Investors, at a recent property exhibition concluded by magicbricks.com, were seen selling flats at 30 per cent discount to the market rate compared with the builders' offer of 15-20 per cent, according to reports. Investors normally comprise about 30 per cent of the property markets.
Roche expects to start selling Actemra by April 2009, company sources said. India will be the second country to launch the drug, Japan being the first. The Indian drug regulator Drug Controller General of India usually approves a new drug marketing application based on safety and efficacy data cleared by regulators in the US, EU and other developed countries.
Since Thursday, several carriers, mainly international, have cancelled their flights in and out of Mumbai due to sparse load factor or the inability of the crew to reach the airport. Amongst the domestic carriers, Kingfisher Airlines combined around eight flights. Air India also clubbed some of its flights in the domestic routes. Jet Airways, JetLite, IndiGo and SpiceJet did not cancel any flight.
With store rentals dropping as much as 35 per cent in the last one year, retailers say opening stores in certain locations has become profitable. As a result, some retailers plan to roll out their bigger format stores and others are booking retail spaces that will come up in two years at a much lower cost.
Yes Bank plans 100 bps cut, other private players to wait; public sector may move first. The bank, which currently disburses loans to corporate clients at around 17 per cent, may also pare deposit rates by 50 basis points in December.
Infosys had bid at 600 pence a share for the UK company. Infosys will get the one per cent inducement fee that Axon has to pay to the party unable to close the deal.
Most realtors are already advertising cash discounts of 5-10 per cent on upfront payment and buyers can get up to 25 per cent discount if they book properties and are willing to wait for two to three years until possession. According to consultants, developers may even give 15-20 per cent discount on the price as they are eager to clear inventories.
Anxious executives from 150 Greater Noida factories met on Wednesday to take stock of the simmering labour unrest in the sprawling industrial township in the outskirts of Delhi after Graziano Transmissioni Managing Director Lalit Kumar Chaudhary was killed by a mob of retrenched workers on Monday. Privately, many of them said it would now become hard to downsize in the impending industrial slowdown.
The figure is expected to rise to over Rs 4,600 crore (Rs 46 billion) by 2010 - a compounded annual growth rate of 44 per cent. Retail has been one of the largest growth sectors for all the top IT firms. For instance, Tata Consultancy Services, Infosys Technologies, Wipro Technologies and Satyam Computer Services saw their retail business grow by 33.6, 45.3, 38.5 and 117 per cent respectively on a year-on-year basis.
Delhi and Mumbai alone account for a fifth of the country's total surplus income. The country's top 20 cities, including both Delhi and Mumbai, account for just 10 per cent of the country's population but 20 per cent of its savings, 30 per cent of its income and as much as 60 per cent of its surplus income
The recent pullout by ICICI Venture and Citigroup Venture from a three-year-old drug discovery partnership with Dr Reddy's Laboratories points to angel investors' growing aversion to risk in pharma and biotech firms, say experts.
Bharat Petroleum Corporation (BPCL), the country's second largest oil marketing company, plans to diversify into bottled water and direct to home (DTH) services in an attempt to boost its profits.
India's premier technical institute, IIT-Bombay's golden jubilee celebrations -- to be held in New York from July 18 to 20 this year -- have stirred a hornet's nest. The reason is that Dow Chemicals is one of the main sponsors.
The company had hedged $2.5 billion as of March 2008, but unwound its position reducing its exposure to $1.7 billion as on June 30. The unwinding resulted in a loss. An analyst tracking the firm said: "This was expected as HCL Tech had a major portion of its hedges in forward cover. Since the company has unwound $540 million of forward covers, a major part of which will show up in other income.
Despite a tough economic scenario, the Indian IT software and services sector will touch the $50-billion mark in 2008-09, though the indicated growth is lower at 21-24 per cent (currency-adjusted), according to Nasscom.
The voluntary move comes a little more than a year after the Central Drugs Standard Control Organisation, the central authority that approves new drugs for marketing, had asked the drug makers to withdraw the 'combination drugs' as they are 'unnecessary' and may pose health hazards. The Drugs Controller General of India had banned 294 combination drugs sold under nearly 1,053 brand names from the market in June 2007.
A day after the Reserve Bank of India (RBI) raised the benchmark repo rate and cash reserve ratio (CRR), leading property developers said they are mulling hiking prices of apartments and focusing on the affordable housing segment to counter the impact of a high interest rate regime.
Housing Development Finance Corporation (HDFC) Chairman Deepak Parekh on Tuesday said that interest rates may rise owing to higher inflation, but lending rates are unlikely to change in the next one month.
Adversity often brings out the best in companies, even state-owned ones. Faced with a bloated fuel bill, companies are busy devising new ways to control costs. These range from cut in travel to shift to cheaper fuels and even reduced recruitment. Power equipment maker Bharat Heavy Electricals Ltd has a brand new strategy in place -- it will set up onsite fabrication units rather than transport equipment over long distances.
According to Jagdish Shettigar, chairman of BJP's economic cell and former member of the Prime Minister's Economic Advisory Council, infrastructure, especially road building, will be a priority. It is now also certain that work on the controversial 111-km Nandi Infrastructure Corridor Enterprise connecting Bnagalore and Mysore will be accelerated. "We have always supported NICE," said a BJP leader.
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