International Business
Former Maharashtra Pradesh Congress Committee (MPCC) president Ranjeet Deshmukh has urged the newly elected Congress Legislative Party (CLP) leader and incumbent Chief Minister Ashok Chavan to give the post of deputy chief minister to an MLA from Vidarbha region.
Vallee de Vin, maker of the premium Zampa brand of wines, is looking at investing upto Rs 35 crore on expansion as well as verticalisation by offering a range of services centred around the core business of wine manufacturing. Ravi Jain, chief executive officer of the Sanjegaon, Nashik-based vineyard, said that the company has a horizon of upto three years to raise the amount.
With prices of essential commodities going through the roof, public distribution shops (PDS) in Kerala are back in action.
Delay in rainfall is likely to impact crop size and farmers may shift to short-cycle crops like cotton and castor seeds, an industry official said.
India"s handicraft exports increased by a whopping 177 per cent in September, raising hopes of a turnaround in the country"s overseas trade that has been battling global recession for the last 11 months.
The severe power crisis in Punjab is likely to continue as the state electricity board says it has no money to buy additional power at a high rate from private generators.
Cash management solutions provider Fundtech India Ltd is entering the European banking sector with its product Global CashPlus. The Pune-based company has already signed deals with 12 Asian banks and a European bank for its product and plans to have 18 to 20 international banks under its belt by March 2010.
The IT industry is exiting its worst year ever as global IT spending is all set to decline 5.2 per cent, according to Gartner, Inc, an information technology research and advisory company. However, the IT industry will return to growth in 2010 with IT spending forecast to total $3.3 trillion, a 3.3 per cent increase from 2009.
With the global economy gradually bouncing back, the IT job market is also picking up and around 2-2.5-lakh jobs in the sector are likely to be up for grabs, a top Infosys official said today.
Global FMCG major Procter & Gamble will be bullish on winning consumers in emerging markets of India and China as it eyes increased sales in the two strong economies, its new chief said today.
The International Air Transport Association (IATA), a trade body representing some 230 airlines worldwide today named Cathay Pacific Airways CEO Tony Tyler as the Chairman of its Board of Governors.
Company says it does not believe in reducing investments during the downturn.
Chief minister, K Rosaiah, has approved allotment of 80 acres of land at Aganampudi village in Visakhapatnam district for the Tata Memorial Centre (TMC) where it proposes to set up its second campus.
Apparel chain Koutons Retail India today said its net profit rose by 18.63 per cent to Rs 15.79 crore in the third quarter ended December 31, 2009 over the same period last fiscal.
After making three futile attempts to sell the controversial Crystal IT park, the only IT-specific SEZ in Madhya Pradesh, the state government has again invited tenders for a co-developer.
Mining giant Grupo Mexico today said it regained control over bankrupt copper miner Asarco after winning a year-long legal battle with Vedanta group firm Sterlite Industries for acquiring the ailing company.
While govt banks are offering lower rates, private lenders are dangling higher loan-to-value proposition.
Industrialist Rahul Bajaj today said the government should adopt a carrot and stick policy to bring back Indian money stashed in Swiss banks and suggested that identities of account holders should be protected.
Breaking a long dry spell, Uttarakhand and its nearby areas today received rainfall in the plains and snow in the higher reaches of the Himalayas. Experts said the rains, which came after a dry spell of two months, would auger well for the agriculture sector. Anand Sharma, director the metereological department, said light rains had occurred in areas like Tehri, Mukteshwar and Dehra Dun. “The trend may continue for one more day at least in the Kumaon region,” he said.
The Indian economy is expected to bottom out towards end of the calender year, led by recovery in private investments and exports, a report has said.
Vedanta Resources Chairman Anil Agarwal today said the company would bid for Ultra Mega Power Projects (UMPPs) and coal blocks as and when the government puts these on auction and added it has plans of Rs 70,000 crore till 2011-12.
India today sought speedy negotiations of reprocessing arrangements, as well as liberalisation of the export licensing procedures, to move forward the Indo-US civilian nuclear deal.
A day after Indian Prime Minister Manmohan Singh and Chinese Premier Wen Jiabao smoked the peace pipe, New Delhi today said it was in discussion with Beijing for a free trade agreement aimed at breaking the duty barriers for bilateral trade.
Congress MP Lagadapati Rajagopal, who did a vanishing act from Vijayawada Government Hospital on Sunday night, arrived at Nizam"s Institute of Medical Sciences (NIMS) here on Monday, putting an end to a 15- hour suspense over his whereabouts.
The Indian rupee appreciated by 28 paise to 46.46 a dollar in early trade today as the US currency weakened against other Asian currencies.
Dancer Prathibha Prahlad bridges worlds, and makes us a lasagna.
Intensifying its probe into the helicopter crash, which claimed the lives of Andhra Pradesh Chief Minister Y S Rajashekhar Reddy, the Directorate General of Civil Aviation team today collected the debris of the chopper and will visit the crash site tomorrow.
The manufacturer of Bell helicopters has offered its assistance to Indian authorities in probing into the crash of the Bell-430 chopper which claimed the lives of Andhra Pradesh Chief Minister Y S Rajashekhar Reddy and four others.
Some important tips for Ulip buyer.
Interest has revived in the equity market, and expectations too; remember the past mistakes.
Former US President Bill Clinton would be leading a trade delegation to Haiti in October, in his capacity as the UN Special Envoy for Haiti.
The anti-land acquisition leaders and the activists of various Jana Sangathans in Orissa have intensified their stir against the projects of Posco and Vedanta, the two big ticket investments in the state.
Even though the field trials are on for Indian Air Force’s medium multi-role combat aircraft (MMRCA) project, Northrop Grumman, the US based defence and electronic equipment supplier is keen to nurture its partnership with Bangalore-based Bharat Electronics Limited (BEL) and Dynamatic Technologies. Northrop Grumman manufactures the active electronically steered array (AESA) airborne radars which sit on the F-16 super viper aircraft of Lockheed Martin, which is competing for the Indian Air Force’s MMRCA programme.
Diversified conglomerate General Electric (GE) will pay a penalty of $50 million to the US market regulator Securities and Exchange Commission (SEC) as part of a settlement related to alleged accounting irregularities.
India"s quest to buy 126 medium multi-role combat aircraft (MMRCA) will shift gear when the flight trials of the six global contenders will begin in Bangalore next week with US major Boeing"s warplane F/A-18 being the first contender.
Eighteen months after Tata Motors took over beleaguered luxury brands, Jaguar and Land Rover, a strategy of cost-cutting and pushing sales have helped the UK labels to post an operating profit of £41 million (Rs 314.55 crore) during the reporting quarter ending 30 September 2009.
Ennore Port Limited (EPL) on Friday handed over Rs 4.15 crore as dividend to the Government of India and Rs 2.07 crore to the Chennai Port Trust, thus becoming the first port in the country to pay dividend to the Centre.
Power Minister Sushil Kumar Shinde today threatened action against companies that do not start work on captive mines within two years of allotment.
Though the Congress party had allocated Saifuddin Soz a seven-seater helicopter for campaigning in far-flung areas of Jammu & Kashmir, he chose to use road transport. It was only when someone pointed out that the idle chopper was also costing his party a lot that Soz decided to use it to go to Ladakh.
India imported 20 per cent more pulses during the April-October period this year at 1.59 million tonnes to bridge the demand-supply gap in the domestic market that has led to a sharp rise in prices.
Uncertainty looms large over the Rs 5,000-crore 1050 Mw thermal power project of KVK Nilachal Power (P) Ltd at Kandarei in Cuttack district with the Orissa High Court staying the construction work of the project.
The stock finally ended at Rs 141, down 2.5%. Over 1.18 shares were traded on the BSE today.
The rapid spread of swine flu has hit share prices of top airline and hospitality companies as market players fear a sharp drop in travel and tourism due to the flu scare. In contrast, shares of top pharmaceutical companies have seen a sharp rise during the period.
Personal computer (PC) sales in the country recorded a 7 per cent negative growth for the first time due to the economic slowdown during the last fiscal 2008-09.
In addition to the slowdown which is taking its toll on the economy, the IT industry faces multiple challenges, including a decline in sourcing spends, price reductions, competition from other countries and protectionism.
German luxury car maker BMW today launched BMW Gran Turismo, BMW X6M and BMW 760Li and plans to ramp up capacity of its manufacturing plant at Chennai.
German luxury car maker Mercedes today said it has lost leadership position in the premium segment in India to rival BMW and reported a decline of 10.43 per cent in sales in the country for the last year.
The pilot run for the Unique Identification Authority of India (UIDAI), headed by Nandan Nilekani, could cover nearly 60-70 per cent of citizens in Karnataka within a period of one year post commencement. Karnataka would be the first state to come under the UID project that seeks to issue a unique ID number for each citizen.
The Haryana Renewable Energy Development Agency (Hareda) has decided to set up three solar power projects of 225 Kw capacity in Gurgaon district under a scheme launched to motivate commercial/industrial establishments to use solar energy, which is environment-friendly.
Construction firm Unity Infraprojects today said its joint venture with IVRCL Infrastructure & Projects has bagged an order worth Rs 1,145.88 crore from Municipal Corporation of Mumbai.
Unity Infraprojects today said its shareholders have approved the raising of up to Rs 250 crore through the issue of securities to institutional buyers on a private placement basis.
T N Ninan / New Delhi July 25, 2009, 0:19 IST
Two Democrat Congressmen today appealed to their colleagues in the US Congress to oppose the Obama Administration"s proposal to fund $108 billion to the International Monetary Fund.
The Indian Broadcasting Foundation (IBF), the apex body of all broadcasters in the country, has urged the government to clear dues worth over Rs 55 crore for airing television commercials of various ministries and departments.
Anand Sharma, Union minister for commerce and industry, must have got used to people addressing him in various ways. But Minister of State for Railways E Ahmed stunned him last week when he was about to enter Parliament. Ahmed was talking to someone outside gate number 4 when Sharma stepped out of the car. “Hello commerce, hello commerce,” Ahmed called Sharma. Sharma acknowledged the joke and responded with a warm smile.
Haryana Chief Minister Bhupinder Singh Hooda would be the Guest of Honour in the Plenary-III Session of Pravasi Bhartiya Divas to be organised by the Ministry of Overseas Indian Affairs, Government of India, and the Confederation of Indian Industries at Vigyan Bhawan in New Delhi.
In a major setback to cash-strapped infrastructure company Maytas Properties, promoted by former Satyam Computer founder B Ramalinga Raju’s family, a local court has passed an order barring it from using land as collateral for loans.
I am 34 and employed in an IT company in Gurgaon. I began investing in June 2007, with a sum of Rs 2,500 a month. Gradually, I increased the SIP amount to Rs 16,500 a month. Can you help me with my financial plan? I have provided all the details below.
After easing for three weeks in a row, food inflation inched up to 17.40 per cent for the week ended January 16, a development that may prompt the Reserve Bank to hike key policy rates to tame the rising prices.
The stock surged to high of Rs 285 - up 7%. It finally ended with a gain of 5.5% at Rs 282. Around 1.05 million shares were traded on the BSE today.
In a strong message, India today asked the developed countries to modify their ‘unsustainable lifestyles’ to significantly cut down carbon emissions by 2020 and to ensure that developing nations had enough resources to cope with climate change while pursuing accelerated development.
Libyan leader Muammar al-Gaddafi has opposed the induction of big powers into the UN Security Council (UNSC), saying such a move would further tilt the balance of power.
Prioritising its various communication modules like films, Press Information Services, electronic media monitoring centre and visual publicity, a 34.4 per cent increase was today effected in the allocation for information and publicity wing of the Ministry for Information and Broadcasting in the Union Budget.
Corporate affairs minister also rules out private sector job quota.
Business Standard / New Delhi July 29, 2009, 0:38 IST
India has been successful in phasing out ozone depleting substances (ODS) like chlorofluorocarbons (CFCs) 17 months ahead of the targeted date, said Union Minister for Environment & Forests, Jairam Ramesh, while addressing a conference to observe International Ozone Day here today.
The Indraprastha Apollo Hospital in New Delhi has a surprise for its youngest "guests". Anoothi Vishal checks out a first-of-its-kind "recreation centre" set up by Sanofi Aventis there.
Disgraced former Haryana DGP SPS Rathore today moved the Punjab and Haryana High Court challenging a sessions court order denying him anticipatory bail in two fresh FIRs involving serious criminal charges against him in the Ruchika Girhotra molestation case.
Kiri Dyes and Chemicals today said it will raise up to Rs 150 crore through issue of securities in the domestic and international markets for expanding its business operations.
Trades between FIIs generated a volume of Rs 27 crore on the BSE Wednesday-an decrease of 51.95% from Rs 57 crore clocked on Tuesday. As many as four stocks witnessed trades of 4.65 lakh shares on Wednesday.
Government today renamed its flagship rural job guarantee programme - National Rural Employment Guarantee Act (NREGA) - after Mahatma Gandhi.
M J Antony / New Delhi October 7, 2009, 0:24 IST
Ranibai Rajaram Chhabria, mother of the late Manohar Rajaram Chhabria, has challenged the merger of Shaw Wallace with Vijay Mallya-promoted United Spirits, saying she was entitled to a fifth of her deceased son"s estate.
Riding on back of brisk sales in India and China, Korean car major Hyundai Motor Company today said its net profit for the year 2009 zoomed by 104.5 per cent at 29.615 trillion won (about Rs 1,18,950.16 crore) from the previous year.
Sunita Narain / New Delhi November 06, 2009, 0:24 IST
The country’s second-largest public sector lender, Punjab National Bank (PNB), is planning to seek Rs 3,000 crore from the proposed $3-billion (around Rs 15,000 crore) funding from the World Bank (WB) for recapitalisation of public sector banks in India.
State-owned infrastructure funding company IIFCL is planning to raise US$500 million (Rs 2,500 crore) through its UK-based subsidiary for financing import of capital goods for infrastructure development.
The government has set up a standing committee on infrastructure finance, which will be headed by Finance Secretary Ashok Chawla, according to a government official. The committee will comprise 11 members, including Planning Commission secretary, RBI deputy governor, Irda chairman, and IIFCL chairman.
Entertainment major Walt Disney Company will acquire Marvel Entertainment, the firm well known for comics of super heroes, for an estimated $4 billion in a cash and stock deal.
It’s painful to watch Tendulkar’s brilliant knocks go in vain.
Devika Banerji / New Delhi October 27, 2009, 0:37 IST
The Nifty closed in a Doji pattern on the last day of this month’s expiry today, indicating continuation of indecisiveness in the next series. Global cues are strong and hence the Nifty is likely to trade above 4,800 with strong support at 4,820.
A consummate Russian diplomat, Vyacheslav Trubnikov is returning home this week after having served as serving as Russia’s ambassador to India for nearly five years. The period has seen several highs and lows in the bilateral relationship, including the building of the first civil nuclear power plants by Russia and nagging problems over defence spares and equipment. Edited excerpts from an interview with Jyoti Malhotra
Soon after the clock strikes midnight, the muddy roads on the Indo-Bangla border, at Sahebkhali in Sunderbans, become busy with trains of cattle being herded on a secret journey culminating in Bangladesh where they will be slaughtered for shipment as processed beef.
Western studies rubbish the claim of drinking eight glasses of water, Ayurveda emphasises on its goodness
Bihar Chief Minister Nitish Kumar today accused the Congress of being "responsible" for the demolition of Babri Masjid in Ayodhya, saying the Liberhan Commission that probed the incident should have indicted the party and its leaders.
The third edition of the Indian Premier League, scheduled to begin in March, is under controversy after the Shiv Sena has opposed the participation of Australian cricketers in the domestic Twenty20 event, in the wake of ongoing attacks on Indian nationals Down Under.
Kirtika Suneja / October 23, 2009, 1:09 IST
Wireless telecom solutions company Clay Telecom today said it has begun offering international roaming service for Blackberry users.
At least the Shiney Ahuja rape case has taken some pressure off Mahendra Singh Dhoni’s shoulders, a friend says on Twitter, and he’s right: it takes something very special for the captain of a World Cup-losing cricket team to be only the second most vilified public figure in the country.
Reserve Bank Governor D Subbarao today said the ongoing global crisis has resulted in a massive breakdown of trust in the financial system and that the study of economics could lose its value base.
Commercial vehicle manufacturer Ashok Leyland’s associate company, Ashley Alteams India Pvt Ltd (AAIPL) will commence manufacturing high pressure die castings. The production of the castings, which will primarily be for the telecommunications and automotive sector, will begin next month at the company’s new facility in Chennai.
The Nasscom-McKinsey Perspective 2020 report notes that healthcare will emerge as a very big opportunity for outsourcing services. ANANDA MUKERJI, managing director and chief executive officer of Firstsource, feels his company is in the right place to make its mark in the global BPO business. The outsourced healthcare space represents an approximately $17-billion opportunity in the US alone. The industry is expected to grow at over 50 per cent CAGR (compounded annual growth rate) over the next five years. With healthcare contributing close to 40 per cent of its revenue, the sixth-largest BPO player’s early bet on the segment seems to be paying off. Mukerji spoke with SHIVANI SHINDE on how its healthcare acquisitions have panned out and the way forward. Excerpts:
Wall Street is jeering Yahoo! Inc Chief Executive Officer (CEO) Carol Bartz, for the deal she cut with Microsoft Corp last week. The blame is misplaced.
Anand Sankar / New Delhi September 8, 2009, 0:08 IST
The government is beginning a review of the administered interest rate structure for small savings schemes and plans to set up a committee headed by a former Reserve Bank of India (RBI) governor to suggest a roadmap for possible decontrol.
Most know private sector firms are a lot more efficient than public sector ones, but a little bit of perspective is required here. According to data from the latest budget documents, public sector firms, on average, pay around a fifth more effective tax rates in comparison to their private sector counterparts. So, while public sector companies paid an effective tax rate of 25.69 per cent in 2007-08, the figure was a lower 21.28 per cent for private sector firms. The average of 22.24 per cent for all firms, of course, was much lower than the statutory 33.99 per cent. The reason for this is the tax benefits claimed, obviously more by the private sector, particularly for export profits under the Software Technology Parks of India (STPI) scheme (Rs 11,734 crore) and accelerated depreciation (Rs 14,344 crore of taxes were foregone on this account).
The National Textile Corporation (NTC) has begun talks with the National Buildings Construction Corporation (NBCC) and others for sale of its surplus land in four cities that is expected to fetch the state-owned firm Rs 5,000 crore.
With no solution emerging in the legal battle between music companies and private FM radio operators over royalty rates, many of the 37 private FM radio companies have threatened to shut shop soon, restricting choices for over 200 million FM radio listeners to All India Radio channels.
- Bank stocks surge on hope of better profits - SBI upbeat on foreign growth, to scale up Singapore ops - Scarce lending by banks hitting tractor sales, complains sector - Unitech Wireless raises Rs 5,000 cr for network roll out - Advance tax collections shore up in Q2 - SAIL"s Bhilai Steel Plant bank account attached
Deficient rains in the agrarian interiors and lack of finance availability from lending institutions, despite a mammoth relief package announced by the Centre last year, is slated to hit tractor sales, the industry says.
Reliance Industries (RIL) , the country"s most valued company, today said the Bombay High Court has approved merger of group firm Reliance Petroleum (RPL) with the company.
State"s contribution had tanked below 20% from 42% in last two years.
Reliance Industries (RIL), India’s largest private sector company by market capitalisation, plans to offload a part of its treasury stock, held through the Petroleum Trust, which is controlled by the promoters.
In lacklustre trade last week, six out of top-10 companies added Rs 65,128.41 crore to their total market capitalisation (m-cap).
India’s foreign minister today advised its students to be “more discreet” in choosing educational institutes and courses of study in Australia, whose high commissioner admitted there was a drop in applications of Indian students following media coverage of attacks on them.
“Consumer wants can have bizarre, frivolous, or even immoral origins, and an admirable case can still be made for a society that seeks to satisfy them. But the case cannot stand if it is the process of satisfying wants that creates the wants.”
Daiwa Securities Group Inc, Japan’s second-largest brokerage, will buy out its partner Sumitomo Mitsui Financial Group Inc, ending their 10-year-old investment banking venture, two people familiar with the situation said.
The yellow metal could move in two diverging paths in the future, an independent global metals research consultancy firm said.
Japan Airlines Corp (JAL), restructuring under state supervision, is likely to tap financial institutions for around 170 billion yen in additional loans while considering cutting more than 1,000 jobs through an early retirement program after October, sources said.
The ripple effects of the fall of Lehman Brothers in September last year is evident in the field of global mergers and acquisitions (M&A), which have shrunk nearly 40 per cent since then.
The release of the much awaited Goods and Services Tax (GST) discussion paper by the Empowered Committee of State Finance Ministers is a welcome step forward in the reform of the indirect tax regime in India. However, the paper falls far short of expectations. The GST design the State Finance Ministers (SFCSs) have opted for is a compromise, which could prove to be neither good economics nor good politics.
The long-awaited meeting of the Empowered Committee of State Finance Ministers (EC) was recently held in Delhi and, as was perhaps expected, the EC has come out with a recommendation on what can legitimately be called a “Dual Rated Dual GST System”. There were expectations in certain quarters that the dual GST would be a single rated one at the Federal and the State level for both goods and services. This has not been possible and the EC has now come out with a dual rate model for goods. There has been no mention of whether there will be a dual rate for services as well but the understanding and expectation is that services will be taxed at just the one rate, at the Federal and State levels respectively. This article discusses the dual rate dual GST model for goods in some detail.
Using tax rebates to induce investment will favour sub-optimal projects that are not related to either local or global demand - it"ll take India back to the "80s.
The Madhya Pradesh government has said it would not adopt the goods and service tax (GST), made mandatory by the Centre for all states by 2010.
Former Chief Minister Vasundhara Raje today resigned as Leader of Opposition in Rajasthan Assembly after having defied the party high command for nearly three months.
Former BJP President M Venkaiah Naidu has said the party will not contest the next Lok Sabha elections under the leadership of L K Advani and agreed that it would be logical for the party to get a new leadership at that juncture.
The Rashtriya Swayamsevak Sangh (RSS) today obtained a commitment from the Bharatiya Janata Party’s (BJP’s) warring leaders that they would stop their infighting even as moves were initiated for a major overhaul of the party’s top brass, which will see the exit of Rajnath Singh as party president in the next three months and likely stepping down of L K Advani as leader of the Opposition in the Lok Sabha.
Intermediate correction may continue.
Prices of the sweetener may go up by 15-20 per cent.
Modernisation of SMEs will be the focus of discussion with the new govt
The initial public offer (IPO) of NHPC Ltd, the state-run hydropower producer, was subscribed 3.54 times what was on offer today, the opening day.
Stock market indices slipped On Thursday as investors rushed to book profit in select sectors such as auto and metals.
The two main indices—the Nifty and the Sensex—staged strong intraday rebound on Friday in choppy trades and extended gains for the second straight day. The Nifty bounced back from an intraday low of 4,766 to close at 4,882 on short-covering in interest rate-sensitive sectors such as auto, banks and realty.
Mysore became the first city in the country to have a bus stand modernised under the Jawaharlal Nehru National Urban Reconstruction Mission (JNNURM) today.
The Board for Industrial and Financial Reconstruction ruling in the case of INCAB has gone in favour of Tata Steel, a company release said.
Abheek Barua / New Delhi August 3, 2009, 0:35 IST
The appeals filed by Anil Ambani-led Reliance Power Ltd (RPL) on acquiring land for its proposed Dadri power project in Uttar Pradesh hit a roadblock in the Supreme Court today, as one of the judges had apparently heard the case when he was in the Allahabad High Court.
Markets extend losses in noon trades
Drug maker Zydus Cadila today said it has received approval from the Drug Controller General of India (DCGI) to conduct clinical trials for the swine flu (H1N1) vaccine.
Unhappy with the way the National Rural Health Mission has been implemented by states, Union Health Minister Ghulam Nabi Azad has said the flagship scheme was not going in the right direction and the state governments should equally "share the burden".
Contrary to my pessimistic mood at the year end, 2010 has been ushered in with good cheer by the announcement that all royalty payments-sectors, quantum, caps notwithstanding, will henceforth be covered by the automatic route, subject to the FEMA Current Account Transaction Rules, 2000.
WTO chief has confirmed his participation.
India’s current account deficit (CAD) for the second quarter ended September 2009 was almost flat at $12.6 billion, compared to $ 12.57 billion in the same quarter in 2008, on lower net invisible surplus.
Largest such issue in two years; equity dilution pulls down firm’s domestic stock 6 per cent
Sesa Goa’s acquisition of Dempo Group’s iron ore assets in Goa bears a stamp of Vedanta Resources Chairman Anil Agarwal’s signature strategy — buy low-value assets, pump investments into them and work to turn them into cash cows. Vedanta’s previous acquisitions of Hindustan Zinc, Balco, Konkola Copper Mines and the 2007 takeover of Sesa Goa have helped the company multiply the value of its metals business. Along the same line, Agrawal-controlled Sesa Goa aims to scale up its iron-ore trade volume through the Rs 1,750-crore Dempo deal.
It treats KG gas as personal property of the brothers, says SLP.
NTPC Ltd, the country’s largest power generator, has sought permission from the Ministry of Power to allow it to pay the marketing margin on the natural gas it plans to buy from the Mukesh Ambani-controlled Reliance Industries Ltd (RIL).
Business Standard / New Delhi July 16, 2009, 0:41 IST
The Indian business process outsourcing (BPO) industry is following in the footsteps of information technology service firms, increasing its global footprint as it eyes bigger and more complex work from clients.
Mahindra Satyam today said it is seeking an end to the eight-year old ban imposed by the World Bank on Satyam Computer which has since then assumed its new identity -- Mahindra Satyam.
New telecom licensee Etisalat DB Telecom has awarded a $400-million (nearly Rs 2,000 crore) IT applications and infrastructure outsourcing contract to Tech Mahindra. The contract is spread over a 10-year period.
The Sensex fell 0.88 per cent, or 155.02 points, at 17,486.06, as weak global markets encouraged investors to lock in profits in outsourcers such as Tata Consultancy Services and Infosys Technologies.
Pitching for raising foreign direct investment limit to 49 per cent in the defence sector, a study on India"s military exports has said global players are reluctant to fund the industry in the capital-intensive sector due to lack of incentives.
ICICI Bank has asked the government not to take into account overseas securities like ADR and GDR when deciding on whether a bank is Indian or foreign.
The Sensex and Nifty closed near their trendline support of 17,400/5,220 on the back of weakness in world stocks and lack of buying interest in the futures and options (F&O) segment in the last couple days.
Insurance regulator IRDA today tightened the anti-money laundering guidelines by asking the insurance companies to ensure that no policies are issued to persons with fictitious names.
JSW Energy plans to hit the capital markets in the third week of October to raise around Rs 3,000 crore by diluting 10 per cent equity stake.
India and Canada are in the process of finalising a bilateral trade and investment related agreement that would further boost their growing trade ties.
The US and Canada have issued fresh travel alerts to its citizens in India, warning them of possible terrorist attacks ahead of Independence Day.
Former BCCI president Raj Singh Dungarpur died in Mumbai following protracted illness. Affectionately called as ‘Rajbhai’ in the cricket fraternity, the 73-year-old Dungarpur, who was president of the Cricket Board for three years in the late 1990s, was suffering from Alzheimer’s disease.
Reportedly insists on no loan guarantee if the government is not allowed any say in the company’s future
Until lions have their own historians, the history of the hunt will always glorify the hunter —African proverb
Jaypee Group firm Jaiprakash (JP) Associates today said it will invest Rs 4,500 crore to take its cement manufacturing capacity from 20 million tonnes per annum (mtpa) to 33 mtpa by 2012.
Hinting that a nexus between private and state-owned vaccine companies could have led to gradual decline in production capacity of state-owned units, the government today said the matter required in depth probe.
Jaiprakash Associates posted a 38.9 per cent decline in its net profit at Rs 103.02 crore for the third quarted ended December 31, 2009.
Pfizer Inc sales folks had one tough customer in psychiatrist Stefan Kruszewski. He didn’t buy their pitch to prescribe the anti-psychotic drug Geodon to children, a use that hadn’t been approved by federal regulators. Nor did he go for the so-called off-label uses, such as treating dementia in the elderly, they suggested.
Pandemics are global, but political calculation to confront them is decidedly local.
Construction firm Madhucon Projects today said it has bagged an order worth Rs 196.24 crore from Northern Coalfields (NCL) for an infrastructure-related work.