Aiming to make safe drinking water affordable to rural masses, Tata Group company Tata Chemicals today unveiled a water purifier named Swach under Rs 1,000 price tag and announced Rs 100 crore investment over the next five years for the project. property for sale in namibia
After opening weak, the Asian markets have rebounded into the green. The Hang Seng is now up 19 points at 21,9212. The Nikkei is trading flat at 10,105.
The markets are likely to open on a flat note this morning on the back of mixed global cues. The indices yesterday attempted a pullback but eventually ended with marginal gains as selling pressure persisted on every rise.
The market is in a short-term downtrend and should find support between 5,000 and 5,050.
The markets are likely to open on a flat note amid mixed cues from the global markets.
Pulsar’s new variant, to be unveiled next week, will retain the looks of a big bike, but the engine will be 135 cc.
The All India IIT Faculty Federation (AIIITFF) President M Thenmozhi today urged faculty members of all the Indian Institutes of Technology (IITs) to accept and implement the recommendations of the Sixth Pay Commission.
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.
Aditya Birla Nuvo is in talks with global private equity players Blackstone, Carlyle and KKR to sell shareholding in its proposed holding firm for its financial services business. The financial services holding company will house its asset management, insurance, stock broking, wealth management and private equity businesses.
The Sensex is quoting at 17,013, higher by 30 points and the Nifty is at 5,076, up 9 points.
The Asian markets ended in the red.
The US markets ended on a mixed note. Dow Jones closed at 10,390, higher by one point, Nasdaq ended at 2,189, lower by four points and the S&P shed two points or 0.25% at 1,103.25.
Kerala Tourism has launched an online training programme to help travel agents and tour operators in the UK get acquainted with the state’s tourism products and in turn increase UK sales to Kerala.
The Board of Approval (BoA), the apex body which clears special economic zone (SEZ) projects, will meet next month to approve fresh proposals.
Kalpana Pathak / New Delhi December 01, 2009, 1:30 IST
Over 2.4 lakh aspirants will vie for entry to the prestigious Indian Institutes of Managements (IIMs), the Common Admission Test (CAT) for which will be computer-based for the first time this year.
Business Standard / New Delhi October 21, 2009, 0:13 IST
Business Standard / New Delhi November 15, 2009, 0:02 IST
United Breweries (UBL), India"s largest brewery controlled by Indian billionaire Vijay Mallya, has posted a strong 57 per cent increase in net profit to Rs 35.5 crore for the first quarter of current fiscal as against the corresponding period of last fiscal. Net sales at Rs 556.4 crore was up 17 per cent, powered by a 25 per cent growth in strong beer.
Slowly but surely, tourism is picking up in the sylvan highlands of Scotland despite recession, thanks to an increase in the number of Indian tourists, keen to explore the locales where popular Indian films were shot. The Scottish tourism industry has already registered a bumper season so far and hotels and attractions are gearing up for a busy period in the holiday season.
Mangalore Chemicals and Fertilizers Ltd (MCF), a Bangalore-based UB Group company engaged in the manufacture of fertiliser (urea, DAP and MOP), is geared up to relaunch its granulated fertiliser business. The company had suspended the sale of granulated fertiliser (blended fertilier) in June 2008 following the change in the fertiliser subsidy policy by the government last year.
To add punch to IAF’s fleet of Sukhoi, Mig-29, Mirage-2000, Tejas.
With the government having finally admitted that the current Plan period’s power capacity addition target of 78,700 Mw is likely to be missed by over 20 per cent, experts have raised concerns over the impact on the country’s economic growth.
The Railways" ambitious plan to raise Rs 1,00,000 crore in the Eleventh Plan (2007-12) to develop rail infrastructure projects through public private partnerships (PPP) appears to have gone badly off track. Most key projects are still to get started, mainly because of the inability to get a fix on a viable PPP policy.
With the economy showing signs of recovery, job market is also picking up and hiring is set to pick up pace, a senior official of a job portal today said.
Royal Enfield, niche motorcycle maker and a division of Eicher Motors, that has sold around five lakh bikes in its 54-year history now plans to take up its annual sales figures to one lakh by 2013.
While Maruti had a stupendous quarter on the back of rising volumes, the stock price reflects these gains.
The market is likely to be volatile on the last day of the expiry of the December series as rollovers in index and stocks futures on the penultimate day were substantially lower than the same time last month.
Low volumes of the "common man"s car", expected to encourage people to buy a brand new car instead of an used one, has, however, put prices in the used car market back on track.
Japanese car maker Toyota Motor Corp, which is coming out with a compact car by December 2010 in India, will produce 70,000 units in the first year, a top official of Toyota-Kirloskar Motor said.
Hospitality firm Viceroy Hotels today said it has approved the proposal for raising up to $15 million or Rs 70 crore through qualified institutional placement (QIP).
The issues of land acquisition and ways to remove problems faced by foreign and domestic investors, especially at the implementation stage, are likely to come up at a meeting the Centre will hold with state industry ministers here tomorrow.
This is one luxury Bangalore can afford not to have. The city is set to add the highest number of “keys” in the upscale rooms category at a time when demand is not so certain.
The Supreme Court has issued notices to 23 states and three UTs on a petition by Tata Motors seeking quashing of the Central Sales Tax Appellate Authority"s decision asking it to pay Central Sales Tax to the tune of around Rs 14 crore on sale of bus chassis to the Andhra Pradesh government.
The government will try to pass the National Green Tribunal Bill, 2009, in the current Parliament session. The Bill aims at establishing an autonomous tribunal, independent of the Ministry of Environment and Forests (MoEF), for environmental clearance of development projects and providing relief and compensation to people affected by natural calamities.
Prime Minister Manmohan Singh has conveyed to the United States, India"s concern over misuse of its military and other kind of aid by Pakistan.
Rajesh Bhayani / Mumbai January 5, 2010, 0:06 IST
Tata Motors has no immediate plan to export the Nano, the world"s cheapest car, as it is currently concentrating on meeting the domestic demand, Tata Group Director Jamshed J Irani has said.
The benchmark indices rose for the second straight day today with S&P CNX Nifty closing at a 22-month high of 5,278. Nifty January futures closed at a premium to the spot and added 1.05 million shares in open interest through buy-side trades, indicating fresh long build-up. However, the Nifty remained range-bound after opening at higher levels.
Scientists in the US have developed a rapid and automated swine flu testing method that will enable quick and effective diagnosis decisions.
A low-cost diagnostic tool kit that can detect the swine flu virus in just five minutes is being developed by the Indian Council for Medical Research, a top official has said.
A day after paceman S Sreesanth was diagnosed with swine flu, comprehensive preventive measures were today put in place to ensure that other members of the Indian cricket team were not affected by the dreaded virus.
Abhineet Kumar & Sidhartha / Mumbai December 31, 2009, 0:26 IST
Eyeing the forthcoming Commonwealth Games in India as an opportunity to promote tourism in the state, the Haryana government has decided to introduce a bed-and-breakfast scheme.
Despite setting an ambitious target of generating revenues in excess of Rs 900 crore, the organisers of the ‘Commonwealth Games 2010 Delhi’ expect the event to be “revenue neutral”, meaning all that is earned through TV rights and other commercial deals will be spent on the game.
Dhanalakshmi Bank today said it has raised Rs 150 crore by selling bonds to investors on a private placement basis.
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.
The stock could see further re-rating, given that almost every segment has chipped in with better numbers.
Italian modular kitchen company Cucine Lube today said it plans to strengthen its retail presence in India by opening nine more outlets across the country by 2011.
Tata Steel has invested Rs five crore on developing the Dharani Dhar sports complex at Sankarpur in Keonjhar.
The Department of Telecom (DoT) has decided to seek legal opinion in the matter of allotment of additional radio waves beyond 4.4 MHz to mobile operators.
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.
Cross 1-million mark on surge in commercial vehicle sales.
TVS Motors today reported 23 per cent growth in total two-wheeler sales in November at 1,20,844 units against 98,402 units in the same month last year.
Beating analyst expectations, India"s largest IT services provider, Tata Consultancy Services (TCS), reported a net profit (consolidated Indian Generally Accepted Accounting Principles -- GAAP) of Rs 1,534 crore -- up 19 per cent year-on-year (YoY) for the first quarter ended June 30, 2009. Its revenue for the same period stood at Rs 7,207 crore -- up 12 per cent YoY.
State-run telecom operator BSNL would expand its network in naxalite-affected areas of Bihar and update facilities in the region bordering Nepal, Union Minister of State for Communications Sachin Pilot said today. "We will lay thrust on expanding our network in the naxal-hit areas of Bihar, besides updating communication facilities in the areas bordering Nepal," Pilot told reporters here.
The constitution of a tribunal to settle the dispute over Mahadayi’s waters between Karnataka and Goa, where it is called Mandovi) has come as a rude shock to the farmers of North Karnataka who were eagerly waiting for the completion of the Kalasa-Banduri nalla project.
The Advocates Association of Bangalore today demanded the transfer of Karnataka High Court chief justice P D Dinakaran who faces an impeachment motion for alleged disproportionate assets and land-grabbing.
Car maker Maruti Suzuki India Ltd today reported a 41.56 per cent jump in sales for August at 84,808 units.
World"s largest car maker Toyota today said it is looking to expand its dealership network in the country with plans to have a total of 150 outlets by 2010.
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.
Oil India (OIL) has planned an investment of more than Rs 4,550 crore for the next 18 months in exploration and other expansion activities, company officials said today.
Adidas, which launched its premium lifestyle product – Originals — in India two years ago, is still in the process of educating customers about the different story that the collections, represented by the Trefoil logo, has to tell vis-à-vis its regular "performance’ brands. Timo Pape, adidas’ Director Sport Style, Asia Pacific, spoke to Suvi Dogra about the German sports wear company’s strategy to increase the share of Originals to one-fifth of its business in India. 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.
Almost a year after its inception, the Indian Institute of Technology, Gandhinagar (IITGn) has got its own director in Sudhir K Jain. An expert in earthquake engineering, Jain graduated with a BE in civil engineering from IIT Roorkee before he went on to pursue a masters degree, as well as PhD in structural engineering. In an interview with VINAY UMARJI & CHITRA UNNITHAN, Jain talks about his plans of making IITGn “one of the finest institutions in the world”. Edited excerpts:
In order to check price escalation in pulses, Gujarat government has imposed stock limit on pulses. As per the notification issued last week, the stock limit for whole-sellers is 100 tonnes and for retailer it is 50 tonnes.
Media and Entertainment Group UTV Software Communications today said its consolidated net profit for the fourth quarter ended March 31, 2009, slipped by 40.16% to Rs 11.22 crore.
Utility vehicle maker Mahindra & Mahindra(M&M) is banking on leveraging its popular Bolero brand to expand its presence in the pick-up segment, where it is currently the market leader with an 85 per cent market share.
This is the third price hike in less than a month; mills will pay Rs 200-205 a quintal.
The sugarcane growers of Uttar Pradesh have declined the state government’s offer of selling their produce at Rs 160-170 a quintal, a rate less than what their counterparts in Uttarakhand are getting.
The Shekhar Bajaj-spearheaded Bajaj Electricals is open to acquisitions, both domestic and overseas, in its related lines of businesses with the ticket-size in the range of $25-50-million, a top company official said.
2010 is likely to be the world"s warmest year on record, the British Met Office has predicted. According to the Met Office, man-made climate change will be a factor and natural weather patterns would contribute less to 2010"s temperature than they did in 1998, the current warmest year in the 160-year record.
Bajaj Hindusthan today announced its third quarter results. The company has posted a net profit of Rs 60.08 crore for the third quarter ended June 30, 2009 as compared to a loss of Rs 35.41 crore during the corresponding quarter last year.
Brazil’s CSN and Tata Steel, which had once battled for control of Corus, the European steel company, are set to become stakeholders in Australia’s Riversdale Mining.
With the revival of the job market India Inc is all set to witness a significant jump in attrition levels as well, especially in sectors like aviation, information technology and business process outsourcing, executives search firm GlobalHunt India said today.
Despite uncertainties over cane pricing, sugar mills in Uttar Pradesh plan to commence crushing as early as possible, in order to avoid any recovery loss which may impact their operating performance.
US companies such as GE Hitachi Nuclear Energy, Westinghouse and Babcock & Wilcox have made a strong case for an early passage of the Civil Liability for Nuclear Damage Bill by Parliament. The Union Cabinet has already cleared the Bill, which is expected to be tabled in Parliament during the ongoing winter session.
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.
An alliance between Congress and JVM appears almost certain for the Assembly elections in Jharkhand later this month and in December.
Business Standard / Mumbai October 31, 2009, 0:51 IST
India is back on the radar of global investors even in the midst of the global financial crisis, with 56 per cent year-on-year rise in inflows of foreign direct investment in July this year, an official said.
The International Monetary Fund, which sold 200 tonnes of gold for about $6.7 billion to the Reserve Bank of India, today said it got a "good price," and wants to be similarly "lucky" in the next phase sale of the precious metal.
Public sector lender Bank of Maharashtra’s net profit for the July-September quarter rose 22.86 per cent to Rs 86.68 crore from Rs 70.55 crore in the same period a year ago.
The government may selectively extend more sops to exporters rather than withdrawing the stimulus given to them last year in the face of global slowdown, Commerce and Industry Minister Anand Sharma has said.
The banking stocks continue to rule high on the back of stimulus measures by the Reserve Bank of India that helped revival of economic growth and attraction of foreign funds. Key economic data like the recent Index of Industrial Production (IIP) indicated likely swift recovery of the economy. Factory output at 10.4% in August registered the highest growth rate in 22 months.
Crisis in Karnataka BJP continued today with dissidents persisting with their demand for the removal of Chief Minister B S Yuddyurappa, who said that the party leadership is evolving a "new formula" to end the stalemate.
The rift between Karnataka chief minister B S Yeddyurappa and his mine-owning ministerial colleagues continued as they stepped up their campaign against a new cess imposed on lorries transporting iron ore. Tourism minister G Janardhana Reddy, himself a mine owner in the ore-rich Bellary district, took the lead in holding parleys with like-minded fellow miners since yesterday to mobilise support against the Rs 1,000 cess on each lorry load of iron ore, sources close to them said here. There are 92 licenced owners of mines in the district and about 40 of them have been carrying on mining.
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.
Fortis Healthcare is likely to come up with two low-cost hospitals in two years in an effort to test its affordable health care model. Although the firm is reluctant to divulge the exact locations of these greenfield ventures or the total investment into the project, the health care major is likely to open these hospitals in north and western India while attempting to cut down its capital expenditure there by about 50 per cent.
My broker has advised me to invest a lumpsum amount in a Monthly Income Plan (MIP). In the current scenario where interest rates are expected to rise, should I do so? Also, should I invest in more than one MIP for diversification?
Is it better to invest short-term money in an arbitrage fund instead of liquid funds? The returns from the former, being equity-oriented, are tax-free after a year, while those of a liquid fund, which is a debt fund, would be taxable. More, in a falling interest rate scenario, liquid funds are not expected to return 8 to 9 per cent as earlier. On the other hand, arbitrage funds can comfortably return 7 per cent. Suggest some good arbitrage funds.
State-run power producer NTPC, which is eyeing coal mines in South Africa to meet the gap in domestic fuel supply, will appoint a merchant banker next month to do the due diligence of those properties.
However, it will file a chargesheet on company law violations
Senior Biju Janata Dal (BJD) leader and the state"s agriculture minister Damodar Rout has accused the Paradeep Port Trust (PPT) authorities of tarnishing the image of the port.
Profitable listed public sector undertakings (PSUs), in need of funds to meet their capital expenditure, will be encouraged to approach the stock market with follow-on public offerings. The government will consider the sale of a part of its shareholding in such PSUs when they expand their equity bases by issuing fresh shares.
After a gap of almost a year, the government may resume releasing monthly figures on indirect tax collections this month onwards. The Central Board of Excise and Customs (CBEC), working under the Ministry of Finance, is planning to release next week the excise, customs and service tax collection data for October.
India"s fiscal deficit touched 45.5 per cent of the full-year estimate in the first five months of the current fiscal.
The country managed a reasonable economic growth of 6.1 per cent during the first quarter of the current fiscal despite the global financial crisis impacting manufacturing and certain services like hotels.
Surjit S Bhalla / New Delhi December 26, 2009, 0:41 IST
India"s economic expansion could exceed 7.75 per cent during the current fiscal, helped by high GDP growth numbers recorded during the July-September quarter, the government informed Parliament today.
Over 3000 Indian Institute of Technology (IIT) alumni from across the world will gather near here to participate in a global conference on technology and innovation that would be attended by President Barack Obama"s Chief Technology Officer Aneesh Chopra.
A new decade started in the year 2010 will witness a radical re-distribution of forces in the world economy.
The Indian rupee today depreciated by 8 paise to 46.28 against the US currency in early trade on expectations of capital outflows by foreign funds.
When the West Bengal government intervened by setting up Operating Managing Committees (OMCs) of workers in closed and sick tea gardens in the state, it was done to also alleviate the basic problems of the workers’ families. But this seems to have only given rise, as reported in the earlier parts of this series, to a section which makes money by exploiting other workers in collusion with local contractors. There is little evidence of any intervention, either by the district administration or political bigwigs, to curb this.
Drug maker Wockhardt today said its shareholders have approved sale of Mother and Child Care and Nutriuno businesses to Abbott Healthcare for Rs 281.6 crore.
With the projected traffic of the port sector in the country pegged at 1570 million tonne per annum (mtpa) by 2011-12, the government will have to remove various impediments to achieve overall growth of the ports.
ONGC Videsh, the overseas investment arm of state-run Oil and Natural Gas Corporation, is in talks to set up a refinery in Nigeria even as Indian companies look at sourcing LNG from African nations.
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.
Electronic bike makers want countervailing duty (CVD) on the import of e-bike components to be rolled back and 30 per cent subsidy on e-bikes under New and Renewable Energy Policy in the upcoming Budget in order to provide impetus to the industry.
The Deputy Chief Minister of Punjab Sukhbir Singh Badal today urged Farooq Abdullah, Union Minister for New and Renewable Energy to enhance the central subsidy for solar water pumping systems for irrigation and allied purposes from Rs 30 per watt to Rs 100 per watt to make the system viable for small and marginal farmers.
Iran today offered 40 per cent stake in a giant gas field in the Persian Gulf to India"s ONGC Videsh (OVL) and NRI business conglomerate Hindujas, who would split the stake equally.
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).
Bank of America has said it will repay $45 billion bailout funds to the US government.
Steel magnate Lakshmi Mittal has pulled out of a project involving development of an oilfield in Kazakhstan in partnership with Oil and Natural Gas Corporation (ONGC). It is now looking for buyers for its stake in another company in the Central Asian nation.
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.
The Sensex and the Nifty closed in the red on Friday on profit-booking in technology stocks and lack of interest in other pivotals at current levels. The trading volume on the F&O segment remained lackluster as the Nifty provided little scope for trading since it moved in a tight range of 20-30 points on Friday.
Business Standard / New Delhi November 17, 2009, 0:10 IST
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.
Two senior officials of AES Corporation are likely to visit Orissa on 17 November to hold discussion with the government officials pertaining to the proposed expansion of the unit-3 & 4 (660Mw x 2) of the IB Thermal Power Station of the Orissa Power Generation Corporation (OPGC).
The Orissa cabinet today approved a proposal of the Orissa Power Generation Corporation (OPGC), a joint venture between the Orissa government and the AES, to adopt super critical technology with a configuration of 2X260 Mw and sharing of power for the proposed expansion of unit 3 and unit 4 of the Ib Thermal Power Station of OPGC.
The stock ended flat at Rs 410 and clocked volumes of 201,186 shares at the counter on the BSE. __________________________________
Nobel Laureates / October 11, 2009, 0:06 IST
After a below par performance in the last two weeks, analysts are predicting another month of volatility for the Indian bourses, despite their firm belief in its long-term potential.
Maruti Suzuki, the country’s largest manufacturer of cars, is also quite cash-healthy, markedly so in comparison to many of its competitors.
Global satellite navigation device maker Garmin today said it has entered into a tie-up with Reliance Retail to launch its car navigation products in India.
As part of strengthening e-governance initiative, Karnataka government today launched the Karnataka State Wide Area Network (KSWAN) that seeks to establish a state information highway connecting its 2300 offices across the state.
The petition filed by Nandini Raju, wife of Satyam Computer Services’ jailed founder, B Ramalinga Raju, seeking the court’s permission for her to bear his medical treatment expenses, has been posted for tomorrow.
Inflation more than trebled to 4.78 per cent during November on account of rising prices of food items like potato, sugar and pulses, and may prompt the Reserve Bank to squeeze money supply to tame price rise.
Sunil Jain / New Delhi October 30, 2009, 0:38 IST
Business Standard / New Delhi December 29, 2009, 0:11 IST
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.
Amid criticism from some quarters for the Copenhagen accord on climate change, Prime Minister Manmohan Singh today advocated the need for an “informed and rational” debate on solutions that suit India.
With the PE ratio up three times since November last year, valuations are far from cheap.
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.
These phones and laptops will make you look like a million bucks.
Mukesh Ambani, India’s richest man and chairman of the country’s largest private sector company, Reliance Industries, has been ranked the fifth-best CEO in the world by Harvard Business Review.
National Bank for Agriculture and Rural Development (NABARD) has sanctioned Rs 793.85 crore to implement various projects in Tamil Nadu.
Mukesh Ambani, who heads India"s most valuable company Reliance Industries (RIL), has been ranked among top five best performing CEOs in the world by the prestigious Harvard Business Review.
Videocon Industries today said it will consider selling equity shares on right basis and has called a board meeting on October 31 to discuss the issue.
Nuclear Power Corporation of India (NPCIL) today said French power equipment maker Alstom will be the third partner and hold 33.3 per cent stake in the proposed joint venture with Bharat Heavy Electricals (BHEL).
Citigroup Inc and Bank of America Corp paid top executives an average of $18.2 million each last year as the banks accepted $90 billion of bailout funds, records from Treasury Department paymaster Kenneth Feinberg show. Citigroup paid $390.2 million to 21 people, an average of $18.6 million each, the records released on October 22 show.
The Vedanta Group has asked the Orissa government to restrict the entry of foreign non-government organisations (NGOs) in the area where it proposes to mine bauxite, as part of its $8-billion project in the state, saying they were instigating locals. “These NGOs comprising Survival International and Action Aid are instigating locals to go to the hill top, where we have proposed to mine bauxite, and set up houses. The Orissa government has already said there is no tribal population in our proposed mining site. Such efforts by these NGOs are aimed at harming the project and investments in the state; their movement has to be regulated,” Vedanta Aluminium Ltd COO Mukesh Kumar told PTI.
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.
Pharma major, Wanbury"s net profit has grown 5.62 times at Rs 9.48 crore in Q1FY10 as against Rs 1.43 crore in the year-ago period.
Indian consumer durables major Videocon Industries has decided to buy Finnish company Elcoteq, engaged in contract manufacturing of mobile phones and other electronic items, in a deal estimated at around $73 million.
HCL Technologies today said it has bagged a five-year deal from US-based flavoured beverage producer Dr Pepper Snapple Group.
Insurance companies could invest up to Rs 40,000 crore in the stock markets during the fourth quarter of the current financial year due to better sale of unit-linked plans (Ulips) in the recent month.
Anil Ambani group firm Reliance Power (R-Power) today claimed that the Allahabad High Court has not set aside land acquisition for its proposed gas-fired power plant at Dadri in Uttar Pradesh.
Financial services major Morgan Stanley has appointed Merrill Lynch President and Chief Operating Officer Gregory J Fleming to head its investment management group.
The Comptroller and Auditor General has termed as "unwise" the crores of rupees spent on the upgradation and extension of the airstrip in Safai, the native village of Mulayam Singh Yadav, during his tenure as Chief Minister of Uttar Pradesh.
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.