Reader Sharad Mehrotra sent us this picture from Switzerland.
Mumbai born British sculptor Anish Kapoor's untitled work fetched a reported sum of over Rs 1 crore (Rs 10 million), one of the most expensive exhibit among those by 500 artists at the ongoing India Art Summit in New Delhi.
Mahesh Bhupathi and his Bahamian partner Mark Knowles continued their rampaging form to lift their fourth ATP title together, beating seventh seeds Max Mirnyi and Andy Ram in straight sets in the finals of US$ three million Rogers Cup in Montreal. The third seeds won 6-4, 6-3 to clinch their first title at an ATP World Tour Masters 1000 tennis tournament on Sunday.
Roger Federer's wife Mirka has given birth to twin girls, the world number one announced on his website on Friday.
Factfile on Switzerland's Roger Federer, who won a record 15th Grand Slam title after winning Wimbledon with a 5-7, 7-6(6), 7-6(5), 3-6, 16-14 defeat of American sixth seed Andy Roddick on Sunday.
Twice Wimbledon champion Serena Williams hailed Michael Jackson on Friday as "the celebrity of all celebrities" and said she was not worthy of having her name mentioned in the same sentence as the late singer.
The industry's reactions to the Budget have been mixed.
Plans to increase headcount in the US, mainly in the banking and finance vertical.
The commerce ministry must talk to the Reserve Bank of India and see how India's view can be represented and exporters' interests best protected.
There are a number of factors that helped India remain relatively unscathed. Some of them are to do with RBI and some of them are to do with the Indian economy.
The Reserve Bank of India (RBI) will set up a "financial stability unit" for drawing upon inter-disciplinary expertise from across various departments for carrying out periodic stress testing and preparing financial stability reports.
At a time when crackdown on tax havens has acquired a political colour, data shows that Swiss banks held securities worth $3.35 trillion in 2008, with over half managed on behalf of foreign entities.
If Germany are to land a fourth European Championship and their first major title since 1996 coach Joachim Loew will have to cut out this worrying tendency towards complacency.
Late, late goals have been key to Turkey reaching the Euro 2008 semi-finals along with their ability to cope with a string of injuries and suspensions.
The sharp rise in the number of structured products rated caused the revenues of leading rating agencies to jump. The quality of these exercises is today reflected in the vastly devalued status of those products. Rating in India can come into its own when there is lot more of debt to be rated, creating enough volumes for the agencies.
Substitute Fredy Guarin gave former European champions Porto a late 2-1 Europa League win at Sevilla on Thursday while their old rivals Benfica beat VfB Stuttgart by the same score.
State-owned ONGC is talking to world's leading chemical firms, including Itochu Corp of Japan and the two UK-based companies -- Ineos and Lyondell Basel -- for a strategic partnership in the Rs 12,440-crore (Rs 124.40 billion) petrochemical plant, which one of its units is building at Dahej in Gujarat.
The meeting comes days after the finance minister told Parliament that he would discuss the possibility of further fiscal and monetary measures to revive economic growth, which is projected to fall to 7.1 per cent this year, as against 9 per cent or more in the last three years. The Central Statistical Organisation is due to release the third-quarter gross domestic product estimates by the end of the week. RBI is expected to announce more measures after the data is released.
Under the recapitalisation package Central Bank of India will get Rs 1,400 crore (Rs 14 billion), while UCO Bank and Vijaya Bank will get Rs 1,200 crore (Rs 12 billion) each, home minister P Chidambaram told reporters after the Cabinet meeting in New Delhi. Under the recapitalisation package Central Bank of India will get Rs 1,400 crore (Rs 14 billion), while UCO Bank and Vijaya Bank will get Rs 1,200 crore (Rs 12 billion) each.
Finance Minister P Chidambaram said on Tuesday the inflow of foreign funds in the banking system was not disorderly and could be channelled for productive use. There was large inflow of capital mainly from export earnings, remittances, foreign direct investment, foreign institutional investments and private equity, he said.
On other counts, however, RBI has not found merit in the commerce ministry's argument to keep loans for SEZ development outside the ambit of commercial real estate exposure. It has reiterated that bank exposure for purchase of land for an SEZ and its development, will be classified as commercial real estate, while infrastructure development will not be treated in the same manner.
The standalone net sales of the petrochemical giant grew 80 per cent to Rs 56,856 crore (Rs 568.56 billion), from Rs 31,563 crore (Rs 315.63 billion) in the corresponding period a year ago, RIL said in a filing to the National Stock Exchange.
Entrusted with the responsibility of tightening regulation and supervision in global banks that suffered huge losses - now estimated at over $1 trillion -- during the last one year, the Basel Committee on Banking Supervision has embarked on a series of measures to ensure proper regulation within banks. It has suggested forward-looking risk assessment by banks to avoid financial crises in future.
These bonds carry AAA/stable rating from Crisil. The tenure of this paper is expected to be 10 years. "The yields on the 10 year government bonds dipped from around 8.6 per cent at the end of September to about 5.7 per cent now. Hence, the bank will save on costs as it will be in a position to place bonds at lesser rates now," a senior SBI official said.
Reliance Industries (RIL), which raised Rs 2,675 crore (Rs 26.75 billion) through the sale of treasury shares on Monday, is looking to generate a similar amount over the next few weeks by selling more stock to institutional investors.
The government today said it will look into the matter relating to a ship named SS Oceanic carrying 250 tonnes of asbestos, which is reported to be heading towards the Alang shipbreaking yard in Gujarat.
The central bank said it will also enhance the bank-wide supervisory oversight to examine readiness of banks to face turbulent times like the financial crisis and downturn that has gripped the global economy. The supervisory review of exposure of the banking system to specific sectors may become an integral part of the ongoing supervision of banks, it added.
The bank plans to raise unsecured and rated Rupee Innovative Perpetual Debt Instruments, upper Tier or Lower Tier II subordinated debt during the remaining part of 2008-09 and 2009-10, SBI said in a filling to the National Stock Exchange. The fund not exceeding Rs 18,000 crore (Rs 180 billion) would be raised in tranches with a minimum maturity of over 60 months as per the RBI guidelines through structured deals or by private placement, it said.
Chelsea completed a clean sweep for English teams in the Champions League group stage after beating Cluj 2-1 on Tuesday to join holders Manchester United, Arsenal and Liverpool in the last 16 of the competition.
Bobby Zamora and Bjorn Helge Riise twice combined to set Fulham on their way to a 3-2 win at snowy Basel on Wednesday, sealing the London club's berth in the final 32 of the Europa League. Hertha Berlin, in last place in the Bundesliga, scraped through thanks to a 1-0 win at home to Group D winners Sporting and Panathinaikos of Greece secured second place in Group F when Djibril Cisse scored two in a 3-0 win over Dinamo Bucharest.
Barcelona have the chance to secure top spot in Champions League Group C and prove they are not dependent on striker Lionel Messi to win matches when they visit Sporting on Wednesday. Barca's nine-match winning streak in the Spanish Primera Liga came to an end with a 1-1 draw at home to Getafe on Sunday, as Pep Guardiola's outfit struggled to open up their well-organised opponents.
It plans to make Hyderabad as its back office hub for data management in clinical research and financial service segments. Novartis is putting infrastructure to put all these people in one place and the centre is expected to turn operational next year. It will be the back office for Novartis' pharmaceutical operations and will find many PhDs and post-graduates working there, said Jurgen Brokatzky-Geiger, head (human resources), Novartis.
Striker Julio Cruz headed in 10 minutes from time to spare defender Nicolas Burdisso's blushes and give Inter Milan a 3-3 draw at Anorthosis Famagusta in Champions League Group B on Tuesday. A win would have put the Serie A champions through to the last 16 but instead the group leaders gifted Anorthosis three goals.
Steven Gerrard scored a controversial penalty deep into injury time to earn Liverpool a 1-1 draw with Atletico Madrid in Champions League Group D on Tuesday. The Liverpool captain converted from the spot after he was challenged in the box by Mariano Pernia and Swedish referee Martin Hansson awarded a debatable penalty kick.
Two goals by Mirko Vucinic guided AS Roma to a surprise 3-1 win over last season's runners-up Chelsea in the Champions League on Tuesday. Former Chelsea defender Christian Panucci tapped in the first from close range on 34 minutes and Montenegro striker Vucinic struck twice at the start of the second half as Roma ended a run of five consecutive defeats. The Londoners pulled one back through captain John Terry in the 75th.
Group C leaders Barcelona should make it four wins from four matches against pointless Basel on Tuesday in the Champions League, while holders Manchester United can book their last 16 place with victory at Celtic.
Roger Federer won his hometown tournament for a record third straight year Sunday by beating Argentine second seed David Nalbandian 6-3 6-4 in the Swiss Indoors final. The world number two broke Nalbandian once in each set, easing through a one-sided encounter to maintain his dominance at the tournament where he once worked as a ballboy.
James Blake beat German Nicolas Kiefer 3-6, 6-3, 6-4 in the first round of the Swiss Open to keep his Masters Cup qualifying chances intact.
Roger Federer made heavy work of his first-round match in his home city tournament in Basel, before seeing off Bobby Reynolds 6-3, 6-7, 6-3.
Stanislas Wawrinka fluffed two match points, crashing out 3-6, 7-6, 7-6 to Germany's Benjamin Becker in the first round at Swiss Indoors.
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