Business News

Market regulator SEBI is understood to have asked RIL as to why it should not be barred from accessing the market in relation to violation of insider trading norms -- a charge denied by the company.

Reliance Industries may make a firm bid to acquire bankrupt chemicals and fuel maker LyondellBasell Industries AF in February 2010 after USD 20 billion of debt owned by the troubled firm is restructured.

The reconstituted Indo-US CEO Forum is scheduled to hold its first meeting on Monday, setting out the agenda for the next phase of relationship in business, industry and economy between the two countries.

Continuing the record setting spree, gold hit yet another high of Rs 17,605 per 10 gram for April contract in the futures market on Monday.

The Bombay Stock Exchange benchmark Sensex on Monday gained 102 points in opening trade on heavy buying by foreign funds and retail investors, driven by firming trend on other Asian bourses.

The Indian rupee strengthened by 16 paise to 46.45 against the US currency extending Friday's gains in early trade on Monday on hopes of increased capital inflows into equity and dollar selling by exporters.

Lack of connectivity among eight countries of South Asia is a major impediment for intra-regional trade, which has the potential to grow over eight times, SAARC secretariat chief said here.

Dalal Street is likely to witness volatile trade this week and seek direction from global markets in the absence of any major domestic trigger, believe analysts.

The cumulative valuation of the 16 Indian stocks trading on American bourses rose by USD 217 million last week, although a host of them witnessed a decline in their market capitalisation.

Cheeka was in a foul mood. The last meeting with the BCCI Prez had been a disaster, to put it mildly. "Capital, capital," the Prez had muttered, looking at the recent performances of the team. Cheeka beamed in acknowledgement.

After the Doha Round impasse exposed the internal contradictions in the World Trade Organisation's (WTO) style of functioning, India has proposed a near-radical package for reforming the world body.

To enhance investors' awareness about the corporate sector, the ministry of corporate affairs would now involve its regional directors (RDs) and the Registrar of Companies (RoCs) in the functioning of the Investor Education and Protection Fund (IEPF).

Handset giant Nokia said it will cut around 330 jobs in Finland and Denmark, as part of streamlining research and development operations.

Bloomberg may lay off about 130 employees in BusinessWeek, which the global financial news and data provider acquired recently, says a media report.

Over 60 per cent of companies listed on the Bombay Stock Exchange have seen their share value fall in the last two years, Parliament was informed.

Dell Inc's quarterly profit plunged 54 per cent on lower-than-expected sales as it lost market share to competitors engaged in a budding price war in the PC market.

The rupee recovered smartly by 15 paisa to 46.53/54 against the greenback in early trade on Friday on exporters dollar sales amid subdued local stocks.

Gold futures steadied near record highs on Friday as pressure from profit-taking was offset by the yellow metal's safe-haven appeal on cautious global economic outlook, analysts said.

The Bombay Stock Exchange 30-share index fell by 22 points at 1015 hours on Friday in sustained volatility caused by approaching expiry of futures & options contract.

Oil rose in Asian trade on Friday as investors bought the commodity at more attractive prices, but concerns over the strength of the global economic recovery has injected caution into the market.