NATIONAL FM hints at merger of some big public sector banks Union Finance Minister P Chidambaram today (July 1, 2005) indicated the Government's intention to merge some of the big public sector banks to make them giant-sized ones competing at global level.
BSE: Sensex touches new historic-high of 7228.57 The Sensex today (July 1, 2005) breached all previous records and soared to a new life-time high of 7228.57, before closing at an all-time high of 7210.77 points on the Bombay Stock Exchange (BSE) due to heavy buying by foreign funds in index heavyweights and maintained its three-day gaining streak.
We aren't rocking boat for existing traders: Nath Union Commerce Minister Kamal Nath today (July 1, 2005) asserted that the Government did not want to 'rock the boat' of the retail sector in India on the issue of allowing FDI in retail business and said it was evolving a 'model' to 'securitise' the existing traders.
Tatas-owned VSNL completes acquisition of Tyco Tatas-owned Videsh Sanchar Nigam Limited (VSNL) today (July 1, 2005) completed the acquisition of undersea cable network company Tyco Global Network, a move that would provide VSNL more bandwidth for providing connectivity to carriers and other businesses like IT and BPO.
India must gear up for competition from US: Premji Optimism about the Indian economic scenario in the world makes it all the more necessary for India to be prepared to face competition from countries like China and the United States, Wipro Chairman Azim Premji said.
'Govt looking at investors to set up fab facility' Government is looking at potential investors and studying successful models adopted by Taiwan and China on establishing a fab facility in India, Union Finance Minister P Chidambaram said today (July 1, 2005).
Inflation at an almost 2-year low of 4.1 per cent Reversing its very short upward trend, inflation fell by 0.23 per cent to touch about two-year low of 4.10 per cent for the week ended June 18 even as food items and manufactured products become costlier.
Income tax collections fall 29 per cent till Jun 23 Centre's income tax collections have recorded a 29 per cent decline, but corporate tax showed a whopping 166 per cent rise till June 23 of this fiscal against the corresponding period of 2004-05.
BJP demands White Paper on petrol diesel prices Stepping up its campaign, Bhartiya Janata Party (BJP) yesterday asked the United Progressive Alliance(UPA) Government to come out with a White Paper on the petrol diesel prices.
SBI expects $90-100 mn profits from overseas ops State Bank of India (SBI) is expecting to earn profits in the region of $ 90-100 million from its overseas operations in the current fiscal and will work to maintain net interest margins at around 3.5 per cent to strengthen bottom line.
Sensex up 22 pts, crosses 7200 mark at early trade The Sensex today (July 1, 2005) started weak but soon recovered smartly and crossed the 7200 mark at the opening session on the Bombay Stock Exchange (BSE) as pivotal shares attracted heavy buying at lower level from Foreign Institutional Investors (FIIs) and rallied.
INTERNATIONAL FICCI and SIBC sign MoU to promote bilateral trade Federation of Indian Chamber of Commerce and Industries (FICCI) and the Sweden Indian Business Council (SIBC) have signed a Memorandum of Understanding (MoU) to promote bilateral trade and investment.
