New Delhi, July 30: The battle of broadband heats up the market as Bharti Airtel slashes rates.
Subscribers will be able to experience 1 Mbps surfing speeds from Airtel at Rs. 1,699 per month, which costs 100 bucks more than the current 512 Kbps and the 512Kbps speed plan will now cost Rs. 1,099, which is Rs. 200 more than the current 256 Kbps.
Mumbai, July 30: In highly volatile trade, the Bombay Stock Exchange benchmark Sensex bounced back and went up over 142 points in afternoon today as speculators indulged in covering short positions on the last day of the expiry of the July contracts in derivatives.
The Sensex, which dipped to 15,065.48 points in early trade, recovered by 142.08 points, or 0.90 per cent at 15,315.54 at 13.15 hours with heavyweight stocks led by banks and IT leading the recovery.
Similarly, the 50-share National Stock Exchange index Nifty rose by 38.30 points to trade higher at 4,551.80 at the same time.
Mumbai, July 30: In an exclusive interview to ET, Anil Ambani says Mukesh “has already made it amply clear, both within the family, and externally, that he does not visualise any further role for my respected mother in resolving this matter or any other matter.”
There’s nothing personal, it’s strictly business, says Anil Ambani , chairman of the Anil Dhirubhai Ambani Group, a day after he lashed out at his elder brother and Reliance Industries Ltd (RIL) chairman Mukesh Ambani, and the petroleum ministry.
Abu Dhabi, July 30: Emirates has decided to roll out nine additional flights to Beirut, Lebanon, in August in order to keep up with customer demand during the busy summer season.
The sources said that the additional flights will give the Dubai to Beirut service an important boost.
At present, Emirates operates 17 weekly flights between Dubai and Beirut. During August the carrier will add 18 additional flights between Dubai and Beirut.
The sources said that demand for travel to Beirut from Dubai on the Emirates network is usually very high during summer.
New Delhi, July 30: In a major jolt to Anil Ambani group, the Supreme Court today refused to take up a gas dispute between Reliance Industries and RNRL for final hearing on September 1.
The apex court rejected the request of Anil Ambani Group company for expeditious proceedings, saying that it will decide the final date on September 1.
—Agencies
New Delhi, July 30: India’s annual rate of inflation fell marginally to minus 1.54 percent for the week ending July 18 from minus 1.17 the week before, according to official data released here Thursday.
The rate turned negative for the week ended June 6 for the first time since the new wholesale price index (WPI) series started in 1995.
The inflation rate had last turned negative in 1977. Negative inflation implies that the average wholesale price level was lower during a given week, than it was in the corresponding week a year ago. It does not necessarily reflect retail prices.
Washington, July 30: Yahoo! and Microsoft, after months of negotiations, unveiled a 10-year Web search and advertising partnership on Wednesday that sets the stage for a joint offensive against Internet titan Google.
Under the no-cash deal, Yahoo! will use Microsoft’s new Bing search engine on its own sites while Yahoo! will provide the exclusive global sales force for the companies’ premium search advertisers.
New Delhi, July 30: India’s corporate profits have shot up and share prices have rocketed but Asia’s third-largest economy is not out of the woods yet, analysts say.
In fact, the central bank this week forecast just six percent growth for the current fiscal year, down from last year’s 6.7 percent — the weakest since 2003. The forecast is also a percentage point below the government’s estimate.
India’s economic recovery has not yet “reached what might be termed a self-sustaining phase,” said HSBC economist Robert Prior-Wandesforde.
Tokyo, July 30: Japan’s factories ramped up their production at the fastest pace in 56 years in the second quarter, data showed Thursday, boosting hopes the world’s number two economy has returned to positive growth.
Japanese industrial output plunged last year in the midst of a brutal global economic downturn, pushing Asia’s biggest economy into its worst recession since World War II, but analysts say the worst appears to be over.
New Delhi, July 30: Airlines should follow the law of the land while frisking passengers in India, Civil Aviation Minister Praful Patel said.
Referring to the recent controversy over former President APJ Abdul Kalam having been frisked at Delhi’s Indira Gandhi International Airport by Continental Airlines, the Minister said: “The rules of BCAS (Bureau of Civil Aviation Security) should be followed in India.”
The US airline frisked Kalam when he was going on a visit to the US this April.
New York, July 30: Microsoft Corp and Yahoo Inc inked a 10-year Web search deal to challenge market leader Google Inc but stopped short of combining their display advertising businesses.
The long-expected deal effectively means Microsoft’s new Bing search engine will be combined with Yahoo!’s experience attracting advertisers to pose the first serious threat to Google, if the companies get regulatory approval and can make the partnership work.
Mumbai, July 30: In a no-holds-barred attack, Anil Ambani today landed an emotional punch on elder brother Mukesh, saying he no longer sees a role for their mother Kokilaben in resolving their gas dispute and has traded their father Dhirubhai’s “vision” for “corporate greed”.
Mu,bai, July 30: IT major Tata Consultancy Services ( TCS) will look to increase its recruitment from smaller cities in the coming decades, said chief executive officer ( CEO) and managing director ( MD) S. Ramadorai.
He was announcing the findings of the TCS Generation Web 2.0 Trends survey conducted by the company.
Ramadorai said the rising level of netizens among the current crop of teenagers in non- metros is indeed positive.
New York, July 30: US stocks fell Wednesday amid fresh commodity fears, which overshadowed an optimistic report on the US economy from the Federal Reserve.
Energy and metals manufacturers declined as the price of crude oil dropped 5.8 percent to $63.35 per barrel in New York trading. The price was led lower by a report of a surprising increase in US oil stockpiles.
The US central bank said that economic activity is beginning to stabilize in most regions. Only its regional bank in Minneapolis, Minnesota, said its local economy was still contracting.
New Delhi, July 29: Two-wheeler major Hero Honda Motors Wednesday reported 83 percent jump in profits to Rs.500 crore ($103 million) for the quarter ended June 30 as compared to Rs.272.8 crore in the like period last year.
The total income surged 33.7 percent to Rs.3,864 crore from Rs.2,890 crore, the company said in a regulatory statement.
Hero Honda’s total turnover grew to Rs.3,822.4 crore in the quarter from Rs.2,851 crore a year ago, reporting a growth of 34 percent.
Mumbai, July 29: The Bharti Airtel has challenged the Indian Broadband market by cutting the cost in their Broadband tariffs.
As from now the internet user would able to surf at a 1Mbps speed by paying just Rs. 1,699, which is Rs. 100 more than the current 512 Kbps tariff. As From now the 512Kbps tariff will cost Rs. 1,099 which is Rs. 200 more than 256Kbps tariff.
Mumbai, July 29: Now Airtel is offering this costly gadget Apple iPhone 3G with an easy EMI option. Also Airtel is providing 500MB data download per month for the first 12 months and after that Airtel will charge 30 paise/50 KB.
Two week earlier, iPhones 3G was launched in India which was priced at Rs 31,000 for 8GB and Rs 36,100 for 16GB model.
This offer is made available to all visa card holders of HDFC bank, SBI Cards, ICICI bank and Citibank.
This service was firstly introduced by the Vodafone
—Agencies
New Delhi, July 29: Reliance Power has posted a net profit of Rs.100.56 crore ($21 million) for the quarter ended June 30 as against Rs.59.7 crore reported in the like period last year.
The total income has increased to Rs.144.24 crore from Rs.77.67 crore, the company said in a statement.
The company posted a consolidated net profit of Rs.263 crore for the quarter as compared to Rs.61 crore reported in the corresponding period last year.
—IANS
Mumbai, July 29: The Anil Ambani-led Reliance Natural Resources Ltd (RNRL) Wednesday reported 7.4 percent surge in its net profit to Rs.17.2 crore ($3.5 million) for the quarter ended June 30 as compared to Rs.16 crore in the like period last year.
Total income increased 24 percent to Rs.115.4 crore from Rs.92.9 crore, the company said in a regulatory statement.
Earlier in the day, RNRL chairman Anil Ambani said his company had served notice to both the petroleum ministry and Reliance Industries Ltd (RIL) seeking an early settlement of the ongoing dispute between the two companies.
Mumbai, July 29: The BSE Sensex slid 1 percent on Tuesday, its third consecutive fall, as a sell-off in Shanghai stocks on fears Chinese banks may begin to restrict lending weighed on markets across Asia.
Chinese stocks dropped 5 percent, their biggest fall in eight months, dragging down India’s main index as much as 2.9 percent before it pared losses as analysts said any moves by banks in China were unlikely to affect India.
Mumbai, July 29: Hero Honda Motors Ltd, India’s largest motorcycle maker on Wednesday reported an 83 percent rise in net profit for the June quarter beating forecasts on high sales volumes, new product launches and lower raw material prices.
The company, in which Japan’s Honda Motor Co holds 26 percent stake, reported a net profit of 5.00 billion rupees ($103 million), up from 2.73 billion a year earlier.
Net sales rose to 38.11 billion rupees from 28.44 billion year-ago.
Mumbai, July 29: Tata Steel Ltd, the world’s No. 8 steel maker by output, on Wednesday reported a larger-than-expected 47 percent fall in June quarter profit from its Indian operations as realisations fell sharply on lower commodity prices.
Tata Steel, which acquired Europe’s second-largest steelmaker Corus in 2007, said standalone net profit fell to 7.90 billion rupees ($163 million) for the fiscal first quarter ended June, from 14.88 billion reported a year earlier.
Net sales fell to 55.5 billion rupees from 61.70 billion.
Washington, July 29: Microsoft appears to have finally locked up rival Yahoo in a long-awaited internet search partnership aimed at narrowing Google’s commanding lead in the most lucrative piece of the online advertising market.
The details of the Microsoft-Yahoo alliance are expected to be announced Wednesday local time, according to The Wall Street Journal and a technology blog affiliated with the newspaper, All Things D, which both cited undisclosed people familiar with the discussions.
–Agencies
Tokyo, July 29: Honda Motor Co saw its net profit plunge 95.6 percent to 7.56 billion yen ($80 million) in the April-to-June quarter because of a global decline in auto sales, the Japanese carmaker said Wednesday.
Although cost-cutting measures showed some positive effects in earnings results in Honda’s first quarter, Japan’s second-largest carmaker said production cuts and a stronger yen reduced operating profit in those three months.
Honda’s operating profit tumbled 88 percent to 25.16 billion yen, and sales fell 30.2 percent to 2 trillion yen from the same period a year earlier.
Mumbai, July 29: Anil Ambani, fighting the petroleum ministry and Reliance Industries for enforcement of a 2005 gas deal, has warned that the higher price of gas suggested by the ministry will result in an increase in power costs. He was talking to shareholders at the annual general meeting of Reliance Natural Resources (RNRL).
The ministry had suggested that RIL should charge $4.2 as a base price for its gas from the KG basin, almost double the price at what RIL itself had bid to supply to government owned National Thermal Power Corp (NTPC).