With an eye on maximizing its investments Singapore Telecommunications has asserted that it will push up its stake in Bharti Airtel to 31.95 percent. Incidentally Singapore Telecommunications is the largest telecom firm in Southeast Asia in terms of overall revenue and it is currently looking to expand its footprint The company mentioned that its unit [...]
The Indian Rupee today rose sharply against the US dollar over news that foreign inflows are expected in the economy owing to the rising stock markets and strong economy. The rupee incidentally marked a gain of nearly 22 paise in early trade today and reached the figure of 47.18 against the USD. The rupee has [...]
Owing to the weak demand, Tata Steel has decided to bring down the price of its flat steel product offerings by 4 percent, a trend which has been notice across the industry. Analysts believe that there is a over supply situation in the international steel market and this has been the major driver behinds Tata [...]
Building on strngthening Chinese markets, fundamental demand for Oil as Oil prices rose and it has driven up the price for crude in the international markets Meanwhile, light sweet crude, New York’s main contract for delivery in December crossed the $80 mark and rose to $80.81 whereas Brent North Sea crude increased 31 cents to [...]
The Government has decided to come to the rescue of Air India, however the aid it is promising will come in parts. The Government has decided to give funds to NACIL on a monthly basis and not in huge bulk amounts. Air India, was running on a loss of Rs7200 crores till March 2009. It [...]
International Finance Corporation has plans to invest $1 billon in India. The World Bank member gave further indications that the investment can increase in the coming years. IFC executive vice president and CEO, Lars Thuneli commented that foreign investment and exposure is growing in India as multilateral agencies are increasing their capital globally. IFC, whose [...]
The Sensex showed volatility in trading across last few days and it currently hovering around the 17000 mark. Analysts though believe that the market fundamentals remain strong. The markets also seem to respond positively to governments moves related to disinvestment. On Friday the government had said all ministries will compile a list of state run [...]
Mahindra Satyam’s stock dropped significantly today and it reached to Rs 103.45 on early morning trade at the Bombay Stock Exchange, after the software company announced that it will not acknowledge the claims of the 37 companies that were associated with B Ramalinga Raju. The claims were made to the tune of Rs.1230 crores Mahindra [...]
As the economies of the west are still dealing with the plague of recession, India’s Finance Minister, Pranab Mukherjee claims that the government has necessary tools to tackle the inflow of foreign investments, if they become a problem. The Finance Minister also added that the matter was of no concern and that everything is being [...]
For the first time in 20 years government has to import rice due to shortfall of kharif crop. The kharif crop likely to fall nearly 18% which is 69.45 million tones due to scanty rainfall which lead to shortfall of about 15million tones in 2009-2010. The Rice and Wheat are in surplus quantity said the [...]