Black Friday: Gold drops below 12 K level; stock, crude prices collapses

Tracking weak global cues, Stock markets around the globe took severe beating on 
Friday and oil prices plunged to $ 62.85 per barrel, their lowest in more than a year. 

Even gold, the traditional safe haven in times of panic, fell sharply below Rs 12,000-mark, as a rising dollar and stock-market losses forced investors to sell the metal to raise cash.

Standard gold and ornaments dropped by Rs 500 each at Rs 11,950 and Rs 11,700 per ten gram respectively. 

According to market analysts, people are liquidating gold and other commodities as their losses in stock markets deepen. They said the credit crisis and rising concerns of global inflation keep mounting pressure on the stock markets everywhere.

Dish TV launches much-awaited ‘Bhakti Active’ Service

Dish TV launches much-awaited ‘Bhakti Active’ Service Keeping the festive season in mind, Dish TV, a unit of Essel group has finally launched a much awaited religious channel facility christened ‘Bhakti Active’ on its network. 

With the latest introduced service, subscribers would now be able to see live Gurbani from Bangla Sahib and Nanded Sahib, Aarti of Sai Baba from Shirdi, Ganesh Aarti from Siddhi Vinayak, Aarti from Tirupati Balaji, Live Ganga Aarti from Haridwar and Bhasm Aarti of Mahakaal from Ujjain. 

Reliance MF launches “Fixed Horizon Fund-X Series 8’

Reliance MF launches “Fixed Horizon Fund-X Series 8’Reliance Mutual Fund, Country's No 1 fund house, has launched 'Reliance Fixed Horizon Fund- X-Series 8', a close-ended income scheme in the market. The face value of new issue is Rs 10 per unit. 

The primary investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of central and state government securities and other fixed income/debt securities normally maturing in line with the time profile of the scheme with the objective of limiting interest rate volatility. 

Tata Indicom launches Country’s First CDMA ‘Dual channel Radio Phone’

Tata Indicom launches Country’s First CDMA ‘Dual channel Radio Phone’ Tata Indicom, the fastest growing telecom service provider, has announced the launch of the first ever CDMA AM/FM enabled mobile phone in the market.
The newly launched handset comes with a unique radio-inspired design with volume boosters for clarity of sound even in noisy environments. Other than FM frequency channels, the handset comes equipped with AM too, a first amongst CDMA phones. 

ICRA inks MoU with Andhra Bank

ICRA inks MoU with Andhra BankCountry's leading credit rating agency ICRA Limited (ICRA) has signed a Memorandum of Understanding (MoU) with Andhra Bank.

Under the arrangement, ICRA will assign Bank Loan ratings to the Bank's loans and its other exposures under the standardized approach of RBI's New Capital Adequacy Framework for Basel-II. 

ICRA's ratings for the standardized approach would be carried out under its "Line of Credit" rating service and would enable Andhra Bank to assign the new risk weights applicable to its borrowers under Basel-II. 

Kirloskar Brothers JV bags order worth Rs 1446 crore

Kirloskar Brothers JV bags order worth Rs 1446 crore Kirloskar Brothers Ltd has informed that its joint venture christened SCL-INDU-KBL-WEG, has received a contract worth Rs 1446 crore from the Government of Andhra Pradesh Irrigation and CAD Dept. for Pranahitha - Chevella lift Irrigation Scheme-Link VII-Package No.22. 

The scope of work involves Investigation, Designs, Execution of Lift Irrigation Scheme for drawal / Lifting of 11.5 TMC of water in 120 days from foreshore of Kondam Cheruvu near Manchippa Village, Nizamabad (M), Nizamabad District by water conveyor system with all associated components.