Spectrum auction ends, brings Rs 1.09 tln to govt kitty.
Financial services major Barclays Plc on Tuesday posted a robust profit of 6.87 billion pounds ($10.77 billion) for the three months ended December 31, 2009, driven by the sale of its Global Investors unit.
StanChart has got an approval from the RBI to list on the country's stock exchanges, but the bank is yet to approach SEBI for selling its depository receipts.
Nikos Kardassis will become the next chief executive officer of Jet Airways, taking over the reins from Wolfgang Prock-Schauer who will step down on October 15, 2009.
Confectionery maker Cadbury, which has agreed to be acquired by US-based Kraft Foods, on Tuesday said India will remain a key market for its business.
The government was planning to come up with a new fiscal model giving 'special incentives' for fields that were given out on nomination to ONGC and Oil India, reports Shine Jacob.
Minister of State for Petroleum and Natural Gas Jitin Prasada, who led the roadshows in the US and Canada, said the roadshows for 70 blocks offered in NELP-VIII and 10 coal bed methane blocks received overwhelming response from investors.
The reshaping programme has been announced to combine and streamline group's three global research and development operations into one Unilever R&D organisation to improve efficiency, a company statement said.
Barclays customers would now be able to access all the information about the bank and its products and services besides downloading account opening forms in seven languages -- English, Hindi, Marathi, Gujarati, Tamil, Telugu and Kannada. Barclays Bank Plc's Global Retail and Commercial Banking, managing director, India and Indian Ocean, Samir Bhatia, said: "Barclays is committed to offering services that make banking easy and accessible to all."
Petroleum Minister Murli Deora will meet Russian Prime Minister Vladimir Putin in Moscow on Wednesday in an effort to secure energy assets, including UK-listed Imperial Energy Plc.
Reliance Industries and its partner BP Plc on Thursday won approval to invest $3.18 billion in R-Series gas field in the flagging KG-D6 block.
Hindustan Unilever Ltd, the Indian unit of Anglo-Dutch consumer group Unilever Plc, reported an 18 per cent rise in quarterly profit, beating estimates, helped by a revival in consumer spending.
Our partnership with ICICI Bank continues to remain strong. We have an exceptional relationship with them, says group CEO of Prudential.
The Government of India Society announces admissions to the 10-weeks full time course.
Prime Minister Narendra Modi, who won a landslide election victory in May largely on a promise of economic growth, is expected to speed up divestments to bolster revenue generation.
Albanese said India had lost a lot of market share in iron-ore.
After Vodafone, UK-based Vedanta Resources Plc and Aditya Birla group firm Indian Rayon also face a potential tax demand of around Rs 900 crore and Rs 45 crore, respectively, for their failure to deduct taxes on payments to buy Indian assets, said a senior government official.
The first such proposal in the sector has come from the joint venture between Tata-Trent and Tesco Plc, which will open outlets simultaneously in these two states.
Following the October 24 Supreme Court order, the department of telecom estimated that the total liability of 15 telecom companies, including penalties and interest, would be Rs 1.47 lakh crore.
The vehicle can rescue as many as 14 people in one dive.
As per the outsourcing partnership agreement, Firstsource would manage Barclays' operations center in Colorado Springs and would provide customer care and collection support to its US cardholders, Firstsource Solutions said in a filing to the Bombay Stock Exchange.
The Oil and Natural Gas Corp has deferred investments in Imperial Energy Plc to raise crude oil production and will rather consolidate the western Siberian operations of the UK-based firm it acquired recently.
Private equity-backed Kosmos, which has received a total of $800 million in financing from Blackstone and Warburg Pincus, has hired Standard Chartered and Barclays Plc to sell its stakes in the offshore Jubilee oil field. A potential sale of Kosmos' stake in the Jubilee field is being closely watched as the asset is one of the largest oil finds in West Africa in the past decade.
UTV Software Communication Media Company has announced that they have reached agreement on the terms of a recommended Proposal pursuant to buy the remaining stake in UMP Plc for about $195 million to integrate its movie business.
In addition to undertaking to validate prospects identified by the joint venture, GCA employed a play-based exploration methodology on the D3 block to address both the current prospect inventory and the 'yet to find' resource potential. In D3, GCA estimated 9.5 Tcf of inplace reseves. D-3 and D-9 blocks in the same KG basin may hold 9.5 Tcf and 10.8 Tcf of gas reserves respectively, UK-based Hary Oil and Gas Plc said.
Court says no evidence of cartel in low bids for coal blocks.
The company has entered into an exclusive franchise agreement with Tata group's retail venture Trent, which will help in driving the latter's hypermarket format Star Bazaar. Tesco plans to develop new wholesale outlets, which will offer a range of food, grocery and non-food products to small retailers, restaurants, kirana stores and other businesses.
In effect, companies which put their money in telecom in India would have done much better to keep the cash in bank and earn interest.
Arun Sarin, who recently retired as the Vodafone group CEO, is being considered for the post of chief executive of internet major Yahoo! Inc, the Wall Street Journal says.
The fall in international oil prices notwithstanding, ONGC Videsh Ltd will not revise its pound 12.50 a share buyout of Imperial Energy Corp Plc as the acquisition priced UK-listed firm's in-place oil reserves at $2.5-3 per barrel.
The government has slapped an additional penalty of $792 million on Reliance Industries for producing less than targeted natural gas from its eastern offshore KG-D6 block.
According to the CEO of an Indian group with presence in the telecom segment and two merchant bankers, the Mexico-headquartered telco's bankers have been sounded out for preliminary discussions with leading Indian telecom companies for a strategic tie-up.
Thomas Cook India, the country's largest travel-related service provider, said it slashed about 7 per cent of its workforce in 2008 and shut a few of the retail outlets as part of a plan to cut cost and boost profits.
Cairn India, which found India's largest oil field in Rajasthan in over 30 years, has discovered a saline water reservoir near its oil field that will help pump crude oil to the ground level and enhance production.
Some other tax authorities are looking at the allegations.
Speaking at Assocham's international retail summit, Rakesh Kacker, additional secretary in the Department of Consumer Affairs, said the government would take a decision at an "appropriate time". He did not specify the time-frame. The move has been in abeyance due to protests from across the political spectrum.
The Indian IT major spent a total of Rs 15 crore (Rs 150 million) towards the failed deal, but in the process received Rs 33 crore (Rs 330 million) from the UK firm, as inducement fees. Two of India's leading software services firm were in the race to acquire the London Stock Exchange-listed Axon, but last month HCL Technologies outbid Infosys and acquired the British firm.
Oil and Natural Gas Corporation has taken control of Imperial Energy after 96.8 per cent shareholders accept its takeover offer.
ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corporation, will make an offer to acquire shares of the United Kingdom-listed Imperial Energy Corp Plc at 12.50 pounds a share by December 9.
The government on Monday received 181 bids from global and domestic oil majors, including ONGC, Reliance Industries, Essar, BP Plc and BHP Billiton, for oil and gas exploration blocks under the seventh round of NELP auction.
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