International Business
SET Max making another pile from IPL ad revenue
SET Max, the official broadcasters of the Indian Premier League (IPL)cricket tournament, has already hit a sixer with the third edition of the twenty20 league. The channel is estimated to rake in over Rs 650 crore, 30 per cent higher than it got in IPL-2.Powerful, but pricey
While the growth visibility is reasonably good, the offer leaves no meaningful gains for investors in the near-term.IPO subscribed 1.27 times
The initial public offer (IPO) of Oil India Ltd (OIL), the second-largest state-run oil and gas company, was subscribed 1.27 times on the first day of its opening for subscription today. It is the third-largest IPO this year after NHPC and Adani Power Ltd, which raised around Rs 6,000 crore and Rs 3,000 crore, respectively.Punjab extends deadline of RFQ for Gidderbaha plant
The deadline has been extended for the sixth time in a row due to non-allocation of coal linkages for the projectEight companies show interest in Rajpura thermal plant
As many as eight power companies have shown interest in setting up a 1,320 Mw thermal Plant near Rajpura in Patiala.Fundtech enters Europe
Cash management solutions provider Fundtech India Ltd is entering the European banking sector with its product Global CashPlus. The Pune-based company has already signed deals with 12 Asian banks and a European bank for its product and plans to have 18 to 20 international banks under its belt by March 2010.IT industry to return to growth in\'10
The IT industry is exiting its worst year ever as global IT spending is all set to decline 5.2 per cent, according to Gartner, Inc, an information technology research and advisory company. However, the IT industry will return to growth in 2010 with IT spending forecast to total $3.3 trillion, a 3.3 per cent increase from 2009.\'A cost-competitive and transparent system will automatically attract customers\'
Dilip Kumar Jha / Mumbai October 13, 2009, 0:49 ISTTim Morse to be new Yahoo! CFO
Internet major Yahoo! has appointed Tim Morse as its Chief Financial Officer with effect from July 1, ending more than three months of search.PM hopes India-France build alliance in nuke energy
Against the backdrop of industrialised nations (G-8) putting curbs on full nuclear cooperation with countries like India, Prime Minister Manmohan Singh leaves for Paris today hoping that the visit would help India and France "build" its strategic partnership in nuclear energy, defence and other areas.India to take up with Pak spoofing of ultras\' satellite phones
India today indicated that it would take up with Pakistan the issue of spoofing of terrorists" satellite phones which hamper efforts to track them.Yemen for more Indian investments
Yemen has sought an increase in Indian investments in the areas of trade, especially in industrial, fishery, tourist sectors.Stainless steel ind wants cap on exports to be removed
The domestic stainless steel industry has demanded removal of value cap on exports of the alloy with an aim to increase shipments which were hit hard by the global economic crisis.China car sales jump 'beyond imagination', bring wait
Zhao Hang, who helped devise China’s auto-stimulus package, is facing demand from car buyers battling an unexpected consequence — two-month waiting lists.Asia Pacific to account for one-third of global airline loss
The Asia-Pacific region will account for more than one-third of the global airline losses this year, which is likely to touch a whopping $9 billion, due to recession impacting industry"s bottom line.Petronet to set up power plant in Kerala
Petronet LNG will be setting up 1,068 Mw capacity power plant at nearby Puthuvypu at an estimated cost of Rs 3,250 crore, a top official said.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
Natarajan Chandrasekaran (called Chandra by colleagues and friends) will take charge as the managing director and chief executive officer (MD & CEO) of India’s largest information technology services provider, Tata Consultancy Services (TCS), from S Ramadorai tomorrow. He’s the third in the line of TCS’ CEOs, after F C Kohli and Ramadorai.Balco issue may get solved with fresh valuation exercise
The government is likely to offer a mid-way solution to the long pending issue of selling the residual 49 per cent stake in Bharat Aluminium Company (Balco) to Sterlite Industries by way of a fresh valuation by an independent valuer.GE plans to source parts from India for F-16 engine
General Electric (GE), which is in contention as the engine supplier for the medium multi-role combat aircraft (MMRCA) contract of the IAF with three of its engines, is keen on sourcing components from Indian industry.Jonathan Weil: Putting the SEC in a spot
Jonathan Weil / September 18, 2009, 0:00 ISTPandit defies Schumer
At the Bank of America Corp office in Washington, employees are fielding as many as 10 calls a day from Capitol Hill, up from about two a year ago.Vedanta to bid for UMPPs, coal blocks
Vedanta Resources Chairman Anil Agarwal today said the company would bid for Ultra Mega Power Projects (UMPPs) and coal blocks as and when the government puts these on auction and added it has plans of Rs 70,000 crore till 2011-12.Vendanta to bid for UMPPs, coal blocks
Vedanta Resources Chairman Anil Agarwal today said the company will bid for the Ultra Mega Power Projects (UMPP) and coal blocks as and when the government puts them on auction and added it has plans of Rs 70,000 crore till 2011-12.India voices concern over N Korean N-test
Voicing concern over the nuclear test carried out by North Korea, India today said the act amounts to violation of its international commitments and that the development could have "adverse effect" on peace and security in that region.GM bankruptcy likely next week: Report
The US government is preparing to steer General Motors into bankruptcy as early as the end of next week, a plan which would provide billions of dollars more in federal funds to the ailing auto maker, says a media report.Disappointing show
While L&T’s December quarter results and cut in its 2009-10 guidance are disappointing, most analysts believe it to be a blip.Envoy urges US firms to build partnership with India
Asking the US corporate sector to build a lasting partnership with India in high technology including the defence sector, new Indian envoy Meera Shankar has said that New Delhi is looking at optimising its ability to procure the best equipment from anywhere in the world.Big names in Maharashtra polls
Congress nominee and President Pratibha Patil"s son Raosaheb Shekhawat further consolidates his lead, by a margin of 6,640 votes, over Congress rebel Sunil Deshmukh, at the end of eleventh round of counting in Amravati constituency.Twitter, Facebook \'costing British eco 1.38 bn pounds\'
In today"s world, popular social networking sites like Twitter and Facebook are without a doubt the best way to stay connected with friends and share what is happening right now.Monk's quest
On a clifftop above the sea, on the Mediterranean island of Crete, a young man meditating at sunset heard a voice inside say “Go to India.” He climbed down to his cave and there met his childhood friend and fellow traveller, who had been meditating on the seashore. This other young man had heard, at the same time, a voice telling him to “Go to Israel.”Any deviation at lower level will be dealt with: Raja
Telecom Minister A Raja today said any deviation by lower-rung officers from the government’s policy decision on spectrum allocation would be dealt with.Rupee at 46.44/$, down 33 paise
The Indian rupee today depreciated by 33 paise against the US currency in early trade on strong demand from importers for the dollar, which rebounded against other major currencies.India\'s move to sew defence pact with Ukraine miffs Russia
Russia, the country"s longtime and largest defence partner, appears to be miffed over India working towards sewing up a defence pact with Ukraine.Succession race hots up in AP
Supporters of Y S Jaganmohan Reddy today sought to step up the campaign for making him the Chief Minister of Andhra Pradesh even as the interim incumbent K Rosaiah ruled out the possibility of any division in the party.Civil Aviation Min sets up panel to probe chopper crash
The Civil Aviation Ministry tonight set up a four-member committee to probe the cause of Andhra Chief Minister Y S Rajasekhara Reddy"s helicopter crash in which he was killed.Cut off date on entry loads
I had invested in Magnum Tax Gain and Fidelity Tax Advantage via Systematic Investment Plans (SIPs). Despite the recent regulation by Sebi abolishing the entry loads, my investments in August were made subject to an entry load. Is the new regulation not applicable for existing investors as well?Bill Clinton to lead trade mission to Haiti
Former US President Bill Clinton would be leading a trade delegation to Haiti in October, in his capacity as the UN Special Envoy for Haiti.Northrop keen to nurture Indian partnerships
Even though the field trials are on for Indian Air Force’s medium multi-role combat aircraft (MMRCA) project, Northrop Grumman, the US based defence and electronic equipment supplier is keen to nurture its partnership with Bangalore-based Bharat Electronics Limited (BEL) and Dynamatic Technologies. Northrop Grumman manufactures the active electronically steered array (AESA) airborne radars which sit on the F-16 super viper aircraft of Lockheed Martin, which is competing for the Indian Air Force’s MMRCA programme.Karnataka govt plans 300-km 'steel corridor'
The Karnataka government is planning to develop a 300-km ‘steel corridor’, which they hope will attract investment worth Rs 20,000 crore from the steel majors. As part of the development, the idea is for a nuclear power plant, a port and high-speed train connectivity.JLR on road to revival
Eighteen months after Tata Motors took over beleaguered luxury brands, Jaguar and Land Rover, a strategy of cost-cutting and pushing sales have helped the UK labels to post an operating profit of £41 million (Rs 314.55 crore) during the reporting quarter ending 30 September 2009.NHAI likely to wind up port road connectivity project
The Chennai port-Ennore road connectivity project has hit a roadblock with the National Highway Authority ofWork on container terminal likely to begin by March \'10
The Chennai Port Trust is planning to award the construction of its Rs 3,686-crore mega container terminal by March 2010. The proposed terminal will have a capacity of five million twenty foot equivalent units (TEUs) per annum.Sensex gains 186pts on F&O expiry
After yesterday"s massive 520 points rally, the Sensex today opened on a flat note. It slipped into the negative zone for a while and touched a low of 14,078.Sensex ends 147pts higher at 14,256
After yesterday"s massive 520 points rally, the Sensex today opened on a flat note. It slipped into the negative for a while and touched a low of 14,078.Pyramid Saimira suffers Rs 100-cr loss
Chennai-based Pyramid Saimira Theatre Ltd (PSTL) said the company suffered a business loss of over Rs 100 crore last year which resulted in an erosion of working capital. Meanwhile, N Narayanan, one of the promoters of the company, took over as the new chairman from P S Saminathan, who will continue to remain managing director.Shree Cement forays power sector; to invest Rs 1,200cr
Kolkata-based Shree Cement today announced its foray into commercial power business and will invest Rs 1,200 crore in the next two years to set up a 300 Mega watt thermal power plant in Rajasthan.ISRO earned Rs 100 cr from foreign satellite launches
ISRO earned over Rs 100 crore in the last three years by launching satellites of other countries, Minister of State in PMO Prithviraj Chavan told the Lok Sabha today.Wipro targets govt contracts abroad
Wipro, India’s third largest IT services company, is planning to replicate its success in the government space in India. It is now courting the state sector across the world.IT ind may miss export target of $60 bn by FY10: Nasscom
The country"s software sector is likely to miss the much-touted target of touching $60 billion exports by FY10, due to unprecedented slowdown in key markets like the US and Europe, IT industry body Nasscom said.Govt-appointed panel calls for comprehensive land reforms
Says industry can’t keep growing at expense of farms, poor.Genpact signs MoU with Bhutan govt for ITeS development
BPO firm Genpact today signed a Memorandum of Understanding with the Royal Government of Bhutan, to train local talent and help in the development and growth of the IT-ITeS industry in the Himalayan Kingdom.IT industry to meet FM today for pre-budget consultations
The software industry will meet Finance Minister Pranab Mukherjee to put forward their demands for the sector.RBI tightens priority sector lending rules
In view of banks classifying even short-term loans to housing finance companies (HFCs) as priority sector lending, the Reserve bank of India (RBI) has moved to end this practice.Unity Infra PAT rises 22% at Rs 18 cr
Mumbai-based Unity Infrastructure posted a 22 per cent jump in its profit after tax (PAT) at Rs 18.75 crore for the September quarter of financial year 2010 as compared to Rs 15.4 crore it posted in the second quarter of last financial year.Fasting, feasting
The attention that we give to food during days of fasting never ceases to amaze me.Pickled from the heart
Chef Daoud Mohammed Tarhini always packs in a little bit of Lebanon, on his travels.Africa a call centre alternative to India?
Some US lawmakers and think tanks believe that Africa can be a much cheaper alternative to call centers in India.Curious case of the Civic
IN MY MINDDeserved rap on knuckles
Business Standard / New Delhi October 15, 2009, 0:37 ISTRailways plan 15 auto hubs across country
To promote traffic of automobiles through the railways, its ministry is considering 15 automobile hubs to be set up on public-private partnership across the country.IIM-C summer placement back in limelight
Indian Institute of Management-Calcutta (IIM-C) grads seem to be back in demand as the slot zero--or the most coveted slot offered to recruiters for summer placement--has seen a significant increase in the number of companies coming to the institute over last year.Hry CM to be guest of honour at Pravasi Bhartiya Divas
Haryana Chief Minister Bhupinder Singh Hooda would be the Guest of Honour in the Plenary-III Session of Pravasi Bhartiya Divas to be organised by the Ministry of Overseas Indian Affairs, Government of India, and the Confederation of Indian Industries at Vigyan Bhawan in New Delhi.HPCL net profit at Rs 31.4 crore
Helped by cash subsidy from the government, Hindustan Petroleum Corporation Ltd (HPCL), India’s third-largest refiner, managed to report a net profit of Rs 31.4 crore in the quarter ended December 2009. It posted a net loss of Rs 422 crore in the corresponding quarter last year.Luminous Power Tech appoints Arun Nagpal as CEO
Power and energy storage company Luminous Power Technologies today announced the appointment of Arun Nagpal as Chief Executive Officer of the company.Hindustan Unilever gains on defensive buying
The stock surged to high of Rs 285 - up 7%. It finally ended with a gain of 5.5% at Rs 282. Around 1.05 million shares were traded on the BSE today.Sunil Sethi: The crisis of identity proofs
- Sunil Sethi: Remembering Oct 31, 1984">Sunil Sethi: Remembering Oct 31, 1984 - Sunil Sethi: The price of a filmmaker's estate">Sunil Sethi: The price of a filmmaker's estate - Sunil Sethi: Marketing the gifts of gods">Sunil Sethi: Marketing the gifts of gods - Sunil Sethi: The difficulty of being Khan">Sunil Sethi: The difficulty of being Khan - Sunil Sethi: Delhi's double displacement">Sunil Sethi: Delhi's double displacement - Sunil Sethi: Virtue, vice and VIPs">Sunil Sethi: Virtue, vice and VIPs\'You have to turn the whole system upside down...\'
Bimal Jalan / New Delhi July 26, 2009, 0:03 ISTKashmir should be an independent state: Gaddafi
In a major diplomatic embarrassment to India, the maverick Libyan leader Muammar Gaddafi has supported the idea of an "independent state" for Kashmir and said that it should be a "Baathist state" between India and Pakistan.Panacea bags Rs 1,000-crore Unicef contract
Panacea Biotec today bagged a three-year contract worth over Rs 1,067 crore ($222.37 million) from Unicef for supplying its EasyFive vaccine.Bihar court issues arrest warrant against Raj Thackeray
A Bihar court today issued an arrest warrant against MNS Chief Raj Thackeray for making "hate speeches" against Biharis and asked the Mumbai police commissioner to produce him before it on November 2.Maytas Infra board moves CLB for removal of former director
In a surprise move, the Maytas Infra board today approached the Company Law Board (CLB) to remove erstwhile director R P Raju from proceedings in a case filed by the government for superseding of the company"s board.23 thermal plants not complying with emission norms
At least 23 thermal power plants in the country are not complying with the emission norms prescribed by the State Pollution Control Boards, the Lok Sabha was informed today.Govt may merge various food schemes in Food Security Act
The Centre is examining merging the various food schemes implemented by different ministries as part of an exercise to enact a Food Security Act.China threatens to ban import of Indian seafood
Beijing has threatened to ban import of seafood and other food products from India if New Delhi continues to restrict import of milk products from China, the government informed the Lok Sabha today.India can learn lessons from China, says Ramesh
Environment Minister Jairam Ramesh commended the commitments made by Chinese President Hu Jinato during the high-level Climate Change Summit here and said India can learn lessons from China to help save the planet.Villgro to host B-plan contest for rural growth
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.Apollo Munich Health Insurance: Insuring against negativity
Apollo Munich Health Insurance Company, the joint venture between Apollo Hospitals Group and Munich Health of Germany, has come out with a new mass media campaign.Aircel: Ring in the old
Mobile telephony service provider Aircel is taking the philanthropic path. While most brands and advertisers offered discounts this festive season, Aircel came out with a 35-second corporate social responsibility TV campaign that urged youths to donate their unused mobile handsets to old people.Pro-dam activists demand early resumption of suspended projects
Ahead of the first meeting of the Ganga River Basin Authority (GRBA) in New Delhi on October 5, intensive lobbying is on to build pressure on the Centre and the Uttarakhand government for the resumption of three hydel projects — 600-Mw Lohari Nagpala, 480-Mw Pala Maneri and 381-Mw Bhaironghati — which were suspended under the pressure of environmentalists and VHP leaders.M J Antony: Mass disasters unlimited
M J Antony / New Delhi November 11, 2009, 0:22 ISTM J Antony: Heartless against faceless
M J Antony / New Delhi October 14, 2009, 0:01 ISTM J Antony: Tyranny of procedure
A lawsuit should be a continuous, seamless process from the stage of filing to getting relief.Implement mechanism to reduce delay in licence renewal: IBAI
The Insurance Brokers Association of India (IBAI) today demanded implementation of a mechanism to reduce delays in renewal of licences and dub-bed the recommendations of the Swarup Committee as being “unpractical” and “misconceived”.\'The commission-free structure will kill the insurance industry\'
Shilpy Sinha / New Delhi September 22, 2009, 0:17 ISTHyundai net jumps 104% in 2009 on India, China sales
Riding on back of brisk sales in India and China, Korean car major Hyundai Motor Company today said its net profit for the year 2009 zoomed by 104.5 per cent at 29.615 trillion won (about Rs 1,18,950.16 crore) from the previous year.ICICI Bank raises $750 m from 5-yr bonds
ICICI Bank today said it has raised $750-million (around Rs 3,465 crore) by issuing five-year bonds at its Bahrain branch.Markets in oversold zone
The markets ended lower for the second straight week as rate hike fears, global cues and futures & options expiry weighed on the sentiment. The Sensex fell below 16,000 for a brief while and touched a low of 15,982. It eventually ended with a loss of 502 points at 16,358.King Connectivity
Media/content: Connectivity is king. As painful as that admission would be for empire-building media moguls, it also looks to be true. Content may be sexy - it’s the driving force behind deals like Comcast’s possible purchase of NBC Universal, for example. But a simple look at market values or the willingness of wireless customers to pay for data services, suggests connectivity is worth more than content.Walt Disney to buy Marvel Entertainment for $4 bn
Entertainment major Walt Disney Company will acquire Marvel Entertainment, the firm well known for comics of super heroes, for an estimated $4 billion in a cash and stock deal.Aila fuels Indo-Bangla border smuggling in Sunderbans
Soon after the clock strikes midnight, the muddy roads on the Indo-Bangla border, at Sahebkhali in Sunderbans, become busy with trains of cattle being herded on a secret journey culminating in Bangladesh where they will be slaughtered for shipment as processed beef.iGate to hire 1,500 people next year
Seeing a rebound in IT outsourcing contracts, IT services provider iGate today announced that it plans to hire 1,500 people in the calendar year 2010. Phaneesh Murthy, CEO of the Nasdaq-listed company said iGate"s plan to increase the headcount was a reflection of the business environment.Global crisis led to breakdown of trust in fin system: RBI
Reserve Bank Governor D Subbarao today said the ongoing global crisis has resulted in a massive breakdown of trust in the financial system and that the study of economics could lose its value base.Ads on-the-go
Mobile advertising: Every year for the last decade, media experts have predicted a boom in mobile advertising. But if recent acquisitions of mobile ad agencies by Google and Apple Inc are any indication of what’s to come, this year’s round of forecasts might prove more accurate.Etihad Airways to extend operations to Hyderabad
Etihad Airways, the national airline of the United Arab Emirates, will start operation of its flights between Abu Dhabi and Hyderabad four times a week from November 2009. The service will become daily from the start of 2010. The addition of Hyderabad brings the number of Indian destinations served by Etihad to seven.Cost of funds, fee income to drive bank profits in Q2
With bond yields hardening, bankers say they will not be able to look to their trading rooms for high profits.\'India can emerge as the resource base for News Corp\'
Ashish Sinha / New Delhi August 25, 2009, 0:40 ISTSunil Jain: Connecting Bharat
The budget is big on rural India and allocations for the Bharat Nirman project, for instance, have been hiked 45 per cent over those allocated in Budget 2008-09 — within this, allocations for projects like the Pradhan Mantri Gram Sadak Yojana have been hiked 59 per cent. While that’s all very well, it would be a good idea to see what’s happening on the government’s plans for connecting rural India, not by roads but by telephones. As compared to urban areas where around 90 per cent of people have phones, tele-density is just around 15 per cent for rural India.FM channels threaten to tune out over royalty row
With no solution emerging in the legal battle between music companies and private FM radio operators over royalty rates, many of the 37 private FM radio companies have threatened to shut shop soon, restricting choices for over 200 million FM radio listeners to All India Radio channels.RIL cautions NTPC on commenting on sub-judice matters
Reliance Industries (RIL) has cautioned that NTPC should not make comments on matters sub-judice lest they are construed as attempt to influence the outcome of its court case seeking natural gas at price committed in 2004.RIL accuses NTPC of going back on draft gas pact
Reliance Industries (RIL) has accused NTPC Chairman and Managing Director R S Sharma of going back on the terms of a draft gas sales and purchase agreement that provided for government approving its bid price of $2.34 per mmBtu.Reddy to seek financial assistance from Centre
Andhra Pradesh will seek financial assistance, including an additional Rs 2000 crore under NREGA, from Centre to meet the drought situation prevailing in the state.Krishna tells Aussie envoy of security expectations
India’s foreign minister today advised its students to be “more discreet” in choosing educational institutes and courses of study in Australia, whose high commissioner admitted there was a drop in applications of Indian students following media coverage of attacks on them.ICICI allots 30,158 shares under stock options
The country"s largest private sector lender ICICI Bank has allotted a total 30,158 equity shares pursuant to conversion of options under the Employees Stock Option Scheme, 2000 (ESOPS).8 Indian cities among 25 riskiest offshoring locations
India may have been hailed for long as the world"s top outsourcing destination, but a new study has named as many as eight cities in the country among the world"s 25 riskiest places for offshoring, mainly on concerns like terrorism, pollution and geopolitical issues.At a crossroads: Gold may move divergently
The yellow metal could move in two diverging paths in the future, an independent global metals research consultancy firm said.Credit swaps lose crisis stigma as confidence returns
A year after the bankruptcy of Lehman Brothers Holdings Inc, credit-default swaps (CDS) have lost their stigma for disaster and are contributing to the growing confidence in the credit markets.Agreement on major GST issues still elusive: PwC
Amid fears that Goods and Services Tax (GST) implementation will miss the deadline, a leading consultancy firm PiceWaterHouseCoopers (PwC) has said the Centre and states are yet to reach an agreement on major issues relating to the new tax regime.India needs global support on climate change: Saran
Reiterating India’s stance on climate change, that the country did not expect external financing or technology for its domestic actions, Shyam Saran, the prime minister’s special envoy on climate change, said it would be legitimate to ask for global support if we were doing something more.Fiscal autonomy worry for some states
Before the introduction of the goods and services tax (GST), a crucial doubt of many states remains to be cleared: would they be compromising on their fiscal autonomy or the power to tinker with the tax rates when the new regime is rolled out?India Eco Summit: \'Affordable innovation needed\'
Kirtika Suneja / New Delhi November 11, 2009, 0:35 ISTPearson expands footprint
Pearson, the British-based education and education technology company, which recently picked up a stake worth $30 million (around Rs 150 crore) in Educomp Solutions’ vocational business and online tutoring firm, TutorVista, is leveraging these tie-ups to increase its India footprint.Officer\'s Choice crosses 10 mn cases mark
Allied Blenders and Distillers today said its heritage whisky brand, Officer"s Choice, has crossed the 10 million cases mark to become the fastest growing whisky brand in the country clocking a compounded annual growth rate (CAGR) of 31 per cent over the last three years.Pranab may fall back on disinvestment for Budget: Economists
Finance Minister Pranab Mukherjee might have to fall back on disinvestment and other non-tax revenue sources while presenting the Budget for 2009-10 on July 6, economists believe.Poll defeats set BJP thinking about the road ahead
The defeat of BJP today, especially in Maharashtra and Haryana where it had been part of coalition governments earlier, has come as a severe blow to the party that is already reeling under the Lok Sabha debacle and serious internal discord.No second term for Rajnath
The Rashtriya Swayamsevak Sangh (RSS) today obtained a commitment from the Bharatiya Janata Party’s (BJP’s) warring leaders that they would stop their infighting even as moves were initiated for a major overhaul of the party’s top brass, which will see the exit of Rajnath Singh as party president in the next three months and likely stepping down of L K Advani as leader of the Opposition in the Lok Sabha.ComMin wants 3-year I-T waiver for labour-intensive exports
In an attempt to support exporters hit by the ongoing global economic crisis, the commerce ministry has proposed to its finance counterpart to exempt income tax for a period of three years for certain labour-intensive sectors like handicrafts, leather and textiles.A K Bhattacharya: No escape from a \'fiscal holiday\'
A K Bhattacharya / New Delhi June 17, 2009, 0:28 ISTFiscal deficit for April reaches 16% of govt estimate
Excise collections for April have been badly hit, resulting the fiscal deficit touching 16 per cent of target in the very first month itself, which could douse expectations of interest rate cuts.RIL, ONGC may be bidders in $8-billion Addax sale
India’s two largest companies — state-run Oil and Natural Gas Corp (ONGC) and billionaire Mukesh Ambani-led Reliance Industries (RIL) — are being rumoured as the "mystery" bidders for UK-based Addax Petroleum, which could be sold for £5 billion (around $8.26 billion), a media report said here.SAIL, Tata, JSW, Essar may face anti-dumping duty in Thailand
Thai authorities are about to slap up to 32 per cent anti-dumping duty on the import of a vital steel product from India, even when the Indian government has remained indecisive on a similar curb against inflows from China, Ukraine, Egypt and other countries.Central Bank, Ipicol ink pact for Rs 25,000 crore funds
To facilitate flow of credit to various sectors of the state’s economy including the micro, small and medium enterprises (MSMEs), ancillary and downstream industries, the state owned Industrial Promotion and Investment Corporation of Orissa Ltd (Ipicol) today entered into a pact with the Central Bank of India (CBI).Rebound expected early next week
The two main indices—the Nifty and the Sensex—staged strong intraday rebound on Friday in choppy trades and extended gains for the second straight day. The Nifty bounced back from an intraday low of 4,766 to close at 4,882 on short-covering in interest rate-sensitive sectors such as auto, banks and realty.Bharati Shipyard: The acquisition war ends
Great Offshore’s share price may fall once open offers by Bharati and ABG Shipyard close.Ad spend on social media set to grow by 44 per cent
Social media sites have enjoyed a steep surge in popularity, but fail to attract advertisers at the same pace. Only 13 per cent of the total Internet ad spends have gone into social media initiatives for the year 2008-09, according to a recent study of the top 500 marketers in India (Digital Media Outlook 2009 report by Webchutney).Twitter nears deal to raise $100 mn: report
Micro-blogging site Twitter is close to securing $100 million funding from about seven investors, a move which will make it a billion-dollar entity, says a media report.Street vendors to be rechristened as micro-entrepreneurs
They may be selling bananas, paav bhaji, cosmetics, cigarettes or just about anything else either on a push-cart going round streets or simply by standing on the roadside and now these street vendors are all set to get a new designation — micro-entrepreneurs.IBM targets Gujarat SMEs for SMSR, Cognos Express
Even as the small and medium enterprises (SMEs) in Gujarat look to increase their technology adaptability, IBM has forayed with its market specific products in hardware, software and security services, among other things. With an increasing need for data storage and security among SMEs, IBM is expanding its footprint in the state by offering products like Scalable Modular Server Rooms (SMSR) and Cognos Express, apart from other services.Textiles Ministry demands change in Drugs and Cosmetics Act
The Textiles Ministry is pushing for amendments in the Drugs and Cosmetics Act to ensure that quality standards are set for new medical textiles used in products like baby diapers, contact lenses and surgical gloves to promote their sales.Punjab ends MoU with Reliance Ind
The ambitious project of Reliance Industries (RIL) to put up progressive farming practices in Punjab has been scrapped as the Punjab cabinet has terminated the Memorandum of Understanding (MoU) signed with RIL in 2006 for setting up of Agricultural Mega Projects in the state, saying that no action had been taken in accordance with the provisions of the MoU.Govt imposes stock limit on bulk sugar consumers
The government today imposed stock limit on bulk sugar consumers, allowing them to keep quantities sufficient for only 15 days of their consumption at any point of time. The stock limit would be in force for six months and would be applicable to consumers whose monthly sugar consumption is at least one tonne, the government said in a statement. The move will affect confectioneries, large biscuit and beverage producing units.FM has done good job in govt borrowing: Kochhar
Finance Minister Pranab Mukherjee holds a couple of Master of Arts degrees, but banker Chanda Kochhar rates him as a great financial engineer for designing the government"s borrowings taking care not to hurt the credit needs of the industry.States not doing enough in health sector: Azad
Unhappy with the way the National Rural Health Mission has been implemented by states, Union Health Minister Ghulam Nabi Azad has said the flagship scheme was not going in the right direction and the state governments should equally "share the burden".RBI tightens online card use
E-commerce players fear 30% drop in businessShree Cements Q3 net rises 35% to Rs 167 cr
Shree Cements has reported 35 per cent increase in net profit to Rs 167.4 crore in the third quarter ended December 31, 2009 as against Rs 124 crore in the same qaurter last year.Cement despatches: Back in double-digits
Healthy demand outlook and partial improvement in prices have perked up sentiment towards cement stocks.\'Low-cost mobile devices will bridge digital divide\'
Gartner, Inc. has evaluated and highlighted technologies that will have an impact on Indian enterprises as they look at increased technology adoption to support growth and competitive differentiation. The Gartner Hype Cycle for ICT in India 2009 is the company’s most comprehensive to date, featuring 31 technologies and topics such as massive array of idle disks (MAID), fibre channel over ethernet (FCoE), video telepresence in India, x86 server virtualisation, and software as a service (SaaS) in India.Govt to introduce e-passports
In an effort to check forgeries and misuse of passports, the government is rolling out e-passports that will carry biometric information in a chip.Firstsource Solutions says no plans to list in US
Clarifying on the reports that Firstsource Solutions is planning to list in the US, the company said that it has "no immediate plans" to do so.BPOs eye global footprint to meet customer needs
The Indian business process outsourcing (BPO) industry is following in the footsteps of information technology service firms, increasing its global footprint as it eyes bigger and more complex work from clients.Mahindra Satyam in talks with World Bank to revoke ban
Mahindra Satyam today said it is seeking an end to the eight-year old ban imposed by the World Bank on Satyam Computer which has since then assumed its new identity -- Mahindra Satyam.TechM bags $400-mn deal
New telecom licensee Etisalat DB Telecom has awarded a $400-million (nearly Rs 2,000 crore) IT applications and infrastructure outsourcing contract to Tech Mahindra. The contract is spread over a 10-year period.Deloitte applies to become Mahindra Satyam auditor
Board, audit panel to meet on September 4.Jaimini Bhagwati: Whither economics and finance?
Jaimini Bhagwati / August 21, 2009, 0:43 ISTNo room for lending rate cut now, says Kamath
Banks didn’t have room to further cut lending rates as of now and, in fact, they might look at raising them once credit offtake picked up, ICICI Bank’s Chairman KV Kamath said today.IRDA tightens anti-money laundering norms for insurance cos
Insurance regulator IRDA today tightened the anti-money laundering guidelines by asking the insurance companies to ensure that no policies are issued to persons with fictitious names.Auto sector to grow by 10-12% in 2010: Fitch
The Indian auto industry is likely to see a growth of 10-12 per cent in sales in 2010, but companies will come under margin pressures as competition hots up in the market, according to global rating firm Fitch.Tatas threaten to scrap Vista electric launch on loan delay
Tata Motors has threatened to scrap its plan to launch Vista electric cars in the UK if it does not receive a £10 million loan from the British government soon, The Observer reported today.Subir Roy: A nation in the making
This is a story at two levels, as all good stories are — at a personal and an anecdotal on one hand and an official and ‘history in the making’ on the other.G-20 agrees to control bankers\' bonus
Finance ministers of the world’s 20 largest economies, including India, today agreed on the need to have an “institutional cap” on bonuses paid to bankers. At the conclusion of a day-long G-20 finance ministers’ meeting here today, the nations agreed on more disclosures and transparency in the level and structure of remuneration along with global standards on pay structure, including deferral, effective clawback, relationship between fixed and variable remuneration, and guaranteed bonuses.Indiabulls Power ends at 13% discount
Indiabulls Power ended at Rs 39 at a sharp 13% discount. The counter clocked heavy volumes of 102.76 million shares on the BSE.Super backup software solution! Download @MAX SyncUp.