|
|
|
|
|
Realty demand slowing as finance an issue
France’s Lagarde launches IMF bid, BRICS complain
iPhone 4 to be launched in India tomorrow
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
CCI finds NSE guilty of abusing dominant position n 27 film producers fined
Nod to 10K-tonne sugar export to EU
Airtel, Comviva in pact for Africa
CORPORATE RESULTS India to foil attempts to shift goal posts in Doha talks Inflation unlikely to ease: RBI
|
|
Realty demand slowing as finance an issue
New Delhi, May 25
Funding constraints for smaller developers may result in certain small markets witnessing inventory liquidation and price adjustments. RBI has increased interest rates to curb inflation resulting in some slowdown in growth than what was originally envisaged for financial year 2011. The retail segment continues to lack momentum waiting for a definitive policy on FDI in multi-brand retail. DLF says that project approval delays became a bigger impediment to growth - especially in the second half of the financial year, given the uncertain political environment. Funding became increasingly constrained for the industry especially for the smaller developers with weaker balance sheets. Increased interest rates and rising commodity prices have & continue to impact margins. In its outlook for financial year 2012, DLF expects RBI actions will continue to result in a tighter liquidity environment increasing the chances of a further tempering of growth. However, genuine actual user consumer and corporate demand both in the residential & commercial leasing segments continues to be healthy. Speculative demand has petered out, while investment demand has slowed down considerably due to a worsening financing cost equation. It is increasing overall target for asset divestments to Rs 10,000 crore from Rs 4,500 crore and Rs 6,000-7,000 crore will be divested in the next 2-3 years.
|
|||
|
France’s Lagarde launches IMF bid, BRICS complain
Paris/Washington, May 25 "It is an immense challenge which I approach with humility and in the hope of achieving the broadest possible consensus," Lagarde told a Paris news conference. Brazil, Russia, India, China and South Africa criticised EU officials in a joint statement for suggesting the next International Monetary Fund head should be a European, a convention that dates back to the founding of the global lender at the end of the Second World War. However, the countries known as the BRICS failed to unite behind a common alternative candidate, leaving the way clear for Lagarde unless she slips on a pending French legal case. In the first joint statement issued by their directors at the Fund, the BRICs said the choice of who heads the IMF should be based on competence, not nationality. They called for "abandoning the obsolete unwritten convention that requires that the head of the IMF be necessarily from Europe." The IMF's board will draw up a shortlist of three candidates and has a June 30 deadline for picking a successor. — Reuters
|
|||
|
iPhone 4 to be launched in India tomorrow
New Delhi, May 25 "With a robust rollout of Aircel's 3G services in 13 circles across India, the launch of iPhone 4 will allow our consumers to truly savour the 3G experience," Aircel Director Sandip Das said. "With our incredible new price plans, we aim to make iPhone more affordable than ever," Das said. Following an upfront payment of Rs 34,500 for the 16GB model and Rs 40,900 for the 32GB model, customers will have the opportunity to recover 100 per cent of their upfront iPhone cost in monthly credits on Aircel's service plan over a period of 24 months, it said.— PTI
|
|||
|
CCI finds NSE guilty of abusing dominant position
New Delhi, May 25 "The Commission has pronounced NSE guilty of violating Section 4 of the Competition Act, 2002. But it will decide on the quantum of fine only after hearing NSE. We have given them a week's time to respond to our show cause notice," an official told PTI. This is second time CCI has sent a show cause notice to NSE on the issue before taking a decision on the quantum of fine to be slapped on it. The earlier show cause notice was challenged at the Bombay High Court. Under the law, companies can be fined up to 10 per cent of their three year average profit. The MCX-SX in its representation to the CCI in November 2009 had alleged that NSE had substantially reduced admission and trade related fees to eliminate competition and discourage other entities from entering the market. MCX-SX is promoted by commodity exchange MCX and Financial Technologies. Based on this complaint, the CCI had ordered a probe into the alleged misuse of dominant position by the NSE. Last year in December, the investigation wing of the CCI had recommended action against the NSE for abusing its dominant position in the currency derivatives trade segment. The report said that NSE used its dominant position and original monopoly in equity, F&O (Future and Options) and WDM (Wholesale Debt Market) markets to protect its position in the currency derivative (CD) market. Currency futures trading started on the NSE on August 29, 2008, and at the MCX-SX on October 7, 2008.— PTI
|
|||
|
Nod to 10K-tonne sugar export to EU
New Delhi, May 25 The Directorate General of Foreign Trade (DGFT) has allocated a "total quantity of 10,000 tonnes of raw/white sugar for export...to EU for the period October 2010 to September 2011 (sugar season)". State-run trading firm Indian Sugar Exim Corporation, which is the designated agency for export of sugar to the EU, will export the commodity under a preferential quota agreement, DGFT said. The exported sugar will be received by the EU duty free, under a special concessions provided for after conclusion of the General Agreement on Trade and Tariff. Though the government has banned exports of sugar, it has allowed shipment of five lakh tonnes of the sweetener under open general licence.- PTI
|
|||
|
Airtel, Comviva in pact for Africa
New Delhi, May 25 Financial details were not disclosed, but the company said it was a five-year deal. Comviva is partly owned by Bharti Airtel's parent Bharti Group, while WestBridge Capital, Sequoia Capital India and Cisco Systems are the other investors in the company. Yesterday, Bharti had said it would invest $1 billion in the African continent across the 16 nations to expand its network in a bid to consolidate its operations. Sunil Bharti Mittal said his company had already invested $11 billion and had committed another nearly $ 1billion investment for this year for expansion of the network. Last year, Bharti had acquired Kuwait-based Zain Telecom's African business for $10.7 billion.— TNS
|
|||
|
Tata Steel back in black
Mumbai, May 25 The world's seventh-largest steelmaker by output reported net profit of Rs 8,900 crore for the year after taxes, minority interest and share of profit of associates, compared with a consolidated net loss of Rs 2,000 crore a year ago. Net sales for the year were Rs 1.17 lakh crore, compared with Rs 1.02 lakh crore in the previous year. Tata Steel's European operations account for two-thirds of its global capacity of about 28 million tonnes, while the booming Indian operations contribute a quarter. It also has units in Thailand and Singapore. Coal India profit
up 13 pc
Coal India on Wednesday reported 12.93 per cent rise in its consolidated net profit at Rs 10,867 crore for the financial year ended 2010-11. Net sales of the company also increased to Rs 50,233 crore for the year ended March 31, 2011 compared to Rs 44,615 crore
in 2009-10. Ind-Swift Labs net up 51 pc
Ind-Swift Laboratories Ltd has crossed Rs 1000-crore turnover mark, as sales grew 30.49% to Rs 1031.61 crore in 2010-11 from Rs 790.52 crore in 2009-10. Net profit rose 51% to Rs 87.62 crore from Rs 57.69 crore. Vice-Chairman and MD, NR Munjal, credited the growth to strong product
pipeline. Cairn India net jumps 10-fold
Cairn India Ltd on Wednesday reported a 10-fold jump in its quarterly net profit on back of higher crude oil price and consistent performance at the nation's biggest onshore oilfield in Rajasthan. Consolidated net profit in the fourth quarter through March rose to Rs 2,457.79 crore from Rs 245.19 crore an year earlier. Trent net up 73.28 pc
New Delhi: Tata Group company, Trent Ltd that operates Westside along with other branded retail chains, today posted 73.28 per cent increase in its consolidated net profit for the year ended March 31, 2011, at Rs 2.53 crore. Net sales increased 43.12 per cent.— Agencies |
|||
|
India to foil attempts to shift goal posts in Doha talks New Delhi/Paris, May 25 Opposing any rush into completing the Doha multilateral negotiating round, New Delhi said that the developed countries are seeking to put more demands on the developing nations for market opening. It said progress already made must be protected. "India views such an attempt to shift goal posts as unacceptable and as a violation of the mandate," Commerce and Industry Minister Anand Sharma said. He will participate in the informal WTO meeting of the select Trade Ministers on the sidelines of the OECD (Organisation for Economic Development) meet in Paris tomorrow. The meeting, which has been convened by Australia, is likely to be attended by ministers from European Union, the US, China and Japan. Sharma, who would push for protecting the gains already achieved during ten years of negotiations, said after taking aggressive cuts in tariff rates under the Swiss Formula, it would be difficult for emerging economies to accept "top-ups" which are sought to be made mandatory.— PTI
|
|||
|
Inflation unlikely to ease: RBI Chandigarh, May 25 The survey, sponsored by RBI, expects inflation to remain between 7-7.9 per cent through out this year. This is much higher than RBI’s inflation projection of around 6 per cent by March 2012. Forecasters were asked to assign probabilities to various macro-economic indicators linked to the economy. “Forecasters have assigned the highest (30.2 per cent) chance that the wholesale price index inflation will fall in 7-7.9 per cent, in end-March of 2011-12,” the survey said. The RBIs projection for WPI inflation for March 2012 was 6 per cent, keeping in view the domestic demand-supply balance.— TNS
|
Glenmark settles patent suit in US Oberoi revokes all pledged shares in EIH M&S to open 10 more stores MakeMyTrip public offer
|
|||||
|
| HOME PAGE | |
Punjab | Haryana | Jammu & Kashmir |
Himachal Pradesh | Regional Briefs |
Nation | Opinions | | Business | Sports | World | Letters | Chandigarh | Ludhiana | Delhi | | Calendar | Weather | Archive | Subscribe | E-mail | |
In a presentation on the real estate market, DLF has said that speculative and investment demand has slowed down considerably as the financing cost equation has changed for the worse.
Speculative demand has petered out, while investment demand has slowed down considerably due to a worsening financing cost equation
Actual user consumer and corporate demand in residential & commercial leasing segments continues to be healthy
Paris/Washington, May 25
Telecom operators Bharti airtel and Aircel today said they will start selling Apple's iPhone 4 in India from May 27.
"With a robust rollout of Aircel's 3G services in 13 circles across India, the launch of iPhone 4 will allow our consumers to truly savour the 3G experience," Aircel Director Sandip Das said.
