Rice prices surged to a fresh 34-year high on Tuesday as the Philippines awarded a tender for the staple at an average price of $708 a tonne, up almost 50 per cent from the price it paid in late January. The sharp rise reflects a market suffering from tightening supply after key producers India and Vietnam this month both imposed further restrictions on rice exports. Supplies from Thailand are also low, traders said.
Tata Motors has succeeded in securing a $3bn banking facility for its purchase of Jaguar and Land Rover from Ford Motor, which should clear the way for the deal to close next week. Tata's ability to raise the money in spite of the turmoil on debt markets represents a vote of confidence in the Indian company and removes one of the last main obstacles to the deal.
Yahoo on Tuesday attempted to bolster its case for an improved offer from Microsoft, releasing stronger-than-expected financial projections to support its decision that the proposed deal had seriously undervalued it. Microsoft made a cash-and-shares offer that was worth $44.6bn, or $31 a share, when it was announced on February 1. The financial plan was first presented to Yahoo's board in December.
It works like this. There is a section in the US called 144A securities, which was launched in August 15, 2007. Trading in 144A securities takes place only among qualified brokers, dealers and QIBs. Retail investors cannot participate in this segment.
The UK group bought a 52 per cent stake in the Indian company in May, which is now called Vodafone Essar. Mumbai-based Essar Group owns 33 per cent, with Asim Ghosh, Vodafone Essar managing director, and Indian businessman Analjit Singh owning the remaining 15 per cent.
However, New Zealand Cricket said the door has been left open for the fast bowler to represent his country again in the future.
Refusing to be cowed by pressure being brought on him, Oil Minister S Jaipal Reddy on Friday said the decision for mining group Vedanta Resources' $9.6 billion buyout of Cairn India will be taken by the Cabinet without "sacrificing" on national interest.
The company plans to offer end-to-end logistics solutions where it has custodial charge of the cargo. Till the back-end warehouse infrastructure is ready at the airline's national hub in Nagpur, Gopinath's freighters will fly the Dubai-Mumbai-Delhi-Hong Kong route, offering dedicated cargo space to freight forwarders and serve anyone who wants to move international freight to these cities for time-definite delivery.
Senior ICL official Ashish Kaul said the New Zealand fast bowler signed a three-year contract.
However New Zealand Cricket chief executive Justin Vaughan said they would do everything possible to get the pacer back.
Six former New Zealand internationals who played in the ICL have effectively been banned from playing for the national team again.
The once state-owned POAS is the leading player in the distribution, marketing and storage of refining petroleum products in Turkey. Besides, several other companies also have a sizeable market share, including BP, ExxonMobil, Shell, Total, and Turkish company Opet. IOC has tied up with Calik Enerji of Turkey to takeover a fuel retailing company in Turkey, a company official said but declined to identify the target company.
India-born steel magnate LN Mittal met Prime Minister Manmohan Singh on December 8 to discuss his plans in the oil and gas sector in India. The meeting has led to reports that Mittal is interested in taking over Cairn India's assets, which includes prospective oil discovery in Rajasthan.
Chandigarh Lions set up a summit clash with Chennai Superstars after beating Delhi Jets by four wickets in the semi-final.
India expects to attract at least $4 billion of investment in oil and gas hunt in the seventh round of auction of acreage under New Exploration Licensing Policy (NELP) which was launched on Thursday.Petroleum Minister Murli Deora announced the offer of 57 oil and gas blocks - nine in shallow water, 19 in deep-sea and 29 onland, in NELP-VII, bids for which will close on April 11, 2008.
Former Australia all-rounder Ian Harvey scored a quickfire 48 to help Chennai Superstars beat Chandigarh Lions by four wickets and seal a semi-final berth in the Indian Cricket League's Twenty20 tournament in Panchkula, Chandigarh, on Saturday.
Former Pakistan opener Imran Farhat struck a brilliant unbeaten 74 to help Chandigarh Lions register six wicket victory over Hyderabad Heroes.
The Indian Cricket League (ICL) finally rolls off the block with Delhi Jets taking on Chandigarh Lions in the inaugural match at the Tau Devi Lal Stadium in Panchlula on Friday.
Stage is set for the Indian Cricket League's (ICL) Twenty20 tournament to take off from November 30 in Chandigarh with a host of former international stars promising to add spice to the rebel series
The BCCI could lift a ban to lure players from an unofficial Twenty20 league into their own lucrative version.
ICL, which is primarily a television property for the Zee group, kicks off on November 30 and is yet to find advertisers.
Chandigarh Lions, Mumbai Champs, Kolkata Tigers, Delhi Jets, Chennai Superstars and Hyderabad Heroes are the six teams that will take part in the inaugural Twenty20 league tournament.
The Indian Cricket League's inaugural Twenty20 championship will be held in Panchkula, Chandigarh, from November 30 to December 16.
The Oil and Natural Gas Corporation plans to invest over US$ 5 billion to produce 25 million standard cubic meters per day of gas from its eastern offshore Krishna Godavari fields by 2013. The state-run firm on Wednesday submitted to the regulator Director General of Hydrocarbons an appraisal programme of the discoveries it had made in the KG offshore basin, putting the in-place reserves at 6.37 trillion cubic feet. ONGC also plans to produce 8,000 barrels of oil per day.
The New Zealand pacer says he's leaning towards signing for the rebel Indian league.
The allotment is expected to attract investments of $1.5 billion, around 57 per cent less than the $3.5 billion commitment for the 52 blocks awarded under the previous auction. ONGC and its partners bagged the maximum number of 20 blocks in the seventh round, which closed on June 30. Australian mining major BHP Billiton and its partner GVK Power, bidding for the first time, won seven deepwater blocks.
Rahul Dravid, Sachin Tendulkar and Sourav Ganguly do not find a place in the preliminary list of candidates for the 2007 ICC awards.
The Indian Cricket League is offering the pace ace a "staggering" sum to play in the tournament.
The ICC said it won't interfere at this stage as the BCCI is the competent authority to deal with the issue.
The ICL is expeceted to lay the cards on the table by revealing the names of the players on Monday.
The company is in the process of doubling its production to 800 oil barrels a day from the current 400 barrels a day, from a part of the field called prospect-B.
CPM leader Tapen Sen has asked Prime Minister Manmohan Singh for a probe into what he called 'artifical inflation' in Reliance Industries' KG-D6 spend and the Mukesh Ambani-run firm's 'manipulation' of gas price.
ONGC signed an agreement with the Norwegian deepwater export to develop deepwater oil and gas blocks on Monday evening.
Global IPOs raise a record $246 billion in 2006.
ONGC Videsh Ltd, a wholly-owned subsidiary of Oil and Natural Gas Corporation, has put in a bid to buy stake in a discovered oil block in Angola, after a consortium of two Chinese companies has already reported to have bid $1.5 billion last month, confirmed a top official of OVL on condition of anonymity.
Utility vehicles manufacturer Mahindra & Mahindra will replace Hero Honda in the country's benchmark index Sensex from July 9.
Market-men expect these offers will compete head to head for investors' fund of over Rs 24,000 crore next month.
The government on Thursday cleared guidelines of the much-delayed FM Radio Phase III expansion that will allow private radio channels to broadcast news of All India Radio and enable revenue generation of Rs 1,733 crore (Rs 17.33 billion) from the auction of license for services in 227 cities.
The NSE index, Nifty, hogged the limelight on Monday as the index scaled a new all-time intra-day high of 4269. The index also settled at a record level of 4,261 -- up 46 points.
More than 42 per cent of the funds mobilised through initial public offers in the last one year are idling away either in banks or debt schemes.
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