Business News

Private general insurance players will continue to capture market share at the expense of public enterprises its a mix of aggressive distribution and service.

The UPA win in the Parliament has added over Rs 2.55 lakh crore in investors' wealth in a single day after shares surged across the board on Wednesday amid celebration in the bourses on the government's second life.

Essar Steel Ltd on Wednesday signed a memorandum of understanding (MoU) with the Institute of Minerals and Materials Technology, Bhubaneswar (IMMT-B) for research and development of iron ore beneficiation technology.

After over a year of its operations in India, Mahindra Renault, the joint venture between homegrown auto major Mahindra & Mahindra and French carmaker Renault, is now planning to export Logan to countries like South Africa.

Competition is hotting up in the $12 billion Indian real estate market with developers building skyscrapers and partnering with worldwide spas and engineering companies.

A slowdown in travel triggered by higher air fares has hit online portals hard, with portals witnessing a close to 20% drop in airline business in the last 2-3 months.

India's airlines may be staring at an annual loss of over $2 billion in 2008, but the world's second largest commercial airplane maker Boeing Co raised the 20-year aircraft sales outlook in India as rising disposable incomes boost travel demand.

The three coal blocks on offer for the multi-billion-dollar coal-to-liquid (CTL) projects have seen a rush of bids from public and private sectors.

The Haryana government on Wednesday took an important step by tying up 1, 320 mw of power required to meet with the short fall of 4,000-5,000 mw of power likely to be faced by the state by 2012. Announcing this , chief minister, Bhupinder singh Hooda said China & Light Power Ltd.

At a time when gold prices are scorching, the state-owned Hutti Gold Mines Ltd (HGML)—India's only primary gold mining company—and two private entities are not seeing eye to eye over bagging prospecting licence (PL) for gold exploration in Hutti region in Karnataka.

After slowing down in April and May, India Inc has raised a higher amount through external commercial borrowing and foreign currency convertible bonds route in June.

Blue Dart, a leading player in the courier business, has ruled out the possibility of getting de-listed from the Bombay Stock Exchange (BSE) now, even though the market is abuzz with rumours that the company is going to become a fully owned subsidiary of DHL. DHL Express Singapore Pte Ltd has 81.03% stake in Blue Dart that they picked up in 2005. The public holds the rest.

Pin pointing various deficiencies in the current regulatory structures laid to promote micro insurance products across the globe, principal administrator of International Association of Insurance Supervisors, Arup Chatterjee said that excessive regulatory micromanagement of micro-insurance reforms leads to a counter-productive interaction between the regulator and the regulated.

Century Textile and Industries Ltd on Wednesday announced that the company has planned a capex of Rs 6,300 crore to be spent over a period of five years in the expansion of its cement division, pulp and paper division and development of Century Mill land.

Spices Board on Wednesday issued an alert on the possible import of star anise and cinnamon from Vietnam containing carcinogenic chrysoidine.

West Texas Intermediate (WTI) crude oil prices in the world market may continue to remain weak this week on weakening US demand, returning of supply from Brazil and Nigeria and easing tensions over Iran's nuclear programme.

Punjab's oldest aviation club established in 1962 in Amritsar has got a fresh lease of life with securing ultra-modern four-seater Cessna 172R aircraft.

As the ministers gathered here failed to make any major headway in the global trade deal talks, the World Trade Organisation director general Pascal Lamy disbanded the meeting and asked the countries to hold talks in smaller groups to help in bringing out a July 2008 package by this weekend, which would then be a stepping stone to conclude the Doha Round by the end of 2008.

Air India is working on a plan to cut losses by around Rs 1,000 crore every year by cutting capacity through rationalisation of routes and removal of loss-making routes, highly placed sources in the ministry of civil aviation said.

The rally on the bourses on Wednesday was accompanied with the commensurate rise in the trading volume and the turnover on both the segments of the stock exchange.