The stake of chairman of Satyam Computer Services Ltd, B. Ramalinga Raju and his family declined to 5.13% from 8.27% following large scale selling of shares by the institutional investors. The company is facing trouble since allegations of corruption were made on Mr. Raju while executing some important deals. The World Bank has also banned the company for eight years on the basis of bribery charges.

On Thursday, it was announced by Alok Industries that its board will hold a meeting on 3rd January with the aim to increase the size of the proposed rights issue of Rs 300 crore.  

“There was a need and that is why we decided to increase the rights’ issue size. The present market situation is not good and we did not want to raise funds (in such times). Moreover, we found good interests from our investors for our issue,” informed Dilip Jiwrajka, managing director, Alok Industries.

The solvency margins for unit-linked insurance plans have been eased by IRDA and it is being seen as a move that will help the life insurance industry to save several hundred crores in capital requirement. Solvency margin is the excess of assets over liabilities that an insurer maintains as a prudential measure in the interest of policyholders.

Industrialist Anil Ambani emerged as the biggest loser of the year and tops the list of 'Billionaire Blowups of 2008', compiled by prestigious US magazine, Forbes.

Earlier, he was ranked as the sixth richest person in the world with a net worth of 42 billion dollars by the same magazine. He was also credited to add the maximum wealth within less than a year.

Country's exports reported 10 per cent decline in November, 2008. It stood at $11.5 billions as compared to $12.7 billion in November last year. However, imports increased 6.1 per cent in the same period, leading to a trade deficit of $10 billion.

Country's cumulative exports grew by 19.4% for the period of April-November while the same period posted 33% surge in the imports, leading to a trade deficit of $84.34 billion as compared to $53.19 billion in the same period of 2007-08.

The five year long family dispute of the Bajaj industry group has been resolved amicably. Two groups of companies have been formed without transfer of any cash. The petitions filed by Mr Shishir Bajaj with the Company Law Board in March 2003 have been withdrawn with immediate effect.

Meanwhile, Shishir Bajaj has resigned from the chairmanship of Sevashram, the financial arm of the Bajaj group. In a statement to CLB, Shisir Group said, "With this, all disputes between both sides stand resolved."