Public Company
The Sensex has dipped further to a low of 17,586. It is now up 61 points at 17,601.
Business Standard / New Delhi January 19, 2010, 0:34 IST
Vice President Hamid Ansari and Prime Minister Manmohan Singh today visited the CPI (M) headquarters here to pay homage to Marxist veteran Jyoti Basu.
Samajwadi Party leader Amar Singh today said as his resignation from key posts was not yet accepted by Mulayam Singh Yadav, he would not be able to actively participate in party-related issues.
Senior Samajwadi Party leader Amar Singh today ruled out withdrawal of his resignation from party posts, saying he would "not slog" for the organisation the way he used to.
Jyoti Basu remained as popular in death, as he was when alive. The Marxist leader"s far-reaching appeal ensured that the country"s political establishment, irrespective of party affiliations, paid their last respects to the CPI(M) patriarch on Tuesdsay, save Trinamool Congress chief Mamata Banerjee.
Bangladesh Prime Minister Sheikh Hasina today left for Kolkata along with several Cabinet ministers to attend the funeral of Marxist patriarch Jyoti Basu.
Sical Logistics, engaged in port handling services, today said it has entered into an agreement with Japan"s Mitsui O S K Lines to form a joint venture company to operate the automotives yard at the Ennore Port near Chennai.
Aditi Phadnis / New Delhi November 28, 2009, 0:00 IST
Nifty ends below 5,000 as players square up pending futures positions.
Asian stocks rose, giving the MSCI Asia Pacific Index its biggest advance in two weeks, as the Group of 20 nations agreed on steps to shore up the financial system, while merger speculation boosted technology shares.
India said today that security considerations were delaying its participation in the tri-nation Iran-Pakistan-India (IPI) gas pipeline, but it had not shut its doors on the project.
China should cease ‘such activities’ forthwith: MEA.
Wiser from last year"s free-fall, realty firms discovered a new mantra in "affordable housing" and found help from banks who offered low interest home loans to build their businesses in 2009.
To support continued growth and cut its costs, Rupert Murdoch’s media company, News Corporation, has decided to restructure its Asian broadcast businesses into three units — STAR India, STAR Greater China and Fox International Channels (FIC).
Financial services firm Edelweiss Capital today announced that it had entered into a joint venture (JV) agreement with Japanese insurer Tokio Marine Holdings for a foray into life insurance.
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).
After the Insurance Regulatory Development Authority (Irda) capped charges on unit-linked insurance plans (Ulip), insurers have started trying their hand at low-cost products. Aegon Religare, for example, is advertising its Invest Maximiser Plan as ‘Sabse Sasta Ulip’. And, Reliance Life Insurance has come up with Premier Life.
JSW Energy proposes to enter the capital market with an initial public offering (IPO) to raise nearly Rs 3,000 crore in the near future.
JSW Energy has provided the much-needed lifeline for the group’s Rs 35,000 crore project in Bengal, by taking up the power project .
The All India Regional Rural Bank Employees" Association (AIRRBEA) on Sunday demanded the de-linking of the Regional Rural Banks (RRBs) from the commercial banks sponsoring them.
The much-awaited white paper on railways is likley to be tabled in the coming session of Parliament, bringing forth its financial position and former minister Lalu Prasad"s claim of turning around the PSU behemoth.
Overseas borrowing by India Inc declined by around 9 per cent in November to $2.35 billion compared to the previous month.
Nilanjana S Roy / New Delhi October 6, 2009, 0:25 IST
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:
Two human rights activists have been arrested here by the West Bengal Crime Investigation Department for their alleged links with Maoists and PCPA top brass in Lalgarh. Gana Pratirodh Committee secretary Raja Sarkhel and state secretary of the same human rights organisation Prasun Chatterjee were picked up from their residence in Jadavpur in the southern part of the city last night.
With an aim provide innovative products, services and solutions to the rural poor, Villgro, a social enterprise incubator is set to launch "Wantrapreneur 09" Business Plan Competition, which challenges entrepreneurs to come out with innovative technology, solutions (products / services) with direct application at the rural level.
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.
The government today announced approving eight projects, envisaging an expenditure of Rs 10,883.89 crore, in the highways sector.
GJEPC was planning to showcase its range in Dubai and Sharjah.
Opens new store in Nashik
The stock markets rose sharply on Monday on the back of strong gross domestic product (GDP) numbers and firm global cues. The Sensex closed at 16,926, higher by 294 points, and the Nifty re-gained the 5,000 mark to close at 5,026, up 84 points, on a steady day of trade. The Sensex had surpassed the 17,000 mark (17,096) in intra-day trades.
While many politicians lobby to get a Rajya Sabha berth, former Lok Sabha Speaker Somnath Chatterjee has politely turned down a proposal from the government to become a nominated member of the Upper House. According to top sources in the government, Prime Minister Manmohan Singh was keen to bring Chatterjee — who played a crucial role during the government’s tension with the Left parties over the Indo-US nuclear deal and defied his party’s diktat to resign from the Speaker’s chair — in the Rajya Sabha. But Chatterjee told Congress managers that after having been Speaker, he did not see merit in occupying the back benches of the Rajya Sabha.
Public sector telcos BSNL and MTNL together have Rs 41,471 crore cash on hand as of September 2009, the government said today.
Palak Shah / Mumbai November 26, 2009, 1:21 IST
The Steel Ministry is planning to set up a special arm under Steel Authority of India (SAIL) to spearhead overseas acquisitions, particularly in the mining sector.
GMR Infrastructure, the Bangalore-based infrastructure major, today announced sub-division of all its equity shares of Rs 2 each into 2 equity shares of Re 1 each per share. A decision to this effect was taken at the board meeting held here today. The stock split is, however, subject to the approval of members of the company at the forthcoming annual general meeting.
Haryana Chief Minister Bhupinder Singh Hooda today indicated that an FIR under abetment to suicide complaint filed two days back by Ruchika"s brother may be registered once investigations are completed.
Senior Congress leader Pranab Mukherjee today steered clear of questions with which party the Congress would align to form the next government in Jharkhand which is heading towards a hung Assembly.
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.
In the words of our present Chief Justice of India,“….. the citizens’ faith in the judicial system will begin to wane because justice delayed is justice forgotten, excluded and finally discharged “ The quote certainly does not auger well if one were to look at pendency of tax cases in different layers of our judicial hierarchy – 28,000 cases in high courts with disposal rate of roughly 6000 each year. Ironically, the situation is worse in Mumbai, Delhi, Kolkata & Chennai where the wait time ranges between 10-15 years. Not to forget the figure of 2 lac crores often debated in the Parliament as arrears of tax in dispute. These could be more staggering in the future.
Hindalco Industries, India’s largest aluminium maker, plans to sell shares to institutional investors at Rs 130.90 each to raise Rs 2,900 crore this week. The board of directors met here today to fulfill the formalities before the issue is opened.
Business Standard / New Delhi November 19, 2009, 0:08 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 proposed dual goods and services tax (GST) would subsume more taxes than envisaged and eventually all the indirect taxes, as a phased approach was being adopted, said chairman of the empowered committee of state finance ministers, Asim Dasgupta.
The Delhi & District Cricket Association (DDCA) and the Board of Control for Cricket in India (BCCI), organisers of Sunday’s India-Sri Lanka cricket match, will have to foot the bill for the abandoned tie as insurance companies are unlikely to pay any claim.
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.
For journalists, pundits and comedians, the end of the year provides an opportunity to look back, fantasise forward and let the creative juices flow.
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.
Australian Prime Minister Kevin Rudd has said that Canberra has bagged three new deals worth $70 billion to export gas to Asia.
A partially-burnt body found in Australia"s New South Wales province last week is believed to be of a 25-year old Indian national, police said today, in what might be the second fatality in a slew of vicious attacks on Indians.
Leading Indian rock bands will perform today in New Delhi for spreading awareness about climate change
Sliding queries from India and strong Australian dollar will lead to up to 10 per cent drop in the number of international university students later next year in Australia, according to a report.
Having a large number of educational and research institutions, Mysore no wonder is a book lovers’ paradise for book sellers, both local and others. A huge number of student population is always looking for textbooks and related books, both new and second hand and to serve them and other buyers, book sellers keep organising book exhibitions regularly at one venue or the other.
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.
Australia today gave a thumbs up to security arrangements for the 2010 Games in New Delhi and said their athletes will travel to India to participate in the October 3-14 mega event.
By far the most important skill in business,” wrote the London Times’s Sathnam Sanghera in a recent column (also carried in this paper), “is the ability to tell a decent anecdote.” I think he’s right, especially when it comes to the old-fashioned way of doing business — face to face. “Frankly,” said Sanghera, “banter should be taught at school alongside Geography and Maths. Nothing will benefit your career more.”
Rrishi Raote / New Delhi October 10, 2009, 0:59 IST
The National Commodity & Derivatives Exchange (NCDEX), the second largest commodity futures trading platform in the country, is launching trading in groundnut (in shell) – Bikaner futures contract on July 10, 2009. These contracts would be available in addition to the existing groundnut (in shell) – Junagadh base contract.
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.
Alfa Laval India, the Indian arm of Swedish Alfa Laval Group, has secured a Rs 70-crore project from Vietnam-based PetroVietnam Group for supplying equipment and engineering solutions for the latter"s ethanol process plant.
India’s energy scenario poses the challenge of investing adequately to narrow the demand-supply gap and reducing import dependence.
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.
Team up with little-known Delhi-based group, Malaysian billionaire but say ‘no view’ taken on their participation.
A reduction of the logistics costs by 1 per cent of the GDP means a saving of over $7.5 billion, according to a report on ‘Competitiveness Through Efficient Logistics’ released by KPMG in association with CII Institute of Logistics.
Rupee rose for the first time in four days on speculation exporters took advantage of the currency’s slide to a six-week low to repatriate overseas income.
Gold futures today rose by 0.29% on sustained buying by traders and speculators on the back of a firming global trend.
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.
Global pharma major Pfizer is to source source 40 off-patent (generic) cancer care products from Bangalore-based Strides Arcolab and sell the products in the United States.
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.
Akash Prakash / New Delhi December 25, 2009, 0:38 IST
Haryana Chief Minister Bhupinder Singh Hooda has urged Nuclear Power Corporation of India (NPCIL) Chairman and Managing Director S K Jain for fast-tracking of pre-project activities and completing the 4x700 Mw Haryana Nuclear Power Project in a shorter time frame.
Indian Oil Corp, the nation"s largest refiner, and other state-run refiners will supply Euro -IV grade petrol and diesel in 13 big cities from April 1, but supply of the cleaner fuel to rest of the country may be delayed by three to six months.
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.
Exporters today appealed to Prime Minister Manmohan Singh to suspend export of raw cotton saying rising prices of the commodity has become a double whammy for textiles industry, hit by the global demand slump.
Cotton exports may rebound to 1.4 million tonnes (MT) in the 2009-10 season as a recovery in the global market is expected to boost demand for the fibre, the International Cotton Advisory Committee (ICAC) has said. “Exports from India could rebound to 1.4 MT,” ICAC said in a statement.
India is unlikely to achieve the $200 billion export target this fiscal due to the continuing global financial crisis, the Rajya Sabha was informed today.
The government today indicated it will continue sops for Indian exporters who have seen a sharp contraction in orders since October last year.
Spurt in prices to be driven by dollar weakness, rise in demand and low supplies.
Oil was mixed in Asian trade today as a weak dollar continued to provide underlying support to prices, analysts said.
Oman Oil Company has paid a premium to pick 26 per cent stake in Bharat Petroleum Corporation"s under construction Bina Refinery Project in Madhya Pradesh.
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 body Ficci has asked the Prime Minister not to shift positions on climate change at the Copenhagen Summit from the original stand of fixing responsibility of cutting greenhouse gas emissions on a per capita basis.
The Indian real estate sector is likely to experience consolidation wherein bigger players may opt for outright buy of smaller firms or forge joint venture or business alliances with them, industry body Ficci said today.
Infrastructure major Punj Lloyd today said it will bid for up to 25 national highway projects, valued at an estimated Rs 40,000 crore, in the next one year.
Spurred by huge demand from power, telecommunication and housing sectors, India’s copper consumption is likely to rise 5-6 per cent this year. The three sectors account for 65 per cent of the total demand in India.
State-run power utility PowerGrid Corporation today said its Rs 2,000-crore follow-on public offer (FPO) is likely to hit the capital market by March 2010.
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.
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.
The benchmark indices rose for the second straight day today with S&P CNX Nifty closing at a 22-month high of 5,278. Nifty January futures closed at a premium to the spot and added 1.05 million shares in open interest through buy-side trades, indicating fresh long build-up. However, the Nifty remained range-bound after opening at higher levels.
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 green building code, termed energy conservation building code (ECBC), is likely to be mandatory for commercial buildings coming up in eight fast growing states in the next two years.
As the Obama Administration moves ahead with its new policy of engaging the Burmese military junta, a top US official today said it will actively consult India along with China on its new strategy.
Prime Minister Manmohan Singh was scheduled to meet President Barack Obama on November 24th and be in Washington for another day after that. Later, after the dates had been fixed, officials here realised the 27th was Thanksgiving and it was very possible officials would be in a holiday mood well before this. So, the dates for Singh’s departure have been advanced and he will meet Obama on the 23rd — even accounting for the holiday spirit, Washington will still be in working mode when Singh’s there.
Two more army jawans tested positive for swine flu here today, raising the total number of people affected by the disease so far to 37 in Jammu and Kashmir.
Israeli drug firm Taro Pharmaceuticals has filed a law suit in a US district court against Mumbai-based Sun Pharmaceutical Industries alleging violation of non-disclosure agreement and misleading shareholders.
Apollo Pharmacy today said it has received licence from the national health regulator Drug Controller General of India (DCGI) for selling Oseltamivir capsules, used in the treatment of Swine Flu (HINI A Influenza).
An exclusive supplier of raw materials and technological advanced machinery for smart card manufacturing, Maze Cards India Pvt. Ltd. plans to now supply modules to Gujarat government for driving license smart cards. The company is in talks with the Gujarat government for supply of modules or chips used in the driving license smart cards.
KEC International, a part of the Rs 15,000 crore RPG group has won orders in Algeria and Abu Dhabi worth Rs 474 crore and Rs 76 crore respectively. KEC will undertake five turn key projects worth Rs 474 crore for CEEG spa in Algeria. The total length of these five projects is 858 km and completion period ranges from 12 to 18 months.
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.
How the cash & carry retailer runs its business
The net profit of Tata Sons declined 19 per cent to Rs 3,054 crore for the financial year ending March 31, 2009 as interest cost increased nearly four times to Rs 504 crore.
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.
Malaysian conglomerate Ascenteus Holdings is looking to raise $40 million - $50 million (Rs 185 crore - Rs 235 crore) via the private equity route in India to part-fund its $400-million mega residential project coming up in Kuala Lumpur.
Honda Motorcycle and Scooter India Limited (HMSI), the market leader in the scooter segment in the country, expects a 17 per cent growth in its turnover in the current fiscal. The company clocked a turnover of Rs 500 crore in 2008-09.
The Nordic region (Norway, Denmark, Iceland, Finland and Sweden), which is now opening up to offshoring as a viable option to sustain its long-established competitiveness, offers an untapped $10 billion outsourced services opportunity for Indian IT companies, said a Nasscom-PricewaterhouseCoopers report.
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.
Drug firm Glenmark Pharmaceuticals today said it has received approval from the US Food and Drug Administration (FDA) for an ointment used in treating skin problems.
Two research students were burnt alive in a fire that broke out at a chemical laboratory inside the Bhabha Atomic Research Centre (BARC) complex at Trombay, near Mumbai.
Punjab Chief Minister Parkash Singh Badal today urged Union Power Minister SushilKumar Shinde to advise the Nuclear Corporation of India to bear with the state government for the delay in the site selection process for a nuclear power project.
Land, and not mines, has emerged as the biggest stumbling block for steel projects, threatening to derail the government’s target to boost the capacity from 55 million tonnes now to 124 million tonnes by next year.
India"s steel consumption rose by 8.1 per cent to 35.97 million tonnes in the April-November period of this fiscal over the same period a year ago on improved demand from automobile and consumer durables sector.
Ethanol producers are cheering the government’s decision to raise the price of ethanol to Rs 27 a litre, as the decision may fetch long-term profits. Sugar companies, the main producers of ethanol, a by-product, have been selling it at Rs 21.50a litre.
International Management Institute (IMI), a New Delhi-based B-school, will invest Rs 50-crore in setting up its campus on 15.8 acres of land at Gothpatna on the outskirts of the city.
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.
Although the company has acquired overseas companies in the past, a big-ticket acquisition in future may warrant fresh equity issue.
The Delhi High Court has upheld the right of Godrej Sara Lee to advertise the virtues of its mosquito repellent cream marketed under the Good Knight brand.
Realising that their two-way trade does not match the potential, India and Japan today decided to give a push to negotiations on the proposed Comprehensive Economic Partnership Agreement (CEPA) with an aim of concluding it by next year.
State-owned defence and aerospace company Hindustan Aeronautics Ltd (HAL) said today that it was not trying to monopolise the aerospace sector in the country.
You can purchase property Directly or go for Sect0ral stock picks and PMS.
Mahanadi Coalfields Limited’s (MCL) plan to kick off the 10 million tonne per annum Kaniha open cast coal mining project at Talcher Coalfields has suffered further delay. The villagers to be displaced by the project are reluctant to cede their land for the project unless their demand for 41 jobs under the ‘C’ category is fulfilled by the company.
Reliance Industries today said PMS Prasad, who has been recently inducted into the company board, holds 17,433 equity shares in the company but does not own any derivatives of the shares.
After the launch of the country’s first indigenous nuclear submarine, India has the “technical expertise and capability” to build nuclear-powered aircraft carrier and warships, Atomic Energy Commission (AEC) Chairman Anil Kakodkar has said.
Ever since the Clinton visit, rumours have been flying fast and furious. Insiders claim that India has fast forwarded the Nuclear Civil Liability Bill, and the media has held forth at length on the probable facts and interpretations. Some angst is misplaced, for example the exclusion of the jurisdiction of civil courts.
Competing with Vedanta Resources, Grupo Mexico has come up with a $1.6 billion reorganisation programme for regaining control of its bankrupt firm, Asarco.
The World Health Organisation (WHO) has said that 33 countries have reported 5,728 laboratory confirmed cases of swine flu with Cuba, Finland and Thailand the latest to join the list.
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.
The IT industry today asked the government to extend the income tax benefits to software exporters beyond this year to sustain growth and overcome the downturn challenges.
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.
With the launch of its global mini car, the ‘Chevrolet Beat’, General Motors India sees its total sales crossing 100,000 in 2010 from 70,000 units in 2009.
The West Coast Paper Mills has recorded a net profit after tax of Rs 20.58 crore for the first quarter of the present financial year, against Rs 20.34 crore in the same period last financial year, an increase of 1.18 per cent. An expan-sion programme with outlay of Rs 1300 crores is in advanced stage of implementation, accor-ding to a press release from the company. Fibre Line will be commissioned in August and the Paper Machine is expected to be commiss-ioned in January 2010.
Jyoti Malhotra / New Delhi December 8, 2009, 0:43 IST
Mobile phones and the internet are seen as the new thrust areas by children’s entertainment companies
Business Standard / New Delhi December 31, 2009, 0:43 IST
Swaraj Baggonkar / Mumbai January 6, 2010, 0:14 IST
Kailash Nautiyal / January 2, 2010, 0:45 IST
Asian stocks fell for the first time in three days as Japan Airlines Corp and Asiana Airlines Inc plunged on debt concerns and as lower oil and gold prices dragged down commodity producers.
Taking in a pair of broken Reeboks turns out to be less than pleasant.
Domestic air traffic witnessed an increase of around 4.64 lakh passengers in October, according to official figures released today.
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.
The Directorate General of Civil Aviation (DCGA) is likely to submit its preliminary report to the Civil Aviation Ministry tomorrow on last night"s near-miss incident at Mumbai airport when two aircraft took off almost simultaneously from the same runway.
United Breweries (UBL), the owner of Kingfisher beer, yesterday reached a major milestone by signing a deal with Heineken NV, which like the Vijay Mallya group owns a 37.5 per cent stake in UBL. The company concluded a licensing agreement to distribute Heineken, the largest global beer brand, in India.
Intermediate trend bullish, short-term trend neutral.
Will leave for Denmark on December 17
With the world"s largest economy climbing out of recession, US President Barack Obama has said there are clear signs that his government"s efforts to stimulate the economy were moving in the right direction, though there are challenges ahead.
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.
India"s coffee exports have declined 14.28 per cent to 2.28 million bags in the first 10 months of the 2008-09 coffee year till July, even as the global shipments rose marginally in the same period, the International Coffee Organisation (ICO) said.
Stocks fell around the world, driving the MSCI Emerging Markets Index down the most in three weeks, and metals declined after China moved to curb lending. The yen dropped after Japan’s new finance minister said he would welcome a weaker currency.
- Oil imports rise first time in over a year - 2010 set to be year of indices trading - Crisil to research illiquid stocks to help investors - "Indian regulatory regime has brought us a world of good" - Global crisis pinches FDI purse in 2009 - Experts debate rollback of lenient policy
The captive power plant of National Aluminium Company (Nalco) in Angul has started regulating power supply to the smelter, located next to it, owing to acute coal crisis.
Bike maker Royal Enfield, a part of Eicher Motors, today said it will shift entire production to a new engine platform from April this year to make products compliant to stricter emission norms "Bharat Stage III".
Company files tariff proposal for 2010-11 with GERC.
In a major respite to its 94 lakh consumers in the state, Gujarat Urja Vikas Nigam Ltd (GUVNL) or the erstwhile Gujarat Electricity Board (GEB), is learnt to have kept its power tariff unchanged for the fiscal 2009-10. It may be mentioned here that private sector power distributor Torrent Power Ltd has already proposed 15 per cent hike in power tariff.
Digital imaging company Canon India today said it would set up six outlets in various cities in the country over the next few months.
With post-monsoon construction about to take off, major producers of steel have announced a rise in prices across product categories.
The two firms have been collaborating for several years.
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.
The government today said it is considering a 20 per cent stake sale in steel major SAIL, proceeds of which would partly fund the company"s Rs 70,000-crore expansion projects.
State-run steel producer Steel Authority of India (SAIL) and mining major NMDC will invest Rs 260 crore in developing the Arki limestone reserves in Himachal Pradesh.
Chhatisgarh Chief Minister Raman Singh today said Maoists are hindering acquisition of land for Tata Steel"s proposed five million tonne integrated greenfield steel plant in the state.
Apart from the cityscapes, the Commonwealth Games provide the opportunity to improve the mindscapes of the people of Delhi. The Delhi Government has embarked on a civility campaign, Come on Delhi, to make the city a good host for the upcoming event.
US Secretary of State Hillary Clinton has briefed visiting British Foreign Secretary David Miliband on her recent trip to India along with other issues, which she said was wonderful.
Iran today reiterated it has no plans to build nuclear weapons, after US Secretary of State Hillary Clinton warned Tehran that any pursuit of atomic arms was futile.
Agreements between former President Bill Clinton"s foundation and two drug companies will lower prices on medications for patients with drug-resistant HIV in the developing world.
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.
Despite lower revenue projections this financial year, Pune-based manufacturing solutions provider KPIT Cummins Infosystems has entered into a definitive merger agreement to acquire US-based SAP specialist Sparta Consultant for Rs 180 crore.
US has said "meaningful action" from India and China is necessary to make any substantial progress on climate change.
The government is likely to clear tomorrow a proposal suggesting release of inflation data on monthly basis and not every week for bulk of the items tracked by the Wholesale Price Index (WPI).
Fiat group company Magneti Marelli today said it aims to clock $100-million sales in the next three years India by increasing its customer base and services in the country.
Planning Commission Deputy Chairman Montek Singh Ahluwalia today expressed confidence that in the years to come India could emerge as the fastest growing economy in the world, beating China as the nation has yet to achieve its full growth potential.
New date for introduction of tax likely today.
Auto component maker Federal-Mogul Goetze (India) today said its net profit jumped two-folds to Rs 16.88 crore for the quarter ended June 30, 2009, over the same period last year.
The Polo produced at the Volkswagen plant in Chakan in Maharashtra may be good enough for the Indian market, but made in India is not good enough for Volkswagen. At the Polo’s launch in the auto fair in the Capital, most things in the company’s stall, right down to the chairs, had been imported.
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.
Ten TDP MLAs today decided to resign in protest against the Centre"s decision that appeared to put the Telanagana issue on the backburner even as the main opposition party extended support to the two-day bandh called in the region.
The government today said credit growth from banks has slowed down to 9.8 per cent till November 6 in the current fiscal against 27.7 per cent in the corresponding period a year ago.
Power, tourism, transport, education, expressways and sugar on priority list.
The Finance Ministry today said asking the employees to pay taxes on their perquisites is not new because such incentives were under the net even prior to the Fringe Benefit Tax (FBT).
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.
Shipping Corporation of India (SCI) has entered into an agreement with Geneva-based Mediterranean Shipping Company (MSC) to run its European service.
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.
Pharma firm Lupin today said it will borrow up to Rs 500 crore from corporate bodies and various financial institutions.
The Indian Auto Gas company, engaged in distributing LPG for automobiles, plans to set up 1,000 gas filling stations across the country over a three-year period at a cost of Rs 700 crore, a top company official said.
Steel manufacturer, Uttam Galva Steels today said it has appointed Swarna Prabha Sukumar as a Nominee Director in place of S R Krishnaswamy with effect from September 22.
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".
Early next month, the Madras High Court will hear a unique case — a petition challenging the geographical indications (GI) protection given to the famous Tirupati laddu, produced by the Tirumala Tirupati Devasthanam (TTD).
The Madras High Court has ordered notice on a petition seeking a direction to the centre to appoint a reg-ulatory body to prohibit obscene and pornographic material on the internet and penalise internet service providers (ISPs) and search engine companies for violation of licence conditions.
Indian matrimonial website says its competitors’ ads cannot be shown.
To encourage sales of tractors abroad, the government has announced a four per cent duty incentive on export of the vehicle.