Business

The new board of fraud-hit Satyam Computer Services will meet again on Saturday to look for ways to raise new funds. However,despite the crisis it is going through after its chariman Ramalinga Raju's disclosures,the stock

Hit by a massive sales slump,Bajaj Auto reported a 22.43 per cent decline in net profit for the quarter ended December 2008.

PriceWaterhouse has lost its mandate as the knowledge partner for Ficci's flagship annual entertainment event -- FRAME.

The government on Friday said that it will stick to its borrowing schedule as drawn up in January for 2008-09,as of now.

Bank of America Corp was rescued by the US government on Friday through a $20 billion bailout.

World oil prices were mixed in Asian trade amid concerns over weak energy demand from countries hit by the global economic downturn.

Fuji Heavy Industries,the maker of Subaru-brand cars,said it lowered its 08-09 sales target to 555,000 units from 616,000.

Low cost carrier SpiceJet Ltd said on Friday its Chief Financial Officer Partha Sarthi Basu has resigned effective Jan 15,2009.

Satyam has not sought any financial help from the govt and the board is working on reviving the company,Prem Chand Gupta said.

Shares of Maytas fell by another 5 pct and got stuck at the lower circuit for 6th consecutive trading session.

Oil fell $1 and tipped closer to $36 a barrel,extending an overnight 1.3 per cent decline.

Financial services major Barclays is to reduce its headcount by about 2,100 in investment banking and money management.

Private air carrier Kingfisher Airlines has said it has deferred its proposed flights to Hong Kong and Singapore from here due to some technical reasons.

The Indian economy may grow 6.7 per cent in the current fiscal year,Morgan Stanley said.

The board would ask the clients to pay advance against dues to tide over immediate liquidity needs.

Infosys said it was not seeing any fallout of the accounting fraud at rival Satyam Computer.

Sony may post an operating loss of about $1.1 bn this financial year,its first loss in 14 years.

The Government will soon appoint more directors on the board of Satyam Computer.

Industry leaders will meet PM Singh and are likely to discuss ways to take corrective measures after Satyam fraud.

Nasscom asked IT companies to desist from weaning away clients of Satyam Computer.

Infrastructure sector output grew 2.2 pct in Nov from a year earlier,below 3.4 pct in Oct.

Domestic passenger car sales declined by 6.9 per cent in December 2008 to 82,105 units.

Union Minister of State in PMO,Prithiviraj Chavan,said the Centre is at present concerned about the future of 50,000 employees of disbanded Satyam Computers.

Trading in the securities of Indian IT company,Satyam Computer may resume on Monday,if the New York Stock Exchange finds its assessment of the company satisfactory but the exchange has warned that it may also suspend

Indian stocks listed on the American bourses suffered a loss of close to USD 2 billion in a week.