10K India-made Micras recalled across Europe

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• 10K India-made Micras recalled across Europe
• Kingfisher Airlines gets offer from 2 desi investors
• MCX IPO investor demand at $7 billion
• Crude may scale $150 on Iran crisis
• 'Demand from India, China spiking prices'
• 'Tax offshore deals if 50% assets in India'
• 'Tax offshore deals if 50% assets in India'
• HDFC shares dip over 3% on share sale by Citi
• CEOs slip to 4th place on credibility index: Study
• Reliance sells additional $500 million bonds
• Re gains 26 paise to close at 3-week high level
• Sensex ends below 18k on profit booking
• Sensex closes 172 points lower
• Citi sells entire stake in HDFC for Rs 9,327 cr
• Rupee off highs on oil-related payments
• US CEO gets 30 months in jail for bribing Nigerians
• Indian rupee rises on inflows; importers weigh
• Crude oil futures up 1.24% on global cues

10K India-made Micras recalled across Europe Posted: 24 Feb 2012 03:29 PM PST Nissan has recalled around 10,000 units of the India-made Micra that had been sold across Europe, to fix a potential mechanical problem . However, there has been no recall of the models sold in India.

Kingfisher Airlines gets offer from 2 desi investors Posted: 24 Feb 2012 12:56 PM PST The beleaguered Kingfisher Airlines has received recapitalization offers from two large Indian investors for Rs 800 crore, airline chairman Vijay Mallya said. The investor would pick up 24% stake if the deal was clinched, he added.

MCX IPO investor demand at $7 billion Posted: 24 Feb 2012 12:43 PM PST Nearly one-and-half years after the Coal India offer, the maiden public issue for Multi Commodity Exchange (MCX) again created a record of sorts on Friday.

Crude may scale $150 on Iran crisis Posted: 24 Feb 2012 12:32 PM PST Oil, which touched $124 a barrel mark on Friday, appears set to touch a new record and breach the $150 mark on mounting Iran crisis. Analysts feel that the government is holding back from hiking fuel prices because of the ongoing elections and a steep hike is likely next month.

'Demand from India, China spiking prices' Posted: 24 Feb 2012 12:29 PM PST Attributing rising oil prices to growing demand in countries like China, India and Brazil, President Obama has accused his Republican rivals of using the pain at the pump to score political points.

'Tax offshore deals if 50% assets in India' Posted: 24 Feb 2012 12:04 PM PST Mergers like the Vodafone-Hutchison, which are inked outside the country, will be subject to tax liability only if more than 50% of the assets involved are located in India, Parliament's standing committee on finance is expected to recommend in its report on the Direct Tax Code Bill.

'Tax offshore deals if 50% assets in India' Posted: 24 Feb 2012 12:04 PM PST Mergers like the Vodafone-Hutchison, which are inked outside the country, will be subject to tax liability only if more than 50% of the assets involved are located in India, Parliament's standing committee on finance is expected to recommend in its report on the Direct Tax Code Bill.

HDFC shares dip over 3% on share sale by Citi Posted: 24 Feb 2012 09:51 AM PST Shares of HDFC today dropped by over 3 per cent today, after global financial services giant Citigroup sold its entire stake in the Indian housing finance major for around Rs 9,327 crore.

CEOs slip to 4th place on credibility index: Study Posted: 24 Feb 2012 07:34 AM PST Amid tough economic and business conditions, the CEOs in India have slipped to fourth position in terms of their credibility perception and are now less trusted than even the common people, a survey has said.

Reliance sells additional $500 million bonds Posted: 24 Feb 2012 06:36 AM PST Reliance Industries on Friday said it has further sold $500 million of its existing 5.4% bonds, redemption of which is due in February, 2022.

Re gains 26 paise to close at 3-week high level Posted: 24 Feb 2012 05:42 AM PST The rupee on Friday ended below 49-mark at 48.93/94 -- its three-week high level -- against the American currency on sustained dollar selling by exporters and some banks.

Sensex ends below 18k on profit booking Posted: 24 Feb 2012 03:37 AM PST The Bombay Stock Exchange benchmark sensex on Friday fell for the third day in a row to below the 18k mark, down 155 points on profit booking amid weak global trend and concerns over steep hike in crude oil prices.

Sensex closes 172 points lower Posted: 24 Feb 2012 03:05 AM PST A benchmark for Indian markets on Friday provisionally closed 172 points lower, below the 18,000-mark as selling pressure continued.

Citi sells entire stake in HDFC for Rs 9,327 cr Posted: 24 Feb 2012 02:45 AM PST Leading global financial services company Citi Inc has sold its entire stake in housing finance major HDFC for USD 1.9 billion (around Rs 9,327 crore).

Rupee off highs on oil-related payments Posted: 24 Feb 2012 01:19 AM PST Rupee was knocked off its early highs on Friday as dollar demand from oil importers remained strong and local equities moved deeper into negative territory.

US CEO gets 30 months in jail for bribing Nigerians Posted: 23 Feb 2012 09:56 PM PST The former head of US construction company KBR was sentenced to 30 months in prison over the bribing of Nigerian officials to win contracts.

Indian rupee rises on inflows; importers weigh Posted: 23 Feb 2012 09:50 PM PST The Indian rupee climbed higher on Friday driven by robust capital flows into local stocks and debt, but oil importers' clamour for dollars is seen capping the gains.

Crude oil futures up 1.24% on global cues Posted: 23 Feb 2012 09:47 PM PST Crude oil futures rose by 1.24 per cent to Rs 5,396 per barrel on Friday, as speculators enlarged their positions following firming global trends.

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