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Foreign institutional investors (FIIs) were net sellers of Rs 463.89 crore (provisional) today, according to data released by BSE.
Power Secretary H S Brahma today said the Ministry would soon approach the Finance Ministry for abolition of service tax on power transmission that could benefit end consumers by way of lower tariff.
Advertisements featuring Tiger Woods have disappeared from prime-time broadcast television and many cable channels following reports of his extramarital affairs, according to data from Nielsen Co.
Banks’ association says the process needs a huge effort.
Pantaloon Retail, the country"s largest retailer, today said it plans to raise as much as Rs 1,000 crore by selling shares to investors. The company board gave its approval for the fund raising plans today.
Domestic institutional investors (DIIs) were net sellers of Rs 875.92 crore (provisional) today, according to data released by BSE.
The government will sell its 8.38 per cent stake in NMDC by March 31, 2010, the Navratna mineral company said today.
Credit offtake remained subdued at 11 per cent during the one-year period ending December 18, indicating the economic activity is yet to fully pick up momentum.
The last date for sale and submission of request for qualification (RFQ) applications for the Rs 12, 132-crore Hyderabad Metro Rail project is extended till December 14, 2009, from the earlier November 27.
Indiabulls-MMTC promoted International Multi-Commodities Exchange is looking for another investor after the markets regulator FMC rejected the United Stock Exchange of India"s (USE"s) 10 per cent stake buy in the bourse, sources said.
Ashok K Lahiri / November 28, 2009, 0:02 IST
Industrialists say lack of policy guidelines affecting growth.
US national of Pakistan-origin David Coleman Headley was today charged in a court here with criminal conspiracy in the Mumbai terror attacks and having links with a retired Pakistani army Major who liaised between him and terror groups, including LeT and HuJI.
Suspected terrorist David Coleman Headley travelled to five cities during his stay in India between 2006-09, investigators have found.
FBI Press Communique / November 8, 2009, 0:07 IST
It is "too premature" to talk about the extradition of US national David Coleman Headly to India for his alleged role in Mumbai terror attacks, a top Obama Administration official has said.
Government today said that in the next four to six weeks, investigations into David Headley and Tahawwur Rana"s links with 26/11 attacks will be completed by the National Investigation Agency (NIA).
World"s largest drug maker Pfizer today said it is in the process of bringing in synergies in operation with Wyeth, which it acquired in January this year, and will launch one more product by the end of this fiscal.
A high level committee, constituted by Prime Minister Manmohan Singh on road projects, is believed to have recommended relaxing the controversial concessionaire"s agreement to make the projects attractive for investors.
Hinting at a buoyant economy in 2010, Uday Kotak, vice chairman and managing director, Kotak Mahindra Bank Ltd said that the total inflow of funds in India, comprising of insurance, FIIs and mutual funds may touch $ 40 billion.
Vadodara"s small scale engineering units can expect to get a boost from the upcoming Machtech 2010, an industrial exhibition that is expected to get over 250 small scale units to interact with the big guns in the business.
The Indian Industries Association (IIA), an apex body of SMEs, has joined hands with Germany-based Confederation of Skilled Crafts to work for a development project for micro, small and medium enterprises (MSME) in Uttar Pradesh.
Samajwadi Party (SP) leader Amar Singh has asked the Congress to explain its position on the issue of Anil Dhirubhai Ambani Group (ADAG)–initiated Dadri power project. It claimed there was a contradiction in the stand of Finance Minister Pranab Mukherjee and Congress General Secretary Digvijay Singh.
Indian IT companies will have to be content with the existing visa options for the United States as the US Congress, the country’s highest lawmaking body, is unlikely to take up the issue of immigration reform in the short-term.
Bhobhlal Dhruve, a member of aboriginal tribe Baiga community in Chada village (400 km from Bhopal), is eager to talk to his community on development issues. He and his fellow members of the community have formed ‘Apna Radio’, a community radio venture, and had applied for licence two years back.
The World Bank is expected to increase its lending to India by over three times to USD 7 billion in 2009-10 compared to the average $2.3 billion for the last four financial years.
Ashok K Lahiri / New Delhi November 30, 2009, 0:47 IST
Strides Arcolab announced a collaboration with Pfizer, USA on Thursday where Pfizer will commercialise the later"s off-patent sterile injectables and oral products in the US.
Ras Al Khaimah (RAK), which is a part of the United Arab Emirates (UAE), is in talks with Indian companies to set up a maritime city, according to its Free Trade Zone (FTZ) chief executive officer Oussama El Omari.
Pharma major Glenmark Pharmaceuticals is planning to repay its debt of around Rs 300 crore by end of this fiscal, a top company official said.
Health and skin care products maker Johnson & Johnson today announced the launch of its global beauty care brand "Neutrogena" in the domestic market with an aim to be one of the top five companies in India.
Indian drug companies have cornered an overwhelming majority of drug approvals under the US President"s Emergency Plan for AIDS Relief (Pepfar).
Strong non-core income growth pushes revenues.
Real estate firm Parsvnath Developers today reported a nearly three-fold growth in consolidated net profit at Rs 61.43 crore for the second quarter ended September 30, and said it expects the coming quarters to be more robust.
India"s financial technology firm Polaris Software Lab is planning to expand its footprint in the European markets beyond continental Europe and Sweden could be the base to cater to the large untapped region.
Aims to enter China, Russia and African countries
Long dismissed as a price warrior, Acer is repositioning itself as a brand for the youth.
Software companies continued to constitute the fastest growing firms in the Deloitte Technology Fast 50 India 2009 programme. This year, the composition of software companies amounted to as much as 80 per cent.
Take Solutions, an international business technology firm, today said it has entered into an agreement with South Korea-based IL-Yang Pharma Company Ltd for providing investigational new drug (IND) submission services to the company.
Hiring activity in Kolkata declined by 3 per cent in July compared to June this year, according to a Naukri JobSpeak, the monthly job index released by Naukri.com. The index moved from 775 in June to 750 in July. However, market sentiment remains positive with recruitment index expected to move up post September.
India Inc"s hiring activity picked up by 1.3 per cent in July with improvement in recruitment in IT, real estate and retail sectors, says a survey by job portal Naukri.Com.
Reflecting the changed ground realties in the US in the wake of economic crisis, there has been a sharp drop in H-1B work visas being applied for and obtained by major IT companies from India.
Gujarat Chief Minister Narendra Modi today held an all-party meeting to discuss an action plan for tackling deadly swine flu, which has already claimed two lives in the state.
Ruias-owned Essar Oil has tied up $920 million to fund the expansion of its Vadinar refinery in Gujarat to 16 million tonnes, CEO Naresh Nayyar said.
Gas Turbine Research Establishment is looking to develop a marine version of Kaveri engine, originally intended to power India"s indigenous fighter jet Tejas Light Combat Aircraft, in partnership with the Navy.
Even as the order inflow was healthy, analysts feel the company may fall a tad short of its new revenue growth guidance.
Andhra Pradesh government today said it had no objection to Congress MP L Rajagopal, who escaped from the Government Hospital here, being admitted to the Nizam"s Institute of Medical Sciences (NIMS) in Hyderabad as desired by him.
The High Level Clearance Authority (HLCA) chaired by the state chief minister Naveen Patnaik today cleared seven new projects worth Rs 67,445 crore.
Rahul Bajaj, Chairman, Bajaj Auto, says there are only demand-side problems for corporate India. The only supply-side problem is power. Excerpts:
The Potato Seed Welfare Association (PSWA) of small farmers has alleged that small-time potato growers are being harassed by the district administration, allegedly at the behest of big farmers, their godowns raided and some of the farmers even being arrested.
A new body seeks to integrate scattered R&D to meet the needs of a growing export and domestic market.
Renu Modi celebrates twenty years of life as a gallerist with an ambitious show, a glimpse of what lies ahead, and a wish to return to the hearth.
Due to an increase of over Rs 100 per quintal in the economic cost of foodgrains.
A government-appointed committee has suggested expanding the ambit of Clause 49 on listing of companies specified by market regulator SEBI to include cost audit report.
Cox & Kings Q3 net jumps 88% to Rs 19 cr
It wasn’t just ordinary passengers who suffered the brunt of the recent Air India strike. West Bengal Finance Minister Asim Dasgupta came to Delhi to attend a meeting on Goods and Service Tax (GST) with finance ministry officials. After which, he met Finance Minister Pranab Mukherjee. While Mukherjee’s office had kept an hour for the meeting, Dasgupta was in a hurry and spent just half the time since, with the Air India flight cancelled, he had no option but to leave on the earlier flight of a private airline.
S Kalyanasundaram, former managing director of GlaxoSmithKline Pharmaceuticals, will join Sun Pharmaceutical Industries, the country’s largest drug manufacturer in terms of market capitalisation, as one of its top three executives.
e-Learning firm Helix Technology Solutions today said it plans to invest Rs 300 crore in phases for research and development (R&D).
The stock finally settled at Rs 444, up 3% from the previous close. The counter clocked volumes of 1.05 million shares as compared to the two-week daily average traded volumes of 278,255 shares on the BSE.
The Indian Space Research Organisation (Isro) is working on using space applications to improve rural health infrastructure through telemedicine. Already 55 super specialty hospitals and 350 nursing homes have been connected and more will be added shortly, said Isro chairman K Radha Krishna.
The US has allowed the Indian Space Research Organisation (Isro) to launch Algerian satellites having American components using an Indian launch vehicle, following a Technical Safeguards Agreement (TSA) between the two countries.
The industry of the North East is euphoric with Bangladesh government agreeing to grant access to Mongla and Chittagong ports for movement of goods to and from India.
Oil & Natural Gas Corporation (ONGC) posted an increase of 23.38 per cent in net profit at Rs 3,053.58 crore for the quarter ended December 31, 2009, as compared to Rs 2,474.81 crore in the corresponding quarter last year. The state-owned company reported the highest net profit growth in the last six quarters.
The scientific instruments manufacturers’ cluster in Ambala (200 km north of Delhi on NH 1), which includes over 1,000 units, is upbeat, as the Union Ministry of Micro, Small and Medium Enterprises plans to organise the first exposition on scientific instruments to promote the cause of smaller units engaged in this business.
The government today said all state-owned companies under the Department of Heavy Industry should go in for energy audits to help cut costs and reduce pollution.
Jitendra Gupta / Mumbai January 21, 2010, 0:27 IST
Vandana / Mumbai January 27, 2010, 2:06 IST
Chandrayaan-II moon mission, which will help in analysis of mineral composition and undertake terrain mapping of the moon, will be completed by 2012-13, Project Director of Chandrayaan Dr M Annadurai said today.
National Thermal Power Corporation (NTPC) today reported a growth of 5 per cent in net profit at Rs 2,364.9 crore for the third quarter ended December 31, 2009, over the same period last year.
FMCG major Marico Ltd today said its net profit increased by 22.2 per cent to Rs 62.19 crore for the third quarter ended December 31, 2009.
Public sector lender Oriental Bank of Commerce today reported a growth of 14.76 per cent in net profit at Rs 289.43 crore for the quarter ended December 31, 2009, over the same period last year.
Ahead of the Reserve Bank of India’s credit policy review amid surging inflation, leading private bank ICICI Bank today foresaw no immediate increase in interest rates.
The year 2009 ended on a high note, with benchmark (BSE & NSE) indices registering best yearly gains in the last two decades and touching fresh 19-month peaks. The year, however, will be most remembered for the Sensex and the Nifty hitting the upper circuit for the first time.
Life for Reserve Bank of India (RBI) governors can be tough. Being the government’s money manager is hectic enough, but what have added to their “permanent state of busy-ness” (as an RBI observer says) are quarterly statements, the latest of which will be announced tomorrow.
As much as 70 per cent of companies surveyed by the industry body Assocham prefer to work with NGOs to implement their corporate social responsibility (CSR) initiatives.
Avionic expert Dr K Radhakrishnan, director of Vikram Sarabhai Space Centre (VSSC), has been appointed as Chairman of Indian Space Research Organisation (Isro), VSSC sources said.
Realty firm Parsvnath Developers today reported a robust jump of over fourfold in consolidated net profit at Rs 24.90 crore for third quarter ended December.
Textile company S Kumars Nationwide today said its net profit stood at Rs 60.09 crore for the year ended March 31, 2009, while it had a net profit of Rs 178.13 crore in the same period previous fiscal.
The row over handing over a portion of a 11-acre plot in one of the prime locations of the city to real estate major Unitech for development has deepened with the Orissa High Court restraining the government to take any decision on the matter.
Many entrepreneurs wanting to sell a stake have unrealistic valuations of their companies. This is a major block for private equity (PE) players to close a deal. Also, many do not have a second plan if talks fall apart, according to speakers at the Private Equity Conference at the Indian School of Business.
The US markets ended in the negative. The Dow Jones closed at 10,120, weaker by 115 points or 1.1%, Nasdaq ended at 2179, lower by 42 points or 1.9% and the S&P shut at 1084, down 12 points or 1.1%.
Rating agency Crisil today said that Glenmark Pharmaceuticals" rising debts have strained its financial health and downgraded the working capital loan and cash credit ratings of the drug maker.
In the wake of attacks on Indians in Australia, Shiv Sena chief Bal Thackeray today said his party would not allow the Down Under team to play cricket in Maharashtra.
Contract for a year; players will play just for Season-3.
Sun Pharma, backed by minority shareholders of Israel’s Taro Pharmaceuticals, has succeeded in preventing Taro’s founder family led by Barrie Levitt from appointing independent directors of their choice to the Taro Board.
Aabhas Sharma / New Delhi December 5, 2009, 0:47 IST
What you need to flaunt this season are touchscreen phones that are smart and sassy.
Bikram Dasgupta, chairman and CEO, Globsyn Technologies, traces his love for gadgets back to 1995, when he bought a Nokia 1011, loaded with games and polyphonic ringtones. Little did Dasgupta know that within 14 years, his so-called premium model phone would pale against his Mercedes E Class and custom-fitted laptops.
A peak into gizmos you can safely invest in and carry over to the next year without feeling the itch to upgrade.
Indian stocks trading on American bourses lost $3.85 billion (around Rs 18,000 crore) from their total market valuation last week, with HDFC Bank and Sterlite Industries leading the pack.
In the midst of a continuing legal battle over gas dispute between two Ambani groups, foreign investors seem to have got more confidence than the small individual investors of the country in the strength of the businesses run by the two industrialist brothers.
A fire-breathing Merc takes on the Audi. Who wins?
State Bank of India (SBI) Chairman O P Bhatt today said that excess liquidity available with the bank would be a matter of concern for the next two quarters.
The Asian markets are trading weak.
About 40 per cent of people who have died of swine flu or fallen seriously ill were young and otherwise healthy, an expert from the World Health Organisation told a conference in Vienna today.
Kerala has emerged as the number one market for exterior emulsion paint companies like Asian Paints, Nerolac, Dulux and Jotun.
Looking at India as a high-beta subset of global equity markets.
The Sensex dropped to a low of 16,537. The index has recovered now and is down 179 poinst at 16,537.
Markets have dropped again. The Sensex is now down 213 points at 16,567. The Nifty is down 75 points at 4,933.
The US markets ended on a negative note on Friday.
Raymond extended gains to touch a high of Rs 207 - up 6%. However, it could not hold on to gains and ended flat at Rs 197. Over 125,500 shares changed hands at the counter today.
Drug firm Zydus Cadila today said it has acquired the remaining 30 per cent stake in its South Africa-based subsidiary Simayla for an undisclosed amount.
Despite many hiccups, the next decade should be a good one for stock investors
India witnessed only one air accident -- the helicopter crash that claimed the lives of Andhra Pradesh Chief Minister Y S Rajasekhar Reddy and four others -- this year, a period that saw airlines improve their safety record, says IATA.
Shree Cements Limited has recorded a 13.81 per cent growth in despatches during September. It has despatched 6,80,170 tonnes last month as against 5,97,650 tonnes during the corresponding period last year. Its total cumulative despatch for the first half of the current fiscal (April – September) stands at 45,01,800 metric tonnes, which is 28.99 per cent higher than the corresponding period of the last last financial year.
But opinion remains divided on extent and duration of the hike.
Sun Pharmaceutical Industries today said it has got the approval for its Abbreviated New Drug Application (ANDA) for the generic version of Quinapril Hydrochloride tablets used in the treatment of hypertension and congested heart failure.
The markets have opened in the positive, mirroring the gains in the US and firmness across Aia. The Sensex is quoting at 17589, higher by 103 points and the Nifty is at 5254, up 29 points.
The Indian markets continue to languish in the red and the Sensex is now at 17, 592, down 50 points. The NSE Nifty is at 5,258, down 16 points.
Oil eased in Asian trade today as traders continued to evaluate the pace of recovery in the US economy, the world"s biggest energy user, analysts said.
Jaiprakash Associates Ltd has commissioned a cement grinding and blending plant at Bagheri in Solan district of Himachal Pradesh.
The bankruptcies of leading American car makers Chrysler and General Motors coupled with depreciation of the rupee could adversely impact the prospects of the Indian auto suppliers, says a report.
Abu Dhabi could well be the major draw in Asia for its focus on promoting art and culture.
The Ruias’ Essar Group is to acquire a 51 per cent stake in the telecom operations of the Dhabi Group, an investment company led by Abu Dhabi’s royal family, in Uganda and Congo for around $150 million (Rs 692 crore).
US consul general Cornelis M Keur on Friday met health minister D Nagender and offered to work together in dealing with H1N1 cases through the Centre for Disease Control (CDC), a US government body working in the state with the Andhra Pradesh State AIDs Control Society.
Differences over number of private players to be allowed to offer 3G mobile services continue within the government as an empowered ministers" panel today failed to reach at any consensus.
World"s largest steelmaker ArcelorMittal has asked the Orissa government to treat its proposed Rs 50,000-crore project on the issue of mining lease at par with other big ticket investments.
Buffett: Kraft Foods and Cadbury may have agreed on the takeover of the UK chocolatier by the U.S. food conglomerate. But leading investors in both firms are still at loggerheads over the acquired company"s value.
The Union coal ministry and National Thermal Power Corporation (NTPC) have proposed to set up one power plant each near Kanpur.
Environment and Forests minister Jairam Ramesh will start public consultations from January 13 in seven different cities in India before deciding whether to give the final nod to commercialisation of genetically modified (Bt) brinjal.
Shree Ashtavinayak ended at Rs 84, lower by Rs 1 or 1.3%, on the BSE.
Billionaire Gautam Thapar plans to buy companies to expand India’s third-largest equipment maker and add capacity in the nation’s biggest paper maker as demand in the world’s fastest growing major economy after China surges.
With a view to spread the reach of banking, bankers will meet telecom industry and government officials here next week to explore the marriage of mobile phone technology with the proposed citizen identification project.
Shree Ashtavinayak Cine Vision, the film production company, plans to invest Rs 457 crore to expand its movie entertainment business.
IPO guidelines next month; derivatives products on cards.
President Barack Obama will today propose new limits on the size of US banks after spending billions of tax-payer dollars to bail out "to-big-to-fail" firms, a senior official said.
LIC Housing Finance has posted a rise of 14.32 per cent in its net profit after tax at Rs 153.57 crore for the quarter ended December, 2009 compared with Rs 134.33 crore in the corresponding previous quarter. Its net sales during the period stood at Rs 833.61 crore against Rs 734.33 crore last year, up 13.52 per cent.
GMR Hyderabad International Airport Limited (GHIAL) and the Geneva-based Airports Council International (ACI) today signed an agreement for appointment of GMR Aviation Academy as a global training hub for the Asia-Pacific region.
The global slowdown has delayed the breakeven of Rajiv Gandhi International Airport at Hyderabad, operated by GMR Hyderabad International Airport Ltd (GHIAL).
The Sensex finally ended (provisional) with a gain of 48 points at 17,147. The Nifty was up 17 points at 5,129.
Market regulator the Securities and Exchange Board of India (Sebi) today confirmed its earlier order barring proprietors and directors of 75 companies from trading in stock markets for allegedly helping Pyramid Saimira Theatre Promoter Nirmal Kotecha carry out suspicious banking transactions.
Foreign institutional investors (FIIs) were net sellers of Rs 362.76 crore (provisional) today, according to data released by BSE.
The devolvement of rights issues of Tata Motors and Hindalco in 2008 seems to be a distant memory. A large number of promoters are now taking the cost-efficient rights issue route to shore up stakes in their companies and raise cash.
AIM-listed integrated studio operator Eros International plc is planning to list its wholly-owned Indian subsidiary on the Bombay Stock Exchange in the current financial year.
Advance tax payments by several automobile, power, cement and banking majors in the third quarter have been stronger compared to the year-ago pay-outs.
Industry says consultations not conducted.
State-run NTPC will not suffer Rs 30,000 crore loss if it was to get natural gas at prices higher than those committed by Reliance Industries five years ago, Power Ministry has told Parliament.
Money transfer firm Western Union Financial Services plans to tie up with e-governance service providers and microfinance institutions to expand its reach in India.
The foreign institutional investors (FIIs) were net sellers of Rs 272.90 crore in futures and options segments on Wednesday.
The combined cash and futures market turnover today touched a record high of over Rs 1.52 lakh crore at the end of trade, soaring by 19 per cent over the previous session even as Sensex fell below the 17,000-level.
Latha Jishnu / New Delhi January 21, 2010, 0:28 IST
Pharmaceutical patents are just over a fourth of all patents granted in the country, but domestic drug makers account for almost all post-grant patent opposition filed, official data reveals.
Auto components maker Jay Bharat Maruti today reported an over five-fold jump in net profit at Rs 5.41 crore for the third quarter.
United Auto Workers (UAW) President Ron Gettelfinger plans to anoint Bob King, head of negotiations with Ford Motor Co, to be the shrinking union’s next president, on December 16, said two people familiar with the matter.
Six days of meetings over two weeks between Tata Motors’ Jaguar Land Rover (JLR) and its workers’ union ended without agreement on terms of employment for new hires.
Indian conglomerate Tata group-owned Jaguar Land Rover (JLR) has appointed David Betteley as director for financial services.
Tata Motor’s future profitability hinges on its ability to scale up JLR volumes and execute a slew of cost-reduction measures.
Japanese auto maker Nissan, which plans to launch its global small car in the Indian market next year, will start the first trial production of the product from its Chennai plant in November.
General Motors India unveiled the all new Chevrolet Cruze diesel model in Chandigarh. The car will be available in two variants - LT & LTZ. With the launch of this model, it expects that by the end of this year, it would be able to achieve a growth of 11-12 per cent over the previous year.
The usually choc-a-bloc bus parking lot at Makuhari Messe was deserted. There were no car company hoardings on the way to the Tokyo Motor Show venue either. Inside, the show was restricted to just three halls. There were no go-go girls in skimpy costumes dancing to loud techno beats. Missing in action were Ferrari and Lamborghini. No Jaguar or Aston Martin, either. Not even Volkswagen. The space normally occupied by the American giants was filled in with paintings by children – on an automotive theme, mind you.
After announcing partnerships with three of India’s top auto makers — Bajaj Auto, Mahindra & Mahindra and Ashok Leyland — Carlos Ghosn, head of Renault and Nissan, today said he was keen on continuing with just one of them.
Delhi-based auto component player Amtek Auto announced today that the company has raised an additional $75 million (Rs 360 crore) through 5.625 per cent Foreign Currency Convertible Bonds (FCCB).
Five companies including Hero Honda have evinced interest in investing in Karnataka. In the run up to the forthcoming lobal investors’ meet in June this year, the state industries department has been inviting companies from industry segments to the state.
The country"s largest carmaker Maruti Suzuki India (MSI) today said its flagship export model, A-Star, has crossed 1 lakh-mark of overseas shipments in less than a year of selling the car in the global markets.
Barter and exchange services provider BBX India is awaiting Reserve Bank of India"s (RBI) approval to start international trading in the country, a top company official said.
The promoters of large and mid-cap companies plan to sub-divide company"s share face value following a sharp rise in stock prices in the last one year.
The Foreign Institutional Investors (FIIs) were net sellers of Rs 749.25 crore in futures and options segments on Wednesday.
Foreign institutional investors (FIIs) were net sellers of Rs 285.84 crore (provisional) today, according to data released by BSE.
Hypermarket Trent will hire over 4,000 people at its Star Bazaar stores over the next 14 months, a top company official today said.
HDFC Bank, India"s second largest private sector bank today reported a surge of 32 per cent in net profit at Rs 818.50 crore during the third quarter ended December 31, 2009.
Tata Group firm Rallis India today reported a 55 per cent rise in net profit at Rs 24.06 crore for the quarter ended December 31.
The volume of merger and acquisition (M&A) deals by India Inc slumped by 41 per cent to $3.3 billion in the June quarter over the previous three-month period due to the impact of the global economic slowdown, a report by consultancy firm Ernst & Young has said.
The International Monetary Fund (IMF) today announced to co-host a high-level international conference along with South Korea on Asia in Seoul later this year.
An expected recovery in the bank credit in the next few months may push up interest rates in the later part of the current fiscal, a top foreign banker today said.
Expressing confidence that the country will return to 9-10 per cent economic growth within a couple of years, Prime Minister Manmohan Singh today invited the Indian diaspora to participate in the development of the country of their origin.
Google/cybersecurity: Google’s cyber-complaint is the tip of an iceberg. Coordinated attacks on IT systems are common, yet companies and governments have kept largely silent. The growth of computer services that rely heavily on the Internet means the stakes are growing higher. That may explain why Google spoke up about recent attempts to steal its intellectual property -- and why the U.S. State Department has also taken China to task.
Japanese auto major Nissan Motor would roll out its compact car from the Oragadam facility near here from May 2010.
K Subrahmanyam / January 21, 2010, 0:30 IST
The Airports Authority of India (AAI) expects its annual earnings to grow by Rs 100 crore once it receives approval from the Ministry of Civil Aviation to charge user development fee (UDF) at nine airports. “We will annually earn around Rs 100 crore by charging UDF at eight of our airports. We have sent our request and will start charging as soon as we receive the approval,” said a senior AAI official who did not wish to be named.
The government should “revisit” its Special Economic Zone (SEZ) Act “comprehensively” and put a ban on transfer of common property and agricultural land for its implementation, a high-level panel has recommended in its report.
The Finance Ministry today said it expects an action plan to be ready by March this year for disinvestment in more public sector companies.
NTPC has selected TRF Ltd, a Tata group company, for setting up coal handling plants for its super thermal power plants at Barh, Bihar and Mauda, Maharashtra. The combined value of the two orders is Rs 611.62 crore. The company has been given the order for setting up coal handling plants on turnkey basis for the 2X660 MW power plant at Barh and 2X500 MW power plant at Mauda. The coal handling plants will be designed to run at a capacity of 2420 and 1760 tonnes per hour, respectively.
Karnataka Chief Minister B S Yeddyurappa, who is facing fresh bout of dissidence from his party legislators demanding ouster of recently inducted minister M P Renukacharya, today held talks with a four-member dissident group to defuse the crisis.
As corporate India expands globally, it must communicate diplomatically. Excellent communication is the key to effective corporate public affairs and global diplomacy. Without a comprehensive communications strategy that embraces all important stakeholders, those who interact with the company and form its business environment, global corporate diplomacy cannot be effective.
State-run Coal India (CIL) today said the government may divest only 10 per cent stake in the PSU in the next fiscal, against the desired 15 per cent, as regulatory provisions bars it from reserving some shares for employees.
The Department of Telecommunications (DoT) seems to be in a state of confusion on deciding the number of slots of 3G spectrum to be auctioned. It is now in favour of auctioning only two blocks and immediately assigning the spectrum to the successful winners.
Kiran and Shiv Nadar will throw open their collection of art this evening at the HCL Technologies campus in Noida. Kishore Singh gets a preview before the formal opening of this private art museum, the first of its kind
The hot gossip that’s warming up New Delhi’s cocktail circuit in a cold winter is about changing power equations on Raisina Hill with the exit of National Security Advisor MK Narayanan. Not only is Home Minister P Chidambaram seen as a “rising star”, there’s talk of a new “power trio” — Sonia Gandhi’s political advisor Ahmed Patel, Pranab Mukherjee’s assistant Omita Paul and prime minister’s principal secretary TKA Nair — in that order of importance!
Continuing with the growth trajectory, Indian Railways have registered an increase of about 9 per cent in its revenue earnings.
Tata Communications has signed an agreement with the Qatar-based Qtel for a new undersea cable network that will connect a number of regional operators in the Gulf region with the country.
Finance Minister Pranab Mukherjee has asked Communications Minister Andimuthu Raja to complete the auction of the third generation (3G) spectrum within the agreed deadline (February 15), so that the revenue from it can be reflected in the Union Budget for 2009-10. Mukherjee had earmarked Rs 30,000 crore as revenue from 3G auction, which has already been delayed by a year, in the Budget.
RCom’s tower arm to dilute 4-5% in pre-IPO placement.
Bharti Airtel is not looking at acquiring US telecom carrier Sprint, but would continue to focus on emerging markets where it sees huge potential for penetration, Group CEO Manoj Kohli said today.
Business Standard / New Delhi December 30, 2009, 0:55 IST
The Bharti group, which has just acquired a majority stake in the Bangladeshi mobile operator Warid Telecom, is on the lookout to acquire government-owned telcos in developing countries like Africa which are up for divestment.
The Supreme Court (SC) has set aside the order of the Orissa high court appointing an arbitrator in the dispute between BSNL and a works contractor. According to the terms of the contract, if a dispute arose, the chief engineer, telecommunications, was to be the sole arbitrator. The contractor, Dhanurdhar, repeatedly asked the authorities to appoint an arbitrator, but they did not. Therefore, he moved the high court. It appointed an arbitrator other than the Chief Engineer or his nominee. BSNL therefore appealed to the Supreme Court arguing that the appointment of a person other than the Chief Engineer was against the arbitration clause. The Supreme Court accepted the BSNL contention.
FXLabs Studios, a city-based developer of game products for PCs and video game consoles, has received the 24 FPS animation award for the best game design by Maya Academy of Advanced Cinematics (MAAC) for its game based on Bollywood movie ‘Ghajini’. MAAC is the academic wing of US-based 3D animation and visual effects house Maya Entertainment, a press release said on Wednesday.
The state-run telco BSNL has informed the DoT that it may miss even the March 31 deadline for implementing the mobile number portability (MNP) regime if it does not get the security clearance for importing the needed equipment at the earliest.
Conglomerate Videocon, which has forayed into mobile handset space, has said that it plans to achieve a pan-Indian presence by end of February and roll out 15 more models of handsets in two months.
Telecom regulator TRAI, which is doubling as broadcasting regulator too, has informed the Supreme Court that it would complete fixing tariffs for cable and TV operators in areas not having conditional access system by May 30, an official said.
The per second billing introduced by telecom companies has come as a boon to millions of mobile users in the country, but it is proving to be a bane for cellular service providers as it is affecting their revenues, feel industry experts.
Australia’s Deputy Prime Minister Julia Gillard has said the country is committed to the education revolution involving international students.
Vedanta Resource group firm Sesa Goa today said that it will spend about Rs 1,500 crore in its mining business during the next two years to reach the annual production capacity of about 50 million tonnes.
Geometric’s net profit for the third quarter ended December 31, 2009, grew almost nine times to touch Rs 16.2 crore from Rs 1.76 crore in the corresponding quarter last year.
Hit by international student attack crisis, Australia has experienced a huge decline by 46 per cent of Indians applying for student visas in the country last year, country"s Immigration Department has said.
An Indian youth was today stabbed in Australia, in the first case of casualty in a series of vicious attacks on the community members, prompting a strong reaction from India which said such incidents could have a "bearing" on bilateral ties.
Reliance Power today reported a 26.46 per cent increase in its net profit at Rs 133.64 crore for the third quarter ended December 31, 2009.