IBT Staff Reporter

144811-144840 (out of 154954)

Bharat Oman Refineries IPO set for launch

Bharat Oman Refineries Ltd (BORL), an equal joint venture between state-owned Bharat Petroleum Corporation Ltd (BPCL) and Oman Oil Co., is set to raise about Rs.2400 crore ($600 million) by tapping the primary market as well as through a pre-IPO placement, to part finance a Rs.10,400 crore ($2.6 billion) refinery project at Bina, Madhya Pradesh.

BSE Sensex fizzles, ends down 1 percent

The prime index of the Bombay Stock Exchange (BSE) failed to carry on the upward momentum it had set on Monday, by ending down 1.08 percent or 19.46 points on Tuesday, tracking weak global cues.

Coca-Cola Brings Cola Wars to India

Coca-Cola Inc. is set to invest about Rs.1000 crore ($250 million) in India over the next three years to keep pace with its rival PepsiCo Inc., which presently dominates the local $1.75 billion soft drinks market.

Japan Stocks Dropped On Profit-Taking

Japan stocks dropped Tuesday as investors began to raise fears about global economy and situation of Beijing Olympic. Also some investors sold stocks for profit-taking before earnings season. Many investors expect results of Japan and U.S. companies' quarterly earnings will not be so profitable.

S&P Cuts Ratings for 4 Mortgage Insurers

Standard & Poors Ratings Services, downgraded its credit ratings for four mortgage insurers late Tuesday citing a weaker than expected housing market and rising unemployment.

China 1Q car sales over 1.37 million

China's domestic automobile market increased in March as the impact of snowstorm weakened. The domestic car sales in first quarter increased by 22.52 percent as compared with the same period last year, to reach 1.37 million totally.

Konica Minolta Buys Danka Imaging for $240mln

Konica Minolta Business Solutions USA Inc., a unit of Tokyo-based Konica Minolta Holdings Inc., said Tuesday it has agreed to buy a subsidiary of Danka Business Systems PLC, in a deal valued at $240 million.

FTSE falls early on Tuesday

The FTSE 100 share index fell early on Tuesday. At 08:34 on Tuesday the FTSE 100 was down 41.2 points to 5,973.6 (down 0.7 per cent).

BT new CEO announced

BT Group has announced that the head of BT Retail will be succeeding Ben Verwaayen as chief executive of the group on 1 June 2008. Verwaayen is to leave the board of BT completely on 30 June.

Gold sale season IMF to sell 14 million ounces

By Jon A. Nones SEATTLE (ResourceInvestor.com) The Executive Board of the International Monetary Fund has endorsed a new package of measures to shore up finances, which includes the previo...

Apple Falls on Downgrade

Apple saw its shares fell on Tuesday as one Wall Street analyst called investors to sell their shares of the popular electronics maker.

Gold not to act as a medium of exchange

By Julian D.W. Phillips The focus in the Gold Market has always been on the Dollar price of gold, writes Julian Phillips of the Gold Forecaster. And yet we have ample evidence of why we shou...

Why is Tata Power silent on Mundra power plant?

By Sreekumar Raghavan MUMBAI: Why is Tata Power Co Ltd silent even as environmental groups have urged World Bank to rethink about funding the $4.5 bn 4000 MW ultra mega coal powered Mundra...

Dollar Flat Against the Euro after Fed Minutes

The dollar was flat against the euro in late trading on Tuesday after a slight decline earlier in the session following the released minutes from the Federal Reserve's policy meeting last month.

American Airlines Cancels Hundreds of Flights

American Airlines, the world's largest carrier, said it was canceling as many as 500 flights on Tuesday, and possibly Wednesday, as the airline struggles with further government inspections of its MD-80 aircrafts.

Citi to Sell off $12bn of Leveraged Loans

Citigroup is close to concluding a deal to sell off $12 billion of leveraged loans and bonds at a discount rate to a group of private equity firms, as it moves towards clearing off soaring company debt.

News Corp. Acquires UK's Utarget

Fox International Channels, News Corp.'s pay television unit outside the U.S., acquired a 56 percent stake in European online video advertising network Utarget in an effort to increase its international ad revenue.

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