Briefly Business

Global metal and mining major Vedanta Resources on Thursday reported a 46.2 per cent decline in profit at 188.2 million for the...

Vedanta H1 profit down 46 per cent

NEW DELHI/ LONDON: Global metal and mining major Vedanta Resources on Thursday reported a 46.2 per cent decline in profit at 188.2 million for the six-month period ended September 30,2009,impacted mainly by weak metal prices. However,the firm anticipates recovery in metal prices in next few months on the back of demand generated by economic and industrial growth in India.

India Economic Summit on Sunday

NEW DELHI: Prime Minister Manmohan Singh will inaugurate the three-day India Economic Summit on Sunday being held here in the backdrop of the global financial crisis. The programme for this year8217;s Summit will lead to concrete recommendations for addressing key challenges such as skill development,financial empowerment of the poor and development of female talent, World Economic Forum director and Asia head Sushtant Palakurthi Rao said.

GVK buys BIAL stake from Zurich Airport

MUMBAI: GVK Airport Developers,the wholly-owned subsidiary of the GVK group,has acquired a 12 per cent stake in Bengaluru International Airport Ltd BIAL from airport management services provider Zurich Airport for Rs 484.6 crore,a company release said.

JSW Steel output up 34 per cent in Oct

NEW DELHI: JSW Steel,the countrys largest private sector steel maker by domestic capacity,on Thursday said its production rose by 34 per cent to 4.53 lakh tonnes in October on account of robust demand. The companys crude steel production in October 2008 was 3.38 lakh tonnes,the steel maker said.

EWDPL plans to raise Rs 600 cr via IPO

NEW DELHI: Realty firm Entertainment World Developers Pvt Ltd EWDPL plans to hit the capital market by early next year to raise Rs 600 crore through an initial public offer. We will be filing the prospectus with market regulator Sebi by January for Rs 600 crore initial public offer IPO, CMD Manish Kalani said.

Govt to split Assam-Nagaland gas block

NEW DELHI: The Cabinet Committee on Economic Affairs CCEA on Thursday approved splitting of an oil and gas block falling in Assam and Nagaland into two so that exploration that previously could not be completed in Nagaland can now be taken up.

PNB extends festival bonanza by 2 month

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NEW DELHI: The countrys second largest public sector lender Punjab National Bank PNB has announced extension of its festival offer on housing and car loans up to December 2009. As a part of its offer,PNB extends housing loans of up to Rs 30 lakh at discounted interest rate of 8.50 per cent fixed for first three years,while in case of floating option,the rate would be 2 to 2.50 per cent below BPLR,the bank said.