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CB Bhave, Chairman of the Securities and Exchange Board of India (Sebi) in his address and conversation with CNBC-TV18's Managing Editor, Udayan Mukherjee, at the Hindustan Times Leadership Summit, said that India is closely linked to the world economy and the global credit markets, especially via trade but feels India would be amongst the fastest in the world to recover. "Every crisis is an opportunity. We have learnt a lot during the month of October. We should use this opportunity to improve our system. When the chips are down, we must build for the future, and not just be unhappy that the chips are down, because this country will recover most probably amongst the fastest in the world. We will feel the effect of what is going on in the world but we will be amongst the first few that recover. When we do recover, our weight in the world will be more than what it was before the crisis." Bhave is uncertain as to when the markets will bottom out and he advises people not to

Franklin Templeton Investments (India), has announced its eleventh dividend of 60% (i.e. Rs 6 per unit on Face Value of Rs.10), in its open end diversified equity fund - Franklin India Prima Fund. All investors registered in the Dividend Plan as on June 18, 2008 will receive this dividend. (Pursuant to payment of dividend, the NAV of the fund would fall to the extent of payout). The record date for the dividend is June 18, 2008 and any purchases on or before this date will be eligible for the dividend. There will be a one-day book closure for the growth and dividend plans on June 19, 2008 and will reopen for fresh purchases and redemptions on June 20, 2008. Under the dividend reinvestment plan, the dividend declared will be reinvested at the NAV of June 20, 2008 and unit holders will be allotted additional units for the dividend amount. Franklin India Prima Fund was launched in December 1993, and currently manages over Rs.1019 crores of assets for over 143,500 investors. The scheme see

Birla Sun Life Mutual Fund has launched Century SIP, a unique systematic investment plan offering an opportunity to create wealth with as little as Rs 1000 per month plus a life insurance cover of up to 100 times the monthly installment. This plan comes along with free term insurance for an individual up to 55 years of age. The life insurance cover comes at no extra cost to the investor. The cover is hassle free. The investor need not go thru any medial test to avail of the life cover. All an investor needs to do is enroll for CSIP & sign a “Declaration of Good Health”. In case of unfortunate demise of investor the insurance claim will be directly paid to the nominee by the insurance company (Birla Sun Life Insurance Company). Announcing the launch of Century SIP, Anil Kumar, CEO, Birla Sun Life MF said, “This offering touches all aspects of an investor’s financial planning needs. We wish to encourage the investment habit among investors by providing them life insurance cover.” Ins

Aditya Birla Nuvo plans to invest Rs 400 crore to open 80 Peter England People stores, spread across 10,000 -12,000 sq ft, in next five years. It would launch the brand in Bangalore by June this year and later in cities like Delhi, Hyderabad, Chennai and Kolkata by end of 2008. The market for apparel segment for organized players is estimated at Rs 4,900 crore and is expected to grow to Rs 1,30,000 crore in the next five years. The company expects to collect Rs 4,500 crore ($1.5 billion) revenue from the apparel retail business in next five years. Madura Garments, the apparel retail business of the group, is looking to emerge as one of the top three retailers in the country in five years. Madura has 250 flagship stores for brands such as Louis Philippe, Van Heusen, Allen Solly and Peter England. Last year, the company had posted revenue of Rs 1,025 crore. Aditya Birla Retail currently operates 550 super markets and two large format stores under the More brand. The company is slated to

Indian tyre manufacturer Ceat Limited, has decided to set up its proposed Rs 500-600 crore greenfield radial facility in Gujarat. According to sources close to the State Government, the company has recently filed an application for the allotment of approximately 100 acres at either Halol near Baroda or Bharuch for setting up the proposed 36-lakh radial tyre facility. Apart from passenger tyres, the proposed plant would also host a pilot facility to manufacture 2.5 lakh truck-bus radials per annum. Ceat has lauched a new website. The newly launched website features information about the company, the product range, along with tyre maintenance and information pages. The company has reported a net profit of Rs 148.6 crore for the year-ended March 31, 2008, against Rs 29.25 crore a year ago. The company's board has recommended a dividend of Rs 4 per share.