Financial services company Morgan Stanley plans high-level management changes, which includes finance chief Colm Kelleher and veteran banker Paul Taubman taking charge of the company"s institutional securities unit, says a media report. rent motorcycle in Barcelona
The Institute of Management Technology (IMT) plans to open its third campus in Ghaziabad by the end of this year to cater to the needs of working professionals by offering them distance learning modules.
Car maker Toyota Kirloskar Motor today said it has entered into a memorandum of understanding with the country"s largest lender, State Bank of India (SBI), for vehicle finance.
- Just imagine - Past speaking - Cool head in Eden - Would be nice - Epis-too-late - Comic history
The Sensex opened weak this morning following subdued cues from its Asian peers. The Sensex opened at 16,827 and is now down 61 points at 16,798.
Forty years ago, man landed on the Moon. Also in 1969, the Vietnam war ground on, high hippydom ruled Western youth culture, feminism was in its so-called second wave, and the collectivist kibbutz movement in Israel was at the peak of its post-war efficacy. In 1969, Ursula Le Guin was just gaining renown as a writer. In that year she turned 40, and published her best-known science fiction novel. In 2009 the author turned 80 and her book, still in print and now a classic, turned 40.
The race to succeed Kenneth Lewis as the Bank of America Corp chief executive has narrowed to two internal candidates, though the board is still looking for a new face for the nation"s largest bank by assets, says a media report.
The takeout financing scheme of the India Infrastructure Finance Co (IIFCL) has raised eyebrows. The Planning Commission has expressed concerns about the proposed scheme where the state-owned lending institution will take over some infrastructure loans of banks on its books.
Business Standard / New Delhi January 14, 2010, 0:49 IST
Movement on this seems stuck and linked initiative to defreeze progress needed, say analysts.
Ahead of the next round of talks on a bilateral trade treaty with India, the European Union (EU) today said it was keen that the comprehensive pact included government procurement agreement.
Martin Feldstein / December 5, 2009, 0:59 IST
A top diplomat of the Bush Administration who was its point man for negotiations on Indo-US nuclear deal, has accused President Barack Obama of being less attentive to the partnership between the two countries, saying the relationship has been stalled in some critical issues.
The outlook for global economy has turned positive this year and the worst is over even though the road ahead is full of challenges, Wipro Chairman and a co-Chair of the World Economic Forum Azim Premji has said.
Allows states to buy renewable energy certificates.
Reliance Big TV (RBTV), the direct-to-home (DTH) arm of Reliance Communications targets DTH value-added services (VAS) revenues of Rs 100-crore in the next 5 years period, a top company official said.
Sales of commercial vehicles (CVs), which were on a decline for over a year, are showing signs of a recovery. Two out of the three CV makers reported an increase in sales last month.
The country"s largest sugar producer Bajaj Hindusthan today posted a net profit of Rs 69.08 crore for the quarter ended September 30, and has announced 70 per cent dividend for the fiscal year 2009.
The government"s disinvestment programme made a muted re-start with the Cabinet Committee on Economic Affairs (CCEA) approving the part-sale of its stake in two power companies — NTPC and Satluj Jal Vidyut Nigam (SJVNL) — but postponing a decision on the overall disinvestment policy.
The government today said employment rose by about 5 lakhs in the second quarter after falling by 1.31 lakhs in the first quarter this fiscal. "... The employment has increased by about 5 lakhs during July-September 2009 over June 2009," Minister of State for Finance Namo Narain Meena told the Rajya Sabha in a written reply.
Fifty-seven per cent of workers in the corporate sector in India reported an increase in stress over the last two years, a survey has said. Of over 11,000 corporates across 13 countries, 58 per cent companies worldwide experienced an appreciable rise in their workplace stress over the last two years,according to a survey by workplace solutions provider Regus plc.
On the back of 14 per cent growth in sales in the first quarter of financial year 2009-10, two-wheeler makers have reported 24 per cent growth in sales in July. The segment comprises motorcycles and scooters. The growth is a result of low base as annual sales growth last year was a mere 3 per cent.
Indian engineering and management institutes, which have set up bases in Dubai, are facing a 13-60 per cent dip in admissions due to the economic crisis in the city, which is one of the seven emirates of the United Arab Emirates (UAE).
Three indians have been nominated at the grammys this year. Could this lead to an All-Indian event in the years to come?
Sensex ends up 35pts
Big Bazaar, the hypermarket of Pantaloon Retail, has come out with a breakfast cereal range under its private label, Tasty Treat. Big Bazaar already sells noodles, pasta, vermicelli, soups, namkeens, chips, toast, khari, papads, jams, pickles, carbonated drinks, ketchup and fruit beverages under the brand. It has now added breakfast cereals to the range.
US President Barack Obama has said Pakistan must cooperate more fully with the United States to go after and wipe out Al-Qaeda.
Airlines this year would lose $11 billion due to rising fuel prices and exceptionally weak yields, the International Air Transport Association has said.
Anil Ambani group company Reliance Natural Resources Ltd (RNRL) has asked the Supreme Court to dismiss the government’s special leave petition (SLP) on the Ambani gas dispute, saying it had no legal standing to seek any orders and could, at best, only make submissions.
Health care workers lined up to be inoculated against swine flu as the United States began a massive campaign to administer 250 million vaccinations by year"s end.
Swine flu claimed eight more lives across the country raising the total number of deaths to 359 till now.
The country"s biggest two-wheeler maker Hero Honda Motors Ltd today reported 32 per cent jump in November sales at 3,81,378 units as against 2,89,426 units in the same month last year.
Hero Group-promoted auto components maker Sunbeam Auto today said its revenues for this fiscal will take a hit owing to losses of about Rs 65 crore, a consequence of the recent 52-day-long strike at Gurgaon facility.
After a promising start, key indices first witnessed an upside breakout, and then crashed due to derivatives expiry and the Dubai debt scare.
Industry body FICCI today sought more fiscal sops in the 2010-11 budget to prop up the economy.
Barun Roy / New Delhi December 17, 2009, 0:59 IST
Cement-maker, Ambuja Cements, today said that its cement production in October stood at 14.98 lakh tonnes as against 14.51 lakh tonnes in the year-ago period.
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Indian banks might meet the Reserve Bank of India’s projection of an 18 per cent growth in credit, K V Kamath, chairman of the country’s second largest lender ICICI Bank said in Mumbai today.
General Motors India today said its proposed mini car, to be launched by this year end, would be exported after meeting the domestic demand.
Subir Roy / New Delhi November 13, 2009, 0:03 IST
Car maker Skoda Auto India today reported a 183 per cent jump in its total sales at 1,425 units during November this year as against 504 units in the same month last year.
Terming as "most immature and irresponsible" the UPA government"s handling of the Telangana problem, BJP today said the Centre "should apply its mind" to solve the problem.
Kirtika Suneja / New Delhi December 10, 2009, 0:11 IST
A month after the Securities and Exchange Board of India (Sebi) announced guidelines for SME exchanges, the National Stock Exchange (NSE) has sought feedback from market participants. It recently met merchant bankers and brokers to discuss the broad guidelines announced by Sebi.
In a stern message to Pakistan, the United States has asked it to shed its policy of "using insurgents" like LeT as a strategic tool and warned that if it cannot deliver against terrorists, the US may be impelled to use "any means" at its disposal.
The promoters of DLF Ltd, the country’s largest real estate developer, have said hedge fund DE Shaw may retain a partial stake in DLF Assets Ltd (DAL) as the fund is seeing an improved opportunity in the commercial realty market.
Industry clusters in Tamil Nadu have sought ‘town of excellence’ status to their respective towns.
Andhra Pradesh chief minister K Roasiah said the central and state governments had a task to strike a balance between growth and inflation. The three fiscal stimulus packages announced by the central government infused liquidity for maintaining economic growth.
Commercial vechicle manufacturer Ashok Leyland (AL) expects its overall sales to drop by 3-5 per cent in the second half of the year, in case the poor monsoons this year hits the economy hard. The company, at the same time, is bullish on its bus segment on the back of the impetus provided by the Jawaharlal Nehru National Urban Renewal Mission(JNNURM) order book.
Mumbai-based auto maker Tata Motors today stated that its wholly-owned subsidiary Tata Motors European Technical Centre plc (TMETC) has received a loan of £10 million (Rs 78.81 crore) from the UK government for its £25 million (Rs 197 crore) electric car programme.
Auto major Tata Motors today said its wholly-owned European subsidiary, Tata Motors European Technical Centre, has got a loan of 10 million pounds (Rs 78 crore) from the UK government for its Rs 195 crore electric car project.
President Barack Obama declared swine flu a national emergency, the White House announced in a statement yesterday.
Gold futures prices shot up to a record high of Rs 18,167 per 10 gram for April delivery at the MCX platform today, tracking firm global markets amid weak dollar.
German luxury car maker Audi today said it will start assembling its Sports Utility Vehicle (SUV) Q5 in India by March next year and is expecting its sales to grow by about 70 per cent in 2009.
Tata Sons, the holding company of the Tata Group firms, has won a case at the World Intellectual Property Organisation against the travel portal, MakeMyTrip, which has been using the term "tata" in one of its website, "oktatabyebye.Com".
Having secured the much-needed funds for Jaguar Land Rover (JLR) without the government help, its Indian parent Tatas are now tightening their management control on the carmaker, but are unhappy over the way their request for help was handled by the UK authorities, a report said today.
A team of two researchers — an ayurvedic physician and a retired senior scientist of the Central Food Technological Research Institute — have discovered some beneficial properties of cow urine after about 18 months of research in a private analytical laboratory in Mysore. Meanwhile, a homeopathy practitioner, has claimed that it could help cure the influence caused by H1N1 virus too.
Sreelatha Menon / New Delhi June 28, 2009, 0:14 IST
Dell Services, the new entrant into the information technology (IT) services segment (after its acquiring Perot Systems), is gearing its focus on the growing small and medium enterprises (SMEs) market.
India’s largest IT firm Tata Consultancy Services (TCS), is eyeing six-seven deals worth over $100 million in the Latin American region.
The country"s largest software exporter Tata Consultancy Services (TCS) today announced that trainees joining it this fiscal would not be eligible for variable pay of about Rs 5,000 a month in the first six months.
The ‘Jai Ho’ trust by the ‘Slumdog Millionaire’ filmmakers has hired a social worker to ensure the welfare of Rubina Ali Qureshi after her father allegedly tried to sell her for nearly USD 300,000.
Brushing aside reports that India is moving away from Russia, President Pratibha Patil has said New Delhi"s ties with other countries would not be at the cost of Moscow.
Russian President Dmitry Medvedev today lauded India"s "historic successes" in socio-economic development and said that ties with New Delhi are Moscow"s "unconditional foreign policy priority".
The Reserve Bank of India (RBI) today said it would reassess its soft policy stance amid food inflation soaring past 17 per cent even as the the PM"s advisory panel and others called for tightening money supply.
Business Standard / New Delhi December 17, 2009, 0:58 IST
Even as work on border road construction in Jammu and Kashmir was stopped after Chinese objection, Arunachal Chief Minister Doorjee Khandu has asserted that his government will not succumb to any such pressure.
Strong majorities around the world back action to fight climate change, with enthusiasm especially strong in developing nations including India, a World Bank survey said today.
BSM Team / Mumbai July 18, 2009, 0:24 IST
As per our company’s policy, the officers in our grade and above are provided with car, for their official and personal use. The eligible officers are given a choice to select model and colour of car, from the makes identified for their grade. The available car models (only petrol) are: Hyundai Verna Xi, Ford Fiesta ZXi, Maruti SX4 VXi and Chevrolet Aveo 1.4. We are requested to choose only one of the vehicles mentioned above. After the expiry of five years, the officer can buy the car originally provided at five per cent of the purchase cost. What would you advise?
The country"s largest car maker, Maruti Suzuki India Ltd, today reported a 33.36 per cent jump in sales at 78,074 units in July.
Pharma firm Orchid Chemicals & Pharmaceuticals today said it has received the final Abbreviated New Drug Application (ANDA) approval for its Zaleplon capsules from the US Food and Drug Administration, in a filing to the Bombay Stock Exchange(BSE).
Orchid Chemicals gained nearly 4% at Rs 105, after touching a high of Rs 106 during the day. Around 862,500 shares were traded at the counter against its two-week average of one million shares.
Drug maker Glenmark Pharmaceuticals today said its subsidiary Glenmark Generics has filed the draft prospectus with marker regulator Securities and Exchange Board of India (SebiI) for an initial public offer (IPO).
Maruti Suzuki, the country’s largest manufacturer of cars, is also quite cash-healthy, markedly so in comparison to many of its competitors.
People are chanting for the ‘God’ out there. They think Schumi can return to the paddock, wear a slightly larger racing suit, jump into Massa’s Ferrari and start winning races. Whatever the outcome may be, the return of The Champion is the best thing that could have happened to Formula One this year after the Brawn 1-2 at Albert Park.
Bayerische Motoren Werke AG will quit Formula One in November, becoming the second carmaker in less than a year to withdraw from the auto racing series amid slumping sales.
The Centre, in an attempt to end the imbroglio over Telangana, today convened a meeting here on January 5 of the eight recognised political parties in Andhra Pradesh for a discussion on the issue, a move welcomed by a grouping of all parties spearheading the statehood stir.
Ajai Shukla / New Delhi December 29, 2009, 0:19 IST
Vijay Mallya-controlled United Spirits Ltd (USL) has reiterated its plans to deleverage its balance sheet by the end of October this year. USL has a debt of around Rs 6,000 crore — a leverage of nearly 2.5 times.
Force India will give Karun Chandhok an opportunity to prove his F1 mettle but team owner Vijay Mallya is bemused by the romanticism that the Chennai driver deserves a seat in the outfit just because he is an Indian.
Prime Minister Manmohan Singh has assured Sri Lankan President Mahinda Rajapaksa of all support for resettlement of the Tamil civilians, displaced due to fighting between security forces and the LTTE in the north.
Under attack from BJP for the outcome of his meeting with his Pakistani counterpart Yousuf Raza Gilani, Prime Minister Manmohan Singh today said the starting point for "any meaningful dialogue" will depend on actions by Islamabad to end cross-border terror and hoped there would be "forward movement" in the coming months.
Workers of telecom major Bharat Sanchar Nigam (BSNL) today said they would observe "Anti-Disinvestment Day" on July 22 against the government"s proposal to sell its shareholding in the company.
Recently L N Mittal, the world’s top steel maker, announced in London that he may shift his 12-million tonne steel project out of Orissa because of the long delay in land acquisition and local opposition to the project.
Real estate firm Parsvnath Developers today reported a net profit of Rs 13.81 crore for the first quarter ended June 30, a 81 per cent decline over the corresponding period a year ago. The company had posted a net profit of Rs 73.96 crore in the same period last fiscal.
Gold prices surged by Rs 100 to Rs 17,100 per ten gram in the bullion market here today on sustained buying by stockists and jewellers to meet the marriage season demand and as investors increasingly are moving funds from the dollar into higher-yielding assets.
The Sensex is quoting at 16,951, (higher by 85 points). After having opened at 16,879, it has touched a high of 16,979 anmd a low of 16,879 thus far.
Anil Dhirubhai Ambani Group (ADAG) company, Reliance Communications, today said its capex would decline significantly starting this year and continue on a downward trend in the future.
State-owned oil companies will pay Rs 27 a litre, or 25 per cent higher from existing level, for buying ethanol from sugar mills for doping petrol.
Sunil Jain / New Delhi January 01, 2010, 0:35 IST
Telecom service provider Tata Communications today said it has launched its new mobile video telephony service for mobile operators and international carrier customers.
The government today said that natural gas from Reliance Industries" Krishna-Godavari basin fields will help cut fertiliser subsidy by about Rs 3,000 crore in 2009-10 fiscal.
The Sensex opened marginally (24 points) lower at 17,204 amid weak cues from the global markets. The index soon dropped to a low of 17,111, and is now down 47 points at 17,181.
IT solutions provider NIIT Technologies today reported a 12 per cent fall in its profit after tax to Rs 32.1 crore for the second quarter ended September, due to volatility in currency movement.
The US markets had a weak closing.
The US markets had an unspectacular day of trade. Dow Jones closed at 10,426.30, lower by 11.11 points or 0.11%, Nasdaq ended at 2193.14, weaker by 10.64 points or 0.48%, and S&P shut at 1109.8, down 0.52 points or 0.05%.
The US markets have ended on a positive note.
The BJP leadership fears the Congress party is likely to try and topple the Yeddyurappa government in Karnataka. With former chief minister and Janata Dal (Secular) leader H D Kumaraswamy knocking at the Congress door, the Karnataka Congress is waiting for the signal from the party high command to begin Operation Topple after the Budget session is over. Part of the plan, it appears, is to put pressure on business houses close to the Yeddyurappa government to distance themselves from the government.
The Sensex is at its day"s low of 14,999 - down 411 points. The Nifty is down 129 points at 4,459.
Garments maker Provogue India today said it will buy back shares worth Rs 50 crore from its shareholders through open market route.
Continuing their association with the Indian Institute of Management, Ahmedabad (IIM-A), the institute"s alumni picked up students for the ongoing summer placements through their companies. The alumni"s firms that returned to the campus included Edelweiss Capital and Feedback Ventures.
At the upper price band of Rs 212, it will be the most valued listed media company in India.
Internet company AOL today said it is planning to reduce one-third of its workforce, as part of its cost cutting initiative.
PM puts onus on US, China.
Nasdaq-listed information technology firm Cognizant is set to acquire UBS India Service Centre (UBS ISC), a captive (offshoring centre) of the world’s leading financial firm, UBS, for $75 million (around Rs 350 crore).
It’s never easy to be in public domain. Members of Parliament (MP) cutting across party lines have realised that. Madhusudan Mistry, a Congress MP from Gujarat, gave his mobile number to the voters of his constituency. “Even in the middle of the night, people, evidently drunk, used to call me to solve their petty personal problems,” Mistry recalls.
US markets ended flat for the third straight day. The Dow Jones slipped 12 points to 10,572. The Nasdaq ended flat at 2,309.
Sri Lankan Tamil-origin billionaire Raj Rajaratnam has pleaded not guilty before a court here to running an insider trading scam that allegedly racked upto $21 million in profits, the biggest such case in the US.
John Paulson disclosed that his hedge-fund group acquired 300 million shares of Citigroup during the third quarter, while selling its entire stake of Goldman Sachs Group Inc.
15 villages already on the traveller’s itinerary; 135 more on the way.
Business Standard / New Delhi August 26, 2009, 0:58 IST
Equity brokerage volume jumps 66% in April-June while non-broking income dips.
Insurance companies have asked the government to shift to the new tax regime under the Direct Tax Code only for those policies sold after the proposed Code came into effect from April 2011.
Crisil’s IER initiative should benefit investors in the long-run provided the service is available on an ongoing basis
Irda nod to policies with flexible premium, sum assured and tenure.
Trashing the contention that the Pokhran-II nuclear tests in 1998 were a failure, India’s top scientists today said all objectives had been achieved and the country now has the deterrence capability of up to 200 kilotons.
The advance tax collection from India Inc rose 20 per cent during the first nine months of the current fiscal compared to the same period last year, with automobiles, consumer goods and metals leading the pack.
The All India Regional Rural Bank Employees Association wants regional rural banks to have a greater autonomy in opening branches in the rural areas, and hence in the process of financial inclusion.
The Orissa State Pollution Control Board (OSPCB) has issued direction to thirteen Railway sidings in Keonjhar district for causing pollution.
Power Minister Sushil Kumar Shinde today said that besides a goal of thermal energy generation capacity of 78,000 Mw, an additional 5,000 Mw will be produced during the current Five-Year plan (2007-12).
India suffered loss of export orders worth Rs 8,982 crore in nine months since August 2008, on account of global recession, Minister of State of Commerce and Industry Jyotiraditya M Scindia informed Rajya Sabha today.
The Indian Premier League (IPL) Twenty20 cricket tournament is expected to see renewed high-stakes bidding with two new teams up for grabs from the fourth season starting 2011.
Cricket fans were not the only ones left disappointed by the cancellation of the India-Australia one-day international (ODI) match today that was to be played at the DY Patil Stadium in Navi Mumbai. Public sector insurer Oriental Insurance will have to pick up the tab for claims worth Rs 6.75 crore.
Investments in mutual fund schemes saw a sharp 68 per cent decline in November to over Rs 45,100 crore over the previous month, as investors preferred to stay away from equity market.
Indian private sector lender Kotak Mahindra Bank is looking at acquisitions in the coming months in India, says a media report.
IT firm Wipro Technologies today said it will hire 5,000 people in the next couple of months and is looking at a fresh recruitment strategy of taking in graduates from non-engineering institutes.
Mukesh Ambani-run Reliance Industries (RIL) today said it will expand its Jamnagar petrochemical complex by adding 2 million tonnes (MT) per year of olefins and matching downstream capacities.
Delhi-based businessman Sanjay Dalmia today approached the Bombay High Court seeking permission to go abroad but a Division Bench asked him to first appear before Economic Offences Wing (EOW) here in connection with a cheating case filed by Indiabulls Financial Service.
Sanjay Dalmia-owned Gujarat Heavy Chemicals (GHCL), a major producer of soda ash, has postponed its board meeting scheduled for today.
Essar Oil is on track to complete expansion of its facility at Vadinar refinery in Gujarat to 16 million tonnes by December 2010, brokerage firm IDFC-SSKI said in its report on the firm while putting a price target of Rs 194 on its stock.
Barclays today appointed Suvrat Saigal as Consumer Banking Director, Global retail and commercial banking (GRCB) India.
India today set the stage for global car giants Toyota, Volkswagen and Honda to unveil to the world their strategy and models for the high-growth small-car market. The platform was the 10th Auto Expo being held in the national capital.
The stock extended gains and touched a high of Rs 1,239. It finally ended with a gain of 3.5% at Rs 1,212. Over 77,090 shares changed hands at the counter today.
Gates-food: When Bill Gates was a young man, he wanted to turn his taste for software into a successful business. The Microsoft founder got rich beyond any technologist’s dreams. But Gates has changed over the years. His latest idea isn’t quite to get poor through low technology, but he will be giving away money to help people engaged in the simplest of economic activities: subsistence agriculture.
UK banks: Nine months is a long time in UK banking. When Royal Bank of Scotland and Lloyds Banking Group signed up for state insurance on a combined £585 billion of their suspect loans in February, each was assumed to be a basket case. Now the full details of the insurance scheme and enforced state aid disposals are public, it"s clear that RBS is in the worse shape. Both banks are trying to wriggle out of the state’s embrace, but RBS hasn’t got very far. Lloyds, in contrast, is well on the way to independence.
The West Bengal government has not received any compensation bill from Tata Motors for the land at Singur given for its small car project, although group chairman Ratan Tata has expressed willingness to return the land to the government if compensated for its investment.
The industrial sector in Chhattisgarh government termed 2009 as good while the investors said it was bad.