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Godrej Consumer to renew focus on hair colours for growth
Godrej Consumer Products Ltd (GCPL) plans to strengthen its hair colour offerings through new launches and variants, in a bid to arrest its dipping market share in this lucrative sgment.Index closes below 17,000
Investors today pulled down the stock market benchmark Sensex below 17,000 points-level, as they sold banking, oil and gas and state-run companies’ shares to make profits.\'These are teething pains\'
Kalpana Pathak / New Delhi December 01, 2009, 1:30 ISTCAT blame game: IIMs and NIIT new targets
Even as day three of the computer-based Common Admission Test (CAT) continued to add to the anxiety of the student community, academicians have shifted the blame game from Prometric to the Indian Institutes of Management (IIMs) and NIIT, accusing them of adopting a highly casual attitude. Prometric bagged the contract from IIMs to conduct computer-based CAT this year in partnership with NIIT. “The IIMs could have done more than just outsourcing the exams to Prometric. By blaming Promertic, IIMs can’t acquit themselves. If one-sixth of the 304 test labs fail, it’s an absolute joke of an examination. A little control on part of the IIMs could have helped,” said a professor from a B-school which accepts CAT scores for admissions.ICAI to withdraw proceedings against PW Delhi
Accountancy regulator Institute of Chartered Accountants of India (ICAI) today agreed to withdraw disciplinary proceedings against the Delhi branch of the audit firm Price Waterhouse (PW) in the multi-crore Satyam scam.IIFCL moots dynamic structuring
In takeout financing IIFCL will enter into a pact with banks to take over some of their infrastructure loans on its books.World bank agrees on VGF scheme for roads
Ready to assist in annuity-based BOT projects.Wrong CPI
Sitaram Yechury, the CPI(M) leader, had a tongue-in-cheek explanation for Finance Minister Pranab Mukherjee ripping into Brinda Karat during the discussion on inflation in Parliament. According to Yechury, “The FM was talking about the Wholesale Price Index (WPI) but we were telling him to talk about the Consumer Price Index (CPI) which showed a sharp rise in food prices. As we mentioned CPI, he thought we were talking about the political outfit CPI. That might have angered him.”No decision yet on PSB merger: Pranab
Finance Minister Pranab Mukherjee today said the government has not yet taken a decision on consolidation of public sector banks (PSBs).50% quota for women in urban local bodies
The government today sought to increase the representation of women in urban local bodies by providing 50 per cent reservation to them instead of the existing 33 per cent.Adhikari Bros completes 100% FCCB buyback
Sri Adhikari Brothers Television Network Ltd has informed BSE that it has repurchased and canceled US $ 2.5 million outstanding 1.50 per cent Secured Foreign Currency Convertible Bonds (FCCBs) due in 2012 and listed on the Singapore Stock Exchange.IDBI Bank may shelve variable pay plan
IDBI Bank is expected to formally shelve its plan to become the first public sector lender to introduce variable pay for its employees.BoI trims deposit rates by 0.25-0.5%
Public sector lender, Bank of India (BoI), has slashed its deposit rates by 0.25-0.5 per cent across various tenures, effective from Monday.Samtel cockpit displays for Sukhoi-30MKI
The Indian Air Force’s Sukhoi-30MKI fighter is a beast that is tamed only by technology. The aircraft’s giant AL-31FP turbofan engines, which allow manoeuvres that no other fighter can dream of, are monitored by its pilots on high-tech computer screens called multi-function displays, or MFDs. A quick glance across the MFDs also provides information about on-board weapons and sensors, telling the pilots everything about how the aircraft is flying and fighting.Indian IT firms lift lid on hiring
Industry experts still remain cautious on numbers.Trai looking at need to revisit telecom tariff issues
The Telecom Regulatory Authority of India (Trai) today said it is looking at the possibility of revisiting the telecom tariff issues which are currently determined by market forces.Chiru does a u-turn, resigns as MLA for united AP
Making a u-turn, Praja Rajyam chief Chiranjeevi today announced his decision to resign as MLA and support a united Andhra Pradesh, changing the party"s earlier line of support to separate Telangana state.DLF eyes better cash flow by biz integration
Realty major DLF today said its board has approved integration of DLF Assets with DLF Cyber City Developers, a move that will enhance its cash flow through rental income.Voltas: A cool cause
Voltas takes the social cause route to promote its air-conditioners.,Sibal keen to forge alliance with US varsities
With the government deciding to set up 14 innovation universities, HRD Minister Kapil Sibal today expressed keeness to forge an alliance with leading US varsities in shaping the structure of the proposed institutes.Blackstone plans to list 8 firms, sell 5 others: report
Global investment firm Blackstone is planning to list up to eight of its firms and sell at least five others, a move that marks a shift in its pessimistic view about the world economy, media report says.Nilanjana S Roy: From Dune to Cyberabad
Nilanjana S Roy / New Delhi December 8, 2009, 0:42 ISTGovt seeks report on CAT fiasco
HRD Minister Kapil Sibal today said the ministry has sought a detailed report into the server crash during the online Common Admission Test (CAT) examination.Fall in input costs may benefit paper units
A sharp drop in the prices of inputs like pulp, coal and chemicals from their last year’s peak will help domestic paper companies like Bilt, JK Paper and West Coast Paper earn better margins this year.Paramount to expand fleet, launch on-board mobile service
Aiming for a larger play in the domestic skies, Paramount Airways plans to increase its fleet fourfold by 2011 to 20 aircraft by inducting mid-sized airplanes.Air India focussing on cutting cost and increasing revenue
Cash-strapped Air India is focussing on cost reduction of Rs 1,500 crore and revenue enhancement of Rs 1,200 crore as per its turnaround plan and the government would infuse equity into the airline in the next few years, the Rajya Sabha was informed today.Tilaknagar Industries Q4 net up 40% at Rs 7 cr
Indian Made Foreign Liquor (IMFL) manufacturer Tilaknagar Industries registered a consolidated net profit increase of 40 per cent for the quarter-ending March 31, 2009 to touch Rs 7 crore as compared to Rs 5 crore in the corresponding quarter last financial year.Race to lower car loan rate hots up
A day after ICICI Bank cut rates, Axis Bank follows with a 50-75 basis points cut.Biscuit makers say they may be forced to raise prices
Rising sugar prices are pushing biscuit manufacturers to plan a rise in their prices. The industry says commodity prices have reached a level beyond which it would be impossible to sustain the pressure and there is no other choice but to pass some of it on to consumers.BS Motoring Bike Of The Year 2010: Kawasaki Ninja 250R
It surely took a long time coming, but now that it has, it’s got top clearance from us. Ladies and gentlemen, say hello to our Bike Of The Year 2010 — the Kawasaki Ninja 250R! While there was an impressive list of opponents to the Ninja, none of them could handle going toe-to-toe with the Japanese warrior. And it wasn’t just its bright green colour either. But more on the Ninja later; let’s see who it was up against, shall we?Royal Enfield to invest Rs 80 crore
Motorcycle manufacturer and part of Eicher Motors, Royal Enfield, would invest Rs 60-80 crore to double the capacity of its Chennai plant to 100,000 units by 2013.Mahindra to launch mini truck Maxximo at Auto Expo
Auto major Mahindra & Mahindra today said it will launch its mini truck Maxximo-- the first product from its new facility in Chakan -- at the Auto Expo here during January 5-11.Second-largest terminal after Beijing set to wow the world
The state-of-the-art integrated terminal, called T3, of Indira Gandhi International Airport (IGIA) in New Delhi is poised to be the world’s second-largest, after Beijing in China, in terms of size. Once T3 starts operations before the 2010 Commonwealth Games in October, IGIA will become the world’s sixth-largest in terms of capacity. T3 would increase the capacity of IGIA to 60 million passengers annually, from 23 million after it starts commercial operation in July next year. The airport is expected to increase capacity to 100 million passengers by 2030 depending on traffic growth.Bharat Forge seeks shareholders\' nod to raise $150 mn
Auto component maker Bharat Forge today said it will seek shareholders" approval to raise $150 million (nearly Rs 720 crore) by issue of warrants or bonds.Bharat Forge: Only partly better
The slowdown in overseas markets persists, so it could be a while before the auto-parts maker is back on track.Bajaj Hind EGM on Dec 16 for raising Rs 2,000 cr
The country"s largest sugar manufacturing firm, Bajaj Hindusthan, today said its shareholders will meet on December 16 to consider and approve raising of Rs 2,000 crore from domestic and international markets.Bajaj Hind eyes 37% in Balrampur Chini
Shishir Bajaj-promoted Bajaj Hindusthan, India’s largest sugar producer, is in talks with its nearest competitor Balrampur Chini Mills to acquire the 36.67 per cent stake of the current promoters, the Kolkata-based Saraogis.Gold, silver prices rose on higher global cues
Gold prices rose sharply at the bullion market here today due to fresh buying from stockists and retailers following a firm trend in global markets.Gold plunges by Rs 220 on weak global trend
Gold prices today tumbled by Rs 220 -- the biggest fall this year -- to Rs 16,880 per 10 gram in the bullion market here on fresh selling by stockists influenced by a weak global trend.Bajaj Electricals raises Rs 161 cr via QIP
Bajaj Electricals today said it has raised Rs 160.79 crore by issuing shares to qualified institutional buyers.New system to provide real picture of price situation: govt
Conceding that WPI-based inflation was not reflecting the rising prices adequately, the government today said the new mechanism has been devised to provide a better picture of the price situation.Credit information bureaus trip on new FDI norms
The new Foreign Direct Investment (FDI) norms, which stipulate changes in the way foreign investment in a domestic company is calculated, have put a roadblock in the path of credit information bureaus, which are eager to rope in private sector banks as investors.DLF Brands to launch DKNY brand in India
Fashion and lifestyle brand retailer DLF Brands will launch the DKNY brand in the Indian market this month.Commexes close \'09 with record turnover of Rs 70 lakh cr
Commodity exchanges in the country closed the year 2009 with record turnover of Rs 70,90,442 crore, up by 40.85 per cent from Rs 50,33,872 crore in the previous year.Mfg slows down in Aug, domestic demand drives growth: PMI
The growth in domestic manufacturing sector slowed down in August though the domestic demand continued to drive recovery despite lower margins. The HSBC Market Manufacturing Purchasing Managers Index (PMI), a seasonally adjusted headline index designed to measure the overall health of the manufacturing sector, stood at 53.2 last month down from 55.4 in July.Inflation trebles to 4.78%
Experts see inflation at 7 % at the end of 2009-10, expect increase in CRR by December.Asian markets end in green
Asian markets ended in the green today. The Hang Seng, dropped from its intra-day high to end with a gain of 115 points at 22,412.2000-09: The game changers
TECH TONICTaxing P-Notes on back burner
This follows a renewed effort by CBDT to seek clarification on the issue.Deora requests PM to issue Rs 21k-cr oil bonds
With Finance Ministry"s defiance pushing fuel retailers into red, Oil Minister Murli Deora today requested Prime Minister Manmohan Singh to immediately issue over Rs 20,870 crore worth of bonds to state-run firms to make up for losses they incurred on fuel sales.Investments to TN at Rs 15,000 cr in \'09
At a time when Karnataka has been struggling to attract investments, Tamil Nadu has attracted investments worth Rs 15,000 crore during 2009, majority of which was driven by the automobile industry. According to government sources, since 2006 investments worth Rs 46,100 crore have come into Tamil Nadu.OMCs ready to pay Rs 26 a litre for ethanol
But, sugar firms want Rs 28 a litre.A place in the sun
Given India’s large geographical spread and ready availability of sunshine, solar energy could be the answer to our energy shortage.RIL, Ecopetrol ink pact for deep water blocks
Reliance Industries (RIL) today said its exploration arm has entered into an agreement with Columbian state-controlled oil company Ecopetrol SA for two deep water blocks.Shoppers Stop gets board\'s nod for raising funds
Fashion and lifestyle retail chain Shoppers Stop today said its board of directors has approved raising funds by allotting 40 lakh shares to qualified institutional buyers.Pratip Kar: Taking stock of the exchanges
Pratip Kar / New Delhi January 11, 2010, 0:53 ISTKochi LNG terminal to go on stream in \'12
Construction work on the onshore LNG terminal, coming up at Puthuvype, near here will be completed by December, next year.Hello brother
The Ambani brothers may be at war with each other in real life, but that hasn’t stopped them from collaborating in reel life. The Aamir Khan starrer 3 Idiots, a Reliance Big Pictures release (an Anil Ambani enterprise), starts off thanking Mukesh Ambani for giving it permission to shoot at the IIM Bangalore campus — Mukesh Ambani is the chairman of IIM Bangalore.DTH sparks new row between producers and multiplexes
A new battlefront has opened between multiplexes and big banner production and distribution houses. Ignoring the revenue concerns of the multiplexes, Reliance Big Pictures, Percept Pictures, UTV Movies and Dharma Productions want to release their new films on direct-to-home (DTH) television shortly after their release on theatre screens.Sudoku puzzle
At the launch of Arvind Virmani’s book on Wednesday, Finance Minister Pranab Mukherjee said he was intrigued by the book’s title, The Sudoku of India’s Growth. He said he’d have thought that his chief economic advisor would not think India’s growth surge was a puzzle and that he would actually know what had driven the growth. Having got everyone laughing, Mukherjee said that though he had not read the book in any great detail, his interaction with Virmani had convinced him that though the growth may have puzzled many, Virmani actually had the key to the puzzle. Suman Bery of NCAER said meanwhile that the appropriate metaphor was not Sudoku but Rubik’s Cube.\'Accord appears to be complete betrayal of poor, weaker nations\'
Business Standard / December 27, 2009, 0:21 ISTBengal promotes new tourist destinations
Although the West Bengal government is reluctant to admit that the political turmoil in the Hills has affected the tourism industry in Darjeeling and the surrounding areas, it is attempting to aggressively market other destinations within the state to ensure a steady inflow of tourists.Future Group expects Rs 100 crore from media business next year
Kishore Biyani to revamp existing print media business, introduce tailor-made packages for TV advertisersCall transfer: Users set to port number for new experience
Telecom industry may be hit by biggest customer churn ever, due to mobile number portability.CAG to audit contracts for RIL\'s D6 gas field
Minister of state for petroleum and natural gas Jitin Prasada, in a written reply to the Rajya Sabha, today said the Comptroller & Auditor General would audit the product sharing contracts (PSC) of Reliance Industries Ltd’s D6 gas block in the Krishna-Godavari basin for 2006-07 and 2007-08.Asian markets have a dismal day
The Asian markets succumbed to selling pressure to end on the lower side.Big Pharma cures for ailing heritage
A Johnson & Johnson subsidiary has developed chemicals that can protect monuments.J&J Medical to launch insulin pumps in India by year-end
Johnson and Johnson Medical India, plans to introduce its insulin pump for diabetes patients in the country by end-this year, a top company official said.Life Insurers\' new premium up 75% in Dec
Aided by strong growth in sales of unit-linked insurance plans (Ulips), new business premium income of life insurers went up by 75 per cent during December to Rs 12,201 crore against Rs 6,961 crore during the corresponding period last month.Insurance fee may be cut in phases
The high level coordination committee (HLCC) on financial markets, which consists of financial sector regulators, is likely to opt for a phased reduction in the commission paid to insurance agents.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.Trent changes gear
Trent is trying hard to make up for lost time. Consider this: In the last 10 years, the retail arm of the Tata Group set up only 68 stores with around one million sq ft of space.JLR dangles carrot to push back salaries for 15 days
The management of Tata Group-owned Jaguar Land Rover has offered a one-time payment of £200 to those of its salaried employees who are willing to push their salary receiving date by 15 days, starting from August this year. This is part of the car maker’s plans to manage its cash flow problems, pending fresh flow of funds from banks to manage its operations more smoothly.Chodavaram mill expects drop in cane crushing
Chodavaram Cooperative Sugar Factory expects a decline in sugarcane crushing this season as against the 350,000 tonnes crushed during the last season.Govt warns farmers against selling sugarcane in other states
The Uttar Pradesh today said it will not allow the sugarcane farmers of the state to sell their produce to mill owners in neighbouring states of Haryana and Uttarakhand, which they claimed offered better prices.Golden oldie
Kumar Gallery in Delhi turns 55.SAIL net profit doubles to Rs 1,676 crore
Steel Authority of India Ltd (SAIL), the country"s second largest producer, reported Rs 1,676 crore net profit for the quarter ended December 31, nearly double the Rs 843 crore in the corresponding quarter of the previous year, at the back of rising demand from auto and construction sectors.Tata Power Q1 PAT up 98% at Rs 377 cr
Decrease in fuel prices in the Mumbai licence area pulled down Tata Power"s revenues in Q1 FY10 to Rs 2,015.62 crore as against Rs 2,026.13 crore.Bharti nears deal with Warid in Bangladesh
Telecom giant Bharti Airtel is close to clinching a deal to acquire 70 per cent stake in Warid Telecom, a local mobile company in Bangladesh owned by Abu Dhabi Group, with top officials from both companies meeting here to "brainstorm a consensus", a media report said today.British banks to see recovery falter: survey
British banks fear their fragile recovery will grind to a halt over the next few months, according to a survey by employers" organisation the Confederation of British Industry (CBI).AV Rajwade: Insider trading
A V Rajwade / New Delhi December 14, 2009, 0:52 ISTAlert after inputs about terror strike at Mumbai\'s Radio Club
Police have received specific intelligence inputs about a terror attack on one of the oldest clubs near Hotel Taj here following which security has been beefed up, police said today.Bollywood's latest blue-eyed boy
Ranbir Kapoor is raking in Rs 5 cr for each film.Training for terrorists comes from Pakistan: Clinton
Expressing concern over series of arrests of US nationals as terror suspects, Secretary of State Hillary Clinton has said much of the training and direction for terrorists comes from Pakistan and the border area with Afghanistan.Tata docomo extends per second billing to roaming
Tata Docomo, the GSM mobile service of Tata Teleservices, has extended its per-second billing plan to roaming services. Its subscribers would be charged one paisa per second for outgoing and incoming calls while roaming, effective tomorrow.Not me, sir
Communications Minister A Raja has learnt it’s better to be safe than sorry. After the EGoM meeting on the 3G spectrum auction, Finance Minister Pranab Mukherjee was surrounded by journalists. He refused to make any comment and then turned towards Raja and said, “Nobody should talk to the press about this meeting.” Even before Mukherjee could finish, Raja waved his hands and said, “Sir, I am not saying anything. I am not saying anything.” A few days ago, Mukherjee had summoned Raja and told him not to talk to the press about the 3G issue and to ensure that no inter-ministerial communication related to the 3G auction was leaked from his office — letters from Mukherjee to Raja and vice versa have all been leaked to the press in recent weeks.Vendors to share BSNL's 3G ad spend
Communications Minister A Raja is pushing an innovative plan under which vendors which supply equipment for 3G mobile services to state-owned Bharat Sanchar Nigam Ltd (BSNL) will share the bill for advertising and marketing the services in the first six months of the launch.Lancor Holdings plans to raise Rs 75 crore
The board of Chennai-based Lancor Holdings Ltd, previously known as DBS Properties Ltd, has given its nod to raise up to Rs 75 crore by way of qualified institutional placement (QIP) or private equity.Pantaloon transfers retail biz to Future Value
Kishore Biyani-led Pantaloon Retail (India) today said it will transfer its value retail business to its group company, Future Value Retail.Govt probing report of under-declaration of RCom\'s revenues
Communications Minister A Raja today said the observations made by the special audit — which had found that Reliance Communications and its other subsidiaries under-reported revenues during 2006-07 and 2007-08 — were being examined by his ministry.Transport bottlenecks hit power target: Govt
Accepting slippages in capacity augmentation targets in the power sector during the first two years of the 11th Plan, the government today said bottlenecks in road transportation and movement of utilities had led to delays.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.PPT gets customs nod to transport furnace oil
The authorities of Paradeep Port Trust (PPT) have finally transported 175 tonnes of furnace oil evacuated from Black Rose, the sunken vessel to Kolkata and Ranchi through lorries after getting the clearance from the Customs officials.NPCIL needs Rs 1 lakh crore for capacity addition by 2020
India’s nuclear power generator, Nuclear Power Corporation (NPCIL) has projected an investment of Rs 1 lakh crore for nuclear capacity addition of 10,000 Mw by 2020. The cumulative funding for these projects would be on a 70:30 debt equity ratio.Isro plans to launch Cartosat-2B in March
The Indian Space Research Organisation (Isro) is planning to launch the Cartosat series ‘Cartosat-2B’ remote sensing satellite in March this year, Isro Chairman K Radhakrishnan said here today.LIC, HDFC Life miss rural obligations
The state-owned insurance giant Life Insurance Corporation of India (LIC) and private sector insurer HDFC Standard Life missed out on rural sector obligations during 2008-09. While two non-life insurers, Bharti Axa General Insurance and Apollo DKV, did not meet both the rural as well as the social sector obligations during the last financial year.Insurers wait yet another year for increase in FDI
The year 2009 saw insurance firms waiting for easing of foreign direct investment (FDI) norms, just as they have done every year for the last five years, but there is promise of the law being amended to this effect next year.Banks may sell products of multiple insurers
Irda panel moots each lender tying up with two life, two non-life and two health insurers.OBC retains loan growth target of 22%
Indicating an improvement in credit pick-up, State-owned Oriental Bank of Commerce (OBC), on Thursday said it expected the loan book to grow at 20-22 per cent this financial year.Handset players jostle for market share
It’s a tough call for new players as entrenched ones add more services and strenghthen ties with distributorsRlys\' land acquisition rules will be altered: Mamata
Railway Minister Mamata Banerjee on Monday said she had already altered the land acquisition template of the Indian Railways in a bid to ensure no land was forcefully acquired for projects undertaken by her ministry.Centre asks state to aid in rail infra
Union minister of state for Railways K H Muniyappa has asked the state to submit a list of its demands for development of railway network in the state to the Centre before January 15, 2010.BSNL cancels Huawei tender
Scrapping of 20-million lines order for south zone to delay Rs 32,000-cr project.Eight of top-10 firms lose Rs 85,000 cr in m-cap
Eight out of the 10-most valued firms saw their market capitalisation (m-cap) tumble by as much as Rs 85,000 crore till date in 2010, as the stock markets witnessed a down-slide.Sterlite Tech wins BSNL optic fibre contract
Power and telecom solutions vendor Sterlite Technologies Limited has won networking contracts worth Rs 54 crore from Bharat Sanchar Nigam Ltd (BSNL) to be executed in the current fiscal.Markets pare gains in noon trades
The Sensex opened in the red following cues from Asian markets. The index touched a low of 16,161 but recovered to a high of 16,357. The index has dropped again and is now down 70 points at 16,288.Telangana issue forces IT firms to eye neighbours
Political disturbance over the demand for a separate Telangana state is forcing information technology (IT) companies to shift. The process to shortlist office space in neighbouring states, like Tamil Nadu, is underway.Markets pare gains on rising inflation
A spike in the inflation numbers took its toll on the indices. The Sensex ended at 17,097, lower by 21 points and the Nifty closed at 5105, down 11 points. The FMCG, banking and consumer durables pack had a poor day.Markets firm on easing Dubai fears
The markets are displaying firm trend on the back of improved global cues. The European markets too have opened on a positive note following easing Dubai fears.Subir Roy: A historic opportunity for SAIL
- Mittal plans 6 mt plant in Karnataka - PSUs to lose out on interest - Capex spending slows in Q2 - Disinvestment of 4 PSUs likely to be completed in two months - SAIL again delays Rs 70,000-cr mega expansion plan - Maoists explode bomb in SAIL mineSuzlon: Some breeze, finally
The order win by Suzlon’s subsidiary, REpower, to deliver 954 Mw of wind-power equipment is its largest ever onshore deal.Markets gain ahead of Reliance results
The markets witnessed some volatility in the first half of the day, as traders awaited the Reliance numbers. However, renewed buying interest in the latter half of the day backed strong quarterly earnings so far saw the markets stage a smart rally.PFRDA may take up SBI employees pension corpus
Country"s largest lender State Bank of India"s (SBI) pension corpus could be regulated by the Pension Fund Regulatory and Development Authority (PFRDA), opening a new area for the interim regulator.AAI paying 600 staffers in Mumbai for no work
There are 600 employees of the Airports Authority of India (AAI) in Mumbai who draw their pay with no work to do.Barclays Cap sees India\'s GDP at 7% in FY10
Financial services provider Barclays today revised India"s growth projection for 2009-10 to 7 per cent from the earlier forecast of 5.5 per cent on the prospects of a stable government.Domestic MFs plan international funds
Domestic mutual funds are again scouting investment opportunities abroad, mostly in emerging markets, as they plan to launch international funds, after more than a year. At least three fund houses-- SBI Mutual Fund, UTI Mutual Fund and Mirae Asset Mutual Fund— are planning to launch international funds soon.Nalco announces cash incentive for fly ash disposal
Navratna aluminium giant National Aluminium Company (Nalco) has decided to give cash incentive for disposal of fly ash, about 7,000 million tonnes (MT) of which is generated at its 1,200 Mw thermal captive power plant here everyday.Over Rs 25,000-cr Mumbai realty in a limbo
Body blow for real estate developers as state switches off tap to high-rise projectsWhen India Inc had a rough Raj in UK
Even before 2009 started, all initial indicators suggested that India Inc’s year in the UK would be that of the Tatas. The close of the year simply confirmed this with plenty of interesting developments leading to that foregone conclusion.RIL discovers third gas reserves in KG basin
Reliance Industries (RIL), the country’s largest private sector company, has announced its third successive gas discovery in the exploration block KG-DWN-2003/1 (KG-V-D3), of NELP-V. The deepwater block KG-DWN-2003/1 is located in the Krishna basin, about 45 kilometers off the coast in the Bay of Bengal. The block covers an area of 3288 square kilometres. RIL holds a 90 per cent participating interest (PI) and Hardy Exploration and Production India Inc holds the rest.Sanjay Dalmia asked to appear before EOW
The Bombay High Court has asked Delhi-based businessman Sanjay Dalmia to appear before the Economic Offences Wing (EOW) here in connection with a complaint of cheating filed by Indiabulls Financial Services.Bank of India Q3 net dips 53% to Rs 405 cr
Public sector lender Bank of India (BoI) today said its net profit declined by 53.50 per cent to Rs 405.50 crore for the third quarter ended December 31, over the same period corresponding fiscal.Sheetal Mafatlal gets bail, may be released from jail tomorrow
Businesswoman and socialite Sheetal Mafatlal was today granted bail on certain conditions by a local court in a case of alleged evasion of duty on jewellery worth Rs 53 lakhs carried by her on return from London.\'We will come out with a vision statement soon\'
Business Standard / New Delhi October 07, 2009, 1:12 ISTIAF opens new airstrip in Ladakh
For the first time, the Indian Air Force (IAF) today landed an AN-32 transport aircraft at the Nyoma Advanced Landing Ground (ALG) in eastern Ladakh, just 23 km from the Line of Actual Control (LAC) with China.Pantaloon same-store sales in lifestyle segment up 11%
Pantaloon Retail has returned to a double-digit growth rate in same-store sales (SSS) in the lifestyle segment. The country’s largest retailer, which saw either a decline or a single-digit growth rate at best in SSS since November 2008, posted an increase of 11 per cent for the December quarter, aided by higher consumer spending in the category.IAF deploys Sukhoi fighter jet to locate YSR\'s chopper
Ramping up the frantic search for missing helicopter of Andhra Pradesh Chief Minister Y S R Reddy, the IAF today deployed a Sukhoi fighter jet with on-board radar for high resolution ground mapping to locate it.HAL blames BAE Systems for Hawk delays
The Indian Air Force (IAF) is desperately short of aircraft for training its flight cadets. With the entire fleet of basic trainers — the HPT-32 Deepak — grounded after a series of crashes, advanced training is suffering equally due to unexpected delays in the manufacture of the Hawk advanced jet trainer (AJT) in India.New kid on the green
Gaganjeet Bhullar wants to be the number one golfer in India, and is taking giant strides towards achieving his aim.Telangana Cong MPs seek action against Jagan
Regional differences in Andhra Pradesh Congress burst out in the open today when late YSR"s son Jaganmohan Reddy joined TDP protesters in Lok Sabha only to face demands for disciplinary action from party MPs from Telangana.Bajaj to exit scooter biz
Bajaj Auto, whose name has been synonymous with scooters in India for decades, will stop producing the vehicle in the next three months. The company sells 300 automatic scooters every month under the brand name, Kristal.Singur land not \'formally\' sought: Industry minister
The West Bengal government had not sought return of the land at Singur from Tata Motors ‘formally’, said West Bengal commerce and industry minister Nirupam Sen, a day after Ratan Tata said the government had not approached for the land. Speaking on the sidelines of a seminar organized by Assocham in association with the Bengal Chamber of Commerce & Industry and Merchants’ Chamber of Commerce, Sen said, though the government had not formally asked for the land, the company had been informed about the Bhel proposal and later the Railways proposal. Sen said, unless the Railways submitted a formal proposal, the government would not ask for the land back. With Sen’s comments, it appears that Singur was once again in limbo, as Railways has made it clear that it would not visit the land as it belonged to Tata Motors.Max New York Life launches ULIP plan Shiksha Plus
Private sector life insurer Max New York Life today launched Shiksha Plus, a Unit Linked Plan, to facilitate a child’s aspirations and goals over different phases of student life.US Congress imposes new restrictions on aid to Pak
US Congress today passed a bill that sets tough new restrictions on military assistance to Pakistan and seeks determination from Obama administration that the fund will not be used to affect the "balance of power in the region".CRR hike won\'t impact interest rates, industry: Fin Secy
Finance Secretary Ashok Chawla today said the Reserve Bank of India"s (RBI) review policy has taken a balanced view of the current situation and the CRR hike would not have any affect either on interest rates or the industrial recovery.Pravasi meet begins, property-related issues dominate Day 1
A plethora of issues ranging from cheating by builders to complexities involved in succession and inheritance of properties dominated the first day of the annual Pravasi Bhartiya Divas attended by nearly 1,500 delegates from over 40 countries.'Institutions have not kept pace with global issues'
S M Krishna / October 4, 2009, 0:45 ISTHunger on the rise, warns UN
With over one billion people going to bed hungry, the United Nations has warned that the hunger index is rising and appealed to governments and civil societies to "leverage every tool" to combat it.Maytas Infra in position to execute projects: Khurshid
Asserting that Hyderabad-based Maytas Infra is in a position to execute projects, Corporate Affairs Minister Salman Khurshid today said the government"s intention is to see that the company is back on its feet.Founder may sell stake
Shantha Biotechnics founder Vara Prasad Reddy, who found a new partner in Sanofi Pasteur, is planning to dilute a part of his stake in the company.'Ozone-depleting substances to be phased out by 2030'
India will phase out hydrochlorofluorocarbons (HCFCs), used for refrigeration and air-conditioning, by 2030 in line with the Montreal Protocol, a treaty to protect the ozone layer.Ozone depleting HCFCs to be phased out: Ramesh
India today unveiled a detailed roadmap for phase out of ozone depleting and green house gas Hydro chlorofluorocarbons (HCFCs) and sought adequate funds and technology from the global community for it.Corporate goal
Former hockey captain Viren Rasquinha’s recent stint at the Indian School of Business turned out to be the best year of his life, he tells Neha BhattHDFC targets 20% loan disbursal growth
Mortgage major Housing Development Finance Corp (HDFC) aimed to grow loan approvals as well as disbursements by at least 20 per cent in the current financial year, Joint Managing Director Renu Sud Karnad said today. HDFC has already seen a rise in new home loan applications, she said.ICICI Bank says no material exposure to Dubai
Amid fears of a debt crisis in Dubai, ICICI Bank today said it does not have any significant exposure to Dubai corporates.Dubai crisis may not impact remittances: FinSecy
The Finance Ministry today said the financial crisis in Dubai, triggered by a slump in real estate, may not impact remittances sent by Indian expatriates in the Gulf.India remains attractive for B-school aspirants
Foreign universities may be going the extra mile to lure Indian students abroad, but a new report reveals that Indian students who aspire for a Master in Business Administration (MBA) degree continue to find the country an attractive destination for higher studies.Emirates Airlines to sponsor Arabian Cricket Challenge
Extending its association with cricket, Emirates Airline, the official partner of International Cricket Council (ICC) and the title sponsor of Indian Premier League (IPL) team Kings XI Punjab, will now sponsor the Arabian Cricket Challenge, a Twenty20 format cricket tournament held in Dubai.RCom Q3 net falls 19% to Rs 1,165 cr
Anil Ambani Group company Reliance Communications today said its consolidated net profit declined by 19.34 per cent to Rs 1,164.82 crore for the third quarter of 2009-10.Search for Tejas engine nears its end
Decision likely before March 2010, price will determine winner.Bharti Airtel disappointed with 3G auction delay
Country’s largest mobile operator Bharti Airtel today said it was disappointed by 3G spectrum auction being postponed until next financial year, but would participate when it takes place.David Pauly: Buybacks show CEOs no wiser after the recession
David Pauly / November 1, 2009, 0:34 ISTNot many buyout opportunities in India: Tata Steel
Asserting that the steel maker has substantial investment plans in India, Tata Steel has said, however, there are not many acquisition opportunities here.Dual tax structure for goods & services
Discussion paper sets out broad plan, no clarity on deadline.Govt to allow private funding in setting up universities
In a significant move, the government has decided to allow private funding in setting up some of the proposed 14 national universities, which would be of world class standards.Academicians meet to discuss Yash Pal Committee report
A large number of academicians, including principals and vice-chancellors of various colleges and universities, met here today to discuss the Yash Pal Committee report on higher education, according to Pankaj Chandra, director of Indian Institute of Management, Bangalore (IIM-B).B-schools believe sponsors will back festive mood this year
Encouraged by the improving business sentiment, India’s premier management schools are hopeful of a higher budget and sponsorship amount for their annual festivals which are held between October and March.Murdoch, son call on PM
Other high-profile meetings on agenda, too.S Madhavan: We\'re a long way from being ready for the GST
From setting the rates, to the constitutional changes required and the training needed, it is unlikely we will be able to implement it by April 2010, says S Madhavan.MSME ministry to fund innovative entrepreneurship ideas
The Ministry of Micro, Small and Medium Enterprises (MSME) has commenced a programme to promote the transformation of novel entrepreneurship ideas into business ventures by funding the projects.Indian SMBs lead in green spending
Sixty-three per cent of Indian IT organisations have deployed green server rooms to increase energy efficiency or have a pilot project underway, according to a joint study by IBM and the InfoTech Research Group.GCMMF hikes milk prices by Rs 1 per litre
Gujarat Co-operative Milk Marketing Federation (GCMMF), marketing its products under the brand Amul, will hike milk prices for the second time this year by Rs 1 per litre in the city from tomorrow, a senior federation official said today.India ranks 123 in pollution control; Iceland tops
India ranks 123 in 2010 Environmental Performance Index (EPI), while Iceland leads the world in addressing pollution control and natural resource management challenges, the latest EPI index has revealed.Oil India IPO price fixed at Rs 950-1,050 a share
The government today fixed a price band of Rs 950-1,050 per share for the initial public offering (IPO) of Oil India (OIL), the second state-run firm to hit the market this year, and will raise up to Rs 4,982 crore.Love, interrupted
If I Could Tell You is a rather modest title for a book that makes no pretence of doing anything else. You could have your own point of view on whether something so essentially personal, with no real context or history, should stretch to 200 pages between two hard covers, but there’s no doubting the sincerity of intent. “Me at my most truthful and unadorned,” the unnamed narrator says, as he weaves a lyrical tale of his life in a series of letters to his daughter.Food processing sector may fail to meet growth target
The $70-billion food processing industry is unlikely to achieve the ambitious growth target of 20 per cent due to lack of awareness, inadequate infrastructure and use of outdated technology at farms.Hero Honda to expand Haridwar facility
Hero Honda has decided to expand its Haridwar manufacturing facility after resolving issues with the State Infrastructure and Industrial Development Corporation of Uttarakhand Ltd (Sidcul) to retain its hold over the 94 acres of vacant land.Sensex firm; realty index up 2%
The Sensex continues to display firm trend in the last one hour. The Index is now at 17,648, up 105 points. The NSE Nifty is at 5,274, up 30 points.Govt mulls preferential shares to BSNL staff
Government today said it was mulling to give preferential shares for employees of BSNL as and when the consensus is reached on the Initial Public Offer from the state-run telecom operator.GVK Power Q2 net surges 45%
GVK Power and Infrastructure (GVKPIL), with interests in power, roads, airport, and aviation, reported a 45.19 per cent increase in net profit to Rs 44.23 crore for the second quarter ended September 30, 2009, as compared with Rs 30.47 crore in the corresponding period last year.India\'s M&A, PE deal activity to heat up
Driven by improved liquidity and business confidence, mergers and acquisitions (M&A) as well as private equity (PE) activities in the country are showing signs of recovery and the deal space is likely to see an uptrend in the coming months, experts said.Bulking up
Samsung has got its act together in mobile handsets. The journey forward could be tough.Fortis Healthcare net rises 23% at Rs 13 cr
Driven by robust growth in its larger units, hospital chain Fortis Healthcare today reported a 23.4 per cent increase in net profit at Rs 12.9 crore for the second quarter ended on September 30, 2009.SAIL cuts prices by up to Rs 2,000 a tonne
The country"s largest steel maker, Steel Authority of India (SAIL), today said it has cut prices of its long products — used primarily in construction — by Rs 1,500-2,000 per tonne and may further lower the rates if the situation so warrants.Madras HC halts Daiichi\'s open offer for Zenotech
Zenotech Laboratories today said the Madras High Court has ordered Japanese drug firm Daiichi Sankyo not to go ahead with the planned open offer for an additional 20 per cent stake in the pharma firm.Taro acquisition may cost Sun Pharma Rs 1,000 cr
Indian drug firm Sun Pharma may have to shell out up to Rs 1,000 crore this fiscal for acquiring Israel-based Taro Pharmaceuticals.FDCI announces Van Heusen Men\'s week
Men’s fashion will no longer be the neglected child of the Indian fashion world. While women’s fashion has almost two events every year, men’s fashion shows are showcased on the periphery. All this will soon change with the announcement of the Van Heusen Men’s Week by Fashion Design Council of India (FDCI) in September this year.Gold imports at 10-yr low, courtesy high prices
Global rates of the yellow metal jump 38.4% compared with 34% at home in 2009.Developers rush to get rid of SEZs in 2009
The mad rush to set up special economic zones that house export-oriented manufacturing units three years ago turned cold in 2009, as demand for commercial space waned due to the global meltdown.Anti-Posco activists burn letter from Posco
The efforts of Posco India to generate public support for its integrated steel project near Paradeep have aroused the wrath of the anti-Posco activists.Satyam granted one year extension to complete SEZs
The government has granted one year extension to Satyam Computer Services for completion of three special economic zones (SEZ) in Andhra Pradesh, giving elbow room to the new management of the IT firm.Mittal plans 6 mt plant in Karnataka
Investment likely to be Rs 30,000 crore.Kabirdass Motor plans to raise Rs 60 cr via IPO
Chennai-based electric scooter manufacturer Kabirdass Motor Company is planning to raise Rs 60 crore through an initial public offering to support its expansion plan and for setting up a manufacturing facility near here.A clean, free-flowing Ganga by 2020: Government
The Centre has expressed confidence that by 2020 the polluted river Ganga would be cleaned and Rs 15,000 crore will be spent on it. “The Union government is confident to clean the holy Ganga river by 2020 and Rs 15,000 crore will be spent for this purpose under the river development fund,” Environment Minister Jairam Ramesh said here.Students to block national highway on January 5
Students of the joint action committee (JAC) at Osmania University, the nerve centre of pro-Telangana protests, on Sunday said they would block all the entry points to Hyderabad, including national highways, in a bid to prevent leaders of Seemandhra (Rayalseema and Andhra) from entering the state capital on January 5.Analysts more optimistic about IT services companies
The year 2009 was one of the most challenging years for the Indian information technology (IT) services sector. Even as IT spends went down by almost 6-8 per cent globally, Indian IT companies had to grapple with the confession by Ramalinga Raju regarding a nearly Rs 8,000-crore fraud at Satyam Computer Services.Business upturn buzz in season\'s extravagant shows
For filmstar Bipasha Basu, the New Year festivities will be a hugely rewarding experience. As she spreads cheer among fellow Mumbaikars, Basu will get a whopping Rs 2.47 crore for a 15-minute song-and-dance appearance at Mumbai’s Sahara Star, a suburban hotel next to the airport.Power rules IPO market
"Power" seems to be the buzzword when it comes to big-ticket IPOs.Divestment to gain steam from April
30 companies in queue for Cabinet nod in JanR-Infra to commission projects worth Rs 10,000 cr in 7 months
Major growth driver will be transmission and road projects.CIL to import 4 million tonnes coal for NTPC
The country"s largest coal miner Coal India (CIL) will import 4 million tonnes of coal for state-run power company NTPC.India needs new land acquisition policy: Arun Maira
India urgently needs a new land acquisition policy as the present framework is outdated and does not adequately incorporate the interests of the owners and workers of the land procured by private firms, according to Planning Commission member Arun Maira.Allahabad HC order won\'t impact Bengal
Industrial projects in West Bengal are unlikely to be affected by the Allahabad High Court judgment that questioned the legitimacy of invoking the Land Acquisition Act for private companies’ projects by the ‘public purpose’ tag.Divestment blueprint for 2 years by March
The Centre is likely to prepare a blueprint for its disinvestment process for the next two years by the end of this financial year. At present, there are 61 unlisted profit-making public sector undertakings (PSUs) and 10 listed PSUs where the government could look to dilute its stake.\'No point killing the golden goose by hiking realty prices\'
Raghavendra Kamath / Mumbai October 21, 2009, 0:45 ISTRIL using power firms to fight its gas battle: RNRL
Anil Ambani group firm Reliance Natural Resources (RNRL) today hit out at power companies GMR and GVK for raising the bogey of unfair price advantage to it, saying that they had got into gas deals with Mukesh Ambani-led Reliance Industries (RIL) knowing that the agreement was subject to the outcome of the RNRL-RIL case.Depression help free. Kinds of depression, how to help someone with depression.