According to a survey, Indian manufacturing reported a slow pace for the fourth consecutive month in Feb owing to the sorry state at stock markets and the ‘seemingly’ never-ending economic effects. The ABN AMRO Bank PMI (Purchasing Managers Index) that was evaluated on data of 500 companies jumped to 47.0 in February from Jan’s 46.7. [...]
P Chidambaram, the Union Home Minister said that the Public sector Undertakings (PSUs) like BHEL (Bharat Heavy Electrical Limited) do not seem to get affected by the economic turmoil and are on a ‘growth path’ despite it. He further informed that besides boasting a robust order currently it has in its kitty, there are prospects [...]
American International Group Inc. made an announcement on Monday that it had made a loss of $61.7 billion in the fourth quarter amid worsening financial crisis. It is biggest quarterly loss in the history of US Corporate. The US Government also announced the restructuring of the bailout plan and extended $30 billion as additional aid [...]
To ensure that minimum broadband speed is offered to the customers, the Telecom Regulatory Authority of India (TRAI) today issued new guidelines for the Internet Service Providers and Telecommunication Operators regarding the same. But some people are of the view that the move will indirectly raise the broadband tariffs as companies will need to buy [...]
After about one month of SEBI (Securities and Exchange Board of India) declaring its final take on ‘share pledging’, promoters from about 75 companies have been found to pledge shares lying in the range 30-40 percent. In some cases, even higher percentage has been pledged that can be up to 75-80 percent of promoters’ stake. [...]
Sterlite Industries which is led by renowned NRI billionaire Anil Agarwal, today said in a statement that it has entered into an agreement with US-based copper producer Asarco to buyout the company for $1.1 billion. Sterlite would purchase all the operating assets of Asarco and payment would be made in cash and promissory notes worth [...]
The global meltdown has somehow able to restore the much lost charm of the PSU jobs in the market and it has now emerged as a preferred job destination for many students passing out from IITs and IIMs. Bharat Heavy Electricals Ltd (BHEL), a blue chip company of the country has been invited for a [...]
Telecom regulatory body of the country, TRAI today lowered the termination charges by 33 percent and there are good chances that telecom operators may follow it with mobile tariff cuts soon. TRAI has slashed the termination charges by 10 paisa per minute on local calls to 20 paisa per minute from existing rate of 30 [...]
The 15 day deadline given by EPFO (Employee Provident Fund Organization) to the Subhiksha MD R Subramaniam for paying the dues related to salaries and provident funds of its employees has ended. This has caused the PF officials to think on attaching the personal bank accounts of Subramaniam and the properties of the retail chain [...]
Yogesh Agarwal, the Chairman and Managing Director of state-owned IDBI Bank informed that it is looking forward to have nearly 2,000 supervisory officers for assisting the branch network expansions. He was interacting with the reports on the sidelines of a press meet that marked the launching of costing software. He also informed that approval from [...]