Business and Economy
Sensex falls as serial blasts hit IT capital: Banagalore
By ranjanp at 25 July, 2008, 11:36 am
Bangalore - The IT capital of India was hit by serial blasts today. Various sources put the blasts tally between 7 - 9 as 2 people were killed and several others were injured. Police said the city was on high alert for more attacks, with bomb disposal teams and forensic experts rushed into action. Authorities [...]
Read More >>Rating Agency Fitch Lowers India to BBB-, Almost Junk Bond Rating
By arunr at 16 July, 2008, 8:46 pm
New Delhi — The sovereign debt of India is almost at junk bond levels. Fitch Ratings downgraded India’s local-currency debt outlook to negative from stable, while maintaining a BBB- grade, the lowest investment grade, one step above speculative — or junk — status. The move came close on the [...]
Read More >>US billionaire invests Rs 345 crores in SpiceJet
By ranjanp at 15 July, 2008, 12:38 am
U.S. billionaire investor Wilbur Ross, who made his fortune taking over bankrupt steel, coal and textile companies, will invest 345 crore rupees ($80 million) in SpiceJet Ltd., his first investment in an Indian airline. WL Ross & Co. will make the investment and Ross will join SpiceJet’s board, according to a statement by India’s second- [...]
Read More >>Costs double for container terminal in Kolkata
By arunr at 14 July, 2008, 11:12 pm
Kolkota, West Bengal — The estimated costs of the new proposed container terminal in Kolkata has doubled in the last year.
The estimated construction cost of the proposed container terminal at Diamond Harbour dock on the river Hoogly, 40km downstream from Kolkata, has more than doubled from Rs. 500 crore to Rs 1233 crore. This will [...]
Read More >>
