Government might initiate the bidding for Ultra Mega Power Project (UMPP) at Cheyyur in Tamil Nadu. This will be the fifth in the wake of proceeding with the task of adding 30,000 MW. An official from power ministry informed that though the plans regarding the qualification of the plant are slated to take place in [...]
With fall in both ‘number of placement offers from foreign firms’ and ‘interest in students for joining those’, domestic companies are experiencing the ‘feel good’ affect. Students seem to be low on the ‘charm’ once held by being employed by the overseas companies. This has made the ‘brain-drain’ to retract to some extent. Consequently, potential [...]
Mobile Value Added Service (VAS) providers are being looked at by the Private Equity Firms (PE) as viable options for investments. Some of these global venture capital funds and PEs are even closing their deals. Among the ones to head towards VAS are- Matrix India Asset Advisors, Fidelity, Helion Venture Partners and Cannan Advisors. In [...]
The BPO (Business Process Outsourcing) player, ExlService Holdings posted a drop of 65 percent in the Net Profits of fourth quarter in December 31’08. Post the fall, the value stands at $3.4 million. This is because of the forex losses suffered by the company together with the termination of a client’s contract. The revenues, though [...]
A note from HSBC said that a cut of 50 basis points might come up from the apex bank, RBI (Reserve Bank of India) to pull the nation out of the economic crisis. Robert Prior-Wandesforde, an economist at HSBC said that domestic activity should remain stable as several series of rate cuts together with easing [...]
Annual Inflation rate is believed to become zero or even go negative in coming weeks, but neither the government nor the people seem enthusiastic about it. The value for the index was 2.43 percent on February 28 being the lowest in past seven years. Also, the WPI (Wholesale Price Index) for the same period was [...]
Indian Billionaires can write-off the nation’s fiscal deficit by just two-thirds of their wealth. However, if US were to use this option for managing the situation, it will short of money despite accumulating from all the billion-dollar citizens. As per the latest reports from Forbes, Americans have dominated when it comes to ‘world’s richest people’. [...]
NCAER (National Council of Applied Economic Research), the economic think-tank, in its quarterly report said that India Inc’s confidence touched new lows in the month of January owing to the economic meltdown. One of the indices that reflects markets’ confidence, the ‘Business Confidence Index’ i.e. BCI registered a 41 percent fall, compared to where it [...]
Government has decided to impose safeguard duty on specified Aluminium products. This is a step to protect the domestic Aluminium industry from more economic imports from China. Safeguard Duty is one of the temporary measures brought in effect for a specific time period and is adopted by governments to shield their domestic players from ‘less [...]
IEA (International Energy Agency) said, in its monthly report that measures adopted by OPEC for cutting on the oil supply will help in bringing down the volume of Oil stocks of developed countries. IEA found that the degree of compliance with OPEC’s supply restraints, presently are 80 percent. Since September, the limit stands at 4.2 [...]