Business News

The 3G spectrum auctions, scheduled from January 14, could be headed for yet another controversy. The government-appointed firm for conducting the e-auctions, NM Rothschild, is an advisor to Aircel, the country's seventh largest mobile operator, to help it find a buyer for its tower business.

Sony to release films on web, before DVD In a nod to its vision of the future, Sony will make its animated hit "Cloudy With a Chance of Meatballs" available to consumers directly through internet-enabled television and Blu-ray players before the movie is released on DVD, says a New York Times report.

Despite equity support from the government, the financial mess at Air India is unlikely to abate soon, as the cash-strapped carrier would not be able to bring in funds through disinvestment or an IPO for a period of at least five more years.

Rice procurement by Food Corporation of India (FCI) and state agencies for 2009-10 crop marketing year has surpassed 11 million tonne, despite almost 15 million tonnes drop in kharif output due to drought.

Despite loosing its big bancasssurance partners, private sector life insurer HDFC Standard is looking at 10-15% growth in its new business premium over Rs 2,552 crore earned in 2008-09. The company is looking at a 10% increase in its total premium by the fiscal-end over Rs 5,565 crore, which was achieved by it at the end of March, 2009.

The Chinese government is planning to "form one or two super-scale steel complexes with individual production capacity in excess of 100 million tonne by 2015, as well as a certain number of 50-mt steel enterprises," according to a government statement.

At a time when revenue from voice has hit a plateau for telcos in Kolkata circle, Calcutta Telephones, the largest landline service provider in the circle, is looking at coming out of the red this fiscal riding growth from non-voice services.

Despite three reported incidents of plastic cladding at the head of the steering column melting in the Tata Nano, worried owners are still clueless about the cause of the technical snag or what is being done to rectify it—and no one in the company is talking.

United Radio, UK, sets up office in India London-based radio consultancy United Radio has launched its India operations.

ACCOUNTS Quasar launches Blazar, its second digital agency Quasar, the interactive agency owned by WPP and Smile Interactive Technology Group, has set up its second digital agency for the Indian market.

Was the cheer back in the market during the festive season this year? This year the festive mood was more buoyant and the number of festive offers was far more compared to the festive period last year.

GE Capital on Monday signed an agreement with Jaguar Land Rover (JLR), the UK based subsidiary of Indian group Tata Motors, to provide a working capital facility of up to £170 million, available for a five-year term.

At a time when major car manufacturers in the country are working on low cost cars, the expensive luxury vehicles, priced over Rs 15 lakh and going up to Rs 50 lakh and including sport utility vehicles and luxury sedans, are catching the fancy of car enthusiasts in India.

Nissan Motor India Private Ltd (NMIPL) managing director and CEO Kiminobu Tokuyama on Monday inaugurated the company's corporate office in Chennai.

Bank stocks are gaining momentum in recent times, with share prices surging significantly in the past one year.

AMP Capital Investors, the Australia-based specialist investment manager with A$90 billion in funds under management, is looking for an exit from its investment in Gujarat Pipavav Port Ltd (GPPL).

In the last one month, at the Bombay Stock Exchange, the Dollar Index has moved opposite to the bellwether Sensex, except for five days.

Indian equity indices throughout the trading session remained upbeat and ended the day with smart gains following strong cues from global markets, coupled with buying in the benchmark heavyweight.

The Small Industries Development Bank of India (Sidbi) on Monday signed a memorandum of understanding with the Orissa State Financial Corp (OSFC) to open fresh line of credit.