http://www.rediff.com/money/index.html India's largest news and entertainment service online. en-us Fri, 18 Jul 2008 20:48:00 GMT Copyright: (C) 2008 Rediff.com India Limited. All Rights Reserved. http://www.rediff.com/uim/red_log.gif http://www.rediff.com/ 144 28 Visit rediff.com http://www.rediff.com/rss/redirect.php?url=http://www.rediff.com/money/2008/jul/18rcom.htm The much-touted deal between Anil Ambani group company RCOM and South African telecom giant MTN was called off on Friday. "The two sides were unable to conclude the transaction due to certain regulatory issues," RCOM spokesperson said in http://www.rediff.com/rss/redirect.php?url=http://www.rediff.com/money/2008/jul/18rbi.htm Reserve Bank of India Governor Y V Reddy has been awarded an honorary fellowship by the prestigious London School of Economics and Political Science for his contribution to the cause of the under-privileged. http://www.rediff.com/rss/redirect.php?url=http://www.rediff.com/money/2008/jul/18fm.htm Finance Minister P Chidambaram on Friday downplayed the lowering of India's credit outlook by global rating agency Fitch, saying it is not a cause of worry as economic fundamentals are strong. http://www.rediff.com/rss/redirect.php?url=http://www.rediff.com/money/2008/jul/18reliance1.htm An empowered group of minister headed by External Affairs Minister Pranab Mukherjee, has decided that companies 'would sell gas to consumers in accordance with the marketing priorities determined by the government.' "The sale would be on the basis of formula for determining the price as approved by the government," a senior official said citing the eGoM's decision. http://www.rediff.com/rss/redirect.php?url=http://www.rediff.com/money/2008/jul/18air.htm IA has cut fares on the UAE to Delhi and Mumbai routes by 20 per cent. The one-way fare has been cut from Dh500 (about Rs 5,500) to Dh 400 (Rs 4,400), while the fuel surcharge remains same. The new fares came into effect from July 14. Indian Airlines Regional Manager Abhay Pathak said the airline had introduced special fares to Delhi and Mumbai last Monday. http://www.rediff.com/rss/redirect.php?url=http://www.rediff.com/money/2008/jul/18fm1.htm He also made it clear that the government would not abdicate its responsibility in managing the economy saying it would be in office till the next elections. He was replying to queries on media reports about the influence of the corporates and their money power in the ensuing vote of confidence in the Lok Sabha on July 22. http://www.rediff.com/rss/redirect.php?url=http://www.rediff.com/money/2008/jul/18sensex.htm The BSE Bankex soared 8% (461 points) to 6,189. The Realty index surged 5.5% (242 points) to 4,670, and the Oil & Gas index rallied 4.3% (380 points) to 9,232. The NSE Nifty moved up 145 points to settle at 4,092. http://www.rediff.com/rss/redirect.php?url=http://www.rediff.com/money/2008/jul/18voda.htm "We always prefer long-term regulatory policies as we have to plan our businesses for long-term," Arun Sarin, the outgoing CEO of UK-based Vodafone Group, one of the world's largest mobile operators, said here. http://www.rediff.com/rss/redirect.php?url=http://www.rediff.com/money/2008/jul/18pe.htm An analysis of private investment in public equity in 2007 shows that these deals in the country have lost funds to the tune of $850 million till July 14 this year. The loss can be attributable to high entry valuations and the downward revision of risk appetite of the capital markets this year, NEXGEN Capitals, the merchant-banking arm of brokerage firm SMC Global Securities, said in its latest report. http://www.rediff.com/rss/redirect.php?url=http://www.rediff.com/money/2008/jul/18bspec.htm Those who oppose the deal cannot be trusted as much as those who are for the deal.