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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.
Silver has outshone gold’s performance this year and will continue to do so in 2010 as the metal responds to the prospect of a surge in industrial demand, Angel Commodities Broking said.
The Telecom Regulatory Authority of India (Trai) is planning to make the one-second pulse a mandatory tariff option for all operators, a move that will benefit consumers by potentially reducing call charges and adding transparency to their tariff plans.
JSW Energy is planning to become an integrated power company by bringing in a partner for its transmission business and in its proposed distribution business. The company has shortlisted three companies for the proposed partnership in transmission.
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.
The Congress’ ‘outside supporter,’ Samajwadi Party (SP), joined the Left protest against the disinvestment policy of the UPA government in the Lok Sabha. The Congress-led UPA also showed aggression. Finance Minister Pranab Mukherjee told CPI(M) leader Basudeb Acharya, “Thank god we didn’t follow your policies. Otherwise, we would have occupied your position instead of leading the country today.” The Congress secured a record 206 seats in the 15th Lok Sabha while the CPI(M) recorded its lowest ever tally of just 16 seats.
After facing an united opposition in the Rajya Sabha on Monday over climate change, the United Progressive Alliance (UPA) ruling coalition today faced embarrassment as its ‘outside supporter’ Samajwadi Party (SP) joined the Left to stage a walk out in the Lok Sabha protesting the disinvestment policy of the government. Meanwhile, the Bharatiya Janata Party (BJP) said that the Left had approached them with a renewed offer to join hands against the government on economic issues.
Most Asian stocks fell, sending the MSCI Asia Pacific Index to its longest losing streak since December 2007, as a stronger yen threatened the value of Japanese exports and Australian unemployment rose.
In a rebuff to China, India today made it clear that any paper visa “stapled” to the passport in separate sheets rather than pasted would be treated as invalid for travel out of the country.
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.
Hit by slowdown in the IT sector, realty firm Ansal Properties & Infrastructure is mulling over converting three out of four of its notified IT Special Economic Zones into residential projects.
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.
- 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 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.
A major partner in the Indian Railways’ Rs 60,000 crore dedicated freight corridor project, Japan said it would like the project implemented at the earliest. Japanese Prime Minister Yukio Hatoyama said the building of exclusive rail lines for freight carriers along with dedicated industrial corridor should take shape fast.
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.
Pre-selection likely to save 18 months.
Opens new store in Nashik
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.
Construction firm GMR Infrastructure today said it has approved sub-division of its existing equity shares of Rs 2 each into 2 equity shares of Re 1 each.
In an attempt to quell the dissidence in the ruling BJP in Karnataka, chief minister B S Yeddyurappa has expanded his ministry by inducting rebel MLA M P Renukacharya into the cabinet. Renukacharya, prominent among the dissidents, who had questioned Yeddyurappa’s leadership, was administered the oath of office and secrecy by Governor H R Bharadwaj at a brief ceremony here today.
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.
Jharkhand Governor K Sankaranarayanan today asked JMM chief Shibu Soren to produce a list of MLAs supporting him as BJP gave enough indications of backing his claim to form a government.
The fast moving consumer goods (FMCG) sector has once again emerged as the industry of choice for this year’s management graduates.
The Trinamool Congress got a letter from the parliamentary affairs ministry asking it to nominate a party MP for an overseas tour. Railway Minister and Trinamool chief Mamata Banerjee took less than a second to decide and nominated singer-turned-politician Kabir Suman.
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.
Business Standard / New Delhi November 19, 2009, 0:08 IST
Sachin Tendulkar scored his best century on the day he completed 20 years in international cricket. By telling the Maharashtra Navnirman Sena (MNS) that he was an Indian first and a Maharashtrian later, Tendulkar has made several points. He has, of course, snubbed the MNS, but he has also told top professionals that they need to stand up and be counted. Just recently, Karan Johar apologised for calling Mumbai “Bombay” in a movie — while Johar and others fear the MNS will burn cinema halls showing their movies, Sachin has no such fear since the MNS can never hope to succeed in preventing fans from watching Sachin play. Interestingly, during the Mumbai riots, it was the original Little Master Sunil Gavaskar who used his stature in a similar manner to prevent mobs from killing Muslims.
Continuing its agitation for the cause of Maharshtrian youth, Raj Thackeray-led Maharasthra Navnirman Sena (MNS) has written a letter to State Bank of India (SBI) for considering locals for its new job openings.
Finding the economy and markets back on the recovery path, more than 60 companies are looking to raise an estimated Rs 50,000 crore through sale of shares and awaiting the regulatory nod for the same.
The life insurance industry has paid around Rs 1,717 crore as death benefit to policy holders between April and June 2009 compared with Rs 1,422 crore during the corresponding quarter last year (an increase of 20.74 per cent), according to Life Insurance Council, the body governing life insurance companies in India.
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.
N Ram has been chosen for this year"s prestigious Lokmanya Tilak National Journalist award.
Over 50 per cent of the electorate cast their votes in the fourth phase of the assembly polls in 14 Maoist-affected constituencies in Jharkhand, which passed off peacefully today amid tight security.
Only 7.15 per cent polling was recorded till 9 am in the fourth phase of assembly elections in the naxal-affected 14 constituencies of Jharkhand, according to Election Commission sources here.
As corruption cases against members of the judiciary make the headlines, a proposed bill on judicial accountability has suggested that the declaration of assets made by judges will be treated as a "legal document" and can be used to investigate complaints against them.
Energy giants Chevron, Shell and ExxonMobil today agreed to develop Australia"s massive Gorgon field, giving the final go-ahead to a liquefied natural gas project underpinned by supply contracts with India, China, Japan and South Korea.
Australia captain Ricky Ponting quit Twenty20 Internationals today, hoping the decision would prolong his career in other formats of the game.
Days after a 21-year-old Indian was stabbed to death here, the Australian police today said that a partially-charred body of another youth from the country was found in New South Wales, even as Canberra asked New Delhi not to whip up “hysteria” over such incidents.
In yet another attack on Indian students here, a 22-year-old youth was punched on his face by a group of Australians, who also told the victim that "in this place there is no home for you".
A late charge by bulls helped key indices surpass crucial resistance levels. However, select momentum indicators are currently in a sell mode even while the trend is up. It seems that markets will remain directionless until a clear breakout in either direction appears.
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.”
The People’s Republic of China marked its 60th birthday with a show of manpower. It was as spectacular and heartless as the opening ceremony of the last Olympics. These extravaganzas may be doing the nation a disservice abroad, by reinforcing stereotypes of the Chinese as obedient, mass-produced, and invisible as individuals; collectively, able to achieve feats of engineering and display; separately, merely well trained. What an appalling public relations burden to carry! At least India and Indians are defined in the foreign imagination by chaos, layers and infinite variety, which seems somehow more human and forgivable.
Gears up to launch stock, commodity futures in three years.
The economies of 16 nations that share the common currency euro, contracted 2.5 per cent in the first quarter of 2009, indicating that the European region continues to reel under recession.
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.
The country"s leading automobile firm, Tata Motors, today said it has increased prices of some of its commercial vehicles by around 1 per cent on account of rising input costs and addition of new features.
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.
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 government may not be able to rescue the inflation-hit plastic industry, but researchers at Pantnagar University have lent a ray of hope to it. The environment ministry had recently asked the plastic manufacturers to express their views as to why should the production of plastic packets smaller than the size of 18’ by 12’ not be banned? The notice has raised uproar in the plastic industry as according to manufacturers, 90 per cent of plastic consumption is done in sizes smaller than the proposed ban.
All fiction has its autobiographical roots, but Evelyn Waugh puts it as “experience totally transformed”. The autobiographical impulse is particularly strong in JM Coetzee, the South African Nobel Prize winner (2003), but his writings lie at the frontier between life and the freedoms of fiction. Summertime (Harvill Secker, special Indian price Rs 799), the final volume of a trilogy — the other two being Boyhood and Youth — is subtitled Scenes from a Provincial Life, charts the border territory with multiple skills of a biographer and fiction writer so that it can pretty well mean what you would want it to be.
Dilip Kumar Jha / Mmbai August 11, 2009, 0:24 IST
The Centre is likely to increase the debt relief package for coffee growers to Rs 802 crore, 58 per cent more than the recommendations of Coffee Board, Union minister of law and justice, M Veerappa Moily said.
India"s cotton exports in 2008-09 season, which ends today, are estimated to have plummeted by a whopping 55 per cent to about 38 lakh bales due to higher prices in the domestic market.
The US President’s visit to the region begins a new game with new rules.
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.
A spike in inflation numbers took its toll on stock indices as both Sensex and Nifty closed in the red. The Sensex fell 21 points to close at 17,097 and the Nifty was down by 11 points at 5,105. FMCG, banking and consumer durables sectors were among the weak links.
The paper industries in Orissa have urged the state government to roll back its move to raise the selling price of the bamboo.
Vedanta Aluminium Ltd. (VAL), which has set up a 0.5 million tonne aluminium smelter at Jharsuguda in Orissa, is forced to purchase alumina from traders importing the material from countries like Australia to keep its smelter in operation.
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.
Denied the chance, by a beady-eyed weight-watching travel friend, to carry with me into the heights of Uttarakhand Goethe’s The Sorrows of Young Werther, I revenged myself by purchasing, at the highest (and wettest) place on our itinerary, a copy of Bill Aitken’s Touching upon the Himalaya: Excursions and Enquiries (Indus, 2004). Now that I am back at sweat level in Delhi and have actually read the Goethe, I realise that Young Werther would have made poor company.
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.
Maintaining that its work is to promote entrepreneurship and to make money, the National Innovation Foundation (NIF) has clarified that it is not awaiting any money from filmmaker Vidhu Vinod Chopra, the producer of 3 Idiots. Chopra had sourced NIF’s innovations for his film.
Fierce protests from the Trinamool force Sonia Gandhi to ask her managers not to proceed with the land Bill.
The chief climate change negotiator of the tiny Pacific island of Tuvalu today made an emotional appeal for a strong agreement that would legally bind all countries to commitments to control carbon emissions.
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.
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.
Aurobindo Pharma Ltd, a manufacturer of generic pharmaceuticals and active pharmaceutical ingredients (APIs), is planning to acquire the entire stake in Trident Life Sciences Ltd (TLSL), a city-based clinical research organisation (CRO).
As is now well known, the Task Force appointed by the Thirteenth Finance Commission, Government of India, has issued a report on December 15, 2009 detailing the recommendations on various issues relating to the design and implementation of the proposed GST in India.
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.
Latha Jishnu / New Delhi November 12, 2009, 0:21 IST
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.
India has slipped behind in this year’s onion export market to its nearest competitor, Pakistan, due to the latter’s low pricing of the politically sensitive commodity.
Thanks to the Congress party blinking in the face of K Chandrasekhar Rao’s fast and declaring that it would support the creation of a Telangana state, an unprecedented crisis has been created. As many as 130 MLAs in the state assembly have already resigned, and it is possible there will be a similar move among the MPs. Thanks to the Telangana move, there are already protests from Rayalseema supporters.
A day after announcing decision to form separate Telangana state, Government today told Parliament that TRS chief K Chandrasekhar Rao has been invited here for talks to discuss the next step in the process.
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.
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.
Market-regulator, Securities and Exchange Board of India (Sebi) wants listed Indian entities to disclose sufficient information to the market to ensure transparency in their functioning.
Domestic mining firm Sesa Goa today said it will raise funds to the tune of Rs 6,000 crore through the issue of various securities in domestic as well as overseas markets.
Premvir Das / January 31, 2010, 0:16 IST
Textile company S Kumars Nationwide today said its shareholders have approved the raising of additional funds through private placement of shares to institutional investors.
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.
The Indo-US strategic relations deepened further in 2009 which saw installation of Barack Obama as the first black President, who attached high importance to bilateral ties and invited Prime Minister Manmohan Singh as his first State Guest.
British state-controlled bank Lloyds Banking Group (LBG) said today it will axe nearly 400 jobs at a call centre in the south of England.
The government today allowed ONGC Videsh, the overseas arm of state-run Oil and Natural Gas Corp, to invest an additional $70 million in an oilfield in Brazil, taking its total investment in the project to $748 million.
In a setback to Indian Air Force"s (IAF) plans to expand its capabilities, the Defence Ministry has cancelled a tender worth around Rs 6,000 crore for procuring six air-to-air refuelling aircraft.
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.
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.
The status would enable the institute to offer graduate, post graduate and PhD degrees instead of diplomas
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.
Rising prices, high production deficit led to better profits.
Offers, high ones, are coming in before placements officially start.
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.
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.
Facing allegations of irregularities in spectrum allotment, Telecom Minister A Raja today hit out at the BJP saying free distribution of radio frequency among operators during the NDA regime may have cost the country over Rs 1.6 lakh crore.
The stock pared most of its gains and ended at Rs 236, up 1% from its previous close. The counter clocked volumes of 1.83 million shares as compared to the two-week daily average traded volumes of 1.20 million shares on the BSE.
May buy power from Jan to meet demand
Exit strategy for stimulus after Q3/Q4 assessment
The Finance Ministry today expressed hope that the Reserve Bank in its monetary policy review next week will continue the current soft policy stance.
Prime Minister Manmohan Singh today said China had not constructed any dam on the Brahmaputra river that would have been a matter of concern for India, according to Arunachal Pradesh Chief Minister Dorje Khandu.
Yeddyurappa will lead delegation to meet PM.
The indigenous Kaveri aircraft engine, soon to make its debut flight, lacks the muscle needed by India’s Tejas light combat aircraft, which the engine was designed to power. In its present form, the Kaveri will never power a modern fighter.
RIL Director PMS Prasad addresses the many charges laid at the company’s door
Reliance Anil Dhirubhai Ambani group-controlled Reliance Mutual Fund, today annnounced the launch of its Reliance Infrastructure Fund.
The issue concerning foreign ownership in Indian banks is currently under discussion among the finance ministry, commerce and industry ministry and the Reserve Bank of India (RBI) and is likely to be resolved soon.
Government to hold detailed review of coastal security to coincide with 26/11 Mumbai terror attack anniversary, says Defence Minister A K Antony.
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.
Uttar Pradesh Chief Minister Mayawati has reacted strongly to media reports regarding the central government decision of making 80 per cent marks in intermediate level as cut-off for the IIT entrance test.
Shyam Ponappa / New Delhi December 3, 2009, 1:35 IST
A serological survey on swine flu antibodies is currently underway to determine the prospects of Pune developing "herd immunity" to the dreaded virus.
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.
DLF finally ended at Rs 365, down 4% from its previous close. The counter witnessed trades of 4.98 million shares as compared to the two-week daily average traded volumes of 2.46 million shares on the BSE.
To double annual production capacity at Manesar plant
Manipal Acunova, the Bangalore-based Rs 80 crore clinical research firm, has raised Rs 30 crore from US-based OrbiMed, a global healthcare-dedicated investment firm, with approximately $5 billion in assets under management.
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.
The German luxury carmarker today said it will invest $50 million (about Rs 230 crore) to set up a financial services subsidiary to better serve its customers besides industry as a whole.
Iconic US motorcycle maker Harley-Davidson today said it will bring 12 motorcycles in the Indian market priced between Rs 6.95 lakh and Rs 34.95 lakh (ex-showroom New Delhi).
No one can repair the BJP, former party ideologue K N Govindacharya tells Sreelatha Menon
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.
The Nifty witnessed selling at higher levels and closed in a Doji pattern, indicating indecisiveness among participants. The Sensex moved above the important trendline level of 17,290 but could not sustain it and closed at 17,170. The market is expected to be listless with mid-cap counters expected to outperform large-cap stocks. The support for the Nifty is expected at 5,080.
The country largest liquor manufacturer, United Spirits Limited (USL) today said it will raise $300 million through various channels to repay part of its debt.
Television channels aimed at children, like Nick India, Disney and Cartoon Network, are launching new online activities, original programming content and merchandise to cash in on Christmas and New Year celebrations this year.
Cement makers today reported double-digit growth in January sales driven by increased demand from housing sector, especially of low-cost homes, and infrastructure.
Creditors of debt-ridden Japan Airlines (JAL) would incur loss of some $7.6 billion if the carrier enters a bankruptcy process, a report said today.
More than lobbying for concessions, CII strove to be an instrument of change.
The Delhi-based franchise of audit firm PricewaterhouseCoopers today approached the Delhi High Court seeking quashing of proceedings initiated against it by the government in the aftermath of Satyam scam.
Global consulting firm Deloitte today said sectors like healthcare and education are likely to see an unprecedented growth going forward, riding on planned rise in government spendings for the areas.
Bengaluru International Airport today reported that passenger traffic would top 9.3 million in the calendar year 2009 with cargo handled during the 12 months estimated at 1,61,896 tons.
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.
There is a shortage of Air Traffic Controllers (ATC) in the aviation sector, government informed the Rajya Sabha today.
Shanthie Mariet D`Souza / New Delhi October 30, 2009, 0:53 IST
The world"s largest economy US climbed out of recession as it grew by 3.5 per cent in the third quarter ending September 30 -- the first quarterly expansion in a year -- thanks to higher consumer and government spending among others.
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.
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.
Ivy League colleges – Yale, Harvard, Princeton and the Massachusetts Institute of Technology – have approached the ministry of human resources development to collaborate in the proposed Innovation Universities across the country, official sources said.
Finance Minister Pranab Mukherjee will kick-start the pre-Budget consultations on January 5, with industry leaders getting the first opportunity to present him their wish-list that includes continuation of stimulus.
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".
Torrent Power, the private sector power company that distributes power to Ahmedabad, Gandhinagar and Surat has reduced fuel surcharge by only 1 paise per unit. This means there will be no significant relief in power bills of consumers in the third quarter of 2009-10.
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.
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.
Digital imaging company Canon India today said it would set up six outlets in various cities in the country over the next few months.
Subir Roy / New Delhi January 8, 2010, 0:42 IST
State-run steel maker Steel Authority of India (SAIL) today cut prices of some of its products, used primarily by the automobile and the white goods industry, by a further Rs 500 a tonne mainly on weak global demand.
JSW Steel is in talks with Japanese firm JJFE Holdings on equity sharing arrangement of JSW Bengal Steel, which is setting up a 10-million tonne steel plant in West Bengal.
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.
JSW Steel today said its crude steel production more than doubled to 4.80 lakh tonnes in November.
The United States today said it is open to bilateral talks with North Korea if Pyongyang takes some concrete steps to fulfill its commitments.
Former US President Bill Clinton will address over 3,000 alumni of the Indian Institute of Technology at a global conference here in October.
British telecom major Vodafone today reported a 9 per cent rise in revenue at 10.74 billion pounds in the first quarter ended June 2009, primarily helped by good performance in some markets, including India.
Secretary of State Hillary Clinton has set the pace for the Indo-US relationship during her recent visit to India and both the countries have to work hard to deepen the cooperation and build on it, the State Department has said.
After a gap of almost two months, inflation dipped marginally to 0.7 per cent but there is no respite for people as prices of items of common consumption like potato and vegetables continue to rule high.
With inflation turning positive after 13 weeks, the Reserve Bank today said the wholesale price index may rise to six per cent by this fiscal end — a development that may pose challenges to the central bank in maintaining a stable monetary policy.
A new draft bill to replace the Mines and Minerals Development Regulation Act, 1957, would be placed before the Cabinet soon, a senior government official said here today.
Drops 177 press notes in draft FDI policy.
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.
Bajaj Hindusthan, the country"s leading sugar producer, has decided to take its power generation capacity to 830 MW by adding another 400 MW of newer capacities.
The bank has been functioning with 3 directors.
Concerned over food inflation spreading to other sectors through adverse expectations, Reserve Bank of India (RBI) Deputy Governor Shyamala Gopinath has said the near-term policy challenges will depend on the evolving growth-inflation outcome that supports shifting the focus of the policy to managing recovery and containing inflation.
Aksh Optifibre’s Internet Protocol Television (IPTV) service iControl, with a subscriber base of over 30,000, has plans to increase its IPTV subscriber base and reach the 100,000 mark by September 2010.
A bill on accountability of judges is likely to be introduced during the current session of Parliament, the Government today told the Rajya Sabha.
The international climate change talks, which started in Copenhagen today, will see a 35-member official delegation from India. The attempt will be to negotiate a new global climate treaty to replace or extend the 1997 Kyoto Protocol beyond 2012.
Seeking to justify its action of putting on hold the creation of a Telangana state, the government today said "one-sided" decision cannot be taken as consensus was required on the issue and expressed confidence that people will "accept it" after some time.
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).
The government today said draft rules on managing e-waste will be ready by March next year.
The long-standing dispute over the finalization of the rate of private land for Essar Steel"s pelletisation project in Paradip has been finally resolved with the company authorities agreeing to pay Rs 19.1 lakh per acre to the land losers. This is the highest rate paid by any company for land acquisition in the state till date, sources said.
The Vedanta Aluminium Ltd (VAL), part of Vedanta Resources, has not violated any forest and environment norms at its alumina refinery and bauxite mining site in Kalahandi district of Orissa, according to a report of the state government.
Byravee Iyer / Mumbai January 5, 2010, 0:31 IST
Cash iron ore prices may fall to about $70 a tonne in the “near term” as China, the world’s biggest buyer, cuts purchases, said Rana Som, chairman of NMDC, India’s top producer of the steel making material.
Car market leader Maruti Suzuki India today reported 50.6 per cent jump in its sales in December last year at 84,804 units.
E Somanathan / New Delhi June 26, 2009, 0:21 IST
Developing-nation stocks may rise 32 percent in the next 12 months as a faster-than-expected earnings recovery fuels a long-term bull market, Morgan Stanley said.
At a time when the finance ministry is abuzz with talks of divestment, the existing disinvestment corpus -- the National Investment Fund (NIF) -- has managed to give only single-digit returns.
Steel manufacturer, Uttam Galva Steels today said it has appointed Swarna Prabha Sukumar as a Nominee Director in place of S R Krishnaswamy with effect from September 22.
With the launch of utility vehicle Grande MK II, an upgraded version of its premium Sumo Grande, Tata Motors is looking to increase its market share by 2-3 per cent in the utility segment. Utility segment at present constitutes 17-18 per cent of the total car market in the country.
Environmental think tank Teri wants to commercialise its technologies. Here’s how.
The Madras High Court today stayed a directive of the Drugs Controller General of India (DCGI) to stop state-level drug authorities from issuing export clearances for medicines.