Business, Finance & Stock Market updates for February 5, 2008

Centre may keep excise duty unchanged
Union Finance Minister P Chidambaram is likely to keep excise duty rates unchanged in the forthcoming General Budget, according to senior officials. ANI

FICCI suggests taxation of real estate investment trusts income on lines of mutual funds
The Federation of Indian Chambers of Commerce and Industry has advocated for taxation of real estate investment trusts (REITS) income on the lines of mutual funds and permission to investment in housing development activities. ANI

Centre asks industry captains to re-think on liberalising remanufactured goods trade
Senior officials of the Commerce Ministry on Tuesday advised Indian industry to apply themselves to the task of determining the stance that India should take in the World Trade Organisation (WTO) on liberalizing trade in remanufactured goods. ANI

Exports of hand tools suffer due to hike in steel prices
Due to steep rise in steel prices, the hand tools exporters of Jalandhar fears decline in export of their products.Perturbed over the steep rise in prices of steel and iron, the members of the Hand Tool Exporters Forum (HTEF) has requested the Central Government to take immediate steps to give relief to the Industry. Punjab has been contributing more than 90 per cent to the total export of hand tools from India. ANI

Former HUDCO CMD to join Hirco Developments
Hirco Developments Private Limited today announced the appointment of V Suresh as member of the senior management team. ANI

Highest investment proposals for Bengal
According to a study by Assocham Investment Meter, despite sharp ups and downs during the last one year Bengal has received the highest number of investment proposals among all the States in the third quarter of current fiscal. A total of Rs. 1,273.02 billion investments have been received in the State. ANI

Former CMD of HUDCO V. Suresh to Join Hirco Developments
Business Wire India

Pond's Age Miracle Kicks Off Unique SWAP Program
Business Wire India

IDS Bags First Order in West Africa
Business Wire India

Uniworld Logistics Selects Agile Labs as Technology Partner
Business Wire India

Van Heusen Woman Wins the Prestigious "Most Admired Womenswear Brand of the Year" at the 8th Annual Lycra ® Images Fashion Awards 2008
Business Wire India

Lion Rock Productions Announces that Director John Woo Falsely Linked to Recently Announced Online Game Based on Feature Film
Business Wire India

Second MetLife Study of the American Dream Shows Individuals Working Harder to Make Ends Meet and Think Economy is Heading in the Wrong Direction, but Still Optimistic
Business Wire India

Yatra.com Announces an Incredible New Year Offer!
Business Wire India

Trimming Time from Business Processes: Fragmentation and the Slow Computer
Business Wire India

Financial Year 2007/2008: Heidelberg Presents Figures for First Nine Months
Business Wire India

Business Wire Partners with Interfax to Provide More In-Depth Coverage of Greater China Market
Business Wire India

Recession concerns pulls NASDAQ down
The US markets had yet another bad trading day as the markets were down on concerns of rescission. NASDAQ, S&P 500, NASDAQ 100, Russell 1000, Russell 2000 are down over 3% while Dow Jones Industrial Average is down over 2.9% Feb 5 Closing Time GetPaidIndia

Asian markets closed mixed while European markets start their day in red
With the US markets closing their Monday morning in red, the Asian markets closed mixed on Tuesday. Fears of the Consumer and services sector, credit woes of the Banks are the prime reasons for the worrisome trades on the stock markets. GetPaidIndia

Air Arabia offers family packages with competitive return fares for Dubai Shopping Festival (DSF)
Air Arabia, the first international Low Cost Carrier to fly to India has announced a special package for the Dubai Shopping Festival. Integral PR

ETA Star Appliances brings Indesit, Leading Italian Appliance Brand to India
ETA Star Appliances, a fully owned subsidiary of the USD 5 billion ETA Ascon Star Group, Dubai, signed a marketing agreement with Indesit today. Ogilvy Public Relations Worldwide

Indian markets continue to stay volatile, close flat
Volatility is into play as the Indian stock markets had many course reversals finally closing flat by the time the closing bells are rung. Sensex closed a mere 2.84 points up at 18,663.16 while the CNX Nifty closed at 5483.90. IT, Auto and Banking stocks are the worst hit. GetPaidIndia

Indian markets open in red, IT worst hit
Indian stock markets opened in the red after the US and Asian markets ticket red. Nifty is marginally down by 0.47%, CNX 500 down by 0.20% and CNX IT down by 1.32%. Even the Bank Nifty is down by 1.16%. Sensex is down 63.86 points or 0.34%. TCS news has hit the IT stocks. GetPaidIndia