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HSL to build Rs 4,000 cr shipyard in AP or Orissa
State-owned Hindustan Shipyard (HSL) plans to build a large shipyard to accommodate very large crude carrier ships (VLCC) at an estimated project cost of Rs 3,000-4,000 crore, a top official said. The proposed shipyard, which will be built on a public-private-partnership model, is expected to receive cabinet approval by the end of this fiscal, HSL"s Chairman and Managing Director, Naresh Kumar said on the sidelines of SMM India"s shipping trade fair.

Public expenditure to go up by additional Rs 25,727 cr
The government today came out with the first batch of supplementary demands for grants in the Lok Sabha seeking to raise public expenditure by an additional Rs 25,725 crore during the current fiscal.

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Govt urges US regulator not to punish Satyam
India has requested the US Securities Exchange Commission (SEC) not to impose any fine on Mahindra Satyam, formerly Satyam Computer Services Ltd (SCSL), as this will impede the new entity’s rehabilitation.
International Business

N Chandrasekaran takes over as TCS CEO

Succeeding S Ramadorai, N Chandrasekaran today became the Chief Executive Officer and Managing Director of Tata Consultancy Services (TCS), the country"s largest software exporter. - Change of guard at TCS today - Tata Memorial Centre gets land in Vizag - Sensex may be on course to 18k - Wkly Tech Analysis: Sensex may be on course to 18k - MP govt invites bids for IT park again - India Inc created fewer jobs in 2008-09 Chandrasekaran, who before taking the charge as CEO was the company"s Chief Operating Officer and Executive Director, said: "With strong customer base, full services offering, multi-domain capability and presence across emerging markets, we are optimally positioned to take advantage of the opportunity in the global market." He further added: "It is important to drive excellence and growth through empowerment of our 140,000 strong employee base and value articulation for our customers." Ramadorai, whose term came to an end on August 8, was given an extension till October 5. He was appointed as TCS CEO and MD for a period of five years starting August 9, 2004. However, Ramadorai will remain involved in the company as a non-executive Vice-Chairman and member of the board of Directors, TCS said in a statement.


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