By China Earnings Jump At JPMorgan But Street Stifled The report drew a muted reaction though, with JPMorgan shares up 0.8%. Bank of America ( BAC – news – people ) and Citigroup ( C – news – people ), due to report earnings next week, were up 0.5% and 0.7% respectively. Intel ( INTC [...]
The widening debt levels and credit deficits of West Bengal have caused the Credit Rating Agencies to get anxious about the state’s credit position. Fitch ratings India has discovered that the state’s credit standing has degraded over a period of time. Care Ratings is also expected to carry out review on similar lines. The declined [...]
The Reserve Bank of India (RBI) is planning to set up a financial stability unit with a view to protect the economy from severe volatility in the noticed in crucial financial indicators like interest rates, liquidity and credit default. RBI has got the suggestion to constitute the financial stability unit from a committee formed for [...]
An extra-ordinary general meeting (EGM) of the shareholders of Reliance Industries Ltd (RIL) took place in Mumbai on Saturday to vote on the merger of Reliance Petroleum Ltd with RIL. The voting results will be announced on Monday. Apart from Equity Shareholders, secured and unsecured creditors of the company voted on the merger proposal. A [...]
Though several hotels have cut down on their prices, the Tourism Industry is to witness even more after effects of global economic turmoil. The holiday traffic is estimated to dip by 30 percent in the summer season. Ajay Bakaya, the executive director at sarovar Hotels said that not many Indian families are believed to make [...]
The volume of imports of finished steel products climbed up by 40% in March as compared to the position they stood at in the previous month. This shows that the stimulus packages and other measures adopted by the government in bringing the economy back on track have started paying off. In this direction, infrastructure and [...]
Sovereign Wealth Funds (SWFs) have been entering India, after foreign pension pools and portfolio funds tasted success in the emerging economy. In total, nearly Rs.14,850 crore have reached India from government-promoted investment funds. This amount came in since 2000, as revealed by a report from United States Government Accountability Office. Sovereign Wealth Funds, though usually [...]
Wockhardt is eyeing the $33billion biosimilar market and concentrate on products that are waiting for loss of patent protection in 2013-2015. ‘Biosimilar products segment’ comprises biologic medicines’ second versions that use the same mechanism and therapeutic indication as is employed by the innovator product. Though other Pharma companies are also tapping the biosimilar market, Wockhardt [...]
The retail markets from rural regions of India are believed to stand at $300billion, giving an optimistic outlook of the industry after the urban retail domain seems to be shrinking. The per capita income from rural areas has already grown by 50 percent within last ten years owing to the improvements in productivity and jumps [...]
Confederation of Indian Industry (CII) is to ask West Bengal government to follow the new model Agriculture Produce Marketing Committee (AMPC) Act developed by the Centre. On the sidelines of the arrangement, Venu Srinivasan (CII President and CMD at TVS Motor) and Kurush Grant (CII Deputy Chairman and Chief Executive at ITC) said that industry’s [...]