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Several industrialists and business groups have started securing approvals from their board of directors before getting their hand-picked entities to file applications for new banking licences that will be awarded by March next year if all goes well.The boardroom strategies are being worked out after the Reserve Bank of India issued clarifications earlier this month on a hot-button subject that has...
Source : Telegraphindia | 2 Hour(s) AgoCategory : frontpage | City : Mon
rupee today sank by 90 paise to an all-time closing low of 58.77 on massive dollar buying by banks and importers as forex markets became jittery ahead of the Fed’s decision on continuing monetary stimulus. Capital outflows also affected the market sentiment with FIIs offloading shares worth over Rs 750 crore in two days, amid talks of continuing sell-off in debt as well.Haldia Petrochemicals Ltd (HPL)...
Source : Telegraphindia | 2 Hour(s) AgoCategory : frontpage | City : Mon
Private sector lender Kotak Mahindra Bank is looking to generate business worth Rs 165 crore to Rs 170 crore in 2013-14 from the rich through its premium banking offering — privy league.The product will offer special financial solutions in banking, financial planning and investment.“The affluent banking consumer pool in India is large and growing fast,” Kamlesh Rao, executive vice-president of Kotak...
Source : Telegraphindia | 2 Hour(s) AgoCategory : frontpage | City : Mon
Boeing has launched a larger version of its flagship Dreamliner aircraft at the Paris Air Show on Tuesday, intensifying the battle with rival Airbus in the booming market for fuel-efficient, long-haul jets.The hotly anticipated announcement of the 787-10 Dreamliner, with 102 firm orders worth nearly $30 billion at list prices, is a vote of support for the lightweight, carbon-composite jet just months...
Source : Telegraphindia | 2 Hour(s) AgoCategory : frontpage | City : Mon
Vodafone India has reduced 2G data charges by up to 80 per cent in three circles, and the revised rates will be rolled out gradually across the country.The telecom operator has reduced the price to 2 paisa per 10kb from 10 paisa per 10kb in the Karnataka, UP West and Madhya Pradesh and Chhattisgarh circles.“The rate cut from 10p/10kb to 2p/10kb will make Internet access affordable for customers who...
Source : Telegraphindia | 2 Hour(s) AgoCategory : frontpage | City : Mon
ICICI Bank, the country’s second largest bank, has entered the Chinese debt market with an issue of over $100 million.According to sources, the private sector bank’s three-year benchmark issue for offshore Chinese investors will be denominated in the renminbi or yuan.This is the third issue by ICICI Bank, and it is the second domestic lender to sell bonds to offshore Chinese investors after IDBI B...
Source : Telegraphindia | 2 Hour(s) AgoCategory : frontpage | City : Mon
Budget carrier IndiGo has yet again clocked the highest market share of 29.5 per cent in domestic air traffic in May.The airline is followed by Jet Airways and its subsidiary JetLite with 22.5 per cent.IndiGo also managed to regain the top spot in seat occupancy with an 89.6 per cent passenger load factor.During May, SpiceJet came third with a market share of 19.8 per cent, followed by Air India (...
Source : Telegraphindia | 2 Hour(s) AgoCategory : frontpage | City : Mon
government is actively pursuing a hike in natural gas prices to speed up investment in oil and gas exploration. At the same time, state-owned GAIL is negotiating to sell LNG to Pakistan.A draft note from the petroleum ministry, which seeks to raise the price of gas produced in domestic fields to a possible $6.77 per mBtu (million British thermal unit) from $4.2 per mBtu, has been circulated to other...
Source : Telegraphindia | 2 Hour(s) AgoCategory : frontpage | City : Mon
Karvy Capital has decided to float a “hedge fund” that is being touted as the first of its kind in the country.The asset management arm of financial services provider Karvy Group said it would target high net worth individuals and select institutions as potential investors.Hedge funds pool investors money and invest them in varied instruments that include both listed and unlisted securities, derivatives...
Source : Telegraphindia | 2 Hour(s) AgoCategory : frontpage | City : Mon
Bangladesh’s main Opposition party has swept crucial mayoral polls in four major cities ahead of the general elections in a major debacle for the ruling Awami LeagueCandidates belonging to the Bangladesh Nationalist Party (BNP) of former Prime Minister Khaleda Zia defeated candidates from Premier Sheikh Hasina’s Awami League with a big margin in all the four cities of northwestern Rajshahi, southwestern...
Source : Telegraphindia | 2 Hour(s) AgoCategory : frontpage | City : Mon
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