Business

New York, April 01: Facebook will have market value of $234 billion by 2015, up from its current valuation of $85 billion, according to an analysis by brokerage firm Wedbush Securities that analyzes the valuations of private companies.

Wedbush Securities analyst Lou Kerner, who made this guess in a report last week on the what he called the ‘Second Internet’, says by 2015 Facebook will earn $11 billion on $22 billion and have a market value of $234 billion, Business Insider said Thursday.

Tokyo, April 01: At least 36 Japanese subsidiaries located in the so-called Free Trade Zone of Manaus, Brazil, have been adversely impacted by Japan’s mega quake and tsunami.

Well-known Japanese manufacturers in Manaus will most likely face production disruptions as they only have enough inventory to last between 60 to 90 days, a Media correspondent reported.

“Production will be stopped in June if Japanese subsidiaries do not receive their parts from the headquarters,” Project Coordinator of Manaus’ Free Trade Zone Gustavo Igrejas told Press TV.

Tehran, April 01: Iran is set to inaugurate the third phase of oil bourse on Kish Island in the Persian Gulf for trade in crude and petrochemical products with vast opportunities for foreign companies.

The third phase of the oil stock exchange will be within the next few days on the island and one of the perks of the new phase is that it will be a venue for transactions of crude oil and petroleum products, IRNA quoted the Head of Iran’s Securities and Exchange Organization Ali Sale Abadi as saying on Thursday.

Tehran, April 01: A Goldman Sachs report on global economics indicates that Iran is forecast to reach the highest economic growth between 2015 and 2025 and join the world’s largest economies.

The report titled “Global Economics Paper No: 153”, issued by the Goldman Sachs Group, Inc. on March 28, 2007, says 11 emerging economies dubbed as “N-11” countries, including Bangladesh, Egypt, Indonesia, Korea, Mexico, Nigeria, Pakistan, Philippines, Turkey, Vietnam and the Islamic Republic are expected to notch up striking economic growth rates between 2015 and 2025.

Mumbai, March 31: The rupee today rallied for the third straight session to end higher by 15 paise at nearly a four-and-a-half month high of 44.59/60 against the US currency on frantic buying by foreign funds in booming domestic equities amid a weak dollar overseas.

Dealers said that sustained sale of dollars by exporters and some banks on the last day of the financial year 2010-11 also aided the rupee rise.

Washington, March 31: Bill Gates plotted to grab Microsoft shares from his cancer-stricken business partner Paul Allen, the software firm’s co-founder has claimed in a new memoir.

Painting a unfavorable view of Gates and his rise to the pinnacle of global business, Allen details Gates’ 1982 scheme “to rip me off,” just as Microsoft was becoming a computing powerhouse with its MS-DOS operating system.

New Delhi, March 31: Britain-based Vodafone Group Thursday said it would buy out its Indian joint venture partner Essar Group’s stake in India’s leading telecom company Vodafone Essar Limited for $5 billion.

Essar Group holds a 33 percent stake in Vodafone Essar Limited. After this deal, the global telecom giant will have a 75-percent stake in the Indian mobile operator.

“The Essar Group has exercised its under-written put option over 22 percent of Vodafone Essar Limited (VEL),” said Vodafone Group in a statement.

Mumbai, March 31: The Indian rupee strengthened by 5 paise to 44.69 per US dollar at the Interbank Foreign Exchange today, supported by higher opening in the domestic stock market and dollar weakness against other Asian currencies.

Forex dealers said in addition to dollar losses against other Asian currencies, a higher opening in the stock market and dollar inflows from overseas also kept the rupee sentiment firm.

The rupee had appreciated by 4 paise to close at Rs 44.74/75 against the dollar in the previous session amid bullish equities.

New Delhi, March 31: Concerned over the alarming rate at which auto companies are directly hiring from their pack, auto component manufacturers are working on a first-of-its-kind anti-poaching agreement with the former. Though unlikely to take formal shape soon, the vendors hope that such a measure would deter big OEMs or original equipment manufacturers to increase headcount at their cost.

Mumbai, March 31: A benchmark index for Indian equities markets Thursday was trading 114 points up in early trade with consumer durables, capital goods and banking stocks leading the gainers.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,339.75 points, was ruling at 19,404.76 points, up 114.58 points or 0.59 percent from its previous close at 19,290.18 points.

The 50-scrip S&P; CNX Nifty of the National Stock Exchange was trading 0.68 percent higher at 5,823.05 points.

Mumbai, March 30: The rupee today appreciated by four paise to close at 44.74/75 against the US dollar on enlarged portfolio investments due to bullish equities.

Dealers, however, said that some dollar buying by importers, mainly oil refiners, kept the rupee rise under control.

The Bombay Stock Exchange benchmark Sensex today flared up by another 169.38 points or 0.89 per cent, gaining a total 1,203.78 points or 9.87 per cent in straight seven sessions of gains.

Foreign Institutional Investors (FIIs) injected nearly USD 1.02 billion in last six trading sessions since March 22.

Mumbai, March 30: The Indian rupee strengthened by 6 paise to Rs 44.72 per dollar at the Interbank Foreign Exchange today, supported by a higher opening in the stock market.

However, the dollar’s rise against other major currency rivals capped the rupee gains.

The rupee had appreciated by 5 paise to close at Rs 44.78/79 against the US currency in yesterday’s trade amid bullish local equity markets and easing crude oil prices.

New York, March 30: Asian stocks were higher early Wednesday, boosted by a display of confidence on Wall Street.

Japan’s benchmark Nikkei 225 index was up 1.2 percent to 9,574.68 following the release of data showing the country’s industrial production climbed for the fourth straight month in February. Factory output rose 0.4 percent from January on the back of strong demand for cars and machinery.

Tehran, March 30: Iran’s Oil Minister Massoud Mirkazemi says the ministry plans to invest about $90 billion in South Pars gas and oil projects in the current Iranian calendar year (started March 21).

Mirkazemi underlined that about $60 billion will be allocated to the upstream projects and about $30 billion to the downstream sector, the official website of the Oil Ministry Shana reported on Tuesday.

The official also noted that an extra $20 billion will be invested in the petrochemical projects of the giant field.

New Delhi, March 29: Construction equipment major JCB India Ltd Tuesday launched its first domestically-built 16-valve diesel engine, which is Bharat Stage-III (BS-III) compliant.

“These latest technology engines, would offer immense fuel efficiency to our customers. The domestic production of JCB engines will enable us to provide the best quality product,” said JCB India managing director and chief executive Vipin Sondhi.

According to Sondhi, the company will immediately start placing the new engines in its product ranges like backhoes, which would be followed by other models.

New Delhi, March 29: Private airlines will operate two additional flights from Delhi and Mumbai to Chandigarh to cater to high demands of air tickets by the cricket fans keen on watching World cup semi-final between India and Pakistan at Mohali.

Jet Airways and Kingfisher will operate an additional flight each from Delhi and Mumbai to Chandigarh, which is adjacent to Mohali, tomorrow.

“On March 30, Jet Airways flight 9W 2063 will depart from Mumbai at 0350 hours and arrive at Chandigarh at 0600 hours.

London, March 29: Super strong yet light weight cars made from the fibres of pineapples and bananas could be a possibility within two years.

In what promises to be the ultimate green development, researchers in Brazil are using plant fibres to build a new generation of car bodies as well as engine parts.

The plastics, which are strengthened by the fruit fibres, are already being tested by manufacturers who believe they could be used in cars within two years, the Daily Mail reports.

Hyderabad, March 29: If Rythu Bazars are the place where one can get vegetables and other food items for cheap, then its time to do a reality check. People visiting Rythu Bazars in the twin cities are finding that food items are being sold for much higher than listed prices.

A case in point is the Mehdipatnam Rythu Bazar, where it was found that middlemen and not ryots, occupy more than 75 percent space. Many customers have been complaining that vendors are demanding more than what is quoted on the price list.

Mumbai, March 28: German luxury car manufacturer Audi’s Indian subsidiary Monday launched a new diesel-engine variant of its luxury sports utility vehicle (SUV) Q5, priced at Rs.3,905,000 (ex-showroom Maharashtra).

“We are confident that the addition of the powerful 2.0 TDI q engine to the Audi Q5 range in India will strengthen and sustain our leadership position in the luxury SUV segment,” Audi India’s head Michael Perschke said.

According to Perschke, the new variant would ensure higher efficiency and dynamic performance.

Mumbai, March 28: Global food and beverages major Coca-Cola’s Indian subsidiary Monday launched its premium Minute Maid range of juice products.

The products are priced Rs.20 and Rs.85 for 200 ml and one litre pack respectively.

“Having established our juice credentials with the successful launch of Minute Maid Pulpy Orange and Nimbu Fresh juice drinks, we are now launching the premium Minute Maid 100 percent juice range,” said Atul Singh, president and chief executive of Coca-Cola India and South West Asia.

Mumbai, March 28: Marking its entry into the regional entertainment space, Reliance Broadcast Network Limited (RBNL) will launch a new channel titled Big Magic for the Hindi heartland April 4, a company official said here Monday.

Positioned as India’s only channel exclusively for the core Hindi heartland (Uttar Pradesh, Madhya Pradesh and Bihar), featuring locally relevant entertainment around humour, music and Bollywood, Big Magic will leverage popularity of its well-established radio brand 92.7 Big FM.

New Delhi, March 28: Reliance Industries Monday bid for six oil and gas exploration blocks while Cairn India submitted offers for two out of the 34 on offer in the 9th round of auction under the New Exploration Licensing Policy (NELP).

Reliance bid for two deepsea blocks in the Andaman Basin in the Bay of Bengal and four onshore blocks in Rajasthan and the Cambay Basin, a source in the upstream oil regulator, the DGH, said here.

Mumbai, March 28: The rupee depreciated by 10 paise to 44.77 per US dollar in early trade on the Interbank Foreign Exchange today, snapping a six-session rally as it was weighed down by dollar gains against other Asian currencies.

Forex traders said that dollar gains against most other Asian currencies mainly put pressure on the rupee but the firming trend in equities limited the losses.

The rupee rose by 8 paise to close at an over three-month high of 44.67/68 against the US currency in the previous session on Friday.

Panaji, March 28: Various government-funded agencies and NGOs are working together to revive the handicrafts sector in Goa, and to link it with the tourism industry.

“One third population of Goa is dependent on tourism. Handicrafts are a very important component of hospitality industry. Many joint efforts are being planned to promote both in Goa,” state tourism director Swapnil Naik said.

Melbourne, March 28: The Australian dollar looks set to break the 103.00 US cent mark, a place it has never been since it was floated in December 1983.

The local unit set a new post-float high of 102.94 US cents in the early hours of Saturday morning.

The previous high was 102.54 US cents, set on January 1 this year.

In recent weeks, the Australian dollar has received a boost from rising commodity prices and easing fears of a nuclear meltdown in Japan.

The currency has proven resilient against the shocks of the Japanese earthquake and tsunami and the civil war in Libya.