Public Company
Amidst reports that he may join NCP, Amar Singh, who has resigned from all SP posts, today came out in defence of Agriculture Minister Sharad Pawar, saying the issue of price rise was the collective responsibility of the Cabinet including Prime Minister Manmohan Singh.
A K Bhattacharya / New Delhi December 22, 2009, 0:02 IST
The Chennai port-Ennore road connectivity project has hit a roadblock with the National Highway Authority of India (NHAI) sending feelers to the Chennai Port Trust (ChPT) that “it would wind up the project” if the latter fails to pay its share of Rs 300 crore for the proposed project. NHAI has given a deadline till October 20, 2009, to the latter to release the amount, according to sources.
Most Asian stocks fell, sending the MSCI Asia Pacific Index to its longest losing streak since December 2007, as a stronger yen threatened the value of Japanese exports and Australian unemployment rose.
Signs of a deepening recession in the US, Japan and Europe have prompted investors to pull money out of developed-market stocks.
Ashish Sinha / New Delhi August 25, 2009, 0:40 IST
Financial services firm Edelweiss Capital today announced that it had entered into a joint venture (JV) agreement with Japanese insurer Tokio Marine Holdings for a foray into life insurance.
After the Insurance Regulatory Development Authority (Irda) capped charges on unit-linked insurance plans (Ulip), insurers have started trying their hand at low-cost products. Aegon Religare, for example, is advertising its Invest Maximiser Plan as ‘Sabse Sasta Ulip’. And, Reliance Life Insurance has come up with Premier Life.
From September 1, 2009, the Monopolies and Restrictive Trade Practices (MRTP) Act 1969 has been laid to rest, and the Commission will not accept fresh filings. By now all readers are aware of the roadblocks involved, being various court cases, with challenges to the appointment of the chairperson, the status of pending cases and existing employees. Amendments to the Competition Act 2002, and its slow passage in the Houses of Parliament delayed the introduction of an effective anti trust law, a vital element in an open economy which aspires to be a global major.
JSW Energy has provided the much-needed lifeline for the group’s Rs 35,000 crore project in Bengal, by taking up the power project .
With JSW Bengal Steel (JSWBSL) failing to raise debt for its integrated steel, power and cement plant in Salboni due to the global financial crunch, group company JSW Energy will go public to raise funds for the power plant.
JSW Energy will set up 10 power plants with a capacity of 1,350 mega watt (Mw) in all, in Rajasthan"s Barmer district.
In a country where data and information flow is like water on the Moon, bankers who are smart often take advantage of a statistical lie. “When I was a general manager in the planning department, I used to say come to me, I will give all the information.
Construction work on complexes to provide rail users with facilities like shopping and food courts at 66 railway stations will begin in a month, Railway Minister Mamata Banerjee said today.
With Indian Railways having developed two automobile wagon rakes (trains), with a holding capacity of almost 550 cars each for transport of vehicles from sites closer to their manufacturing bases to their final destination, auto manufacturers say they look forward to increasingly using this form of transport for their products.
Two human rights activists have been arrested here by the West Bengal Crime Investigation Department for their alleged links with Maoists and PCPA top brass in Lalgarh. Gana Pratirodh Committee secretary Raja Sarkhel and state secretary of the same human rights organisation Prasun Chatterjee were picked up from their residence in Jadavpur in the southern part of the city last night.
With an aim provide innovative products, services and solutions to the rural poor, Villgro, a social enterprise incubator is set to launch "Wantrapreneur 09" Business Plan Competition, which challenges entrepreneurs to come out with innovative technology, solutions (products / services) with direct application at the rural level.
In a well-researched book, Shoma Munshi argues that the bahu-soaps, far from being regressive, had strong women protagonists.
Stimulus exit looms as Pranab waits for third quarter.
Rajya Sabha was today adjourned for 10 minutes following a clash between ruling and opposition members over development of Bundelkhand region.
As implications of Home Minister P Chidambaram’s announcement that India’s internal security would be overhauled, beginning with the creation of a new National Counter Terrorism Centre (NCTC) sank in, the intelligence community was divided on how effective the overhaul — and NCTC itself — would be.
Jindal Saw"s board has announced that it would split its equity shares, with a face value of Rs 10 each, into five equity shares of Rs 2 each.
Road Transport and Highways Minister Kamal Nath said here that India had increased its per-day construction of roads to 9 km and the target of developing 20 km daily would be accomplished by April.“We have reached 9 km per day of road construction and will hit our target of 20 km a day by April,” Nath, who was here to hold talks with the Malaysian government to invite them to enter the highway construction sector in India, said.Thirty-five Malaysian companies are already involved with various infrastructure projects in India.To construct 20 km of raods a day or 7,000 km a year, there had to be 20,000 km of work in progress, he said.
Road Transport and Highways Minister Kamal Nath said here that India has achieved construction of nine-km roads per day and the target of developing 20-km daily would be accomplished by this April.
A report on expulsion of molestation victim Ruchika Girhotra from the Sacred Heart School here will be ready by tomorrow, an official today said.
India’s oldest exchange, the Bombay Stock Exchange (BSE), has approached the Securities and Exchange Board of India (Sebi) for listing its shares. Sources said the listing would be through an initial public offering. This will make BSE India’s first listed exchange.
Jharkhand Governor K Sankaranarayanan today asked JMM chief Shibu Soren to produce a list of MLAs supporting him as BJP gave enough indications of backing his claim to form a government.
Newly elected BJP MLAs met today to decide on supporting JMM chief Shibu Soren as the new Chief Minister.
The Trinamool Congress got a letter from the parliamentary affairs ministry asking it to nominate a party MP for an overseas tour. Railway Minister and Trinamool chief Mamata Banerjee took less than a second to decide and nominated singer-turned-politician Kabir Suman.
The warning comes at a time when exports from two of the company’s manufacturing sites in India continue to be suspended by the US regulator.
Shiv Sena supremo Bal Thackeray is back, in an implicit admission that he erred in his political judgement. A few years ago, Thackeray had annointed his son Uddhav as the party’s executive president bypassing his cousin Raj, who went on to form the Maharashtra Navnirman Sena (MNS). Incidentally, the MNS spoiled the prospects of the Shiv Sena in the recent Maharashtra Assembly elections.
The life insurance industry has paid around Rs 1,717 crore as death benefit to policy holders between April and June 2009 compared with Rs 1,422 crore during the corresponding quarter last year (an increase of 20.74 per cent), according to Life Insurance Council, the body governing life insurance companies in India.
Talks for acquisition of ICICI Bank Ltd’s controlling 30 per cent stake in 3i Infotech Ltd have veered to a likely price range of Rs 110-120 a share, sources told NewsWire18.
Gujarat Chief Minister Narendra Modi has invited former President APJ Abdul Kalam to act as motivational speaker for his cabinet members at this year"s "Chintan Shivir" organised in the wilderness of the Kutch desert.
Former Prime Minister and BJP patriarch Atal Bihari Vajpayee turned 86 today with several leaders, including Prime Minister Manmohan Singh, turning up at his residence here to greet him.
For journalists, pundits and comedians, the end of the year provides an opportunity to look back, fantasise forward and let the creative juices flow.
As corruption cases against members of the judiciary make the headlines, a proposed bill on judicial accountability has suggested that the declaration of assets made by judges will be treated as a "legal document" and can be used to investigate complaints against them.
Australian authorities today "unreservedly" condemned the killing of an Indian youth here calling his stabbing a heinous crime even as police claimed there was no evidence to suggest that it was a racial attack.
Business Standard / New Delhi September 02, 2009, 0:09 IST
Nobel Laureates / October 11, 2009, 0:06 IST
External Affairs Minister S M Krishna today ticked off his junior minister Shashi Tharoor for publicly questioning new visa guidelines, saying if he had any "perceptions", those should be discussed within the "four walls" of the government.
India today said it was hoping for an outcome with "substantive and enforceable commitments" at the Copenhagen climate meet which are "equitable and supportive" of economic growth in developing nations.
With the new Railway time table coming into effect from November 1 this year, the timings of 19 trains originating in the jurisdiction of East Coast Railway (ECoR) would be changed. The trains whose timings would be changed include the Puri-Tirupati express, Puri-Howrah Jagannath express, Puri-Howrah weekly express, Puri-Howrah Garib Rath express, Bhubaneswar-Puducherry express, Bhubaneswar-Chennai express, Bhubaneswar-Visakhapatnam Intercity express, and the Visakhapatnam-Korba express among others.
A year or two ago Gore Vidal was expected at the Jaipur Literature Festival, and was scheduled to make one appearance in Delhi. I was all ready to arrive early and stick my hand out to have it shaken by the master. There must have been many others with similar aspirations. But in the event Gore cancelled his trip to India.
It could be one of those years when exposure in commodity futures, along with equities could be a good investment strategy.
Shankar Acharya / New Delhi December 10, 2009, 0:49 IST
Emerging-market telecoms: Emerging-market telecoms are in hot demand – so much so that the valuation attributed to Kuwait-based operator Zain Telecom by a consortium of Asian investors seems, well, zany.
Gold futures today rose by 0.29% on sustained buying by traders and speculators on the back of a firming global trend.
The country"s leading automobile firm, Tata Motors, today said it has increased prices of some of its commercial vehicles by around 1 per cent on account of rising input costs and addition of new features.
Gains in global markets and foreign buying helped Sensex move past 17,000 mark after 15 months. In a truncated week, BSE Sensex rose 440 points or 2.6 per cent to 17,135 and Nifty rose 125 points or 2.5 per cent to 5,083. Broader indices performed better than BSE Midcap and BSE Smallcap indices, each delivering 1.2 per cent and 1.8 per cent, respectively. The market was buoyed by IMF"s statement that India’s GDP would grow at 6.4 per cent for CY09 and that the world economy would contract less than expected.
Business Standard / New Delhi October 05, 2009, 0:32 IST
Reflecting a strained labour market even as signs of economic recovery are rising, the unemployment rate in the OECD region rose to 8.6 per cent in August.
The unemployment rate in the UK shot up to a 13-year high of 7.8 per cent for April-June 2009, as companies continued to slash jobs to bring down cost.
Speciality chemicals maker SRF today said its net profit jumped two folds to Rs 92.57 crore for the quarter ended June 30, over the same period last year.
SRF, a diversified company active in textiles, refrigerant gases, packing films and pharmaceutical intermediates, has said that it will consider a proposal to buy back the fully paid equity shares of the company in the forthcoming board meeting next week.
Global pharma major Pfizer is to source source 40 off-patent (generic) cancer care products from Bangalore-based Strides Arcolab and sell the products in the United States.
Kolkata-based Pawan Kumar Ruia Group, which owns Dunlop India, today said that it had acquired a 60 per cent stake in Germany"s Henniges Automotive Grefrath GmbH, a supplier of automotive sealing systems to leading carmakers, for an undisclosed sum.
The direct selling industry in India has pitched for direct selling laws in India on the lines of the legislation prevalent in countries like USA and UK for the benefit of the industry as well as the consumers.
Food inflation softened to 18.65 per cent for the week ended December 12, though essential items like potato and pulses continued to remain expensive.
The Prime Minister"s Economic Advisory Council Chairman C Rangarajan today suggested that the Reserve Bank of India (RBI) could reduce money supply and raise interest rates to tame the rising prices of food articles.
Sunil Jain / New Delhi January 04, 2010, 0:20 IST
Dilip Kumar Jha / Mmbai August 11, 2009, 0:24 IST
The government is committed to financial sector innovations and reforms, a senior government official said.
India is unlikely to achieve the $200 billion export target this fiscal due to the continuing global financial crisis, the Rajya Sabha was informed today.
Cotton prices across the country have seen an unabated rally in the last one and a half months due to international and domestic buying as well as tight supply in the global market. The prices of various benchmark varieties have touched peak levels of the season.
Sanjay Jog / Mumbai December 13, 2009, 0:16 IST
Encouraged by the outcome of earlier initiatives, the Centre is preparing a roadmap to take the disinvestment process forward over the next two years.
The government today approved six proposals for setting up of special economic zones (SEZs), including that of gems and jewellery SEZ by Delhi State Industrial and Infrastructure Development Corporation.
Construction major Gammon India has bagged a $ 22.5 million contract for a 220 KV transmission line turnkey project in Algeria. The contract was awarded to company"s wholly-owned subsidiary SAE Powerlines S.r.I, Italy.
Inflation proved to be the market"s Archilles heel this week. The Sensex traded in a narrow range of 582 points before ending weaker by 399 points at 16,719 and the Nifty closed at 4987, lower by 129 points. Dalal Street closed below the dotted line on four out of the five trading sessions.
Vedanta Aluminium Ltd. (VAL), which has set up a 0.5 million tonne aluminium smelter at Jharsuguda in Orissa, is forced to purchase alumina from traders importing the material from countries like Australia to keep its smelter in operation.
Advisory firm calls for vote against Taro board’s proposals
I read Catcher in the Rye again after 21 years… I wanted to understand the nature of JD Salinger’s hold on the teenager who lives on in my middle-aged heart… I think people go back to prison again and again because they find out how easy it is to live behind walls. If you mind your own business, and fight just enough to establish your own space, people don’t bother you much. There’s plenty of time to read and brood; all in all, not a bad place for ducks to spend the winter.”
The government expenditure on setting up 2,500 model elementary schools through public private partnership (PPP) during the Eleventh Plan period (2007-2012) would be less than Rs 500 crore, even as the allocation for it was originally planned to be Rs 1,250 crore.
Want Gandhi to stop the process of transfer of stake, divestment.
Garment and apparel retail chain Shoppers Stop today said it has obtained shareholders approval to issue 40 lakh shares by way of qualified institutional placement to garner resources for its expansion plans.
The Supreme Court today asked the Madras High Court to first hear on Thursday the amalgamation plea of cash-strapped retail chain Subhiksha Trading Services with its subsidiary Blue Green Construction and Investments (BGCIL).
Several mines exploded along the Line of Control (LoC) when a fire broke out in the area, defence officials said today.
With fissures widening between the warring factions in the BJP in Karnataka the party’s top leadership summoned them to New Delhi after rebels remained firm on their demand for change in the leadership of chief minister B S Yeddyurappa.
The Punjab region registered its first swine flu death today after a 12-year-old school girl from Ambala fell victim to the virus.
Drug manufacturer Aurobindo Pharma today said it will acquire Trident Life Sciences (TLSL) for an undisclosed amount.
Pharma majors Ranbaxy and Aurobindo Pharma today said that they have received final approval from the US Food and Drug Administration(USFDA) to manufacture and market Sumatripan Succinate.
Glaxo SmithKline Pharmaceutical today said it is looking at launching its patented medicine promecta, used in treatment of depleted platelet count, in India by this year-end or early next year.
The natural rubber (NR) market, which today quoted Rs 102 a kg for RSS-4 grade, is poised for further appreciation in prices as domestic production is projected to be lower this year. At the current level of production, the annual output is expected to fall by 10 per cent. The trend during April-July indicates that the overall production is likely to be lower this time which clearly favours the appreciation in prices.
An exclusive supplier of raw materials and technological advanced machinery for smart card manufacturing, Maze Cards India Pvt. Ltd. plans to now supply modules to Gujarat government for driving license smart cards. The company is in talks with the Gujarat government for supply of modules or chips used in the driving license smart cards.
KEC International, a part of the Rs 15,000 crore RPG group has won orders in Algeria and Abu Dhabi worth Rs 474 crore and Rs 76 crore respectively. KEC will undertake five turn key projects worth Rs 474 crore for CEEG spa in Algeria. The total length of these five projects is 858 km and completion period ranges from 12 to 18 months.
Future Brands, a subsidiary of the Kishore Biyani-promoted Future Group, will focus on the FMCG segment as part of a plan to increase the share of private labels in the company"s retail formats.
Indian stocks trading on the American bourses $5.33 billion to their cumulative market capitalisation, with the IT bellwether Infosys Technologies and private sector lender ICICI Bank accounting nearly half of the gain.
Famed British toy retailer Hamleys will make its India debut with a 22,000-square-feet store at the popular Phoenix Mills in Mumbai, by February next year.
Indian conglomerate Tata Group has rejected a 10 million pound British government loan, which was supposed to be used for developing an electric version of one of its existing models, says a media report.
Indian companies to feel added pressure.
Shopper’s Stop, the retail chain major, has seen a marginal dip in the sales of its private labels this year.
For the Americans (and some Europeans) it’s “that pesky section”. And the US government is throwing its weight behind an industry campaign to discredit this section if not get it removed from India’s Patent Act. Yes, of course, it is Section 3(d) that is under attack from big pharma which has lost no opportunity in pointing out that this law will stifle the growth of India’s own drug companies and also choke off foreign investment in the sector. In recent weeks, this campaign has picked up in tempo both here and abroad.
India has slipped behind in this year’s onion export market to its nearest competitor, Pakistan, due to the latter’s low pricing of the politically sensitive commodity.
Oil and Natural Gas Corporation (ONGC) has been forced to exit from a gas block in Trinidad and Tobago after its partner Lakshmi N Mittal walked out of the project.
Pharma major Wockhardt today said it has completed the sell-off process of its animal health division to France-based Vetoquinol SA.
Markets surged today, boosted by government"s big bang tax reform plans and positive cues from the global markets. The government proposed to bring down corporate tax to 25%, and abolish Securities Transaction Tax (STT). Removing levy on the securities is likely to lead to higher volumes as the cost of transactions goes down.
Glenmark Generics Ltd, a subsidiary of Glenmark Pharmaceuticals Ltd, has confirmed that Smithkline Beecham Corporation (d/b/a) Glaxosmithkline (GSK) filed a patent infringement lawsuit on their US subsidiary, Glenmark Generics Inc, USA (Glenmark) in the US District Court for the District of Delaware in connection with the Abbreviated New Drug Application (ANDA) filing for Atovaquone and Proguanil hydrochloride 250mg/ 100mg tablets.
Drug maker Glenmark Pharmaceuticals today said it was facing a lawsuit in a US District Court for a patent infringement case of an anti-malaria product.
A solution to the Telangana issue could be found only after wider consultations among all political parties in Andhra Pradesh and also at the national level, Union Law Minister M Veerappa Moily said today.
MLAs of Punjab’s ruling Akali Dal and Opposition Congress on Tuesday entered into a scuffle in the Assembly over the recent violence in Ludhiana. The scuffle started when Congress legislators moved towards deputy chief minister and home minister Sukhbir Singh Badal when he was replying to a call-attention motion on the state’s law and order situation.
A meeting of officials of the Orissa government, ArcelorMittal and Posco will be held this week to clear the hurdles delaying investment of around Rs one lakh crore in the state by the two global steel giants.
British state-controlled bank Lloyds Banking Group (LBG) said today it will axe nearly 400 jobs at a call centre in the south of England.
The Union government has set up a non-profit trust which would serve as a single-window platform to implement projects funded by overseas Indians in the social sector.
Mergers and acquisitions (M&As) and private equity (PE) investments in India dipped both in value and volume terms in 2009 due to the global slowdown. This, along with the sharp run-up in the equities in the second half of the year and too much liquidity globally, has made deal closure an arduous task for PE players. Despite this, the players are hopeful that the investment market will improve in 2010. The value of deals (both PE and M&As) announced in calendar year 2009 (January to December 13, 2009) was $21.20 billion as against $41.54 billion, a decline of nearly 49 per cent. During 2007, the value was $70.14 billion, according to data compiled by Grant Thornton.
The Steel Ministry today said it will stick to its earlier proposal of divesting up to 10 per cent of the government"s equity in iron ore miner NMDC even as the finance ministry has proposed 15 per cent sale of Centre"s holding in the navratna company.
Broadcasting regulator Telecommunications Regulatory Authority of India (Trai) today sought views of stakeholders in the sector on issues such as raising limits on foreign direct investment (FDI) and on whether there is need for modifications in uplinking and downlinking guidelines for television channels.
In the backdrop of the scarcity of sugarcane this season, the sugar mills in Uttar Pradesh are keeping the farmers in good humour by collectively making advance payment of nearly Rs 770 crore.
Special Economic Zones are nothing but special exemption zones and there is no reason to exempt these from all law. Hence, scrap these, is the recommendation of the Committee on Land Reforms and Agrarian Relations set up by the Union government to advise it on issues ranging from land reforms and land acquisition to measures to stop conversion of farm lands.
The Punjab government today said it will set up a fund of Rs 150 crore to upgrade industrial infrastructure in a bid to give a boost to the state industry.
India needs to import another 2 million tonnes (MT) of sugar in 2009-10 season to meet the domestic demand, an industry body said on Monday.
The Mukesh Ambani-led Reliance Industries (RIL) is not responding positively in connection with the contract awarded to it for revival of the closed sugar mill at Motipur in Bihar"s Muzaffapur district, according to state Industry minister Gautam Singh.
The Orissa government has granted Prospecting License (PL) in favour of Bhushan Steel Ltd (BSL), over an area of 280.755 hectares spread over Marsuan,Tiriba and Narasinghapur villages in Keonjhar district. This follows the Centre’s prior approval to the proposal.
Strong brands, value for money strategy and focus on new markets and products will help Godrej Consumer sustain high growth rates.
Exit strategy for stimulus after Q3/Q4 assessment
Sanjaya Baru / New Delhi October 21, 2009, 0:16 IST
You can purchase property Directly or go for Sect0ral stock picks and PMS.
Plan panel aims at making data accessible in analytical format
The Union Ministry of Home affairs (MHA) has taken a tough stand on the Indian Premier League (IPL) issue and told its organiser — the Board of Control for Cricket in India (BCCI) — that forces could not be diverted from election-related duties for this cricketing extravaganza.
The telecom department has written to the Cabinet Secretary seeking expeditious vacation of airwaves held by the defence forces so that the exact availability of 3G spectrum is known before the auction scheduled for December 7 takes place.
The government is planning to comprehensively revise tax treaties with as many as 25 nations, including Switzerland and Mauritius, and re-negotiate with 51 others, to trace black money.
Homi Sethna, the guiding force behind India"s first nuclear test in 1974, today waded into the 1998 Pokhran row when he slammed former President A P J Abdul Kalam suggesting he was no qualified authority to rubbish former DRDO scientist K Santhanam"s claim that the explosion was not a full success.
Pharma firm Cipla today said it is looking to export Antiflu, the drug used in the treatment of influenza AH1N1 (swine flu) virus, to US markets.
Despite recession, India emerged as the second largest investor in the UK in 2008, after the United States, according to a new study that sees Mumbai and Bangalore as the next top centres of global investment.
It was another lacklustre day of trade. The markets oscillated between either side of the dotted line before ending virtually unchanged. The Sensex closed at 16,894,lower by 18 points and the Nifty ended flat at 5041. Realty and energy stocks were in the doldrums, while consumer durables and pharma stocks looked up.
The Planning Commission today said food inflation will come down next month from a more than a decade"s high of around 20 per cent, as apprehensions about adverse effect of drought were easing.
No one can repair the BJP, former party ideologue K N Govindacharya tells Sreelatha Menon
Reserve Bank of India (RBI) would not just look at inflation to decide its policy, but also growth recovery, credit, and money supply expansion, K C Chakrabarty, deputy governor, said today.
Rajat Roy / New Delhi November 22, 2009, 0:36 IST
Business Standard / New Delhi October 15, 2009, 0:45 IST
Pakistan"s intelligence agency ISI was behind the attack on the Indian embassy in Kabul which killed 17 people and wounded more than 60 others, Afghan envoy to the US has claimed.
The fragmented Rs 30,000-crore stainless steel utensil industry will, for the first time in India, get a quality benchmark soon to manufacture food- grade kitchenwares for domestic supply and exports.
Zee Entertainment is undoubtedly in a revamp mood. In the last two months, the company has made moves towards consolidating the group’s general entertainment channels (GEC) under one roof. Under the latest move, the company aims to merge its 50.18 per cent subsidiary, ETC Network, with itself. Here, ETC Network’s broadcasting namely, ETC Music (a Hindi music channel) and ETC Punjabi (a regional entertainment channel), and education businesses will be merged with Zee. Thereafter, the education business will be demerged into a different entity , Zee Learn.
Bhupesh Bhandari / New Delhi November 17, 2009, 0:13 IST
Kailash Nautiyal / January 2, 2010, 0:45 IST
Barack Obama / December 6, 2009, 0:20 IST
Global consulting firm Deloitte today said sectors like healthcare and education are likely to see an unprecedented growth going forward, riding on planned rise in government spendings for the areas.
IT education provider NIIT today said it has entered into a strategic alliance with business software provider SAP India for offering software training programmes in the country.
As the GJM announced a fresh indefinite strike in government offices from December 28 in Darjeeling, Union Finance Minister Pranab Mukherjee expressed hope that Gorkhaland issue would be solved through dialogue.
US markets ended flat on Wednesday. The Dow ended at 10,574. The Nasdaq slipped eight points to 2,301.
Coffee exports globally have fallen 7.8 per cent to 13.4 million bags (1 bag= 60 kg) in the first two months of the 2009-10 crop year, whereas those from India have risen over 20 per cent to 516,000 bags in the same period, the International Coffee Organisation (ICO) has said.The coffee year runs from October to September.
The long suspense over control of the Tamilnad Mercantile Bank (TMB) ended on Thursday, with the Sivanthi Adityan-led group filling nine of the 10 elected posts on the 13-member board of directors.
7Seas Technologies Limited, a Hyderabad-basd game development company, has collaborated with Intel to reach out to new gaming customers. Through the tie up, 7Seas" multi-genre PC racing game ‘Kraze’ will be made available on Intel"s Business Exchange (BX), an online technology marketplace, from next month.
Domestic passenger car sales jumped by 40.27 per cent to 1,15,268 units in December last year.
Rapid and volatile capital inflows or outflows could pose significant policy challenges, potentially leading to exchange rate overshooting, asset price volatility and financial instability, Reserve Bank of India (RBI) Deputy Governor Shyamala Gopinath said in Mumbai today.
The Central Electricity Regulatory Commission (CERC), the apex power sector regulator, is reviewing the 4 paise per unit cap on power traders’ margin to assess if it is impacting the viability of power trading business in India.
Company files tariff proposal for 2010-11 with GERC.
Lanco group, through its newly formed special purpose vehicle Lanco Solar is planning to invest close to Rs 4,000 crore for setting up solar projects in the state.
Subir Roy / New Delhi January 8, 2010, 0:42 IST
The two firms have been collaborating for several years.
Inviting American companies to invest in India’s infrastructure and defence industries, through the public-private-partnership route, Prime Minister Manmohan Singh today said India would bridge a higher current account deficit through increased foreign direct investment.
Tata Steel would start work on its Kalinganar plant in Orissa from December. The company had 3,200 acres in possession but could not start work as 20 per cent of the project-affected persons were yet to be relocated, according to Managing Director H M Nerurkar.
JSW Steel today said its crude steel production more than doubled to 4.80 lakh tonnes in November.
The government today said it is considering a 20 per cent stake sale in steel major SAIL, proceeds of which would partly fund the company"s Rs 70,000-crore expansion projects.
Private equity investment in the country"s telecom sector is likely to surge next year with the introduction of 3G services and rural penetration by telcos, experts say.
B K Modi-promoted Spice Group and British Virgin Mobile have bid for MTNL"s franchise deals to offer 3G services in Mumbai and Delhi.
State run Mahanagar Telephone Nigam (MTNL) has taken to the franchise route to sell its 3G services in Delhi and Mumbai and has floated a global Expression of Interest (EoI) for 3G Services Franchisee.
Three states, Andhra Pradesh, Rajasthan and West Bengal, don’t have governors. ND Tiwari resigned and vacated the Raj Bhavan in Hyderabad recently. Gopal Krishna Gandhi quit the Raj Bhavan in Kolkata and Jaipur is vacant after the death of former foreign secretary SK Singh. The result is that various people in the race are making rounds of politicians they think will give them a leg-up to the post. Finance Minister Pranab Mukherjee’s residence is obviously one pilgrimage centre. Watch this space for more on this front.
Analysts, economists plan to raise their IIP forecasts
Manufacturing and automobile solutions provider KPIT Cummins Infosystems remains hopeful of eventually crossing the $1-billion revenue mark. However, the global manufacturing and automobile industry, which accounts for a majority of its top line, is currently facing turbulent times, affecting the company"s revenues. In a chat with KAUSTUBH KULKARNI, the company"s Chairman, RAVI PANDIT, gives his view on the road ahead. Excerpts:
The government is likely to clear tomorrow a proposal suggesting release of inflation data on monthly basis and not every week for bulk of the items tracked by the Wholesale Price Index (WPI).
Planning Commission Deputy Chairman Montek Singh Ahluwalia today expressed confidence that in the years to come India could emerge as the fastest growing economy in the world, beating China as the nation has yet to achieve its full growth potential.
New date for introduction of tax likely today.
A high-powered group of state finance ministers today indicated that the proposed Goods and Services Tax (GST), which will consolidate indirect taxes, may not be introduced as scheduled from April 1, 2010.
The Polo produced at the Volkswagen plant in Chakan in Maharashtra may be good enough for the Indian market, but made in India is not good enough for Volkswagen. At the Polo’s launch in the auto fair in the Capital, most things in the company’s stall, right down to the chairs, had been imported.
Pollution level in 10 major industrial hubs in the country, including some in Gujarat and Uttar Pradesh has reached to a "very alarmingly" level, according to a study.
The international climate change talks, which started in Copenhagen today, will see a 35-member official delegation from India. The attempt will be to negotiate a new global climate treaty to replace or extend the 1997 Kyoto Protocol beyond 2012.
Ten TDP MLAs today decided to resign in protest against the Centre"s decision that appeared to put the Telanagana issue on the backburner even as the main opposition party extended support to the two-day bandh called in the region.
The bank extends 8% home loan scheme till March.
The Rs 950-crore second phase expansion plan of the Gopalpur port is likely to be delayed by a year as the project is yet to get the environmental clearance from the Union Ministry of Environment and Forest (MoEF).
Obama/Peace Prize: Ask a ten-year-old to make just one wish come true and almost invariably the child will hope for peace on earth. That’s wonderful – but not worthy of a Nobel Prize. The Norwegian Nobel Committee seems to think differently. It has awarded its prestigious Peace Prize to Barack Obama.
State-run BHEL today said it has bagged another Rs 640-crore order from Adhunik Power and Natural Resources for supplying equipment for the company"s thermal power project in Jharkhand.
Andhra Pradesh Chief Minister K Rosaiah today said that there was no time-frame for moving a resolution in the State Assembly on the Telangana issue.
Shipping Corporation of India (SCI) has entered into an agreement with Geneva-based Mediterranean Shipping Company (MSC) to run its European service.
Pharma firm Lupin today said it will borrow up to Rs 500 crore from corporate bodies and various financial institutions.
The Indian Auto Gas company, engaged in distributing LPG for automobiles, plans to set up 1,000 gas filling stations across the country over a three-year period at a cost of Rs 700 crore, a top company official said.
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.
Steel manufacturer, Uttam Galva Steels today said it has appointed Swarna Prabha Sukumar as a Nominee Director in place of S R Krishnaswamy with effect from September 22.
With the launch of utility vehicle Grande MK II, an upgraded version of its premium Sumo Grande, Tata Motors is looking to increase its market share by 2-3 per cent in the utility segment. Utility segment at present constitutes 17-18 per cent of the total car market in the country.
Industrialisation, technology, urban need make commercial water supply a growing opportunity.
Drug major Lupin and Swiss Garnier Life Science moved the Delhi High Court on Monday, challenging the government’s decision to fix the price of their anti-asthma drug Doxyflline. In their petition, Lupin and Garnier Life Science challenged the National Pharmaceutical Pricing Authority circular, in which it has put its two medicines under the first schedule of the Drug Price Control Order of 1995.
Indian Oil Corporation Ltd (IOCL), which is setting up a 15 million tonne per annum refinery at Paradeep, has so far invested Rs 2200 crore in the project.
Auto major Mahindra & Mahindra today reported 36.75 per cent growth in domestic sales of its utility vehicles (UV) in September at 21,961 units against 16,059 units during the same month last year.