Public Company
Has capital requirement of Rs 50,000 cr over the next five years.
Even as some sections of industry found the 75 basis points (bps) increase in the cash reserve ratio (CRR) more than expected, the government commended the Reserve Bank of India (RBI) for the “right move” and said it would not result in an immediate increase in interest rates. It said the Reserve Bank had aptly acknowledged the need for paying attention to inflation as well as growth.
Jeera future prices are likely to firm up in January as there is a possibility for renewed export demand in the market. The demand from overseas market is expected from first week of January 2010 and this may support the price to strengthen.
Jeera future prices are likely to firm up in January as there is a possibility for renewed export demand in the market. The demand from overseas market is expected from first week of January 2010 and this may support the price to strengthen.
Thousands of potato farmers in the potato belt of Uttar Pradesh have been forced to give up their traditional crop, owing to enormous fertiliser and Di-Ammonium Phosphate (DAP) shortage, expensive seeds and irrigation problems this season. The potato prices had risen to giddy heights of Rs 1,800 per quintal during the sowing season, forcing the small and marginal peasants to search for alternative crops, being unable to afford such pricey seeds.
Suzlon Energy Limited (SEL), India’s largest wind turbine manufacturer, has completed and commissioned a 19.5 MW wind farm project for state-run Gujarat Mineral Development Corporation (GMDC) at the Maliya –Miyana site in Rajkot district of Gujarat.
The Indian bourses continue to trade flat. The Sensex is now at 17,600, down 15 points.
India said the Chinese government had assured it no dam on the Brahmaputra was proposed
China should cease ‘such activities’ forthwith: MEA.
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.
The government will not sanction any Leave Travel Allowance (LTA) for an employee who uses personal car or taxi as mode of transport.
National carrier Air India today said its passengers bookings in the last two days have regained the 26,000-28,000 level it had registered before the five-day stir by its senior pilots.
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.
The Nifty tested the support level of 4,910 and later recovered on the back of strong openings in European markets and firmness in Dow Jones futures. Telecom stocks tumbled on profitability concerns while buying in FMCG, metal and banking shares helped indices register decent gains by the end of the day.
Unlike the Chicago economists under Milton Friedman who argued that the unrestricted operation of private enterprise—seen as the most efficient form of economic organisation—was essential for economic development and that prices should be determined purely by market forces and inflation controlled by means of controlling money supply, Keynes, the most influential macroeconomist of the 20th century, had argued in his classic work, The General Theory of Employment, Interest and Money, that there is uncertainty in the world—uncertainty that cannot be reduced to statistical probabilities and has come to be described as “unknown unknowns.” This irreducible uncertainty, he said, lay behind panics and bouts and the instability of market economics that we see around us today. Robert Skidelsky, in his three-volume study of Keynes (1994), reminded us that the master had warned us against relying on econometric models of his own theories:
The government will soon invite bids for 10 mega highway projects under, pubic-private partnership, and is in the process of making feasibility reports.
Stimulus exit looms as Pranab waits for third quarter.
- Malegaon accused wants to contest LS polls
The Joint Action Committee(JAC), spearheading the Telangana agitation, received a boost today with Telugu Desam leaders from that region agreeing to join it, even as Congress ministers demanded a ‘time-frame’ for the formation of a separate state.
GHCL promoter Sanjay Dalmia appears to be in control of the country’s largest soda ash maker, and is believed to have increased his shareholding significantly above the 18.5 per cent he held till recently when a battle for control of the company raged.
With trends throwing up a hung Assembly in Jharkhand, Congress today said people expect its secular alliance to form a government in the state as they have elected them as the largest group.
Natco Pharma touched a high of Rs 134 and a low of Rs 124. The stock finally ended with a 5.2% at Rs 129. Around 2.96 lakh shares were traded on the BSE as against the two-week average trade of 1.06 lakh shares.
Riding on the back of rising auto sales last month, the non-life insurance industry has recorded a marginal rise in premium collection.
Country"s largest private sector lender ICICI Bank has sold its points of sale terminals that accept the debit and credit card payment to First Data Corporation for $80 million (about Rs 400 crore).
The Goods and Services Tax (GST), the new tax regime, would have four slabs and these were likely to be unveiled within 15 days, Chairman of the Empowered Committee of State Finance Ministers Asim Dasgupta said today.
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.
Twelve journalists, including one in India, were killed in South Asia this year, mostly in conflict areas, according to a report released today by an organisation working for the rights of media persons.
The Ministry of Human Resource Development (MHRD), at the 56th meeting of the Central Advisory Board of Education (CABE), chalked out an extensive agenda for education in the country, based on the principles of expansion, inclusion and excellence.
As India issued a travel advisory for Australia following unbated assaults and killing of its citizens, Deputy Prime Minister Julia Gillard insisted that her country is safe for all international students and said "acts of violence" occur in big cities around the world.
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.
Leading Indian rock bands will perform today in New Delhi for spreading awareness about climate change
External Affairs Minister S M Krishna today said the government would go by the home ministry’s guidelines on the new visa rules and said differences over such issues should not be discussed in public.
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.
Pakistan has said "political compulsions" and "divisions in Indian polity" were preventing India from holding dialogue with Islamabad, after the foreign ministers of the two countries avoided a meeting despite being under the same roof.
Seeking to strengthen bilateral cooperation in the petroleum space, India has called for partnership with companies in the African hydrocarbon sector.
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.
The government today said Hindustan Copper would ramp up production to 11 million tonnes per annum by 2017 with an investment of Rs 3,500 crore.
Rrishi Raote / New Delhi October 10, 2009, 0:59 IST
- Vidal, withal - Energy sleuth - Pulp fiction - Hello, China - Mountain lines - Prefaces
Mukesh Ambani, chairman and managing director of Reliance Industries Ltd (RIL), will set up a new age world-class university in India.
The toll in the fire at Indian Oil Corp"s (IOC) fuel depot outside the Pink City may rise to nine as six missing employees are now feared dead, even as fire fighters and the Army worked to contain the blaze that has burnt about Rs 150 crore worth of auto fuel.
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 traded near the lowest this month on speculation that the dollar will continue to advance on data pointing to a recovery in the US jobs market.
Reliance Industries (RIL), which raised Rs 2,675 crore through the sale of treasury shares on Monday, is looking to generate a similar amount over the next few weeks by selling more stock to institutional investors.
The Rs 1-lakh wonder Nano will soon enter the elite league thanks to auto design firm DC, which today said it will unveil redesigned version of the world"s cheapest car within the next two months with premium price tag of Rs 1 crore.
Hinduja Group-promoted Ashok Leyland today said it will hike prices of its commercial vehicles shortly due to rising input costs.
India"s economy is expected to grow between 5.2 per cent and 5.8 per cent in 2009-10, much lower than last year as the agriculture output is estimated to decline significantly because of drought in 276 districts of the country, an industry paper said.
In signs of easing labour market situation in the US, the number of first time claimants for jobless benefits declined by 26,000 to 550,000 for the week ended September 5.
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.
India faced the curse of drought and floods in 2009 that saw consumers paying towering prices for vegetables, pulses, sugar and foodgrains, and the shortage of supplies punctured the euphoria over the return of the Congress-led government in May.
In the long run,” John Maynard Keynes had famously said, “we are all dead.” Keynes may not have been quite dead, but he had lived a ghostly half-life in the corridors of central banks and within the academia for decades. Now with the failures of unbridled capitalism on a global scale, he is back in fashion, along with Marx. John Cassidy, the finance correspondent for the New Yorker has come with How Markets Fail: The Logic of Economic Calamities (Allen Lane/Penguin £25), which draws heavily on Keynes to recount the story of America’s housing boom and the failures of regulators and self-deception of bankers that led to the present financial crisis. The book is a sequel to Cassidy’s earlier book DotCon that dealt with the stupidities of the stock market bubble in the late 1990s, but both deal with one central idea: the belief that society is best served when individuals are left free to pursue their self-interest was “Utopian economics” and led to disaster because of “the crooked timber of humanity”, and the uncertainty that is inherent in any human enterprise.
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.
Dilip Kumar Jha / Mmbai August 11, 2009, 0:24 IST
All successful publishers and authors have an impeccable sense of timing and generate literature with an eye upon the calendar. So it isn’t surprising that we have a flood of books on the fall of the Berlin Wall that started the process of disintegration of the Soviet Union and the collapse of communism in Europe. But what we have is an embarrassment of riches which try to unravel why such an all-embracing system that Alexander Solzhenitsyn described as “all pervasive, paranoid, oppressive, incompetent, lethal” in the latest edition of The First Circle (Harper, $18), came to an unexpected end. Almost everyone had expected that it would have to be killed; instead it collapsed, as if a house had fallen in on itself. What happened?
The government is committed to financial sector innovations and reforms, a senior government official said.
The recession-hit British economy shrank less than expected at 0.7 per cent in the second quarter of this year, indicating that the worst of the financial turmoil could well be over for the country.
India’s cotton exports are likely to rebound to 1.4 million tonnes in 2009-10 (October-September) at the cost of exports from the US, which are forecast to fall 20 per cent to 2.3 million tonne on year, according to International Cotton Advisory Committee (ICAC).
- BofA likely to pay bonuses close to 2007 level - Future Group pulls the plug on "Bijli Ghar" - PowerMin wants gas at $2.34 for NTPC - Another RIL cash raising on anvil - RIL to drill six new wells in KG-D6 block this year - Reliance Industries: Filling its coffers
Vanita Kohli-Khandekar / New Delhi December 22, 2009, 0:34 IST
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.
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 said creation of jobs for women under the state-sponsored schemes fell to 72,701 in 2008-09 from 3,62,918 in 2007-08.
The future for the IT industry appears bright and the sector is likely to post double digit growth next year, industry veteran S Ramadorai said here today.
The paper industry may recover its losses from the next quarter due to an expected rise in demand because of robust industrial and economic growth. The industry was suffering from overcapacity, low demand and competition from cheap imports. While no fresh capacities have been added in the recent past except in the writing and printing paper segment, analysts hope the demand to improve soon.
Glass, Lewis & Co, LLC, an independent proxy advisory firm has recommended the shareholders of Taro Pharmaceutical Industries to vote against the proposals made by Taro’s board of directors in the upcoming annual general meeting of Taro’s shareholders scheduled for December 31.
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.
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.
With the prevailing acute power shortfall in Orissa set to continue till July 2010, the power distribution companies have suggested for load regulation in various feeders.
The swine flu death toll touched 108 today with two more persons succumbing to the disease.
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.
Sun Pharmaceuticals has succeeded in invalidating a key patent of Eli Lilly"s block buster cancer medicine Gemzar (gemcitabine injection) in the US market. The company will now be able to launch a low cost version of the medicine in the world"s largest drug market in November 2010.
British retail major Marks & Spencer is looking at scaling up its India operations and plans to open at least 50 more outlets in the country over the next few years.
Finance Minister Pranab Mukherjee today said recommendations of the 13th Finance Commission, which submitted its report to President Pratibha Patil earlier in the day, will be reflected in the Budget 2010-11.
It couldn’t have been more apt. The most generous tribute to former ONGC chairman Subir Raha comes from somebody with whom he had a hugely uneasy relationship. After Raha lost more-than-a-year-long battle with cancer on Monday, former petroleum minister, Mani Shankar Aiyar, said he found in Raha “a man worthy of my steel, particularly when we disagreed”.
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.
JMM chief Shibu Soren was today sworn in as chief minister of Jharkhand for the third time at a ceremony which was skipped by top leaders of coalition partner BJP, and will take a floor test in the Assembly on January 7.
2009 saw a high-voltage legal battle between the Ambani brothers over the gas dispute reaching the Supreme Court with a judge withdrawing from the bench.
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.
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.
Telugu Desam Party MLAs from Telangana region have decided to walk out of the newly-formed Telangana Political Joint Action Committee and carry out the agitation for a separate state on their own.
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.
Eleven Congress MPs from Telangana today decided to resign from the House in protest against the Centre"s decision that appeared to put the separate state issue on the backburner.
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.
Zee Entertainment Enterprises (ZEEL) today said its board has approved the share swap ratio for the merger of the company"s subsidiary ETC Networks with itself.
At a time when merger and acquisition (M&A) activity is still recovering, companies are finding solace in private equity (PE) funds for acquisitions. And, PE funds seem keen to participate in such deals.
Two top PSUs under the steel ministry -- SAIL and NMDC -- will enter into an agreement on Monday to mine Arki Limestone Mine in Himachal Pradesh, the home state of Steel Minister Virbhadra Singh.
Major steel makers are facing inordinate delays in acquiring land in the east.
Construction work on the onshore LNG terminal, coming up at Puthuvype, near here will be completed by December, next year.
Optimistic on job losses, but closely watching the situation, says overseas Indian affairs ministry
Amid rising food prices hitting the household budget, Finance Minister Pranab Mukherjee today said he has no "instant solution" to the problem.
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.
Leading steel companies like SAIL JSW, Essar and Bhushan Steel may hike prices next month to cash in on the demand surge in domestic markets.
Major steel makers are facing inordinate delays in acquiring land in the east.
Prime Minister Manmohan Singh and Finance Minister Pranab Mukherjee today said the government would like to ‘take forward’ financial sector reforms like insurance and pension, but added caveats that suggested the road ahead was not smooth.
A K Bhattacharya / New Delhi December 30, 2009, 0:02 IST
Finance Minister Pranab Mukherjee is leaving for Saudi Arabia today to attend a meeting of the joint commission formed by the two countries to promote bilateral ties.
The Finance Ministry today expressed hope that the Reserve Bank in its monetary policy review next week will continue the current soft policy stance.
Trashing the contention that the Pokhran-II nuclear tests in 1998 were a failure, India’s top scientists today said all objectives had been achieved and the country now has the deterrence capability of up to 200 kilotons.
Plan panel aims at making data accessible in analytical format
The country"s manufacturing sector is likely to witness a rise in hiring activity in the last three months of this year due to an expected increase in demand, says a report by Japanese securities firm Nomura.
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.
Fresh trouble appears to be brewing over non-vacation of spectrum by Defence Ministry, a move that could frustrate the Telecom Ministry"s scheduled auction of third generation (3G) radio frequency next month.
The Indian private industries who are keen to participate in the large growth of civil nuclear power programme in the country should immediately concentrate on the manufacturing of equipments to become a major N-supply chain provider and later even exporters, Chairman, Atomic Energy Commission, Dr Anil Kakodkar said.
India today announced it has designed a new version of Advanced Heavy Water atomic reactor which will use lesser low enriched uranium along with thorium as fuel and having next generation safety requirements.
Strengthen the immune system with the right foods when down with dengue or swine flu.
A sneeze raises eyebrows and coughing makes people nervous in the city, which has emerged as the epicentre of swine flu with 100 casualties.
The Supreme Court today issued notice to the Centre and Maharashtra government on a petition seeking laying down of security guidelines for hotels to avoid any terror attack like the 26/11 strikes in Mumbai.
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 government on Thursday set a schedule to examine the problems ailing the insurance sector in the field of accident insurance. This comes close on the heels of the Supreme Court suggesting the government to create a special fund for compensating accident victims by charging a cess on sale of petrol or a one-time premium on sale of new motor vehicles.
The strong 700-member Bombay Stock Exchange (BSE) brokers forum yet again expressed its reservation against the extension of trade timing by both BSE and the National Stock Exchange (NSE) from January 4. Last week, both the bourses had to postpone their decision to open markets by 9 am after a sharp outcry against the decision from market participants.
Financial services firm India Infoline today said it plans to begin mutual funds operations in the first quarter of the next fiscal, after securing final approval from capital market regulator Sebi.
Union ministries have together sought a whopping 82 per cent increase in gross budgetary support (GBS) for Plan outlay in fiscal 2010-11 over budget estimates for 2009-10.
Leslie D"Monte & Kirtika Suneja / New Delhi December 5, 2009, 0:15 IST
Shobhana Subramanian / Mumbai December 4, 2009, 0:53 IST
Ending an almost two-year-long dispute over partnership with the Vijay-Mallya owned United Breweries Ltd (UBL), Heineken NV, the world"s third-largest brewery firm, today agreed to permit UBL to brew and market the Heineken brand in India.
United Breweries Holdings (UBL) has forged an alliance with Heineken to distribute the Heineken brand in India. The partnership in India is expected to drive growth in one of the world"s fastest growing beer markets. As part of the agreement, Heineken will acquire Asia Pacific Breweries (APB) India -- Asia Pacific Breweries (Aurangabad) and Asia Pacific Breweries-Pearl -- for Euro 25 million (Rs 174 crore). Following completion of this transaction in the first quarter of 2010, Heineken intends to transfer these businesses into UBL during 2010. APB is a joint venture partnership between Heineken and Fraser and Neave.
Cement makers today reported double-digit growth in January sales driven by increased demand from housing sector, especially of low-cost homes, and infrastructure.
Business Standard / New Delhi December 31, 2009, 0:43 IST
More than lobbying for concessions, CII strove to be an instrument of change.
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.
The fall in domestic air traffic seemed to have stabilised with official figures today showing a marginal increase of 30,000 in passenger load in August from the previous month.
Normal life was disrupted in non-Telangana regions of Andhra Pradesh, as the bandh called by the All party Joint Action Committee (JAC) in support of United Andhra Pradesh began today.
In the shadow of 26/11, the Home Ministry took measured steps to bring changes in the complex intelligence-security system during 2009 that saw India pass through without any major terror attack and it could be in for some reforms in the new year if P Chidambaram has his way.
FMCG player Colgate Palmolive today said production at its Aurangabad factory has been disrupted as workers have gone on strike since Saturday.
Tata Steel Managing Director H M Nerurkar today said the new year would be equally challenging as last year as the global recession is still continuing.
A parliamentary panel has rapped the steel ministry for under-utilisation of funds by Public Sector Undertakings (PSUs) like SAIL and RINL, and said the Budgetary Estimates (BE) may be “inflated”.
The latest calendar from the rural development ministry has a picture of the minister and two ministers of state. The third minister of state was upset enough to call up the minister, CP Joshi, to protest. The minister has now ordered that the calendars not be circulated — a fresh calendar will soon be sent around.
The country"s coffee exports plummeted by 22 per cent to 2.41 million bags in the first 11 months of the 2008-09 crop year as Indian prices were ruling higher than competing countries like Vietnam and Columbia.
The Centre today asked South Korean steel maker Posco’s Indian arm to apply afresh for permission to set up a 12-million-tonne-per-annum (mtpa) plant in Orissa, held up for four years over land acquisition.
The world"s largest steel maker ArcelorMittal may cut 10,000 jobs globally next year and plans to reduce costs in order to regain its lost market share particularly in Europe, a media report says.
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.
The Centre today asked South Korean steel maker Posco’s Indian arm to apply afresh for permission to set up a 12-million-tonne-per-annum (mtpa) plant in Orissa, held up for four years over land acquisition.
Posco India has sought more time from the Centre for implementing the Rs 54,000-crore SEZ project at Jagatsinghpur in Orissa, as the South Korean steel giant could not get land due to protests by tribals.
Posco India has sought more time from the Centre for implementing Rs 54,000 crore SEZ project at Jagatsinghpur in Orissa, as the South Korean steel giant could not get land due to protests by tribals.
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.
Sunil Jain / New Delhi January 01, 2010, 0:35 IST
After hiking prices for the last two consecutive months, state-run Steel Authority of India (SAIL) has said it may not increase prices further in view of a downward trend in the international market, especially China.
IT consulting firm KPIT Cummins today said it will increase its focus on the Chinese market and plans to tie-up with more automobile companies and components makers for providing software solutions.
Sajjan Jindal-promoted JSW Steel is collaborating with JFE Steel Corporation, the world"s sixth biggest and Japan"s second largest steelmaker, for a manufacturing and mutual shareholding agreement.
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.
Auto components maker Mann and Hummel Filter, a subsidiary of German Mann and Hummel Group, today said it will invest Rs 100 crore in its Indian operations in the next 3-5 years.
After a gap of almost two months, inflation dipped marginally to 0.7 per cent, but there was no respite for people as prices of items of common consumption, like potato and vegetables, continued to rule high.
When the year 2009 dawned, there was widespread apprehension on how the export sector would cope with the recession in the rich countries. Throughout the year, the government took various steps to help exporters and, as a result, the mood at the year-end is far more upbeat, although some sectors like textiles, leather and handicrafts still face uncertain prospects.
The United States today said it is open to bilateral talks with North Korea if Pyongyang takes some concrete steps to fulfill its commitments.
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.
Pinched by rising raw material prices, fast moving consumer goods (FMCG) companies, especially manufacturers of packaged foods and soaps, may raise prices or reduce grammage per pack over the next one or two quarters.
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.
Finance Minister Pranab Mukherjee today directed the Income Tax Department to make all efforts to achieve the revised direct tax target of Rs 4 lakh crore to contain the critical parameters of the economy, especially when there was slippage in indirect tax collections. He said this while addressing the All-India Conference on Tax Deduction at Source (TDS).
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.
T E Narasimhan / December 11, 2009, 0:39 IST
Tuticorin-based Tamilnad Mercantile Bank (TMB) has set a target of Rs 20, 000 crore business by March 2010 from the present Rs 16,000 crore.
The Drug Controller General of India (DCGI) has issued a show-cause notice to GlaxoSmithKline Pharmaceuticals (GSK) for launching an advertisement campaign in the national media on cervical cancer vaccine Cervarix.
IT infrastructure provider Birla Shloka Edutech today said it has fixed the price band of it follow-on-public offer between Rs 45 and Rs 50.
The top 10 companies saw their market capitalisation dipping by over Rs 40,000 crore last week with NMDC losing the most.
India is not facing any shortage in onion supplies and prices of the key vegetable have now started easing, Minister of Commerce and Industry Anand Sharma said in the Lok Sabha today, replying to a member"s query.
The government today admitted in Rajya Sabha that almost half of 951 central sector projects are delayed resulting in cost overrun to the tune of over Rs 40,000 crore.
A bill on accountability of judges is likely to be introduced during the current session of Parliament, the Government today told the Rajya Sabha.
Long delays in environment and forest clearances are turning out to be a major hindrance to implementation of various development projects.
As a political backlash erupted in Andhra Pradesh over the decision to put Telangana on the backburner, the Centre was today said to be considering setting up a States Reorganisation Commission (SRC) amidst pressure mounted by pro-Telangana leaders.
The rebound in the fortunes of the commodities sector as well as the impact of government concessions/spending in areas like automobiles have ensured Q3 sales growth is once again positive. The picture remains bright even after removing Reliance from the sample since its 92 per cent top-line growth biases it — this reduces top-line growth in the September quarter from 17.4 per cent to a still healthy 12 per cent.
China: For China, 2009 was a momentous year. The People"s Republic turned 60, and Beijing staved off economic disaster with an unprecedented 4 trillion yuan ($585 billion) stimulus package. The stage is set for an eventful 2010. If all goes well, China’s GDP is set to become the world"s second largest. But all may not go well.
Piramal Life Sciences, a research and development (R&D) arm of Piramal Group is investing Rs 200 crore in the next two year"s period for its ambitious programme to discover and develop new chemical entitities (NCEs) and Novel Drug Delivery Systems (NDDSs), a top company official said here.
Cement prices have witnessed the greatest fall of about 5-10 per cent across the country in the last two months. Moreover, in western and southern India, where a large amount of new stock is still arriving, the non-trade prices have been cut by 20-30 per cent to Rs 160-180 a bag.
Even as legal experts refuse to buy government’s claim that 350 tonnes of waste is no source of pollution and factory premises pose no health risk to humans, a study is going on to incinerate the waste in some cement kiln. According to sources, a final report would come by end of this month or in January. If a well placed government source is to be believed, the Central Pollution Control Board and National Council for Cement and Building Material are in dialogues over the issue.
Industrialisation, technology, urban need make commercial water supply a growing opportunity.
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.
ArcelorMittal today said it has not made any money from its excess carbon credits, bulk of which was purchases during the global economic crisis.