Business News

Edelweiss, Tokio Marine in insurance venture

Edelweiss Capital said on Friday it plans to form a life insurance joint venture with Japanese insurance group Tokio Marine Holdings.

Mundra Port to develop Hazira\'s nonLNG facilities

Mundra Port and SEZ said on Friday it received a contract to develop the nonLNG port facilities at Hazira port in Gujarat.

100cc bike launch to lift motorcycle sales:Honda Motorcycle

Honda Motorcycle and Scooters India (HMSI) may have to set up a second greenfield twowheeler manufacturing facility in India as the company’s existing facility is expected to run out of capacity by the end of this fiscal.

NMDC to produce iron ore from hematite rocks

National Mineral Development Corporation (NMDC) is all set to break new grounds in iron ore mining.

Visa Steel applies for mining leases in Orissa,Chattisgarh

Steel prices may be falling but that of primary raw materials such as pig iron, coke and coking coal continue to remain stable, said Vishambhar Saran, Chairman, Visa Steel.

Sony Ericsson to shut down Chennai unit

Handsetmaker Sony Ericsson on Thursday said it will shut down its development centre in Chennai as part of its move to cut jobs globally.

IIFCL may get 80 mn euro loan from Germany`s KFW

India Infrastructure Finance Co Ltd (IIFCL) is likely to get a credit facility of 80 million euros from Germany\'s KFW, said a top official at IIFCL.

Pantaloon launches up to 5 bln share sale

Pantaloon launches up to 5 bln share sale

Welspun Gujarat launches $50 mn share sale

Pipe maker Welspun Gujarat has launched a USD 50 million share sale to institutions that can be upsized to USD 100 million, two sources with direct knowledge of the deal said on Thursday.

Developing countries ready tariff deal without WTO

As the World Trade Organisation\'s Doha round stumbles into its ninth year with no end in sight, a group of 22 developing countries are poised to clinch their own deal to cut tariffs and boost trade among themselves.

Scripps to buy stake in India\'s NDTV unit for USD 55 mn

US media company Scripps Networks Interactive Inc said it will acquire a majority stake in Indian broadcaster New Delhi Television\'s lifestyle unit for USD 55 million as part of its plan to expand internationally.

Ashok Leyland eyes 1015% market share in LCV seg

R Seshasayee, MD of Ashok Leyland is optimistic about the economic recovery and he sees enough potential for demandgrowth.

Hyundai shelves plans for diesel car plant in Chennai

Hyundai Motors is cautiously optimistic about the Indian market. Although the company is hopeful of maintaining the growth in sales exports, it has shelved its plans for the diesel plant in Chennai.

Big IT to restart hiring come December

IT companies are finally starting to hiring. Infosys, TCS, Wipro and even Patni have begun hiring for 201112, reports CNBCTV18’s Kritika Saxena.

Sebi mulls shortening IPO listing time to 7 days

Market regulator Securities and Exchange Board of India, or SEBI, has put primary market reforms on the fast track. It is now looking to shorten the time between the closing of an IPO and its listing to just 7 days, report CNBCTV18’s Mrinalini Krishna and Priyanka Ghosh.