Business News: General

View: Headlines Only | Include Summaries | Include Photos

India 3G auction to also include CDMA - minister Reuters - Thu, Aug 28
By Devidutta Tripathy
NEW DELHI (Reuters) - India has decided to auction CDMA licences for 3G services, a change in policy that means Reliance Communications and Tata Teleservices will have to bid for spectrum they were previously guaranteed of getting.
Indian shares fall 1.7 pct on inflation concerns Reuters - Thu, Aug 28
By Narayanan Somasundaram
MUMBAI, Aug 28 (Reuters) - Indian shares fell 1.7 percent on Thursday to their lowest close in about a month, as investors braced for higher inflation and the risk of more increases in interest rates.
Tata Steel June qtr consolidated net rises 60.5pct Reuters - Thu, Aug 28
MUMBAI (Reuters) - Tata Steel Ltd, the world's sixth-largest steel maker, said on Thursday its consolidated quarterly net profit rose 60.5 percent boosted by its Anglo-Dutch unit Corus.
Oil rises towards $120 as Gustav threatens US Gulf Reuters - Thu, Aug 28
By Jane Merriman
LONDON, Aug 28 (Reuters) - Oil rose towards $120 a barrel on Thursday, its fourth day of gains, boosted by the threat of damage to U.S. oil installations from Tropical Storm Gustav.
China, Iraq reach $3 bn oil deal FE - Thu, Aug 28
China and Iraq have reached an agreement on a landmark, three-billion-dollar deal to exploit oil in the Middle Eastern country, the Iraqi embassy in Beijing said on Thursday.
Aditya Birla Nuvo to buy Apollo Sindhoori Reuters - Thu, Aug 28
MUMBAI (Reuters) - Diversified firm Aditya Birla Nuvo Ltd said on Thursday it would acquire 56 percent in Apollo Sindhoori Capital, expanding its financial services portfolio in a fast-growing market.
Pyramid Saimira in talks to buy UK theatre chain Reuters - Thu, Aug 28
MUMBAI (Reuters) - Pyramid Saimira Theatre said it was in preliminary talks to buy UK's oldest theatre chain, Reel Cinemas.
Oil rises for 4th day to above $119 on storm fears Reuters - Thu, Aug 28
By Osamu Tsukimori
TOKYO (Reuters) - Oil rose for a fourth straight day to above $119 a barrel on Thursday, on fears Tropical Storm Gustav may hit the Gulf of Mexico after it morphs into a major hurricane, crippling the heart of U.S. offshore production.
Indian shares extend fall to 2 pct on day Reuters - Thu, Aug 28
BANGALORE (Reuters) - Indian shares extended losses to 2 percent on Thursday afternoon, ahead of weekly inflation data and a fall in European markets.
GLOBAL MARKETS - Sterling tumbles, stocks hit by oil rise Reuters - Thu, Aug 28
By Sebastian Tong
LONDON (Reuters) - Weak UK housing data knocked sterling to a 12-year low on Thursday, weighing on European stocks already under pressure as oil prices edged up on supply concerns over a brewing tropical storm in the Gulf of Mexico.
Tech Mahindra to buy minority stake in European co Reuters - Thu, Aug 28
MUMBAI (Reuters) - Tech Mahindra Ltd said on Thursday it would acquire a minority stake in European systems integrator, Servista for an undisclosed sum and would be the latter's delivery arm for three years.
Rupee weakens on month-end dlr demand Reuters - Thu, Aug 28
MUMBAI (Reuters) - The rupee weakened further in afternoon trade on Thursday as oil refiners scaled up dollar purchases to meet month-end import commitments, but a steeper fall was curbed by expectations of Reserve Bank of India (RBI) intervention.
GM to launch new small car in India in 2009 - exec Reuters - Thu, Aug 28
MUMBAI (Reuters) - General Motors Corp plans to launch a new small car in India in the second half of 2009, but has no plans to take on Tata Motor's low-cost Nano, its India head said on Thursday.
General Motors to put $200mln in India engine plant Reuters - Thu, Aug 28
MUMBAI (Reuters) - General Motors Corp on Thursday said it would invest more than $200 million initially in a powertrain plant in India, as the troubled carmaker aims to double its share of a fast-growing but increasingly competitive market.
Mobile user base touches 296 million ANI - Thu, Aug 28
India now along with China is between the top two countries that add maximum number of wireless subscribers every month. India has added record 9.22 million wireless subscribers in July as against 8.94 million in June.
Markets recover, Sensex adds 50 pts FE - Thu, Aug 28
The Bombay Stock Exchange benchmark Sensex gained 50 points in early trade on Thursday on selective buying by funds amid short-covering by speculators.
Indian shares open down but quickly turn positive Reuters - Thu, Aug 28
MUMBAI (Reuters) - Indian shares started lower but quickly turned positive on Thursday, led higher by Reliance Industries and Larsen & Toubro ahead of the expiry of monthly derivatives contracts.
Rupee weakens on oil import payments Reuters - Thu, Aug 28
MUMBAI (Reuters) - The rupee weakened on Thursday as refiners scrambled to meet month-end import commitments, but cautiousness over Reserve Bank of India's intervention prevented the rupee from falling sharply.
Gold extends gains on firm oil, soft dollar Reuters - Thu, Aug 28
By Lewa Pardomuan
SINGAPORE (Reuters) - Gold rose further on Thursday on safe-haven buying as oil continued its ascent and on a sliding dollar, but it would have to crack key resistance levels to sustain the uptrend.
Indian shares seen lower as oil rises for 4th day Reuters - Thu, Aug 28
MUMBAI (Reuters) - Indian shares could drop on Thursday as oil prices rose for a fourth day, raising the risk of higher inflation and firmer interest rates.