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Editor's Desk The two-year old health insurer – Star Health Insurance – aims to notch a profit of Rs 6 crore and attain a premium of Rs 500 crore at the end of the current financial year. V Jagannathan the Managing Director of the insurance company announced that it would infuse about Rs 20 crore this year, … Read more Star Health Insurance aims Rs 6 cr profit this fiscal
The Indian rupee opened lower on Friday on concerns that overseas investors would offloads their local equities holdings following the Satyam fiasco, seen as India’s biggest corporate fraud so far. The domestic unit opened at 49.22 a dollar but staged a marginal recovery to trade at 49.10/12 in early trades. The rupee had closed at … Read more Rupee slips against Dollar on fund outflows
Punj Lloyd’s wholly-owned UK subsidiary, Simon Carves (SCL), has commenced adjudication proceedings against UK-based SABIC Petrochemicals. These proceedings are ultimately aimed at seeking restitution, through the UK Courts, of 28 million pounds sterling in respect of an advance payment bond and a performance bond called by SABIC following in SCL’s view, the wrongful termination by … Read more Punj Lloyd starts adjudication proceedings against SABIC
Gulf-based airline major, Emirates Airline, has informed FreePress that the company has slashed air fares across all its destinations in India with immediate effect. These revised fares will be applicable for passengers travelling to Dubai, London and New York from Mumbai. With the revised fares, a return economy class journey for Mumbai-Dubai will cost as … Read more Emirates – Air fares slashed for all Indian destinations
State Bank of India (SBI) has expressed its concern over the unsecured loan in the range of Rs 150 crore – Rs 200 crore provided to troubled Satyam Computer’s chief Ramalinga Raju six months ago. According to reports Raju availed the loan in his personal capacity to help fund the projects, which were owned by … Read more Satyam’s Raju availed 200 cr Personal Loan from SBI
India’s Largest Insurance Company – Life Insurance Company of India – LIC holds a 4.34% stake in Satyam Computer Services Ltd. We first broke the news about Satyam’s bankruptcy yesterday. The investment committee and equity research team of one of India’s major insurer – Life Insurance Corporation of India (LIC) – will meet soon to … Read more LIC yet to decide on Satyam stake