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The World Bank has approved the National Cyclone Risk Mitigation Project (NCRMP) for implementation in Orissa. This follows the submission of the report on the project by the appraisal mission of the Bank which visited the state from 3 December to 5 December 2009.
Aditi Phadnis / New Delhi December 12, 2009, 0:15 IST
Aditi Phadnis / New Delhi October 3, 2009, 0:48 IST
Construction work on complexes to provide rail users with facilities like shopping and food courts at 66 railway stations will begin in a month, Railway Minister Mamata Banerjee said today.
Overseas borrowing by India Inc declined by around 9 per cent in November to $2.35 billion compared to the previous month.
Business Standard / Mumbai February 1, 2010, 1:49 IST
The Reserve Bank of India (RBI) today tightened the guidelines for external commercial borrowings (ECBs) by withdrawing relaxations provided to companies to raise money from overseas debt markets, a move that will contain surge of capital flows.
National carrier Air India today said its passengers bookings in the last two days have regained the 26,000-28,000 level it had registered before the five-day stir by its senior pilots.
The government will soon invite bids for 10 mega highway projects under, pubic-private partnership, and is in the process of making feasibility reports.
Credit offtake was expected to pick up in the coming months on the back of policy steps taken by the Reserve Bank of India (RBI) to boost credit growth, Minister of State for Finance Namo Narain Meena said today.
Public sector telcos BSNL and MTNL together have Rs 41,471 crore cash on hand as of September 2009, the government said today.
Cases of attacks on Indians in Australia have increased more than five fold this year compared to last year, the Rajya Sabha was informed today.
Jindal Saw"s board has announced that it would split its equity shares, with a face value of Rs 10 each, into five equity shares of Rs 2 each.
Road Transport and Highways Minister Kamal Nath said here that India had increased its per-day construction of roads to 9 km and the target of developing 20 km daily would be accomplished by April.“We have reached 9 km per day of road construction and will hit our target of 20 km a day by April,” Nath, who was here to hold talks with the Malaysian government to invite them to enter the highway construction sector in India, said.Thirty-five Malaysian companies are already involved with various infrastructure projects in India.To construct 20 km of raods a day or 7,000 km a year, there had to be 20,000 km of work in progress, he said.
With trends throwing up a hung Assembly in Jharkhand, Congress today said people expect its secular alliance to form a government in the state as they have elected them as the largest group.
The Trinamool Congress got a letter from the parliamentary affairs ministry asking it to nominate a party MP for an overseas tour. Railway Minister and Trinamool chief Mamata Banerjee took less than a second to decide and nominated singer-turned-politician Kabir Suman.
Natco Pharma touched a high of Rs 134 and a low of Rs 124. The stock finally ended with a 5.2% at Rs 129. Around 2.96 lakh shares were traded on the BSE as against the two-week average trade of 1.06 lakh shares.
Parliament today passed a bill that introduces a new sugarcane price regime, after government allayed concerns of Opposition that the states will not be required to pay the difference between the Central and the State Advised Price to farmers.
Disinvestment plans likely to get delayed in 21 out of 43 listed companies
Shiv Sena supremo Bal Thackeray is back, in an implicit admission that he erred in his political judgement. A few years ago, Thackeray had annointed his son Uddhav as the party’s executive president bypassing his cousin Raj, who went on to form the Maharashtra Navnirman Sena (MNS). Incidentally, the MNS spoiled the prospects of the Shiv Sena in the recent Maharashtra Assembly elections.
ICICI Securities, Citigroup and Morgan Stanley along with 14 other merchant bankers have submitted bids to manage the estimated Rs 14,000-crore disinvestment of the state-run iron ore producer NMDC.
For journalists, pundits and comedians, the end of the year provides an opportunity to look back, fantasise forward and let the creative juices flow.
CMD Shanghvi’s hard-hitting letter contrasts financial returns of the two firms.
The next date for arbitration hearings on the terms of sale of the government’s residual 49 per cent stake in Bharat Aluminium Company (Balco) to Sterlite Industries is January 31. A three-day hearing by a panel of three retired judges of the Supreme Court concluded today.
Australia’s Deputy Prime Minister Julia Gillard has said the country is committed to the education revolution involving international students.
Days after a 21-year-old Indian was stabbed to death here, the Australian police today said that a partially-charred body of another youth from the country was found in New South Wales, even as Canberra asked New Delhi not to whip up “hysteria” over such incidents.
As India issued a travel advisory for Australia following unbated assaults and killing of its citizens, Deputy Prime Minister Julia Gillard insisted that her country is safe for all international students and said "acts of violence" occur in big cities around the world.
Nobel Laureates / October 11, 2009, 0:06 IST
A V Rajwade / New Delhi September 26, 2009, 0:41 IST
An Indian man, whose partially-burnt body was found in Australia"s New South Wales (NSW) state last week, could be the victim of a labour dispute.
Sliding queries from India and strong Australian dollar will lead to up to 10 per cent drop in the number of international university students later next year in Australia, according to a report.
Having a large number of educational and research institutions, Mysore no wonder is a book lovers’ paradise for book sellers, both local and others. A huge number of student population is always looking for textbooks and related books, both new and second hand and to serve them and other buyers, book sellers keep organising book exhibitions regularly at one venue or the other.
Unfazed by reservations from nations like the US and UK, the Government appears to be in no mood to relent on the new visa rules for tourists, saying it would not like to compromise with the country"s security interests.
India today said it is not in a position to resume the composite dialogue with Pakistan till "vigorous prosecution" is mounted against the accused in the 26/11 case and the infrastructure of terror across the border, responsible for the numerous attacks, is dismantled.
Oil rose further in Asian trade today, underpinned by a better-than-expected expansion in the US manufacturing sector, analysts said.
The European Central Bank (ECB) today retained the benchmark rates, continuing with its low interest rate regime to boost the region"s economic recovery.
The power ministry has asked the petroleum ministry to place a proposal before the empowered group of ministers (EGoM) to allot 12 million standard cubic meters per day (mscmd) of gas from the KG-D6 block to state-run NTPC at $2.34 (about Rs 107) per million British thermal unit (mBtu).
Gold futures prices declined by 0.11 per cent on the Multi Commodity Exchange today as speculators indulged in reducing their positions in tandem with weak overseas trend.
Reliance Industries, which has proposed to invest $1.5 billion more in developing satellite gas finds in the prolific KG-D6 block, will drill six wells this year.
Drug maker GlaxoSmithKline Pharmaceuticals today said its net profit for the first quarter ended March 31, 2009, rose by 18.14% to Rs 143.27 crore.
Come 2010 and the small-car market is likely to witness intense competition with at least four new players set to launch their products in the market.
A fine legal question has arisen which is whether a board"s circular can make a classification prospective when legally it is retrospective. This has arisen because of a Supreme Court judgement in the case of Jai Fibres Ltd vs CCE, Mumbai — 2007(218)ELT484(SC) interpreting the retrospectivity of classification on the basis of a CBEC Circular No.54/12/91-CX.1 dated 24.7.1992.
Jamal Mecklai / New Delhi July 24, 2009, 0:34 IST
Food inflation softened marginally to 18.65 per cent for the week ended December 12 though inflation rates for cereals and pulses, which constitute the essential consumption basket, continued to be in double digits.
The government today ruled out additional borrowing in the current fiscal.
In the long run,” John Maynard Keynes had famously said, “we are all dead.” Keynes may not have been quite dead, but he had lived a ghostly half-life in the corridors of central banks and within the academia for decades. Now with the failures of unbridled capitalism on a global scale, he is back in fashion, along with Marx. John Cassidy, the finance correspondent for the New Yorker has come with How Markets Fail: The Logic of Economic Calamities (Allen Lane/Penguin £25), which draws heavily on Keynes to recount the story of America’s housing boom and the failures of regulators and self-deception of bankers that led to the present financial crisis. The book is a sequel to Cassidy’s earlier book DotCon that dealt with the stupidities of the stock market bubble in the late 1990s, but both deal with one central idea: the belief that society is best served when individuals are left free to pursue their self-interest was “Utopian economics” and led to disaster because of “the crooked timber of humanity”, and the uncertainty that is inherent in any human enterprise.
Have Marx and Engels had a rebirth of sorts because of globalisation and its discontents, and the world financial crisis that has hit us all? In a celebrated passage in The Communist Manifesto (1848), they had warned of a fundamental change in human affairs with the process of globalisation underway:
The government today said it has approved revival of 36 sick central public sector enterprises (CPSEs) that will require Rs 2,921 crore of cash infusion, besides Rs 12,333 crore of other assistance.
India"s leading private lender ICICI Bank"s UK subsidiary has been accused by the Employment Tribunals in London of mistreating a whistleblower, a media report says.
Railway Minister and Trinamool Congress chief Mamata Banerjee today hit her predecessor Lalu Prasad where it hurt him most—on the supposed turnaround of Indian Railways during Prasad’s regime.
The paper industry may recover its losses from the next quarter due to an expected rise in demand because of robust industrial and economic growth. The industry was suffering from overcapacity, low demand and competition from cheap imports. While no fresh capacities have been added in the recent past except in the writing and printing paper segment, analysts hope the demand to improve soon.
The union government may soon decide on keeping half of the electricity it is entitled to from public sector power generating units for sale to states.
Drug maker Cipla today said it will raise Rs 1,500 crore from international market by issue of securities.
An exclusive supplier of raw materials and technological advanced machinery for smart card manufacturing, Maze Cards India Pvt. Ltd. plans to now supply modules to Gujarat government for driving license smart cards. The company is in talks with the Gujarat government for supply of modules or chips used in the driving license smart cards.
Future Brands, a subsidiary of the Kishore Biyani-promoted Future Group, will focus on the FMCG segment as part of a plan to increase the share of private labels in the company"s retail formats.
As is now well known, the Task Force appointed by the Thirteenth Finance Commission, Government of India, has issued a report on December 15, 2009 detailing the recommendations on various issues relating to the design and implementation of the proposed GST in India.
Malaysian conglomerate Ascenteus Holdings is looking to raise $40 million - $50 million (Rs 185 crore - Rs 235 crore) via the private equity route in India to part-fund its $400-million mega residential project coming up in Kuala Lumpur.
Hyderabad-based MLR Motors, which failed to achieve financial closure for its Rs 1,250-crore project, got a fresh lease of life with the Andhra Pradesh government agreeing to extend the deadline till March 31, 2010.
History repeats itself. It was the fast unto death of Potti Sriramulu that heralded the formation of Andhra Pradesh and the subsequent reorganisation of states on a linguistic basis in the 1950s. This time, it is Chandrasekhara Rao’s fast whose reverberations are indicative of the fact that another redrawing of the map is on the anvil.
TRS supremo K Chandrasekhar Rao today threw the ball in Centre"s court on the creation of a separate Telangana state and insisted that Hyderabad will be the capital of the proposed state.
The government and various PSUs may be on an austerity drive, but this didn’t stop ONGC from sending a calendar to a director in the oil ministry by registered post — the stamps on the calendar were worth Rs 122. It would have been cheaper for ONGC’s office in the capital to send it with a driver.
Bharati Shipyard is mulling a Rs 200-crore capital expenditure over the next two years, a top company official said.
Andhra Pradesh chief minister said the Telugu film industry, headquartered in Hyderabad, has hinted at moving to new locations if the turmoil in the state continued.
Amid growing opposition to the human consumption of genetically-modified brinjal, also referred to as Bt brinjal, in various quarters, Environment and Forests Minister Jairam Ramesh will travel across the country in January to hold consultations.
A meeting of officials of the Orissa government, ArcelorMittal and Posco will be held this week to clear the hurdles delaying investment of around Rs one lakh crore in the state by the two global steel giants.
World’s largest steel maker ArcelorMittal will sell its 28.6 per cent stake in Canada-based Wabush Mines for about $34.28 million.
Mergers and acquisitions (M&As) and private equity (PE) investments in India dipped both in value and volume terms in 2009 due to the global slowdown. This, along with the sharp run-up in the equities in the second half of the year and too much liquidity globally, has made deal closure an arduous task for PE players. Despite this, the players are hopeful that the investment market will improve in 2010. The value of deals (both PE and M&As) announced in calendar year 2009 (January to December 13, 2009) was $21.20 billion as against $41.54 billion, a decline of nearly 49 per cent. During 2007, the value was $70.14 billion, according to data compiled by Grant Thornton.
Air Deccan as an airline may have flown into sunset with Kingfisher buying it out two years ago, but the brand continues to fly the Indian skies as about 10 jets of the erstwhile carrier are yet to be repainted by the new owner.
With the acute ethanol shortage derailing the programme to blend the sugarcane extract in petrol, Oil Minister Murli Deora will meet Agriculture Minister Sharad Pawar next week to salvage the programme.
Mahindra Satyam today said its board has approved settlement of lawsuits brought by its former client Upaid Systems by paying $70 million.
The robust bookings are in spite of travel advisories issued by Western and pacific countries.
2009 saw a high-voltage legal battle between the Ambani brothers over the gas dispute reaching the Supreme Court with a judge withdrawing from the bench.
The Mukesh Ambani-led Reliance Industries (RIL) is not responding positively in connection with the contract awarded to it for revival of the closed sugar mill at Motipur in Bihar"s Muzaffapur district, according to state Industry minister Gautam Singh.
The Orissa government has granted Prospecting License (PL) in favour of Bhushan Steel Ltd (BSL), over an area of 280.755 hectares spread over Marsuan,Tiriba and Narasinghapur villages in Keonjhar district. This follows the Centre’s prior approval to the proposal.
Offers, high ones, are coming in before placements officially start.
Domestic air traffic in April was 14.8 per cent less compared to the same period last year. On the other hand, passenger load factors for all carriers rose significantly compared to the previous month, as a result of smarter pricing and cuts in capacity.
Strong brands, value for money strategy and focus on new markets and products will help Godrej Consumer sustain high growth rates.
CPI(M) Politburo member Sitaram Yechuri was invited to participate in the Hindustan Times Leadership Summit. While giving him the invite, the organisers told him about the other participants, including former US president George Bush. When Yechury was asked the time that would be convenient to him, he made just one request — ensure the maximum possible time gap between his and Bush’s sessions. Bush addressed the summit on Saturday morning while Yechury, along with the Bharatiya Janata Party’s Sushma Swaraj and Shiromani Akali Dal’s Sukhbir Singh Badal, took the stage after a few hours.
Facing allegations of irregularities in spectrum allotment, Telecom Minister A Raja today hit out at the BJP saying free distribution of radio frequency among operators during the NDA regime may have cost the country over Rs 1.6 lakh crore.
IT firm Mahindra Satyam (formerly Satyam Computer) today appointed Deloitte as auditors, within days of CBI charging Price Waterhouse of complicity in the Rs 14,000-crore accounting scam.
A K Bhattacharya / New Delhi December 30, 2009, 0:02 IST
15 villages already on the traveller’s itinerary; 135 more on the way.
Companies in dire straits often roll the dice in a bid to stave off bankruptcy. The problem is that last-ditch efforts to raise new funds or restructure often come at the expense of bondholders. Struggling companies, their advisers and lenders should think twice about such strategies after an almost $700-million judgment last month against Citigroup Inc, Bank of America Corp, Wells Fargo & Co and other lenders, in connection with the bankruptcy of home builder Tousa Inc.
Credit Suisse Group AG, Switzerland’s biggest bank by market value, reported the highest quarterly profit in more than two years on gains from trading.
Business Standard / New Delhi October 13, 2009, 0:04 IST
Reliance Industries today said PMS Prasad, who has been recently inducted into the company board, holds 17,433 equity shares in the company but does not own any derivatives of the shares.
When the Union Budget was presented earlier in the year, the Ministry of Home Affairs (MHA) outlay was raised 33 per cent over the previous Budget, up from Rs 25,500 crore to Rs 38,000 crore.
Fresh trouble appears to be brewing over non-vacation of spectrum by Defence Ministry, a move that could frustrate the Telecom Ministry"s scheduled auction of third generation (3G) radio frequency next month.
In the face of allegations by Telecom Minister A Raja that the Defence Ministry was delaying auction for 3G spectrum, Finance Minister Pranab Mukherjee today exuded confidence of resolving the issue to start the process in 2009.
Other banks to go ahead with plans, private players to wait for spreads to narrow.
People from socially and economically-backward sections had a glimmer of hope in 2009 as the government went ahead with its policy of social inclusiveness.
The government on Thursday set a schedule to examine the problems ailing the insurance sector in the field of accident insurance. This comes close on the heels of the Supreme Court suggesting the government to create a special fund for compensating accident victims by charging a cess on sale of petrol or a one-time premium on sale of new motor vehicles.
Honda Siel Cars India (HSCI), the Indian subsidiary of the Japanese giant Honda Motor Co, today said that its sales will register double digit growth in the current financial year. The company expects its total sales to be around 60,000-65,000 units during the current year, up from 55,250 cars sold in 2008-09.
Manipal Acunova, the Bangalore-based Rs 80 crore clinical research firm, has raised Rs 30 crore from US-based OrbiMed, a global healthcare-dedicated investment firm, with approximately $5 billion in assets under management.
Tata Group Chairman Ratan Tata today said the stimulus packages provided to the economy to cushion the impact of the global economic downturn should not be withdrawn.
Palak Shah / Mumbai December 29, 2009, 0:02 IST
Financial services firm India Infoline today said it plans to begin mutual funds operations in the first quarter of the next fiscal, after securing final approval from capital market regulator Sebi.
Refusing to be drawn into the debate over when should stimulus packages be withdrawn, the Planning Commission today said India will not stand out in the world as an overspender despite the rise in the fiscal deficit because of the sops.
Martin Feldstein / January 2, 2010, 0:55 IST
No one can repair the BJP, former party ideologue K N Govindacharya tells Sreelatha Menon
Pakistan"s intelligence agency ISI was behind the attack on the Indian embassy in Kabul which killed 17 people and wounded more than 60 others, Afghan envoy to the US has claimed.
Andhra Bank has raised Rs 600 crore by selling bonds in two tranches in current month.
In order to give a boost to its almost stagnant ratings, STAR Plus, the number two Hindi entertainment channel, is betting big on Bollywood films. Within past few weeks, STAR India has picked up exclusive satellite rights for blockbusters, including Paa, Wanted, De Dana Dan, Aladin and Drona for Rs 50 crore, the highest among the leading broadcasters this year for exclusive content.
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:
Swaraj Baggonkar / Mumbai January 6, 2010, 0:14 IST
Sreelatha Menon / New Delhi November 15, 2009, 0:36 IST
Creditors of debt-ridden Japan Airlines (JAL) would incur loss of some $7.6 billion if the carrier enters a bankruptcy process, a report said today.
The Delhi-based franchise of audit firm PricewaterhouseCoopers today approached the Delhi High Court seeking quashing of proceedings initiated against it by the government in the aftermath of Satyam scam.
Sreelatha Menon / New Delhi November 1, 2009, 1:04 IST
Sreelatha Menon / New Delhi October 11, 2009, 0:10 IST
Sreelatha Menon / New Delhi November 29, 2009, 0:22 IST
Ending an almost two-year-long dispute over partnership with the Vijay-Mallya owned United Breweries Ltd (UBL), Heineken NV, the world"s third-largest brewery firm, today agreed to permit UBL to brew and market the Heineken brand in India.
Intermediate trend bullish, short-term trend neutral.
Mirroring the impact of the global meltdown across sectors, investments by venture capital (VC) companies in clean technology companies fell 13 per cent on year in 2009.
Coffee exports globally have fallen 7.8 per cent to 13.4 million bags (1 bag= 60 kg) in the first two months of the 2009-10 crop year, whereas those from India have risen over 20 per cent to 516,000 bags in the same period, the International Coffee Organisation (ICO) has said.The coffee year runs from October to September.
The government today approved six proposals for setting up of special economic zones (SEZs), including that of gems and jewellery SEZ by Delhi State Industrial and Infrastructure Development Corporation.
The Steel Authority of India Limited (SAIL) plans to raise the steel consumption in Himachal Pradesh so that it reaches the national average, top SAIL officials said on Monday. “There is a lot of scope of raising steel consumption in Himachal infrastructure projects. The current consumption is 16 kg per head and we want to raise this to atleast the national average of 46 kg per head,” said Steel Secretary, Atul Chaturvedi.
After hiking prices for the last two consecutive months, state-run Steel Authority of India (SAIL) has said it may not increase prices further in view of a downward trend in the international market, especially China.
JSW Steel is in talks with Japanese firm JJFE Holdings on equity sharing arrangement of JSW Bengal Steel, which is setting up a 10-million tonne steel plant in West Bengal.
State run Mahanagar Telephone Nigam (MTNL) has taken to the franchise route to sell its 3G services in Delhi and Mumbai and has floated a global Expression of Interest (EoI) for 3G Services Franchisee.
Three states, Andhra Pradesh, Rajasthan and West Bengal, don’t have governors. ND Tiwari resigned and vacated the Raj Bhavan in Hyderabad recently. Gopal Krishna Gandhi quit the Raj Bhavan in Kolkata and Jaipur is vacant after the death of former foreign secretary SK Singh. The result is that various people in the race are making rounds of politicians they think will give them a leg-up to the post. Finance Minister Pranab Mukherjee’s residence is obviously one pilgrimage centre. Watch this space for more on this front.
Agricultural growth in the third quarter (October-December) of the current financial year might be negative, Finance Minister Pranab Mukherjee said today.
The government is likely to clear tomorrow a proposal suggesting release of inflation data on monthly basis and not every week for bulk of the items tracked by the Wholesale Price Index (WPI).
The woes of the cement industry are likely to continue as prices are likely to weaken during the remaining period of the current fiscal on the back of highest ever capacity addition by the industry in a single year.
The Planning Commission today said it will soon set up a separate independent evaluation office (IEO) to assess the progress of the government"s flagship schemes in benefiting the poor.
After a gap of almost two months, inflation dipped marginally to 0.7 per cent, but there was no respite for people as prices of items of common consumption, like potato and vegetables, continued to rule high.
Planning Commission Deputy Chairman Montek Singh Ahluwalia today expressed confidence that in the years to come India could emerge as the fastest growing economy in the world, beating China as the nation has yet to achieve its full growth potential.
Diversified auto component maker RICO Auto is looking to achieve Rs 1,000 crore turnover this fiscal on the back of investment in new models and sales growth in both domestic and overseas market.
After the near-flat growth in the first two quarters quarters, the third-quarter earnings of the 30 Sensex companies are expected to increase by 20 per cent, indicate analysts from Angel Broking, IDFC-SSKI and Motilal Oswal.
A high-powered group of state finance ministers today indicated that the proposed Goods and Services Tax (GST), which will consolidate indirect taxes, may not be introduced as scheduled from April 1, 2010.
The West Bengal government today said it was in touch with the Tatas for return of the lease land at its abandoned Nano project site in Singur.
Controversy continues to dog Aamir Khan starrer "3 Idiots" with the Maharashtra government today deciding to examine its content after the film reportedly inspired a ragging incident in a Mumbai medical college.
With the economic slowdown hitting the exchequer hard, the Centre today proposed that the states accept half of the compensation on account of their losses due to cut in the Central Sales Tax (CST) for the current fiscal.
In takeout financing IIFCL will enter into a pact with banks to take over some of their infrastructure loans on its books.
Assistance will be used to for infra projects, recapitalsation of PSU banks
Eveready Industries India has recorded a profit after tax of Rs 16.05 crore for the quarter ended June 30, 2009, an increase of 415 per cent on the back of a four per cent gain in margins and excise duty benefit. Profit before tax increased 444 per cent to Rs 15.14 crore.Net sales increased six per cent to Rs 232.37 crore. Deepak Khaitan, executive vice chairman and managing director, Eveready said, the outlook for the next quarter was good. The company plans to reduce debt by Rs 50-60 crore this year through internal accruals and has also put up for sale its battery factory closed at Hyderabad.
Flight operations at IGI airport here today resumed after eight hours of delay due to dense fog and a cable fault in the sophisticated electronic landing system which aids take off and landing in foggy conditions.
The bank has been functioning with 3 directors.
State-owned Oil and Natural Gas Corp"s Rs 13,000 crore Dahej complex will be the anchor tenant at the proposed special area for chemical and petrochemicals industry in the Gujarat city that may attract a total of Rs 50,000 crore of investment.
Jeera future prices are likely to firm up in January as there is a possibility for renewed export demand in the market. The demand from overseas market is expected from first week of January 2010 and this may support the price to strengthen.
Minister for Environment and Forests Jairam Ramesh’s ambitious plan to redesign the institutions of environmental governance has come up against serious resistance from environmental experts who say the concept does not address fundamental problems. Most have given it the thumbs down.
A rise of about 70 per cent over 45 days in the Baltic Dry Index (BDI), the global benchmark for shipping freight rates of dry bulk carriers, has failed to cheer Indian companies, who see it as only a temporary surge.
Signs of a deepening recession in the US, Japan and Europe have prompted investors to pull money out of developed-market stocks.
Although the market is hopeful of a solution to the subsidy issue, crude oil prices and the quantum of oil bonds would decide the near-term fate of OMCs.
Global auto component maker Delphi today said it will showcase a number of its automotive technologies during next month"s Delhi Auto Expo including SD card-based navigation and generic body control module designs.
Pharma firm Lupin today said it will borrow up to Rs 500 crore from corporate bodies and various financial institutions.
A meeting of officials of the Orissa government, ArcelorMittal and Posco will be held this week to clear the hurdles delaying investment of around Rs one lakh crore in the state by the two global steel giants.
Environmental think tank Teri wants to commercialise its technologies. Here’s how.
Early next month, the Madras High Court will hear a unique case — a petition challenging the geographical indications (GI) protection given to the famous Tirupati laddu, produced by the Tirumala Tirupati Devasthanam (TTD).
The stock settled at Rs 1,438, up 2% from its previous close. The counter clocked volumes of 25,792 shares as compared to the two-week daily averegae traded volumes of 49,619 shares on the BSE.
ArcelorMittal today said it has not made any money from its excess carbon credits, bulk of which was purchases during the global economic crisis.
Auto maker Mahindra & Mahindra today reported a net profit of Rs 843.6 crore for the second quarter ended September 30, 2009, driven by good sales in both automotive and farm equipment sectors.