Business Ideas
The Supreme Court has set aside the Allahabad High Court"s order that stayed construction of houses by the Ghaziabad Development Authority for economically weaker sections in Uttar Pradesh.
The Sensex has opened weak this morning following subdued cues from its Asian peers. The Sensex opened at 16,827 and is now down 114 points at 16,744.
Is the Doha Development Round (DDR) dead, as the anti-globalisation activists claim? Not yet, said trade ministers of the 153 member-countries of the Word Trade Organisation at the seventh Ministerial Conference at Geneva last week. They ended the Conference with a general agreement to recommence the stalled negotiations of the DDR and take it to conclusion by the end of next year. Even such broad agreement was in sharp contrast to the acrimony and bitterness that characterised the earlier failed trade talks at Cancun and Hong Kong.
Sobha Developers, the Bangalore-based publicly held real estate developer, is positioning itself on the springboard as it envisages launching projects worth Rs 2,800 crore over the next 12-18 months covering 8 million square feet. This statement is perhaps is one of the most encouraging one to come from one of the established developers as the real estate market is looking to come out of the woods of global recession.
As energy costs rise ahead of inflation, awareness of potential impact of climate changes increases among organisation’s stakeholders. By 2014, strategies of at least two-thirds of organisations will exploit or risk-mitigate environmental sustainability, according to Gartner Inc, an information technology research and advisory company.
All the base metals on the London Metal Exchange continue to rise higher and higher, aided principally by the growing investor support, improving global economic sentiment and inflation in smelter operational costs. At this point, with investors deciding to pin their faith on positives like good showing by China and India; and Euro zone breaking out of recession and not to be bothered by still wobbling US economy, copper is bid at $7,454 a tonne and aluminium at $2,293 a tonne, for ready delivery.
Business Standard / New Delhi November 12, 2009, 0:04 IST
Business Standard / New Delhi January 14, 2010, 0:49 IST
The Centre may give sops to drug exporters for shipments to Africa and Latin America through a route that would avoid passing through Europe, while it prepares to drag the European Union (EU) to the World Trade Organization (WTO) over seizure of consignments of Indian pharma companies.
Oil prices rose above $80 a barrel today in Asia as crude investors eyed a surge in global stock markets.
India and the US have agreed to strengthen bilateral economic co-operation through new initiatives like setting up a Framework for Cooperation on Trade and Investment and launching a Financial and Economic Partnership.
Prime Minister Manmohan Singh today said India is open to discussions on a free trade pact with the US on the lines of the agreement New Delhi already has with the 10-nation South East Asian bloc.
Stressing on the need for innovative policymaking, Planning Commission Deputy Chairman Montek Singh Ahluwalia today said evidence-based analysis of policies and their formulation are necessary to achieve robust economic growth.
For a sign of how the mood has changed at the World Economic Forum in Davos this week, consider the speakers at an invitation-only client lunch hosted by Paul Calello, who runs Credit Suisse Group AG’s investment bank.
Higher margins and increased sales across regions helped Mumbai-based drug maker Lupin Ltd register 38 per cent growth in its consolidated net profit for the quarter ended December, to Rs 160.6 crore against Rs 116.5 crore in the corresponding quarter of the previous year.
Apollo Tyres, India’s second largest tyre manufacturer by tonnage, posted an 18-fold increase in net profit at Rs 102 crore for the quarter ended December 31, as compared to Rs 5.5 crore in the same quarter a year earlier.
Auto maker VE Commercial Vehicles today reported 65.11 per cent growth in its total sales of Eicher trucks and buses in October at 2,257 units.
Hinduja Group-promoted Ashok Leyland today said it will hike prices of its commercial vehicles shortly due to rising input costs.
The economic and financial status of emerging market economies like India will continue to improve in the days to come and the recent downturn will help accelerate the trend, says a report.
The government"s disinvestment programme made a muted re-start with the Cabinet Committee on Economic Affairs (CCEA) approving the part-sale of its stake in two power companies — NTPC and Satluj Jal Vidyut Nigam (SJVNL) — but postponing a decision on the overall disinvestment policy.
BMW and Mazda lead the way in cutting auto emissions, well ahead of their rivals in the hunt for cleaner cars as new European Union targets begin to bear green fruit, a report showed today.
American car major Ford today said it will increase vehicle production in India by over 30 per cent from this month to meet increased demand in the upcoming festival season.
Yahoo! Inc, owner of the No 2 search engine in the US, was targeted by a Chinese attack similar to the one that affected Google Inc, according to a person familiar with the matter.
The Cabinet Committee on prices will meet on Tuesday and is likely to consider various options to curb rising inflation and keep essential commodities from spiralling further.
Two-wheeler maker Honda Motorcycle & Scooter India today said it is expecting its sales to grow by 18 per cent during the current fiscal on the back of several launches.
Sales of two-wheelers in the month of July grew by 20.1 per cent over the same month last year, at 719,668 units, the highest growth till date in 2009–10. This strong growth comes on the back of Hero Honda, which has around 60 per cent of the market share, Yamaha, and Suzuki posting double-digit growth for the month.
The Orissa government is mulling to implement a mass housing scheme for providing houses at affordable prices to the economically weaker, lower and middle income group. The project will be implemented in public-private partnership (PPP) mode.
Music ripped off CDs or downloaded illegally, that can be found on digital music players, laptops and phones, robs the Indian music industry of over Rs 1,000 crore annually, according to market estimates. T-Series, the Indian music company which has rights to more than 200,000 songs, 30,000 music videos and movies, wants to change that. It has moved in with legitimate digital music on pen-drives and MicroSD cards, ideal for the preferred media devices, in the hope it will down one more deterrent to consuming media legally. The soundtrack of Blue is the first from its stables to be thus released, followed by All the Best and London Dreams.
India-specific hatchbacks took centrestage at the 10th AUTO EXPO, currently on in New Delhi. But BIJOY KUMAR Y took a detour and was seduced
Government today informed Rajya Sabha that it has issued a show cause notice to "Colors" television channel for telecasting obscene visuals in the ongoing reality show "Big Boss 3".
The government is in the final stages of setting up an Empowered Nodal Group which could act as a single point authority for disbursement of news in the event of major crisis like Mumbai terror attack.
- T N Ninan: Failing capitalism">T N Ninan: Failing capitalism - BJP, JD(S) win two seats each in bypolls - IT/ITeS firms operating income grows 15% - Non-basmati export ban hits organic farmers in Kerala - IDBI Bank yet to begin Rs 13,000 cr syndication for RPower - BHEL Trichy eyes Rs 10,000 cr turnover
The Supreme Court has issued notice to Sony Entertainment Television Satellite (Singapore) Pvt Ltd on a petition seeking to tax profits of the Indian operations of the foreign entity through a dependent agent (SET India Pvt Ltd).
The United Nations plans to reduce about 40 per cent of its staff in Pakistan by realigning their deployment due to growing security concerns in the wake of a wave of terrorist attacks across the country.
Linking the Kashmir problem with the Middle East conflict, President Asif Ali Zardari has asked the US to demonstrate "neutrality" and step up efforts to "mediate" on the issue between India and Pakistan.
The government and exporters are working together to tackle the imposition of non-tariff barriers (NTB) by developed and developing countries, including the 10-member Association of Southeast Asian Nations (Asean).
Consumers now have a wide variety of choices available in the market for a state-of-the-art digital camera that’s compact in size. Practically every brand is competing on megapixels and in looks too in this segment. Here is our pick of the best compact digital cameras for young adults, parents with young children and compulsive picture takers. Don’t be fooled by their diminutive looks - these babies have enough megapixels to portray in detail your picture-perfect moments.
Electronics major LG India plans to invest Rs 500 crore on research and development activities as well as advertising home appliances this year.
Kishore Singh / New Delhi November 10, 2009, 0:00 IST
General Motors, which has been in talks with its Chinese partners SAIC and Wuling for bringing their products to India, is likely to finalise plans on the type of vehicles and manufacturing road map soon.
General Motors Co, seeking to shed brands after emerging from bankruptcy, is nearing an agreement to sell its Hummer sport-utility vehicle business to China’s Sichuan Tengzhong Heavy Industrial Machinery Co for about $150 million, said three people familiar with the deal.
Global rating agency Moody"s today said large stimulus package provided by the government to perk up the economy and the consequent recovery has set the stage for it to roll back the measures.
Car maker General Motors India today said it has offered a new scheme under which customers can exchange their Opel cars for Chevrolet brands.
Subir Roy / New Delhi November 27, 2009, 0:31 IST
Fears of an imminent price rise, production spillovers owing to spare parts shortages plus a low base effect saw sales of the country"s major car makers grow a record 63 per cent in November.
A probe panel looking into the crane mishap at a Delhi Metro site during debris clearance today held Gammon India, the contractor, responsible, saying “mismanagement and lack of professionalism” from its part resulted in the incident, a claim rejected by the firm.
Last week’s tragic accident at the construction site of Delhi Metro Rail Corporation (DMRC) has raised questions about the role of its contractor, Gammon India, in the mishap. The movement in Gammon’s share price reflects the market’s concern, given that it has underperformed the broader markets since the accident. While the share price took a severe beating as it plunged nearly 20 per cent intra-day on last Monday (July 13) after the accident (which occured on July 12), it later recovered during the day. However, through the week, the stock was down 7.5 per cent as against the 9.2 per cent rise in the BSE Sensex and 5-8 per cent rise in the share price of other construction companies.
Delhi Metro Rail Corporation (DMRC) Managing Director E Sreedharan today decided that all cantilever structures built by Delhi Metro in Phase-II of the project so far would be re-checked from safety and quality point of view by independent experts. A firm has already been appointed for this purpose.
Tata Capital, the non-banking finance arm of Tata Group, today said it expects revival of demand in auto, housing and personal loans from the third quarter and plans to raise Rs 2,100 crore through bond issue by the end of next fiscal.
With an expected rise in the key lending rates the government should continue with the stimulus measures to support exporters, an industry body said today.
A month after the Securities and Exchange Board of India (Sebi) announced guidelines for SME exchanges, the National Stock Exchange (NSE) has sought feedback from market participants. It recently met merchant bankers and brokers to discuss the broad guidelines announced by Sebi.
The Ashok Leyland (AL)-Nissan joint venture is likely to roll out light commercial vehicles (LCVs) by 2011, a company source said today.
Business Standard / New Delhi September 22, 2009, 0:51 IST
Drug maker Glenmark Pharmaceuticals today reported 31 per cent drop in its consolidated net profit at Rs 80.88 crore for the second quarter ended September 2009.
Having secured the much-needed funds for Jaguar Land Rover (JLR) without the UK government help, its Indian parent, Tatas, are now tightening their management control on the car maker, but are unhappy over the way their request for help was handled by the UK authorities, a report said today.
Having secured the much-needed funds for Jaguar Land Rover (JLR) without the government help, its Indian parent Tatas are now tightening their management control on the carmaker, but are unhappy over the way their request for help was handled by the UK authorities, a report said today.
A team of two researchers — an ayurvedic physician and a retired senior scientist of the Central Food Technological Research Institute — have discovered some beneficial properties of cow urine after about 18 months of research in a private analytical laboratory in Mysore. Meanwhile, a homeopathy practitioner, has claimed that it could help cure the influence caused by H1N1 virus too.
On the second day of placements at the Indian Institutes of Technology (IITs), IIT Kharagpur saw IT biggies like Yahoo, Microsoft, and Adobe flock its campus, apart from companies like Amazon, JLLM, 3M and FICO.
Investment banking companies are back on the campuses of Indian Institutes of Technology (IITs), offering plum jobs to engineering graduates. IITs, which will begin placements tomorrow, expect this year to be a better one as compared to last year.
Hyderabad-based Aurobindo Pharma Limited received approval from Swissmedic, an agency of Switzerland government for therapeutic products, for the licence of Cefepime APL for injection 1g and 2g.
Speciality Restaurants Private Ltd, which runs restaurant chains like Mainland China, Sigree, Oh! Calcutta, Machan and Flame and Grill, is planning to dilute its equity by up to 30 per cent to raise money for its expansion plans, besides planning an initial public offer (IPO).
Cash is the preferred mode of payment for over 95 per cent of retail transactions in the domestic bullion market, a market survey said.
To help reduce capital expenditure up to 50%
Customs duty cut from 7.5% to 2.5%.
Tie-ups with international retailers and brands, emphasis on profitable growth and increased focus on private labels are set to be key trends in the Indian retail sector in 2010, say retailers and consultants Business Standard spoke to.
Low demand due to high prices will make a dent in India"s gold imports this month which will be down to 10-15 tonnes, experts have said.
Mumbai, Nov 28 (PTI) The bullion market bounced back today from its overnight sell-off regaining its lost ground on fresh buying by stockists and traders at current attractive levels.
The country"s largest software exporter Tata Consultancy Services (TCS) today announced that trainees joining it this fiscal would not be eligible for variable pay of about Rs 5,000 a month in the first six months.
India"s overall imports of vegetable oil during November 2008 to May 2009 jumped by 70 per cent to 5,043,185 tonnes from 2,973,393 tonnes for the same period of last year, the Solvent Extractors" Association of India (SEA) said in a statement here.
Making a strong case for safeguard duty on vital steel imports, the Safeguards Directorate has maintained that cheap inflows from China and other countries is hurting the domestic industry.
Helios Capital Management Pte, the hedge-fund manager once backed by Tudor Investment Corp, plans to start a “Slumdog Millionaire” fund that will buy underperforming shares of Indian companies.
The ‘Jai Ho’ trust by the ‘Slumdog Millionaire’ filmmakers has hired a social worker to ensure the welfare of Rubina Ali Qureshi after her father allegedly tried to sell her for nearly USD 300,000.
"Slumdog Millionaire" the Mumbai based potboiler about a street urchin"s struggle to find true love has become UK"s most successful movie of 2009.
An all-party meeting chaired by Home Minister P Chidambaram to devise a mechanism and a road map to resolve the vexed Telangana issue began here today with TRS chief K Chandrasekhar Rao, spearheading the movement for a separate state, and Chief Minister K Rosaiah attending it.
The 2009 KPMG-Ficci report on the Indian media and entertainment industry points out that the music industry has declined from Rs 830 crore in 2005 to Rs 730 crore in 2008. Revenue from the sale of compact discs (CDs) and cassettes that accounted for 87 per cent of the total turnover of the industry has dropped to 60 per cent. Piracy and the increasing trend of loading portable storage devices with unauthorised and unlicensed music have eroded the profitability of music companies. Against this backdrop, Bhushan Kumar, chairman and managing director of the Rs 350-crore Super Cassettes Industries, the country’s leading music company that owns the T-Series label, is gunning for platform-owners (television and radio channels, among others) who are making unauthorised use of his music. Kumar, 31, spoke to Shuchi Bansal on the challenges facing the industry and his company’s initiatives to keep its head above water. Excerpts:
Information Technology major IBM today launched a new infrastructure service model targeting Small and Medium Businesses (SMB) in Tier-II and Tier-III cities.
Gold and silver sparkled and logged an all-time peak in Mumbai"s Zaveri Bazar on Wednesday on heavy stockists buying and firm global guidance.
The Centre today said state governments had been asked to prepare the local-level adaptation action plans on climate change, consistent with the objectives of the National Action Plan on Climate Change (NAPCC). Necessary assistance is also being provided to the state governments (to tackle climate change) subject to availability of funds, Environment and Forests Minister Jairam Ramesh said in reply to a written question in the Lok Sabha.He said a study on “the impact of climate change in India” had been launched under a joint Indo-UK Research Programme.
India"s largest asset reconstruction company Arcil today said it is 30 per cent short of its target of buying bad debts worth Rs 1,800 crore from banks and financial institutions so far this fiscal.
Business Standard / New Delhi December 17, 2009, 0:58 IST
India Inc has started recognising the risks associated with climate change, with the software and services sector taking the lead in monitoring their emissions and formulating plans for reducing carbon footprint, according to a survey released today.
Amid fears by Maldives that one of its island resorts could be taken over by terrorists in the absence of military assets, India will sign a defence pact with that country during Defence Minister A K Antony"s three-day visit there.
Advice: Earn juniors’ respect, so that your looks cease to matter so much
Information technology major IBM has signed a 10-year strategic outsourcing agreement with cable and broadband distribution player Digicable, for an initial outlay of Rs 380 crore.
Honda Motor Co’s withdrawal from Formula One racing in December to save money may give it an advantage over rivals: fresh blood from an elite cadre of engineers to improve its Civic compacts and Odyssey minivans.
Jet Airways Chairman Naresh Goyal said the strategic alliance forged almost a year ago between his company and Kingfisher Airlines has still not achieved tangible progress.
The world"s largest steel maker ArcelorMittal may cut 10,000 jobs globally next year and plans to reduce costs in order to regain its lost market share particularly in Europe, a media report says.
The Sensex opened marginally in red this moning but rebounded almost immediately on positive global cues.
Steel magnate Lakshmi Mittal has pulled out of a project to develop an oil field in Kazakhstan in partnership with Oil and Natural Gas Corp (ONGC) and is looking for buyers for its stake in another company in the Central Asian nation.
Sensex ends up 35pts
China to remain the largest market, say analysts.
Gold prices today hit an all-time high of Rs 16,980 per 10 gram in the bullion market here in tandem with the global market, where the metal crossed the crucial $1,115 an ounce level.
The Centre today constituted a committee of industry ministers of seven states to prepare guidelines for creating land banks for meeting industrial needs.
Sugar mills are in a fix since the Union government has not disbursed the entire interest amount due to the banks under the Rs 4,000-crore interest-free loans granted in December 2007. Of the estimated Rs 1,000 crore interest liability (for the last two years), the government has only disbursed Rs 300 crore to banks a couple of weeks ago.
Major Russian aircraft manufacturer famous for its fighters, Sukhoi has been listed amongst the most rapidly growing companies of Russia by the Economic News Agency rating.
Gold breached the psychological Rs 17,000-per-ten-gram mark for all the running contracts in futures trading at the Multi Commodity Exchange on a firming trend in the global markets where it crossed $1,140 an ounce.
Shipments in first 8 months of the calendar year dip 54.55%.
The US markets had an unspectacular day of trade. Dow Jones closed at 10,426.30, lower by 11.11 points or 0.11%, Nasdaq ended at 2193.14, weaker by 10.64 points or 0.48%, and S&P shut at 1109.8, down 0.52 points or 0.05%.
Garments maker Provogue India today said it will buy back shares worth Rs 50 crore from its shareholders through open market route.
Four companies including IFCI Venture, Capital 18 have submitted their proposals to become the strategic investor of state-owned Punjab Infotech Venture Fund (PIVF).
IIM-Ahmedabad has around 75 tie-ups while IIM-Calcutta has around 50 partnerships with B-schools abroad
Chandan Kishore Kant & Sidhartha / Mumbai December 11, 2009, 0:47 IST
Luxury hotel chain operator Orient Express, in which Indian conglomerate Tata Group holds a significant stake, has reported a net loss of $24.3 million for the second quarter ended June 30, 2009.
Shopping online for a New Year gift? Or clicking on that New Year e-greeting link? Be careful this time around as cyber criminals armed with a new set of web threats, including viruses, spam and cyber-scams, would be on the prowl to trap gullible internet users.
Sun Mulitipurpose Cooperative limited (SMCL), a cooperative body consisting of the families of the land losers has welcomed the recent move of the Mahanadi Coalfields Limited (MCL) to allow the linked consumers to lift coal on the their own through hywas and tippers.
Siemens, the German engineering giant, says it plans to expand its green energy portfolio to enable ¤25 billion (approximately Rs 1,74,339 crore) savings globally by 2011, with significant carbon dioxide (CO2) reduction from its products and processes in key markets, including India.
Intel Corp agreed to pay Advanced Micro Devices Inc $1.25 billion as part of a legal settlement that ends a four-year dispute between the world’s two largest computer-processor makers. AMD stock rose as much as 27 per cent.
Indian stocks trading on American bourses gained about $11 billion in one month, with IT bellwether Infosys and private sector lender HDFC Bank accounting almost half of the gains. For the month ended September 30, Indian entities listed on the New York Stock Exchange and Nasdaq added $10.61 billion to their market-cap, with Infosys and HDFC Bank together contributing $5.82 billion.
The Left Front chairman, Biman Bose, has proposed today that the Railway Minister Mamata Banerjee should convene an all-party meeting to evolve consensus on the issue of refraining from the practice of blocking roads and railway tracks for agitations. Yesterday, while submitting the demand for additional budgetary allocations for her ministry in the Lok Sabha, Mamata Banerjee had appealed to the CPI(M) members to desist from damaging the Railway properties in the name of pursuing their agitations.
The railway ministry is contemplating new policies for land acquisition, including job offers, for the displaced landowners, Railway Minister and Trinamool Congress chief Mamata Banerjee said in the Lok Sabha.
To allow pvt companies to compete with DRDO, PSUs to bid for equipment tenders.
Indian-American Anil Kumar, an accused in one of the the largest insider trading scam in the US, has agreed to waive indictment in the Galleon Hedge Fund case, in an indication that he might plead guilty as per a deal struck between him and the prosecutors.
Prime Minister Manmohan Singh would kick-off his five-day visit to the United States with an address to the influential American business community, which had a key role in the passage of the historic Indo-US civilian nuclear deal. The American business community has termed the Prime Minister"s decision to start the trip by addressing the top leadership of the US business as a "momentous occasion".
An upset Aamir Khan has spoken out against author Chetan Bhagat, on whose novel the star"s latest blockbuster "3 Idiots" is based, accusing him of trying to take away the credit from the film"s scriptwriter.
Business Standard / New Delhi December 22, 2009, 0:30 IST
Largest insurer’s sales rise 20%.
Insurance companies have asked the government to shift to the new tax regime under the Direct Tax Code only for those policies sold after the proposed Code came into effect from April 2011.
Baroda Legal & General Life Insurance, an insurance venture promoted by Bank of Baroda, today said it is expecting IRDA clearnace by November-end.
Softdrinks major PepsiCo is scaling up the distribution of "Nimbooz" by entering the South and East Indian markets by the end of this month, making the product available across the country.
Casual dining chain Pizza Hut today announced that it has roped in Bollywood star Lara Dutta to promote its newly-launched "Cheesy Bites" range.
Business Standard / New Delhi December 06, 2009, 0:44 IST
After acquiring United Western Bank three years ago, IDBI Bank is at it once again and has identified two domestic lenders as possible targets.
UK motor insurers, including Aviva Plc, Admiral Group Plc and Fortis Insurance Ltd, thought they had found a way to squeeze out extra revenue when their customers get into car crashes.
Japan"s economy grew an annualised real 1.3 per cent in the July-September quarter, much slower than an initially reported 4.8 per cent expansion, the government said today.
Finance Minister Pranab Mukherjee may meet state finance ministers next week to discuss their requirements and implementation of proposed Goods and Services Tax (GST), speculated to be delayed by over six months, is likely to be discussed during the meeting.
Slumped to $60-65 a tonne from the recent peak of $112-115 a tonne in August.
Shaken by a sudden halt in demand from China, Indian iron ore miners are planning production cuts.
Demand removal of ambiguity in the formula before its implementation.
The eight team owners of the Indian Premier League (IPL) are all set to lock horns with the Board of Control for Cricket in India (BCCI) by refusing to pay their next instalment of the franchisee fee which is due in January 2009.
SREI Sahaj e-Village Limited, a subsidiary of the Kolkata-based Srei Infrastructure Finance Limited, targets to place 50,000 youth trained through the company"s various skill development programmes, by March 31, 2010.
Police notice to Baldotas stayed.
‘Clear the proposal for laying of optical fibre network before Dec 7’.
The ambiguity over availability of 3G (third generation) telecom spectrum would end soon, as the ministry of defence has agreed to release 25 MHz of 3G spectrum before December 8, paving the way for auctioning of all the four slots in every circle simultaneously. But, the successful bidders in the auction would be able to utilise the spectrum only after June 2010, despite the auction process happening on schedule in January.
The Telangana agitation has forced several companies including Bharat Forge, Lakshmi Mittal Group and NTPC-BHEL join venture to either put their expansion plans on hold or explore other states.Addressing the media here on Tuesday after a meeting with industry representatives, chief minister K Rosaiah said Bharat Forge, which planned to set up a nuclear power plant equipment unit at Nellore at an estimated cost of Rs 2,500 crore, was considering Gujarat.
Indian private sector lender Kotak Mahindra Bank is looking at acquisitions in the coming months in India, says a media report.
Government will support public sector banks to merge if they wanted, provided they fulfilled RBI and SEBI guidelines, Finance Minister Pranab Mukherjee said today.
Authorities investigating a disproportionate assets case against former Jharkhand chief minister Madhu Koda will start questioning top officials of the Union Bank of India tomorrow regarding funds deposited in the bank’s Zaveri Bazaar branch here.
Mukesh Ambani-run Reliance Industries (RIL) today said it will expand its Jamnagar petrochemical complex by adding 2 million tonnes (MT) per year of olefins and matching downstream capacities.
Sanjay Dalmia-owned Gujarat Heavy Chemicals (GHCL), a major producer of soda ash, has postponed its board meeting scheduled for today.
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.
Leslie D"Monte & Kirtika Suneja / New Delhi December 5, 2009, 0:15 IST
USL Wines, a division of United Spirits, part of the United Breweries (UB) group, is set to start exporting its brands.
UK banks: Nine months is a long time in UK banking. When Royal Bank of Scotland and Lloyds Banking Group signed up for state insurance on a combined £585 billion of their suspect loans in February, each was assumed to be a basket case. Now the full details of the insurance scheme and enforced state aid disposals are public, it"s clear that RBS is in the worse shape. Both banks are trying to wriggle out of the state’s embrace, but RBS hasn’t got very far. Lloyds, in contrast, is well on the way to independence.
Jharkhand chief minister Shibu Soren has assured Bokaro Steel Plant (BSP) managing director V K Srivastava that SAIL’s needs would be met by Chiria mines.
The two security guards with bamboo sticks look on sheepishly as guests make their way through metal detectors and X-ray scanners at the Taj Mahal Hotel in Mumbai. Before entering the hotel, however, a rather stern looking man — presumably part of the hotel’s elite security force — was asking them the purpose of their visit.
Financial services entity Religare Enterprises expects to close its first Rs 600-crore private equity fund, launched in joint venture with UK-based Milestone Capital, by April next year.