shameen

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.

Mumbai, August 04: The Bombay Stock Exchange benchmark Sensex was down by 93 points on Tuesday as market participants booked profits because of concerns about the weak monsoon.

The Sensex, which had gained 750.77 points in the last three sessions, fell by 93.25 points at 15,830.98, after touching 16,000 in the early part of the day. The key index had surged to a 14-month high yesterday.

Similarly, the 50-share National Stock Exchange index Nifty lost 30.90 points at 4,680.50 after touching the day’s high of 4,731.45 and a low of 4,642.60 points.

New Delhi, August 04: Reliance Industries’ gas sales from its eastern offshore fields have risen to 35 million cubic metres a day, the highest since the nation’s most prolific fields started producing in April.

RIL now has the capacity to produce 60 mmscmd but is constrained to produce less as the government is yet to identify customers beyond the initial 40 mmscmd that had been allocated primarily to fertiliser and power producers in accordance with the Gas Utilisation Policy.

New Delhi, August 04: JSW Steel, the country’s largest private sector steel maker by capacity, today said its production rose 51 percent to 5.02 lakh tonnes in July on robust demand from consumers like the automobile sector, construction and white goods.

The company said crude steel production for July was the highest monthly output in the segment. In the same period last year, the company’s steel production stood at 3.33 lakh tonnes, JSW Steel said in a statement.

Shanghai, August 04: China’s banking regulator is considering tighter rules on domestic banks’ derivative operations after some companies and lenders suffered heavy losses last year, local media said Tuesday.

The China Banking Regulatory Commission is studying plans to discourage lenders from trading complicated overseas derivative products, the China Business News reported, citing unnamed sources.

It may also ban domestic banks from taking part in complex derivatives transactions between domestic companies and overseas institutions, one of the sources told the newspaper.

Atlantic City, August 04: Meet the new boss, same as the old boss: It’s Donald Trump. The real estate mogul and reality TV star, his daughter Ivanka, and Dallas-based Beal Bank successfully fought off competition from bondholders in bankruptcy court to purchase the Atlantic City casino company he once ran and that has always borne his name.

Trump Entertainment Resorts Inc. chose Donald Trump’s USD 100 million cash offer late Monday night. The Trumps and an affiliate of Beal Bank Nevada will take the company private.

The deal still must be approved by a bankruptcy judge.

Washington, August 04: Top US bank regulators will speak out on Tuesday against some key elements of the Obama administration’s plan to reshape financial regulation, saying parts of it were unneeded or could be disruptive.

The officials’ defiance, in prepared congressional testimony obtained by media, came despite a warning given to them on Friday by Treasury Secretary Timothy Geithner.

Melbourne, August 04: Australia and New Zealand Banking Group (ANZ) will acquire certain businesses of RBS in Asia for an estimated USD 550 million, as part of efforts to expand its presence in the region.

ANZ would buy Royal Bank of Scotland’s (RBS’s) retail, wealth and commercial businesses in Taiwan, Singapore, Indonesia and Hong Kong.

Further, the entity would acquire the institutional businesses of RBS in Taiwan, the Philippines and Vietnam, ANZ said in a statement today.

New Delhi, August 04: The government may raise the number of job days under the NREGA scheme to compensate rural households for loss of income due to a poor monsoon in large part of the country.

“We have to see whether the 100 days limit (of employment days under NREGA) is adequate. If it is not adequate, we can increase it temporarily,” Planning Commission Deputy Chairman Montek Singh Ahluwalia said.

New Delhi, August 04: The Steel Ministry has approved the sale of 8.38 percent of government equity in the blue chip company NMDC that could fetch the exchequer around Rs 12,000 crore.

“We have approved the 8.38 per cent disinvestment of government’s stake in NMDC. We will be sending the proposal to the Disinvestment Department in a day or two (for initiating the process of equity sale),” Steel Secretary P K Rastogi told reporters.

The country’s largest iron ore mining company is one of the most valued Indian firms with a market cap of Rs 1,46,297 crore.

New Delhi, August 04: The government on Tuesday said that there was no plan of retrenchment and early retirement scheme for the employees working in the civil aviation sector.

“There are approximately 52,042 employees working in the civil aviation sector in the attached/autonomous/public sector organisations under this ministry. There are no such proposals in the above organisations,” Minister of State (Independent Charge) for Civil Aviation, Praful Patel informed the Rajya Sabha.

New Delhi, August 04: The government has extended by two months the last date of bidding for the nation’s largest ever auction of oil and gas blocks to October 12, an official said.

A revised timetable has been drawn after finance minister Pranab Mukherjee extended the 7-year income tax holiday to natural gas production.

The first of the promotional roadshows for 70 blocks offered under the eighth edition of New Exploration Licensing Policy (NELP) and 10 coal bed methane (CBM) areas will be held in Mumbai on August 8, a Petroleum Ministry official said.