Corporate
The stock pared all its gains and finally ended flat at Rs 1,341. The counter clocked volumes of 79,706 shares as compared to the two-week daily average traded volumes of 90,915 shares on the BSE.
The Sensex is swinging between zones owing to alternate bouts of buying and selling. The index is now at 16,878, down 34 points.
Shares of Voltas spurted 20.55 per cent to Rs 118.2 on announcement of decent FY09 results. Net profit for the year ended March 31, 2009, increased by 21 per cent to Rs 251.40 crore, while total income rose 34 per cent to Rs 4,361.72 crore during the period.
The Sensex opened in the positive zone at 16,912 but however slipped into the red owing to subdued cues from the gloabl markets all over. The index is now at 16,870, down 42 points.
Sensex has opened at 16,926.. - up 14 points. The index has slipped and is now down 27 points at 16,886.
The market is in a short-term downtrend and should find support between 5,000 and 5,050.
Premier of Australia"s Victoria provience, John Brumby said victoria was one of the attractive destinations for trade and business investment and opportunities and invited Indian companies to invest and expand their global operations in Victoria.
Pune-based Bajaj Auto, India"s second biggest motorcycle maker today launched the Pulsar 135 LS (light sport) priced at Rs 51,000 (ex-showroom Delhi) at an event held in the capital.
Bacardi-Martini India and Hungama Digital Media have launched a music and video download website called Bacardi Mixxology (mixbacardi.com) to promote the Bacardi white rum brand in the country. Similar to iTunes, the internet storefront allows users to download music, videos, ringtones, mobile wallpapers at a reasonable price of Rs 10 a download or Rs 99 for unlimited downloads for a month, both on PCs and mobile handsets.
American chocolate maker Hershey and the charitable trust that controls it are nearing a final decision on whether to bid for British confectionery major Cadbury, says a media report.
Gulshan Kumar Pathania, president, Association of Australian Education Representatives in India (AAERI), has revealed that the recent attacks on Indian students in Australia has resulted in new enquiries coming down by 60-70%. “The impact of attacks on Indian students has been severe as the number of enquiries made by Indian students regarding studies in Australia has dipped significantly,” Gulshan added. Gulshan was here to discuss the role being played by Association of Australian Education Representatives (AAERI) to safeguard the interests of Indian students opting for studies in Australia.
Hershey Co’s controlling trust wants the candy company to make a $17 billion bid for British confectioner Cadbury Plc, the Wall Street Journal reported, citing unidentified people familiar with the matter.
Gammon Infrastructure Projects has acquired 22.8 million shares of Vizag Seaport (VSPL) increasing its stake in the firm to 73.76 per cent and made it a subsidiary of the company.
A court here has issued a non-bailable warrant (NBW) against Karnataka minister for tourism and mining magnate Janardhana Reddy in connection with a criminal case against him. The Sandur Judicial First Class Magistrate (JMFC) K Amarnath issued the NBW on December 30 and posted the case for hearing to February 3.
Kerala Tourism has launched an online training programme to help travel agents and tour operators in the UK get acquainted with the state’s tourism products and in turn increase UK sales to Kerala.
For promoting a planned and healthy real estate development of colonies and apartments in big cities, Union Housing and Urban Poverty Alleviation Ministry has drafted a bill and invited suggestions from experts.
UTV Motion Pictures, an arm of UTV Software Communications, has signed a series of non-exclusive television rights syndication deals amounting to Rs 95 crore. The deals are across their slate of 2008 and 2009 productions, from Oye Lucky! Lucky Oye! and Dev D to recent hits like Kaminey, Wake Up Sid and Kurbaan.
When the IIMs decided to award the contract to Prometric for conducting the Common Admission Test (CAT) online, and Pearson bringing its assessment brand to India, it must have been a wake up call for MeritTrac, a large assessment company. But, the company is not losing sleep.
Over 2.4 lakh aspirants will vie for entry to the prestigious Indian Institutes of Managements (IIMs), the Common Admission Test (CAT) for which will be computer-based for the first time this year.
The echo of India’s controversial Rs 10,000-crore Barak surface-to-air missile deal with Israel is being heard in faraway London. According to a leading London newspaper, “One of the Liberal Democrats’ most generous donors has been accused of accepting tens of millions of pounds in kickbacks from an arms deal between an Israeli company and the Indian Government …” The newspaper quotes Indian sources to say the payments were disguised as ‘business charges’ since India officially prohibits the use of middlemen in defence deals.
The Centre plans to allow the (for-profit) private sector to set up educational institutions and tap the capital market, thus aiming to plug the funding gap in the education sector. In this regard, the Human Resource Development (HRD) ministry has asked Max India Chairman Analjit Singh to prepare a feasibility paper.
Sunil Jain / New Delhi November 17, 2009, 0:41 IST
Liquor baron Vijay Mallya today said his UB Group will overtake Diageo as the world"s largest spirits maker by the next fiscal.
Jaiprakash Associates today said its shareholders have approved an additional investment of Rs 200 crore in the company"s two subsidiaries.
Liquor manufacturer Radico Khaitan today said it will seek shareholders approval for raising Rs 375 crore by share sale from domestic and international markets.
Accepting that monsoon has been inadequate in several parts of northern India, the government today said that in case sowing failed due to lack of rains, it would make additional seeds available to the states.
Vijay Mallya-promoted Kingfisher Airlines has the dubious distinction of having the maximum cases of pilots found under the influence of alcohol before take-off.
The NSE Nifty today opened flat at 4,501, and touched a high of 4,524 before slipping into the negative zone. Post-noon trades, the index slipped deeper into red to a low of 4,436 - down 88 points from the day"s high owing to profit-taking in IT stocks.
Air India is to again start the process of negotiations on productivity-linked incentives (PLI) in pay with the staff unions. Earlier meetings held to agree on an amount to cut from salaries have not yielded satisfactory results.
Asian stocks rose, lifting the MSCI Asia Pacific Index to a two-week high, on speculation the Bank of Japan would enact measures to limit the yen’s gains, and as Chinese manufacturing grew at the fastest pace in five years.
TECH TONIC
The Ministry of Shipping is nearly doubling the initial cost estimates of the controversial Sethusamudram Ship Channel Project, which aims to dredge a navigable channel through the Palk Strait between India and Sri Lanka.
If 2009 was a year when three of the country’s largest private sector financial services groups saw new faces at the top, next year could see over a dozen new faces lead state-owned financial sector entities.
Wipro today inked a new partnership with Symantec Corporation to provide data back up and loss prevention, in addition to recovery infrastructure consultancy services.
Sudheer Pal Singh & Jyoti Mukul / September 30, 2009, 0:41 IST
Low volumes of the "common man"s car", expected to encourage people to buy a brand new car instead of an used one, has, however, put prices in the used car market back on track.
Finance Minister Pranab Mulkerjee today said a balance has to be stuck on the issue of continuity of the stimulus packages.
This is one luxury Bangalore can afford not to have. The city is set to add the highest number of “keys” in the upscale rooms category at a time when demand is not so certain.
The Supreme Court has issued notices to 23 states and three UTs on a petition by Tata Motors seeking quashing of the Central Sales Tax Appellate Authority"s decision asking it to pay Central Sales Tax to the tune of around Rs 14 crore on sale of bus chassis to the Andhra Pradesh government.
IT services company Solutions Enterprise Pvt Ltd’s offices in Mumbai and Ahmedabad used to be connected with its partner companies in Britain over the Internet and a virtual private network (VPN). However, the quality of communication had always been poor.
Cisco Systems Inc, the world’s largest maker of networking equipment, agreed to buy Tandberg ASA for 17.2 billion kroner ($2.97 billion), to expand its lineup of video-conferencing products.
Biofuels have a limited role in India due to land limitation and food security issues, Environment Minister Jairam Ramesh said today, a view which differs from the official line pushing for a 20 per cent blend of such fuel in gasoline and diesel by 2017.
Jyoti Parikh & Kirit Parikh / New Delhi November 22, 2009, 0:08 IST
Accusing Pakistan of not doing enough to bring to book the perpetrators of the 26/11 Mumbai terror attacks, Prime Minister Manmohan Singh has said India does not know whom to deal with in Islamabad as the army is the most powerful force in the neighbouring country.
Business Standard / New Delhi November 22, 2009, 0:05 IST
Viceroy Hotels ended at Rs 54, higher by Rs 1 or 2.6%, on the BSE.
United Spirits Ltd (USL), the flagship spirits arm of the UB Group, is looking at a bond offering within the next six months in an effort to refinance Rs 3,000 crore of debt.
The benchmark indices rose for the second straight day today with S&P CNX Nifty closing at a 22-month high of 5,278. Nifty January futures closed at a premium to the spot and added 1.05 million shares in open interest through buy-side trades, indicating fresh long build-up. However, the Nifty remained range-bound after opening at higher levels.
Tata Motors today lined up a slew of new vehicles across categories at the 10th Auto Expo here. These included Tata Aria, Jaguar XJ, Tata Venture, Tata Magic Iris and the ‘Prima’ range of trucks, trailers and special application vehicles.
A day after paceman S Sreesanth was diagnosed with swine flu, comprehensive preventive measures were today put in place to ensure that other members of the Indian cricket team were not affected by the dreaded virus.
Besides stadia, all metro rail links are also likely to be ready for use by Sep 2010
A consortium of Indian and Abu Dhabi investors, which is believed to include steel czar Lakshmi Mittal, is planning to bid for UK property company British Land, says a media report.
The stock could see further re-rating, given that almost every segment has chipped in with better numbers.
Galla Foods Private Limited, owned by the promoter family of industrial and automotive battery manufacturer Amara Raja Group, is targeting to capture 10 per cent share of the fruit drinks market in India in the next five years.
Cellular service provider Tata Teleservices today said it has become the top grosser of subscribers for the third consecutive month, with over 3.8 million new mobile users in October.
The Department of Telecom (DoT) has decided to seek legal opinion in the matter of allotment of additional radio waves beyond 4.4 MHz to mobile operators.
Bajaj Auto is betting big on its Pulsar bike and plans to ramp up production to 90,000 units per month in the next six months with a sales target of 1 million units per annum by the end of next financial year.
A new sports bar in NCR is a nice hangout place but not meant for genuine fans
With the Indian economy showing signs of leaving the recession behind, companies from the US are once again making a beeline to the India shores scouting for opportunities. Companies from varied sectors are looking to test the waters with an investment in mind at a later stage. “Last year, things were rocky and very few trade delegations came to India. However in the last one and half months, things have turned around,”said Sandeep Mehra, committee member, Indo American Chamber of Commerce (IACC), Karnataka branch.
Drug firm Merck today reported a net profit of Rs 11.88 crore for quarter ended on June 30, 2009, a decrease of 34 per cent over the same period last year.
Pennar Industries, a leading player in engineered metal products, has clocked a 24 per cent rise in its first quarter net profit at Rs 38.1 crore as against Rs 30.8 crore in the same period previous year.
The Supreme Court (SC) last week asked the Haryana Financial Corporation to refund the amount received from a buyer of a defaulting unit as it had not disclosed certain vital facts to the buyer. The corporation had forfeited the amount when the buyer withdrew from the contract of sale. The SC stated in the case, Haryana Financial Corporation vs Rajesh Gupta, that a “mere perusal of the provisions of the Transfer of Property Act will show that it was incumbent upon the corporation to disclose to the buyer about the non-existence of an independent passage to the unit. It was also the duty of the corporation to inform the buyer that the passage mentioned in the revenue record was not fit for movement of vehicles. The corporation also failed to show the buyer the entire documentation as required by law.”
The Advocates Association of Bangalore today demanded the transfer of Karnataka High Court chief justice P D Dinakaran who faces an impeachment motion for alleged disproportionate assets and land-grabbing.
The stock erased all its gains and ended flat at Rs 450. The counter clocked volumes of 621 shares as compared to the two-week daily average traded volumes of 278 shares on the BSE.
Car maker Maruti Suzuki India Ltd today reported a 41.56 per cent jump in sales for August at 84,808 units.
Carmaker Fiat India Automobiles today said it will consider raising prices of its products as the margins are under pressure.
With the country’s capacity to manufacture medicines at competitive prices and drugs worth $80 million going off-patents soon, there is a big opportunity for investment in the drug manufacturing sector, Health Minister Ghulam Nabi Azad said today.
The government today informed Supreme Court that it was not for declaring the Ambani family settlement "null and void" as prayed earlier and said that its policies on gas pricing were without prejudice to power utility NTPC"s case against Reliance Industries (RIL).
The Supreme Court today issued notice to the Narendra Modi government on a petition filed by expelled BJP leader Jaswant Singh challenging the order banning his controversial book on Muhammad Ali Jinnah in Gujarat.
Roads construction in the country would require an investment of about Rs 3.5 lakh crore in the next three years, Transport Minister Kamal Nath said today.
Fortis advanced 1.5% to Rs 102. The stock touched an intra-day high of Rs 105 and a low of Rs 101. Around 275,716 shares were traded as against its two-week average traded quantity of 338,454 shares.
Shriram Life Insurance (SLIC) today launched a unit linked premium plan - Shriram Pension Plan which gives clients varied options to invest their money and receive maximum returns post-retirement.
PTC India Ltd, the country’s largest power trading firm, has posted a 76.8 per cent rise in net profit for the quarter ended June 2009 owing to increased trading volume and higher treasury income.
Utility vehicle maker Mahindra & Mahindra (M&M) Ltd is planning to drive on rural markets to push its latest pick up Mahindra Bolero Maxi Truck.
Auto major Mahindra & Mahindra today reported 18.72 per cent growth in its total automotive sales in June at 22,999 units compared with 19,371 units in the corresponding month last year.
Uttar Pradesh has emerged the top producer of mentha oil and peppermint products in the world in the last two years, a major portion of it coming from Kannauj district of the state. Till now, China had remained on the forefront of mentha production in the global market.
This is the third price hike in less than a month; mills will pay Rs 200-205 a quintal.
The stock touched a high of Rs 233 and finally settled 4% higher at Rs 228. The counter clocked volumes of 1.93 million shares on the BSE.
Prospect of the cos continuing their excellent performance attracts investors.
Sugar major Bajaj Hindusthan today said it has fully utilised Rs 710 crore raised by private placement of shares for repayment of its debt in accordance with the terms of the issue.
Balrampur Chini Mills, one of the leading sugar producers of the country, has posted a rise of 193 per cent in its net profit at Rs 42.73 crore for the quarter ended September compared with Rs 14.58 crore in the corresponding quarter last year. The company"s net sales during the quarter, however, decreased around 8 per cent to Rs 378.9 crore from Rs 411.72 crore.
Global lender HSBC is in advanced talks to buy assets of two troubled financial groups — ING and RBS in Asia in a move to expand its base in the region, says a media report.
Carring forward its austerity campaign, the Finance Ministry has asked various departments to scrap or downsize expenses on insignificant activities by up to 10 per cent when they submit proposals for Budget 2010-11.
Oil and Natural Gas Corporation (ONGC) has opposed finance ministry directive of parking its surplus funds with only PSU banks saying it is losing Rs 360 crore of interest revenues annually as state-run banks offer lower interest rates when business is given to them on nomination.
Foreign investment in the Indian stock markets may cross $10 billion-mark by the end of this month as a hefty $9.8 billion (Rs 47,674 crore) have already been poured into the bourses by overseas entities so far this year, analysts feel.
Abhijit Lele / Mumbai November 4, 2009, 0:23 IST
Public sector lender Bank of Maharashtra"s net profit for the July-September quarter stood at Rs 86.68 crore, up 22.86 per cent against Rs 70.55 crore reported over the same period a year back.
The government is mulling imposing anti-dumping duty on imports of acetone, a chemical used in drugs and explosives, to protect domestic players from cheap shipments from Japan and Thailand.
Upon the advice of many people, I liquidated all my investments to book profits by June-end. I was waiting for markets to correct and now I am cursing all those who gave free advice to book profits. My money in a savings bank account is earning 3.5 per cent. Should I invest right now or wait until the bears take over? -Manjunath
I am a retired army pensioner and have deposited all my savings in bank fixed deposits. But I am losing a considerable amount on account of TDS, which the bank deducts on the interest payments. Currently, I want to invest Rs 1 lakh in some debt fund with a horizon period of one year. Please suggest some good mutual funds which can yield more income than bank fixed deposits and be tax friendly. Being retired, I cannot go for equity schemes.
Arnav Pandya / Mumbai September 27, 2009, 0:28 IST
Significant inflows into income plans and liquid funds boosted net assets of domestic mutual funds in July, according to data posted by Securities and Exchange Board of India (Sebi) on its website.
The government has asked the Serious Fraud Investigation Office (SFIO) to discontinue its enquiry into the siphoning of funds by Satyam Computer to avoid duplication of work as the CBI is trailing the funds parked abroad by the IT company.
Financial services major Nomura Holdings has posted a profit of 27.72 billion yen in the second quarter, buoyed by strong growth in retail and asset management segments and expansion of its business overseas.
Public sector lender Bank of Baroda (BoB) today reported a jump of 60 per cent in net profit to Rs 634.18 crore for the second quarter ended September over the corresponding period a year earlier.
Integrated telecommunications service provider Reliance Communications (RCom) has prepaid a term loan of Rs 5,000 crore raised from Indian banks a year earlier. The pre-payment would help the company make interest savings of Rs 700 crore a year.
India Inc today saw signs of turnaround in the economy with the GDP showing a growth of 6.1 per cent in the first quarter of the fiscal 2009-10.
The Sensex ended at 17,088, lower by 31 points and the Nifty shut at 5,102, down 15 points (provisional closing).
A new decade started in the year 2010 will witness a radical re-distribution of forces in the world economy.
Loan sanction limit of a year from Oct.
The policy paper on the proposed Goods and Services Tax (GST) will soon be brought in the public domain.
Vishal Chhabria / Mumbai December 28, 2009, 0:01 IST
Oil and Natural Gas Corp (ONGC) today lost a bid to acquire a large oilfield in Iraq to a consortium of Chinese, Malaysian and French energy firms.
Bharat Petroleum Corporation (BPCL) informed BSE today that BPCL, Oman Oil Company (OOC) and Bharat Oman Refinery (BORL) signed an agreement on November 15, 2009 in Oman on additional investment in BORL by OOC. OOC will invest be Rs 1,220 crore in BORL to hold 26 per cent of the equity share capital of BORL, after full equity closure.
The much awaited Headends in the Sky (HITS) policy cleared by the Union Cabinet today would not only enable a digital delivery platform for cable operators, but will also result in reduction in subscription rates as competition will increase in the distribution sector.
Drug maker Wockhardt today said its shareholders have approved sale of Mother and Child Care and Nutriuno businesses to Abbott Healthcare for Rs 281.6 crore.
After many denials and protracted bargaining with several buyers, pharma major Wockhardt sold 10 of its hospitals to Fortis last week. The hospitals sale came within two months of the company selling its German business Esparma for an undisclosed amount.
In a bid to remove "fly-by-night" players who import electric two wheelers unlike the domestic ones, members of the Society of Manufacturers of Electric Vehicles (SMEV) are seeking stringent norms to be levied for low speed two wheeler electric vehicles from Automotive Research Association of India (ARAI).
Cairn India, which began production from the world class Mangala oilfield in Rajasthan in late August, has reached 1 million barrels of oil output from the nation"s most prolofic onland field.
Erasing its early gains, the rupee was trading 11 paise down at 45.73 against the dollar in late morning deals on good demand from banks for the US currency that was going strong against its other major rivals.
Iran today offered 40 per cent stake in a giant gas field in the Persian Gulf to India"s ONGC Videsh (OVL) and NRI business conglomerate Hindujas, who would split the stake equally.
Samruddhi Cement, a wholly-owned subsidiary of Grasim Industries, is all set to merge with UltraTech Cement – Grasim’s another subsidiary, on July 1, 2010. The merger, to be completed by September 2010, will result into world’s tenth-largest cement maker.
Cairn India, which started pumping crude oil from its Mangala field in Barmer (Rajasthan) this August, has entered into an agreement with Reliance Industries Ltd (RIL) for supplying it to the latter’s Jamnagar refineries. Cairn is likely to supply seven consignments of 200,000 barrels each to RIL during the current financial year, said an informed source. The first consignment will reach Jamnagar by end-November. The company had sold its first cargo of 208,000 barrels to Mangalore Refinery and Petrochemicals last month and it will deliver two more cargoes this month.
Balbir Singh (50) of village Rampura Phool near Bhatinda is a happy man these days. He is getting queries from buyers for his patch of land, on which he has been growing cotton for over 30 years. He found it less remunerative for the past few years and wanted to relocate to some fertile belt of Punjab from the semi-arid belt of Malwa in the state.
India today proposed to invest $6.5 billion to develop gas fields in Iran and sought more liquefied natural gas (LNG) from that country.
Mining, manufacturing grow in double digits.
Oil prices eased in Asian trade today as traders took note of high distillate inventories, which indicated that a global economic recovery was still sluggish, analysts said.
Candidate may not need two-year residual service.
The Foreign Institutional Investors (FIIs) were net buyers of Rs 647.45 crore in futures and options segments on Friday.
Centrally-funded technical Institutions, including IITs and IIMs, are suffering due to about 25 per cent shortage of faculty, the Lok Sabha was told today.
Day one of the final placements at the Indian Institutes of Technology (IITs) has brought the smile back on the faces of students, as big recruiters are back on the campuses. IIT placement representatives say salaries could go up by 30-40 per cent this year.
Glitches continue, lack of feedback still an issue; IIMs assure ‘damage control’.
A committee set by the Petroleum Ministry to probe into the causes of the devastating fire at the IOC depot near here began its inquiry today by visiting the site.
Over 27 per cent of the population in the country were living below poverty line during 2004-05, government said today.
These phones and laptops will make you look like a million bucks.
Sunil Sethi / New Delhi August 22, 2009, 0:04 IST
Mukesh Ambani, India’s richest man and chairman of the country’s largest private sector company, Reliance Industries, has been ranked the fifth-best CEO in the world by Harvard Business Review.
Dish Tv India, an Essel Group Company, reported a net loss of Rs 69.2 crore for the quarter ended June 30. 2009. Its net sales have gone up from Rs 246.3 crore from Rs 164.5 crore.
The Videocon Group’s move to set up a 3-million-tonne-per-annum steel plant and a 1,200-Mw power project over a patch of coal-bearing area at Jamuria, near Asansol (West Bengal), has been opposed by state-owned Coal India Limited (CIL), the world’s single-largest coal miner.
Debt sold by Citigroup Inc, Goldman Sachs Group Inc and JPMorgan Chase & Co is among the $450 billion of securities that Moody’s Investors Service said it may downgrade.
The largest private sector lender ICICI Bank can soon operate as a local bank in Singapore, following an in-principal approval from the city-state.
Amid fierce competition with per second tariff pulse, which is affecting their top line, the mobile operators are now focusing on value added services, such as, callertunes, ringtones and others to make up for the depleting revenues.
Companies in dire straits often roll the dice in a bid to stave off bankruptcy. The problem is that last-ditch efforts to raise new funds or restructure often come at the expense of bondholders. Struggling companies, their advisers and lenders should think twice about such strategies after an almost $700-million judgment last month against Citigroup Inc, Bank of America Corp, Wells Fargo & Co and other lenders, in connection with the bankruptcy of home builder Tousa Inc.
The aluminium major National Aluminium Company Limited (Nalco) and the state owned Nuclear Power Corporation of India Limited (NPCIL) have signed a memorandum of understanding (MoU) for collaboration with each other for setting up nuclear power plants in the country.
Post Copenhagen, Indian exporters are more likely to face non-tariff barriers on the grounds of environment. The commerce ministry needs to identify potential areas of conflicts and put in place a mechanism to respond to them.
Indian civil society organisations have opposed a reported move by global drug procurement agency UNITAID to exclude countries such as China, Brazil and India from a proposed patent pool for AIDS drugs.
M J Antony / New Delhi December 16, 2009, 0:59 IST
Indian consumer durables major Videocon Industries has decided to buy Finnish company Elcoteq, engaged in contract manufacturing of mobile phones and other electronic items, in a deal estimated at around $73 million.
The rupee today appreciated by 15 paise to 46.09 a dollar in early trade on sustained capital inflows into stock markets.
All-weather roads in the villages of the country has doubled the income of rural households, raised literacy rate by 10 per cent, and appreciated land prices by up to 80 per cent, says the World Bank. “In 2000, about 40 per cent of India’s 825,000 villages lacked all-weather roads ...with access to roads, incomes have soared.
HCL Technologies has emerged as the best managed entity in the list of top 50 global outsourcing vendors for 2009 compiled by the Black Book of Outsourcing, which also features atleast eight other Indian IT services firms.
The Uttar Pradesh government is setting up a silk exchange in Varanasi district to boost the sector in the backward Purvanchal region.
When telecom executives went into a meeting with Communications Minister A Raja on Tuesday evening inside the peeling walls of Sanchar Bhawan in New Delhi, they may have believed that things were so bad they could not get any worse. They were wrong. The highlight of the meeting was Raja asking mobile telephony operators to reduce termination charges, the money that an operator pays another to whose network the call is made.
Finance Minister Pranab Mukherjee has said that India will not be able to sustain high fiscal deficit in the long run, but he did not give any timeframe for withdrawing the stimulus measures that inflated the deficit.
Starbucks Corp Chief Executive Officer Howard Schultz is shifting the coffee seller’s focus from cost cutting to growth by promoting new products, including Via instant coffee and its Seattle’s Best Coffee brand.
Anil Ambani group firm Reliance Power (R-Power) today claimed that the Allahabad High Court has not set aside land acquisition for its proposed gas-fired power plant at Dadri in Uttar Pradesh.
Contract research services provider, GVK Biosciences today said it has entered into a strategic partnership with US-based Quantitative Solutions (QS) to develop and market clinical trial outcome data base.