Business News: General

  • The sun rises behind a communications tower in New Delhi in this March 20, 2006 file photo. REUTERS/B Mathur/Files
    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.

  • The Bombay Stock Exchange (BSE) building is reflected in a glass window in this March 10, 2008 file photo. 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. REUTERS/Arko Datta
    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 company logo is seen in this May 17, 2007 file photo. 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.
REUTERS/Arko Datta
    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.

  • The sun sets behind Isla refinery in Willemstad at the island of Curacao in this June 16, 2008 file photo. 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. REUTERS/Jorge Silva
    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.

  • Kumar Mangalam Birla, Chairman of Aditya Birla Group, speaks during a news conference in Mumbai in this February 11, 2007 file photo. 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. REUTERS/Punit Paranjpe
    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.

  • The sun sets behind Isla refinery in Willemstad at the island of Curacao in this June 16, 2008 file photo. 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. REUTERS/Jorge Silva
    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.

  • The Bombay Stock Exchange (BSE) building is seenin this file photo. REUTERS/Punit Paranjpe
    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.

  • A pedestrian walks past a stock price display at a brokerage in downtown Tokyo in this November 2, 2007 file photo. Weak UK housing data knocked sterling to a 12-year low on Thursday, weighing on European stocks already under pressure. REUTERS/Michael Caronna
    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.

  • Indian currency notes are stapled to form a garland at a market in Srinagar in this May 20, 2008 file photo. 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 RBI intervention. REUTERS/Fayaz Kabli
    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.

  • A General Motors employee inspects Chevrolet Impalas on the production line in Oshawa, Canada in this August 21, 2006 file photo. 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. REUTERS/J.P. Moczulski
    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.

  • A worker of General Motors' German unit Adam Opel AG drives a fork lift truck in this October 20, 2004 file photo. General Motors Corp on Thursday said it would invest more than $200 million initially in a powertrain plant in India. REUTERS/Wolfgang Rattay
    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.

  • Indian currency notes are stapled to form a garland at a market in Srinagar in this May 20, 2008 file photo. 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. REUTERS/Fayaz Kabli
    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 bars are displayed at Mitsubishi Materials Corporation in Tokyo in this March 17, 2008 file photo. 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. REUTERS/Issei Kato/Files
    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.

  • The Bombay Stock Exchange (BSE) building is reflected in a glass window in this March 10, 2008 file photo. Indian shares could drop on Thursday as oil prices rose for a fourth day, raising the risk of higher inflation and firmer interest rates. REUTERS/Arko Datta
    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.


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