Public Company
PricewaterhouseCoopers’ (PwC’s) head of tax practice Dinesh Kanbar, and close to a dozen other senior tax executives, are leaving the firm to join rival KPMG.
A major tax reform like goods and services tax (GST) is a challenge and considerable preparation is necessary before implementing it. There is a need to bring in legal/constitutional changes, reforms in central tax system and state tax systems, said M Govinda Rao, director, National Institute of Public Finance and Policy (NIPFP).
Uttar Pradesh’s main Opposition Samajwadi Party today opposed the division of the state into four smaller states as suggested by Chief Minister Mayawati.
China should cease ‘such activities’ forthwith: MEA.
Blaming excessive regulations for the media and entertainment industry’s acute financial crisis, Rupert Murdoch’s Indian venture Star Group today said the government and regulator had no role in the sector.
Business Standard / New Delhi August 27, 2009, 0:13 IST
Following the Insurance Regulatory Development Authority’s (Irda’s) cap on insurance charges, Life Insurance Corporation (LIC) is looking at measures like increasing the minimum premium and lock-in period, and rejigging other expenses such as fund management charges, for unit-linked insurance plans (Ulips).
Minister of State for External Affairs Shashi Tharoor’s controversial stay in Taj Mansingh hotel had a grand finale with an Iftaar party. Among Tharoor’s five Keralite Cabinet colleagues, only Minister of State for Agriculture KV Thomas turned up at the Iftaar, which was attended by VIPs, including Vice-President Hamid Ansari. The next morning, Tharoor reciprocated this with his presence at the appam and mutton stew house-warming party at the official residence of Thomas, who has moved out of Kerala House. This was followed by Tharoor attending a multi-course luncheon hosted by employees of Kerala House to celebrate Onam. Tharoor had earlier checked out of Kerala House complaining “lack of a gym.’’
Dow Building Solutions, a foaming and insulation technology division of US-based Dow Chemical International, the world’s second largest chemical manufacturer, is contemplating investing $20 million (approximately Rs 98 crore) for setting up a manufacturing plant in India. “Potential for extruded polystyrene (insulation material) in India is very high.
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.
- BBX awaiting RBI nod to start global trading in India - Statistical lie - Central Bankese" - RBI seems cool to banks" plea for hiking group exposure limit - Regional Rural Banks demand autonomy - India Inc dispels Dubai debt fears
The government will not sanction any Leave Travel Allowance (LTA) for an employee who uses personal car or taxi as mode of transport.
Sanjaya Baru / Sanjaya Baru February 1, 2010, 1:19 IST
Business Standard / New Delhi February 1, 2010, 0:54 IST
The increase in the tax on aviation turbine fuel (ATF) from 4 to 16 per cent in Andhra Pradesh would fetch the state exchequer an additional revenue of around Rs 120 crore a year, but it might take away the advantage Hyderabad enjoyed because of its lower tax rates.
Nilanjana S Roy / New Delhi October 6, 2009, 0:25 IST
Despite the heaviest flood in river Krishna in more than 100 years -- with 10 lakh cusecs gushing in at a menacing pace -- people in many villages are still reluctant to move to safer places.
With the economic slowdown impacting the demand for credit, the credit-deposit (CD) ratio of the commercial banks in Orissa declined by 4.08 percent by the end of September compared to the same period last fiscal.
Stimulus exit looms as Pranab waits for third quarter.
Credit offtake was expected to pick up in the coming months on the back of policy steps taken by the Reserve Bank of India (RBI) to boost credit growth, Minister of State for Finance Namo Narain Meena said today.
Rajya Sabha today witnessed two adjournments during the pre-lunch sitting following uproar over Centre sending a team of officials to West Bengal to assess the situation in the state after a spate of violence.
Public sector telcos BSNL and MTNL together have Rs 41,471 crore cash on hand as of September 2009, the government said today.
ICICI, Kotak Mahindra announce fixed-cum-floating rate schemes.
When the Union Budget was presented earlier in the year, the Ministry of Home Affairs (MHA) outlay was raised 33 per cent over the previous Budget, up from Rs 25,500 crore to Rs 38,000 crore.
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.
Aditi Phadnis / New Delhi December 25, 2009, 0:03 IST
Disinvestment of public sector companies gathered steam in the first year of UPA-II that saw two PSUs-- Oil India and NHPC-- raising around Rs 8,600 crore from IPOs and the way was cleared for divestment in three more state-run power companies in the new year.
The stock erased all its gains and slipped into the negative terrain to touch a low of Rs 90. The scrip finally ended at Rs 91, down 2% from its previous close. The counter clocked volumes of 3.71 million shares as compared to the two-week daily average traded volumes of 1.11 million shares on the BSE.
The implementation of goods and services tax (GST) from next financial year will result in the reduction of tax burden for the industrial sector and make it more competitive, a senior official said today.
The Centre and the state governments may retain the powers of reducing rates for the proposed goods and services tax (GST) without going through the Parliamentary process. Despite stability and uniformity of rates being the basis for the concept of GST, the model GST Bills are likely to have a provision for giving the governments the flexibility to bring down rates, though with a certain degree of discipline.
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.
Six out of the top 10 companies added over Rs 24,000 crore to their market capitalisation last week with telecom giant Bharti Airtel alone contributing one-third of the gain.
Yash Chopra, the king of romance in Bollywood, is all set to paint the small screen ‘red’ from January 1. Chopra’s YRF TV has partnered with general entertainment channel Sony Entertainment Television exclusively to launch five shows which will be aired on Friday, Saturday and Sunday between 8:00 pm and 10:00 pm.
Around 35 per cent voting was recorded till 1300 hrs today in the first phase of elections to 26 Assembly seats in Jharkhand.
Business Standard / New Delhi September 02, 2009, 0:09 IST
HRD Minister Kapil Sibal said the process of formulating an overarching body for higher education regulation, on the lines recommended by the Yash Pal committee, was on. He also said he was open to the idea of Indian universities collaborating with foreign ones or with the corporate sector.
Only Sri Lanka, Indonesia and Brazil better Sensex returns.
Australia will ask New Delhi to crack down on the unscrupulous education agents in India who give misleading information to students willing to pursue studies in the private institutes Down Under.
India today said it is not in a position to resume the composite dialogue with Pakistan till "vigorous prosecution" is mounted against the accused in the 26/11 case and the infrastructure of terror across the border, responsible for the numerous attacks, is dismantled.
T N Ninan / New Delhi January 9, 2010, 0:37 IST
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.
The scene is New York City in 2025. Henry Poiret, a former FBI scientist, is a specialist in environmental balance sheets who tracks down energy wasters of all kinds for his clients. For the very first time, he allows a journalist to watch him at work — and to get an inside glimpse of his new lab.
Oil prices rose in Asian trade today as traders were heartened by renewed demand for energy in the region, dealers said.
International Atomic Energy Agency (IAEA) chief Mohammed ElBaradei has asked Iran to respond swiftly to the "unique" offer made by the US, France and Russia to process its enriched uranium fuel abroad.
Oil rose further in Asian trade today, underpinned by a better-than-expected expansion in the US manufacturing sector, analysts said.
The global economic recovery augurs well for domestic companies having a large exposure to overseas markets.
Coca-Cola launched its energy drink brand Burn in the Indian market a few days ago, targeting high-spending, young, urban consumers. Positioned as an after-hours drink, Burn is setting its sights on pub-goers and the clubbing crowd.
Upbeat from the success of his designer limousine rental business, Shashin Shah of Yogi Auto Care has now come up with a second lounge-look limousine developed by leading designer Dilip Chhabria. Shah plans to expand his limousine fleet to have at least one such modified car in every major city of Gujarat in the coming years.
Jagdish Khattar-promoted Carnation, a multi-brand car sales and servicing network, and the Dilip Chhabria-owned car design boutique DC Design have entered into a joint venture that will help the design studio offer its services to the mass segment at lower price points. Before this, DC’s services were restricted to high networth clients.
Biotechnology firm Transgene Biotek today said it has signed a pact with Dr Reddy"s Lab to manufacture a drug named, Orlistat used in treating obesity.
India will be the third largest economy in the world after China and United States by 2050, a US-based internationally recognised foreign-policy think tank has said.
The German Auto major Volkswagen today rolled out its first made-in-India car "Polo" at its plant at Chakan, near here in the presence of Maharashtra Chief Minister Ashok Chavan.
Eyes the fast-growing telecom and insurance spaces in the domestic market
Encouraged by a sudden spurt in demand from the steel and foundry sectors, pig iron producers have raised prices by six to eight per cent for its spot delivery. With this revision, pig iron for steel consumption was quoted at Rs 16,500-18,000 a tonne, while that for the foundry sector at Rs 18,500-20,000 a tonne — a rise of about Rs 1,200-1,500 a tonne.
With food inflation scaling a decade high of around 20 per cent for the week ended December 5 and the overall headline inflation rate for the month of November at 4.78 per cent, economists and policymakers have started debating about the rollback of a lenient monetary policy that was put in place to inject liquidity in the system during the crisis period.
Gretchen Peters’ Seeds of Terror: The Taliban, the ISI and New Opium Wars (Thomas Dunne Books, Hachette India reprint, Rs 495) tells you why Afghanistan and Pakistan’s North West Frontier provinces will always be on the boil that will spread into the Punjab and increase in intensity, as recent events have shown. Aided and abetted by rampant corruption spread by poppy growers to the Taliban and other local powers, to drug lords and their allies in government, the influence of opium money pervades Afghan life. Afghanistan today provides 93 per cent of the world’s heroin, far exceeding the combined production of Colombia, north Myanmar, Thailand and other regions of the world. Peters examines the depth of the opium problem and describes how opium sales have ballooned since 2001 and continue to grow exponentially, earning more than half a billion dollars off the opium trade. Why and what could be the consequences for us is the central question asked in the book.
Rajasthan-based Rallison Electrical Private Limited today launched the country"s first Fire Survival Cable and targeted to achieve turnover of Rs 500 crore in the current fiscal.
Cotton prices seems to have started moving upwards following sustained buying of exporters and reduction in arrivals of the commodity due to festive season of Diwali. The prices in both spot as well as forward market have surged in the range of Rs. 500 to Rs. 600 per bale in last week.
The government today said edible oil output is likely to decline 7.4 per cent to 7.96 million tonnes in the 2009-10. Edible oil production, last year, stood at 8.6 million tonnes. Oil season runs from November to October.
Apex industry body Ficci has suggested that the government should encourage companies to invest in corporate social responsibility initiatives by giving tax incentives instead of making it binding.
Industry bodies were enthused by the more than anticipated GDP growth of 7.9 per cent in the second quarter (Q2) of the current financial year, 2009-10, along with the increase in consumption and investment. However, they are apprehensive about the sustainability of growth.
The Asian Development Bank (ADB) today raised its growth outlook for the country to 7 per cent from its earlier 6 per cent for calendar year 2009.
The Centre has in principle agreed to come out with a Technology Upgradation Fund Scheme (TUFS) for the benefit of the paper industry, an official of Indian Agro and Recycled Paper Mills Association (IARPMA) said today.
With the small car segment driving growth, the country"s domestic passenger vehicle market is likely to grow at a compounded annual growth rate (CAGR) of 13.9 per cent over the next five-years, a survey said.
The government today said it has approved revival of 36 sick central public sector enterprises (CPSEs) that will require Rs 2,921 crore of cash infusion, besides Rs 12,333 crore of other assistance.
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.
India"s leading private lender ICICI Bank"s UK subsidiary has been accused by the Employment Tribunals in London of mistreating a whistleblower, a media report says.
Railway Minister and Trinamool Congress chief Mamata Banerjee today hit her predecessor Lalu Prasad where it hurt him most—on the supposed turnaround of Indian Railways during Prasad’s regime.
The Ministry of Road Transport and Highways was in a position to bid out contracts for the construction of 8,000 km of roads within the current financial year, Planning Commission Deputy Chairman Montek Singh Ahluwalia indicated today.
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.
Indian pharma industry found that it had no medicine to cure adversities that came its way in 2009 -- when it battled shipment seizures by EU authorities, tightened US regulations, Chinese drug piracy and currency fluctuations.
The Cabinet Committee on Economic Affairs (CCEA) today approved a special dispensation for Gazprom, allowing the operator of an offshore block to carry out additional exploration for 18 months beyond the Phase-III of exploration.
Rourkela Steel Plant (RSP) has concluded the calender year 2009 on a high note by notching up the highest saleable steel production of 2.02 million tonnes (MT) for any calender year.
Having spent thousands of dollars for many quarters lobbying on bilateral ties and for the nuclear deal with the US, India cut down on these expenses in the last quarter, even as neighbour Pakistan paid a higher quarterly bill for canvassing support for it in America.
Drug manufacturer Aurobindo Pharma today said it will acquire Trident Life Sciences (TLSL) for an undisclosed amount.
Ranbaxy Laboratories today announced that it had received final approval from the US Food and Drug Administration (USFDA) to market and manufacture Glycopyrolate tablets.
The Supreme Court has admonished drug major Ranbaxy Laboratories for not raising on the relevant occasion the issue of refunding Rs 1 crore penalty the government imposed on it for allegedly overcharging drug prices.
Two days after a student at the Indian Institute of Management, Ahmedabad (IIMA) tested positive for H1N1, the management institute has got its act together to handle the situation.
The Rs 15,000-crore steel pipes industry is set to grow 20-25 per cent in the next 3-4 years following massive investment laid out on energy security by the governments of developing economies. Developed economies require a change in existing pipelines that were installed over 25 years ago and demand is likely to emerge from various sectors of global economies.
The simmering tiff between the family members of the century-old retail firm Nilgiri’s and its private equity investor, the UK-based Actis, became more complicated on Friday.
Ratan Tata’s recent revelation that his successor could be a foreigner may have been too much for other Indian businessmen to swallow. Few, after all, are ready to turn their business over to a professional to run, let apart a foreigner. Yet, many of them have begun to appoint foreigners in key leadership positions.
City-based logistics solutions provider DRS Logistics Private Limited is embarking on a Rs 450-crore expansion that envisages construction of warehousing facilities in south India by the end of the next financial year.
Reliance Brands, a part of Reliance Retail, today said it has joined hands with US-based Timberland to distribute the latter"s footwear and apparel in the country.
As crude oil prices touched a fresh one-year high, trading at above $75 a barrel on Thursday, analysts and oil sector executives said underrecoveries could rise and become a cause of concern.
Tatas-owned Jaguar Land Rover will hire over 100 graduates and under-graduates in 2010 to fill up vacancies across different verticals as sales return on track after a prolonged bumpy ride.
The Tata group has agreed to hand over the land alloted for its abandoned Nano project at Singur "if there was meaningful negotiation", West Bengal Industry Minister Nirupam Sen said here today.
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.
DuPont India, a wholly-owned subsidiary of US-based E I du Pont de Nemours and Company, plans to invest about Rs 150 crore in DuPont Knowledge Centre at Hyderabad over the next three years.
Hyderabad-based MLR Motors, which failed to achieve financial closure for its Rs 1,250-crore project, got a fresh lease of life with the Andhra Pradesh government agreeing to extend the deadline till March 31, 2010.
What happens when the apex patents organisation brings an economist, sorry, a chief economist, on board? You get a report that links the impact of the economic crisis to patent filings and seeks to explain a complex pattern through a fixed prism. You also get a report with a snappier title even if its conclusions are not entirely convincing.
A Pakistani court has sought responses from federal authorities to a petition challenging the amendment of policy to allow the import of medicines and vaccines from India.
Drug maker Suven Life Sciences is in talks with four global pharma majors for a licensing deal for its Alzheimer drug SUVN-502, a top company official said today.
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.
Andhra Pradesh Chief Minister K Rosaiah today briefed new Governor E S L Narasimhan about the prevailing political situation in the state.
Google Telangana and you are likely to find more books on the communist-inspired “struggle” of the 1940s and 1950s than the “separatist” agitation of 1969-70 or the one in progress. While there is no link at all between the “struggle” and the “agitations”, it is becoming increasingly clear that Telangana’s Maoists hope to climb on the separatist bandwagon to further their own cause. So, it is not surprising that both M Bharath Bhushan and N Venugopal — editors of this slim and eclectic collection of essays on various facets of Telangana life, culture, politics and economics — labour hard to link the two and, in the process, denounce the mainstream separatist leadership.
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.
Those hoping for a respite from deficit-driven high sugar prices next year have a long wait ahead, as tight supplies, high cane prices and expensive imports leave little scope for any substantial price correction.
A day after receiving a rap from the Union Cabinet, Oil Minister Murli Deora today called a meeting of fuel retailers and sugar millers to ensure compliance with a programme to sell ethanol-doped petrol.
India will push for building large capacity integrated nuclear energy parks to step up nuclear power production to meet increasing power demands, Atomic Energy Commission Chairman S Banerjee said today.
Mahindra Satyam today said its board has approved settlement of lawsuits brought by its former client Upaid Systems by paying $70 million.
Optimistic on job losses, but closely watching the situation, says overseas Indian affairs ministry
Mahindra Satyam today said its financials are not necessarily bad as has been made out, even as investors were roiled by reports that the accounting fraud in the company could be double the initial estimate of Rs 7,800 crore.
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.
An undergraduate economics student from Shri Ram College of Commerce (SRCC), University of Delhi (DU), has reportedly bagged an offer from Deutsche Bank for an annual compensation package of Rs 32 lakh. This, university officials say, is due to the course revision that happened a few years ago, which made the content of the course more relevant today.
The National Fisheries Development Board (NFDB) is preparing to call tenders in a month for construction of various facilities for the specific pathogen-free (SPF) shrimp seed (Penaeus monodon – black tiger prawn) multiplication centre at Mulapolam village in Srikakulam district of Andhra Pradesh.
After frustrating traditional bid attempts for its SEZ-categorised IT parks in Indore, Bhopal, Gwalior and Jabalpur, the Madhya Pradesh government is likely to re-bid for the parks through Swiss Challenge System, under which the government can also take offers from private parties, unsolicited. It is also likely to change the model of sale of IT parks so that the developers can attract private partners. Crystal IT park in Indore, a complete infrastructure of eight-storied building, has no taker for years, and the Bhopal IT park is reportedly going the same way before it can see the light of day. Few months back Zoom Developers pulled out of the Crystal IT park project after successfully bidding for it.
Finance Minister Pranab Mukherjee today did not rule out the possibility of delay in introduction of the Goods and Services Tax (GST) from scheduled date of April 1, 2010.
Telecom Minister A Raja is understood to have broached the issue of BSNL"s Rs 35,000- crore expansion programme with Prime Minister Manmohan Singh, amid controversy following propriety issues raised by two government nominees on the company"s Board.
Sanjaya Baru / New Delhi October 21, 2009, 0:16 IST
Yeddyurappa will lead delegation to meet PM.
You can purchase property Directly or go for Sect0ral stock picks and PMS.
The new year has brought good news for almost all car manufacturers, with market leader Maruti Suzuki, Hyundai Motors, Tata Motors, Mahindra & Mahindra, General Motors and even Fiat, posting their highest monthly sales since their inception.
Half of Reliance Industries Ltd’s (RIL’s) KG-D6 additional gas production will go to the power sector. The Empowered Group of Ministers (EGoM), headed by Finance Minister Pranab Mukherjee, has finalised consumers for the 50 million standard cubic metres a day (mscmd) of gas that RIL would produce beyond the initial 40 mscmd for which customers had been decided earlier. The fertiliser sector has been allocated 15.3 mscmd out of the initial 40 mscmd gas production.
Will take into account the changed needs of both countries.
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.
A move is afoot to transfer a major shipyard to the Defence Ministry, a step aimed at creating capabilities to construct nuclear submarines.
Ecuador"s energy minister has announced that Quito has signed an agreement with Moscow to develop nuclear energy "with solely peaceful purposes."
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.
Deal values exchange at Rs 11,848 cr
Power engineering solutions provider Bilpower Ltd today said its subsidiary Tarapur Transformers is planning to enter capital market with a public offer and would file draft papers with Sebi by next week.
The Delhi High Court today issued notice to veteran politician and former Andhra Pradesh Governor N D Tiwari on a paternity suit filed by a youth claiming to be his biological son.
The Planning Commission today said it will start interacting with Union ministries over the next two to three weeks over their demands for gross budgetary support for the next fiscal, amid reports that ministries have asked for a steep hike in resources in the Plan outlay.
Tata Group Chairman Ratan Tata today said that deadline for his retirement was still intact, but before hanging his boots he would like to find a successor.
Food inflation, as measured by the Wholesale Price Index (WPI), rose to 19.83 per cent for the week ended December 19 primarily due to rising prices of potatoes, pulses and other vegetables. Food inflation stood at 18.65 per cent for the previous week ended December 12 and at 9.38 per cent during the corresponding period in 2008.
Andhra Bank has raised Rs 600 crore by selling bonds in two tranches in current month.
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.
Mobile phones and the internet are seen as the new thrust areas by children’s entertainment companies
Cement makers today reported double-digit growth in January sales driven by increased demand from housing sector, especially of low-cost homes, and infrastructure.
The win-win deal between United Breweries and Heineken opens up a window of growth opportunities for the duo.
City-based PGP Educational & Welfare Society, which runs engineering and arts colleges, is now planning to become an integrated one stop point by including medical education. The trust had already applied for a university status.
FMCG player Colgate Palmolive today said production at its Aurangabad factory has been disrupted as workers have gone on strike since Saturday.
The government is to shortly consider the recommendation to sell three units of Burn Standard Company Ltd, an ailing public sector undertaking.
The prices of flat steel — used in automobile and consumer durables — are set to increase by Rs 700-1,500 a tonne from January 1, after showing a soft-to-downward trend in the last five months.
Under attack for its climate policy for Copenhagen summit, the government today said India will not accept any legal binding on emission cut and rejected any proposal that would put a cap on the carbon emission.
Will leave for Denmark on December 17
Ahead of the Copenhagen summit on climate change, India today announced that it would reduce carbon emission intensity by 20-25 per cent by 2020 on the 2005 levels through a series of policy measures, including mandatory fuel efficiency standards on all vehicles.
Recovery from the global economic downturn is faster in India compared with other countries in the world as consumers here are more willing to spend, says a survey.
Country’s biggest steel producer, Tata Steel, reported a consolidated quarterly net loss owing to lower demand and weak performance of its European unit Corus.
The Prime Minister"s economic advisory panel today said inflation may cross the six per cent mark by the end of this fiscal and managing food prices will be the biggest challenge for policy makers in the short run.
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
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.
Expressing concern over the rising food prices, the Reserve Bank of India (RBI) today said its move to ask banks to keep more cash with it was a carefully weighed decision to strike a balance between growth and inflation as it will not put an immediate pressure on interest rates.
Terrorist attacks are becoming increasingly sophisticated and consistently exploiting India’s gaping security loopholes — both on terra firma and in cyberspace. AK-47s and M-series weapons apart, the attack on India’s financial capital Mumbai revealed that militants not only use emails and exploit wireless technologies but also use satellite phones (satphones) and Global Positioning System (GPS) maps to chart their entry and escape routes.
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.
With the availability of the 3G spectrum, about 275 million Indian subscribers will use 3G-enabled services, and the number of 3G-enabled handsets will reach close to 395 million by 2013-end, estimates the latest report by Evalueserve, a provider of knowledge process outsourcing (KPO) services.
Amid rising hopes of global economic turnaround Indians have emerged as an optimistic lot than their Chinese counterparts when it comes to trust in business.
The United States and China today pledged to work together to fight climate change and promote free trade as they set the stage for an era of closer cooperation between the Pacific giants.
The government today said it has initiated several projects to develop high-temperature tolerant superior foodgrain varieties and also to study the impact of climate change on agriculture.
Finance Minister Pranab Mukherjee today announced the launch of the National Skill Development Corporation (NSDC) that aims at training about 500 million people by 2022 to meet the growing demand for skilled workforce in the country.
Diversified auto component maker RICO Auto is looking to achieve Rs 1,000 crore turnover this fiscal on the back of investment in new models and sales growth in both domestic and overseas market.
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.
With more infrastructure projects needing funds, India Infrastructure Finance Co (IIFCL) expects a 50 per cent rise in disbursals to Rs 4,900 crore in 2009-10. Last year, it had disbursed Rs 3,200 crore.
AV Rajwade / New Delhi December 28, 2009, 0:57 IST
Steel Minister Virbhadra Singh today said the proposals for diluting stake in two state-run companies SAIL and NMDC will soon be taken to the Cabinet for its approval.
Enthused by robust performance of the economy in the second half of 2009-10, Finance Minister Pranab Mukherjee today said fiscal deficit would not exceed the target of 6.8 per cent of the gross domestic product (GDP).
Reacting to the Centre’s announcement of discussing the Telangana issue further, 70 legislators cutting across party lines on Thursday decided to resign in protest against the government’s action.
Paving the way for availing concessional finance, the Orissa government and its financing arm, Orissa State Finance Corporation (OSFC) today inked a tripartite agreement with Small Industries Development Bank of India (SIDBI).
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).
Markets opened weak this morning following cues from the Asian markets. The Securities and Exchange Board of India’s (Sebi’s) move against Reliance also dampened the sentiment. The stock slipped below the Rs 1,000-mark in early trades.
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.
AP Assembly adjourns till Monday in the wake of 117 legislators resigning over the Telangana issue.
Baltic Dry Index touched 4,381 on Tuesday, a 14-month high.
The Shipping Corporation of India Ltd. (SCI) accepted delivery of a Very Large Crude Carrier, m.t. Desh Vishal, on 25th June, 2009.
*What was founded by Darbari Seth of Tata Chemicals in 1974 to find solutions to energy efficiency?
Pharma firm Lupin today said it will borrow up to Rs 500 crore from corporate bodies and various financial institutions.
Mid-size steel maker Uttam Galva Steels said today it is not opposed to merger with the world"s largest steel producer ArcelorMittal and is open to all options aimed at taking the company to "new heights".
Tata Motors, the third biggest player in the passenger car market in the country, is aiming to double its market share in the utility vehicles (UVs) segment in Orissa from eight per cent at present to 16 per cent in the next few months.
Hinting at the recovery of the economy from the impact of the economic slowdown, the collections of commercial taxes in Orissa surged by 18.73 percent in November 2009 compared to the same month in the previous fiscal.
Prices have firmed up by Rs 5-10 a bag in the region.
Significant new capacities in the coming months could depress cement prices leading to a drop in profitability
Abdul Karim Telgi, the main accused in the multi-crore fake stamp paper scam, and two others were today awarded 10 years" rigorous imprisonment in two separate cases by a CBI Court which also imposed a fine of Rs 50 lakh on each of them.
In the face of alleged multi- crore rupee kickback, which is being probed by CBI, the government is considering cancelling power PSU NTPC’s Rs 2,000-crore contract with a Russian equipment firm.
Auto maker Mahindra & Mahindra today reported a net profit of Rs 843.6 crore for the second quarter ended September 30, 2009, driven by good sales in both automotive and farm equipment sectors.