Financial Daily from THE HINDU group of publications
Saturday, January 07, 2006
Commodities (Jan 05)
Gold (per gram) Rs725
Silver (per gram) Rs14.75
Brent crude (per bbl) Rs2772
Markets (January 6)
BSE Sensex9640.29 (+22.55)
S&P CNX Nifty2914 (+14.15)
US Dollar (Buy/Sell)44.53/69.78



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CCEA cuts PDS foodgrains quantity, hikes issue price — Divestment in NMDC, NLC on hold
THE Cabinet Committee on Economic Affairs (CCEA) today deferred a decision on disinvestments in National Mineral Development Corporation (NMDC) and the Neyveli Lignite Corporation Ltd, indicating that it had taken note of the opposition of the ... More

29 cos participate in FM radio bidding — Govt likely to mop up over Rs 500 cr
THE Government has kicked off the second phase of FM radio privatisation with over 29 companies participating in the financial bidding process for 64 frequencies in 13 metros and key cities. Initial estimates suggest that the Government is likely ... More

Tulip IT Services: 25 p trades to be settled at Rs 171.15
THE BSE today said some trades executed at 25 paise in the shares of Tulip IT Services on Thursday will not be settled at this rate. The exchange said trades executed below Rs 96 would be transacted at Rs 171.15. This means that investors who ... More

Forex reserves fall by over $6 b due to IMD redemption
THE redemption of India Millennium Deposits (IMD) left its mark on the country's foreign exchange position for the final week of 2005, with reserves down by $6.844 billion after the central bank sold foreign exchange to SBI for redeeming ... More

Edit pictures, get scammed
EDIT seven pictures on Adobe Photoshop, a common software, and walk away with Rs 7,500 per month. Too good to be true? For about 5,100 people, mostly students in Ahmedabad, it was exactly that as they fell prey to a Ponzi scheme that allegedly ... More

Remittances Gateway for overseas Indians planned
AIMED at leveraging the growing remittances into the country from the overseas Indians at a whopping $21 billion, the Finance Ministry is planning to set up a Remittances Gateway and announce the details of the facility at the Pravasi Bharatiya ... More

Outsourcing demand to remain strong: Forrester
Maintenance, custom development top list

THE demand for outsourcing software-related work is expected to remain strong with clients continuing to outsource applications maintenance and custom application development, and undertaking several consulting projects over the next 12 months, a ... More

Threat from cheaper Chinese handsets — DoT backs move to put mobile imports on watch list
THE Department of Telecom has backed the industry demand to include mobile handsets, parts, components and accessories on the Government's `war room' watch list to counter dumping of cheaper products from China. The Government had set up the "war ... More

`Chinese reforms to enable Indian law firms to set up office'
LEGAL reforms in China are in the offing to facilitate Indian legal firms to set up shop in China and to help Indian companies establish their manufacturing base without any legal hindrance, according to Mr Jin Shan, Vice-President, All China ... More

Bycell proposal among FDI worth Rs 741 cr okayed
THE Government today approved 44 proposals involving FDI worth Rs 741 crore including those of Swiss telecom major Bycell, CDC, Citigroup, Standard Chartered Bank, British Gas, and Adidas. The proposals that the Finance Minister, Mr P. ... More

2005 saw 30 m more phone subscribers
TELEPHONE subscriber base went up by 5 million users in December, taking the total tally to nearly 125 million. More than 30 million new users were added during 2005, making it the highest addition in any single year. With this, tele-density ... More

A PC for Rs 3,500!
NOVATIUM, a company incubated by a telecom group set up by the faculty of IIT (Madras), has developed a network personal computer (PC) that would cost just Rs 3,500. The PC, which will be connected by a common server, will have no virus ... More

Record sugar recovery likely in Maharashtra
SUGARCANE crushing in Maharashtra is expected to be around 410 lakh tonnes (lt) during the current season 2005-06 (October/September). So far, 138 sugar mills (116 co-operative and 22 private) have crushed 200 lt of sugarcane and produced 21.50 ... More

North shivers, awaits next westerly system for respite
THOUGH freezing from the cold wave set off by a passing western disturbance, the north and northwest of the country are ironically left waiting for a successor system whose warm, rising air in the front could offer some respite from the harsh ... More

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