Standard & Poor launches ten stock India index
Global index provider Standard & Poor’s on Wednesday launched an index of ten Indian stocks to provide foreign investors an exposure to the domestic market, reports PTI from New Delhi. The ‘S&P India 10 index’ comprises stocks of largest and most liquid Indian firms, including Infosys Technologies, ICICI Bank, HDFC Bank and Sterlite Industries.
Ashok Leyland concludes $200 million ECB
Ashok Leyland (AL), on Wednesday, concluded an External Commercial Borrowing (ECB) programme of $200 million claiming to be the largest ever loan taken by the company in a single transaction till date, reports DHNS from Mumbai. The ECB will partly fund the requirements of the company to meet its expansion plans and overseas investments, it said.
Global accounting        standards by 2011: ICAI
India will adopt the globally accepted International Financial Reporting Standards  by 2011, a move that will integrate the accounting system with the rest of the world, said Institute of Chartered Accountants of India (ICAI) on Wednesday. “A common accounting standard is in the interest of the investors who are exploring investment opportunities in other geographical areas as well,” said ICAI President Ved Jain.
Religare to acquire Hichens for Rs 440 cr
Religare Enterprises has made an offer of about Rs 440 crore to acquire UK-based broking firm Hichens Harrison, a move that aims to broaden the global distribution business of the company, said Group Chief Operating Officer Shachidra Nath in New Delhi on Wednesday.
The acquisition would add up to the bottomline of the firm, Nath added. Hichens Harrison has over 200 years experience of giving quality service to the discerning investor. 
Brigade’s Mangalore IT SEZ Project gets approval
Brigade Enterprises Ltd, a real estate developer, recently announced that the SEZ Board, Ministry of Commerce, Government of India has approved its Rs 350-crore Special Economic Zone (SEZ) project focusing on IT to come up on a 25-acre plot in the IT/ITeS/ EPIP Industrial Area - Ganjimutt, Mangalore. The project, located between Mangalore city and the airport, will have a software park with host of amenities like food court, business centre, service apartments and a hotel.
YES BANK launches instant money transfer facility
Obopay India and YES BANK, on Wednesday, announced in Mumbai an alliance to launch mobile payment solutions in India. The secure Obopay mobile payment solution will allow YES BANK customers to send money from any mobile number to any other mobile number instantly, either using a mobile application downloaded on their mobile phones (J2ME), or a web application having GPRS connectivity (WAP) or through the popular instant messaging services using the SMS facility. YES BANK customers now have the opportunity to transfer upto Rs 25,000 per transaction to 24 crore mobile users in the country using the SMS facility, so long as these users are registered with the YES BANK-Obopay Mobile Payment Solution service.