Business Ideas
Swiss banking major Credit Suisse has said Neil Harvey will run its asset management business in Asia Pacific and emerging markets from February.
External Affairs Minister S M Krishna today said the government would go by the home ministry’s guidelines on the new visa rules and said differences over such issues should not be discussed in public.
The Institute of Management Technology (IMT) plans to open its third campus in Ghaziabad by the end of this year to cater to the needs of working professionals by offering them distance learning modules.
Doha Bank is planning to expand its operations in India by entering into new segments. The Qatar-based bank had in 2007 acquired a 49 per cent stake in Kochi-based brokerage firm Select Securities.
The market as expected drifted lower after giving a downward breakout. It may test further lows before bouncing back.
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.
Tata Steel, India largest private steel producing company reported a higher than market estimate net profit at Rs 1,191 crore, a growth of 155 per cent for the quarter ended December 31, 2009 as compared to a profit of Rs 466 crore posted during the same quarter a year earlier.
The race to succeed Kenneth Lewis as the Bank of America Corp chief executive has narrowed to two internal candidates, though the board is still looking for a new face for the nation"s largest bank by assets, says a media report.
Describing the food inflation a "temporary phenomenon", the Planning Commission has said that the prices of various food items will decline towards the month-end and that the economic growth during the year would exceed 7 per cent.
Business Standard / New Delhi January 15, 2010, 0:55 IST
Movement on this seems stuck and linked initiative to defreeze progress needed, say analysts.
Ahead of the WTO Ministerial Meeting in Geneva next week, India today said protectionism by some countries need to be opposed and delay in reaching a global trade-opening deal will harm developing countries.
On the eve of the first anniversary of the terror attacks in Mumbai, British Prime Minister Gordon Brown today lauded the response of Indian government and the people to the strikes, saying they were "neither cowed nor provoked but stood resolute".
India and the US have signed an MoU on counter-terrorism and five other agreements as they agreed to chart their ties as "one of the defining relations" in the 21st century in which New Delhi will have a leadership role in the region and the world.
It was a taste of India at President Barack Obama"s First State Dinner, where he welcomed Prime Minister Manmohan Singh in Hindi and treated him to a range of vegetarian delicacies, including dishes prepared with herbs from the White House kitchen garden.
Gold was little changed, trading near a six-month high in New York as the dollar weakened, boosting the appeal of the metal as an alternative asset. Silver declined from a 13-month high. Gold futures, after reaching $999.50, the highest price since February 23, posted the biggest weekly gain since April.
A lower tax burden helped Glenmark Pharmaceuticals Ltd record a 15.5 per cent rise in its consolidated net profit for the quarter ended December 31, 2009. The net profit rose to Rs 94.1 crore in the reporting period from Rs 81.4 crore registered during the corresponding three months of the previous financial year.
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.
News reports in business dailies, including this one, tell us almost every day that India and Asia continue to grow at a robust rate. While developed nations are still suffering from the effects of the recession, India and most of Asia are clocking impressive growth rates.
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.
India"s exports grew over 18 per cent to touch $13.2 billion in November, reversing the downtrend seen in the past 13 months in a row due to shrinking in demand in major western markets.
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.
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.
After receiving Stage –II clearance from the Ministry of Environment and Forest (MoEF) for its 12 million tonne steel plant in Orissa, Posco-India has initiated various activities including infrastructure development to expedite the project work.
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.
Indian engineering and management institutes, which have set up bases in Dubai, are facing a 13-60 per cent dip in admissions due to the economic crisis in the city, which is one of the seven emirates of the United Arab Emirates (UAE).
All successful publishers and authors have an impeccable sense of timing and generate literature with an eye upon the calendar. So it isn’t surprising that we have a flood of books on the fall of the Berlin Wall that started the process of disintegration of the Soviet Union and the collapse of communism in Europe. But what we have is an embarrassment of riches which try to unravel why such an all-embracing system that Alexander Solzhenitsyn described as “all pervasive, paranoid, oppressive, incompetent, lethal” in the latest edition of The First Circle (Harper, $18), came to an unexpected end. Almost everyone had expected that it would have to be killed; instead it collapsed, as if a house had fallen in on itself. What happened?
Hinduja Group Company Ashok Leyland would open three more outlets in Punjab including, one in Chandigarh in the current fiscal to expand its network.
The government today said in the Lok Sabha that recommendations of the Committee on Content Code would be implemented after reaching a broad consensus after consultations with stakeholders.
With the Dubai World crisis, Indian exporters have again started biting their nails, even as the government assured there would be no impact on the domestic economy.
Big Bazaar, the hypermarket of Pantaloon Retail, has come out with a breakfast cereal range under its private label, Tasty Treat. Big Bazaar already sells noodles, pasta, vermicelli, soups, namkeens, chips, toast, khari, papads, jams, pickles, carbonated drinks, ketchup and fruit beverages under the brand. It has now added breakfast cereals to the range.
Kanika Datta / New Delhi September 17, 2009, 0:42 IST
Allaying apprehension about its disinvestment, aluminium giant National Aluminium Company (Nalco) is all set to invest over Rs 25,000 crore to launch new projects and undertake major expansion despite decline in profit due to global recession.
The Tamil Nadu government"s proposed Financial City, aimed at wooing private financial players, is expected to come up on 180-acres at suburban Sholinganallur and Perumbakkam and would initially attract companies involved in banking and insurance accounting operations, Deputy Chief Minister M K Stalin said today.
The number of foreign tourists visiting Japan saw a 23 per cent decline in July, a report by Japan National Tourism Organisation pointed out.
The country"s second-largest car maker Hyundai Motor India (HMIL) today reported a 28.46 per cent growth in its total sales in November at 55,265 units, its highest ever since starting operations in India 12 years ago.
Industry body FICCI today sought more fiscal sops in the 2010-11 budget to prop up the economy.
Shobhana Subramanian & Shyamal Majumdar / Mumbai November 24, 2009, 0:00 IST
Cement-maker, Ambuja Cements, today said that its cement production in October stood at 14.98 lakh tonnes as against 14.51 lakh tonnes in the year-ago period.
General Motors Co will close Saturn, the brand created 24 years ago to emulate successful Japanese carmakers, after Penske Automotive Group Inc broke off discussions to buy the unit.
Subir Roy / New Delhi November 27, 2009, 0:31 IST
In yet another mishap involving the Delhi Metro, a labourer was killed after he was hit by a steel beam being lifted by a crane at an under-construction metro site in west Delhi early this morning. The incident took place at 5.45 am at Ashok Park Metro station in Punjabi Bagh.
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.
Second hand demand entirely for the top-end LX variant
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.
The Sensex has now re-gained the 17,000 mark and is now at 17,007, up 376 points.
In a stern message to Pakistan, the United States has asked it to shed its policy of "using insurgents" like LeT as a strategic tool and warned that if it cannot deliver against terrorists, the US may be impelled to use "any means" at its disposal.
Foreign Institutional Investors raised their holdings in as many as 25 Sensex companies in the first quarter of the current fiscal, riding on positive global cues and a decisive verdict in the general elections.
With the city earning the dubious distinction of having the largest number of swine flu victims in the country, a heavily burdened health care apparatus is banking on development of herd immunity to combat the pandemic.
Exports from the Special Economic Zones (SEZ) are likely to grow by 15 per cent in the current fiscal over 2008-09, a senior government official today said.
The government is mulling over setting up diamond bourses to make the country a global trading hub.
The Ashok Leyland (AL)-Nissan joint venture is likely to roll out light commercial vehicles (LCVs) by 2011, a company source said today.
Less than three months after UK’s luxury automotive brands, Jaguar and Land Rover, introduced their models in India, the company is gearing up to launch its cheapest product, Freelander 2, here on Tuesday.
The Centre has indicated that it would consider giving direct cash subsidy to state-owned oil marketing companies this year, instead of bonds, to compensate them for selling cooking fuel at lower than market price.
Gold prices today surged by Rs 490 to scale a new high of Rs 18,460 per ten gram in the bullion market amid the metal setting a new record in global markets and continuing weakness in dollar.
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.
In the first faint signs of rapprochement since Tata Motors withdrew its iconic Nano small project from West Bengal last year, Chairman Ratan Tata said he would return the land in Singur if the West Bengal government compensated the company for the investment it made at the site and was open to considering an alternative project there.
Despite facing resistance from the Opposition as well as a section within the party, the Left Front government in West Bengal is exploring ways of reviving the shelved chemical hub project at Nayachar.
Pharma company Ranbaxy Laboratories today said it has received the final approval of the Canadian drug regulator Therapeutic Products Directorate (TPD) to market and manufacture "Ran-Amlodipine tablets", used in treating hypertensions.
To strengthen its IP-leveraged solutions business and capitalise on opportunities in the telecom sector, Infinite Computer Solutions (ICS) India Limited is looking at acquiring two US-based companies focussed on telecom-specific Intellectual Property (IP)-led solutions. Infinite is looking at acquiring companies with revenues in the $10 million-$15 million range, said Infinite chief executive officer Upinder Zutschi.
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).
Amid rice prices going up, the government today said it has no plans to abolish customs duty on rice import for now as there is sufficient stocks of the foodgrain.
Has gained 10.45 per cent on NCDEX since July 29.
Apollo Sindhoori Capital Investments Limited (ASCIL), the retail broking arm of Aditya Birla Financial Services Group, has appointed Ravishankar Gopalan as their new Chief Operating Officer.
Gold imports fell by 50 per cent in June compared to the same period last year due to slowing demand amids a rise in prices.
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.
As many as seven of the top-10 firms added more than Rs 81,000 crore to their market capitalisation during the week, while three state-run companies -- NMDC, NTPC and ONGC -- saw erosion in their valuation.
MoUs range across pharma, telecom, IT and homeland security.
Latha Jishnu / New Delhi November 26, 2009, 0:28 IST
Russian President Dmitry Medvedev today lauded India"s "historic successes" in socio-economic development and said that ties with New Delhi are Moscow"s "unconditional foreign policy priority".
After the Budget, it’ll be time for some Bollywood entertainment in Parliament. The Lok Sabha secretariat has arranged for a special screening of Danny Boyle’s highly-acclaimed film, Slumdog Millionaire, on August 3 for the MPs.
A meeting of eight political parties convened by Home Minister P Chidambaram here tomorrow will try to devise a mechanism and roadmap to resolve the vexed Telangana issue, even as leaders from three regions of Andhra Pradesh are sticking to their known stands.
In order to cash in on the rising festive demand, the World Gold Council (WGC) today said it has tied up with leading retailers across five cities in India, to organise a gold festival named "The Great Indian Gold Rush" from September 19 to October 19.
Commercial banks would come out with a plan for financial inclusion by the end of the financial year, RBI Governor D Subbarao announced here during a bankers’ meet on financial inclusion and promotion of financial literacy.
BSM Team / Mumbai July 18, 2009, 0:24 IST
The country’s largest carmaker, Maruti Suzuki India (MSI), today said its exports are expected to achieve the 100,000 units mark in the current financial year (2009-10).
Toyota Kirloskar Motor (TKM) is considering a price increase in Corolla Altis and Innova due to rising input costs and fluctuation in exchange rates, the company said in a statement today.
City-based drug firm Natco Pharma (NPL) will make ten million strips of its generic version of Roche"s swine flu medicine Tamiflu available by October.
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.
Barely a day after Force India’s historic podium finish at the Belgian Grand Prix, a war of words broke out between Sports Minister M S Gill and Vijay Mallya on the government’s refusal to acknowledge Formula One as a sport.
Barely a day after Force India"s historic podium finish at the Belgian Grand Prix, a war of words broke out between Sports Minister M S Gill and Vijay Mallya on the government"s refusal to acknowledge Formula One as a sport.
Vijay Mallya-led Kingfisher Airlines board today approved an enabling resolution to raise $100 million (nearly Rs 487.8 crore) by various fund raising instruments.
Business Standard / New Delhi September 4, 2009, 0:00 IST
Prime Minister Manmohan Singh has assured Sri Lankan President Mahinda Rajapaksa of all support for resettlement of the Tamil civilians, displaced due to fighting between security forces and the LTTE in the north.
India and Pakistan"s decision to carry on with the dialogue process drew mixed response in Kashmir today with mainstream parties welcoming it and separatists insisting that the Sharm-el-Sheikh meeting was "inconclusive" without the participation of Kashmiris.
State-run Bharat Sanchar Nigam"s (BSNL) net profit dipped to Rs 104 crore in 2008-09 as staff costs rose and revenues fell in the period, Rajya Sabha was informed today.
Sterllte Technologies, a leading global provider of transmission solutions, today announced that it has won a contract from BSNL, valued at Rs 372 crore for enabling a Fiber-to-the-Home (FTTH) Network based on Gigabit Passive Optical Network (GPON) technology. Sterlite was awarded a major share of the total outlay of project, among competition from global players. Sterlite has streamlined its efforts to ensure that the contract is executed within FY10.
The Great Indian Gold Rush, a month-long event organised by the World Gold Council (WGC), has received an overwhelming response despite the sky-high prices of the precious metal.
Sensex ends up 35pts
China to remain the largest market, say analysts.
The hike in import duty on gold could spur smuggling of the precious metal, especially during the festivals when the demand soars, the World Gold Council (WSG) warned today.
World"s largest steel-maker ArcelorMittal today announced the appointment of Peter Kukielski in the Group Management Board of the company, effective from January 1, 2010.
Gold prices today jumped by Rs 170 to close at all-time record of over Rs 18,000 per 10 gm in the bullion market here on strong marriage season demand, positive global cues and a weaker dollar.
Gold prices soared sharply and seemed to be heading towards the crucial psychological 18,000-mark at the bullion market here today driven by heavy speculative buying amid uninterrupted rally in the overseas markets.
Anil Dhirubhai Ambani Group (ADAG) company, Reliance Communications, today said its capex would decline significantly starting this year and continue on a downward trend in the future.
State-owned oil companies will pay Rs 27 a litre, or 25 per cent higher from existing level, for buying ethanol from sugar mills for doping petrol.
Tata Communications has launched its internet clean pipe solution for the small and medium business segments. The solution, company said, will ensure clean internet traffic by eliminating malware, spam and virus without the customer having to incur capital expenditure on security hardware.
Raising banks’ cash reserve ratio (CRR) might be one of the tools to be used by the Reserve Bank of India (RBI) to suck out excess liquidity in the banking system, Chairman of Prime Minister’s Economic Advisory Council C Rangarajan today said.
US markets advanced on Monday, sending indexes to fresh 13-month closing highs, after Federal Reserve Chairman Ben Bernanke reinforced expectations that interest rates would stay low to help growth.
The proposed policy of direct transfer of fertiliser subsidy to farmers is misconceived and inappropriate, according to a study by scholars of the Indian Institute of Management-Ahmedabad (IIM-A).
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.
With Haryana Chief Minister Bhupinder Singh Hooda earlier indicating review of the Haryana industrial policy, industrialists in Panchkula eagerly await the review that might help in changing the facade of industry in the state.
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.
Realising that their two-way trade did not match the potential, India and Japan today decided to give push the negotiations on the proposed Comprehensive Economic Partnership Agreement, with an aim to conclude it by next year.
The DRDO has developed a rapid and cost-effective "Swine Flu virus H1N1 specific isothermal gene amplification assay" for reliable and early clinical diagnosis of the disease, the Lok Sabha was informed today.
Futures prices fell 5-12% in December; trend may continue next year.
He’s done it again. The director whose fun films pack a hard social message is relishing the success of 3 Idiots. Abhilasha Ojha finds out what makes him tick.
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.
The cost cutting measures taken by companies to tackle economic crisis, have sharply eroded morale and commitment of their employees, especially of the top performers, a study by Watson Wyatt says.
Swiss pharma major Novartis today said it will buy a 52 per cent stake in eye care firm Alcon for an estimated $28.1 billion.
Equity brokerage volume jumps 66% in April-June while non-broking income dips.
Insurance companies have sought changes in the draft exposure guidelines and have asked the regulator to defer their implementation by three months. In addition, the set of public disclosures for the insurance companies going public and those not approaching the market to raise capital are likely to be different.
Crisil’s IER initiative should benefit investors in the long-run provided the service is available on an ongoing basis
ICICI Prudential AMC is eyeing Rs 250 crore business from its Child Care Plan Scheme in the current fiscal.
The promoters of Aegon Religare Life Insurance today infused fresh capital of Rs 70 crore into the company taking the total base to Rs 465 crore.
In a sign of confidence in the Indian markets, foreign institutional investors (FII) pumped in over $6 billion, or about Rs 29,940 crore this year, with over $1 billion coming in July alone.
After the launch of the country"s first indigenously built nuclear submarine, India has the "technical expertise and capability" to build nuclear-powered aircraft carrier and warships, Atomic Energy Commission Chairman Anil Kakodkar has said.
The stock jumped 8.4 per cent to Rs 377.30, a 52-week high, after the foreign institutional investor (FII) — Capital International A/c Emerging Markets Growth Fund Inc bought 1.09 million equity shares at a price of Rs 374.18 per share through block deal on the National Stock Exchange.
Business Standard / New Delhi December 06, 2009, 0:44 IST
Will use funds to finance operations of group firms; to have a total war chest of Rs 10,500 crore.
Ore prices have increased 20 per cent in a month.
Experian is the second credit bureau in the country to confirm conditions after Credit Information Bureau of India.
Move aimed at expediting projects undertaken in collaboration with foreign technology providers
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.
‘Clear the proposal for laying of optical fibre network before Dec 7’.
Foreign telecom companies today stayed away from a meeting to discuss the blueprint for 3G (third generation) mobile spectrum auction, while domestic players were riddled with doubts regarding regulation and availability of airwaves.
- Policy momentum required - A practical strategy - Rs 11,088 cr floating via chit funds in 3 southern states - Reacting to rumours - MS launches Windows 7, pre-loaded PCs start at Rs 15k - Back on the farm
In a move to bring greater transparency and discipline among market participants, the Securities and Exchange Board of India (Sebi) on Thursday put out mandatory requirements related to dealings between investors and stock brokers (including trading members). The move gives brokers the right to take actions against clients. The deadline for implementing the norms is March 31, 2010.
Sunil Jain / New Delhi December 7, 2009, 0:29 IST
Japanese auto giant Honda today said it is likely to start car assembly at its second manufacturing facility in India from 2012.
Jharkhand Mukti Morcha (JMM) chief Shibu Soren who today became the chief minister of Jharkhand for the third time, has never been elected to the state Assembly.
Magma Fincorp has picked up 7 per cent stake in Experian Credit Information Company of India, the proposed Indian arm of global information services company Experian.
Delhi-based businessman Sanjay Dalmia today approached the Bombay High Court seeking permission to go abroad but a Division Bench asked him to first appear before Economic Offences Wing (EOW) here in connection with a cheating case filed by Indiabulls Financial Service.
Health experts in the US have claimed that acupuncture treatment potentially increases breast cancer patients" sex drive and also reduces the side effects of hormone therapy.
Wanted: 1,800 volunteers for free holiday packages to Mexico and Guatemala! All inclusive. Also on the cards: Free vacation in India!
The country"s second largest public sector lender, Punjab National Bank, today said it can raise up to Rs 7,000 crore from bonds to fund growth plans.
Ahmedabad-based oil and gas pipeline infrastructure company Jaihind Projects Ltd. has announced that it will fulfill all its seven commitments by end of May 2010. The company recently got various contracts worth Rs 375 crore.
Leslie D"Monte & Kirtika Suneja / New Delhi December 5, 2009, 0:15 IST
Offshore drilling services provider Aban Offshore today said it has repaid bonds worth Rs 800 crore along with accrued interest.
Essar Oil is on track to complete expansion of its facility at Vadinar refinery in Gujarat to 16 million tonnes by December 2010, brokerage firm IDFC-SSKI said in its report on the firm while putting a price target of Rs 194 on its stock.
LGS Global Limited, a Hyderabad-based software development company, has been awarded a $2.8-million (approximately Rs 13.44 crore) grant for developing a Health Insurance Portability and Accountability Act (HIPAA)-compliant, web-based data entry and reporting platform, which is a nationwide initiative to enhance the quality of care to those suffering from HIV/AIDS.
Wholesale food prices touched 10-year high with food inflation inching to 19.95 per cent for the week ended December 5, prompting Finance Minister Pranab Mukherjee to commit food imports to maintain supply in the domestic market.
Tata Motors slipped to a low of Rs 701 and finally settled at Rs 705, down 3.5% from its previous close. The counter witnessed trades of 1.24 million shares as against the two-week daily average traded volumes of 939,906 shares on the BSE.
Gates-food: When Bill Gates was a young man, he wanted to turn his taste for software into a successful business. The Microsoft founder got rich beyond any technologist’s dreams. But Gates has changed over the years. His latest idea isn’t quite to get poor through low technology, but he will be giving away money to help people engaged in the simplest of economic activities: subsistence agriculture.
The Telecom Regulatory Authority of India (Trai) is likely to propose the auction of second generation (2G) spectrum, delinking spectrum from unified access service licence (UASL).
Private sector mutual fund house Religare AMC, a relatively new but fast-growing player, today said that abolition of entry load charged to investors will benefit the company and the industry as a whole.
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.
The West Bengal government has not received any compensation bill from Tata Motors for the land at Singur given for its small car project, although group chairman Ratan Tata has expressed willingness to return the land to the government if compensated for its investment.