Satyam’s pack of lies crumble

The Satyam mountain of lies crumble in face of evidence.  As per Ramalinga Raju, a big 4 consulting company had advised the management on the Satyam-Maytas deal.  All the top 4 consulting firms (Pricewaterhouse Coopers, Deloitte, Ernst & Young and KPMG) have now denied being a part of the deal. Satyam’s valuation of unlisted Maytas…

Marc Faber’s prediction comes true

In February, Marc Faber in an interview with CNBC-TV18 predicted that the Indian market (BSE) was on a bubble and that it would fall to 14000 – 12000 (the market was around 18000 then).  What a fall it has been since.  We have already touched 8000, though the markets have slowly inched upto 9500, we…

Marc Faber’s comment on the US economy

The federal government is sending each of us a $600 rebate. If we spend that money at Wal-Mart, the money goes to China. If we spend it on gasoline it goes to the Arabs. If we buy a computer it will go to India. If we purchase fruit and vegetables it will go to Mexico,…

Joy Alukkas to open world’s biggest jewellery shop in Chennai

The world’s favorite jeweller opens the world’s biggest jewellery showroom in Chennai, India. With over 70,000 sq. ft of premium jewellery shopping in the heart of Chennai, Joyalukkas jewellery offers consumers more than a million exquisite jewellery designs from master jewellers in India, Bahrain, Turkey, Singapore and Italy. With the opening of the first showroom…

Yahoo! Launches New Lab in Bangalore, India

Yahoo! Inc, a leading global Internet company, announced the expansion of its India R&D operations with the launch of Yahoo! Labs – Bangalore, its first in India. Dr. Rajeev Rastogi has been appointed as vice president and head of the new lab. Yahoo! Labs – Bangalore will be a center of excellence for next generation…

Virgin mobile launched in the world’s fastest growing telecom market

The Sir Richard Branson-owned Virgin group is launching the Virgin Mobile brand in India in association with Tata Teleservices India has the lowest tariffs in the world. With Virgin getting into the game, things are expected to get more competitive. For instance, subscribers on Virgin will be credited 10 paise for every one minute of…

Bloodbath continues…

At one point of time, the Sensex was down around 14%. There was news of some morons shouting slogans against the Finance Minister outside the Bombay Stock Exchange office. Not surprising, these must be the traders who lost the most and were just looking for scapegoats. These are the same ones who would have had…

Blood on the street

Finally after a lot of dithering, the global markets caught the sub-prime flu and what a crash it was. India was the worst performing market today. Almost 1400 points (7%) down in a single day. None of the stocks were spared. Every sector was in the red. Now is the time for bargain hunting. Whoopie….

Gulf Finance House to invest USD 10 billion in Mumbai SEZ

In a significant move signaling its continued commitment to the rapidly growing Indian economy, Gulf Finance House, yesterday signed a wide ranging agreement with the Government of Maharashtra to facilitate the creation of one of the largest development projects in the state – a state-of-the-art Economic Development Zone – just outside Mumbai, the country’s financial…

KV Kamath is Businessman of the year – 2007

ICICI Bank chief executive officer K.V. Kamath has been named Businessman of the Year for 2007 by Forbes Asia, for his steadiness at steering ICICI into one of Asia’s top banks. Under Mr Kamath’s watch since 1996, ICICI Bank’s market capitalisation has risen to $31 billion, placing it among the region’s top 10 banks.“By this…

India’s refining hub to be largest in world – Jamnagar

Reliance Industries and Essar Oil , India’s largest private sector oil refiners, are set to create the world’s biggest petroleum refining hub as part of plans to expand their plants in Jamnagar, western India. Essar has announced a $6bn expansion plan to more than triple capacity at its refinery, while Reliance, at its site a…