USA economic data

U.S. 2008 productivity up 2.8% biggest gain since '03

U.S. Q3 productivity revised to up 1.5% from 1.3%

U.S. Q4 productivity up 3.2% vs.2.1% expected

U.S. continuing jobless claims up 20,000 to record 4.79 mln

U.S. 4-week avg. jobless claims up 39,000 to 582,250

U.S. jobless claims at highest level since Oct. 1982

U.S. weekly initial jobless claims up 35,000 to 626,000

U.S. jobless claims surge in latest week to 626,000

Voltas completes acquision of Saudi JV partner

With reference to the earlier announcement dated Dec. 10, 2007 regarding purchase of shares of Saudi Ensas Company (SECL), Saudi Arabia - joint venture (JV) company, Voltas announced that the legal process involved in connection with the transfer of 51% shareholding of SECL for Engineering Services WLL (Saudi Ensas), a joint venture company in Kingdom of Saudi Arabia (KSA), from the local partner in favor of Voltas has been completed.

MTNL to launch 3G mobile services today

Mahanagar Telephone Nigam (MTNL) will become the first telco to launch third-generation (3G) mobile services commercially today

3G services on a mobile phone will allow customers to access the Internet and data applications at speeds of up to 2 megabytes per second. Mobile users will have access to advanced services such as video calls, broadband wireless data, faster online video streaming and a better gaming experience.

Nagarjuna Construction issues NCDs of Rs 1 bn

Nagarjuna Construction Company has announced that the company has issued 1,000 secured, taxable, redeemable non-convertible debentures (NCDs) of Rs 1 million each for cash at par aggregating to Rs 1 billion to Life Insurance Corporation of India (LIC).

Eicher Motors to commence buy-back on March 12

Eicher Motors through its manager`s, JM Financial Consultants (P) has announced that it would commence buy-back of its equity shares on Mar 12, 2009.

The offer would be open for a limited period till March 26, 2009.

The company proposes to buy-back up to 1.41 million fully paid-up equity shares of the face value Rs.10 each at a price of Rs. 691.68 an equity share in cash, for an amount aggregating up to Rs. 974.60 million.

Satyam Computer gets new CEO

Satyam Computer Services new board has appointed A.S Murty as its new chief executive officer (CEO) with immediate effect.

Dr Reddy`s gets 5 ANDA approvals

Dr Reddy`s Laboratories has received five Abbreviated New Drug Application (ANDA) approvals and generic product launches in the US market

Levetiracetam tablets,,,,Lamotragine,,,Lamictal,,,,,,Divalproex capsules and delayed release pellets

SEBI to enhance transparency & efficiency in corporate system

The capital market regulator, Securities and Exchange Board of India (SEBI) will examine the prevailing regulations and change accordingly to enhance compliance, transparency and efficiency in the corporate system, said C B Bhave, chairman, SEBI.

Bank of England cuts,ECB holds fire

The Bank of England continued a campaign of aggressive rate cuts Thursday, while the European Central Bank left its key lending rate unchanged at 2%.


The Bank of England cut its key lending rate by half a percentage point to a record low 1% as policy makers battle a potentially deep and lengthy recession.