Union Bank of India (UBI), a leading nationalized bank in the country entered into a strategic alliance with KBC Asset Management NV (KBC AM), a leading Belgian asset manager with operations around the world, by signing a memorandum of understanding (MoU) as a first step to form a joint venture asset management company in India in which, their respective stake will, be 51% and 49%


The board of directors of Spicejet, in its meeting held on Jul. 14, 2008 has in principally accepted the offer of PE investor WL Ross & Co. which will make available approximately Rs 3.45 billion to SpiceJet.

BEML has bagged an export order worth Rs 345 million from African countries,

Siemens` energy division has bagged Rs 2 billion order from Sri Lanka`s state power utility, Ceylon Electricity Board,

SRF, nation`s biggest tyre cord manufacturer will acquire South Africa based Inudtex Technical Textiles for about Rs 200 million,


Rural Electrification Corporation (REC) is planning to acquire stakes in upcoming power plants in coal-rich states

IFCI has decided to reconvert a part of Life Insurance Corporation`s stake in the company into convertible debentures to reduce its stake to 8.39% from 11.39%,

Steel prices may shoots up by Rs 4,000 next month

Ispat Industries is all set to get Latua iron ore mine in Jharkhand for its proposed 2.8 million tons steel plant in the state,

Jet Airways to hike fuel surcharge from July 16 The hike would be Rs 200 for the long haul and Rs 100 for short-haul flights.