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Bangladesh Prime Minister Sheikh Hasina today left for Kolkata along with several Cabinet ministers to attend the funeral of Marxist patriarch Jyoti Basu.
The markets have extended losses in the last few minutes. The Sensex is now down 54 points at 17,561. The Nifty is down 15 points at 5,248.
Aditi Phadnis / New Delhi November 28, 2009, 0:00 IST
Nifty ends below 5,000 as players square up pending futures positions.
Ashish Sinha / New Delhi August 25, 2009, 0:40 IST
Following the Insurance Regulatory Development Authority’s (Irda’s) cap on insurance charges, Life Insurance Corporation (LIC) is looking at measures like increasing the minimum premium and lock-in period, and rejigging other expenses such as fund management charges, for unit-linked insurance plans (Ulips).
Ten years ago, a survey had projected that the life insurance industry would see its premium income grow at a compounded annual growth rate (CAGR) of 18.9 per cent.
JSW Energy Ltd, part of the Sajjan Jindal-promoted Jindal South West Group (JSW), has sought alternative land from the Gujarat government to shift its power project from Junagadh in the west to the port town of Dahej in south Gujarat.
With Indian Railways having developed two automobile wagon rakes (trains), with a holding capacity of almost 550 cars each for transport of vehicles from sites closer to their manufacturing bases to their final destination, auto manufacturers say they look forward to increasingly using this form of transport for their products.
Contrary to popular perception on interest rate movement, expected to head north following a likely central bank action on monetary tightening, banks may actually end by cutting rates in the below-prime lending rate region for at least their corporate clients.
Corporate Affairs Minister Salman Khurshid"s idea of trimming "vulgar" salaries of CEOs received support from within the government, but the industry warned that any regulation would lead to flight of talent.
Despite the heaviest flood in river Krishna in more than 100 years -- with 10 lakh cusecs gushing in at a menacing pace -- people in many villages are still reluctant to move to safer places.
In a well-researched book, Shoma Munshi argues that the bahu-soaps, far from being regressive, had strong women protagonists.
Parliament today remembered those killed in the terror strike in Mumbai on this day last year with the Lok Sabha resolving to unitedly fight and defeat the forces of terrorism which pose the "gravest threat to humanity".
Road Transport and Highways Minister Kamal Nath said here that India has achieved construction of nine-km roads per day and the target of developing 20-km daily would be accomplished by this April.
BJP to announce decision today after legislative party meet
With trends throwing up a hung Assembly in Jharkhand, Congress today said people expect its secular alliance to form a government in the state as they have elected them as the largest group.
The government may not have come out clearly on introduction of the proposed indirect tax structure GST but the lack of preparedness for the new tax regime hints at a possible delay by up to a year.
Hindalco Industries, India’s largest aluminium maker, plans to sell shares to institutional investors at Rs 130.90 each to raise Rs 2,900 crore this week. The board of directors met here today to fulfill the formalities before the issue is opened.
Finding the economy and markets back on the recovery path, more than 60 companies are looking to raise an estimated Rs 50,000 crore through sale of shares and awaiting the regulatory nod for the same.
Sreelatha Menon / New Delhi December 06, 2009, 0:25 IST
Over 50 per cent of the electorate cast their votes in the fourth phase of the assembly polls in 14 Maoist-affected constituencies in Jharkhand, which passed off peacefully today amid tight security.
Indian diplomats are expected to meet Australian officials in a bid to difuse diplomatic tension between Canberra and New Delhi after the murder of 21-year-old Indian migrant in Melbourne.
Australian authorities today "unreservedly" condemned the killing of an Indian youth here calling his stabbing a heinous crime even as police claimed there was no evidence to suggest that it was a racial attack.
In a key fallout of the global economic crisis, which gathered steam with the collapse of the Lehman Brothers exactly a year ago, countries will now be more cautious amid the ballooning government debt across economies.
Australia today said it will cooperate with the family of Nitin Garg, the Indian youth killed here, and expedite the process of returning his body back home, terming the delay in the process as "unfortunate".
Leading Indian rock bands will perform today in New Delhi for spreading awareness about climate change
T N Ninan / New Delhi January 9, 2010, 0:37 IST
The government today said Hindustan Copper would ramp up production to 11 million tonnes per annum by 2017 with an investment of Rs 3,500 crore.
A year or two ago Gore Vidal was expected at the Jaipur Literature Festival, and was scheduled to make one appearance in Delhi. I was all ready to arrive early and stick my hand out to have it shaken by the master. There must have been many others with similar aspirations. But in the event Gore cancelled his trip to India.
Gears up to launch stock, commodity futures in three years.
The National Commodity & Derivatives Exchange (NCDEX), the second largest commodity futures trading platform in the country, is launching trading in groundnut (in shell) – Bikaner futures contract on July 10, 2009. These contracts would be available in addition to the existing groundnut (in shell) – Junagadh base contract.
Alfa Laval India, the Indian arm of Swedish Alfa Laval Group, has secured a Rs 70-crore project from Vietnam-based PetroVietnam Group for supplying equipment and engineering solutions for the latter"s ethanol process plant.
The Organisation for Economic Cooperation and Development (OECD) today lauded India"s overseas investment policies but asked for relaxation in foreign direct investments (FDI) norms for banking and insurance sector.
The global economic recovery augurs well for domestic companies having a large exposure to overseas markets.
Jagdish Khattar-promoted Carnation, a multi-brand car sales and servicing network, and the Dilip Chhabria-owned car design boutique DC Design have entered into a joint venture that will help the design studio offer its services to the mass segment at lower price points. Before this, DC’s services were restricted to high networth clients.
India"s economy is expected to grow between 5.2 per cent and 5.8 per cent in 2009-10, much lower than last year as the agriculture output is estimated to decline significantly because of drought in 276 districts of the country, an industry paper said.
In signs of easing labour market situation in the US, the number of first time claimants for jobless benefits declined by 26,000 to 550,000 for the week ended September 5.
India will be the third largest economy in the world after China and United States by 2050, a US-based internationally recognised foreign-policy think tank has said.
SRF Ltd has commissioned its project for manufacturing polyester industrial yarn at its Gummidipoondi plant in Tamil Nadu. The project has a capacity of 14,500 tonnes per annum and had been set up at a cost of around Rs 186 crore, it said in a filing to the Bombay Stock Exchange.
SRF, a diversified company active in textiles, refrigerant gases, packing films and pharmaceutical intermediates, has said that it will consider a proposal to buy back the fully paid equity shares of the company in the forthcoming board meeting next week.
Global pharma major Pfizer is to source source 40 off-patent (generic) cancer care products from Bangalore-based Strides Arcolab and sell the products in the United States.
Mukesh Ambani-led Reliance Industries (RIL) today raised Rs 2,675 crore by selling a part of its treasury stock to Life Insurance Corporation of India (LIC), to create a war chest to acquire the bankrupt chemicals giant LyondellBasell.
Gretchen Peters’ Seeds of Terror: The Taliban, the ISI and New Opium Wars (Thomas Dunne Books, Hachette India reprint, Rs 495) tells you why Afghanistan and Pakistan’s North West Frontier provinces will always be on the boil that will spread into the Punjab and increase in intensity, as recent events have shown. Aided and abetted by rampant corruption spread by poppy growers to the Taliban and other local powers, to drug lords and their allies in government, the influence of opium money pervades Afghan life. Afghanistan today provides 93 per cent of the world’s heroin, far exceeding the combined production of Colombia, north Myanmar, Thailand and other regions of the world. Peters examines the depth of the opium problem and describes how opium sales have ballooned since 2001 and continue to grow exponentially, earning more than half a billion dollars off the opium trade. Why and what could be the consequences for us is the central question asked in the book.
Global coffee production during the 2009-10 crop year may dip below last year"s level of 128.1 million bags due to bad weather in top three growing countries — Brazil, Vietnam and Colombia, according to the International Coffee Organisation (ICO).
The Centre is likely to increase the debt relief package for coffee growers to Rs 802 crore, 58 per cent more than the recommendations of Coffee Board, Union minister of law and justice, M Veerappa Moily said.
India’s cotton exports are likely to rebound to 1.4 million tonnes in 2009-10 (October-September) at the cost of exports from the US, which are forecast to fall 20 per cent to 2.3 million tonne on year, according to International Cotton Advisory Committee (ICAC).
The Reserve Bank of India (RBI) on Friday said it would ask banks to furnish details of their direct and indirect exposure to Dubai World, the beleaguered Dubai government-owned holding company which asked for more time to repay its debt.
Oman Oil Company (OOC) has paid a full 50 per cent premium for a re-entry into the Rs 11,397-crore Bina Refinery project of the state-run Bharat Petroleum Corporation (BPCL).
State-run power producer NTPC today signed agreements with GAIL, Indian Oil Corp (IOC) and Bharat Petroleum Corp (BPCL) for sourcing gas for its power project at Kayamkulam in Kerala.
The Indian bourses ended in the green, aided by rising FMCG, oil and public sector undertakings’ (PSUs) stocks.
The government today said creation of jobs for women under the state-sponsored schemes fell to 72,701 in 2008-09 from 3,62,918 in 2007-08.
Railway Minister and Trinamool Congress chief Mamata Banerjee today hit her predecessor Lalu Prasad where it hurt him most—on the supposed turnaround of Indian Railways during Prasad’s regime.
A contentious statement on Indian poverty, put out some years ago by Arjun Sengupta, said that 78 per cent of Indians lived on less than Rs 20 a day. That figure always looked problematic, but has become a favourite statistical weapon in the hands of the Left. So it is just as well that the Suresh Tendulkar report on poverty has effectively nailed that number. The Tendulkar report says that 25.7 per cent of urban residents are below the new definition of the poverty line, because they spend less than Rs 578.80 per month. That is Rs 19/day, close to the Sengupta benchmark. Given the urban-rural mix of 28:72, if the Sengupta claim of 78 per cent for the country as a whole (urban and rural) is correct, then 92 per cent of all rural residents would have to be consuming less than Rs 20/day.
Indian pharma industry found that it had no medicine to cure adversities that came its way in 2009 -- when it battled shipment seizures by EU authorities, tightened US regulations, Chinese drug piracy and currency fluctuations.
Several mines exploded along the Line of Control (LoC) when a fire broke out in the area, defence officials said today.
Second-largest shareholder Templeton seeks management change, to vote against directors.
US President Barack Obama says he is eagerly awaiting to host Manmohan Singh for the first State Visit next month and that he considers India and the Prime Minister as “part of his family”.
Eight out of top-10 firms managed to add over Rs 22,000 crore to their market capitalisation (m-cap) in the holiday-truncated past week, with NTPC contributing a major chunk to the kitty.
KEC International, a part of the Rs 15,000 crore RPG group has won orders in Algeria and Abu Dhabi worth Rs 474 crore and Rs 76 crore respectively. KEC will undertake five turn key projects worth Rs 474 crore for CEEG spa in Algeria. The total length of these five projects is 858 km and completion period ranges from 12 to 18 months.
How the cash & carry retailer runs its business
Car maker Premier Limited (formerly Premier Automobiles Limited) re-entered the Indian passenger vehicle market with the launch of its compact sports utility vehicle (SUV) ‘Rio’ on Thursday. The new vehicle, which seats five people, aims to cater to the segment between mid-size passenger cars and larger utility vehicles.
Market surprised by sharper-than-expected drop.
For the Americans (and some Europeans) it’s “that pesky section”. And the US government is throwing its weight behind an industry campaign to discredit this section if not get it removed from India’s Patent Act. Yes, of course, it is Section 3(d) that is under attack from big pharma which has lost no opportunity in pointing out that this law will stifle the growth of India’s own drug companies and also choke off foreign investment in the sector. In recent weeks, this campaign has picked up in tempo both here and abroad.
Before Uttam Kumar Reddy, Congress MLA from Huzurnagar (Telangana), left Hyderabad yesterday for Delhi to prepare himself for the all party meeting convened by Home Minister P Chidambaram on statehood for Telangana, he called upon the students who were agitating in Osmania University to hear what he already knew: laathi goli khayenge; Telangana le jayenge. Emotions ran high. The students asked: “those of you who are ready to be killed for a separate state, raise your hands” most of the 500,000-strong crowd raised its hands. “Those of you who are ready to kill for Telangana, raise your hands” was the next question. The same number of hands were raised again. Reddy heard the students and then boarded his Delhi-bound flight.
TRS chief K Chandrasekhar Rao was today discharged from a hospital here after being admitted for 13 days during his fast for a separate Telangana state.
Over Rs 30 crore worth of business has been affected in this major textile town in Tamil Nadu due to the "unrest" in Andhra Pradesh for the past 12 days and non-operation of lorries to that state, R S Natarasa Mudaliar, President, Erode Handloom Cloth Merchants Association said today.
TRS supremo K Chandrasekhar Rao today threw the ball in Centre"s court on the creation of a separate Telangana state and insisted that Hyderabad will be the capital of the proposed state.
Pharma major Wockhardt today said it has completed the sell-off process of its animal health division to France-based Vetoquinol SA.
PSL zoomed 11.5% to settle at Rs 142. The counter finally witnessed a four-fold increase in its traded volume of 767,408 shares as against its two-week average traded quantity of 198,622 shares.
Bharati Shipyard, the Mumbai-based ship builder that has announced an open offer for an additional 20 per cent stake in Great Offshore, said it was expecting approval for its offer in the next 10 days from the Securities and Exchange Board of India.
Market-regulator, Securities and Exchange Board of India (Sebi) wants listed Indian entities to disclose sufficient information to the market to ensure transparency in their functioning.
Glenmark Pharmaceuticals has raised Rs 413 crore through its recently concluded Qualified Institutional Placement (QIP), which will be used towards its debt reduction plan, a top company official said.
Eleven Congress MPs from Telangana today decided to resign from the House in protest against the Centre"s decision that appeared to put the separate state issue on the backburner.
The Indo-US strategic relations deepened further in 2009 which saw installation of Barack Obama as the first black President, who attached high importance to bilateral ties and invited Prime Minister Manmohan Singh as his first State Guest.
West Bengal Chief Minister Buddhadeb Bhattacharjee on Saturday discussed with Prime Minister Manmohan Singh the law and order including Naxalite violence in the state. Some of the developmental issues also came up for discussion during the 30 minutes meeting Bhattacharjee had with the Prime Minister.
Rising prices, high production deficit led to better profits.
Special Economic Zones are nothing but special exemption zones and there is no reason to exempt these from all law. Hence, scrap these, is the recommendation of the Committee on Land Reforms and Agrarian Relations set up by the Union government to advise it on issues ranging from land reforms and land acquisition to measures to stop conversion of farm lands.
Only public sector player to have performance-linked salary
The Kerala High Court today adjourned a petition filed by Subramanian Swamy, a former Union minister, against the proposed commencement of an Islamic bank with state participation. A bench of Chief Justice S R Bannurmath and A K Basheer adjourned the case for january 5, for a detailed hearing.
The Mukesh Ambani-led Reliance Industries (RIL) is not responding positively in connection with the contract awarded to it for revival of the closed sugar mill at Motipur in Bihar"s Muzaffapur district, according to state Industry minister Gautam Singh.
Mahindra Satyam, the new brand identity of Satyam Computer Services, a leading global consulting and IT services provider, has selected Malaysia to kick off international expansion - enlarged its global solution center operations in 15 acre campus in Cyberjaya, the company said in a BSE filing.
After a year long slump due to global meltdown, first year students of elite B-schools are back in the radar of companies in finance and banking sectors which are now hiring them for summer internship programmes.
Evincing interest to participate in India’s urban development process, multilateral lending agency World Bank has initiated a dialogue with the urban development ministry to provide a loan assistance of $5 billion to develop Indian cities, a top official said.
Facing allegations of irregularities in spectrum allotment, Telecom Minister A Raja today hit out at the BJP saying free distribution of radio frequency among operators during the NDA regime may have cost the country over Rs 1.6 lakh crore.
The state-run power major NTPC today said it will invest about Rs 3,000 crore in solar energy to add over 300 Mw of generation capacity by March 2014.
Even as the Telangana Sadhana Joint Action Committee (JAC) is all set to enforce a bandh tomorrow pressing for a separate statehood to Telangana, the students at Osmania University have ‘urged’ the people to boycott New Year celebrations in support of separate state.
Amid allegations of black money being stashed in Swiss banks, India and Switzerland have advanced their talks on amending the taxation treaty by a month to the second week of November.
Finance Minister Pranab Mukherjee today did not rule out the possibility of delay in introduction of the Goods and Services Tax (GST) from scheduled date of April 1, 2010.
Yeddyurappa will lead delegation to meet PM.
Citigroup Inc and JPMorgan Chase & Co are hoarding cash as if another crisis were on the way. Citigroup has almost doubled its cash to $244.2 billion in the year since Lehman Brothers Holdings Inc. filed for bankruptcy, the biggest such stockpile of any US bank.
Will take into account the changed needs of both countries.
Shyam Ponappa / New Delhi December 3, 2009, 1:35 IST
A high level committee appointed by the IIT Council will revisit the fee structure as part of its mandate to assess how the revenue could be increased for the premier institutes.
Competing with Vedanta Resources, Grupo Mexico has come up with a $1.6 billion reorganisation programme for regaining control of its bankrupt firm, Asarco.
Hoping to get the US government"s nod to go ahead with its business in India, GE Hitachi has begun talks with domestic companies like BHEL, Bharat Forge and Larsen & Toubro for making atomic power equipment.
With no clarity on availability of third-generation (3G) mobile spectrum, the government is considering, among others, restricting the number of private players to just two to avoid a situation where it would need to pay damages to operators.
The Delhi High Court today issued notice to veteran politician and former Andhra Pradesh Governor N D Tiwari on a paternity suit filed by a youth claiming to be his biological son.
Tata Group Chairman Ratan Tata today said that deadline for his retirement was still intact, but before hanging his boots he would like to find a successor.
Tata Motors today previewed "Aria", a cross-over between a multi-utility (MUV) and sports utility vehicle (SUV), at the Auto Expo here and billed it as a four-wheeler built for Indians by Indian engineers.
Martin Feldstein / January 2, 2010, 0:55 IST
Food inflation, as measured by the Wholesale Price Index (WPI), rose to 19.83 per cent for the week ended December 19 primarily due to rising prices of potatoes, pulses and other vegetables. Food inflation stood at 18.65 per cent for the previous week ended December 12 and at 9.38 per cent during the corresponding period in 2008.
Pakistan"s intelligence agency ISI was behind the attack on the Indian embassy in Kabul which killed 17 people and wounded more than 60 others, Afghan envoy to the US has claimed.
Swaraj Baggonkar / Mumbai January 6, 2010, 0:14 IST
Last decade’s unthinkables become this decade’s symbols.
Sreelatha Menon / New Delhi October 25, 2009, 0:03 IST
Bengaluru International Airport today reported that passenger traffic would top 9.3 million in the calendar year 2009 with cargo handled during the 12 months estimated at 1,61,896 tons.
Normal life was disrupted in non-Telangana regions of Andhra Pradesh, as the bandh called by the All party Joint Action Committee (JAC) in support of United Andhra Pradesh began today.
The government is to shortly consider the recommendation to sell three units of Burn Standard Company Ltd, an ailing public sector undertaking.
National Trust’s insurance scheme and a legal guardian programme gives hope to millions for parents who worry about the future of their mentally-disabled children.
Welcoming New Delhi"s announcement of reduction in emission intensity, a top US Senator has said that India"s proposal in this regard "with respect to accountability" is better than that of China.
Shanthie Mariet D`Souza / New Delhi October 30, 2009, 0:53 IST
US markets ended flat on Wednesday. The Dow ended at 10,574. The Nasdaq slipped eight points to 2,301.
ArcelorMittal’s open offer to acquire a 29.39 percent stake in Uttam Galva Steels will begin on December 19. The open offer will close on January 7, SBI Capital Markets said in a statement to the Bombay Stock Exchange.
Steel Minister Virbhadra Singh today said that the government has given the nod for divesting an additional 8.38 per cent stake in iron ore producer NMDC, a move which may fetch the exchequer over Rs 13,500 crore.
Improved economic conditions globally helped the Tata-owned, British-based, brands Jaguar and Land Rover (JLR) post 30 per cent growth in November, selling 18,825 units compared with the same month last year.
The Reserve Bank of India (RBI) today said that foreign institutional investors (FIIs) would be allowed to buy more shares of Maruti Suzuki but only after obtaining approval from the central bank.
Finance Minister Pranab Mukherjee will kick-start the pre-Budget consultations on January 5, with industry leaders getting the first opportunity to present him their wish-list that includes continuation of stimulus.
Bike maker Royal Enfield, a part of Eicher Motors, today said it will shift entire production to a new engine platform from April this year to make products compliant to stricter emission norms "Bharat Stage III".
Lanco group, through its newly formed special purpose vehicle Lanco Solar is planning to invest close to Rs 4,000 crore for setting up solar projects in the state.
Digital imaging firm Canon today said it targets a 10 per cent market share in the security surveillance camera segment by December 2010.
Leading steel maker JSW Steel today cut prices of its products by up to Rs 1,400 a tonne, mainly due to the softening global trend.
The domestic forging industry today termed the increase in steel prices as "unjustified" and said such hikes can push the equipment manufacturers into losses.
Gujarat’s Ahmedabad Stock Exchange (ASE) plans to tie up with the country’s top equity bourse, the National Stock Exchange (NSE), say sources within ASE.
The government has warned steel makers JSW Steel, Bhushan Power & Steel and Jai Balaji of action if they do not "take steps" to develop the captive mine jointly alloted to them in Jharkhand.
The government today said it is considering a 20 per cent stake sale in steel major SAIL, proceeds of which would partly fund the company"s Rs 70,000-crore expansion projects.
State-owned mining company NMDC Limited and Steel Authority of India (SAIL) will jointly develop a limestone project at Arki in Himachal Pradesh with a three-million tonne per annum capacity.
The government is likely to raise around Rs 32,000 crore from disinvestment in NMDC and Steel Authority of India Ltd (SAIL).
State-owned BSNL today justified the disqualification of Nokia Siemens Networks (NSN) from the mega 93-million GSM line expansion, saying the Finnish company did not provide specification with regard to subscriber information (known as Home Location Register) as per the PSU’s requirement.
Spot the odd one out: ICBC, CCB, HSBC, BOC. The four big banks operating in China may have similar sounding initialisms, but one of them – HSBC – isn’t Chinese at all. The UK-based lender, listed in London and Hong Kong, sees itself as stateless. But its national agnosticism may be getting harder to sustain.
The Indian School of Business (ISB) is creating a capital network to provide seed money to prospective entrepreneurs. The institute will also help entrepreneurs in refining their ideas and business plans.
Buoyed by the diplomatic success of former US president Bill Clinton in securing the release of two American journalists from North Korea, a top Senator has asked Pyongyang and Washington to now resume dialogue on the denuclearisation of the Korean Peninsula.
With India having reservations on putting a cap on emissions, the United States today said it is willing to have discussions on climate change rather than dictating terms.
Fiat group company Magneti Marelli today said it aims to clock $100-million sales in the next three years India by increasing its customer base and services in the country.
Pitching for continuance of the stimulus packages, Planning Commission Deputy Chairman Montek Singh Ahluwalia today said the concessions given to the industry to combat global financial meltdown need to remain till the economy achieves 7 per cent growth rate.
Seventeen industrial proposals with a proposed investment of Rs 419 crore have been cleared by the Himachal Pradesh government. They also include a Rs 250-crore Nestle food processing unit.
New date for introduction of tax likely today.
Usha Martin Ltd has been issued 44,317 carbon credits for its Clean Development Mechanism projects by UN Framework Convention on Climate Change, data from the regulator showed today.
Government-owned Punjab National Bank (PNB) has halved the penalty for premature withdrawal of deposits – a move aimed at attracting more depositors at a time when the medium-term outlook on interest rates is uncertain.
The government is planning to bid out six mega road projects entailing a total investment of Rs 30,000 crore across the country.
Minister for Environment and Forests Jairam Ramesh’s ambitious plan to redesign the institutions of environmental governance has come up against serious resistance from environmental experts who say the concept does not address fundamental problems. Most have given it the thumbs down.
The government has approved 17 foreign direct investment (FDI) proposals worth Rs 4,551 crore, including that of the Federal Agency for State Property Management of the Russian Federation to buy 20 per cent stake in telecom service provider Sistema-Shyam for Rs 3,051 crore.
The economic slowdown might have squeezed credit flow, but primary market remained robust in 2009, with 21 companies mopping up an average of over Rs 900 crore.
Buoyed by the healthy growth in advance tax collection, the government today said the revenue realisation during the current fiscal may exceed the budgetary target notwithstanding low indirect tax collection.
Byravee Iyer / Mumbai January 5, 2010, 0:31 IST
State-run BHEL today said it has bagged another Rs 640-crore order from Adhunik Power and Natural Resources for supplying equipment for the company"s thermal power project in Jharkhand.
Baltic Dry Index touched 4,381 on Tuesday, a 14-month high.
Shipping Corporation of India (SCI) has entered into an agreement with Geneva-based Mediterranean Shipping Company (MSC) to run its European service.
The Baltic Dry Index, a measure of shipping costs for commodities, had its worst week since October as Chinese demand for shipments of coal and iron ore slowed.
Piramal Life Sciences, a research and development (R&D) arm of Piramal Group is investing Rs 200 crore in the next two year"s period for its ambitious programme to discover and develop new chemical entitities (NCEs) and Novel Drug Delivery Systems (NDDSs), a top company official said here.
The Indian Auto Gas company, engaged in distributing LPG for automobiles, plans to set up 1,000 gas filling stations across the country over a three-year period at a cost of Rs 700 crore, a top company official said.
Emerging-market stock funds lost $1.87 billion in the week ended June 24, the first week of net outflows since early March, on concern that a rebound in exports will be delayed, EPFR Global said.
Paving way for its disinvestment, the country"s largest coal miner, Coal India, will soon become a "Public Ltd" company from a private one at present.
At a time when the finance ministry is abuzz with talks of divestment, the existing disinvestment corpus -- the National Investment Fund (NIF) -- has managed to give only single-digit returns.
The Government today said it has no plans to sell more stake in aluminum producer National Aluminum Company (Nalco).
The Union Mines Ministry has offered all help to the Karnataka government, including a Central Bureau Investigation (CBI) probe into the reported flouting of mining norms in the state.
To encourage sales of tractors abroad, the government has announced a four per cent duty incentive on export of the vehicle.