Monday, August 31, 2009

NEWS @ 31-08-2009

The Shanghai Composite Index closed at 2,667.745 points, tumbling 21.8 per cent for August after recording seven consecutive monthly gains. ...

While big institutions such as Citi, Bank of America, and Morgan Stanley have grabbed headlines and billions in bailout money, 81 small banks have shuttered their doors so far this year. Despite a rebound in the markets ...

FII inflow tops $8 bn in 2009

With FIIs holding 16% of India's biggest 500 companies, market experts believe FII holding may rival the 19.1% peak in 2007 as third-largest Asian economy continues to grow at decent pace ...


Indian Rupee Has Biggest Monthly Slide Since February on Stocks

India’s rupee completed its worst month since February as Asian equity losses fueled concern global funds will pull money out of the region ...


Indian economy continues to grow

India's economy grew 6.1% in the second three months of the year compared with the same period last year, which was slightly better than had been expected ...


With food price inflation in double digits, the Reserve Bank is faced with the daunting task of keeping inflation in check, the bank K C Chakrabarty, deputy governor said ...

Data from two Indian depositories—NSDL and CDSL—show that on an average, 190,000 new accounts have been opened every month, net of closures, between June and 22 August ...

Gush of oil is music to Indian ears
As Manmohan Singh, the Indian prime minister, was invited to turn “the wheel of fortune” that would allow pumping to start at the Mangala oilfield in Rajasthan on Saturday, the academy award-winning song ...

As Cairn India [ Get Quote ] began to pump crude oil on Monday from its Mangala oilfield, there was a flicker of hope for Rajasthan which has for long demanded a refinery at Barmer to process the crude oil ...

Petroleum Minister Murli Deora has sought reconstitution of an empowered group of ministers to decide on allocation of gas from RIL-operated KG-D6 fields to new customers ...

Reliance Industries reluctant to share records: Auditor

"The understanding of our audit team was that during the meeting the contractor's representative expressed considerable reluctance to provide access to records for the previous years till 2006-07," the letter said ...


RIL denies gas hoarding charges

Mukesh Ambani-controlled Reliance Industries (RIL) has refuted Anil Ambani Group’s allegation that it was producing less gas from K-G D6 to create an ‘artificial scarcity’ which somehow is going to result in ‘windfall profits’ to RIL ...

With improvement in the stock market, the government is looking at divesting another 10 per cent stake in the largest power generation company NTPC, which may also raise fresh equity to part finance its expansion ...

India’s largest dual technology company, Reliance Communications (RComm) has been active in the ABC (astrology, bollywood and cricket) value added services offerings. With 3G auctions around the corner ...

Currently, Suzlon procures only 40 per cent of its gear box requirements from Hansen, that too only from last year. A majority of its supplies are from the German gearbox maker Winenergy AG, which has ...

The government will invite bids by this year-end for three mega projects worth around Rs 14,500 crore in the road sector, Road Transport and Highways Minister Kamal Nath said today ...

Software major Infosys [ Get Quote ], which has a robust cash chest for sure and made no secret of its intention to buy out companies with a strategic fit, is finding it difficult to acquire right firms at the right price ...

"Demand is picking up in the West and the trade fall in Europe and the US has bottomed out," the Tata Group chairman said, even while announcing that the steel major's consolidated loss has gone up sharply ...

Insurance sector regulator IRDA (Insurance Regulatory and Development Authority) on Monday said it is likely to come out with initial public offer guidelines by October ...

Both Bharati Shipyard Ltd (BSL) and ABG Shipyard Ltd (ABG), two leading private shipyards in the country, seem to be ready to stretch themselves to any extent to own Great Offshore, a strategic fit ...

The IL&FS group will take management control of Maytas Infra and acquire an additional 22.51% stake in line with a government order, the two companies said in separate statements on Monday ...

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