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KATHMANDU: Two Indian construction companies are in the fray for a project to improve Nepal's lone international airport in Kathmandu. New Delhi's IRCON International Limited and an Indo-Nepal joint venture between Mumbai's Valecha Engineering Ltd and local partner Y P Construction are among...

NEW DELHI: In the last couple of months, rentals of central and suburban business districts of Delhi (CBD & SBD), comprising areas such as Connaught Place and Nehru Place, have touched all time highs. On the other hand, for the first time in the last half a decade or so, commercial rentals in...

NEW DELHI: Alarmed by reports that credit card companies have collected over Rs 6,000 crore in a decade from customers by way of fines and late fee, India's anti- monopoly watchdog has ordered a probe into the fees levied by them. The Monopolies and Restrictive Trade Practices Commission (MRTPC)...

NEW DELHI: Indians are still not sure of the plastic money. Credit cards spend as a proportion of the total expenditure by Indians is one of the lowest in the world. While Indians swiped plastic money worth $6 billion in 2006, credit card users in Korea cumulatively spent $136 billion. Indians...

Aggressive advertisements of credit cards, personal loans and consumer loans are targeting the middle/lower middle class. These unsecured loans in many cases may be of a small ticket size, but, they carry high interest rates and also other charges in the event of default. In many cases, lending...

There are about 22 million credit cards in India (as on January 2007). And the total value of such transactions almost doubled between 2003-04 and 2005-06, to around Rs 33,900 crore. The latest available data, which covers the first 10 months of 2006-07, indicates continued robust growth, in...

MUMBAI: Indian Overseas Bank (IOB) will be the new partner in the credit card business led by Life Insurance Corporation of India (LIC). The board of the bank has approved the proposal to acquire up to 10% equity stake in the proposed company. Meanwhile, last fortnight, LIC received an approval...

MUMBAI: Soon, you may pay less for life insurance policy. It will depend on where you live and how long. With people living longer these days, life insurance premiums are falling across the world, and Indian companies want to revise the rates to reflect the changing trends. In fact, top...

MUMBAI: The much-awaited new mortality tables for the life insurance market, which have been pending for more than a year now, are likely to come out in the next six months. These tables are almost a decade old and the industry, as a whole, has been asking for revised mortality tables to give...

MUMBAI: Insurance companies may not be able to meet capital requirements through issue of hybrid instruments in the immediate future. Insurance regulator the Insurance Regulatory Development Authority (IRDA) is disinclined towards extending this facility which has been made available to banks...

HYDERABAD: The Insurance Regulatory Development Authority (Irda) is set to allow insurance companies to invest in a few more financial instruments, including derivatives. The proposed move will enhance returns for policy holders. Derivatives, such as options and futures, are financial...

Should insurance need be separated from investment? Though opinions vary, buying term policies works out to be the economical option. Since a term plan is a pure-risk insurance product, its premium works out much cheaper than, say, an endowment plan. For instance, an endowment plan of an...

MUMBAI: DSP Merrill Lynch Fund Managers Thursday announced the launch of DSP Merrill Lynch World Gold Fund, an open ended fund of funds scheme investing in gold mining companies through an international fund The primary investment objective is to seek capital appreciation by investing mainly in...

MUMBAI: DSP Merrill Lynch Fund Managers Ltd said on Tuesday it would no longer charge the 2.25 per cent entry load in World Gold Fund for investments of Rs 50 million or more. The load stays for lesser investments. The fund house managed assets worth about Rs 128 billion at the end of June, data...

MUMBAI: ABN AMRO Asset Management (India) Ltd said on Tuesday it has extended the closing date of ABN AMRO Flexible Short Term Plan-Series F to July 30 from the earlier scheduled close of July 24. The fund house managed assets worth about Rs 69 billion at the end of June, data from Association...

MUMBAI: Fearing that potential investors would be driven away because of the requirement of mandatory quoting of PAN, the mutual funds industry has charged it was being discriminated against, especially with relation to other players in the financial sector. While Permanent Account Number is...

MUMBAI: Retail investors looking to cash in on the booming stock market have been increasingly taking to the mutual fund route over the past few years. While this has no doubt fattened the bottomlines of asset management companies, it is mutual fund distributors who are actually laughing all the...

MUMBAI: IT investment and spending is set to rise in the US, according to a forecast by Forrester Research. This may be good news for Indian vendors hurt by the rising rupee and worries of troubles in the sub-prime lending space spilling over into other areas. “With a moderate tech investment...

MUMBAI: Xerox’s Global Services (XGS), a division of the $15.9-billion document management company, is all geared for an expansion overdrive in India. In line with the company’s improved focus on its services business in the country, the company hopes to double its workforce in India for XGS...