New Delhi, August 06: India’s wholesale price index fell 1.58 percent in the 12 months to July 25, compared with the previous week’s annual decline of 1.54 percent, government data showed on Thursday.
In the previous week inflation was (-) 1.54 percent.
Wholesale price index (WPI)-based inflation was 12.53 percent during the corresponding week a year ago.
Mumbai, August 06: The Bombay Stock Exchange benchmark Sensex fell over 140 points in opening trade today as foreign funds and retail investors preferred to book profits amid weak US markets.
The BSE-30 share benchmark Sensex, which had gained 72.85 points in yesterday’s volatile session, moved down by 140.46 points or 0.88 percent to 15,763.37 in opening trade.
Similarly, the Nifty index on the wide-based National Stock Exchange lost 41.70 points to 4,652.45.
Mumbai, August 06: The Bombay Stock Exchange benchmark Sensex fell over 140 points in opening trade today as foreign funds and retail investors preferred to book profits amid weak US markets.
The BSE-30 share benchmark Sensex, which had gained 72.85 points in yesterday’s volatile session, moved down by 140.46 points or 0.88 percent to 15,763.37 in opening trade.
Similarly, the Nifty index on the wide-based National Stock Exchange lost 41.70 points to 4,652.45.
Singapore, August 06: Oil retreated modestly in Asian trade on Thursday after overnight gains that were fuelled by the weakening dollar, analysts said.
New York’s main contract, light sweet crude for September delivery eased 32 cents to USD 71.65 a barrel. Brent North Sea crude for September delivery dropped 37 cents to USD 75.14 barrel.
Both contracts closed stronger yesterday as investors returned to commodities including oil, drawn by the weakening US currency which makes crude futures an attractive investment option.
Mumbai, August 06: A key index of the Indian equities markets was ruling in the red today after a weak start and shortly before noon was 81 points lower than its previous close.
At 11.30 a.m., the 30-scrip benchmark index of the Bombay Stock Exchange (BSE), the Sensex, which opened lower at 15,881.47 points, was at 15,822.66 points — 81.17 points or 0.51 percent lower than Wednesday’s close.
At around the same time, the S&P CNX Nifty of the National Stock Exchange (NSE), too, was trading in the red at 4,674.2 points, down 0.42 percent.
Frankfurt, August 06: The European Central Bank was set on Thursday to leave its main interest rate steady at a record low of 1.0 percent, analysts say, despite tighter credit and concern the eurozone could be hit by deflation.
A poll of 46 economists by Dow Jones Newswires found all expected the ECB to leave its benchmark lending rate unchanged as policymakers take a summer break.
Comments by members of the bank’s governing council in the past month “suggest a status quo on rates,” Natixis economist Cedric Thellier said.
Mumbai, August 06: The Indian rupee on Thursday plunged by 14 paise against the US currency in opening trade as stock markets are expected to open on a weak note in line with other Asian bourses amid some dollar demand from importers.
At the Interbank Foreign Exchange (Forex) market, the domestic unit fell by 14 paise at 47.66 a dollar in early trade over the previous close of 47.52.
Forex dealers said local bourses may open weak in tandem with other Asian equity markets, which are down up to 0.5 percent in morning trade, influenced the rupee sentiment.
Bangalore, August 06: Vodafone Essar, one of India’s leading cellular services providers, announced the launch of Bonus Card 37 and Bonus Card 77 for its customers across Karnataka.
The two new Bonus Cardspriced at Rs. 37 and Rs. 77 respectively are primarily targeted at customers who have specific requirements like high STD usage and local calling.
With Bonus Card 37, Vodafone customers can now enjoy all STD calls at Re. 1 for a period of two months from the date of activation, said a company release.
Mumbai, August 05: Insurance regulator, IRDA, today issued its final guidelines on corporate governance for the insurance sector focusing on key areas such as control functions, Board of Directors, governance structure and disclosures, among others.
Insurance Regulatory and Development Authority (IRDA) has asked the insurance companies to comply with the guidelines from this fiscal onwards.
The guidelines also focus on relationship with stakeholders, interaction with the supervisor and whistle-blowing policy.
Mumbai, August 05: Shailendra Bhandari has been appointed as the Managing Director and CEO of ING Vysya Bank,following receipt of Reserve Bank approval this week.
Bhandari takes charge of the bank at close of business tomorrow and will be based in Bangalore, a press release issued here today stated.
He was most recently Head of Private Equity at Tata Capital.
Prior to that, he was Managing Director and CEO of Centurion Bank of Punjab.
He has, in the past, worked with HDFC Bank and Prudential ICICI Asset Management Company, the release said.
New Delhi, August 05: Private carrier Kingfisher Airlines has reported a net loss of Rs.1,608.09 crore ($338.5 million) for 2008-09, but said it has plans to raise Rs.500 crore from the equity market.
The airline’s expenses on employees cost stood at Rs.823.85 crore last fiscal, while expenses on aviation fuel and aircraft lease rental were respectively at Rs.2,602 crore and Rs.1,185.13 crore, Kingfisher said in a regulatory statement Wednesday.
The carrier’s performance for the first quarter of the current fiscal was also dismal with losses touching Rs.242.71 crore.
Mumbai, August 05: The Anil Dhirubhai Ambani group Wednesday alleged conflict of interest in naming the two experts who evaluated and validated the overstated capital cost of Krishna-Godavari gas fields, awarded to Mukesh Ambani’s Reliance Industries.
Reacting to the comments by the Directorate General of Hydrocarbons Tuesday, the group said both the independent expert P. Gopalakrishnan and global consultancy Mustang Engineering had conflict of interest with the Mukesh Ambani group.
Mumbai, August 05: A key index of the Indian equities markets, which rose about 120 points in the last 30 minutes of trade Wednesday, gave up most of the gains but still closed in the green, 42 points up over its last close.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 15,882.39 points, ended trade at 15,873.85 points (provisional), up 42.87 points or 0.27 percent.
The Nifty of the National Stock Exchange (NSE), too, shut shop in the red at 4,684.8 points, up 4.3 points.
Mumbai, August 05: In choppy trade, the Bombay Stock Exchange benchmark Sensex rose nearly 73 points on buying by funds at heavy-weight counters on sustained capital inflows. The Sensex, which shuttled between 15,973.10 and 15,695.11 during the session, ended with a gain of 72.85 at 15,903.83 on news of a higher opening at European stock markets.
San Francisco, August 05: Microsoft Corp is to hire 400 workers from Yahoo Inc as part of their deal announced last week to collaborate on search advertising, the companies said in a regulatory filing.
The two companies are also to jointly select 150 other Yahoo employees to help with the transition of Yahoo’s search and related advertising systems to Microsoft technology, they said Tuesday.
In other details that emerged about the 10-year deal, the companies said the agreement could be terminated in July 2010 by mutual consent.
Mumbai, August 05: A key index of the Indian equities markets slipped after rising almost 143 points soon after the opening bell Wednesday, and was ruling just 11.58 points up, about an hour into trading.
The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened higher at 15,882.39 points, as against Tuesday’s close at 15,830.98 points. But it slipped to 15,848.32 points, 17.34 points or 0.11 percent down.
Mumbai, August 05: Humour has its grim side as radio station Big FM 92.7 would have learnt recently, with actor Sunny Deol crying foul over one of the station’s shows, Son Sonny, that he claims “is cheap comedy and in very bad taste”.
New Delhi, August 05: Country’s largest state-owned bank State Bank of India (SBI), automobile giant Tata Motors and oil major Indian Oil Corporation, besides Sahara India and its promoter Subroto Roy figure in the list of top 100 tax defaulters in the country.
San Francisco, August 05: Social networking website Facebook continues its rapid rise and has already become the fourth most trafficked website in the world, technology blog TechCrunch has reported.
In June this year, Facebook attracted a total of 340 million unique visitors globally, trailing only Google, Microsoft and Yahoo sites, the report said, citing latest results from market research firm comScore.
According to the report, Facebook grew 157 percent in the past year alone, gaining 208 million visitors.
Toronto, August 05: Canadian markets crossed the 11,000-point mark Tuesday for the first time in 2009.
The last time the composite index on the Toronto Stock Exchange (TSX) stood at this mark was in October 2008.
After sinking to the lowest level of almost 7,500 points in March this year, the markets have made major gains to recoup some of the losses from peaks of June 2008.
The Canadian markets had crossed the 15,000 mark for the first in their 150-year history in June 2008.
Gandhinagar, August 04: Gujarat Government todaysigned a memorandum of association (MoA) with Korea LandCorporation (KLC), an agency of South Korea Government, to setup an industrial park and technology zone in South Gujarat.
The proposed park will be set up in Gujarat VittalInnovation City (GVIC) Ltd, a multi-product SEZ being jointlydeveloped by Gujarat Industrial Development Corporation (GIDC)and GVIC.
The MoA was signed by Chief Minister Narendra Modi andDo Youp Kwon, Vice-Minister of Land, Transport and MaritimeAffairs of Korea.
Mumbai, August 04: The Board of Axis Bank todaypassed an enabling resolution that will allow the lender toissue up to 7.14-crore equity shares to raise funds.
“This enabling resolution will facilitate it (thebank) to raise capital at an appropriate time to supportfuture growth,” Axis Bank said in a statement issued here.
The private sector bank is adequately capitalised forits current needs, it added.
—Agencies
Hyderabad, August 04: As part of its reorganisation drive, Mahindra Satyam, earlier known as Satyam Computer Services Ltd., is tightening the noose around senior employees. Sources said, nearly 1,000 senior leaders’ roles will become redundant with the organisational structure put in place by Tech Mahindra, the new owner of Satyam.
New Delhi, August 04: Infosys BPO, the BPO arm of Infosys Technologies, on Tuesday announced that it has secured a five-year contract with T-Mobile UK.
Infosys BPO has been engaged by T-Mobile UK to support several core processes for their finance directorate which cover customer finance, commercial finance and accounting (F&A), and procurement operations, Infosys BPO said in a statement.
London, August 04: Asia-focused bank Standard Chartered beat expectations with a 10 percent rise in half-year profit on Tuesday and unveiled a surprise 1 billion pound (USD 1.7 billion) fundraising.
Standard Chartered Chief Executive Peter Sands said the share placing was “absolutely not” to build a warchest for a big acquisition, but was to give the bank firepower to take advantage of opportunities as Asian economies and customers recover.