Corporate
Bajaj Auto, once known for its scooters which revolutionised the two-wheeler market in the country, today said it will exit the segment by the end of the fiscal to focus exclusively on motorcycles.
The stand-off between the IIT faculty and the government over the "anomalies" in pay structure finally ended today with the teachers" body deciding to accept the new package in the "interest" of the institutes, but maintained that concerns still remain.
Bhushan Steel (Australia)’s acquisition of Australian coal and mineral exploration company, Bowen Energy, has hit the Australian Takeovers Panel hurdle, with the board ordering a re-valuation of the coal tenements held by Bowen.
Australia today became the first advanced economy to raise interest rates since the global financial crisis and promised more rises to come, declaring the risk of recession over.
Calls it ‘unappealing prospect’ from a ‘low-growth’ conglomerate.
Stocks rose around the world and commodities rallied as Australia unexpectedly increased interest rates, the first Group of 20 nation (G-20) to do so since the recession began, amid evidence the recovery is gathering momentum.
The Association of South East Asian Nations (ASEAN) will be a complete free trade area next year and regionally integrated for its six most mature economies when duties on most of products are eliminated.
At a time when cities are looking at improving transport and residential properties for urban development, the Asian Planning Schools" Association (APSA) concluded on the first day of its 10th International Congress held at Centre for Environment Planning and Technology (CEPT) University that the key lies in reducing number of slums as well.
The markets lost ground on Tuesday, after touching a one-month high, due to subdued global cues and nervousness surrounding the derivatives expiry.
Pyramid Saimira Theatre, which is engaged in entertainment business, today said it will raise Rs 500 crore by offering securities to foreign investors, qualified institutional buyers and promoters.
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Kingfisher finally ended with gains of 7.2% or Rs 3.8 at Rs 57.25. Around 12.53 million shares changed hands on the counter today.
Vijay Mallya-led Kingfisher Airlines is planning to raise up to $600 million (about Rs 3,000 crore) in the current fiscal to pay-off part of its debt.
A Kingfisher Airlines ATR aircraft with 42 passengers and four crew onboard overshot the runway after it landed at Mumbai Airport today.
A Qatar Airways flight from London to Doha has become the first commercial passenger aircraft to fly on natural gas.
Kingfisher Airlines, owned by UB Group, is planning to raise up to Rs 500 crore through issue of further share capital. Company officials indicate that this may be through a number of options including a follow-on public or rights issue.
The Foreign Investment Promotion Board (FIPB) will again consider a proposal of Vijay Mallya-promoted United Breweries Holdings (UBHL) to raise Rs 708 crore by issuing convertible equity warrants in its meeting to be held on July 24.
BA: British Airways has become one of those companies that is trapped in an endless restructuring. Over the years, the UK airline has undergone successive rounds of cost cuts. The need for yet more is as urgent ever. Sales fell 14 per cent in the first half of BA’s financial year, but costs were not removed fast enough to avert a record pre-tax loss of £292 million. And that was in the normally buoyant summer months.
Jindal Power Ltd, a part of Jindal Steel and Power Ltd (JSPL), today said it plans to raise Rs 7,200 crore from its initial public offer (IPO).
Markets opened weak this morning following cues from the Asian markets. The Securities and Exchange Board of India’s (Sebi’s) move against Reliance also dampened the sentiment. The stock slipped below the Rs 1,000-mark in early trades.
At a time when airline across the world is hit due to slowdown and Air India is facing its worst-ever crisis, Kingfisher Airlines today announced the launch of flights on eight international routes before the year-end.
Liquor baron Vijay Mallya today said his UB Group will overtake Diageo as the world"s largest spirits maker by the next fiscal.
ICICI Merchant Services, the newly-formed joint venture (JV) between ICICI Bank and First Data Corporation (FDC), plans to expand its Point-of-sale (PoS) terminal network to 500,000 over the next five years, according to a senior FDC executive.
Upping the ante in the home loan war, the country’s third largest private sector lender Axis Bank today announced a sweetened fixed-cum-floating home loan offer.
Amidst sugar prices touching Rs 44 a kg in the retail market, the government today said it is keeping a watch on the prices.
Leading car makers are considering to raise prices of their vehicles across the board, if the government withdraws the excise duty benefit in the coming Budget. The benefit was given as part of a stimulus package in December 2008, following the onset of the global economic meltdown.
The Sensex has ended (provisional) at 17,340 - down 61 points.
M Govinda Rao / New Delhi October 6, 2009, 0:21 IST
Hiring activity is finally gathering steam among the Indian corporates. The job index increased by 4.1 per cent in Septmeber 2009 as compared to August 09, said the findings of Naukri JobSpeak. On the three month moving average, the index inched up from 715 in August ’09 to 719 in September’09.
Universal Cables Limited, belonging to the M P Birla group, has clocked in a net profit of Rs 6.95 crore for the quarter ended September 30, from a net loss of Rs 1.37 crores in the corresponding quarter of the previous year. Net sales were at Rs 130.11 crore against Rs 157.96 crore in the previous corresponding quarter. D R Bansal, chief executive officer, attributed this performance to the initiative of putting up a vertical continuous vulcanization line for the manufacture of XLPE cables up to 400 kV in technical collaboration with Furukawa Electric Co Ltd, Japan.
After having launched the Classic 500 in European markets in 2008, Royal Enfield has launched the model Classic 500 in Chandigarh market as well. Shaji Koshy, Head, Sales and Marketing, Royal Enfield said that since the launch of Classic 500 model in European markets, there had been a besieged demand from Indian customers as well for this model. “In order to reach out to customers in India, Royal Enfield has introduced Classic 350 also in addition to Classic 500,” he added .The ex-showroom price of Classic 500 is Rs 1,24,000 while Classic 350 has been priced at Rs 98,000.
The country"s largest car maker Maruti Suzuki India (MSI) has firmed up plans to roll out its small car Zen Estilo on August 25 which is equipped with the latest KB-series engines.
Jaguar-Land Rover cars are now officially here. We drive the Range Rover Sport to celebrate it ROHIN NAGRANI
Leslie D"Monte & Kirtika Suneja / New Delhi December 5, 2009, 0:15 IST
Finance Minister Pranab Mulkerjee today said a balance has to be stuck on the issue of continuity of the stimulus packages.
India achieved the distinction of being the second-fastest growing economy amid the global recession in 2009, but the joy was marred by the decade"s sharpest rise in food prices to the chagrin of common man.
Will launch the one-tonne LCV at Delhi auto show on Jan 5.
Japanese auto maker Honda today said it will hold the world premiere of the concept model of a new small car that has been developed keeping the Indian market in focus at the Auto Expo here next month.
IT services company Solutions Enterprise Pvt Ltd’s offices in Mumbai and Ahmedabad used to be connected with its partner companies in Britain over the Internet and a virtual private network (VPN). However, the quality of communication had always been poor.
The area under wheat rose a marginal 2 per cent this year on favourable climatic conditions. Late monsoon left adequate moisture content in the soil that suited the wheat sowing for this rabi season.
Rajesh Bhayani / Mumbai January 5, 2010, 0:06 IST
Pradipta Mukherjee / Kolkata January 1, 2010, 1:43 IST
Bajaj Auto, the country’s second largest motorcycle manufacturer, has quietly discontinued two of its flagship products in the past three months to make way for more expensive models.
A consortium of Indian and Abu Dhabi investors, which is believed to include steel czar Lakshmi Mittal, is planning to bid for UK property company British Land, says a media report.
IT firm HCL Infosystems today announced its partnership with global chip maker Intel and state-run telecom operator BSNL to launch low-cost computing devices offering broadband wireless connectivity.
Steel companies SAIL, Tata Steel, Essar, Bhushan and JSW have hiked prices of their products by up to Rs 2,000 a tonne on the back of a rise in demand in the domestic market.
Huawei Technologies India, the largest overseas R&D centre of Huawei Technologies, today announced the achievement of SEI CMMi Ver 1.2 Level 5 certification.
Galleon Group LLC, the hedge fund firm at the center of a $20-million insider trading prosecution, came to the attention of prosecutors by 2001 for allegedly soliciting internal data on Silicon Valley companies.
Thinksoft Global Services, an IT solutions provider, closed with the highest premium among the new listings so far in the current financial year with its stocks closing at Rs 164.30 on the Bombay Stock Exchange (BSE) on Monday, up 31.44 per cent against the issue price of Rs 125.
The government will impose a hefty penalty of 15 per cent of sale proceeds if farmers produce more export quality tobacco than the quota allotted to them by the Tobacco Board for the current year.
Tata Steel has invested Rs five crore on developing the Dharani Dhar sports complex at Sankarpur in Keonjhar.
Fears of an imminent price rise, production spillovers owing to spare parts shortages plus a low base effect saw sales of the country"s major car makers grow a record 63 per cent in November.
With the Indian economy showing signs of leaving the recession behind, companies from the US are once again making a beeline to the India shores scouting for opportunities. Companies from varied sectors are looking to test the waters with an investment in mind at a later stage. “Last year, things were rocky and very few trade delegations came to India. However in the last one and half months, things have turned around,”said Sandeep Mehra, committee member, Indo American Chamber of Commerce (IACC), Karnataka branch.
Car maker Maruti Suzuki India Ltd today reported a 41.56 per cent jump in sales for August at 84,808 units.
The Supreme Court today issued notice to the Narendra Modi government on a petition filed by expelled BJP leader Jaswant Singh challenging the order banning his controversial book on Muhammad Ali Jinnah in Gujarat.
The government today said it will soon come out with a uniform and single licence fee for telecom service provider, which is currently between 6 and 10 per cent of the revenue of these companies.
The Indo-US nuclear deal and India"s subsequent entry into the Nuclear Suppliers Group (NSG), ending 34 years of nuclear isolation, has thrown open business opportunities worth an estimated $100 billion by the year 2032. The country is planning to increase its nuclear power generation by about 60,000 mega watts (Mw) within the next 25 years. This planned capacity addition is being executed by the state-owned Nuclear Power Corporation of India Ltd (NPCIL). Its head, Chairman and Managing Director SK JAIN, tells P B JAYAKUMAR about his plans and expectations. Excerpts:
Raj Oil Mills finally settled at Rs 118 on the BSE today. The debutant touched an intra-day high of Rs 133, up 6.5% from its opening. The counter clocked a volume of over 17.3 million shares on the first day.
NLC net rises marginally
It is the first overseas acquisition by an Indian sugar company.
GTL today reported a 31 per cent growth in net profit at Rs 50.22 crore for the quarter ended September 30, 2009. In the year-ago period, the company had a consolidated net profit of Rs 38.30 crore, GTL said in a filing to the BSE.
Sugar major Bajaj Hindusthan today said it has fully utilised Rs 710 crore raised by private placement of shares for repayment of its debt in accordance with the terms of the issue.
Will help state government breathe easy.
Infrastructure development firm Maytas Infra today said it has bagged an order worth Rs 790 crore from IL&FS Transportation Networks (ITNL) for road construction work.
Godrej Properties has fixed a price band of Rs 490-530 per equity share for its initial public offer, which is scheduled to open for subscription on December 9.
The National Bank for Agriculture and Rural Development (Nabard) has pumped in Rs 10,000 crore till August to refinance banks, of the targeted Rs 33,500 crore, Nabard Chairman U C Sarangi said today.
The faculty of IIT-Madras began a nine-day protest here today against "delay" in implementing the Sixth Pay Commission recommendations and warned of intensifying the agitation if the government failed to take cognisance of their protest.
The government today said it does not maintain statistics of Muslim employees in Central government services but it has data for the five minority communities as a whole.
The Lok Sabha today post facto put its seal on merger of the State Bank of Saurashtra (SBS) with State Bank of India (SBI) amid opposition from Left parties.
Driving consumption among middle and lower income consumers, collaboration between retailers and suppliers, understanding consumers is the mantra to grow modern retail in the coming days as the sector comes out of slowdown blues, say fast moving consumer companies (FMCG) and organised retail chains.
Asian stocks fell, led by banks and developers, as UBS reported a wider-than-estimated loss amid investor concern that the withdrawal of stimulus measures will cause the global recovery to falter.
Vijay Mallya-led Kingfisher Airlines is planning to raise up to $600 million (about Rs 3,000 crore) in the current fiscal to pay-off part of its debt.
Infosys BPO, the back-office unit of IT firm Infosys Technologies, today said it would hire 1,500-2,000 people by the end of the current fiscal.
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.
The International Finance Corporation (IFC), a member of the World Bank group, will work with the Andhra Pradesh government to enable three public hospitals in Kurnool, Vishakhapatnam, and Warangal to offer advanced diagnostics services like dialysis to low and middle income people.
Natco Pharma net up 13%
I am a retired army pensioner and have deposited all my savings in bank fixed deposits. But I am losing a considerable amount on account of TDS, which the bank deducts on the interest payments. Currently, I want to invest Rs 1 lakh in some debt fund with a horizon period of one year. Please suggest some good mutual funds which can yield more income than bank fixed deposits and be tax friendly. Being retired, I cannot go for equity schemes.
Indian Overseas Bank today reported 51 per cent decline in its net profit at Rs 176.04 crore for the second quarter ended September 30, 2009.
Trades between FIIs generated a volume of Rs 38 crore on the BSE Tuesday-an decrease of 38.84% from Rs 62 crore clocked on Monday. As many as six stocks witnessed trades of 7.71 lakh shares on Tuesday.
The Indian Institute of Public Health Gandhinagar (IIPHG), which launched a one-year diploma course in public health management for government servants a year ago, is now planning to introduce a postgraduate programme in emergency management.
Bankers today said that the increase in the statutory liquidity ratio (SLR) limit would not impact the liquidity in the banking system in any significant manner.
Various central levies such as excise, value added tax and service tax are proposed to be subsumed in the the Goods and Services Tax (GST), making it a lot easier for the business and industry.
India"s fiscal deficit touched 45.5 per cent of the full-year estimate in the first five months of the current fiscal.
With wholesale price inflation not reflecting true picture of food prices, the government today justified the introduction of separate index numbers for primary products and manufacturing items, saying the new mechanism give better reflection of price movements.
A spike in the inflation numbers took its toll on the indices. The Sensex ended at 17,097, lower by 21 points and the Nifty closed at 5105, down 11 points. The FMCG, banking and consumer durables pack had a poor day.
Progressive global cuisine, molecular gastronomy, nameless dishes. This one is truly exclusive.
The Sensex after rebounding into green touched a high of 17,226, and is now up 77 points at 17,196. The NSE Nifty is up 15 points at 5,132.
Responding to banks’ petitions, the Reserve Bank of India (RBI) has raised the transaction limit for mobile banking to Rs 50,0000 a day.
A mid-year review of the economy by the government today stressed the need for urgent action to contain the rising prices of food articles, hitting the common man hard.
Panel shortlists five candidates, decision on winning entry in January.
Business Standard / New Delhi December 21, 2009, 0:39 IST
Salaried employees may burn a hole in their pockets with the government all set to impose tax on all perks --residential accommodation, conveyance and others -- paid for by the company, under a new law that replaces the already abolished Fringe Benefit Tax (FBT).
Sunil Jain / New Delhi January 01, 2010, 0:35 IST
Current market fluctuations in bonds yields were not dangerous, and a 10-year yield of 7-8 per cent was not uncomfortable, Reserve Bank of India (RBI) Deputy Governor K C Chakrabarty said today.
A new decade started in the year 2010 will witness a radical re-distribution of forces in the world economy.
Amid growing opposition to the human consumption of genetically-modified brinjal, also referred to as Bt brinjal, in various quarters, Environment and Forests Minister Jairam Ramesh will travel across the country in January to hold consultations.
Global economy: The New Year brings a new agenda. In 2009, as the blue emergency lights flashed, extreme policy-making was permitted: anything to avert depression and deflation. But now recovery has arrived and anything goes won’t be enough to keep markets happy.
Shree Renuka Sugars ended at Rs 229, up by Rs 7 or 3.3%, on the BSE. Over 4.07 lakh shares have changed hands at the counter. The stock hit a high of Rs 230 and a low of Rs 223 during the day.
In a bid to attract more Indian students to the US, ten universities from the US have collaborated with IDP Education, a student placement service provider.
US fund house TIAA-CREF has exited Oil and Natural Gas Corporation (ONGC) and other Chinese energy companies over their investments in war-torn Sudan, but the Indian company said its operations did not support suppressive activities anywhere in the world.
Concerns about Dubai’s potentially crippling default on enormous debts to global creditors have rattled investor confidence across the oil-exporting Gulf region but Abu Dhabi will come to the rescue, says a leading economist in the region.
Notwithstanding the UAE being India"s top destination for exports, the government today put up a brave face stating financial concerns in Dubai would not impact the Indian economy and the country"s real estate sector.
After many denials and protracted bargaining with several buyers, pharma major Wockhardt sold 10 of its hospitals to Fortis last week. The hospitals sale came within two months of the company selling its German business Esparma for an undisclosed amount.
Market regulator Securities and Exchange Board of India (Sebi) has asked the government to consider appropriate action against Reliance Industries (RIL) for allegedly routing funds to dummy companies for buying large quantity of its shares in the year 2000.
The retail sector in Kolkata has adopted a wait and watch situation with retailers still wary of what lies ahead. What started as a big set-back for the retail industry in end-2008 with several malls and retailers shutting shop, the year 2009 was particularly bad for the industry with several cancellations of booked spaces and deferment of sanctioned projects.
Two-wheeler maker Hero Electric today said it will start exporting its scooters to Latin America and Europe by the end of this fiscal and is looking for distributors in these regions.
Cairn India, which began production from the world class Mangala oilfield in Rajasthan in late August, has reached 1 million barrels of oil output from the nation"s most prolofic onland field.
In a major breakthrough, Oil and Natural Gas Corporation (ONGC) today signed agreements to pick up stake in a giant gas field and an LNG plant in Iran, which also awarded the rights to develop a gas discovery it made in the Persian Gulf two years ago.
The government today requested the Supreme Court Bench adjudicating the gas dispute between Reliance Industries Ltd (RIL) and Reliance Natural Resources Ltd (RNRL) to avoid making any interpretation of the production sharing contract (PSC).
Oil and Natural Gas Corp (ONGC) and its partners will invest over Rs 46,000 crore (about $10 billion , based on current exchange rate) in two giant gas fields and an LNG project in Iran, Iranian Deputy Oil Minister Seifollah Jashnsaz said.
Cairn India, which started pumping crude oil from its Mangala field in Barmer (Rajasthan) this August, has entered into an agreement with Reliance Industries Ltd (RIL) for supplying it to the latter’s Jamnagar refineries. Cairn is likely to supply seven consignments of 200,000 barrels each to RIL during the current financial year, said an informed source. The first consignment will reach Jamnagar by end-November. The company had sold its first cargo of 208,000 barrels to Mangalore Refinery and Petrochemicals last month and it will deliver two more cargoes this month.
Hindustan Petroleum Corporation (HPCL) will invest Rs 6,900 crore to upgrade its diesel quality to Euro III and IV.
India today proposed to invest $6.5 billion to develop gas fields in Iran and sought more liquefied natural gas (LNG) from that country.
The country’s merchandise exports continued their southward march, falling 6.6 per cent to $13.19 billion (over Rs 61,500 crore) in October, against $14.1 billion (Rs 65,775 crore) in the same month last year, when it declined by more than 12 per cent over 2007-08.
Allaying fears of delay in preparation for the Commonwealth Games 2010, Government today assured Rajya Sabha that all state-of-the-art stadia and infrastructure will be completed in time and security steps taken to ensure that the mega event is incident-free.
In a fresh initiative, Prime Minister Manmohan Singh today expressed the Centre’s willingness to “talk to anyone” having “meaningful ideas” to promote peace in Jammu and Kashmir and offered to resume dialogue with Pakistan provided it curbed activities of those engaged in terrorism in India.
The share of SGX Nifty has risen from 2% in March to 5.9%.
Nobel Laureates / October 11, 2009, 0:06 IST
A V Rajwade / New Delhi September 26, 2009, 0:41 IST
Delhi-based BAG Films and Media, a media and entertainment company, today stated that its board has apporved the raising of upto $ 30 million (about Rs 141 crore) through global depository receipts (GDR) or foreign currency convertible bonds (FCCB) or any other security in the international market.
The markets were propelled this week by good economic data, the central government"s reforms agenda and strong global markets. The Sensex ended higher by 690.55 points or 4.27% at 16,848.83 and the Nifty closed at 4,998.95, up 202.80 points or 4.23%.
Mahindra Satyam slipped to a low of Rs 109 and finally ended at Rs 110, down around 7%. The counter witnessed trades of 46.44 million shares on the BSE as compared to the two-week daily average traded volumes of 7.23 million shares.
The issue concerning foreign ownership in Indian banks is currently under discussion among the finance ministry, commerce and industry ministry and the Reserve Bank of India (RBI) and is likely to be resolved soon.
There is a need to include ethics and morals in the curriculum of engineering and management education, M C Bhandare, the Orissa governor said here at the Fifth Annual Convocation of KIIT University.
The Indian stock markets witnessed a net inflow of Rs 24,800 crore from overseas investors during December quarter in the current financial year.
Energy firm Shell today ruled out huge capital investments in India and said it would rather improve upon on its competitiveness in the market.
Insurers are likely to take a hit of up to Rs 140 crore from the recent fire accident at the IOC marketing plant near Jaipur. The plant was insured for Rs 238 crore by ICICI Lombard as the lead insurer, while Oriental Insurance had the second-largest share, followed by Iffco Tokio and National Insurance with 10-15 per cent stake each.
3 Idiots has passed the cinegoer’s test with flying colours. The Aamir Khan-starrer raked in Rs 12.5 crore on Friday. Experts estimate the movie to net Rs 40 crore over the first weekend from the box office, with gross collections of Rs 65 crore. Khan’s last release, Ghajini, earned around Rs 40 crore net in the first four days, since the movie released on a Thursday. Aamir Khan said: “The response is huge, we are still gathering the enormity of opening collections. To match Ghajini’s opening day collections is something, to surpass Ghajini is completely overwhelming.”
Domestic companies are expected to embark on a mega fund raising spree this year with plans to raise over Rs 50,000 crore by way of public offers, driven by the sharp recovery in the stock market.
Dish TV’s new campaign presents Shahrukh in a new avatar to take on Tata Sky’s Aamir
Mukesh Ambani Group firm Reliance Industries (RIL) and Anil Ambani"s Reliance Natural Resources (RNRL) today joined hands to oppose the plea of a shareholder in both the companies to be made party in their ongoing dispute in the Supreme Court over the gas price to be supplied from the KG basin.
China today started operation on its fastest rail link in the world with a high-speed train connecting the modern cities of Guangzhou and Wuhan at an average speed of 350 kilometres an hour.
Oil and Natural Gas Corporation (ONGC) has replaced Reliance Industries Ltd (RIL) with Repsol YPF SA, Spain’s biggest oil company, and Malaysia’s Petronas to bid for Venezuelan oil blocks next month.
Broadcasters are increasingly opting for non-exclusive rights of films this year.
The Aamir Khan-starrer 3Idiots is the most-awaited Bollywoood film of 2009. Producer Vidhu Vinod Chopra is banking on this to bargain for an exceptionally good financial deal.
Troubled financial services firm Citigroup has said that any allegation that the Federal Bureau of Investigation (FBI) is working on a case involving breach of the company"s systems resulting in millions of dollars losses is false.
Haryana Finance Minister Capt Ajay Singh Yadav has directed the financial commissioner and principal secretary, urban local bodies, that the matter could be taken with the Government of India to increase the allocations under JNNURM and Urban Infrastructure Development Scheme for Small and Medium Towns (UIDSSMT). The finance minister was reviewing the progress of central sponsored schemes with the officers of finance, public health and urban local bodies department. These schemes were being launched in the state for the welfare of all sections of society.
Sunil Sethi / New Delhi August 22, 2009, 0:04 IST
Kingfisher Airlines is planning to raise around $600 million worth of funds in the current financial year to pay off its debt and strengthen its bottom line, in the backdrop of a turbulent time for the country’s aviation industry.
Vanita Kohli-Khandekar / New Delhi November 10, 2009, 0:55 IST
"Vulgar" salaries became a sore thumb in 2009 and everyone from CEOs to office assistants felt the pinch of the economic downturn, but Indians still managed a worldwide-best average six per cent hike in their pay.
The Videocon Group’s move to set up a 3-million-tonne-per-annum steel plant and a 1,200-Mw power project over a patch of coal-bearing area at Jamuria, near Asansol (West Bengal), has been opposed by state-owned Coal India Limited (CIL), the world’s single-largest coal miner.
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 sales of luxury car maker Mercedes Benz have dwindled in Punjab and Chandigarh this year, primarily due to short supply.
The largest private sector lender ICICI Bank can soon operate as a local bank in Singapore, following an in-principal approval from the city-state.
More CCTV surveillance and tighter security norms are likely to prevail in nuclear installations across India after “an act of mischief” in the Kaiga nuclear plant in Karnataka, almost 500 km from Bangalore, left 50 scientists exposed to radiation.
Post Copenhagen, Indian exporters are more likely to face non-tariff barriers on the grounds of environment. The commerce ministry needs to identify potential areas of conflicts and put in place a mechanism to respond to them.
The government today said a proposal for $2.97 billion loan from the World Bank has been formulated and the same will be taken up with the President of the bank visiting India shortly.
All-weather roads in the villages of the country has doubled the income of rural households, raised literacy rate by 10 per cent, and appreciated land prices by up to 80 per cent, says the World Bank. “In 2000, about 40 per cent of India’s 825,000 villages lacked all-weather roads ...with access to roads, incomes have soared.
India’s second-largest IT services firm, Infosys Technologies, has set up a separate unit within its business process outsourcing arm (Infosys BPO) to concentrate solely on the domestic BPO market.
Ranbaxy Laboratories, received the final approval in Canada to manufacture and market Ran-Simvastatin tablets from Health Canada, Therapeutic Products Directorate. The total generic market size of Simvastatin tablets in Canada is $CAD153 million.
May lose high-revenue-yielding subscribers; but users to benefit.
The Supreme Court has issued notice to 11 parties, including Trai, Reliance Communications, Tata Teleservices, Vodafone Essar, on a petition by state-run BSNL challenging removal of Access Deficit Charge (ADC), a levy paid by private telecom operators for funding the PSU"s operations in rural and remote areas.
Reliance Webstore, the retail arm of Reliance Communications, today said it has forayed into handset distribution and plans to have a network of 10,000 outlets across the country in the next three years.
Finance Minister Pranab Mukherjee has said that India will not be able to sustain high fiscal deficit in the long run, but he did not give any timeframe for withdrawing the stimulus measures that inflated the deficit.
Telecom operator Tata Teleservices (TTSL) today said its subscriber addition in November at 3.3 million is the highest for the fourth time in a row among all service providers, including GSM operators.
City-based Kamineni Hospitals today said it would set up a chain of hospitals across Andhra Pradesh under a Rs 300 crore-expansion plan in the next two to four years.
India has the potential to emerge as a global innovation hub and the US"s collabortion with Indian pharma and health companies will not only help the two countries, but also entire world, eminent experts and industry leaders said.