ITC Infotech, an IT services firm and a wholly owned subsidiary of tobacco-to-hotels conglomerate ITC Group, has acquired New York-headquartered Pyxis Solutions - a provider of quality assurance and testing services - for $25 million (around Rs 105 crore). This is its first all-cash acquisition in the last eight years, funded through internal accruals.
Once a stock market darling, the jewellery chain heads for liquidation.
LIC's Rs 3,000 crore bid helped HAL reach the minimum 10 per cent dilution threshold required for listing, sources said
Thousands of children's shoes have been kept on display outside the US Capitol as a temporary memorial to children killed by gun violence.
"China and India will certainly see a recovery in H2-09, but high-income nations will take longer to recover from the current downturn," Jeffrey told PTI on the sidelines of Mobile World Congress in Barcelona. Noting that mobile telephony is the single most powerful transformational tool in the development, Sachs said that it is one of the fastest growing sectors currently in the world.
After one of the most disastrous weeks in the history of Wall Street, Warren Buffett decided to invest $5 billion there.
With tightening in liquidity condition and expected decline in the inflation by early 2009, there is only a remote possibility of further hike in interest rate by the Reserve Bank, the US-based investment banker Goldman Sachs said in a report. Further, given the current global environment of tight liquidity and the central banks move last week to ease liquidity conditions, any further cash reserve ratio hike is firmly ruled out, it said.
The Securities and Exchange Board of India has approved The Walt Disney Company's deal to increase stake in Ronnie Screwvala-promoted UTV Software Communications beyond 15 per cent, six months after the deal was initially signed. Sebi, the market regulator, has also okayed the US-based company to launch an open offer.
The challenging task for the non-expert then is to pick up the right experts to follow, and these are not necessarily the ones who make the most noise!
Foreign institutional investors were the major sellers on the Indian bourses in the last six months, accounting for total outflows of Rs 62,000 crore (Rs 620 billion).
The Wall Street Journal said the move, which is being closely watched, may be followed by other players at Wall Street. After months of internal debate at Goldman, the paper said the seven top executives at the firm, including chief executive officer Lloyd Blankfein, asked the board's compensation committee to grant them no bonuses.
Goldman Sachs report says company might buy back shares.
Analysts expect RIL to report consolidated revenue of Rs 1.40 trillion and 10 analysts expect RIL's net income to be Rs 9,629 crore
The growth of the agriculture, forestry and fishing sectors fell to minus 2.2 per cent in the third quarter of this fiscal compared with 6.9 per cent in the year-ago period. Goldman's projection about the farm sector's growth in 2008-09 coincides with the estimate of a 2.6 per cent expansion rate by the Central Statistical Organisation.
The Rs 51 per GB data versus industry norm of Rs 250-plus comes with the caveat of an upfront payment of Rs 1,498 for a year
India's fiscal deficit, including the Centre and states, would be among the highest in the world and likely to be 10.3 per cent of GDP in the current fiscal and 10 per cent in the next fiscal, financial services firm Goldman Sachs said on Friday.
Prime Minister Manmohan Singh on Friday hailed Sachin Tendulkar as a 'genius' after the master batsman eclipsed Brian Lara to become the highest run-getter in Test cricket. Tendulkar surpassed Lara to become the highest run getter in Tests on the opening day of the second Test against Australia at Mohali.
The Indian Institute of Management-Bangalore invites corporates, entrepreneurs, professionals, MBA students and undergraduate students to attend its annual festival VISTA 2006.
That interest rates at the long end could rise in the second half of the year is disconcerting.
The cost of CNG, which will be reduced by up to Rs 15 per kg in the next few days following a rejig in natural gas allocation, will go up by Rs 10.6 a kg in April, when domestic gas prices almost double.
Who knows when the top chief executives will once again get the fat bonuses they were used to? The last recession provides a hint.
The Centre on Thursday cleared 14 Foreign Direct Investment proposals worth Rs 1,257 crore, including those of Mauritius-based Essar Telecom Holdings Ltd and US-based Goldman Sachs Asset Management. The proposals include induction of foreign equity worth Rs 500 crore by Essar Telecom Holdings and Rs 200 crore from GSAM. The investment proposals were cleared by Finance Minister P Chidambaram on the recommendations of the Foreign Investment Promotion Board.
The brokerage lowered its GDP growth numbers for FY09 to 6.7 per cent from 7.5 per cent and for FY10 to 5.8 per cent from 7 per cent, Goldman said in a research note on Monday. Goldman Sachs said the gathering financial crisis over the past several weeks has affected India's financial sector significantly, with both domestic and external liquidity drying up. This has impacted the financing for corporates, loans for households, and trade credit for exporters.
Alibaba Group Holding Ltd's initial public offering now ranks as the world's biggest in history at $25 billion, after the e-commerce giant and some of its shareholders sold additional shares.
News of all that transpired on and off the football field
A clutch of foreign and domestic institutions has submitted expressions of interest to acquire at least 26 per cent in the Delhi-based Industrial Finance Corporation of India (IFCI).
One should be careful when taking advice from experts, and not suspend one's own judgment.
Goldman Sachs has amassed $2bn to use for property investments in Asia, a move likely to intensify competition for assets in fast-growing markets such as China and India.
Reliance Industries is in talks with global energy majors, like British Gas of the UK, Chevron Corp of the US, Exxon and Shell for a possible stake sale in its Krishna-Godavari basin gas fields. RIL is looking for a strategic partner for its KG-D6 gas block to get deep sea exploration technology. The percentage of stake to be divested has not been firmed up & may depend on the value that the partner was bringing in. The block contains over 50trillion cubic feet of gas reserve
Hyderabad-based ICSA (India) is divesting 14 per cent of its stake to Citigroup Venture Capital International Growth Partnership Mauritius for $30 million
Britain's vote to leave the European Union means uncertainty for markets and companies as London initiates at least two years of negotiations with the EU.
If the government is to be the lender of last resort for financial companies, it has to demand more control over their daily business
The government has to take a call on reducing or retaining the excise rate.
Spiralling oil prices will exert huge pressure on India's balance sheet of inflows and outflows of resources resulting in a three-fold increase in the current account deficit to 4.7 per cent of the country's GDP in fiscal ending 2009, a Goldman Sachs report said on Wednesday.
The increase in bookings has also meant a significant reduction in overall costs for the online travel agencies and a consequent narrowing of losses.
Barely a month after he stunned the world by saying that oil prices will soon cross $200 per barrel, Goldman Sachs' ace oil analyst Arjun N Murti is now predicting that $200 levels for oil are unsustainable, and the demand for oil will drop drastically pulling down its price to around $75 per barrel.
Growing business opportunities fuelled by a robust economy and an increasing number of private equity investors are prompting investment bankers to quit their jobs and turn entrepreneurs.
Now, economists are famous for having a wide array of views, with most of them being wrong, but it is difficult not to notice that economists working for companies that will benefit the most from -- and, in some cases, desperately need -- lower interest rates are the ones that are screaming most loudly about how terrible things are and how the US Fed needs to cut, cut, cut rates.
Goldman Sachs analyst Arjun N Murti says crude oil prices may touch $200 in the next two years.
Interest rates still aren't low enough to stimulate the U.S. economy. Washington needs to engender more inflation so "real" rates turn substantially negative
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