The Hindu Business Line : Saturday, November 08, 2008

More companies opt to trim man hours, cut production
Demand is slowing as credit crunch, high rates weigh on customer spending. Mumbai, Nov. 7 The economic slowdown has begun to hurt companies across industries forcing many top rankers to cut production, opt for reduced working hours and ...

H2 growth may be slower, says Nasscom
New Delhi/Hyderabad, Nov. 7 Software association Nasscom on Friday said that after about 24 per cent revenue growth clocked in the first half of the current financial year, the Indian IT industry may see a slower growth rates in the second ...

Offers to quit: Th... DoT plans share lock-in for new telcos
Promoters may be allowed to go for strategic investors, fresh equity issue. New Delhi, Nov. 7 The Department of Telecom is planning to ban sale of equity shares owned by Indian promoters of new telecom companies for a period of 3-5 years. This ...

Raja defends 2G spectrum policy
New Delhi, Nov. 7 The Communications and IT Minister, Mr A. Raja, on Friday said that he will resign if allegations made against his decision to allocate 2G mobile spectrum on a first-come-first-served basis was proven ...

Forex reserves shrink by $5.5 b
Mumbai, Nov. 7 The foreign exchange reserves continued to decline for the sixth consecutive week, falling by $5.532 billion to touch $252.883 billion for the week ended ...

FIIs have not lent shares abroad
Mumbai, Nov. 7 It appears that foreign institutional investors have not lent any Indian shares overseas since October ...

Gift, travel cards may come under RBI scanner
Mumbai, Nov. 7 Fearing money laundering through pre-paid payment instruments such as gift cards/vouchers, travel/expense cards, food coupons, telephone calling cards, etc, the Reserve Bank of India has indicated that it may subject ...

IRDA relaxes general insurance norms
More benefits for customers; will allow insurers to broaden offerings. Hyderabad, Nov. 7 If you maintain your car in good shape and make no insurance claim, you can expect more and higher incentives from your ...

Employee cost in top four IT majors up 30% in Q2
Net staff addition declined by 35%. Chennai, Nov. 7 The slowdown in the US financial service dampened the hiring of employees by top Indian software companies. But employee cost, which contributes the most to expenditure, rose in the second ...

Truck makers: A worried lot, brace for tough times
Drop in sales forces them to cut production, revise forecasts. Bangalore/Mumbai/Chennai, Nov. 7 It is not panic situation yet, but with the economy slowing down, truck and bus manufacturers in the country are revisiting their growth forecast ...

Gold holdings of five ETFs slip in October
Gold funds post negative return of 9.6%. Mumbai, Nov. 7 With the mutual fund industry facing redemption pressure, the gold holdings of the five listed gold exchange traded funds (ETFs) declined in October as there was profit booking by the ...

Cement firms’ cost of production rises 17 pc in Q2
Realisation for nine cos improves by 5%. Mumbai, Nov. 7 Nine major cement companies, which command a market share of 65 per cent, have reported a 17 per cent jump in cost of production to Rs 138 for a 50 kg bag in the second quarter of the ...

ARCIL sees more stressed assets from retail sector
Mumbai, Nov. 7 ARCIL, an asset reconstruction company, hopes to acquire stressed assets worth Rs 2,500 crore in the current year, said Mr S. Khasnobis, Managing Director and CEO. Of this, 20-25 per cent will be retail assets, he ...

Markets this week (Latest Audio:English)

Equity and currency markets rose on Monday, buoyed by the massive liquidity support announced by RBI earlier on Saturday. The Sensex regained the 10,000-mark, in what the market-men termed as a relief rally. The index closed up 550 points or ...