Life insurance penetration in India higher than global avg

The government today said that life insurance penetration in India was higher than the world average in 2010. "Life insurance penetration in India was higher than the world's average in 2010 and the combined average is higher than Brazil and Russia and...

21.03 | 0 komentar | Read More

Infosys plans to list ADS on NYSE Euronext

IT services firm Infosys Ltd , the first Indian company to list on Nasdaq, said on Friday it will shift its American Depositary Shares to the NYSE Euronext from Dec 12.Infosys , India's second-largest software services provider, also said it is seeking...

21.03 | 0 komentar | Read More

EGoM on Telecom deferred again

The Empowered Group of Ministers (EGoM) on Telecom, which was scheduled to meet today to work out the roadmap for spectrum that was unsold in the recent auction , has been deferred.The meeting was deferred following the death of former Prime Minister...

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MACL files police complaint against leasing airport to GMR

The Maldives Airports Company has filed a complaint with the police here over what it terms as "unlawful leasing" of Male International Airport to Indian infrastructure major GMR."The Maldives Airports Company Limited has submitted a complaint to the...

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Banks say no word from Kingfisher even as deadline ends

Lenders to Kingfisher Airlines said they are yet to hear from the grounded airline even as the deadline set by the bankers to bring in fresh equity of USD 1 billion ended today.However, a banker sounded optimistic about a meeting between the lenders'...

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GMR Infra exploring legal options against Maldives govt

GMR Infrastructure is exploring legal options against Maldives Government for terminating its USD 500-million airport development contract for running the Male airport."We are seeking legal opinion (against the termination notice) and we will formalise...

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Defence min looking into Mazgaon dock's decision on JVs

Defence Ministry is looking into Mumbai-based Mazagon Dock Limited's decision to enter into Joint Venture contracts with private parties to construct warships.The probe will look into the legal aspects and whether there is any violation of rules set...

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Swiss companies scout for opportunities in India

Swiss companies are keenly looking at business opportunities in India and other high-growth markets, amid sluggish economic conditions in Europe, a Swiss official said on Thursday. Switzerland is the eleventh biggest foreign investor in India, according...

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Govt may form inter-ministerial panel on sugar decontrol

In order to fasttrack decontrol of sugar sector, the government is mulling setting up an inter-ministerial panel to review recommendations of the Rangarajan Committee on sugar deregulation.The panel could be chaired by agriculture minister Sharad Pawar...

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No plan to set up manufacturing unit in India yet: JLR

Jaguar Land Rover is placing its bets on emerging markets like Russia, Brazil and India. But even as its parent Tata Motors announced a joint venture to invest upto 1.36 billion pounds in setting up a plant in China , India will take significantly longer...

21.03 | 0 komentar | Read More

Kenya keen to replicate Punjab transport department model

Punjab government's move to computerise and upgrade its transport department got a thumbs up from Kenya which has evinced interest to replicate it in its transport ministry.In a communique to Punjab transport secretary, Francis Meja, registrar of motor...

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Suzlon crosses 20,000-MW installed capacity

Wind-turbine maker Suzlon on Wednesday said that it has crossed the 20,000-mw of installed capacity operating across 32 countries."We have grown into the world's fifth-largest wind-turbine maker with a global fleet of over 20,500 MW operating across...

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India to showcase Aakash-2 tablet at UN

India will showcase the Aakash-2 tablet at the United Nations, amid clarification by the maker of the low-cost tablet over sourcing some parts from China.The tablet will be unveiled today in the presence of UN Secretary General Ban Ki-moon on the occasion...

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French Dassault opens Indian subsidiary for Rafale deal

After bagging the multi-billion dollar contract for supplying 126 Rafale fighter aircraft to IAF, French Dassault Systems has opened an Indian subsidiary company here.The company named Dassault Aircraft Services India Private Limited (DASIPL) was set...

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Coramandel shortlisted for USD 500 million project in Togo

Fertiliser major Coramandel International today said it has been shortlisted for mining and manufacturing of phosphoric acid project in West African city Togo that could entail an investment of USD 500 million.Coromandel, a part of Rs 22,000-crore Hyderabad-based...

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Impact of coal price pooling to be known after finalisation

The government said that the impact of price pooling of coal on electricity tariff can be determined only after the mechanism is finalised. Planning Commission had said to offset the impact of high import costs, Coal India (CIL) should adopt a pooling...

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Telcos using 2G waves post Feb 2 ruling may have to pay: SC

The Supreme Court today said Telecom operators, whose licences were cancelled by it but continued to operate due to delay on government's part to hold fresh auction of 2G spectrum, might have to pay for using the radiowaves on the basis of current price.A...

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OVL's $5-bn Kashagan stake buy pushes ONGC up 1.4%

ONGC Videsh (OVL), the overseas arm of state-owned Oil and Natural Gas Corp (ONGC ), will buy 8.4-percent stake from Concophillips in North Caspian production sharing agreement or Kashagan for USD 5 billion. The transaction subject to approvals...

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Govt lowers sugar output estimate to 23 MT for FY13

The government on Tuesday lowered the estimate of the country's total sugar output to 23 million tonnes (MT) in the current marketing year that will be just sufficient to meet the demand. At the beginning of the ongoing 2012-13 marketing year (October-September),...

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Hinduja picks Deutsche to weigh sale of Saudi venture

A unit of family-owned Indian conglomerate Hinduja Group has hired Deutsche Bank to evaluate the potential sale of its 49-percent stake in a Saudi Arabian lubricants venture that is valued at up to USD 700 million, three sources said.Jeddah-based Petromin...

21.03 | 0 komentar | Read More

Audi plans to start assembling of Q3 SUV in India

German luxury car maker Audi today said it is looking to start assembling SUV Q3 in India at its Aurangabad plant.    The car maker at present assembles sedan A4, A6 and SUV Q5, Q7 in India. It plans to have an installed capacity...

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Assocham asks for bailout for Kingfisher after AI decision

Industry body Assohcam today suggested a bailout for the grounded Kingfisher Airlines following the government's decision to rescue the ailing national carrier Air India , saying there is no difference in the financial woes of both the airlines.The suggestion...

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India outsourcing failure blamed for $2.3bn UBS trader loss

Key controls for "detection of suspicious trading activity" failed at an India outsourcing unit, contributing to USD 2.3-billion loss caused by a rogue trader of global banking giant UBS, a joint probe by British and Swiss regulators has found.    This...

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RINL may raise Rs 500 cr debt in FY'12

State-owned steel maker Rashtriya Ispat today said it may raise up to Rs 500 crore from domestic and overseas markets during the January-March quarter for meeting capital expenditure needs.   "We may raise something like Rs 500 crore in...

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Spectrum EGoM to meet on November 29: Sources

The Empowered Group of Ministers (EGoM) on telecom, headed by Finance Minister, P Chidambaram, will meet on November 29 in the backdrop of lukewarm response to the recently concluded 2G spectrum auction. According to sources close to the ministry, the...

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Some consolidation in banking space inevitable: Chidambaram

Stating some consolidation in the banking system was inevitable, Finance Minister P Chidambaram today said India must have two or three world size banks. "Finding new business models will inevitably lead to some consolidation. We should not fear consolidation....

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Italy PE fund, MM in race for Aston Martin: Source

Italian private equity fund Investindustrial and Indian car maker Mahindra have made competing bids for 50 percent of British luxury car maker Aston Martin with a deal expected over the weekend, a source close to the matter said on Friday.Investindustrial...

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NASSCOM felicitates 50 innovative, emerging companies

Software body NASSCOM is committed to recognising innovative start ups since 2009 and it felicitates the top 50 emerging companies every year with NASSCOM Emerge 50 Awards. Its objective is to recognise, mentor and guide these emerging companies.National...

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FM asks RBI to start issuing new bank licences

Finance Minister P Chidambaram today made it clear to RBI that it has the powers to issue new bank licences and expressed the hope it will take the process forward "appreciating" government's position."Let me emphasise that the three powers that RBI...

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Re-feel recycles cartridge refills for greener tomorrow

Every year more than 350 million plastic printer cartridges are dumped in land fields worldwide and that is enough waste to cover football fields 17 times over. To make matters worse cartridges are made mostly of plastic and can take more than a thousand...

21.03 | 0 komentar | Read More

Some consolidation in banking space inevitable: Chidambaram

Stating some consolidation in the banking system was inevitable, Finance Minister P Chidambaram today said India must have two or three world size banks. "Finding new business models will inevitably lead to some consolidation. We should not fear consolidation....

21.03 | 0 komentar | Read More

Italy PE fund, MM in race for Aston Martin: Source

Italian private equity fund Investindustrial and Indian car maker Mahindra have made competing bids for 50 percent of British luxury car maker Aston Martin with a deal expected over the weekend, a source close to the matter said on Friday.Investindustrial...

21.03 | 0 komentar | Read More

NASSCOM felicitates 50 innovative, emerging companies

Software body NASSCOM is committed to recognising innovative start ups since 2009 and it felicitates the top 50 emerging companies every year with NASSCOM Emerge 50 Awards. Its objective is to recognise, mentor and guide these emerging companies.National...

21.03 | 0 komentar | Read More

FM asks RBI to start issuing new bank licences

Finance Minister P Chidambaram today made it clear to RBI that it has the powers to issue new bank licences and expressed the hope it will take the process forward "appreciating" government's position."Let me emphasise that the three powers that RBI...

21.03 | 0 komentar | Read More

Re-feel recycles cartridge refills for greener tomorrow

Every year more than 350 million plastic printer cartridges are dumped in land fields worldwide and that is enough waste to cover football fields 17 times over. To make matters worse cartridges are made mostly of plastic and can take more than a thousand...

21.03 | 0 komentar | Read More

See demand push for ethanol producing machineries: Praj Ind

The government is trying to extend ethanol blending with petrol in all states in the country. At present, only 13 states have been brought under this ambit. The decision is likely to imprve demand of ethanol, a by-product of sugar factories . The oil...

21.03 | 0 komentar | Read More

Govt funding can prevent United Bank from more dilution: MD

The board of United Bank of India on Thursday gave approval to raise Rs 300 crore through a rights issue. It will allot Rs 10 shares each at a premium to be decided subsequently on rights basis to the existing shareholders of the bank as on the record...

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Tata Steel to cut 900 jobs in Britain

Tata Steel said on Friday it would cut 900 jobs across the UK as part of a restructuring plan aimed at improving its performance in "changing markets".The group said 580 jobs would go in south Wales with the rest being cut in England as part of proposals...

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Refund Rs 400cr fine collected from telecom cos: SC to govt

The Supreme Court on Friday directed the government of India to refund Rs 400 crore that was collected from telecom companies as penalty after they failed to meet the rollout obligations.The companies included Unitech, Aircel, Dishnet, Systema and Videocon....

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Sakthi sees 1% annual rise in ethanol blending for 5 yrs

In an interview to CNBC-TV18, M Manickam, MD of Sakthi Sugars , discussed the implication of the mandatory 5 percent ethanol blending. According to him. sugar prices will depend on cane price moment."I don't think we will be able to sell alcohol...

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17 PSUs committed to invest over Rs 1.63 lakh cr in FY'13

The government today said 17 central public sector enterprises, including, ONGC , OIL and NTPC , have committed to investing over Rs 1.63 lakh crore during the current financial year."The total capital available with Central Public Sector Enterprises...

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Cancel 3 coal mines; impose BG in case of MMTC, Nalco: IMG

The Inter-Ministerial Group has recommended deallocation of three coal mines, and deduction and imposition of Bank Guarantee of PSU firms including MMTC and Nalco ."The Inter-Ministerial Group (IMG) has recommended deallocation of three coal mines --...

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BSNL targets Rs 1,600 cr revenue from tower biz in 5 yrs

State-run BSNL has set a target to garner Rs 1,600 crore in revenue in next five years from its telecom tower business, which its plans to hive off into a separate company.In a recent performance review meeting of the Public Sector firm conducted by...

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Govt plans to give powers to CCI chief for search, seizure

The government today said it plans to grant direct powers to the Competition Commission chairperson to authorise search and seizure related to investigations.Fair trade regulator Competition Commission of India (CCI) keeps a tab on anti-competitive practices...

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Future Lifestyle to be Rs 4K-cr entity in 1st year: Biyani

Retail chain giant Future Group, which recently demerged its fashion business under a new  brand, is expecting around Rs 4,000 crore from this business in the first year of operations."We are expecting nearly Rs 4,000 crore from our fashion business...

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DLF falls 2.4% after court dismisses plea against Sebi

Shares in DLF  fell 2.4 percent, slightly extending losses after CNBC-TV18 reported the Delhi High Court has dismissed the property company's challenge against a probe being undertaken by markets regulator SEBI.The TV station cited legal sources...

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Early clearances will make coal auction successful: NTPC

State-run NTPC today said the proposed coal block auction next year by CIL would be more successful if the the government secures all the requisite clearances before inviting bids."Environment clearances, land acquisition should be done beforehand, otherwise...

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Ssangyong sees better financial performance in next 2 yrs

Auto major Mahindra and Mahindra 's Korean subsidiary SsangYong today said it expects to improve financial performance in the next two years.    "SsangYong is doing better compared to what we have expected. We are happy with the acquisition...

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