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Silver tumbles 6 per cent in futures trade
Published on 26 Sep, 2011 at 7:04 in Finance | Viewed 44 views times | No Comments
New Delhi: Silver tanked by Rs. 3,224, or 6 per cent in futures trade on Monday as speculators engaged in reducing their positions after prices of the precious metal tumbled by over 8 per cent in the Asian region.
At the Multi Commodity Exchange, silver for delivery in December plunged by Rs. 3,224, or 6 per cent, to Rs. 50.502 per kg, with a business turnover of 203 lots.
Similarly, the…
Pranab Mukherjee warns about currency war
Published on 23 Sep, 2011 at 6:25 in Finance | Viewed 86 views times | No Comments
Washington: Indian Finance Minister Pranab Mukherjee warned the international community of the danger of a currency war if the ongoing economic crisis deepens.
Such a currency war can be avoided through dialogue and not through competitive devaluations. Mukherjee stressed at a crowded press conference of finance ministers of BRICS nations Brazil, Russia, India, China and South Africa at the headquarters of…
Jet Airways Introduces Boeing 737-800 Aircraft
Published on 21 Sep, 2011 at 5:13 in Finance | Viewed 95 views times | No Comments
Mumbai: Jet Airways, who is India’s largest airliner by market share, today said it had inducted its first next generation Boeing 737-800 aircraft.
Jet Airways Chief Commercial Officer ‘Sudheer Raghavan’ stated that, “The Boeing 737 has been an essential part of our product offering in the past and we selected the next generation Boeing 737-800 because of its high degree of…
Gold prices bounce back in futures trade
Published on 20 Sep, 2011 at 1:36 in Finance | Viewed 44 views times | No Comments
New Delhi: Gold recovered by 1.46 per cent to Rs. 28,444 per 10 grams in futures trade on September 19, tracking a better trend overseas as euro zone debt woes boosted the appeal of the precious metal as an alternative asset.
At the Multi Commodity Exchange, gold for delivery in December moved up by Rs. 408, or 1.46 per cent, to Rs. 28,444 per 10 grams, with a trading volume…
BSNL likely to scrap 15 million line GSM tender
Published on 19 Sep, 2011 at 1:21 in Finance | Viewed 60 views times | No Comments
New Delhi: State-run telco BSNL is likely to write-off its 15 million line GSM tender due to poor response from private vendors to the estimated Rs. 5,000-6,000 crore equipment supply contract.
“The 15 million GSM tender floated by state-run BSNL is likely to be scrapped as only two or three private vendors have shown interest in the e-tender process,” a Department of Telecom official said.
“One of the reasons for the…
Infosys diversifying into China
Published on 16 Sep, 2011 at 3:36 in Finance | Viewed 94 views times | No Comments
Dalian: The grim economic situation in Europe has become a big concern for Infosys Ltd, India’s second-largest software services exporter. Therefore, it is dynamically diversifying into other fast-growing markets such as China, a top executive said.
While the US and Europe markets are too big to ignore, Infosys, which competes bigger rival Tata Consultancy Services (TCS) and smaller Wipro Ltd, is…
ANZ bank opens its first branch in Mumbai
Published on 15 Sep, 2011 at 6:58 in Finance | Viewed 439 views times | No Comments
Mumbai: The Australia and New Zealand Banking Group recently opened its first branch in the Indian city of Mumbai. The banking group said that it will open between 25 and 30 branches over the next three to four years in India.
“We see India as one of the most critical markets for us in the Asia-Pacific region from where we expect…
India allows foreigners to invest in domestic mutual funds
Published on 10 Aug, 2011 at 12:18 in Finance | Viewed 72 views times | No Comments
Mumbai: India al lowed foreign investors to participate in local mutual funds, allowing them to invest up to $10 billion and expanding the capital flow channels into equities markets.
In separate statements, the Reserve Bank of India and the capital markets regulator Securities and Exchange Board of India, said that non-resident investors who met SEBI’s know-your-customer requirements would also be allowed to invest in debt schemes run by mutual funds…
Apple has more cash than US government today
Published on 29 Jul, 2011 at 12:40 in Finance | Viewed 98 views times | No Comments
New York : As of today, Apple boss Steve Jobs is richer than Uncle Sam.
While the world’s most powerful government has just $73.76 billion in its reserves, the world’s top technology company has a neat cash pile of $75.87 billion.
The US Treasury Department warned that it has now only this much operating budget as Republicans and Democrats fight over raising the nation’s debt ceiling. With only that much reserve…
Amway India eyes Rs.25 billion business by 2012
Published on 21 Jul, 2011 at 5:33 in Finance | Viewed 140 views times | No Comments
Agartala: Consumer and home products direct marketing company Amway India, a wholly-owned subsidiary of the US-based Amway Corp, expects to do business worth Rs.25 billion in India by 2012, an official said here Monday.
“After starting commercial operations in 1998 with a business of Rs.9.1 million, Amway has invested more than Rs.2 billion in India,” company vice-president (East) Diptarag Bhattacharjee told reporters.
Amway India posted a turnover of Rs.1,790 crore last…
