Even as the economic crisis ravages global markets, the two billionaires are making investments in firms from America to Australia. According to reports, Soros snapped up a five per cent stake in Australian firm Sphere Investments. In October, he acquired over five per cent of Australian mining firm Legend International. Buffett has bought preferred shares worth $ 5 billion from Goldman Sachs. In addition, he has acquired preferred stocks worth $ 3 billion dollars in GE.
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'Taking into account the inventory in pipeline and the suppressed market demand, Ashok Leyland has decided to moderate the production plan for the next two months,' the company said. Manufacturing facilities would also reduce the number of working days to three a week till December this year, it added. 'This decision has also been partially influenced by the problems encountered by the suppliers as a result of the power shortage in some parts of the country,' it said.
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The company signed an agreement with Jharkhand government in October 2005 to set up a Rs 40-crore steel facility and in December 2006 for an identical plant in Orissa. Mittal, however, asserted that the company's 'long term strategies for India is unchanged' and any short-term delay would not change the overall long-term plans for the country.
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State-run Indian Oil, Hindustan Petroleum and Bharat Petroleum are projected to lose Rs 1,28,135 crore (Rs 1,281.35 billion) on fuel sales this fiscal. IOC, BPCL and HPCL lost Rs 92,853 crore (Rs 928.53 billion) on fuel sales (audited figures) in April-September and are projected to lose Rs 35,282 crore (Rs 352.82 billion) in the second half of 2008-09 fiscal.
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Most of the Asia-Pacific economies would be cushioned by healthy foreign exchange reserves in the last quarter of the current calendar year, global ratings agency, Standard & Poor, said in a report.
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Renault and M & M had planned to bring the seven-seater MPV through their JV under which the French company's mid-sized sedan 'Logan' is manufactured and sold in India. The MPV was displayed at the Auto Expo held earlier this year.
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During April-October, the direct tax collections grew by 29.52 per cent at Rs 1,66,905 crore (Rs 1,669.05 billion). It was at Rs 1,28,864 crore (Rs 1,288.64 billion) in the same period a year ago, according to a finance ministry statement. Corporate tax collections were up 33.49 per cent at Rs 1,05,174 crore (Rs 1,051.74 billion), while personal income tax rose by 23.14 per cent at Rs 61,433 crore (Rs 614.33 billion) during the period.
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The students who graduate from the ongoing academic year will be eligible for the programme and the company is already scouting for talent. The Blue Scholars will work closely with the IBM worldwide research teams, immersed within a real-world innovation culture and drive the delivery of a wide spectrum of technology solutions.
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Hit by global economic downturn, the Indian property market witnessed a slowdown in the leasing activity of office space during the third quarter of 2008 that led to a fall in rental values in key markets, real estate consultant CB Richard Ellis said in its latest report.
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Majority of the revenue for the Indian IT industry continues to come from low value addition jobs like manpower provisioning and low-end support services, Modi said in Bangalore at the ICT event Bangalore IT.biz. Modi stressed that the IT industry has to reinvent itself, must focus on innovations, and on systems rather than being comfortable with services.
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If you're going into business, you must have a plan. Find out how to put this important document together.
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Find out how this tough economic period can be a learning experience for all.
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Paying your bills on time is an important aspect of taking control of your financial life
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It is unlikely that Wall Street will ever be free of people in positions of power getting involved in all manner of devilry.
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You bet on stocks. You diversified. You lost a bundle. Should you get out? Experts disagree
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Savvy mutual fund managers are using their piles of cash to buy "really good companies at a really good price"
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If your business has hit a wall, we've got the answer to break through and increase sales and earnings.
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