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Godrej Consumer Products (GCPL) today said it is interested in buying the international household products business of US-based Sara Lee to expand globally.
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.
A V Rajwade / New Delhi January 11, 2010, 0:50 IST
ElectraCard Services today launched an electra loyalty management system for Barclays Bank.
Public sector lender Dena Bank today said it has reported a marginal growth in net profit at Rs 111.17 crore for the fourth quarter ended March 31, 2009.
Concerned over high density of population in the cities, Urban Development Minister S Jaipal Reddy today said there was a need to go in for high rise buildings.
IDBI Bank is expected to formally shelve its plan to become the first public sector lender to introduce variable pay for its employees.
An express train carrying hundreds of passengers from Moscow to St Petersburg derailed, killing at least 22 people and injuring dozens of others, emergency officials said.
Congress MPs from Telangana region today met senior party leader and Defence Minister A K Antony demanding disciplinary action against Y S Jaganmohan Reddy for joining a TDP protest in Lok Sabha against the decision to carve out a separate state from Andhra Pradesh.
Amid a spate of attacks on Indians here, the Victorian government today said it will provide all relevant details to New Delhi on these incidents.
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.
Vijay Mallya-controlled Mangalore Chemicals and Fertilisers Ltd (MCF)has embarked on an agri project initiative with a twin objective of helping farmers use best farming practices and offer the consumer good-quality staples and vegetables.
The Vijay Mallya-led Kingfisher Airlines led the chart of the loss-making carriers by reporting a massive Rs 1,602 crore in losses in 2008-09, followed by Jet Airways with a loss of Rs 1,032 crore.
The Foreign Investment Promotion Board (FIPB) will again consider a proposal of Vijay Mallya-promoted United Breweries Holdings (UBHL) to raise Rs 708 crore by issuing convertible equity warrants in its meeting to be held on July 24.
Cash-strapped airlines have been pounded on another front suffering a loss of at least Rs 7 crore this year on account of bird hits.
Jindal Power Ltd, a part of Jindal Steel and Power Ltd (JSPL), today said it plans to raise Rs 7,200 crore from its initial public offer (IPO).
Merger and acquisition volume in the telecom space worldwide stood at $49.2 billion so far this year driven by the US-based Frontier Communications" $8.6 billion acquisition of Verizon Communications.
Indian automobile industry recorded an impressive 68 per cent growth in sales in December last year, thereby continuing with the push it had received from two stimulus packages since 2008-end and successfully beating the year-end blues.
MBL Infrastructure, which raised about Rs 102.6 crore through its initial public offer (IPO), will list its shares on the bourses tomorrow.
The country"s largest iron ore producer National Mineral Development Corporation (NMDC) is planning to file draft prospectus with the market regulator Sebi within a fortnight for its estimated Rs 14,000-crore disinvestment programme.
Industry sees second-highest monthly growth after November.
The bidding for the Uttar Pradesh government sugar mills has again been put off until November.
BS Reporter / Mumbai October 28, 2009, 0:17 IST
Diversified company Siemens today said its consolidated net profit rose by 17.53 per cent to Rs 704.60 crore for the year ended September 30, 2009.
Retail chain major Shoppers Stop today said it plans to raise Rs 250 crore to increase stake in its hypermarket chain, Hypercity to 51 per cent, a top company official said today.
Industrial and automotive battery manufacturer Amara Raja Batteries is planning to invest Rs 95 crore in 2009-10 to enhance its manufacturing capacity among others.
Two of the country"s top corporate stalwarts, Ratan Tata and Mukesh Ambani, today showered rich praises on Tarun Das, a day after he demitted office as Chief Mentor of business chamber CII, and described him as the face of modern Indian industry.
Shedding earlier reservations over some aspects of the controversial new FDI guidelines, the Finance Ministry now says it does not have any objection to new rules that changed the criteria for calculation of foreign ownership in a company and its downstream investment.
A day after the term of the outgoing Assembly in Maharashtra expired, Congress and NCP today held fresh discussions to sort out the vexed issue of portfolio sharing and break the deadlock over government formation.
I have invested in an SIP of HDFC Top 200 since 2005. Do I need to stop and start afresh , so that it does not attract entry load. Kindly advise.
How do fund houses charge the various taxes like dividend distribution tax, capital gains tax and securities transaction tax that a mutual fund is subject to? Are these deducted from the returns the fund generates?
The government"s fiscal deficit has reached almost half of the full-year estimate in the first six months of FY10.
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.
Volume expansion required for breakouts.
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.
Global commodities experienced a steep fall today, as investors and hedge funds across regions unwound their long positions after the news of Dubai’s debt crisis. Most commodities were down today between three and five per cent as the dollar strengthened. In late afternoon trade, however, prices recovered.
Bajaj Hindustan touched a low of Rs 230 - down 4% from the day"s high. It finally ended flat at Rs 233. The counter clocked a volume of 7.8 lakh shares on the BSE.
Iran is importing petrol from Indian companies, including Reliance Industries (RIL), National Iranian Oil Company (NIOC) Managing Director Seifollah Jashnsaz said today.
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.
Anil Dhirubhai Ambani Group firm Reliance Life Insurance today launched two new products -- Jan Samriddhi Plan and Super InvestAssure Plan here and aims to garner Rs 600 crore premium from them within this fiscal.
Wahid Mansoori (37) grew up watching Hindi movies from the 1930s. Courtesy his father’s habit of collecting Bollywood memorabilia, Mansoori now runs a business selling them.
In a bid to salvage the ambitious ethanol-blended petrol programme, state-run oil firms have agreed to pay 25 per cent higher price at Rs 27 a litre for ethanol they will buy from sugar mills for doping petrol.
Things are looking up for the DTH business. Why, then, is everybody so glum?
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.
Direct-to-home service provider Dish TV today reported a net loss of Rs 56.13 crore for the second quarter ended September, narrowing down from its loss of Rs 154.11 crore of the year ago period.
Business Standard / New Delhi December 30, 2009, 0:57 IST
Suven Life Sciences Limited, a Hyderabad-based biopharmaceutical company specialising in central nervous system (CNS) diseases, has presented the clinical Phase-I data for its SUVN-502 drug at the 2009 Alzheimer’s Association International Conference in Vienna, Austria.
Kishore Biyani to revamp existing print media business, introduce tailor-made packages for TV advertisers
Reliance Communications (RCom) is believed to be in advanced talks with Canadian firm Iseemedia Inc for mobile mail gateway agreement that will provide email facilities to low-end handsets.
The Asian markets succumbed to selling pressure to end on the lower side.
Public sector lender UCO Bank today said it will convene a meeting of its shareholders to decide whether it should come out with a follow-on public offer (FPO) or placement of shares to qualified institutional buyers to raise funds.
Rajesh Bhayani / Mumbai January 30, 2010, 0:05 IST
Stumbling blocks for resolving the gas row between the Ambani brothers can be removed by putting together the family MoU and the demerger scheme, Anil Ambani-led Reliance Natural Resources (RNRL) told the Supreme Court today.
Move to be part of a global expansion plan
Dish TV, the direct-to-home (DTH) arm of Subhash Chandra’s Essel group, will raise Rs 1,000 crore from foreign markets, issuing foreign currency convertible bonds (FCCBs) in a month.
“Reverse swing at Kotla”, Dec 29, was a wonderfully argued piece. At a time when everyone is criticising the Delhi and Districts Cricket Association (DDCA) for producing an unplayable pitch, you have put things in perspective.
Chodavaram Cooperative Sugar Factory expects a decline in sugarcane crushing this season as against the 350,000 tonnes crushed during the last season.
Steel Authority of India Limited (SAIL) chairman Sushil Roongta was in Beijing in October for induction in the hallowed committee of the World Steel Association now chaired by Lakshmi Mittal. Being an astute business diplomat, he made use of the visit to find out what China was going to do with its rapid steel capacity build up and production.
Kumar Gallery in Delhi turns 55.
For the December 2009 quarter, SAIL saw net sales at Rs 9,880 crore up 11 per cent year-on-year, in line with market expectations, even as seasonal impact saw sales dip 2 per cent sequentially. The company’s steel sales was at 2.9 million tonnes (mt) in the recently concluded quarter against 3 mt in the September 2009 quarter and 2.4 mt in December 2008 quarter.
Riding on several new products and increased investments in brands, biscuits major Britannia Industries has posted a 17.4 per cent increase in net profit at Rs 47.37 crore for the first quarter ended June 30, 2009.
India Inc"s staff cost went up by 11.2 per cent during January-March last fiscal growing at a lesser pace than the previous three quarters of 2008-09, reflecting the economic slowdown, according to a Reserve Bank of India (RBI) study.
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.
Airtel, Vodafone-Essar favour delinking; Reliance, Tata oppose.
Mobile services provider, Bharti Airtel, reduced its roaming rates by nearly 60 per cent. Customers who enroll into the Airtel Turbo plan will now be charged at 60 paise per minute for all incoming calls while on roaming. The new plan is available for both existing and new customers effective Friday.
The stock jumped 11 per cent to Rs 50.65, after the government approved a proposal under which the telecom equipment manufacturer will continue to get orders for 30 per cent of the product requirement of BSNL and MTNL.
Mobile phone users would have to wait anywhere from three to six months for the freedom to switch operators without losing their existing number, as companies are yet upgrade their networks.
Retail participants have provided relief to private equity (PE) players raising funds.
After being unsuccessful with South African telecom MTN, Bharti Airtel is eyeing Bangladesh to expand its footprint.
IT security solutions major Symantec today said it has partnered with technology major Hewlett Packard (HP) for providing online backup to HP"s consumer desktop and notebook PCs globally.
Vandana Gombar & Joe C Mathew / New Delhi December 01, 2009, 19:57 IST
Suven Life Sciences Limited, a Hyderabad-based biopharmaceutical company specialising in central nervous system (CNS) diseases, has received patents corresponding to three new chemical entities (NCEs) for the treatment of disorders associated with neuro-degenerative diseases.
Atul Sobti took over as the chief executive officer and managing director at Ranbaxy Laboratories, six months ago. He wants to make Ranbaxy (now owned by Japan’s Daiichi Sankyo) the largest drugseller in India, a market that is price-controlled, but growing. This focus on the domestic market is not due to the problems that the company has been facing in the US, he tells Vandana Gombar and Joe C Mathew in an interview where he also makes a case for direct subsidy for medicines instead of price controls. Excerpts:
The Supreme Court today agreed to examine on December 15 the Centre"s Special Leave Petition (SLP) challenging the Delhi High Court"s order which held as arbitrary allocation of 2G spectrum to certain telecom operators by Telecommunication Ministry headed by A Raja.
Anil Ambani-led RNRL today contended before the Supreme Court that it has an "unqualified" right to get gas at $2.34 per unit for 17 years from RIL which will along with the Government not suffer any loss at this rate.
The market could test 5,300 going into the December settlement
After much dilly-dallying, the ‘Passport Seva Project’, which aims at expediting the process of issuance of passport by digitising the passport services, would be rolled out by early 2010.
The Rs 380-crore tender is part of the Accelerated Power Development and Reform Programme of the central govt.
The Imperial, Delhi, tries its best to turn you into a master chef.
Irda panel moots each lender tying up with two life, two non-life and two health insurers.
The Mukesh Ambani-led Reliance Retail plans to open as many as 45 books and music stores under the brand name of Reliance TimeOut, over the next five years.
Indian Premier League (IPL), the annual Twenty20 cricket championship aired on SET Max, will make a homecoming of sorts this year. In 2009, the second edition of IPL was played in South Africa because it coincided with the General Elections and the country’s security apparatus was stretched. This time it’s back to the country of its origin.
In what may become a revolution in entertainment, accessing television via cable, IPTV or interactive DTH services is soon going to be via wireless, on the lines of a wi-fi internet connectivity.
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.
Asian markets ended mixed today. The Hang Seng added 122 points to 20,244. The Nikkei was up seven points at 10,205.
The markets are trading in the positive zone as global markets have improved on news of easing Dubai fears. Abu Dhabi has lent $10 billion to Dubai as emergency funds.
A day into the Copenhagen climate change meetings, the Ministry of New and Renewable Energy (MNRE) has indicated that it has no definite roadmap to implement its ambitious target of 20,000MW of solar power by 2022.
Government today said it was carrying out research and development for using hydrogen as an alternative fuel for running transport and other power generation applications.
The Government today said that it has approved the Jawaharlal Nehru National Solar Mission with an aim of setting up 20,000 MW grid solar power and 2,000 MW off-grid solar power by 2022.
Shree Cement today reported 17.66 per cent increase in sales for January 2010 at 8.82 lakh tonnes.
Markets have continued to gain. The Sensex is at the day"s high of 15,418, up 183 points. The Nifty is at 4,572 - down only six points from the day"s high. The index is up 48 points from the previous close.
The Sensex is now at 15,375, up 144 points. The NSE Nifty is at 4,566, up 43 points.
American companies are planning to hike employees" salaries next year to retain talent as the economy is showing signs of recovery, says a report by consulting firm Mercer.
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.
During the last few weeks of the year, accounts departments of companies start asking employees to give documents to back up their section 80C declaration made at the beginning of the financial year.
Progress on infrastructure, real estate and power projects will determine value creation in the long run.
Accelerating mobile PC shipments will drive the worldwide PC market to grow again, according to Gartner Inc, an information technology research and advisory company ‘s preliminary fourth-quarter forecast. In 2010, PC shipments are projected to reach 336.6 million units, a 12.6 per cent increase over 2009.
Even as the government is gearing up to auction radio waves for the next generation mobile services, credit rating agency Fitch today said it is closely monitoring the impact of the cost for pan-India 3G licence on the revenues of Bharti Airtel.
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.
The southern cement major India Cements is going to considerably increase its recently acquired holding in Indo Zinc in Rajasthan. Indo Zinc holds a limestone mining lease in Rajasthan — an indispensable input for manufacturing cement.
A local court here today extended the judicial remand of B Ramalinga Raju and other accused in the multi-crore rupee fraud in Satyam Computer by 14 days.
The gem and jewellery industry has sought enhanced dollar liquidity, lower lending rates, a 2-year tax holiday and turnover tax and import duty reductions as part of budgetary relief, a top industry official said.
Business Standard / New Delhi January 1, 2010, 0:17 IST
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.
Business Standard / New Delhi August 20, 2009, 0:46 IST
Bloomberg / October 27, 2009, 0:05 IST
The Andhra Pradesh government has decided to order a CBI inquiry into the helicopter crash in which former chief minister YS Rajasekhara Reddy and four others died.
The first thing that our government did in 2004 was to implement a large number of programmes to immediately reach out to the farmers and other rural artisans who were in serious distress. These included waiver of the power dues of farmers, supply of seven hours free power to farmers, reschedulement of loans and interest, etc.
Sometimes the quintessential celebrity byte — “No comments” — saves the day
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.
Ten power companies, including NTPC, Ratnagiri Gas and Power Pvt Ltd (RGPPL), Lanco and GMR Energy, will get KG-D6 gas in the second round of allocation decided last month, confirmed a government release issued on Monday. The decision has been reported already. Reliance Industries Ltd (RIL), operator of the D6 block in the Krishna-Godavari basin, will also be getting gas for consumption at its refineries and petrochemicals business, as well as for its captive power plants.
Plans aggressive push to Pulsar and Discover ranges.
SBI Caps heads global loan chart; power sector dominates.
The cash reserve ratio (CRR) hike and a higher inflation forecast by the Reserve Bank of India (RBI) will not have much impact on the stock market as both have already been factored in by market participants, experts said.
The Reserve Bank of India (RBI) has done the right thing by hiking the Cash Reserve Ratio (CRR) by 0.75 per cent to 5.75 per cent, a top banker said.
Omkar Goswami / New Delhi December 31, 2009, 0:48 IST
The Telangana agitation over the Centre’s decision to create a new state in the region has forced several companies, including Bharat Forge, the Lakshmi Mittal Group and the NTPC-BHEL joint venture, to either put their expansion plans on hold or explore other states.
The government said today the role and responsibilities of independent directors on the boards of companies would be fixed as also the number of firms they could represent once the Companies Bill, 2009, became a law.
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.
Panacea Biotec settled up 5% at its upper circuit limit of Rs 183. The counter clocked a volume of 11,424 shares as against its two-week average trades of 19,885 shares.
In another indication of Big Pharma’s growing interest in India’s drug manufacturing capabilities, French drug multinational Sanofi Aventis has announced plans to acquire Merieux Alliance’s majority stake in Hyderabad-based vaccine firm Shantha Biotechnics.
While launching a report on ecosystem services and biodiversity, Jairam Ramesh Union minister of state (independent charge) for environment and forests said that he didn"t know that there also existed blue and brown carbon besides green and black carbon. “These colours of carbon can be the answers to Benetton,” he joked.
India has said that there is now better understanding of its position on climate change in the US, which recognises that emission cuts is not the only way for countries to reflect their domestic obligations globally.
As Prime Minister Manmohan Singh is all set to make another serious bid to clean up the river Ganga, the World Bank has agreed in principal to make available $1 billion for the purpose.
ONGC and ONGC Videsh (OVL), the overseas investment arm of ONGC, in association with the Hinduja Group and Petronet LNG, have entered into two broad enabling agreements with Iranian authorities for participation in development of gas fields and liquefaction facilities in Iran, in return for assured minimum six million tonnes a year of LNG on long-term basis. ONGC made an announcement on the Bombay Stock Exchange (BSE) today.
M J Antony / New Delhi November 25, 2009, 0:06 IST
Government-owned India Infrastructure Finance Company Limited (IIFCL) expects to disburse close to Rs 11,500 crore this financial year.
Nation’s defence units will showcase their defence capability at a week-long defence show, organised for the first time during the on-going Dasara celebrations here.
India"s position that disgraced Pakistani nuclear scientist A Q Khan could not have acted individually stands vindicated with his admission that Islamabad was involved in the proliferation activities involving China, Iran, North Korea and Libya, experts say.
Bangalore has been chosen as the location to set up India’s first major stem cell institute. The institute for Stem Cell Biology and Regenerative Medicine, called inStem will be set up by the Department of Biotechnology (DBT), government of India at an investment of Rs 200 crore.
David Pauly / November 1, 2009, 0:34 IST
Brian Moynihan, Oswald Gruebel and Josef Ackermann, leaders of some of the world’s biggest banks, met during the World Economic Forum in Davos, Switzerland, to plot how to reassert their influence with regulators and governments.
India has a huge infrastructure problem and the solution so far appears to be to throw more money at the problem, without much effort to fix the core issues. A McKinsey analysis suggests India could lose up to around 10 per cent of GDP in the year 2017-18 due to shortage of infrastructure. While this is not a startling result, what is worrying is that the quality of expenditure has gone down with more money being spent. So, in the power sector, actual expenditures have fallen from 75 per cent of those planned in the 9th Plan period to a mere 58 per cent in the 10th one — roughly speaking, the 9th Plan was the NDA period and the 10th Plan the UPA’s first term.
Ranbaxy Laboratories has entered into a licensing agreement with South Korean firm Medy-Tox Inc for selling its cosmetic product, Neuronox, in India.
Even as most analysts are saying the worst of the economic downturn is over, a survey by the PHD Chamber of Commerce reveals only 30 per cent of the respondents plan to increase their hiring activity.
Away from the glamour, but important nevertheless
A crucial test to gain admission in business schools in the US has seen a fall in aspirants for the first time in five years. Applications for the graduate management admission test (GMAT), administered by the Graduate Management Admission Council (GMAC), have dipped 9 per cent from around 6,260 in 2008 to 5,700 in 2009.
India hasn’t reached the stage where top professors acquire celebrity status, but it could be getting there. At an event organised by the All India Management Association, a student asked IIM Bangalore Director Pankaj Chandra for his autograph. Professor Chandra was a bit taken aback and suggested the student get autographs of important persons at the function — the student was adamant, so Chandra obliged.
The retail sector in Kolkata has adopted a wait and watch situation with retailers still wary of what lies ahead. What started as a big set-back for the retail industry in end-2008 with several malls and retailers shutting shop, the year 2009 was particularly bad for the industry with several cancellations of booked spaces and deferment of sanctioned projects.
The Bombay Stock Exchange benchmark index Sensex today recovered from its six-week lows, gaining 91 points on firm global cues and on emergence of brisk buying by funds in key sectors like metals and PSUs, among others.
Faced with a heavy tax burden, the small-scale wall clock makers of Morbi (Gujarat) are diversifying into ceramics, stationery items and retail. Besides, the industry is also losing ground to the metros and cities like Bangalore, where clock manufacturing has started picking up and taxation levels are lower, Morbi players claim.
Allaying fears of broadcasters over content regulation, the Central government today said any regulatory mechanism would be formed only after consultations with stakeholders and the industry"s larger interests will be taken into consideration.
The government is considering extending incentives to the services sector, battling demand recession in Western economies, in the Foreign Trade Policy to be unveiled next month.
Millions of people from Sydney to Sweden are set to switch off their lights on March 27, as part of the global "Earth Hour" campaign to highlight climate change, organisers said today.
Telecom solutions and services provider Aricent today said its has earned an all-time high ever revenue of $460 million in FY09 and is looking at listing on Indian bourses in the next three years.
Last week, I had suggested that Commerce Minister Anand Sharma should announce an ad hoc Foreign Trade Policy (FTP) for the remaining eight months of the current year (2009-10). It now appears that he will opt for a long-term policy, with some measures that have sunset clauses. The basic framework of the 2004-09 policy may be preserved and most of the export promotion schemes retained. Whether some rationalisation of the schemes, ad hoc measures to help distressed sectors and moves to reduce transaction costs within the existing framework will sufficiently help exporters hit by slack demand abroad is a matter of doubt.
A few days back, if you were at Mumbai’s Dadar Railway Station or at Delhi’s Rajiv Gandhi Chowk Metro Station, you could not have missed a man sprawled on a sofa with a cushion that read: “Reserved for Abhishek Bachchan classes”. Is Bachchan Jr preparing for an alternate career? Not really. This is on-ground activation aimed to create a buzz for the newest reality show on Colors, National Bingo Night. It will of course be anchored by Bachchan Jr.
Contrary to the perception that Direct-to-Home (DTH) television technology is an urban or a metro phenomenon, 70 per cent of its DTH subscribers reside in rural areas and towns with a population under a million. And metros like Delhi or Mumbai contribute only 2-3 per cent to the overall DTH subscriber base of 13.2 million, say the findings of a report by Francis Kanoi, a leading marketing research firm.
Nilanjana S Roy / New Delhi December 1, 2009, 0:39 IST
Most of these families are looking at private equity funds as a way to earn fee-based income.
To widen the probe against former Jharkhand Chief Minister Madhu Koda and his associates for alleged illegal investments worth Rs 2,000 crore, the Income Tax (I-T) department and Enforcement Directorate (ED) will share information with various central economic intelligence agencies.
Korean consumer durables maker LG Electronics today said it will hire around 4,000 people in India in next three months to enhance its after-sales services in the air conditioner segment.
Prices of sugar in Uttarakhand have reached an all-time high of Rs 42-44 per kg in the retail market, thanks largely to sugarcane shortfall.
Eight companies have submitted applications for the Rs 12,132-crore Hyderabad Metro Rail Project which will be executed on a design, build, finance, operate and transfer basis in public-private partnership.
Prison inmates at Sabarmati Central Jail in Ahmedabad are all set to receive medical treatment through satellite connectivity. Healthcare group Apollo Hospitals will launch its "telemedicine" facility at the jail, to provide telemedicine consultations to its inmates. The Indian Space Research Organisation (ISRO) will provide the technology for the treatment, an official from the hospital said.
India"s moon mission has proved to be quite economical and cost much less compared to what other countries have spent on their projects, mission director M Annadurai said here.
Keeping in mind the panic created by swine flu and its adverse impact on academic activities across the country, the Indian Institute of Management, Ahmedabad (IIM-A), is preparing recommendations to be issued to various schools and colleges in the country. Once ready, the management institute, which has witnessed four cases of swine flu on its campus, will submit the recommendations to the state and central governments for further dissemination to academic institutes.
Tamiflu, the only drug for swine flu, will be made available in 480 chemist outlets across the country, the Centre today said.
The government is reminding the Chief Justices of High Courts to initiate the process of filling up the vacancies of judges, Law Minister M Veerappa Moily said, pointing out that there are seven vacancies in the Supreme Court and 240 in High Courts.
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.
Swiss pharmaceuticals company Novartis AG said today it has successfully produced a first batch of swine flu vaccine weeks ahead of expectations.
Healthcare services provider Zydus Cadila has filed an application before the Drugs Controller General of India (DCGI) for its anti-diabetic drug.
Mexico will push for a binding international agreement to cut greenhouse gas emissions when it hosts the next climate change summit in Mexico City in the coming year.
Global rates of the yellow metal jump 38.4% compared with 34% at home in 2009.
The central government’s invitation to global pharmaceutical companies to conduct clinical trials here of their H1N1 (swine flu) vaccine candidates has evoked only a limited response. Only two companies, Novartis and GlaxoSmithKline, have come forward to seek regulatory approval for such trials in India, it is learnt.
The Telugu Desam Party (TDP) today asked the Andhra Pradesh government to review its policy on special economic zones (SEZ) and safeguard the interests of farmers and fishermen while implementing them.
Investment likely to be Rs 30,000 crore.
Russian gas exports dropped by 37.7 per cent to 69.5 billion cubic meters in January-July 2009, as compared to the previous year, the Federal Customs Service has said.
The country"s largest steel maker, Steel Authority of India (SAIL), today reported a 32 per cent growth in sales at 1.3 million tonnes in December 2009.
Industry lobbies have begun pre-budget consultations with the Union finance ministry for 2010-11. Representatives of the Confederation of Indian Industry (CII) and the Federation of Indian Chambers of Commerce and Industry (Ficci) met revenue secretary P V Bhide to discuss the coming budget.
FIIs back in the game, buy shares worth Rs 769 crore.
In a move that could finally open up the power market in India, the power ministry has floated a Cabinet note to resolve a contentious issue in implementing open access that allows large users — typically consuming 1 Mw and above — to choose their electricity supplier.