Wednesday, March 28, 2012

Stake sale talk as Mallya struggles

Stake sale talk as Mallya struggles

Stake sale talk as Mallya struggles

Posted: 28 Mar 2012 05:27 PM PDT

The world's largest drinks company Diageo Plc and Dutch brewer Heineken are tracking developments at troubled billionaire Vijay Mallya's UB Group even as senior officials of his alcoholic beverages conglomerate rubbished talks of share sale to save the debt-laden Kingfisher Airlines.

Tatas ready C&W bid after fund mop-up

Posted: 28 Mar 2012 05:22 PM PDT

Tata Communications is gearing up to bid for UK's Cable & Wireless Worldwide (C&W) after tying up $2 billion debt to finance the acquisition.

US raises H-1B visa fee again by around Rs 12.5K

Posted: 28 Mar 2012 05:19 PM PDT

On Wednesday, this problem was compounded with an increase in the fees for H-1B visas, which too are used extensively by Indian IT companies to service US clients on-site.

Carlsberg No. 2 in Delhi, tops SABMiller

Posted: 28 Mar 2012 05:11 PM PDT

Brewing giant Carlsberg A/S has toppled SABMiller to emerge the second largest beer maker in Delhi, and third largest nationally, as it makes strong inroads in India's urban markets.

UK fund invokes treaties for CIL loss

Posted: 28 Mar 2012 05:07 PM PDT

UK-based fund, The Children Investment (TCI) Fund, is invoking the provisions of India-UK and India-Cyprus bilateral treaties to demand compensation from the Indian government for the losses it suffered as a shareholder in Coal India.

China leads, BRICS backs Iran

Posted: 28 Mar 2012 05:05 PM PDT

China led the way for the BRICS, comprising Brazil Russia, India, China and South Africa, to back Iran on Wednesday, which is facing US and European oil sanctions.

BRICS pushes for a multilateral bank

Posted: 28 Mar 2012 01:30 PM PDT

Leaders from the five BRICS countries will kick off a plan on Thursday to put together a development bank on the lines of the World Bank and the Asian Development Bank.

RIM cuts prices of some BlackBerry models in India

Posted: 28 Mar 2012 10:15 AM PDT

BlackBerry-maker Research In Motion (RIM.TO) has cut prices of some of its smartphone models in India by up to 27 percent, in a move to boost sales in the world's second-biggest mobile phone market.

Rupee down by 9 paise Vs dollar at 50.78/79

Posted: 28 Mar 2012 06:32 AM PDT

The rupee today fell moderately by 9 paise to close at 50.78/79 against the US currency following weakness in local stocks and good dollar demand from importers.

Hyundai launches new i20

Posted: 28 Mar 2012 04:49 AM PDT

The all new 'iGen i20' will replace the existing i20. The petrol variants of the new version is priced from Rs 4.73 lakh to Rs 6.65 lakh (ex-showroom Delhi).

Sensex drops 136 points

Posted: 28 Mar 2012 04:24 AM PDT

The BSE benchmark Sensex today fell 136 points today on funds selling ahead of settlement in the derivatives segment amid lingering fears of short-term capital gains tax on funds selling equities to foreign investors.

Hinduja group forms JV with Germany's STEAG

Posted: 28 Mar 2012 02:02 AM PDT

Hinduja group said it has joined hands with German energy giant STEAG to form a joint venture for operations and maintenance of various power projects in India.

India sees $600m investment in exploration round

Posted: 28 Mar 2012 12:13 AM PDT

India's upstream regulator hopes to get an investment of $600 million in the ninth exploration licensing round.

India oil ministry seeks $7.88bn extra compensation

Posted: 27 Mar 2012 11:57 PM PDT

India's oil ministry has sought an additional cash compensation of 400 billion rupees ($7.88 billion) from the finance ministry to partially cover revenue losses of state-run companies that sell diesel, kerosene, and cooking gas at state-set subsidised rates, the oil secretary said on Wednesday.

Rupee loses 41 paise vs dollar

Posted: 27 Mar 2012 11:15 PM PDT

The rupee today declined further and lost 41 paise to 51.10 against the US dollar in the late morning trade due to month-end demand for the American currency.

Rajat Gupta loses wiretap ruling, wins on SEC notes

Posted: 27 Mar 2012 11:00 PM PDT

Former Goldman Sachs Group Inc director Rajat Gupta lost his bid to suppress wiretap evidence at his upcoming criminal trial on charges that he leaked boardroom secrets to hedge fund founder Raj Rajaratnam.

Stem cell sector in India to touch $8 bn mark by 2015

Posted: 27 Mar 2012 10:39 PM PDT

Lack of legislation and awareness coupled with quality and ethical Issues has been deterrent to the growth of stem cell therapy sector in India, where the bio-tech market is expected to achieve a market size of USD 8 billion by 2015, according to a report by the Yes bank.

Oil falls below $107 after US crude supply jump

Posted: 27 Mar 2012 10:27 PM PDT

Oil prices fell to below $107 a barrel on Wednesday in Asia after a report showed a larger-than-expected jump in U.S.crude supplies, suggesting demand remains weak.

Rupee loses 41 paise against dollar

Posted: 27 Mar 2012 09:45 PM PDT

The rupee today declined by 27 paise to 50.96 against the US dollar on the Interbank Foreign Exchange market in early trade, due to increased demand for the American currency from importers.

Rupee down 27 paise against dollar

Posted: 27 Mar 2012 09:45 PM PDT

The rupee today declined by 27 paise to 50.96 against the US dollar on the Interbank Foreign Exchange market in early trade, due to increased demand for the American currency from importers.

Sensex down 106 points in early trade

Posted: 27 Mar 2012 09:32 PM PDT

The BSE benchmark index Sensex today declined by over 106 points in early trade, as funds and retail investors booked profits after yesterday's gains amid a weakening trend on other Asian bourses.
Posted by Harshad at 9:28 PM

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