment »
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