Latest Updates On Finance & Business News of India |
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| Tata Teleservices demands govt. to process 3 GSM licences |
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 Tata Teleservices has asked the government to process its applications for GSM licences and spectrum in Assam, North East and J&K circles.
However, the company has maintained that there is no change in its plans to spend $2 billion in capital expenditure over the next two years. At present, Tata Teleservices, India`s fifth-largest operator, uses CDMA technology to provide mobile services. It accounts for about 34 million of the country`s 375.74 million mobile users as on February-e... |
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| Oracle`s acquisition of Sun Microsystems to create $1.5 bn entity in India |
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 Oracle`s acquisition of Sun Microsystems is going to create a $1.5-billion (Rs 7,474 crore) entity in India.
Oracle will compete more effectively with arch rival IBM by bundling its business software with Sun`s computer servers, and offering them at competitive rates to customers in the country.
This deal will help Oracle address newer segments of India`s $34 billion market (Forrester estimate) for IT products and services, and increase its share of the overall enterpri... |
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| PowerGrid to invest about 20,000 crore in UMPPs by 2012 |
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 PowerGrid Corp has planned to invest up to Rs 20,000 crore during the 11th Five-Year Plan period to offer transmission system to four ultra mega power projects of 4,000 MW each.
It is a part of PGCIL`s total investment of Rs 55,000 crore for setting new transmission lines for various projects that includes four UMPPs and others to be commissioned, in the 12th plan period (2007-12).
PGCIL Director (Projects) S Majumdar said, "We`ll be spending a total of 16,000-20,000 cr... |
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| Tech Mahindra may acquire up to 70% in Satyam |
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 Tech Mahindra, the bid winner for 31 per cent equity in Satyam Computer, can buy up to 70 per cent stake in Satyam Computer Services Ltd, the scam-hit IT company through an open offer but cannot take the firm private.
The `share subscription agreement` between two parties caps Tech Mahindra`s maximum holding in Satyam at 70 per cent through a preferential allotment of 31 per cent equity and a consequent public offer, and also bars the new owner from delisting Satyam shares in the US... |
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| World Gold Council says Gold is most secure investment |
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 According to the Gold Council (WGC), gold continues to remain the most secure investment even with the current economic slowdown and dwindling returns on investment from other options.
According to the WGC data, gold has provided an annual average return of 26 per cent over the past decade (between 1999 and 2008). Gold has always provided positive returns every year over the decade with the average gold price having grown every year.
Gold has provided a positive return... |
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| SBI agrees to offer loan of Rs 10,000 crore to Vodafone |
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 State Bank of India, the largest lender of the country has agreed to lend Vodafone-Essar, the joint venture between UK`s Vodafone and Essar, Rs 10,000 crore to finance the company`s entry into 3G (third generation) telecom services and expansion of its broadband operations.
An interest rate of 13.25 per cent is applicable for the first two years in this five-year loan. Thereafter, it will be re-adjusted on the basis of the average prime lending rate of four public sector banks SBI,... |
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| Prices of food items increases although inflation falls to 30-yr low |
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 According to the latest government data, the wholesale price-based inflation rate has dropped a 30-year low of 0.18% during the week ended April 4 but the prices of vegetables and other daily food items continued to rise.
Food prices became costlier than they were a year ago. General food items cost 1.2% more than the preceding week and 7.29% higher than their rates prevailing a year ago. Vegetables turned dearer by almost 25% and oil cakes by 2.4% on a weekly basis. A year-on-year ... |
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| Global meltdown forces Arcelor-Mittal to postpone India steel projects |
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 Arcelor-Mittal, the steel company has been forced to postpone their steel projects estimated at $20-25 billion in Orissa and Jharkhand by two years due to global meltdown and falling demand, informed the India head of the company on Wednesday.
Speaking to the media, Vijay Bhatnagar, the chief of India operations stated, "The top reason is economic downturn." He was speaking on the sidelines of a steel industry seminar organised by the Federation of Indian Chambers of Commerce and I... |
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| TRAI receives notice from TDSAT on termination charges |
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 India`s Telecom Disputes Settlement and Appellate Tribunal (TDSAT) has issued a notice to Telecommunications Regulatory Authority of India (TRAI) over reducing mobile termination charges to 20 paise per minute.
TDSAT has issued the notice over TRAI`s recent regulation cutting mobile termination charges to 20 paise per minute. Termination charge is money paid by an operator to another on whose network the call ends.
TDSAT asked TRAI to reply by 24 April while admitting ... |
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| Polaris to spend Rs 100 crore in new centre |
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 Polaris Software Lab, a Chennai-based financial technology company, is planning to reinforce its insurance portfolio business and hence it has launched a centre of excellence for insurance near Chennai with an investment of around Rs 100 crore.
The company aims to develop new solutions and to service company`s insurance clients.
Polaris is expecting insurance business which was around Rs 95 crore last year would touch Rs 250 crore in the next three years.
W... |
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