Uninor, the telecom joint venture between Norway’s Telenor and India’s Unitech has been launched in Bihar, Tamil Nadu, Kerala, Uttar Pradesh East and West, Karnataka and Andhra Pradesh. The telecom company has raised the levels in the ongoing tariff war by offering 29 paisa per minute calls which come out to be less than 1 [...]
According to a Reuter’s poll, The Reserve Bank of India will not be lifting rates any time soon despite growth indicator. Out of the 31 economists that were polled, only one-third said that the bank will raise the interest rates by the end of January. The poll has also revealed that all the economists that [...]
Bank of America has managed to raise $19.3 billion from the sale of securities at $15 per security which is being cited as the largest sale of stocks by any US public company since 2000. The bank sold 1, 286 billion common equivalent securities, Bloomberg has reported. BofA plans to return the $45 billion it [...]
Godrej Properties Ltd, a unit of Godrej Industries Ltd told to the Bombay Stock Exchange that they have set a price band for its initial public offerings (IPO) at Rs 490-530 per share. This public offering has been planned to open on December 9. The company has planned to raise 500 crore from its initial [...]
Deepak Parekh, who has been the CEO of Housing Development Finance Corporation for the last sixteen years, is ready to step down as mentor and guide on 31st of December. HDFC bank was founded by Parekh’s uncle in 1977, a time housing loans were an alien concept in India. HDFC, under Parekh’s guidance has been [...]
Gold Fields Mineral Services (GFMS), a metal consultancy has reported that China is most likely to leave India behind in terms of highest gold consumption as the world’ most populated is expected to purchase 432 tonnes of gold this year. GFMS executive chairman, Philip Klapwijk, said in gold conference that total gold demand in China [...]
India’s Finance Minister Pranab Mukherjee said that further growth of the economy was expected in the second half of the financial year as the government was positive that the industry will continue to show a forward growth as seen in the first half. The reason for the optimistic remarks of the FM is that the [...]
Friday saw Indian investors step outside of the looming shadow of the Dubai World debt fiasco that threatened another global crisis. Vital benchmark indices increased by an average 3 percent when the market closed yesterday. The Bombay Stock Exchange (BSE) closed at 17,101.54 points, 469.53 points (2.82 percent) higher than last weeks close of 16,632.01 [...]
The Sunday Times has reported that Arcelor-Mittal, the European steel company, will gain around 1 billion pounds(Rs.7000 Crore), by selling EU carbon credits by 2012. European companies are issued special permits by the EU called Carbon credits that allow the companies to emit carbon-di-oxide and other green house gases upto a certain limit. After that [...]
In the year 2010, the Tata will come up with a new look for its recently acquired Corus Steel, at a time when the company is emerging from the financial strains of the global economic meltdown. The spokesperson from Corus said that it was the company’s intention to accept Tata Steel brand as its visual [...]