The Hindu Business Line : Thursday, March 05, 2009

Repo, reverse repo rates cut
Signal for banks to cut lending rates. Mumbai, March 4 Sending a strong signal to banks to lower lending rates, the Reserve Bank of India on Wednesday cut repo and reverse repo rates by half a percentage point each with immediate effect. Though ...

Hexaware to cut basic pay by 50% for 350 staff on bench
Higher-level employees to take 2-10% salary reduction. Mumbai, March 4 IT companies are increasingly finding it difficult to stay competitive in the current economic ...

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Tax relief for services done outside SEZs too
Exemption window replaced by refund mechanism. New Delhi, March 4 Services rendered from outside special economic zones (SEZs) to developers/units in such zones will now be entitled for service tax relief. The benefit would flow in the form of ...

Singapore co to invest in Formulae 1 hotels in India
BUDGET STAY. New Delhi, March 4 The Government has allowed AAPC Singapore Pte Ltd to invest Rs 365.78 crore in an Indian company to construct, develop, own and manage low-budget Formulae 1 hotels here. AAPC is a hotel management company and ...

Pvt life insurers facing ULIP delinquencies
Leveraging bancassurance network to sustain growth. Bangalore, March 4 With unit-linked insurance plan (ULIP) premium accretions slowing down or facing delinquencies, private sector life insurers have begun leveraging on their bancassurance ...

Range for rupee between 50 and 53
The rupee made a decisive move below the 50-mark last Thursday and has been spiralling lower ever since. Weak stock markets and accelerated selling by foreign institutional investors in the domestic markets were the ostensible reasons behind ...

Reliance Retail looks to scale up Fresh, Hyper value formats
Merges operations and sourcing for these formats; slowdown impacts plans. While it has experimented with several retailing formats ranging from jewellery to lifestyle over the two-and-a-half years since it started, Reliance Retail will focus on ...

Growth in notebook segment slumps
Vendors pin hopes on Govt spending to perk up sales. Bangalore, March 4 Notebook vendors, impacted by a steep slump in sales over the past two quarters, are pinning hopes on government buying to prop up sales in the first half ...

Cos fine-tuning wage cost, bench strength
CRUNCH TIMES. Mumbai/ Bangalore, March 4 After Hexaware and Mastek, one could expect several other companies to come out with innovative methods to reduce their wage bills yet retain employees, according to head hunters and ...

ONGC sees scope to negotiate with shipyards for lower prices
For twelve offshore support vessels. Mumbai, March 4 ONGC is looking at renegotiating the prices for 12 offshore support vessels with global and Indian shipyards that had submitted price bids in response to the oil explorer’s tenders ...

W. Africa’s Benin sees India as economic growth centre
Pact signed to form India-Benin Committee. New Delhi, March 4 India is seen as an economic growth centre in the backdrop of global financial ...

No slowdown blues for Australian farmers
Rebound in crop production, exports seen. The current times are not the most propitious for businesses, including those in the farm commodities ...

Models say heating may relent, but only just
Thiruvananthapuram, March 4 More parts of west and central India aligned along a northwest-southeast axis from west Rajasthan, north Gujarat, madhya Maharashtra, Vidarbha to Telengana slipped under heat wave conditions on ...