The Economic Times

In a shot in the arm for the debt-laden Essar Group, American hedge fund Farallon Capital has come forward to offer a 'bridge equity' of about Rs 1500 crore, reports The Economic Times.

What financial dailies say this morning about the Tata shocker

Ever since news broke about the Cyrus Mistry's ouster as Tata Sons Chairman, newspapers - especially the financial dailies - have gone on an overdrive reporting it. Here are what the papers are talking about this morning.

AccorHotels Named Among India`s Top 10 Companies by Great Place to Work®

AccorHotels, the world’s leading hotel operator, today announced that it has been inducted in the “Top 10 Companies to Work For in ...

Was looking for over Rs 900/shr for CARE stake: IDBI Bank

IDBI Bank was looking for over Rs 900 a share and the bids it received were below that price. IDBI Bank holds close to 17 percent in CARE and had put up its stake for sale

Vodafone in talks with PE funds to sell stake in India unit

British mobile operator Vodafone is in talks with at least two private equity funds to sell a stake in its Indian operations, the Economic Times newspaper reported on Wednesday, quoting an unnamed person involved in the discussion.

Essar to exit telecom business in Africa: Report

Essar Group is looking to sell its telecoms operations in Kenya and has decided not to go ahead with a proposed deal to acquire the services of Warid Telecom in Uganda and Congo, the Economic Times reported, citing two sources.

Will Japan crisis leave dent on Indian auto ancillary co's?

The Japanese crisis is likely to affect India's auto ancillary space reports The Economic Times. Local ancillary firms import components as well as finished products from Japan to sell in India.

Priyanka Gandhi's husband in pact with DLF for realty foray

New Delhi entrepreneur Robert Vadra has made a quiet and relatively unheralded entry into the real estate business, includes a tie up with DLF, reported The Economic Times.

FDI cap in pharma to hurt global investor confidence: Body

Imposing restrictions on foreign direct investment (FDI) in the pharmaceutical space would hurt overseas investment flows into India and will send a wrong signal to global investors, reports the Economic Times quoting president of the Organisation of Pharmaceutical Producers of India (OPPI) Ranjit Shahani.

Sony booming in India on strong brand image

Sony says it is doing booming business in India, dominating in flat-panel TVs and digital cameras, and is in good shape to keep growing in coming years, reports The Economic Times.

Panasonic to set up 'Eco Idea factory' at Jhajjar

Japanese electronics major Panasonic will set up its first ‘Eco Idea factory’ in India at Dadritoi village of Haryana's Jhajjar district at an investment of about Rs 1,000 crore, reports The Economic Times.

Faulty engine troubles cause Honda to recall over 57K cars

The Indian arm of Honda will recall 57853 units of the City sedans after a faulty engine part was discovered which could stall the engine. According to The Economic Times, this is one of the largest recalls in the country and the second such recall by the Japanese giant in over a year.

Mumbai is Asia's 4th costliest place for office in 2010

Mumbai has become the fourth costliest city in Asia Pacific for renting an office in the last quarter of 2010, The Economic Times reported quoting Jones Lang LaSalle.

Withdraw multiple drugs sold under same name: DCGI

India’s drug regulator DCGI has asked pharmaceutical firms to withdraw several medicines sold under the same brand name but used to treat different ailments as it leads to confusion and could harm consumers for taking a wrong medicine.

Banks to set up escrow accounts to safeguard realty loans

The Reserve Bank of India has asked banks to set up escrow accounts while extending loans to real estate companies, according to The Economic Times. The central bank is asking banks to put an escrow mechanism in place which will keep a check on the end use of funds given by banks to real estate firms.

Petrol prices pinching wallet? How about an e-bike?

With consumers bogged down by escalating fuel costs, electric vehicle makers are now planning on getting aggressive with their marketing and advertising spends, reports The Economic Times.

M&M sets up panel to speed up Ssangyong merger

Mahindra & Mahindra has set up a committee to speed up the amalgamation process of Ssangyong Motor Co, says The Economic Times. The panel has a 100-day brief during which it will begin with a communication exercise to highlight Ssangyong’s future growth plans.

DB Realty hits all-time low on CBI probe report

Mumbai-based realty firm DB Realty slumped by over 8% to a lifetime low of Rs 142.65 a share on the BSE on Friday, hit by an Economic Times report. The report states that CBI is scrutinising the transfer of over Rs 200 crore by the company to Kalaignar TV in FY09-10, which came to light during investigations into the allocation of 2G spectrum.

DLF Q3 net slips, company may miss full year sales target

Realty major DLF may miss its targeted sales of residential properties in FY11, says a report in The Economic Times. "This could impact its projected annual revenue," the report added. A strong YoY growth in the volume of residential housing sales helped DLF post a 22% increase in revenues for Q3FY11.