“Research In Motion (NASDAQ:RIMM) is reportedly making decent progress with UAE officials on working on the BlackBerry ban due to take effect October 11. The UAE will most likely be given access to encrypted messages while making addresses on concerns regarding privacy violations. SmarTrend currently has Research In Motion in a Downtrend.
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News Update: CBS Looks To Tap Into India’s TV Market Through JV With Reliance (CBS)
CBS (NYSE:CBS) is looking to tap into the vast library of programming by entering India’s rapidly growing TV market. Reliance, which is CBS’ India-based joint-venture partner, currently holds investments in a number of industries including radio stations, outdoor advertising and digital advertising, however, this move marks its first venture into TV. The venture, known as BIG CBS Networks, will operate three channels in India at first, allowing it to leverage the large library of English-language shows already owned by CBS.
News Update: Breaking News – Vedanta Plans to Buy Majority Stake in Cairn India, for up to $9.6B
Vedanta Resources plc (VED) will buy up to 60% of Cairn India Ltd (532792) for $9.6 billion to gain access to India’s biggest onshore oil field. Vedanta will pay a 32% percent premium over Cairn India’s average closing price over the past 90 days, and the company will borrow up to $6.5 billion to fund the acquisition. There is skepticism among industry analysts over whether such a deal will benefit Vedanta, citing the mining company’s lack of synergy with the oil production business. However, Vedanta Chairman Anil Agarwal said: “The proposed acquisition significantly enhances Vedanta’s position as a natural resources champion in India.” Cairn has the capacity to generate a quarter of India’s natural oil and gas. Vedanta is trading up closer to 7% on the news at 2178 British pounds. While Cairn India Limited is down closer to 7% on the Bombay Stock Exchange, and parent company Cairn Energy is up over 6% in London.
News Update: Breaking News – Vedanta Plans to Buy Majority Stake in Cairn India, for up to $9.6B
Vedanta Resources plc (VED) will buy up to 60% of Cairn India Ltd (532792) for $9.6 billion to gain access to India’s biggest onshore oil field. Vedanta will pay a 32% percent premium over Cairn India’s average closing price over the past 90 days, and the company will borrow up to $6.5 billion to fund the acquisition.
News Update: Research In Motion Bows to India’s Demands for Blackberry Access
“Research In Motion (RIMM) is down just under 1% in late morning trade, after it bowed to the Indian government and agreed to give the country access to its message service. RIMM is working to address the governments security concerns, Reuters reports, citing “”a senior security official.”" India had given RIMM until Aug
BlackBerry service could be shut by August 31 in India
“India’s government says it will shut BlackBerry services if issues are not resolved, Reuters reports. Research in Motion (RIMM) has been given until August 31 to address Indian security concerns or else email and messenger services will be shut down. The Indian government is asking for access to BlackBerry’s enterprise server and its instant messaging application. Law enforcement agencies in the country already have access to some BlackBerry services like voice, SMS and BIS, the government said.
News Update: Nestle may make an acquisition in India, Hindustan Times reports
In an effort to expand its product-line, Nestle (NSRGY) is reportedly considering making an acquisition in India, the Hindustan Times reports. Nestle India’s Chairman and Managing Director, Antonio Helio Waszyk, did not give a time frame for an acquisition, but says “This is the right time and we have to invest more here,” adding that an acquisition “may happen sooner than later.
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News Update: Qualcomm Wins BWA Spectrum in the 2.3 GHz Band in India – Light Early Share Interest
Qualcomm (QCOM) is a provisional winner of BWA (Broadband Wireless Access) unpaired spectrum in the 2.3 GHz band in four telecom circles in India.
News Update: Peabody Energy Said It Is In Preliminary Talks With Coal India (BTU)
Peabody Energy Corp. (NYSE:BTU) said that it is in preliminary talks with Coal India for long-term coal supplies and other possible co-operative ventures.
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BP could get backing from Mideast firms: report
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08/20/09 – Daily Forex Market News from cmsfx.com
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