September 2: Snapshot for the Day
September 2: Snapshot for the Day
A labourer works in a ferrochrome factory at Bharibramna, 20 km (12 miles) west of Jammu
State-run Steel Authority of India Ltd has shortlisted Deutsche Bank, JP Morgan and four others to manage a share issue that may raise up to $1.7 billion, sources with direct knowledge said on Thursday.
Other bankers shortlisted by the largest domestic producer of the alloy are HSBC, SBI Capital, Enam Securities and Kotak Mahindra Capital, the sources, who could not be named as they were not authorised to speak to the media, said.
Officials at SAIL in New Delhi and the shortlisted banks were not immediately available for comment.
The government plans to sell 5 percent in the company, while SAIL will issue new shares equal to 5 percent of its existing share capital. The government owns about 86 percent in the firm, which can produce 15 million tonnes of steel a year.
The sale is likely to be launched in January.
The Wipro campus is seen in Bangalore June 23, 2009. Wipro Ltd has appointed billionaire founder-chairman Azim Premji's oldest son, who is widely seen as heir apparent, as chief strategy officer in a move that could touch off more restructuring at the company
Harvard-educated 33-year-old Rishad Premji is currently general manage of treasury and investor relations at the third-largest outsourcer of IT services. He will take over from K.R. Lakshminarayana effective Jan. 1, 2011.
Lakshminarayana headed both strategy and M&A, but Rishad will only be in charge of strategy. Sridhar Srinivasan has been made the interim head of M&A.
\"He was being groomed to take over at the top. This is just a step toward that,\" said Harit Shah, IT analyst with Karvy Stock Broking. \"He has to earn his way up, it is a complex company.\"
Like his billionaire father known for living a modest life, Rishad flies economy class and drives his own Maruti SX-4 c
A man walks past a billboard featuring US dollar notes on a street in Hefei, Anhui province
Maintaining the relative stability of major reserve currencies and ensuring fiscal sustainability are important in order to achieve strong and balanced global growth, China and India said on Thursday.
In a statement released after a regular meeting of vice-finance ministers, the two countries expressed concern over possible capital flow disorders resulting from monetary policy adjustments, which they said may lead to financial risks.
Asian economies continue to recover robustly but some have exhibited signs of overheating and inflationary pressure, the statement said, without naming names.
\"Both sides agreed that it remains an arduous task to ensure a robust global economic recovery, which requires continued efforts of the international community,\" said the English-language communique, posted in the website of the Ministry of Finance, www.mof.g
An employee of Samsung Electronics walks at a headquarters of the company in Seoul
Samsung Electronics' first tablet computer will go on sale in two weeks, it said on Thursday, joining the hunt to challenge Apple's iPad.
Global handset vendors and PC makers including Nokia, LG Electronics and Hewlett-Packard Co are moving into the new category of devices, between traditional PCs and smartphones, taking a cue from Apple.
Dell Inc said last month it was launching its new tablet device called the Dell Streak to US customers.
\"We see huge potential for this kind of product,\" YH Lee, head of marketing at Samsung Mobile, told Reuters in an interview on sidelines of the IFA consumer electronics fair.
The new Galaxy Tab, with a 7-inch screen, will go on sale in European markets in mid-September. The device, which uses Google's Android software, offers access to books, films and music.
An investor checks stock information at an electronic board at a brokerage house in Hefei, Anhui province
World stocks hit a two-week high on Thursday and oil prices rose as optimism from strong US and Chinese manufacturing data extended into a second day ahead of a euro zone interest rate decision and key US jobs data.
Wall Street posted its best day in eight weeks on Wednesday, led by economically sensitive sectors like industrials and basic metals, after the upbeat manufacturing surveys from the world's two largest economies.
\"The market was just seeking optimism and this came from strong manufacturing data,\" said Serene Lim, oil analyst at ANZ in Singapore.
The MSCI world equity index rose 0.2 per cent to the two-week high. The Thomson Reuters global stock index rose 0.3 per cent.
The FTSEurofirst 300 index was down 0.1 per cent, with investors remaining cautious ahead of Thursday's European Central Bank decision
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