Business

Mumbai, August 12: A key index of the Indian equities markets opened in the red Wednesday, and was 145 points below its last closing figure about ten minutes into trade.

The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 14,953.44 points, as against Tuesday’s close at 15,074.59 points. It soon slipped to 14,929.13 points, 145.46 or 0.96 percent down from its previous close.

The S&P CNX Nifty of the National Stock Exchange (NSE) too was trading in the negative terrain and was at 4,426.65 points, a fall of 1 percent.

London, August 12: Tory plans to hand medical records to private companies and allow patients to alter their medical histories online risk compromising privacy and preventing doctors from gaining swift access to vital data, medical workers and MPs have warned.

New York, August 12: Microsoft, the world’s largest software maker, and Nokia, the biggest mobile phone maker globally, were to announce a partnership Wednesday that would enable Microsoft Office to run on Nokia phones, US media reports said.

Details of the alliance were to be announced at 1500 GMT Wednesday by Stephen Elop, president of Microsoft’s business division, and Kai Oistamo, executive vice president for Nokia Devices, according to a statement from Microsoft.

Mumbai, August 12: The Bombay Stock Exchange benchmark Sensex today fell by almost 197 points in opening trade on selling by foreign funds and retail investors, tracking weak global markets.

The 30-share index moved down by 196.58 points, or 1.21 per cent to 14,878.01 points in opening trade after stocks of auto, metals and realty sectors suffered the most.

Similarly, the Nifty index on the wide-based National Stock Exchange fell by 62.60 points, or 1.39 per cent at 4,408.75. All the sectoral indices dipped with losses up to 1.68 per cent.

Dubai, August 11: The United Arab Emirates (UAE) has been ranked seventh in the list of world’s most optimistic nations in terms of consumer confidence level during the second quarter of 2009, according to a new survey by a global marketing research firm.

In its Global Consumer Confidence Survey report, AC Neilson said the UAE registered a five-point rise in its confidence level, reflecting hopes of early revival of its economy, WAM news agency has reported.

Mumbai, August 11: Private sector IndusInd Bank today said it plans to raise up to USD 100 million by way of qualified institutional placement (QIP).

“We will be raising USD 100 million through a QIP. I cannot share further details (of the issue) at this point,” a senior officer with the bank told.

According to banking industry sources, IDFC-SSKI and Morgan Stanley are advising the bank on the issue.

—Agencies

Ahmedabad, August 11: The sticky black substance found near the beaches of south Gujarat districts of Navasari and Valsad was a result of crude oil spill, state government officials said today.

“The chemical analysis of the lumps of black substance found off the coast of south Gujarat from Umbrath to Tithal confirmed that it was crude oil,” principal secretary, environment and forest, S K Nanda told PTI.

New Delhi, August 11: A step which could take the GSM mobile service offering in the Delhi to a new level, MTNL Delhi, state run mobile service provider, has announced the launch of “Trump Combo” an attractive tariff plans with lower Local and National calling, and SMS charges for customers of its prepaid arm Trump.

The Trump Combo Tariff Pack comes at Rs.75 with 30 days validity and Talk Time of Rs.10. With this pack MTNL GSM Prepaid customer can make Local call to own network (Landline and Mobile) at 20 paisa and 50 paisa per minute for other network phone.

New Delhi, August 11: There was no possibility of terror outfits manipulating the country’s stock market, the government informed the Supreme Court Tuesday.

“The government, at present, does not have any reliable, credible information of any surreptitious entry of a terrorist outfit into the stock market,” the Department of Revenue said in a fresh affidavit before the Supreme Court which is hearing a lawsuit seeking direction to the government to retrieve the Indian black money stashed abroad.

New Delhi, August 11: China has admitted that its pharmaceutical companies were involved in shipping fake drugs labelled ‘Made In India’ to Nigeria.

“The Chinese authorities have accepted this position (that its firms were involved in the case),” an official said.

“The Indian government took up the matter with the Nigerian authorities and on further probe, it was found that the drugs had actually originated in China and not in India,” he added.

Mumbai, August 11: In choppy trade today, smart buying in auto, realty and metals helped the benchmark Sensex to cut short three sessions of heavy losses and the barometer gained 65 points due to positive Asian cues. Initially, the 30-share Sensex of the BSE touched a low of 14,864.23 but turned the corner after late morning deals before bouncing back to a high of 15,218.65 at the fag end.

Mumbai, August 11: Indian equities ended trade in the green today, with a key index gaining 57 points after volatile trading most of the day.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 15,000.38 points, ended trade at 15,066.98 points (provisional), up 57.21 points or 0.38 percent.

The Nifty of the National Stock Exchange (NSE) too shut shop in the green at 4,471.9 points, up 0.77 percent.

New Delhi, August 11: The Reserve Bank Tuesday cautioned the public to verify the credentials before dealing with entities promising various loans, saying there were cases where such entities disappeared after taking the processing fees.

The central bank said it noticed that certain entities are issuing a spate of advertisements in newspapers offering personal loans, loans against property and other loans, at a very low rate of interest.

Tokyo, August 11: Japan’s central bank kept its key interest rate unchanged at 0.1 percent Tuesday, and maintained a cautious view on the strength of recovery in the world’s second-largest economy.

The Bank of Japan’s policy board voted unanimously to keep the overnight call rate unchanged at the end of a two-day meeting. Markets had expected no change in the rate.

In neighboring South Korea, the central bank also left its key interest rate unchanged at a record low of 2 percent for the sixth straight month.

Moscow, August 11: Russia’s economy contracted 10.9% in the second quarter of 2009 from output in the same period last year, but increased 7.5 percent from output in the first quarter, initial data from the statistics office showed on Tuesday.

In the first quarter, gross domestic product (GDP) had fallen 9.8 percent on a 12-month basis.

The government is forecasting a contraction of up to 8.5 percent in GDP in 2009, in a dramatic end to the robust growth the country enjoyed over the last half decade on the back of high energy prices.

Dubai, August 11: India showed the highest jump in consumer confidence, a 13-point leap from 99 in the March 2009 survey, a Nielsen Global Consumer Confidence Survey has revealed.

Japan, South Korea, Hong Kong and Indonesia climbed 9 points each, and Taiwan and Brazil experienced 8-point increases in their consumer confidence levels.

Further, UAE ranks the seventh most optimistic country in the world in the second quarter of 2009, the survey says.

New Delhi, August 11: Faced with the dichotomy of overflowing granaries and rising commodity prices, Prime Minister Manmohan Singh Tuesday said the government will do “everything possible” to put the lid on food inflation.

He conveyed this to business chamber FICCI-led delegation that called on him.

“He (Prime Minister) was quite confident that given the buffer stock, they (government) would be able to handle the food inflation,” FICCI Secretary General Amit Mitra told reporters after the meeting.

Mumbai, August 11: Indian equities were trading in the green Tuesday afternoon, with a key index ruling 193 points higher than its previous close.

At 2.10 p.m., the 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 15,000.38 points, was at 15,202.92 points, up 193.15 points or 1.29 percent.

Similarly, the Nifty of the National Stock Exchange (NSE) too was in the green at 4,509.45 points, up 1.62 percent.

Mumbai, August 11: After falling by over 145 points in early trade, the Bombay Stock Exchange benchmark Sensex, staged comeback to quote in positive zone with a rise of 143 points at 1100 hrs on the back of recovery in heavy-weight stocks of oil and gas, auto and realty sectors.

The Sensex bounced back to trade 143.42 points higher at 15,153.19 at 1100 hrs.

In a likewise manner, the wide-based National Stock Exchange index Nifty gained 46.80 points at 4,484.45.

Mumbai, August 11: When Wipro pitches for business process outsourcing work from prospective clients in India, it turns to Wividus — a BPO managing work for its various divisions and group companies including the official BPO arm, Wipro BPO.

The 300-people strong Wividus is the internal outsourcing division managing various business processes for the over one-lakh strong organisation.

The BPO arm of IT firm showcases the work done by Wividus to Indian firms looking to outsource various business processes.

New Delhi, August 11: Entrepreneurs adopting environment-friendly measures in their business ventures can now look forward to additional support from investors while contributing to conservation efforts.

Investment up to USD 100 million will be raised for various small and medium green enterprises (SMEs) in the country by 2012 under the ‘New Ventures India’ scheme launched by the US-based World Resources Institute as part of a USAID programme.

Mumbai, August 11: The Bombay Stock Exchange benchmark Sensex dipped below 15,000-point level by losing over 145 points in early trade Tuesday, as foreign funds and retail investors engaged in off-loading positions on worries over weak rains, crucial for the domestic demand-led economy.

The BSE-30 share benchmark Sensex, which had lost almost 895 points, or 5.6 per cent in past three sessions, fell by 145.54 points at 14,864.23 in early trade.

Similarly, the Nifty index on the wide-based National Stock Exchange lost 38.75 points to 4,398.90.

New Delhi, August 11: To support the export sector, the foreign trade policy (FTP) to be announced later this month is likely to contain stimulus packages, Commerce Minister Anand Sharma said here on Monday.

“We will talk to the finance ministry on export sector stimulus. We will announce more stimulus in the trade policy this month,” Sharma said after a meeting of the Board of Trade (BoT), the government’s highest advisory body on export and import-related issues.

Mumbai, August 11: Bolstered by a four-fold jump in treasury gains, India’s top 12 banks clocked a 55.2 percent jump in net profits in the quarter ended June 30, but high cost of funds hit their net interest margins, rating agency CARE said in a report on Monday.

Aggregate net profits of the top banks zoomed to Rs 8,175.6-crore in the quarter as compared to Rs Rs 5,266.7-crore in the year-ago period, with treasury gains accounting for 11.6 percent of the operating income, the report said.

New York, August 10: Oil prices climbed above USD 71 a barrel today ahead of this week’s US consumer spending data that could shed light on the strength of the economic recovery.

Benchmark crude for September delivery gained 48 cents to USD 71.41 a barrel on the New York Mercantile Exchange.

The government this week will report July retail sales, and Wal-Mart Stores Inc and Macy’s Inc will announce their second quarter results.

Friday’s news that the US unemployment rate fell to 9.4 per cent in June sent stock markets surging, but crude prices still fell USD 1.01 to USD 70.93.