Business

India to make fresh proposals on Iran pipeline

Siddharth Varadarajan The Hindu 31.10.2008
India to make fresh proposals on Iran pipeline

New Delhi: Falling oil prices and the successful conclusion of the Indo-U.S. nuclear agreement have come together to produce a renewed Indian interest in the $7.4 million natural gas pipeline from Iran.

India cash rate leaps; bonds look for rate cut

Saikat Chatterjee, Swati Bhat Reuters India 31.10.2008
India cash rate leaps; bonds look for rate cut

India's overnight lending rate leaped above 20 percent on Friday as banks stashed cash ahead of a government bond sale, squeezing rates to their highest since the global crisis broke in earnest over India earlier this month.


Govt goes into huddle over G20 meet

The Economic Times 30.10.2008
Govt goes into huddle over G20 meet

NEW DELHI: Kicking off the process of formulating India's stand at next month's crucial G20 summit on the global financial sector meltdown, finance minister P Chidambaram chaired a meeting with key regulators, policymakers and experts on Wednesday...

Unitech offloads 60% stake in telecom biz to Telenor

Telenor of Norway has entered the Indian telecom market. It has signed an agreement to acquire 60 per cent stake in Unitech Ltd’s telecom venture, Unitech Wireless, for Rs 6,120 crore.


Inflation eases to 10.68%

The Economic Times 30.10.2008
Inflation eases to 10.68%

NEW DELHI: Inflation fell below 11% to 10.68% during the week ended October 18 from 11.07% a week earlier.Earlier, a poll showed that the inflation rate was expected to have eased below 11% in mid-October for the first time in almost five months, ...

Unitech to sell stake in its telecom arm

Joji Thomas Philip The Economic Times 29.10.2008
Unitech to sell stake in its telecom arm

Real estate major Unitech has finalised its deal to offload stake in its telecom arm Unitech Wireless to Norwegian telecom giant Telenor. UNitech will inform the stock exchanges later today. Unitech is likely to sell its 43% stake for around 1 bil...


Indian companies may cut jobs by 25 pct soon - trade body

NEW DELHI (Reuters) - Indian firms are likely to lay off a quarter of their employees in the next 10 days, as part of steps to contain costs in the face of shrinking margins amidst the economic turmoil, an industry body said on Wednesday.

Decision on oil prices in a week: Deora

Hindustan Times 23.10.2008
Decision on oil prices in a week: Deora

With global crude oil dipping below $67 per barrel, Petroleum Minister Murli Deora on Thursday said the government will decide within a week what prices oil retaining companies should charge for transport and cooking fuels.


3G spectrum auction postponed to next year

The Union Communications Minister, A Raja officially confirmed that the 3G auctions which were originally scheduled to be held in December this year have now been postponed to be conducted on January 2009.

NEW DELHI: For the first time, the govt today admitted that it may miss the budget targets for fiscal and revenue deficits for 2008-09 as global financial crisis is exerting pressure.


Airlines can repay fuel dues in 6 instalments

Indian carriers troubled by a financial crunch on Wednesday got time until March 2009 to clear their dues, estimated at about Rs 2,500-2,800 crore, to Oil companies in equated monthly installments.

Have faith in India, PM tells Japan's investors

Murali Krishnan The Hindustan Times 22.10.2008
Have faith in India, PM tells Japan's investors

Exhorting Japanese investors not to worry about the difficulties thrown up by the international financial crisis, visiting Prime Minister Manmohan Singh Wednesday urged the country's industrialists to have faith in India's financial system.


Mamata Threatens Legal Action Against Ratan Tata

Shilpa Mahapatre TopNews 21.10.2008
Mamata Threatens Legal Action Against Ratan Tata

Trinamool Congress chief, Mamata Banerjee has demanded apology from TATA chief Ratan Tata. She criticized him for his derogatory remarks in his letter.

Short selling could even be banned: Sebi chief

In a key change in its stance, the SEBI chief, CB Bhave, has told NDTV’s Prannoy Roy that it may crack down on short selling. A section of brokers believe short selling may be one of the key factors responsible for the collapsing stock market. Sho...


RBI special repo facility finds few takers

Saikat Chatterjee, Nishant Kumar Reuters 21.10.2008
RBI special repo facility finds few takers

MUMBAI (Reuters) - The Reserve Bank of India (RBI) special money market operation to provide money to mutual funds has found few takers as a series of liquidity inducing measures has eased the cash crunch in the financial system, industry experts ...

Srinagar-Muzaffarabad road thrown open to cross-LoC trade

After a gap of over six decades, Srinagar-Muzaffarabad road was today thrown open to cross-LoC trade with Jammu and Kashmir Governor N N Vohra flagging off a convoy of 13 trucks for the historic journey.


Soap bubble bursts, Kyunki to go off air | The tele bahu saga

New Delhi: After Balaji Telefilms’ popular soap Kahani Ghar Ghar Ki, it is now time for Kyunki Saas Bhi Kabhie Bahu Thi to go off air. One of the longest running soap in Indian television's history, Kyunki Saas Bhi Kabhie Bahu Thi has been running...

Nokia Siemens to spend $70 mln on new India plant

Devidutta Tripathy, John Mair Reuters India 17.10.2008
Nokia Siemens to spend $70 mln on new India plant

Telecoms network gear maker Nokia Siemens Networks [NSN.UL] said it will invest $70 million over three years in a new Indian factory that will make and distribute mobile communication equipment.


Tatas To Set Up Aerospace Unit In AP

Divesh Sharma TopNews 17.10.2008
Tatas To Set Up Aerospace Unit In AP

TATA group would set up an aerospace and precision engineering unit near Hyderabad in Andhra Paradesh. The state had also tried to lure TATA for the relocation of Nano car plant. But Gujarat chief minister Narendra Modi successfully captured the s...

We asked Jet to review layoffs: Patel

Welcoming the reinstatement of sacked Jet employees Civil Aviation Minister Praful Patel on Friday said that he had asked Naresh Goyal, Jet Airways chief, to sort out all issues and reinstate all those who were fired.



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