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Bhupesh Bhandari / New Delhi November 19, 2009, 0:17 IST
The Indian Institutes of Management (IIMs) have finally broken their silence. Three days after the computer-based Common Admission Test (CAT) came under fire for its technical glitches, the IIMs and Prometric and NIIT, the companies have revealed that 10-11 per cent of students have been affected so far. Citing a virus "Conflicker" being responsible for glitches in the computer-based test at some centres, they said necessary steps are being taken to repair the damage.
Experts say problem easily avoidable, HRD ministry orders inquiry.
Ready to assist in annuity-based BOT projects.
Mihir Mishra / New Delhi November 11, 2009, 0:30 IST
Business Standard / New Delhi November 1, 2009, 0:31 IST
The World Trade Organization will remain in Geneva, Switzerland. That is what the voters of this city decided today in a special referendum.
May lose high-revenue-yielding subscribers; but users to benefit.
A meeting of the Cabinet Committee on Political Affairs (CCPA) is scheduled this evening to make an apparent bid to find a way out in the wake of the crisis triggered by the decision to carve out a separate Telangana.
The Sensex finally ended (provisional) with a loss of 46 points at 16,867. The NSE Nifty settled at 5,036, down six points.
Voltas takes the social cause route to promote its air-conditioners.,
Leading global premium spirit manufacturer, Bacardi Ltd, today launched Bacardi "O", an orange-flavoured rum in the state and plans to focus on Tier II and III markets in the country.
In the backdrop of a spate of racial attacks in Australia, Down Under could witness about a 50 per cent drop in Indian students in the next session, according to an international educational recruiter.
The maiden attempt by the Indian Institutes of Management (IIMs) to make aspirants take the Common Admission Test (CAT) on computers ran into technical snags on the very first day when some servers in 11-odd centers crashed. While there was no official confirmation about the number of affected students, test-preparation institutes estimated that over 300 students could not sit for the examination.
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).
Brewing major SABMiller today said it has moved the Andhra Pradesh High Court seeking its intervention on state beverage corporation"s decision not to procure to company"s beer.
It surely took a long time coming, but now that it has, it’s got top clearance from us. Ladies and gentlemen, say hello to our Bike Of The Year 2010 — the Kawasaki Ninja 250R! While there was an impressive list of opponents to the Ninja, none of them could handle going toe-to-toe with the Japanese warrior. And it wasn’t just its bright green colour either. But more on the Ninja later; let’s see who it was up against, shall we?
A new “old” Royal Enfield is born. We ride the Enfield Classic.
India does not endorse efforts to dilute expectations from the Copenhagen climate summit and is pushing for a "legally binding substantive" outcome, a matter that will be discussed during Prime Minister Manmohan Singh talks with US President Barack Obama.
Terror threat, swine flu scare and hike in air fares hit the tourism sector hard in 2009 with number of foreigners visiting the country dropping by over 6 per cent but the tourism ministry is now looking up to the Commonwealth Games to reverse the trend.
The government today said market regulator Sebi does not monitor usage of proceeds of any initial public offers (IPOs) and it is not contemplating any change in the current regulatory framework.
Hexaware’s net profit for the third quarter ended September 30, 2009 jumped over threefold to Rs 41.3 crore from Rs 11.5 crore in the corresponding quarter last year.
US car maker General Motors today said it will display six production and concept vehicles during the Auto Expo here next month, besides putting on display its soon-to-be-launched mini car "Beat".
Carnation Auto, the multi-brand car service provider promoted by former Maruti Suzuki head Jagdish Khattar, today joined hands with Fiat Group firm Magneti Marelli for servicing premium cars in the country.
Automobile major Mahindra & Mahindra today reported a net profit of Rs 400.85 crore in the first quarter ended June 30 against Rs 159.30 crore in the same quarter last year.
The stock touched a high of Rs 233 and finally settled 4% higher at Rs 228. The counter clocked volumes of 1.93 million shares on the BSE.
Balrampur Chini has called off the deal it was looking to enter into with Bajaj Hindusthan after initial talks. In a communication to the stock exchanges, Balrampur Chini said “some discussions were held with Bajaj Hindusthan on future business strategies”. It said the promoters had not entered into any agreement with any party for sale of their stake.
Raising the price at which sugar mills are mandated to purchase sugarcane from farmers, over that fixed by the Centre, could punch a hole in the pockets of states. The Union government has said that anything that the state mandates above the centre-assigned price will have to be paid by the state.
The bidding for the Uttar Pradesh government sugar mills has again been put off until November.
Industrial and automotive battery manufacturer Amara Raja Batteries is planning to invest Rs 95 crore in 2009-10 to enhance its manufacturing capacity among others.
New govt may be sworn in tomorrow.
Shedding earlier reservations over some aspects of the controversial new FDI guidelines, the Finance Ministry now says it does not have any objection to new rules that changed the criteria for calculation of foreign ownership in a company and its downstream investment.
The government will consider disinvesting its stakes in profitable listed public sector units when these come out with follow-on offers.
How do fund houses charge the various taxes like dividend distribution tax, capital gains tax and securities transaction tax that a mutual fund is subject to? Are these deducted from the returns the fund generates?
Asian markets ended in the green today. The Hang Seng, dropped from its intra-day high to end with a gain of 115 points at 22,412.
Drug maker Wockhardt today said it has been chosen as the pharmaceutical company for the maximum number of patent filings and grants from India.
Pharma firm Lupin today said it has acquired the worldwide rights for nasal spray AllerNaze from Collegium Pharmaceutical for an undisclosed amount.
The government has identified 46 monuments in Delhi for elaborate sprucing up before the 2010 Commonwealth Games, the Rajya Sabha was informed today.
Barring intra-day corrections, the market displayed a firm trend throughout the week. The Sensex rallied 4.27 per cent (691 points) to end at 16,849. IT, metals and select banking stocks were the major gainers during the week.
The activities of foreign institutional investors (FIIs) with long build-up in the Nifty futures and short-covering in stock futures during the week ended September 13 augur well for the market. The Nifty is expected to hit a new high in the coming week if it crosses a crucial resistance at 5,060. On the downside, 4,940 is a healthy support level and, below that, 4,860 is the crucial support level. The Nifty rose over four per cent during the week largely due to short-covering from foreign investors in the Nifty and stock futures.
Construction work on the onshore LNG terminal, coming up at Puthuvype, near here will be completed by December, next year.
With the acute ethanol shortage derailing the programme to blend the sugarcane extract in petrol, Oil Minister Murli Deora will meet Agriculture Minister Sharad Pawar next week to salvage the programme.
The Ambani brothers may be at war with each other in real life, but that hasn’t stopped them from collaborating in reel life. The Aamir Khan starrer 3 Idiots, a Reliance Big Pictures release (an Anil Ambani enterprise), starts off thanking Mukesh Ambani for giving it permission to shoot at the IIM Bangalore campus — Mukesh Ambani is the chairman of IIM Bangalore.
Targets areas where it has negligible presence
Telecom operator Reliance Communications (RCom) today announced the launch of its value-added service "mVDO", which will allow its mobile subscribers watch, share, search and upload videos online.
Religare aims to become one of the top financial services companies globally, and in double-quick time.
Autism awareness is growing, as the increasing number of cases shows
Johnson and Johnson Medical India, plans to introduce its insulin pump for diabetes patients in the country by end-this year, a top company official said.
Public sector lender UCO Bank today said it will convene a meeting of its shareholders to decide whether it should come out with a follow-on public offer (FPO) or placement of shares to qualified institutional buyers to raise funds.
Sumit Bose, former 13th Finance Commission Secretary, today took charge as Disinvestment Secretary, at a time when the government is expected to come out with a roadmap for its equity sale in PSUs next month.
Asian markets surged to 17-month highs today. The Hang Seng jumped 456 points (2%) to 22,280. The Nikkei added 27 points to 10,682.
Rajesh Bhayani / Mumbai January 30, 2010, 0:05 IST
In a step towards initial public offer (IPO) guidelines for insurance companies, the Insurance Regulatory and Development Authority (Irda) has come out with final public disclosure norms, to be effective from March.
To also discuss Swarup panel’s suggestions on financial stability.
The largest mobile services provider Bharti Airtel today warned mobile users to avoid responding to suspicious/fraudulent calls which ask for personnel information.
Public sector Canara Bank, as part of fulfilling its corporate social responsibility (CSR) is in the process of imparting training to rural youth to enable them to acquire jobs in various disciples.
Somany Ceramics, one of the leading ceramic manufacturer in India, the profit before tax recorded an increase of 105.5 per cent rising to Rs 5.28 crore from Rs 2.57 crore in the same period last year. The company reported an increase of 19 per cent in net sales to Rs 99.59 crore as against Rs 83.75 crore in the corresponding quarter last year.
Telecom major Reliance Communications (RCom) has posted a consolidated net profit of Rs 1,637 crore for first quarter ended June 30, 2009, an increase of 8.3 per cent, compared with a net profit of Rs 1,512 crore recorded during the same period of previous financial year.
There is a lot of misinformation floating around when it comes to Worldwide Interoperability for Microwave Access (WiMAX) technology, opines Siavash M Alamouti, Intel Fellow and Chief Technology Officer of the Mobility Wireless Group, Intel Corporation. "Those who swear by competing technologies like 3G and LTE, say WiMAX (also known as a 4G technology) brings no value but this is not true. It"s a proven technology," he says.
The court of the special judge, Ranchi, has allowed the Enforcement Directorate (ED) to visit Thailand, United Arab Emirates (UAE), Indonesia, Sweden and Liberia to conduct further investigations into money laundering and hawala case involving over Rs 2,000 crore against the former Jharkhand Chief Minister Madhu Koda and his aides.
Railways are contemplating to provide a doctor in long distance trains, having practically no stoppages en route to handle emergency situations, the Lok Sabha was informed today.
Communications Minister A Raja has learnt it’s better to be safe than sorry. After the EGoM meeting on the 3G spectrum auction, Finance Minister Pranab Mukherjee was surrounded by journalists. He refused to make any comment and then turned towards Raja and said, “Nobody should talk to the press about this meeting.” Even before Mukherjee could finish, Raja waved his hands and said, “Sir, I am not saying anything. I am not saying anything.” A few days ago, Mukherjee had summoned Raja and told him not to talk to the press about the 3G issue and to ensure that no inter-ministerial communication related to the 3G auction was leaked from his office — letters from Mukherjee to Raja and vice versa have all been leaked to the press in recent weeks.
Insurance major Aviva Plc returned to the black with profits of 747 million pounds for the first six months of this year on the back of strong contribution from its general insurance business, among others.
Says allocation will be at market-determined prices.
We all watch videos and TV content online. But we also know that streaming videos can become frustrating on a dawdling internet connection, which usually kills the experience. This is where mobile broadband connections come to the rescue. A mobile broadband connection is essentially a mobile phone for your PC — it uses the same GSM/CDMA and 3G technologies that provide voice and data to your mobile.
Rajya Sabha was today adjourned sine die after a month-long session, which witnessed passing of 17 government bills and discussions on a range on issues, including the Liberhan report and price rise.
Realty major Ackruti City Ltd, has lined up a capital expenditure plan of Rs 600 crore over the next one-year, a top company official said.
IT security solutions major Symantec today said it has partnered with technology major Hewlett Packard (HP) for providing online backup to HP"s consumer desktop and notebook PCs globally.
Vandana Gombar & Joe C Mathew / New Delhi December 01, 2009, 19:57 IST
The government is likely to take a decision soon on granting the "Maharatna" status to a few central public sector enterprises, which may include PSU heavyweights like ONGC, SAIL, BSNL, NTPC and CIL.
Lender have agreed to fund Haldia Petrochemicals" expansion plan, which had suffered cost and time overrun, as a study has found the project viable.
Five major coal unions today opposed the government"s move to sell its stake in Coal India (CIL) saying the firm is competent enough to meet its financing needs and demanded infrastructure status for the sector.
Godrej Security Solutions (GSS) Division, one of the divisions of Godrej & Boyce Mgf Co. Ltd and part of Godrej Group, has set the target of around Rs. 400 crore turn over for the current FY 2009-10 and eyeing Rs. 500 crore turn over by FY 2010-11.
The Indian Space Research Organisation (Isro) is planning to launch the Cartosat series ‘Cartosat-2B’ remote sensing satellite in March this year, Isro Chairman K Radhakrishnan said here today.
Home Minister P Chidambaram has said the process for forming the new state will be initiated.
The market could test 5,300 going into the December settlement
Welcoming the Indian government"s move to infuse equity in Air India, the IATA today said such support should be a "one-time shot" that should be followed up by an effective restructuring programme to ensure that the airline comes out of red.
Oil India Ltd (OIL), the country’s second-largest state-owned explorer, has posted a 23 per cent increase in net profit for the quarter ended December 2009 on the back of higher price realisation due to a reduced subsidy outgo.
A peep into a new book about underrated Maharashtrian cuisine.
Use credit wisely, save, take insurance and sensibly invest in equities.
Life insurers have begun to spend big money on brand promotion. The market, after all, is crowded. At last count, there were 22 companies in the fray for a market estimated at Rs 55,355 crore. SBI Life, the 74:26 venture of State Bank of India and BNP Paribas Assurance, has been not as aggressive as its rivals so far as brand promotion is concerned. Where others rolled out campaign after campaign, SBI Life stuck to its old campaigns. It is only now, after a two-year hiatus, that it has come out with a brand new advertising campaign.
Financial inclusion, the process of ensuring access of timely and adequate credit by the vulnerable groups at an affordable cost, has been achieved in thirteen districts of Orissa.
Reiterating her opposition to the ongoing joint operation against the Naxalites (CPI Maoist) at Lalgarh, in Paschim Medinipur, Mamata Banerjee said today that her party would continue to oppose it. She has pointed out that the joint operation had not yielded the desired results, as killing of poor people in the junglemahal was continuing.
Both Bharat Sanchar Nigam (BSNL) and Mahanagar Telephone Nigam (MTNL) are set to miss the mobile number portability (MNP) deadline of December 31.
The markets are trading in the positive zone as global markets have improved on news of easing Dubai fears. Abu Dhabi has lent $10 billion to Dubai as emergency funds.
The Government today said that it has approved the Jawaharlal Nehru National Solar Mission with an aim of setting up 20,000 MW grid solar power and 2,000 MW off-grid solar power by 2022.
Pulses getting dangerously close to Rs 100 per kilo, potatoes in West Bengal (a traditional exporter) crossing Rs 20 a kilo, make real the food price inflation that statisticians’ numbers signal. Inflation in primary food articles is currently running at over 13 per cent. Dun and Bradstreet forecasts that overall inflation will touch 6 per cent by the end of the current fiscal, fuelled by, among others, current high food prices and the impact of the drought. The 20 per cent deficit in the monsoon is slated to bring down kharif output by 15-20 per cent. The news couldn’t get worse.
Country"s largest lender State Bank of India"s (SBI) pension corpus could be regulated by the Pension Fund Regulatory and Development Authority (PFRDA), opening a new area for the interim regulator.
Accelerating mobile PC shipments will drive the worldwide PC market to grow again, according to Gartner Inc, an information technology research and advisory company ‘s preliminary fourth-quarter forecast. In 2010, PC shipments are projected to reach 336.6 million units, a 12.6 per cent increase over 2009.
Navratna aluminium giant National Aluminium Company (Nalco) has decided to give cash incentive for disposal of fly ash, about 7,000 million tonnes (MT) of which is generated at its 1,200 Mw thermal captive power plant here everyday.
Body blow for real estate developers as state switches off tap to high-rise projects
Mahesh Vyas / New Delhi January 2, 2010, 0:54 IST
Even as the government is gearing up to auction radio waves for the next generation mobile services, credit rating agency Fitch today said it is closely monitoring the impact of the cost for pan-India 3G licence on the revenues of Bharti Airtel.
Private sector lender Yes Bank today said it has raised $225 million (about Rs 1,034 crore) through private placement of shares to institutional investors.
Max India ended at Rs 204, higher by Rs 13 or 6.9%, on the BSE.
The Bombay High Court has asked Delhi-based businessman Sanjay Dalmia to appear before the Economic Offences Wing (EOW) in connection with a cheating case.
The southern cement major India Cements is going to considerably increase its recently acquired holding in Indo Zinc in Rajasthan. Indo Zinc holds a limestone mining lease in Rajasthan — an indispensable input for manufacturing cement.
India has earmarked Rs 500 crore for the relief and rehabilitation of the Internally Displaced Persons (IDPs) in Sri Lanka, Lok Sabha was informed today.
Amid India"s desire to see early rehabilitaion of nearly three lakh Tamil civilians displaced due to the war, External Affairs Minister S M Krishna today met his Sri Lankan counterpart Rohitha Bogollagama and is understood to have discussed the issue.
The Indian Air Force (IAF) today said it had sought permission from the government to fire at Maoists if they attacked helicopters.
Accusing North Korea of "directly" and "recklessly" challenging the global community by conducting a second nuclear test, US President Barack Obama today said this defiance "warrants action" internationally.
A K Bhattacharya / New Delhi October 27, 2009, 0:48 IST
The CBI today recorded the statement of Buta Singh, Chairman for the National Commission for Scheduled Castes (NCSC), in connection with a bribery case involving his son.
The Andhra Pradesh government has ordered a CBI inquiry into the chopper crash in which former chief minister Rajasekhara Reddy and four others died last week. Interim Chief Minister K Rosaiah requested Union Home Minister P Chidambaram for a CBI probe into the tragedy, a statement issued by the government said.
Gaganjeet Bhullar wants to be the number one golfer in India, and is taking giant strides towards achieving his aim.
Bajaj Auto has seen motorcycle production more than double since the lows of December 2008 on the back of surging sales. That’s the good news.
The Orissa government hopes to generate about 9820 Mw power in the state by 2014.This includes 2400 Mw to be generated by Sterlite Energy Ltd, 1050 Mw by GMR Kamalanga Energy Ltd, 1050 Mw by Nava Bharat Energy and 600 Mw to be generated by KVK Nilachal Power.
Kolkata-based Vibgyor Vehicles, which unveiled two bikes today, said its second manufacturing plant with a capacity of 1.4 lakh units will be operational by May this year.
The cash reserve ratio (CRR) hike and a higher inflation forecast by the Reserve Bank of India (RBI) will not have much impact on the stock market as both have already been factored in by market participants, experts said.
A plethora of issues ranging from cheating by builders to complexities involved in succession and inheritance of properties dominated the first day of the annual Pravasi Bhartiya Divas attended by nearly 1,500 delegates from over 40 countries.
The Telangana agitation over the Centre’s decision to create a new state in the region has forced several companies, including Bharat Forge, the Lakshmi Mittal Group and the NTPC-BHEL joint venture, to either put their expansion plans on hold or explore other states.
Global brewer Heineken will buy the beer business of Mexico-based Fomento Economico Mexicano, SAB de CV (FEMSA), in an all share transaction worth $7.6 billion.
The volume of initial public offer (IPO) in the US in 2009 amounted to $16.6 billion, the second lowest on record, amid uncertainties in the financial sector worldwide.
India has proposed bilateral dialogue with the US and EU on the issue of climate change on the lines of one it is set to hold with China later this month, Environment Minister Jairam Ramesh has said.
ONGC and ONGC Videsh (OVL), the overseas investment arm of ONGC, in association with the Hinduja Group and Petronet LNG, have entered into two broad enabling agreements with Iranian authorities for participation in development of gas fields and liquefaction facilities in Iran, in return for assured minimum six million tonnes a year of LNG on long-term basis. ONGC made an announcement on the Bombay Stock Exchange (BSE) today.
Former hockey captain Viren Rasquinha’s recent stint at the Indian School of Business turned out to be the best year of his life, he tells Neha Bhatt
The 26/11 court has issued summons to Shashi Bhushan, Joint Secretary (Judicial) in the Ministry of Home Affairs, to appear as witness to throw light on sanction given to prosecute Pakistani gunman Ajmal Kasab and two others on charges of "waging war against the nation".
The Insurance Brokers Association of India (IBAI) today demanded implementation of a mechanism to reduce delays in renewal of licences and dubbed the recommendations of the Swarup Committee as being “unpractical” and “misconceived”.
Abu Dhabi Commercial Bank PJSC may be owed $1.9 billion by Dubai World, making it the largest creditor outside the emirate to the state company seeking to reschedule debt, said two people familiar with the companies.
Anil Ambani Group firm Reliance Capital today reported 52% decline in its consolidated net profit at Rs 63 crore for the third quarter ended December 31, 2009.
Windows 7, Adobe, Symantec software stuck at customs over excise duty
Self-deprecating humour isn’t something one sees too much of in this country (where making fun of others is held a nobler pursuit than laughing at one’s own foibles), so I’m always pleased to read Saad Akhtar’s webcomic Fly, You Fools! (People are Mindless Cattle), a good-natured, witty take on some of the things we read about in the newspapers every day. It isn’t brilliantly written or drawn (in fact, it mostly uses photos and mixed media rather than fresh illustrations) but it’s goofy and perceptive, casting fresh light on (among other things) security checks at mall entrances (http://tinyurl.com/5s25pe), rich kids mowing down pavement-dwellers in their Mercs (http://tinyurl.com/mhpwep), and loud honking at traffic signals as a substitute for sexual inadequacy (http://tinyurl.com/kl7knc).
The late Swedish journalist/author Stieg Larsson was the man behind Lisbeth Salander — the undeniably twisted and talented female protagonist of his “Millennium” trilogy. The second part in the series, The Girl Who Played With Fire, translated from Swedish by Reg Keeland, continues from where the first book left off — asocial heroine Salander once again back to her punch-throwing, expert computer hacking ways that she honed as a former security analyst in Stockholm, spinning yet another edge-of-the-seat crime thriller. Interestingly, Larsson’s father Erland Larsson, while receiving an award for his late son last year, revealed in an interview that the character of Salander seems to have been inspired by his son’s niece Terese, to whom the author had been very close.
Brian Moynihan, Oswald Gruebel and Josef Ackermann, leaders of some of the world’s biggest banks, met during the World Economic Forum in Davos, Switzerland, to plot how to reassert their influence with regulators and governments.
Sun Pharmaceutical Industries and its troubled US subsidiary, Caraco Pharmaceuticals, plan to together file 30 Abbreviated New Drug Applications with the US Food and Drug Administration (FDA) to market generic drugs, despite regulatory issues for the US company.
Companies across the world have continued to send employees overseas to take advantage of business opportunities, despite a reduced budget for international assignment programs during the economic downturn, a KPMG survey said.
Silver futures prices today rose up to 2.92 per cent on the Multi Commodity Exchange as traders engaged in creating fresh positions, tracking firming global trend.
The world"s largest software firm Microsoft today said it is sharpening its focus on the fast growing smartphones market and other wireless devices in India.
CEOSPEAK: Sanjeev K Chaudhry, CEO, Super Religare Laboratories Limited
Sees itself as spearhead for G-77, to press for twin-track talks in run-up to Mexico.
The ‘unscientific’ coal mining in Jantia Hills of Meghalaya is severely affecting power generation at North Eastern Electric Power Corporation’s (Neepco) Kopoli hydro project in Assam due to rise in acid content of water in the reservoir. The high acidic nature of reservoir water has led to unprecedented rise in wear-and-tear and breakdown of machines and parts of the power plant.
The declining trend in engineering exports from India has prompted domestic export promotion body EEPC India to seek the Centre"s support for the sector. Engineering exports, which grew by 18 per cent last year touching $40 billion, have declined by 22 per cent in the first six months of the current fiscal year.
Bharati Shipyard has received 10.2 million shares in the open offer made for acquiring an additional stake of 20 per cent in Great Offshore at Rs 590 a piece. The shares are equivalent to a stake of 27.5 per cent. Bharati had made the offer against ABG Shipyard’s counter offer to buy a stake of 33.8 per cent at Rs 520 a share.
Sixty-three per cent of Indian IT organisations have deployed green server rooms to increase energy efficiency or have a pilot project underway, according to a joint study by IBM and the InfoTech Research Group.
Entrepreneurs in Mandi Gobindgarh blame the state government for not taking concerted steps to support industry.
Confectionery brand Parle Products Private Limited will consider bringing more products in small packs at a price point of Rs 5 and below.
Anil Dhirubhai Ambani Group (ADAG) firm Reliance Natural Resources (RNRL) today welcomed the government"s move to protect NTPC"s interest on sourcing gas from Reliance Industries, saying effective legal steps will defeat the Mukesh Ambani firm"s "malafide attempts to dishonour" its commitment.
The UK government has asked Indian conglomerate Tatas to accept a revised proposal to guarantee hundreds of millions of pounds of short-term funding for luxury brands Jaguar Land Rover (JLR) or risk the plan being taken off, says a media report.
A day after revised schedule for the borrowing for the first half of the current fiscal was announced, the government today said it would raise Rs 12,000 crore from sale of two government papers.
WNS, the NYSE-listed business process outsourcing (BPO) player, continues to attract expressions of interest from its peers, as well as private equity players, to acquire the 50 per cent stake in it of investor firm, Warburg Pincus.
Global outsourcing and innovation company Aricent plans to increase its global headcount by 10-15 per cent in the current fiscal. Of this, around 70-80 per cent will be in India.
Telecom solutions and services provider Aricent today said its has earned an all-time high ever revenue of $460 million in FY09 and is looking at listing on Indian bourses in the next three years.
DTH major Dish TV today said it has partnered Indiatimes.com to offer mobile value added services (VAS) called "Mobile Active" to its customers.
Leading DTH players such as Dish TV and TataSky have urged the government to rationalise the multiple taxes on the industry, saying these are affecting the growth of the nascent sector.
Shyamal Majumdar’s “Game Changers” (Dec 28) did a good job talking of the Indians who have changed the last decade, and predictably the list begins with Prime Minister Manmohan Singh and contains the Ambani brothers, LN Mittal and even golden oldies like Amitabh Bachchan. Majumdar’s list, however, is incomplete without mentioning people such as E Sreedharan, the chief of the Delhi Metro Rail Corporation (DMRC). At a time when everyone associated the public sector with poorly executed projects, Sreedharan proved them wrong and gave the Capital a world-class Metro that is the envy of many. All of this, it is important to keep in mind, was executed within the government system as well as with public sector salaries.
After venturing into the private equity (PE) space earlier through a joint venture, financial services provider Religare is now planning to go solo.
Driven by improved liquidity and business confidence, mergers and acquisitions (M&A) as well as private equity (PE) activities in the country are showing signs of recovery and the deal space is likely to see an uptrend in the coming months, experts said.
Devendra Mukhia, an alleged aide of former Jharkhand Chief Minister Madhu Koda, today surrendered before the Income Tax department here which wants to probe his involvement in the alleged hawala and illegal investments case.
Hinduja Group’s flagship company Ashok Leyland’s Rs 1,300-crore Pantnagar (Uttarakhand) plant is likely go onstream within the next few months. The plant would have an installed capacity of 50,000 units of commercial vehicles annually.
Samsung has got its act together in mobile handsets. The journey forward could be tough.
The Indian healthcare industry, growing at an exponential rate, now presents an attractive investment opportunity for private equity and venture capital firms, says private equity experts.
The Indian Space Research Organisation (Isro) and US space agency Nasa should deploy surface robotic penetrator in "Chandrayaan-II" mission to study more about the presence of water molecules on moon, former President APJ Abdul Kalam has suggested.
The country"s largest steel maker, Steel Authority of India (SAIL), today said it has cut prices of its long products — used primarily in construction — by Rs 1,500-2,000 per tonne and may further lower the rates if the situation so warrants.
The swine flu virus may see a possible upsurge during the upcoming winter season in the South East Asian region, including India, the World Health Organisation today warned, asking nations to continue updating combat measures.
The surge in swine deaths in the country continued today with five more people succumbing to the deadly virus, raising the death toll to 208 even as the government said Tamilflu drug will be available in 480 select chemist outlets.
The Supreme Court today refused to give any relief to Swiss pharma firm Hoffman La Roche Ltd that had challenged a Delhi High Court order allowing Cipla to manufacture and sell a generic version of lung cancer drug "Erlotinib".
Despite the best efforts of Indian vaccine makers to develop the H1N1(swine flu) vaccine, Swiss drug major Novartis and Australian vaccine maker CSL may be the first ones to bag the orders from the central government for its supply.
The Sensex started the day on a very strong note mirroring international cues and on expectation of a good earning season. The Sensex is now at 17,660, up 120 points. The NSE Nifty is 33 points higher at 5,278.
Glenmark Pharmaceuticals today said it has received the final approval from the US drug regulator for the marketing of its anti- hypertension tablets.
The Supreme Court today set aside the Delhi high court order which had allowed the Indian company, Gufic Ltd, to use the name ‘Cliniq’ in its skin care product. The bench headed by Justice B Sudershan Reddy vacated the order on the appeal of Clinique Laboratories against the high court order.
Healthcare services provider Zydus Cadila has filed an application before the Drugs Controller General of India (DCGI) for its anti-diabetic drug.
Israeli drug maker Taro Pharmaceutical Industries has reported a profit of $12.49 million for the three months ended June 30, a decline of 4 per cent over the same period a year ago.
Mexico will push for a binding international agreement to cut greenhouse gas emissions when it hosts the next climate change summit in Mexico City in the coming year.
Global rates of the yellow metal jump 38.4% compared with 34% at home in 2009.
The country"s largest car maker, Maruti Suzuki India (MSI), has temporarily stopped production of its mid-sized sedan SX4.
Consumer healthcare products maker Johnson & Johnson today reported a 3.6 per cent drop in profit at $3.20 billion for the three months ended June, mainly on account of overall fall in sales.
The efforts of Posco India to generate public support for its integrated steel project near Paradeep have aroused the wrath of the anti-Posco activists.
Jagdish Khattar wants to fill the gap in the service infrastructure for cars. Will he succeed?
The government has granted one year extension to Satyam Computer Services for completion of three special economic zones (SEZ) in Andhra Pradesh, giving elbow room to the new management of the IT firm.
Meghnad Desai admits in the preface that it is an ambitious book. Written by “someone who cannot claim to be a professional historian”, the book is the author’s own and “somewhat opinionated” account of how India became a nation. In the process, it outlines a new premise based on which Indians should “rediscover” the new India.
Chennai-based electric scooter manufacturer Kabirdass Motor Company is planning to raise Rs 60 crore through an initial public offering to support its expansion plan and for setting up a manufacturing facility near here.
- TMC firm in opposing joint operations - Protesters hold blockades, transport hit - All-party meet on Telangana begins - Students to block national highway on January 5 - Centre strategises for today"s meet - No flip-flop on Telangana, says Chidambaram
Kerala Finance Minister T M Thomas Issac today said that the government has no plan to cut tax rates on petroleum products.
Reliance Industries Ltd (RIL) today told the Supreme Court that Reliance Natural Resources Ltd (RNRL) had agreed to the clause on ‘government approval’ (on gas sales) in the discussions that followed the demerger between the Ambani brothers, Mukesh and Anil.
Nearly 60 vendors will move to the vendor park at Tata Nano’s Sanand plant by March next year. The rollout of the car is set for the January to March quarter, and vendors will feed the plant at existing locations till they shift.
Anil Ambani’s direct-to-home company, Reliance BIG TV, has formed a marketing alliance with Fox STAR Studios for its forthcoming movie, Avatar. The deal, according to source, has been struck for Rs 20 crore.
Agricultural growth in the third quarter (October-December) of the current financial year might be negative, Finance Minister Pranab Mukherjee said today.
Gold, which has been one of the bigger investment vehicles this year, would remain so as the demand for the metal is underpinned by inflation, economic uncertainty and investors" search for alternative assets, says an official of the World Gold Council.
Major growth driver will be transmission and road projects.
The markets continue to trade in the negative on the back of weakness in realty, metals and IT pack.
A look at the top five trends that will stand out in 2010.
India urgently needs a new land acquisition policy as the present framework is outdated and does not adequately incorporate the interests of the owners and workers of the land procured by private firms, according to Planning Commission member Arun Maira.
NIIT technologies has announced partnership with Hitachi Information Systems to offer cloud computing services. Cloud computing is an emerging mega trrend which is standardized IT capability delivered via the internet in a pay per use and self service manner. With cloud computing gaining impetus, both companies will be able to offer the complete portfolio of services around the cloud infrastructure to cater to the changing IT landscape.
In order to encourage intra-state power trading business, state power sector regulator Gujarat State Electricity Regulatory Commission (GERC) has proposed an intra-state electricity trading margin of not more than 4 paise per unit.
Carbon dioxide emissions, the main driver of global warming, could fall three per cent worldwide in 2009 due to the global economic crisis, the International Energy Agency said today.
Rajesh Bhayani / Mumbai September 18, 2009, 0:02 IST
Anil Ambani group firm Reliance Natural Resources (RNRL) today hit out at power companies GMR and GVK for raising the bogey of unfair price advantage to it, saying that they had got into gas deals with Mukesh Ambani-led Reliance Industries (RIL) knowing that the agreement was subject to the outcome of the RNRL-RIL case.