Public Company
The body of veteran Marxist leader Jyoti Basu was taken in a hearse here this morning from a funeral parlour where it had been preserved since his death on January 17.
PricewaterhouseCoopers’ (PwC’s) head of tax practice Dinesh Kanbar, and close to a dozen other senior tax executives, are leaving the firm to join rival KPMG.
Amidst reports that he may join NCP, Amar Singh, who has resigned from all SP posts, today came out in defence of Agriculture Minister Sharad Pawar, saying the issue of price rise was the collective responsibility of the Cabinet including Prime Minister Manmohan Singh.
Upbeat with successful trials after the soft launch of its video telephony devices, Ahmedabad-based IT solution provider, Sai Infosystems (India) Limited (SIS) expects to sell around 10,000 units of the same in the first two months of commercial launch that is expected in November this year. The company is rolling out video phone service in Gujarat in association with BSNL.
Aditi Phadnis / New Delhi November 14, 2009, 0:26 IST
Signs of a deepening recession in the US, Japan and Europe have prompted investors to pull money out of developed-market stocks.
India said the Chinese government had assured it no dam on the Brahmaputra was proposed
The Central Bureau of Investigation (CBI), probing the Satyam Computer Services fraud case, is currently in the process of preparing Letters Rogatory, which would be vetted by the Ministry of External Affairs before being presented in the court.
Robots by Indian entrepreneurs are being developed at less than half the cost of imported ones.
Following the Insurance Regulatory Development Authority’s (Irda’s) cap on insurance charges, Life Insurance Corporation (LIC) is looking at measures like increasing the minimum premium and lock-in period, and rejigging other expenses such as fund management charges, for unit-linked insurance plans (Ulips).
JSW Energy proposes to enter the capital market with an initial public offering (IPO) to raise nearly Rs 3,000 crore in the near future.
JSW Energy has provided the much-needed lifeline for the group’s Rs 35,000 crore project in Bengal, by taking up the power project .
With Indian Railways having developed two automobile wagon rakes (trains), with a holding capacity of almost 550 cars each for transport of vehicles from sites closer to their manufacturing bases to their final destination, auto manufacturers say they look forward to increasingly using this form of transport for their products.
The increase in the tax on aviation turbine fuel (ATF) from 4 to 16 per cent in Andhra Pradesh would fetch the state exchequer an additional revenue of around Rs 120 crore a year, but it might take away the advantage Hyderabad enjoyed because of its lower tax rates.
The stock markets rose sharply on Monday on the back of strong gross domestic product (GDP) numbers and firm global cues. The Sensex closed at 16,926, higher by 294 points, and the Nifty re-gained the 5,000 mark to close at 5,026, up 84 points, on a steady day of trade. The Sensex had surpassed the 17,000 mark (17,096) in intra-day trades.
Cases of attacks on Indians in Australia have increased more than five fold this year compared to last year, the Rajya Sabha was informed today.
Government today said it is concerned about development of backward districts and of "BIMARU" (Bihar, Madhya Pradesh, Rajasthan and Uttar Pradesh) states and has allocated Rs 4,670 crore for underdeveloped districts for the 11th Plan period.
Rajya Sabha was today adjourned for 10 minutes following a clash between ruling and opposition members over development of Bundelkhand region.
Palak Shah / Mumbai November 26, 2009, 1:21 IST
The Bombay Stock Exchange’s Healthcare Index has outperformed its benchmark, the BSE Sensex, surging 33 per cent in six months (Sensex up 17 per cent) and 21 per cent in the past three months (Sensex up 8 per cent), indicating that investors have started re-rating pharmaceutical companies.
Not impressed by the ambitious plans announced by Road Transport and Highways Minister Kamal Nath, the Planning Commission has advised the ministry to fix a “reasonable target” for construction of roads this year. “...Fix a reasonable target for award of contracts in the rest of the current year and raise it subsequently as soon as possible,” the commission said in a communiqué to the highways ministry. The commission pointed out to the ministry that it would not be able to award road construction contracts for more than 3,794 km in 2009-10, against a target of 12,652 km.
Haryana Chief Minister Bhupinder Singh Hooda today indicated that an FIR under abetment to suicide complaint filed two days back by Ruchika"s brother may be registered once investigations are completed.
The Karnataka government is contemplating sending a proposal to the Centre seeking compensation for big farmers who lost their crops during the floods that ravaged parts of north Karnataka in October.
The two-month-long arguments in the legal dispute on gas supply between RIL and RNRL ended today, with the central government’s counsel firing salvoes at both the warring Ambani brothers for apportioning shares in public property.
A generational change in the BJP hierarchy may be on the anvil with L K Advani all set to quit as Leader of Opposition in Lok Sabha tomorrow and party President Rajnath Singh stepping down on Saturday.
The implementation of goods and services tax (GST) from next financial year will result in the reduction of tax burden for the industrial sector and make it more competitive, a senior official said today.
The proposed dual goods and services tax (GST) would subsume more taxes than envisaged and eventually all the indirect taxes, as a phased approach was being adopted, said chairman of the empowered committee of state finance ministers, Asim Dasgupta.
Anglo-Australian mining major Rio Tinto today said it would make its first-ever sale of iron ore in India, to Essar Steel.
Gujarat government has given its green signal to Nirma Ltd"s controversial cement plant in Mahuva. The company has been aiming to foray into cement production by setting up a 2.4 million tonnes cement plant in Bhavnagar district for an estimated investment of Rs 1000 crore, according to industry sources privy to the development.
Gujarat Chief Minister Narendra Modi has invited former President APJ Abdul Kalam to act as motivational speaker for his cabinet members at this year"s "Chintan Shivir" organised in the wilderness of the Kutch desert.
CORPORATE AFFAIRS MINISTER SALMAN KHURSHID:
Over 50 per cent of the electorate cast their votes in the fourth phase of the assembly polls in 14 Maoist-affected constituencies in Jharkhand, which passed off peacefully today amid tight security.
Only 7.15 per cent polling was recorded till 9 am in the fourth phase of assembly elections in the naxal-affected 14 constituencies of Jharkhand, according to Election Commission sources here.
Around 35 per cent voting was recorded till 1300 hrs today in the first phase of elections to 26 Assembly seats in Jharkhand.
The Supreme Court (SC) last week asked the Haryana Financial Corporation to refund the amount received from a buyer of a defaulting unit as it had not disclosed certain vital facts to the buyer. The corporation had forfeited the amount when the buyer withdrew from the contract of sale. The SC stated in the case, Haryana Financial Corporation vs Rajesh Gupta, that a “mere perusal of the provisions of the Transfer of Property Act will show that it was incumbent upon the corporation to disclose to the buyer about the non-existence of an independent passage to the unit. It was also the duty of the corporation to inform the buyer that the passage mentioned in the revenue record was not fit for movement of vehicles. The corporation also failed to show the buyer the entire documentation as required by law.”
Indian diplomats are expected to meet Australian officials in a bid to difuse diplomatic tension between Canberra and New Delhi after the murder of 21-year-old Indian migrant in Melbourne.
The Ministry of Human Resource Development (MHRD), at the 56th meeting of the Central Advisory Board of Education (CABE), chalked out an extensive agenda for education in the country, based on the principles of expansion, inclusion and excellence.
As India issued a travel advisory for Australia following unbated assaults and killing of its citizens, Deputy Prime Minister Julia Gillard insisted that her country is safe for all international students and said "acts of violence" occur in big cities around the world.
In yet another attack on Indians here, an engineering student from the community was racially abused by a group of Australians, including a woman, who also punched him in his left eye.
- Vidal, withal - Energy sleuth - Pulp fiction - Hello, China - Mountain lines - Prefaces
Gears up to launch stock, commodity futures in three years.
International Atomic Energy Agency (IAEA) chief Mohammed ElBaradei has asked Iran to respond swiftly to the "unique" offer made by the US, France and Russia to process its enriched uranium fuel abroad.
Shankar Acharya / New Delhi December 10, 2009, 0:49 IST
India’s energy scenario poses the challenge of investing adequately to narrow the demand-supply gap and reducing import dependence.
The global economic recovery augurs well for domestic companies having a large exposure to overseas markets.
The power ministry has asked the petroleum ministry to place a proposal before the empowered group of ministers (EGoM) to allot 12 million standard cubic meters per day (mscmd) of gas from the KG-D6 block to state-run NTPC at $2.34 (about Rs 107) per million British thermal unit (mBtu).
With a relative surge in world prices of natural rubber (NR) as compared to domestic ones, the hitherto heavy inflow of imports seems to have got arrested.
The Planning Commission today said the economy may grow at a rate higher than 6.3 per cent projected earlier as it sees drought having lesser impact on agriculture.
Gold futures prices declined by 0.11 per cent on the Multi Commodity Exchange today as speculators indulged in reducing their positions in tandem with weak overseas trend.
Upbeat from the success of his designer limousine rental business, Shashin Shah of Yogi Auto Care has now come up with a second lounge-look limousine developed by leading designer Dilip Chhabria. Shah plans to expand his limousine fleet to have at least one such modified car in every major city of Gujarat in the coming years.
The country"s leading automobile firm, Tata Motors, today said it has increased prices of some of its commercial vehicles by around 1 per cent on account of rising input costs and addition of new features.
Gains in global markets and foreign buying helped Sensex move past 17,000 mark after 15 months. In a truncated week, BSE Sensex rose 440 points or 2.6 per cent to 17,135 and Nifty rose 125 points or 2.5 per cent to 5,083. Broader indices performed better than BSE Midcap and BSE Smallcap indices, each delivering 1.2 per cent and 1.8 per cent, respectively. The market was buoyed by IMF"s statement that India’s GDP would grow at 6.4 per cent for CY09 and that the world economy would contract less than expected.
In signs of easing labour market situation in the US, the number of first time claimants for jobless benefits declined by 26,000 to 550,000 for the week ended September 5.
Volkswagen’s decision to buy a stake in Suzuki Motor Company of Japan is proof of just how far Maruti Suzuki India Limited has come in Suzuki’s global activities. Under the agreement, apart from the larger capacity diesel engines that Suzuki will now be able to source from the German auto-maker, it will supply small cars that Volkswagen will sell under its brand name in Europe.
Akash Prakash / New Delhi December 25, 2009, 0:38 IST
Measures like de-hoarding and selective import of certain items could help tame the soaring food inflation, said Kaushik Basu, chief economic adviser in the finance ministry.
With food inflation rising to a 10-year high, the Reserve Bank of India (RBI) and the finance ministry today discussed the macroeconomic situation and the monetary policy stance. The meeting assumed significance, as this would decide the course of action by RBI to combat rising inflation.
Reliance Industries Executive Director R Ravimohan is no more. He died Monday night due to a severe cardiac arrest. He was 52. Ravimohan is survived by wife Madhuralakshmi, daughter Hridaya and son Jagad.
Tyre maker Ruia Group today said it will raise Rs 100 crore in listed entity Falcon Tyres through private placement of shares and dilute 10 per cent in Dunlop India for capacity expansion over the next few months.
Dilip Kumar Jha / Mmbai August 11, 2009, 0:24 IST
Rajasthan-based Rallison Electrical Private Limited today launched the country"s first Fire Survival Cable and targeted to achieve turnover of Rs 500 crore in the current fiscal.
Cotton exports from India, the second-biggest grower, will more than double this crop season as China and Pakistan seek more fiber to make up for a shortfall in supplies from the US, a government official said.
India is unlikely to achieve the $200 billion export target this fiscal due to the continuing global financial crisis, the Rajya Sabha was informed today.
Spurt in prices to be driven by dollar weakness, rise in demand and low supplies.
Encouraged by the outcome of earlier initiatives, the Centre is preparing a roadmap to take the disinvestment process forward over the next two years.
Apex industry body Ficci has suggested that the government should encourage companies to invest in corporate social responsibility initiatives by giving tax incentives instead of making it binding.
The reversal of easy monetary policy would be a gradual process as the central bank is focusing on striking a balance between growth and inflation, Reserve Bank of India (RBI) Deputy Governor said here today.
Spurred by huge demand from power, telecommunication and housing sectors, India’s copper consumption is likely to rise 5-6 per cent this year. The three sectors account for 65 per cent of the total demand in India.
The government today said creation of jobs for women under the state-sponsored schemes fell to 72,701 in 2008-09 from 3,62,918 in 2007-08.
State-run power utility PowerGrid Corporation today said its Rs 2,000-crore follow-on public offer (FPO) is likely to hit the capital market by March 2010.
I read Catcher in the Rye again after 21 years… I wanted to understand the nature of JD Salinger’s hold on the teenager who lives on in my middle-aged heart… I think people go back to prison again and again because they find out how easy it is to live behind walls. If you mind your own business, and fight just enough to establish your own space, people don’t bother you much. There’s plenty of time to read and brood; all in all, not a bad place for ducks to spend the winter.”
Conservation, metering, end-use languish under deficit-ridden Board.
BJP MLAs from North Karnataka, particularly those loyal to Assembly speaker Jagadeesh Shettar, are in a dilemma. They do not know whether to support the candidature of Shettar as an alternative leader or to continue supporting CM Yeddyurappa.
US President Barack Obama says he is eagerly awaiting to host Manmohan Singh for the first State Visit next month and that he considers India and the Prime Minister as “part of his family”.
Sunita Narain / New Delhi October 23, 2009, 0:27 IST
Banks and corporations see value in 140 characters.
Israeli drug firm Taro Pharmaceuticals has filed a law suit in a US district court against Mumbai-based Sun Pharmaceutical Industries alleging violation of non-disclosure agreement and misleading shareholders.
Drug manufacturer Aurobindo Pharma today said it will acquire Trident Life Sciences (TLSL) for an undisclosed amount.
The government today said it will allow the retail sale of "oseltamivir", the only medicine available to treat the swine flu virus "H1N1".
Eight out of top-10 firms managed to add over Rs 22,000 crore to their market capitalisation (m-cap) in the holiday-truncated past week, with NTPC contributing a major chunk to the kitty.
Food supply department of Rajkot on Thursday seized pulses stock worth Rs one crore, which was kept illegally by two city-based traders. The case of illegal stock has been handed over to the collector as the amount involved is quite big.
The Rs 15,000-crore steel pipes industry is set to grow 20-25 per cent in the next 3-4 years following massive investment laid out on energy security by the governments of developing economies. Developed economies require a change in existing pipelines that were installed over 25 years ago and demand is likely to emerge from various sectors of global economies.
A strong market rally triggered by the government"s encouraging economic growth forecast helped the country"s top-10 companies add over Rs 70,000 crore in the past week.
KEC International, a part of the Rs 15,000 crore RPG group has won orders in Algeria and Abu Dhabi worth Rs 474 crore and Rs 76 crore respectively. KEC will undertake five turn key projects worth Rs 474 crore for CEEG spa in Algeria. The total length of these five projects is 858 km and completion period ranges from 12 to 18 months.
Famed British toy retailer Hamleys will make its India debut with a 22,000-square-feet store at the popular Phoenix Mills in Mumbai, by February next year.
Ratan Tata’s recent revelation that his successor could be a foreigner may have been too much for other Indian businessmen to swallow. Few, after all, are ready to turn their business over to a professional to run, let apart a foreigner. Yet, many of them have begun to appoint foreigners in key leadership positions.
City-based logistics solutions provider DRS Logistics Private Limited is embarking on a Rs 450-crore expansion that envisages construction of warehousing facilities in south India by the end of the next financial year.
Jyoti Mukul / New Delhi October 16, 2009, 0:11 IST
Indian companies to feel added pressure.
Honda Motorcycle and Scooter India Limited (HMSI), the market leader in the scooter segment in the country, expects a 17 per cent growth in its turnover in the current fiscal. The company clocked a turnover of Rs 500 crore in 2008-09.
Shopper’s Stop, the retail chain major, has seen a marginal dip in the sales of its private labels this year.
The Goa government today said it will invoke the Epidemic Act only when chartered flights, carrying foreign tourists begin to arrive in the coastal state, in September end.
The government and various PSUs may be on an austerity drive, but this didn’t stop ONGC from sending a calendar to a director in the oil ministry by registered post — the stamps on the calendar were worth Rs 122. It would have been cheaper for ONGC’s office in the capital to send it with a driver.
Bharati Shipyard is mulling a Rs 200-crore capital expenditure over the next two years, a top company official said.
Drug firm Glenmark Pharmaceuticals today said it has received approval from the US Food and Drug Administration (FDA) for an ointment used in treating skin problems.
Drug maker Glenmark Pharmaceuticals today said it was facing a lawsuit in a US District Court for a patent infringement case of an anti-malaria product.
World’s largest steel maker ArcelorMittal will sell its 28.6 per cent stake in Canada-based Wabush Mines for about $34.28 million.
Zee Entertainment Enterprises (ZEEL) today said its board has approved the share swap ratio for the merger of the company"s subsidiary ETC Networks with itself.
Indian entrepreneurs may get a shot in the arm with the Union government’s Department of Science and Technology (DST) trying to join hands with private venture capitalists (VCs).
Optimistic on job losses, but closely watching the situation, says overseas Indian affairs ministry
The food and commerce ministries are at loggerheads over exempting sugar mills from export- obligation and the Cabinet will now decide whether or not the obligation can be waived beyond December 31, official sources said.
Mahindra Satyam, the new brand identity of Satyam Computer Services, a leading global consulting and IT services provider, has selected Malaysia to kick off international expansion - enlarged its global solution center operations in 15 acre campus in Cyberjaya, the company said in a BSE filing.
Although the company has acquired overseas companies in the past, a big-ticket acquisition in future may warrant fresh equity issue.
After frustrating traditional bid attempts for its SEZ-categorised IT parks in Indore, Bhopal, Gwalior and Jabalpur, the Madhya Pradesh government is likely to re-bid for the parks through Swiss Challenge System, under which the government can also take offers from private parties, unsolicited. It is also likely to change the model of sale of IT parks so that the developers can attract private partners. Crystal IT park in Indore, a complete infrastructure of eight-storied building, has no taker for years, and the Bhopal IT park is reportedly going the same way before it can see the light of day. Few months back Zoom Developers pulled out of the Crystal IT park project after successfully bidding for it.
Business Standard / New Delhi December 1, 2009, 0:09 IST
After 20 years in the making, the Kaveri jet engine will finally take to the skies.
Private sector companies engaged in aerospace manufacture and R&D now have an influential new supporter: The Indian Air Force (IAF). In New Delhi today, the IAF’s vice chief, Air Marshall Pranab Kumar Barbora forcefully called for government policy changes to encourage the private sector in aerospace production, to kickstart a sector that has long been dominated by public sector Hindustan Aeronautics Ltd (HAL).
Six global vendors have been shortlisted.
Plan panel aims at making data accessible in analytical format
Financial service major Citigroup is planning to relaunch Citi Alternative Investments, a unit that contains its hedge fund operations, a media report said.
Will take into account the changed needs of both countries.
Government to hold detailed review of coastal security to coincide with 26/11 Mumbai terror attack anniversary, says Defence Minister A K Antony.
Uttar Pradesh Chief Minister Mayawati has reacted strongly to media reports regarding the central government decision of making 80 per cent marks in intermediate level as cut-off for the IIT entrance test.
Ever since the Clinton visit, rumours have been flying fast and furious. Insiders claim that India has fast forwarded the Nuclear Civil Liability Bill, and the media has held forth at length on the probable facts and interpretations. Some angst is misplaced, for example the exclusion of the jurisdiction of civil courts.
Strengthen the immune system with the right foods when down with dengue or swine flu.
People from socially and economically-backward sections had a glimmer of hope in 2009 as the government went ahead with its policy of social inclusiveness.
It was another lacklustre day of trade. The markets oscillated between either side of the dotted line before ending virtually unchanged. The Sensex closed at 16,894,lower by 18 points and the Nifty ended flat at 5041. Realty and energy stocks were in the doldrums, while consumer durables and pharma stocks looked up.
Crucial Support at 4,800
Three train accidents, 69 flight disruptions and power failure in four states on the first fog of the season
American couple Michaele and Tareq Salahi, who gatecrashed into a State Dinner on Tuesday, came face to face with US President Barack Obama as well as Prime Minister Manmohan Singh at the event, in the White House.
A suicide bomber today blew up his car outside the compound of the Indian Embassy in the Afghan capital killing at least 12 people and leaving 83 wounded, including three ITBP jawans, in a fiery blast that had all the hallmarks of Taliban.
Asian stocks fell for the first time in three days as Japan Airlines Corp and Asiana Airlines Inc plunged on debt concerns and as lower oil and gold prices dragged down commodity producers.
Sreelatha Menon / New Delhi September 27, 2009, 0:09 IST
IT education provider NIIT today said it has entered into a strategic alliance with business software provider SAP India for offering software training programmes in the country.
Bengaluru International Airport today reported that passenger traffic would top 9.3 million in the calendar year 2009 with cargo handled during the 12 months estimated at 1,61,896 tons.
Normal life was disrupted in non-Telangana regions of Andhra Pradesh, as the bandh called by the All party Joint Action Committee (JAC) in support of United Andhra Pradesh began today.
A parliamentary panel has rapped the steel ministry for under-utilisation of funds by Public Sector Undertakings (PSUs) like SAIL and RINL, and said the Budgetary Estimates (BE) may be “inflated”.
Intermediate trend bullish, short-term trend neutral
National Trust’s insurance scheme and a legal guardian programme gives hope to millions for parents who worry about the future of their mentally-disabled children.
Under attack for its climate policy for Copenhagen summit, the government today said India will not accept any legal binding on emission cut and rejected any proposal that would put a cap on the carbon emission.
After a lull of investments in the venture capital space last year, the US venture capitalists are optimistic about the future prospects of this segment in 2010 and said that India and China would attract a large chunk of these fund flows, a study said.
Getting the right packaging material at an affordable price is a major challenge facing coffee exporters in India today. India, like other coffee exporting countries, uses the conventional jute bags for exporting green coffee. However, when it comes to exporting roast and ground coffee, the material used for packaging plays a major role. As of now, India’s roast and ground coffee exports in the retail form are very small in volume at 200 tonnes, whereas the country’s total green coffee exports are about 180,000 tonnes.
After the near-flat growth in the first two quarters quarters, the third-quarter earnings of the 30 Sensex companies are expected to increase by 20 per cent, indicate analysts from Angel Broking, IDFC-SSKI and Motilal Oswal.
Jagdish Bhagwati / New Delhi January 08, 2010, 0:56 IST
Country’s biggest steel producer, Tata Steel, reported a consolidated quarterly net loss owing to lower demand and weak performance of its European unit Corus.
Seeking immediate release of Rs 137 crore under NREGA for the state, Orissa government today asked the Centre to include all disadvantaged groups like HIV positive people in the proposed census for BPL, official sources said.
Domestic passenger car sales jumped by 40.27 per cent to 1,15,268 units in December last year.
- Oil imports rise first time in over a year - 2010 set to be year of indices trading - Crisil to research illiquid stocks to help investors - "Indian regulatory regime has brought us a world of good" - Global crisis pinches FDI purse in 2009 - Experts debate rollback of lenient policy
Lanco group, through its newly formed special purpose vehicle Lanco Solar is planning to invest close to Rs 4,000 crore for setting up solar projects in the state.
Digital imaging firm Canon today said it targets a 10 per cent market share in the security surveillance camera segment by December 2010.
The Prime Ministers" Office (PMO) has convened a meeting with the Telecom Ministry on January 6 to discuss the issues plaguing the state-run telco Bharat Sanchar Nigam (BSNL), including its declining revenues and market share.
Subir Roy / New Delhi January 8, 2010, 0:42 IST
Leading steel maker JSW Steel today cut prices of its products by up to Rs 1,400 a tonne, mainly due to the softening global trend.
IT consulting firm KPIT Cummins today said it will increase its focus on the Chinese market and plans to tie-up with more automobile companies and components makers for providing software solutions.
Tata Steel would start work on its Kalinganar plant in Orissa from December. The company had 3,200 acres in possession but could not start work as 20 per cent of the project-affected persons were yet to be relocated, according to Managing Director H M Nerurkar.
Since the foreign partner isn’t buying equity in JSW Steel, there’s no reason for a re-rating.
With the availability of the 3G spectrum, about 275 million Indian subscribers will use 3G-enabled services, and the number of 3G-enabled handsets will reach close to 395 million by 2013-end, estimates the latest report by Evalueserve, a provider of knowledge process outsourcing (KPO) services.
The Indian School of Business (ISB) is creating a capital network to provide seed money to prospective entrepreneurs. The institute will also help entrepreneurs in refining their ideas and business plans.
Iran today reiterated it has no plans to build nuclear weapons, after US Secretary of State Hillary Clinton warned Tehran that any pursuit of atomic arms was futile.
Even as media is rife with reports of an economic upturn, the outlook for employment doesn’t seem to reflect the same enthusiasm. The recovery, if any, seems to be happening in fits and starts. The situation is reflected in the Employment Outlook Index for quarter — XII (October-December 2009) which stands at 46 index points, the same as previous quarter.
Megnasolace City Pvt Ltd, a special purpose vehicle (SPV) set up for the Mumbai IT/ITeS SEZ project coming up at Thane, is looking at raising up to $216 million (Rs 999.45 crore) for funding expansion through the private equity route.
Finance Minister Pranab Mukherjee today announced the launch of the National Skill Development Corporation (NSDC) that aims at training about 500 million people by 2022 to meet the growing demand for skilled workforce in the country.
The Drug Controller General of India (DCGI) has issued a show-cause notice to GlaxoSmithKline Pharmaceuticals (GSK) for launching an advertisement campaign in the national media on cervical cancer vaccine Cervarix.
Shikha Sharma
Union Bank is on a restructuring drive to become the country’s top nationalised bank.
The week-long political crisis that paralysed the BJP government in Karnataka blew over today following a compromise between the warring sides under which a coordination committee will be formed, a woman minister may be removed and the Speaker inducted into the Cabinet.
Minister for Environment and Forests Jairam Ramesh’s ambitious plan to redesign the institutions of environmental governance has come up against serious resistance from environmental experts who say the concept does not address fundamental problems. Most have given it the thumbs down.
Steel Minister Virbhadra Singh today said the proposals for diluting stake in two state-run companies SAIL and NMDC will soon be taken to the Cabinet for its approval.
The government has deferred a decision on a proposal by food and beverages major Pepsico to induct additional equity worth about Rs 930 crore in its Indian subsidiary. The proposal for induction of foreign equity (by Pepsico) has been deferred, an official statement said, without specifying reasons for the deferment.
Ten TDP MLAs today decided to resign in protest against the Centre"s decision that appeared to put the Telanagana issue on the backburner even as the main opposition party extended support to the two-day bandh called in the region.
Somik Raha / November 26, 2009, 0:38 IST
Power, tourism, transport, education, expressways and sugar on priority list.
China: For China, 2009 was a momentous year. The People"s Republic turned 60, and Beijing staved off economic disaster with an unprecedented 4 trillion yuan ($585 billion) stimulus package. The stage is set for an eventful 2010. If all goes well, China’s GDP is set to become the world"s second largest. But all may not go well.
Andhra Pradesh Chief Minister K Rosaiah today said that there was no time-frame for moving a resolution in the State Assembly on the Telangana issue.
Car market leader Maruti Suzuki India today reported 50.6 per cent jump in its sales in December last year at 84,804 units.
Pharma firm Lupin today said it will borrow up to Rs 500 crore from corporate bodies and various financial institutions.
Steel manufacturer, Uttam Galva Steels today said it has appointed Swarna Prabha Sukumar as a Nominee Director in place of S R Krishnaswamy with effect from September 22.
Mid-size steel maker Uttam Galva Steels said today it is not opposed to merger with the world"s largest steel producer ArcelorMittal and is open to all options aimed at taking the company to "new heights".
The European Commission today said it will initiate an anti-trust probe of as many as six pharmaceutical companies including Indian entities -- Lupin and Matrix Laboratories -- for restrictive business practices and abusing dominant market positions.
Even as legal experts refuse to buy government’s claim that 350 tonnes of waste is no source of pollution and factory premises pose no health risk to humans, a study is going on to incinerate the waste in some cement kiln. According to sources, a final report would come by end of this month or in January. If a well placed government source is to be believed, the Central Pollution Control Board and National Council for Cement and Building Material are in dialogues over the issue.
The Madras High Court today stayed a directive of the Drugs Controller General of India (DCGI) to stop state-level drug authorities from issuing export clearances for medicines.
The Madras High Court today ordered issuance of notice to Union Home Minister P Chidambaram on a petition from his AIADMK rival challenging his election from Sivaganga constituency in the May Lok Sabha elections.
Abdul Karim Telgi, the main accused in the multi-crore fake stamp paper scam, and two others were today awarded 10 years" rigorous imprisonment in two separate cases by a CBI Court which also imposed a fine of Rs 50 lakh on each of them.
Shares of Satyam Computer (now Mahindra Satyam) today plunged over 13 per cent on the Bombay Stock Exchange after the CBI said that the loss suffered by investors in the Satyam scam may stretch to a staggering Rs 14,000 crore, nearly double of what it was estimated to be earlier.