Top stories at 3PM

Top stories at 3PM
* Bangalore rocked by 6 blasts; 1 dead, 2 hurt.
* Finance secretary says India growth story still "credible, intact".
* RBI Reddy meets Chidambaram ahead of Tue policy review.
* PNB Q1 marked-to-mkt loss on bond portfolio seen 1.5 bln rupees.
* India Apr-Jun cement imports from Pakistan via rail at 173,000 tn.
* After dismal show of SBI Cards, LIC parts ways with GE Money.
* Union Bank of India Q1 MTM loss 3.39 bln rupees vs 200 mln yr ago.
* Reliance Power to raise $4 bln for Sasan, Krishnapatnam units
* Godrej Consumer to up soap prices on rising veg oil costs.
* Corus to up UK steel structural section price by 60 pound/tn
* Hindustan Construction Apr-Jun forex loss provision 506 mln rupees.
* Exide Industries to invest 1.8 bln rupees on expa

US government was scheduled to report new home sales for June after the opening bell. Economists surveyed by Briefing.com expect the annual sales rate to slide to 505,000 from 512,000 in May.

Banglore Blast Updates

Five separate blasts rocked Bangalore Friday afternoon. The locations of the blasts are Koramangla, Nayandahallil on Mysore road, Ashok Nagar, Madiwala bus stand, Annapanya. Cause of blasts is not yet been ascertained. Unconfirmed initial reports indicate four people have been injured. At least three people are reported dead. The blasts happened after 1.30 in the noon within a gap of five to ten minutes each. Bomb squad rushed to the spots. TV sources says that all the blasts are of low intensity

Banglore Blast Updates

ACCORDING THE LATEST REPORTS, 6 BLASTS HAVE HAPPENED WITH A GAP OF 20 MINUTES FOR EACH AND POLICE HAVE WARNED MORE COULD BE THERE AND HAVE CALLED FOR COMPLETE EVACUATION OF ROADS AND PUBLIC PLACES....... IT PARKS ARE GUARDED WITH POLICE AND SECURITY FORCES

Banglore Blast Updates

ONE MORE BLAST NEAR MALLAYA HOSPITAL JUST NOW

Banglore Blast Updates

BANGALORE CITY TRAFFIC CLOSED DUE TO HEAVY BOMB BLAST --- TOTAL 5 SERIAL BLAST..... PPL ASKED TO STAY AWAY FROM ROADS AND PUBLIC PLACES --- POLICE WARNING MORE BLASTS IN IT PARKS !!!

Banglore Blast Updates

ndtv saying 5 blasts

Banglore Serial Bombblast

as per fresh news its 3 bomb blast - one ar madiwala, second at nayandahalli, n third at audigodi

Breaking News

Breaking news: Serial Bomb Blast in Bangalore- TWO BLASTED AS OF NOW AS PER TV; Bomb blast in Madiwala followed by second blast in audigodi

RIL & RNRL CASE

RIL & RNRL CASE :
The Memorandum of understanding (MoU) signed between the warring Ambani brothers during their split in June 2005 took centre stage in the Bombay High Court once again on Thursday, 24 July 2008, with Harish Salve, senior counsel for Mukesh Ambani-promoted Reliance Industries, asking for the MoU to be produced in the court. Salve said the MoU cannot be taken as the basis for allocation of gas by RIL to Anil Ambani-promoted Reliance Natural Resources (RNRL). The MoU was the basis for the demerger of the Reliance Group. After the split, Mukesh Ambani got RIL and Anil Ambani got Reliance Capital, Reliance Communications and Reliance Energy. The Bombay High Court, on Thursday, began daily hearing on the gas dispute between the two firms. Daily hearing will take place from 12

Oil and Natural Gas Corporation (ONGC),

Oil and Natural Gas Corporation (ONGC), the country's largest oil and gas producer, plans to enter uranium mining in alliance with public-sector Uranium Corporation of India, aiming to tap the business opportunity from nuclear fuel shortage in Asia's third largest economy. ONGC is aligning with Uranium Corporation as the latter is the only entity allowed to undertake uranium mining in India, and the has the power to allot mining leases to others like ONGC

Indian Oil Corporation (IOC)

Indian Oil Corporation (IOC) has run out of money as well as the Centre’s IOUs, which the company has been encashing for foreign exchange to buy crude. Indian Oil needs roughly Rs 12,000 crore ($3 billion) every month to buy crude but loses Rs 413 crore daily on fuel sales. As a result, the company has been borrowing heavily from banks and incurring further expense on interest. Lately, it has also been encashing the bonds under an RBI mechanism. In June, IndianOil used up the last of the bonds it had to raise about Rs 9,900 crore through the RBI mechanism. It is now left with bonds worth about Rs 4,300 crore that had already been securitised for raising funds from the overnight call market

RELIANCE

RELIANCE RESULTS YESTERDAY HIDE THINGS MORE THEN IT REVEALS ..iT A CLEAR CASE OF SUPPRESSION OF PROFIT ... @130 BARREL A OIL ITS GRM IS 15.5 WHEARES ITS GRM WAS 15 WHEN OIL WAS 70$ PER BARREL ...NOW ANY PERSON WITH A SMALL DEGREE OF COMMON SENSE CAN FIGURE OUT WHY RELIANCE DID NOT SHOW WINDFALL PROFIT

China's attempts to cap coal prices in order to encourage power generators to maintain full output could be counterproductive, with private miners likely to cease operations until the caps expire, said Morgan Stanley. In a note to investors, it said that "given the inelastic coal demand, we believe the incentives for coal mines, especially privately owned mines, to ask for higher prices remains high." On June 20, state regulators ordered coal producers to maintain prices at June 19 levels until the end of the year. However, the instructions were largely ignored, with benchmark 5,000 kcal coal prices rising by an additional 20 pct to more than 1,000 yuan/ton in recent weeks. The government said yesterday that it would tighten monitoring at spot markets and seaports in order to make sure th

Remi Metals Gujarat Ltd

Remi Metals Gujarat Ltd has informed that the Company had submitted a Rehabilitation Scheme for its One-time settlement of all secured term loan and capex requirement to Board of Industrial And Financial Reconstruction through the monitoring Agency IDBI after having in-principle approval of Corporate Debt Restructuring Cell. The hearing of BIFR for considering the Scheme is fixed on July 24, 2008.

USA Congress may outlaw elements of oil futures trading that lawmakers found distorted demand and contributed to the 69 percent surge in prices in the past year.U.S. legislators are considering limits on the number of oil contracts an investor can hold and may increase disclosure requirements. Speculators such as Goldman Sachs Group Inc. use the practices to bet on price swings, which may drive up prices, though they have no intention of taking delivery of underlying goods, lawmakers say

25-July News

Headlines for the day
Corporate News Headline ONGC is planning to enter uranium mining in alliance with public-sector Uranium Corporation of India. (BS) GAIL India and Bharat Petroleum have signed an agreement for cooperation in transmission and distribution of natural gas. (ET) Tata Motors would shortly be approaching the SEBI to seek permission for its Rs. 72 bn rights issue. (ET) Economic and Political Headline Inflation for the first time since May eased by 0.02% to touch 11.89% mainly due to a moderation in prices of certain food items like sea fish, tea, and imported edible oils. (BS) In a move to improve the tradability of domestic convertible bonds, the finance ministry has proposed a mechanism, under which the equity option can be traded separately. (BS) The sales of previously owned US homes fell 2.6% in June to the lowest level in a decade as tumbling real- estate prices and consumer confidence signalled no end in sight to a housing recession now in its third year. (Bloomberg)

After the party played a crucial role in the UPA Government's victory during the trust motion, the Samajwadi Party (SP) on Thursday indicated that it was not interested in joining the Government.According to sources, Prime Minister Manmohan Singh had asked the SP leadership to consider joining the Government, but the SP is learnt to have declined the prime minister's offer. "I am not the right person to answer the question whether the party would participate in the Government or not. It is not possible to answer this question now but we are not interested in joining the Government," said SP general secretary Amar Singh, responding to a question whether his party would join the Government