NATIONAL SAT knocks off SEBI order on First Global case The Securities and Exchange Board of India (SEBI) today (Dec 3, 2004) suffered a setback for the second time within two months as the Securities and Appellate Tribunal (SAT) has set aside the order of the market regulator against Shankar Sharma promoted First Global Stockbroking Ltd as a broker from participating in the capital market.
India has emerged 5th largest in outsourcing: ILO Contrary to the general perception that India was a major beneficiary of global outsourcing, ILO (International Labour Organisation) today (Dec 3, 2004) said the country has emerged as the fifth largest economy in the world in terms of outsourcing to other economies.
IA turns around; posts net profit of over Rs 44 cr After a gap of four years, Indian Airlines has made a turnaround, posting a net post-tax profit of Rs 44.17 crore in 2003-04 as against the net loss of Rs 196.6 crore the previous year.
Insider trading didn't happen before GTB's merger The Securities and Exchange Board of India (SEBI) has found no insider trading in the shares of erstwhile Global Trust Bank (GTB) before its merger with Oriental Bank of Commerce (OBC).
This was stated on today (Dec 3, 2004) by Finance Minister P Chidambaram in a written reply to the Lok Sabha. A probe was ordered by SEBI following a spurt in trading in GTB shares just before the Reserve Bank announced a moratorium on July 25.
Bill to boost trade and revenue gets Lok Sabha nod Lok Sabha today (Dec 3, 2004) approved a bill to help boost trade and revenue and facilitate effective computerisation of tax-administration and electronic data processing.
Market touches new intra-trade high; ends lower The market today (Dec 3, 2004) ended fractionally lower after scaling a new record high of 6361.53 in fairly high volatility caused by alternate bouts of buying and selling from institutional investors.
Market touches new intra-trade high; ends lower The market today (Dec 3, 2004) ended fractionally lower after scaling a new record high of 6361.53 in fairly high volatility caused by alternate bouts of buying and selling from institutional investors.
'India will continue as a fastest growing economy' India will continue to be one of the fastest growing economies of the world despite expectation of lower growth this fiscal mainly due to deficient rains and higher oil prices, Minister of State for Finance S S Palanimanickam said today (Dec 3, 2004).
Shell makes a come back to fuel retailing in India Anglo-Dutch giant Shell has made a come back to auto fuel retailing in India after nearly three decades, commissioning its first petrol pump in Bangalore last week.
Telecom tariffs in India may drop by 30-40%: TRAI Telecom tariffs in India can drop by 30-40 per cent more if the Telecom Regulatory Authority of India (TRAI) goes ahead with its planned cut in the access deficit charge (ADC).
SC asks Reliance Infocomm to pay Rs 84.7 cr to BSNL The Supreme Court today (Dec 3, 2004) directed Reliance Infocomm to pay up a balance Rs 84.7 crore to BSNL for the demand of Rs 182.7 crore made by it for using the Home Country Direct services thereby routing the international calls as local ones.
Inflation unchanged even after cut in petro prices Contrary to expectations that it might fall after a cut in petrol prices, inflation remained unchanged at 7.34 per cent during the week ended November 20 though manufactured products and primary articles including fruits and vegetables became costlier.
Sensex opened moderately high, moves irregularly The Sensex opened moderately up and later witnessed irregular movements during morning trading on the Stock Exchange in Mumbai today (Dec 3, 2004) on fresh buying support.
ADB extends $313.6 mn loan for railway projects The Asian Development Bank (ADB) has extended loan of $313.6 million for funding certain railway projects located in the Golden Quadrilateral and its diagonals, the Lok Sabha was informed yesterday (Dec 2, 2004).
More liberalisation, tax reforms in the offing: FM Government will carry out more liberalisation and financial and tax reforms to step up investments, Finance Minister P Chidambaram said yesterday (Dec 2, 2004).
INTERNATIONAL BPO: IMF says India-bashing totally unjustified India-bashing on outsourcing of jobs from America is totally unjustified, in fact the US and Britain have the largest net surpluses in business services and hence would suffer the most in terms of the foregone Dollar value of such trade if other countries cut service outsourcing, an IMF study has said.
