Narendra Modi, the Chief Minister of Gujarat has declared a package to better train the Diamond workers. The Diamond Industry has been one of the major sufferers of the global economic slowdown leaving the workers in pitiful conditions. To pull them out of the troubles, the Chief Minister has come up with a relieving package. [...]
The Economic Times has reported today that the ICICI Bank which is India’s No.2 lender is expected to get approval to open its branches, take deposits and give loans in Singapore. Singapore has given permission to ICICI Bank to operate as qualified full bank (QFB), after the State Bank of India this will be the [...]
Infosys Technologies announced the opening of a wholly owned subsidiary called Infosys Technologies Inc which will be located in Dallas Texas. Indias second largest IT company has opened its services in US in order to tap into the multi-billion dollar market of government contrats and projects which include those in defence sector, healthcare and homeland [...]
With an eye on raising funds for the acquisition of LyondellBasell, a leading chemical company, Reliance Industries has offloaded a significant amount of its treasure shares and has raised Rs 2,675 crore. The shares were sold to LIC which incidentally is the largest institutional stake holder in RIL will now have 6.8 stock holding in [...]
The price of crude oil is steadily inching up in the international market and this upward movement is going to sharply affect the financial position of the state owned oil companies. As of today crude prices hover around the $82 mark. Oil prices for brief period had gone down due to the recession in last [...]
The Reserve Banks of India has announced that it has increased the cash reserve ratio (CRR) by 75 basis points to 5.75 percent. This decision pertaining to CRR was made along with the central banks decision to keep the Repo Rate and Reverse Repo Rate unchanged. Voicing is concern over the prevailing inflation rates, RBI [...]
With an eye on bringing out common measurable standardized practice in the mutual fund industry, SEBI has called upon on funds to follow the concept of residual maturity for a period of 91 days on the concept of weighted average price for debt securities. The move by SEBI is seen as an effort by the [...]
SBI Chairman, OP Bhatt has mentioned that interest rates are unlikely to mount in the next 6 months; in a statement recorded at an AIMA event. The reason cited for the aforementioned statement is that the increasing of the lending rates in a low demand market would result in losses for bank’s margin. Furthermore, this [...]
In a budgetary statement, the Finance Minister Mr. Pranab Mukherjee indicated rise in inflation to double digits in March 2010 which is a strong indication that the price rise is moving much beyond the food items category. The fuel prices have already shot up to 10 percent, following the price rise of diesel and petrol, [...]