Parliament shut for fifth day, key reforms at risk
Parliament was adjourned for the fifth straight day on Friday as Opposition protests over high prices scuppered debates, delaying discussion of key economic issues like tax reforms, expansion of welfa |
`IPO norms for gen insurance in 2 mths'
rda has said t will finalise guidelines for public offer
by general insurance companies in a couple of months. "I carry with me the draft regulations (on health insurance policies). It will be out v |
Qualcomm sells 26% in Indian venture
Qualcomm has agreed to sell 26% stake in its India broadband venture to Global Holdings and Tulip Telecom for about $58 million. Global Holdings, which owns telecom infrastructure firms GTL and GTL In |
Exclusive! Failure wages
Tony Hayward's leaving as boss of BP was deftly
handled
|
More work days but poor asset creation in job guarantee scheme
Latest
data on the employment guarantee scheme reveal a marginal improvement in thenumberof workdaysper household, but expose the poor utility of the programme when it comes to creatingdurablephysic |
PSU banks get Rs 4,868-crore infusion
The government on Friday decided to release Rs 4,868 crore to PSU banks for providing concessional loans to farmers. The Cabinet decision will help lenders
providefarmersshort-termcroploansat7%inter |
Food subsidy bill could double: Pawar
The food subsidy bill could nearly double to Rs1,07,381croreif thegovernmentdecidesto supply 35 kg of grain at cheaper rates to the poor under the proposed Food Security Act.
In the 2010-11 Budget, |
Vaidyanathan to leave ICICI-Pru, join Future
V Vaidyanathan,managing director and CEO, ICICI Pru
dential,ismovingtotheFuture Group. Vaidyanathan, among the younger talents of ICICI Bank, was earlier heading the bank's retail business. Th |
Chinese dragon leaps over Japan's setting sun
: China has overtaken
Japan to become the world's second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of millions of people out of poverty. Depending on h |
US growth slows to 2.4% as trade gap widens
ap widens Growth in the US slowed to a 2.4% annual rate in the second quarter, less than
less than forecast, reflecting a larger trade deficit and cooler
consumer spending.
|
PNB fires first shot, raises lending rates by 75 bps
In a move
that indicates money could become much more costly soon, Punjab National Bank (PNB) on Friday increased lending rates, raising its benchmark prime lending rate(BPLR)byasteep75basis pointst |
Sebi okays rupee-dollar spot options on stock exchanges
In a move hecurren
thatwillbroadenthecurrency derivatives market, the capital market regulator on Friday allowed options trading in the rupee-dollar spot rate on stock exchanges. So far, these option |
Hotels check in at industrial zones, hospitals
: If it
was malls earlier, it's special economic zones (SEZs),industrialpockets, even hospitals that midmarket hotels are now piggybacking for co-location in order to cut costsand increase |
Smart hands to polish parliamentary debate
India's Parlia
mentarians have worked out a way toescapethechargeof poorquality of debate and legislative interventionsinthetwohouses. They have teamed up with PRS Legislative Research, India's |
Punjab raises ceiling to levy VAT on petrol to 32%
The SAD-BJP led government in Punjab has raised the ceiling of valueaddedtax(VAT)itcan levy on petrol by 2% to 32% even as the two parties are fiercely protesting against inflation in the Parliament. |
Punjab to have country's first private grid-connected solar plant
Azure Power, country's first private grid-connected solar power plant developer has started operations of India's first private mw scale solar power plant in Punjab. Inderpreet Wadhwa, CEO,
A |
Maya govt nod to expressway linking NCR to U'khand
In a significant step forward the Uttar Pradesh Cabinet cleared the requestforproposal(RFP)and draft concession agreement for the 150-km-long, eightlaned access controlled prestigious Upper Ganga Cana |
Looking ahead on food inflation
There was a time when the agriculture minister proclaimed he wasnotanastrologer.Therefore, he wouldn't be able to tell us when food price inflation would decline.Afterthesuccessof Paul the octopus, pe |
No subsidy to APL
As the government and policymakers debate the efficacy of universalising the public distributionsystem,India'sapexcourthas suggested the total disbanding of subsidised grain distribution to abovepover |
Cameron's coming
Tsays something about the new UK PM's commitment to his flagship foreign policy initiative in India that he has taken personal charge of his country's relations with ours, while the deputy PM Nick Cle |
Start on stats
duce a housing start-up index that will measure the construction of housing projects is welcome.The much-needed index, likely to be introduced in December this year,was first suggested by RBI two year |
This paper* reviews various options for financing national and regional infrastructure development in Asia:
The financing of national and regional infrastructure in Asia for increased connectivity and integration should be viewed in the context of the ongoing global financial and economic crisis and the reb |
INTACH opens branch in Ladakh to preserve culture
The Indian National Trust for Art and Cultural heritage (INTACH) on Thursday set up its branch in Ladakh with an objective to preserve the culture of the region. The new branch, Ladakh Chapter of |
Punjab Cabinet gives relief to developers
Punjab Cabinet on Thursdayapprovedtheprocedure tobeadoptedforgivingcredit to the promoters of mega projects in the External DevelopmentCharges(EDC). The procedure had been rationalised in view of |
Haryana clocks highest daily power generation
The
Haryana Power Generation Corporation Limited (HPGCL) continues its trend of breaking records and giving excellent performance by achieving a record generation of 548.99 lakh unit of electricity |
After 3G, clock auction for FM radio waves too
The run
The runaway success of 'clock auctions' used to select winners of 3GandBWAspectrumhas prompted the government to take the same route to award FM radio licence as well. However,the method, |
RIL dips 3% as K-G delay sparks cut in target price
Reliance Industries fell 3.09% on the BSE on Wednesday, as brokerages such as Edelweiss, Motilal Oswal and IIFL downgraded the company,s aying it could take longer to increase gas production at its K- |
RIL, Essar eye BP's Africa retail ops
BP is in talks with RIL and the Essar Group to sell its African retail assets that could be worth as much as $500 million. BP intends to sell its marketing business in Namibia, Malawi, Tanzania and Bo |
Banks hike deposit rates to lure funds
Anxious
Anxious that interest rates may move up quickly and that they may have to pay more to attract deposits later,b anks on Wednesday rushed to announce higher deposit rates. Among the banks t |
INFLATION TO MODERATE TO 6% BY MARCH, SAYS SUBIR GOKARN
A day after RBI raised key policy rates, deputy governor Subir Gokarn said he expected inflation to moderate to 6% by March next year as policy action helps cool demand pressures. Gokarn tells
Shobh |
M&M rules out equity dilution
M&M has ruled out equity dilution as an option to raise funds for buying
Ssangyong Motors
|
Kingfisher Air seeks freeze on loan repayment
The
Kingof GoodTimeshasfallen on bad times. Weighed down by Rs 6,000-crore debt it finds tough to service due to poor capacity utilisation and heavy losses, the Vijay Mallya-led Kingfisher Airlines |
Interest rates set to rise as RBI raises repo, reverse repo rates
Clearly anxious
about runaway inflation but convinced that economic recovery is strengthening, RBI on Tuesday turnedslightlymorehawkishthanexpected, increasing the repo rate by 25 basispointsto5.7 |
Refining margins, volumes drive RIL Q1 net up by 32%
Driven by
higher volumes and margins in its refining business, Reliance Industries (RIL), India's largest private sector company by market capitalisation, posted a 32% increase in its net profit at |
`MORE TIGHTENING NOT DESIRABLE'
SBI chairman OP Bhatt said further tightening of liquidity was not desirable. He added,
"An upward bias has definitely built up and
now all depends on credit offtake."
|
`TOCHECKINFLATION, NOTHURTGROWTH'
FM PranabMukherjeesaid, "IexpecttheRBI policyto leadtofurthereasingofinfla
tionwhichisalready goingdownanditshould
alsokeepusontrackintermsofgrowth."
|
fe FIRST
JFE buys 14.99% in JSW Steel for Rs 4,800 cr
Tokyo
based JFE Holdings, the world's fifth-largest steel producer, will pick up a 14.99%stakeinJSWSteel,India's third-largest steel manufacturer for over Rs 4,800 crore, a move that will help the Sa |
RESULT CORNER
L&T net profit declines 58% to Rs 666 crore
Larsen & Toubro on Tuesday reported 58% decline in its profit after tax for the first
tax for the first quarter of FY11 to Rs 666.17 crore from Rs 1,598.20 crore in the corresponding quarter of the |
HUL net down 1.8% on input cost, ad spend
FMCG leader Hindustan Unilever (HUL) is planning to hike prices of some
of its products as high raw material costs and rising advertising expenditure crimp margins. The company on Tuesday announced |
No RBI decision likely on licences
The RBI discussion paper on banking licences is expected to refrain from taking a firm view on whether industrial houses and corporates should be allowed to float banks even as it will debate the meri |
No subsidised grain to APL families: SC
The Supreme Court on Tuesday asked the Centre to consider not giving subsidised grain to those above the
poverty line.
|
BANKERBYTES
The policy is on the expected lines. There is an upward bias in interest rates.
But, liquidity in the system will
decide when this bias gets translated into reality -KR Kamath, CMD, Punjab Nation |
Tight liquidity spells dearer loans
WITH the Reserve Bank of India having sig nalled higher rates and moderate liquidi ty,bothcompaniesand individuals wil |
Policy review every six weeks: RBI
On lines of central
banks abroad, the Reserve Bank of India (RBI) would now undertake midquarter policy reviews in every six weeks, compared with the once a quarter at present. The mid-cycle reviews |
Inflation pegged at 6% by March; economists see further rate hikes
THE Reserve Bank of India re vised upward the annual infla tion target by 50 basis points, to 6%, by March 2011 from earlier projection of 5.5%. "Taking into account the emerging domesti |
CHANDA KOCHHAR
Focus on stability to support sustainable long-term growth
T HE ReserveBankof India'sfirst quarterreviewof monetarypol icy for fiscal 2011 has endorsed the strong growth fundamentals of the Indian economy . The GDP growth projection for |
No surprises for bond market
HAVING already priced in a 25-basis points increase in the repo rate,t he reaction from bond markets to Tuesday's rate hike by the central bank was moderate.The yield on the tenyear benchmark bond ros |
INDUSTRYBYTES
This is on expected lines as there is a definite and calibrated stance taken to contain inflation.
RBI's revised
growth forecast depicts positive business sentiments and also is in line with CII' |
STUART A DAVIS
RBI has prioritised inflation firefight
RBI has hiked the repo by 25 basis points, the reverse repoby50basispointsand kept the cash reserve ratio unchanged. While the market had widely expected the CRR to remain unchanged, t |
Credit offtake may surpass estimate
WITH the economy witnessing a faster recovery,bankers expect the credit offtake to exceed the Reserve Bank of India's annual target of 20% in the current fiscal. RBI, in its first quarter review of |
Outlookoninflationwillbeshapedby monsoon,globalenergy&commodityprices
RBI governor Duvvuri Subbarao seemed to be in good spirits as he addressed the media after announcing the monetary policy on Tuesday. In an attempt to emphasise the importance of the monsoon, Subbarra |
Tata Docomo offers 1 paisa/sec call to US, Canada from Punjab
Un
leashing another round of price war in telecom space, Tata Docomo on Tuesday slashed its international call rates by whopping 83% to 1 paisa/per second on calls from Punjab to the US and Canada.
|
NHAI puts Rs 4,225-cr Punjab highway projects on fast track
The
major hurdles coming in the way of expeditious completion of the Rs 2,750-crore project of six-laning of PanipatJalandhar national highway was sorted out on Tuesday. Punjab de |
Chandigarh entrepreneur gets Australian Business Award
A
Chandigarh based entrepreneur, Naresh Gulati, CEO, OceanicConsultants,anoverseas education consultancy has been awarded Australian Business award 2010 in the Enterprise category from among an array |
Pawar snubs finmin officials for favouring NSE
New Delhi, Jul 26: Agriculture and consumer affairs minister Sharad Pawar has disapproved of the alacrity shown by some officials in the department of economic affairs to aid the National Stock Exchan |
Posco MoU lapses, Orissa studying application
The MoU between Posco and Orissa for the proposed $12-bn steel project lapsed on July 22, at the end of its five-year term, and hasn't been renewed since, reports Nistula Hebbar & Dilip Kumar Bisoi. P |
Maruti shares fall record 12.3%
Maruti Suzuki shares tumbled as much as 12.3% on Monday, its biggest single-day fall, as the carmaker spooked investors with a surprise rise in royalty payments to its parent, forcing analysts to slas |
Fortis pulls out of Parkway battle, pockets Rs 350 crore
Healthcare promoters Malvinder and Shivinder Singh on Monday exited the takeover battle to retain majority control in Singaporebased hospital chain Parkway ,neatlypocketingaround Rs 350 crore i |
Inflation a worry, says RBI; rate hike likely to be 25 bps
ON THE MARGINS Overall (median) GDP growth rate for 2010-11 at 8.4%, as against 8.2% in the previous survey The forecast for the agriculture sector revised marginally upwards from 4% to 4.1 % For t |
Moody's ups India's local debt rating on reforms
edging the Indian economy's resilience throughout the global recession, Moody's Investors Service has upgraded the local currency government bond rating to Ba1 from Ba2. Moody's has also affirmed Indi |
Renault, Nissan to prevent hatch cannibalisation
carmaker Renault gets all set to go solo with its proposed hatch that is slated to hit the Indian roads by 2012, the company has started discussions with Nissan--with whom it has a global alliance for |
THE SHOPPER'S SHOW
EVI'S, Whirlpool, LG, Samsung, Reebok... the list goes on. These are among the 500-odd brands that are available on the |
"Capturing the urban market is more of a placement game"
Micromax, the newcomer in the Indian handset industry, took only 28 months to transform itself from a micro enterprise to a brand having maximum impact on the market. The company's business director |
Zenith Optimedia raises global ad forecast, projects 3.5% rise in 2010
PUBLICISGroupe's Zenith Optimedia has revised its global ad forecast for 2010,projecting a 3.5% rise in spending to $448 billion.In April,Zenith Optimedia had forecast a 2.2% gain in ad spending f |
Pepsi's BP oil spill activity praised by CSR experts
I NDUSTRY experts have praised Pepsi's corporate social responsibility (CSR) activity surrounding the BP oil leak in the Gulf of Mexico calling it a benchmark.
The activity, part of its `Refresh |
Google, OMG tie-up to refine online display advertising service
GOOGLEhas tied up with media servic ing unit Omnicom Media Group (OMG) for online display advertising.The two-year partnership will see Omnicom (OMG) buy display ads for clients through Google. |
Adidas moves global ad account from 180 Amsterdam to Sid Lee
ADIDAS is shifting its global advertising account from 180 Amsterdam to the Canadian agency Sid Lee. 180 Amsterdam has held the Adidas account for 12 years, one of the longest in the advertising |
STATSPEAK
The Ugly Truth
A poor online review about customer service is more likely to have a lot of influence on consumers than a good review Online postings that have a lot of influence in consumers' decision to do business |
DOWN BUT NOT OUT
IT has been nearly five months since Viacom18's general en tertainment channel (GEC) Colors lost its perch at the top. And this has happened after the channel held on to it |
Pepsi fires a salvo to restart the cola wars
THE cola wars shaped not just the soft drink industry but also Madison Avenue, inspiring the satirical newspaper The Onion to declare, in a 1997 headline,"Ad Industry Vet |
Old Spice argues that real men smell good
WHEN Old Spice, the 72 year-old Procter & Gam ble brand,was planning a new advertising campaign for shower gel earlier this year, it faced a challenge: its research suggested women purchase as much a |
Costly inputs dent operating margins
There have been a but by and large
couple of surprises but by and large India Inc's performance in the three months to June 2010 has been in line with expectations. A sample of 227 companies shows |
Trai-likebodytofixpostaltariffs
A new regu
lator on the cards for India Post and private courier firms would fix the tariffs for their services.
The government has comprehensively re-drafted an earlier Bill on postal regulation |
Dubai World arm seeks refund
Dubai World's real estate development arm, Limitless Holdings, has sought refund from the Karnataka government of its Rs 200-cr investment in the Bidadi Satellite Township Project near Bangalore.
D |
DMICDC to invite bids for 4 projects
Delhi Mumbai Industrial Corridor Development Corporation will invite global bids in the next three months to build four mega infrastructure and
logistics projects. P
|
Pranab rises above the
turf wars MK VENU
|
SAIL, CIL offers unlikely this fiscal as finmin rejigs selloff
The
government has rejigged the order of PSU stake sales since companies like SAIL and Coal India--that were expected to tap the market by October--are facing problems in getting the necessary r |
Centre seeks greater role for pvt sector in foodgrain storage
Inordertobridgethewidening gap between foodgrain production, procurement and storage facilities, the Centre is looking at greater private participation. It is planning to tweak its existing seven-year |
Pvt mandis to uplift UP farmers
Struggling
under the dual pressure of achieving a 5% growth in agriculture and meeting chief minister Mayawati's directive to double the incomeof farmersintwoyears, the Uttar Pradesh government is e |
Navjyoti initiative by Kiran Bedi for MBAs takes off
: Kiran
Bedi,India'sfirstandhighest ranked woman IPS officer would be visiting Aryans campus next week to interview the candidates for the selection of needy and deserving in MBA and BBA course (11 |
Himachal to give two 960-mw power projects to Brakel
Revers
ing its earlier position, Himachal Pradesh has informed the Supreme Court that it would give 960-mw Jangi-Thopan and Thopan Powari power projects to Brakel Corporation and rejected the allegat |
SUNDAY STORY
For these entrepreneurs, education pays
When
Jaisimha Jaithirth and Sudhakar Joshi, two young professionals in their mid-thirties, decided to start a businessventureof theirown, the education system, which leaves a little too |
Maruti net dips; market share falls below50%
Escalat
ing raw material costs and a higher royalty paid to its Japanese partner Suzuki Motorshaveeatenintotheprofits of the country's largest carmaker, Maruti Suzuki. The company on Saturday poste |
IOC slips into red on low under-recoveries
Revenuelossesfromsellingfuelbelowcost
pushed the largest state-owned refiner, Indian Oil Corporation(IOC),intoalossof Rs3,388croreintheApril-Junequarter
this fiscal, the company said here. The |
PM for tight fiscal control, pegs inflation at 6% byyr end
Asthegov faceabel
ernmentpreparestofaceabelligerent Opposition in Parliament on the issue of price rise, Prime minister Manmohan Singh, in his speech to the National Development Council (N |
Temples in Tamil Nadu line up for ISO blessings
Do Gods and
Goddesses too need blessings? It certainly seems so going by the recent trend. A host of temples and religious bodies from Tamil Nadu are busy knocking the doors of the International Sta |
POINT OF VIEW Stock market retreat's end may be in sight
FEAR HAS been on the rise in equity markets, re flecting concerns over sovereign debt, the sus tainability of the euro, slowing growth in China and persis |
SURROGATE PRACTICE
THEMOVEtoalow internation l audit firms to arry out audits n India appar ntly gives an mpression to hegeneralread rs that these irms are not op rating in India
erating in India at the moment. |
from the discomfort ZONE
Art magnifies imagination
HISTORY HAS DOCUMENTED different eras that have taken business forward. Technology th advancement in the 19 century established the mechanical age, the 20th century belonged |
FINGERS CROSSED
H UGE AMOUNT of debris, frantic landscaping ef forts,labourerstoilingday in and day out, and incom plete boundary walls--it's a |
