Briefly Business

With a view to delist Goodyear India Limited from the Bombay Stock Exchange,The Goodyear Tire amp; Rubber Company...

Tender offer for Goodyear India shares

MUMBAI: With a view to delist Goodyear India Limited GIL from the Bombay Stock Exchange,The Goodyear Tire amp; Rubber Company GTRC on Tuesday announced its intention to commence either directly,or through one or more of its wholly-owned subsidiaries,a cash tender offer to acquire shares of GIL. GTRC has approved an indicative price of Rs 245 per share for the shares tendered pursuant to the delisting proposal,which represents a premium of 33 per cent over the closing price of GIL of Rs 183.95 on February 5.

70 pc exim trade to come from FTA

MUMBAI: More than 70 per cent of India8217;s exim trade will come from Foreign Trade Agreement FTA in the next two-three years as over 12 countries will be collaborating with India,a senior government official said. This presently stands at 10 per cent and is expected to jump to 70 per cent in the next 2-3-years,the official said. Currently,India8217;s exim trade stands at 500-billion of which export stands at 200-billion and import at 300-billion.

Export growth pegged at 8 pc in January

NEW DELHI: India8217;s exports are estimated to have grown by about eight per cent to 14 billion in January,retaining the positive trend for the third month in a row after contraction for 13 months. 8220;In January,I expect exports to be 14 billion,8221; commerce secretary Rahul Khullar told reporters. The country8217;s exports,which came under severe pressure due to the global slowdown after October 2008,had aggregated a shade lower than 13 billion in January 2009.

Merger of State Bank of Indore by March

NEW DELHI: The country8217;s largest lender,State Bank of India,has said that the merger of State Bank of Indore with itself will be completed by the end of this fiscal. 8220;Merger will be complete before this financial year8230; by March,8221; said SBI chairman O P Bhatt here. This will be second such merger of its associate banks. In August 2008,the bank had merged State Bank of Saurashtra with itself.

CIL to meet Sebi,11 pc selloff likely

KOLKATA: A clearer picture on the roadmap for Coal India public offer will emerge after the officials of CIL,coal ministry and department of disinvestment meet with the market regulator Sebi on February 19. 8220;We are meeting Sebi on February 19 and then a clearer picture on the timing will emerge though our internal target is to complete the IPO by this calender year,8221; CIL chairman and managing director Partha S Bhattacharyya said.

Bank governors conference on Feb 12

MUMBAI: Central bank governors of leading European countries including Spain and France will be participating in the two-day conference on financial crisis being hosted by the RBI from February 12.