Reliance Mutual Gets Back On Track

Reliance Mutual FundThe fight for the leading outlook in the mutual fund business s

RBI Rate Increase Turns Car Loans Pricey

Reserve Bank of IndiaWith RBI rates increase, car loan providers have raised interest rates by 75 to 100 basis points. The enhancement would mean a monthly increase of Rs 50 for a five-year loan having a daily rest basis.

ICICI Bank’s direct selling agents (DSAs) said they have accepted an official report from the bank on the cost increase effective from Monday. Rack rates are inclusive of DSA commissions.

The officials stated, “We used to lend at rack rates of 15% per annum, we are now been told that the new rates will be 16% effective from Monday.”

Is Mumbai Ready To Be A Global Financial Hub Or Not?

Is Mumbai ready to be a global financial hub or not? This question will be answered by the Union Cabinet shortly.

There are a number of recommendations to enable Mumbai join the league of London, New York and Singapore as one of the premier IFCs of the world, from the high-powered expert committee (HPEC) on making Mumbai an international financial centre (IFC). The report submitted to the FM (finance minister) on Tuesday will be out before the Cabinet shortly.

According to HPEC, the Indian purchases of international financial services (IFS) touched $13 billion in 2005 and are expected to be in the range of $50-70 billion by 2015. Therefore, it has been stated that “if the country does not proceed on establishment of an IFC, the revenues will go to other IFCs”.

Rupee Could Become Dictating Asian Currency

Currency of IndiaThe foreign broking firms opine that the Indian currency could become commanding currency in Asia. This reckoning came a day after an expert committee made out a case on Monday for making the rupee fully convertible before the end of 2008.

Air India-Indian Employees To Get Employee Stock Options

The Air India-IndianAir India amalgamation, blustered as the major conjoining in the Indian skies. It may bring a windfall to more than 32,000 workforces of both the companies. Post-merger, the administration is planning to give out employee stock options (Esops) to their employees.
A government official stated that the newly engaged company is named as ‘National Aviation Company,’ which owns up 7.32 crore shares, and a paid-up capital of Rs 73.25 crore.
The total number of shares has been attained after arrogating an exchange proportion of 8:1 that entails eight shares of the blending groups equivalent one share of the new entity.

Microsoft Bandages Ani Vulnerability

The Tuesdays’ Microsoft Corp.Microsoft "critical" out-of cycle security update release has fi

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News in Focus

Blade Battery-powered Tang coming to Norway in late summer: BYD

BYD Co Ltd, fast-growing electric automobiles manufacturer from China, has revealed more information about the Tang crossover SUV that is expected to hit Norway public roads sometime in late summer

Rahul Mohindar: BUY Hindustan Unilever; SELL SBI and HDFC

Market analyst Rahul Mohindar has suggested one BUY Call and two SELL Calls for today’s trading session.

Mitesh Thakkar: BUY Apollo Hospitals, Shree Cement, ICICI Prudential; SELL JSPL

Market analyst Mitesh Thakkar has suggested three BUY Calls and one SELL Call for today’s trading session. Indian markets have closed negative on Thursday as global markets have turned bearish.

Mercedes to do away with some existing models to focus on EVs

Luxury automaker Mercedes-Benz has confirmed that it will do away with some coupes and convertibles to be able to focus on designing and developing zero-emissions vehicles.

Europe’s changing regulatory landscape prompting automakers to go all-electric

Amid a changing regulatory landscape, a growing number of automakers are accelerating their shift from conventional internal combustion engines (ICEs) to EVs.

Fastned raises €150 million though accelerated bookbuild offering to qualified investors

Pushing ahead with its expansion plans, European EV fast-charging network developer Fastned has successfully raised €150 million though an accelerated bookbuild offering to qualified investors.