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Durables companies fast-track single-brand stores
Mono-brand stores, or single-brand retail outlets, have become the new growth mantra for consumer durables companies. What was a trickle initially is fast turning into a deluge, with leading companies drawing up aggressive plans to scale up their presence through mono-brand stores.

Pantaloon Retail's full year profit dips 54%
Higher depreciation charges, interest and employee costs have brought down the net profit of Pantaloon Retail, the country’s largest retailer, by 54 per cent for the financial year 2009.

News of the day

Geetanjali Krishna: The unofficial Tatkal service
It’s rather peculiar,” said a friend recently, “that of late, almost every time that I have tried to buy a train ticket, even if it is a month in advance, I have found myself wait-listed…” She was desperately trying to send off Sushil, her trusted right-hand man to Kolkata for some urgent business, and was unable to get tickets on any train going eastwards. “The air tickets cost upwards of Rs 12,000 — I don’t know what to do!” said she. Just then, her courier service provider, who happened to overhear some of this conversation, said, “Why are you getting so hassled madam? Just send him to the railway station and meet this travel agent friend of mine … he’ll get him on today’s Rajdhani to Kolkata!” But how could he do that when the train was full, she asked bemusedly. “It’s the unofficial Tatkal service,” said he.
Home Business

Oil touches $80 on better US economy

Oil prices touched $80 a barrel today in Asia on optimism a gradual US economic recovery in 2010 will boost demand for crude. - HPCL to supply Euro IV petrol in Hyd - IOC revisits Ennore project for LNG terminal, power unit - Petrobras to exit ONGC block, Shell keen to get in - UAE"s crude production could rise 12.5% by 2014 - ONGC loses Algeria oilfield to Chinese firm - Oil imports rise first time in over a year Benchmark crude for February delivery was up 63 cents at $79.99 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange after briefly changing hands at $80. The contract added 8 cents to settle at $79.36 on Thursday. Trading was closed Friday for the New Year holiday. Oil has jumped from $69 a barrel last month on signs the US economy may be improving. The unemployment rate fell to 10 per cent in November from 10.2 per cent in October, and the government is scheduled to announce December"s results later this week "Most people expect the economy to get better this year, and demand should follow," said Victor Shum, an analyst with consultancy Purvin & Gertz in Singapore. "But traders so far lack the conviction to trade oil above $80 simply because of there haven"t been clear indications of growing demand yet." Colder weather has also lifted crude prices recently by boosting demand for heating oil, Shum said. Oil prices rose 78 per cent last year. In other Nymex trading in February contracts, heating oil rose 2.52 cents to $2.14 a gallon and gasoline gained 2.11 cents to 42.07 a gallon.


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