business

Copper was trading lower, snapping its three-day gains as traders awaited evidence that demand from China, the world’s largest metals consumer, may sustain prices after the metal reached an 11-month high last month.

The Chinese Statistics Bureau and customs departments are set to report trade and economic data, including figures tracking inflation, industrial production, trade and fixed-asset investments. The People’s Bank of China is also scheduled to report figures for August money supply and loans.

Read moreAsian copper trades lower ahead of Chinese trade data

MTS India / Siestma – Shyma Tele, the disruptive Telecom tariffs company has gone on a rampage yet again, against Airtel and Vodafone the arrogant Telcos of India.

Sistema Shyam TeleServices Limited (SSTL) announced its MTalk plan that offers local calls at just 1 paisa per second, with 1-second billing, plus full talk-time for lifetime! STD calls are charged at 2 paisa per second. At nominal Msaver rentals of just Rs.1 per day each, customers can also choose to get 50% off on local calls, 50% off on STD calls, and 100 SMSes every day. MTS have coined this simple.

India’s monetary authority Reserve Bank of India (RBI) said in a notification that it would conduct a special repo auction for Rs 6,000 crore on Monday. The reversal of the repo would occur on September 22. The special repo by the RBI is a part of its effort to ease the credit amiability for targeted sectors, which faced severe problems in the aftermath of the global financial crisis last year.

In order to help the mutual fund industry tackle the redemption pressure, the central bank introduced the special repo facility on a daily basis with effect from October 14, 2008, offering Rs 2,000 crore everyday. The size of the lot was later increased to Rs 6,000 crore later to include the liquidity needs of non-banking financial companies and housing finance companies.

Read moreRBI to conduct special repo of Rs 6,000 crore

Aurobindo Pharma has received two approvals from Swissmedic, Government of Switzerland for the license of Amlodipine APL 5mg and 10mg tablets and Metformin APL 500mg, 850mg and 1000mg tablets.

Amlodipine APL 5mg and 10mg tablets fall under the Cardio Vascular Disorder (CVD) therapeutic segment and is indicated for the treatment of angina pectoris and mild to moderate hypertension, alone or in combination with other antihypertensives.

Read moreAurobindo receives Swissmedic approvals for Amlodipine Besylate, Metformin

Tata Consultancy Services, which has been appointed by the Centre to implement the ‘Passport Seva Project’, stated that implementation of the project at six pilot locations has been delayed because the ministry of external affairs did not make available the Disaster Recovery Site. The IT major hopes to roll out the project at the six pilot locations by October this year.

Read morePassport Seva Projec’ at six pilot locations delayed: TCS

The three leading commodity exchanges – the Multi Commodity Exchange (MCX), the National Commodity & Derivatives Exchange (NCDEX) and the National Multi-Commodity Exchange (NMCE) – recorded splendid turnover in August despite uncertainty over recovery in global economies that forced participants to play safe and hold back their investment and trading plans.

The three comexes that represent over 95% cent of India’s futures trade, witnessed 45.40% growth in turnover at Rs 6,17,484.83 crore in August 2009 as compared to Rs 4,24,666.28 crore in the corresponding month last year. Total agri business of the three exchanges soared 119% to Rs 121619.44 crore while non-agri business also advanced 34.33% to Rs 495865.40 crore.

Read moreCommodity exchanges record 45% rise in turnover in August