News Bytes - Speed News

Hey friends

Welcome to this new section giving a birds'eye view or a brief discription of Latest news items.

If they interest you then please go and dig deep. Thanks

• Amidst US subprime credit woes - Blackstone (private equity firm) has successfully raised & closed the world's largest private equity fund @$21.7 Billion setting a benchmark in the global buyout (LBO) industry.

• Nokia is going to outsource manufacturing of mobile phone chips enabling it to focus on R and D

• Reliance MahaMumbai SEZ size to be cut to half at 5000 hectares

• Government of India is going to issue Rs. 6000 crores worth of bonds to fertilizer companies due to rising subsidy bill for meeting its committments!

• Reliance communications completes 5% equity placement in Tower Business. George Soros & HSBC invest in that. The company is also booking capital gain of Rs. 1200 crores!

• Infosys gets nod for 2 SEZs In Andhra Pradesh

• Lehman Bros. say that they assume FY08 Indian GDP growth at about 10% !

• TTML, Bharti Airtel & Rel Communications are competing for 51% stake in Telkom Kenya

• Dow Jones Industrial Average finally Closes Up 153 Points After a Volatile Session.

• Vodafone decides not to sell its verizon communications state worth about $10 Billion right now.

• SAT (Securities & Appelete Tribunal) stays SEBI order on Karvy DP with respect to opening new demat A/c

• StanChart is in advance talks to buy stake In UTI Sec.