Moody's likely to have major stake in ICRA-CARE combine
THE international rating agency, Moody's Investor Services (Moody's), is likely to emerge as the single largest shareholder in the enlarged rating agency to be formed as a result of the merger between the two domestic credit rating agencies -- Credit Ana lysis and Research Ltd (CARE) and Investment Information and Credit Rating Agency Ltd (ICRA).

Payment crises fears drag stocks down
STOCK prices crashed on the Dalal Street on Tuesday as hopes sunk and expectations evaporated amidst fears of impending payment crisis on the bourses. Equities drowned as bears pounded with large scale selling and institutional investors, local and forei gn, abstained from active participation that could have lifted the sagging benchmark BSE-30 shares sensitive index (Sensex).

Birla Sun Life gets in-principle nod
MUMBAI: >Birla Sun Life Insurance Company has received in-principle clearance for registration from the Insurance Regulatory and Development Authority (IRDA) to enter the life insurance business, according to a company statement here.

Tips tunes into the southern markets
THE Mumbai-based music company, Tips Industries Ltd, today said it has acquired music rights held by five South-based music companies with over 530 titles to extend its presence in the regional language markets for an undisclosed amount.

Drug cos catch cold on PPA replacements
INDIAN drug firms are exploring the possibility of using substitutes for the banned drug PPA or phenylpropanolamine chloride that is widely used in cough and cold formulations.

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