NATIONAL Worst is over on inflation, assures Chidambaram Painting a rosy picture of the economy, Finance Minister P Chidambaram today (Dec 9, 2004) told the Lok Sabha that although inflation was a "problem", the "worst is over" with global crude oil prices beginning to moderate.
Mukesh willing to discuss separation of Reliance? In yet another twist to the Ambani versus Ambani battle, elder brother Mukesh was today (Dec 9, 2004) reported to be willing to discuss the separation of the business empire but sources close to Anil ruled out compromise over the flagship company Reliance Industries Limited.
Industry sources said Mukesh was willing to discuss the management and ownership control of Reliance companies other than RIL as part of efforts to reach a settlement with Anil.
Seagate strengthens market share leadership in India Seagate Technology, leading global supplier of hard disc drives, today (Dec 9, 2004) announced it increased its market share in India to 72.4 per cent in the September quarter of 2004, compared to 61 per cent in the previous quarter.
Ambani tussle: FIs play safe - to seek a Board seat Amidst the proxy war between the Ambani brothers for the control of the Reliance empire, indications emerged today that the Life Insurance Corporation (LIC) and other Financial Institutions (FIs) may push for a seat on the Board of Reliance Industries Limited, the Group's flagship company.
Market bounces back by 43 pts on fresh FII purchases A fresh bout of buying spree helped the market bounce back with a vengeance after resisting pressure for the last three trading sessions and end higher by 43 points today (Dec 9, 2004) even as retailers and traders were forced to cover short positions during the day.
The BSE Benchmark 30-share Index opened moderately higher at 6274.24 and later fluctuated between 6319.01 and 6241.27 before ending the day at 6304.27 as against yesterday's close of 6261.52, a net gain of 42.75 points or 0.68 per cent.
Govt monitoring prices of petro products: Aiyar Government is constantly monitoring and keeping under careful review prices of all sensitive petroleum products, Lok Sabha was informed today (Dec 9, 2004).
CPI seeks Centre's intervention in Ambani tussle Expressing serious concern over "vitiating" corporate atmosphere in the country following the ongoing tussle between the two brothers of the Ambani family, CPI (Communist Party of India) today (Dec 9, 2004) sought Centre's intervention on the plea that it was affecting FDI (Foreign Direct Investment) flow, stock market and the investors.
Bank director Advani remanded to police custody A local court today (Dec 9, 2004) rejected the bail application of former director of Jai Hind Co-operative Bank Ashok Advani and remanded him to police custody till December 23.
Sensex shows erratic movements during early trading The Sensex moved erratically after a promising start in volatile activity during morning trading at the Bombay Stock Exchange (BSE) today (Dec 9, 2004) on alternate bouts of buying and selling by local investors.
INTERNATIONAL Honeywell to shift jobs to India, says Labour Union The US-based Honeywell International Inc, a diversified technology and manufacturing company, is planning to move 5,000 aerospace division jobs to lower cost countries, including India, over the next five years, a Seattle-based labour union opposed to off-shoring has claimed.
Lakshmi Mittal tops Forbes list of rich Indians Wipro chief Azim Premji, Reliance's Mukesh and Anil Ambani, London-based steel magnate Lakshmi Mittal and, the only woman, Biocon's co-founder Kiran Mazumdar Shaw, are among the forty who figure in the Forbes magazine's maiden list of the richest Indians worldwide.
