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Popular Articles

Morgan Stanley PD eyes position among top 5 bond houses
Morgan Stanley India Primary Dealer , which commenced operations early this week, aims to be amongst top five bond houses in terms of market share.

Pulses import rises by 20% during Apr-Oct
India imported 20 per cent more pulses during the April-October period this year at 1.59 million tonnes to bridge the demand-supply gap in the domestic market that has led to a sharp rise in prices.

News of the day

National mission for empowerment of women in offing
Women will be able to avail a single window service for all programmes run by the government for them under a new national mission for empowerment of women. Minister of State for Women and Child Development Krishna Tirath today said the mission will help make development programmes easily accessible to women from all sections of society.
Public Relations

Dubai crisis not to hit DP World's ops: chief

Asserting that it has positive cash-flow position, debt-ridden Dubai World"s subsidiary DP World, which operates container terminals in the country, today said the debt crisis would have no impact on India operations. - UAE stocks soar after Abu Dhabi"s $10-bn aid - Abu Dhabi gives Dubai $10 bn to cover debt - Nakheel posts $3.65 bn loss in H1 "09 - Drydocks not to be part of Dubai World revamp - Dubai crisis to hit 200,000 Indians - Dubai World meets six largest lenders: report "The company has a positive cash-flow position and can continue its operations comfortably," DP World (Subcontinent Region) Managing Director Anil Singh told PTI here. He also said that DP World"s aggressive investment plans in India will remain unchanged. Earlier, the government had expressed apprehensions over the impact of the Dubai crisis on some major ports in India, where DP World operates container terminals. Rating agencies had put DP World"s Indian port projects on a negative watch. After the news of Dubai World demanding a six-month standstill on its $59-billion debt broke last month, the Ministry of Shipping asked the ports associated with DP World to provide data to ascertain whether the crisis would have any repercussions on the country. Dubai World holds an 80 per cent stake in DP World, which accounts for 40-45 per cent of container traffic in India. DP World is the fifth-largest port operator in the world and is either operating or developing terminals at Mundra, Navi Mumbai, Kochi, Chennai, Visakhapatnam and Kulpi. Its investment in the country stands at over Rs 9,000 crore. Globally, DP World, which operates 45 terminals in 29 countries, has a debt of $4.7-billion (June 2009) and a cash balance of $3-billion.


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