Money :

Pakistan agrees to grant Most Favoured Nation status to India: Report A senior official of the Ministry of Trade said on the condition of anonymity that the status of MFN would be granted during the current year.

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August 27, 2011

Facebook ending Deals product after four-month test

Facebook is getting out of the daily deals business after four months of testing, a move that may ease some competitive pressure on industry leaders Groupon and LivingSocial.

'There is good value in the banking sector at present'

Raamdeo Agrawal, joint managing director of Motilal Oswal Financial Services, believes the recent correction in the banking sector has left a lot of value on the table for investors.

NMDC gets time till September for Legacy Iron Ore bid

Mining company NMDC plans to complete the bidding process for acquiring a 50% stake in Australian mining company Legacy Iron Ore sometime in September.

Apollo Hospitals to raise capacity 25%

Healthcare major Apollo Hospitals is increasing capacity by one-fourth, or 2,400 beds, at its various hospitals from the current 9,000 beds, The expansion would cost the company Rs1,500 crore.

August 26, 2011

Kingfisher okays $434 million rights share issue

The company, promoted by liquor baron Vijay Mallya, gave no timing or details of the proposed issue.

Bloomberg to buy legal research firm for $990 million

Bloomberg LP plans to buy legal tax and regulatory research company BNA for about $990 million as it shores up its legal business in a direct aim at rivals Thomson Reuters and Reed Elsevier.

S&P says market sentiment had weakened before US downgrade

S&P earlier this month cut the US rating and said the outlook remained negative, sparking a rout in global stock markets.

Sensex ends below 16000 after 18 months; down 297 points

The Sensex, which had lost points in the last two trading sessions, fell further to 15,848.83, a level last seen on February 10 last year.

August 25, 2011

Gold prices fall by Rs1,840 per 10 gm; biggest single-day drop

After climbing to the all-time high of Rs28,145 mark earlier this week, gold prices witnessed the biggest one-day drop on frantic selling by investors.

Investors undaunted as Apple's Steve Jobs steps aside

In announcing he could no longer fulfill his duties, Jobs stepped away from his CEO duties and cleared the way for Tim Cook.

Madhavpura Bank gets life, conditions apply

Board gets indefinite extension but RBI puts restrictions on it under Article 35 (A). This means bank can’t accept new deposits but investors can hope to get back their money.

RBI warns of high prices, low growth ahead

The apex bank said inflation will remain at elevated levels for some more time while the economic growth rate will moderate in the current fiscal.