Monday, August 30, 2010

RIL buys 14% stake in EIH

RIL buys 14% stake in EIH

RIL buys 14% stake in EIH

Posted: 30 Aug 2010 05:10 PM PDT

Reliance Industries acquired a strategic stake of 14.12% in EIH — the company that owns and runs Oberoi Hotels and Resorts — for Rs 1,021 crore, staving off a potential takeover threat that EIH faces from ITC.

Cairn-Vedanta deal needs our consent: ONGC

Posted: 30 Aug 2010 05:16 PM PDT

Caught completely off guard by Cairn Energy Plc's move to sell up to 51% stake in Cairn India to London Stock Exchange-listed Vedanta Resources, ONGC has now told the Scottish explorer that the deal cannot go through.

Direct Tax Bill: Short-term, small investor to gain

Posted: 30 Aug 2010 05:12 PM PDT

The Direct Tax Bill has brought a big relief for investors as it proposes to continue with the existing provision of zero tax on long term capital gains and rationalize short-term capital gains tax for annual income up to Rs 10 lakh.

Posco buys 68% stake in Daewoo International

Posted: 30 Aug 2010 04:51 PM PDT

Posco, the world's third-biggest steelmaker, agreed to buy control of Daewoo International for 3.37 trillion won ($2.8 billion) to expand its sales network and gain raw materials as prices climb.

Rupee ends weaker against dollar

Posted: 30 Aug 2010 08:46 AM PDT

The rupee erased intraday gains on customary month-end dollar buying by refiners on Monday, but the dollar's broad weakness against the yen and a positive close of local stocks limited the fall.

Gold up to Rs 19,155 on fresh buying

Posted: 30 Aug 2010 03:21 AM PDT

Gold prices firmed up by Rs 10 to Rs 19,155 per ten gram in the bullion market here on fresh buying by jewellers and stockists amid weak global trends.

Sensex closes 34 pts up amid IT Bill fears

Posted: 30 Aug 2010 04:45 AM PDT

Stock markets reacted sharply to the Direct Tax Code Bill being tabled in the Lok Sabha today, with the BSE benchmark Sensex paring early gains to close just 34 points higher.

Govt may not be able to scrap Cairn-Vedanta deal

Posted: 30 Aug 2010 03:24 AM PDT

With Cairn Energy Plc voluntarily offering to meet government conditions, the Oil Ministry may find it difficult to nix its deal to sell majority stake in Cairn India to Vedanta Resources.

BlackBerry ban: Indian cos eye switch to rivals

Posted: 30 Aug 2010 01:51 AM PDT

Apple Inc and Nokia will be the biggest gainers if India blocks BlackBerry services. Both firms are waiting to gain a share in a market dominated by BlackBerry.

Nokia messenger services server in India by Nov 5

Posted: 30 Aug 2010 02:29 AM PDT

Mobile phone major Nokia on Monday said it would activate its Indian server for routing data for messenger services from Nov 5, adding its services have been cleared by security agencies.

Chinese retail tycoon's jail term upheld

Posted: 29 Aug 2010 10:27 PM PDT

Huang Guangyu, founder of Gome, China's biggest home appliance retailer, was convicted in May, becoming the latest in a string of Chinese entrepreneurs who have run afoul of the law.

Rupee gains 10 paise against dollar in early trade

Posted: 29 Aug 2010 10:24 PM PDT

The Indian rupee appreciated by 10 paise to Rs 46.79 a dollar in early trade on the Interbank Foreign Exchange on Monday, supported by fresh capital inflows into equity market by foreign funds.

Sensex surges on firm Asian cues

Posted: 29 Aug 2010 10:17 PM PDT

The Bombay Stock Exchange benchmark Sensex on Monday opened higher by over 218 points on widespread buying by funds, as the Asian markets firmed up in tandem with the recovery in the US markets last Friday.

Cairn-Vedanta deal needs our consent: ONGC

Posted: 30 Aug 2010 05:16 PM PDT

Caught completely off guard by Cairn Energy Plc's move to sell up to 51% stake in Cairn India to London Stock Exchange-listed Vedanta Resources, ONGC has now told the Scottish explorer that the deal cannot go through.

HP to pay USD 55 million to settle fraud allegations

Posted: 30 Aug 2010 08:37 PM PDT

Hewlett-Packard Co (HP) has agreed to pay the USD 55 million to settle claims which it defrauded federal government, the US justice department said.
Posted by Harshad at 9:04 PM

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