The Hindu Business Line : Saturday, September 20, 2008

Reliance starts pumping crude from Krishna-Godavari basin
Oil to be sold to refiners; associate gas to be injected back. New Delhi/Mumbai, Sept. 19 Reliance Industries Ltd (RIL) has put an end to speculation regarding its ability to exploit hydrocarbon from its offshore asset in Krishna-Godavari Basin, ...

Sensex rises 5%; FIIs turn net buyers
Mumbai, Sept. 19 The domestic benchmark indices gained by more than 5 per cent on Friday as foreign institutional investors turned net buyers after a week of heavy selling, tracking sentiment in the global markets which saw a complete ...

$5-billion investment pla... Performance of new IPOs: FII holdings plunge
Chennai, Sept. 19 If you thought that the presence of foreign institutional investors in a stock is an indication of its long term prospects while investing in an IPO, think again. FIIs often make a quick exit from firms, within months of ...

Revert us to Govt, demand BSNL staff
Absorption issue now extends to 4 lakh employees. New Delhi, Sept. 19 The stand-off between BSNL senior officers and the Government over absorption is snowballing into a bigger ...

Work on new Koodankulam units to start by year-end
New Delhi, Sept. 19 The Centre plans to commence work on setting up four new reactors at Koodankulam with Russian assistance as early as December, with the draft technical and economic proposals expected to be firmed up latest by ...

Maytas Metro signs concession pact for Hyderabad rail project
AP Govt urges Centre to grant Rs 2,300 cr. Hyderabad, Sept. 19 Maytas Metro Ltd (MML), the company formed to build, operate and transfer the Rs 12,132-crore metro rail project, has signed the formal concession agreement with the Andhra Pradesh ...

Lack of deepwater rigs hits ONGC’s drilling plans
Co may take $1 b bridge loan to part fund Imperial acquisition. New Delhi, Sept. 19 Public sector exploration major ONGC, which is envisaging an investment of over $5 billion to start production from deepwater blocks in Krishna Godavari basin by ...

MNC banks expected to slash ad spend
Mumbai, Sept. 19 Multinational banks are expected to slash their advertising spend in the context of the recent financial turmoil in the US. HSBC, Citi Bank and StanChart along with more players in the financial sector are expected to get ...

At IIM-A, they saw shape of things to come
Ahmedabad, Sept. 19 In the aftermath of developments involving Lehman Brothers and Merrill Lynch, it is interesting to note that some of the students of the Indian Institute of Management-Ahmedabad (IIM-A) may have ‘foreseen’ ...

No plans for merging other associate banks as of now: SBI
State Bank of Saurashtra formally merged with SBI. Bhavnagar (Gujarat), Sept. 19 Announcing the formal merger of State Bank of Saurashtra (SBS) with State Bank of India here on Friday, the Chairman of State Bank Group, Mr O.P. Bhatt, said there ...

Kharif crops in over 18 lakh hectares affected
Late burst of monsoon may boost rabi crop plantings. New Delhi, Sept. 19 Over 18 lakh hectares (lh) of area planted under kharif crops in the current year have been affected due to floods till end-August, according to the provisional estimates ...

Nasscom says IT export target on track for now
Awaits September quarter results for clarity, assessment. With the US financial turmoil looming large over the Indian IT industry, Nasscom on Friday said it is sticking to the export targets for now, but will await the results and guidance ...

ICICI Bank out of top 10 advance taxpayers’ league
BHEL, NTPC are the new entrants. New Delhi, Sept. 19 Private sector presence in the top ten advance taxpayers’ league has dwindled, going by the latest data compiled for the September 15 instalment by the ...

Andaman and Nicobar may get a major port
Ministry also mulling a shipping co in Andaman with SCI having stake. New Delhi, Sept. 19 The Shipping Ministry is considering a move to set up a port in Andaman under the Major Ports Act, which will allow the port at Andaman to be funded from ...

RBI sets limits for single, daily transactions thru mobile phones
Mumbai, Sept. 19 Customers can now transact up to Rs 2,500 a transaction and a maximum of Rs 5,000 a day using mobile phones, provided they hold a debit or credit card. Also, a bank can offer mobile banking services only after it obtains ...

Markets this week
The bloodbath in the global financial services markets with maximum impact on the equity bourses following the crises at Lehman Brothers and Merrill Lynch shook the Indian stock markets too on Monday, sending the benchmark Sensex into a ...

Westerly rolls in, presages heavy falls in northwest
Thiruvananthapuram, Sept 19 A western disturbance has crossed in from the international border into northwest India and, according to forecasts, would set up a productive interaction with the prevailing monsoon depression hovering over ...