- Government wins market trust too The markets cheered the government's victory in Parliament on hopes that reforms would get a push with the Bombay Stock Exchange's (BSE's) benchmark sensitive index (Sensex) gaining the most since March 25 this year to come within striking distance of the 15,000-mark.
- ADAG stocks see powerful surge The government's victory in Parliament on July 22 seems to have had a beneficial effect on companies promoted by the Anil Dhirubhai Ambani Group (ADAG).
- IRDA opposes LIC`s move to nominate `stranger` nominees The Insurance Regulatory Development Authority (Irda) is planning to issue a notice to Life Insurance Corporation of India (LIC) to stop the latter from allowing policy-holders to nominate "strangers" (those who are not close relatives) and religious institutions as beneficiaries of life policy claims.
- Govt plans pre-IPO placement for OIL The government will offload 10 per cent of its shares in Oil India Ltd (OIL), the second-largest government-owned oil producer, to the three oil marketing companies ? Indian Oil Corp, Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp ? as a pre-IPO (Initial Public Offer) placement before OIL's share sale hits the market in October this year, but at a price determined in the public offer, a company official said.
- Govt plans pre-IPO placement for OIL The government will offload 10 per cent of its shares in Oil India Ltd (OIL), the second-largest government-owned oil producer, to the three oil marketing companies ? Indian Oil Corp, Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp ? as a pre-IPO (Initial Public Offer) placement before OIL's share sale hits the market in October this year, but at a price determined in the public offer, a company official said.
- FII-TO-FII: Allahabad Bank traded at 3% discount Trades between FIIs generated a volume of Rs 32 crore on the BSE Wednesday-an decrease of 70.84% from Rs 110 crore clocked on Tuesday.
- UPA looking to push reforms Free from the clutches of the Left parties, Finance Minister P Chidambaram today said the government would try to speed up reforms that could see passage of bills, including the insurance legislation.
- Now, it's US Congress' turn to approve deal As the UPA government won the crucial trust vote, a leading daily here today said the American Congress must find time to say "yes" to the nuclear deal as the US stands to lose economically if India turns to other countries for nuclear fuel and technology.
- N-deal an issue in Delhi Assembly polls: Cong Buoyed by the UPA's victory in Lok Sabha, the ruling party in the Delhi government has got into an election mode with plans to make the nuclear deal as one of the assembly poll planks in the city.
- No cancellation of orders from Indian air-carriers Aircraft manufacturer, Boeing, today said that there were no deferrals or cancellations of orders placed by Indian air-carriers in the wake of the carriers posting losses.
- Maha to witness decline in sugar production The sugar is going leave bitter test in days to come as sugarcane and sugar production in the state are likely to see substantial decline during forthcoming crushing season due to drought like situation in the state.
- Deficient rainfall may affect oilseeds crop Deficient rainfall in 13 out of 36 meteorological divisions of the country has affected the prospects of the kharif crop, particularly in Maharashtra, Karnataka, Madhya Pradesh and Tamil Nadu, a top industry official said.
- Plan to power EU with Saharan sun underway European Union scientists are working on an ambitious plan to harness solar energy under a #37 billion plan to power the EU with the Saharan sun.
- Handset makers to follow global radiation norms Mobile handset importers and local manufacturers will now be asked to adopt international standards with regard to electro magnetic field radiation exposure.
- CPI(M) expels Somnath Chatterjee from party CPI(M) today expelled Lok Sabha Speaker Somnath Chatterjee from the party on the ground of "seriously compromising" its position.
- Rlys to introduce track elctrification at 7.45 mtr Railway electrification of the 45-km Jakhapura-Daitari section of the Khurda Road division of East Coast Railway has brought recognition for India as the first country in the world to have electrification of railway track at a height of 7.45 metres for running of double stack containers goods trains.
- Onco Therapies signs licensing and supply with GSK Onco Therapies Limited (OTL), the joint venture between Strides Arcolab and South Africa-based Aspen Pharmacare Holding, has signed a licensing and supply agreement with GlaxoSmithKline (GSK).
- Zee net up 99% at Rs 161 cr Subhash Chandra promoted Zee Entertainment Enterprises (ZEEL) has posted a 98.76 per cent jump in its net profit for the quarter ending June 30, 2008 to Rs 161 crore versus Rs81 crore posted in the same period, last year.
- Nuke deal to open up 20 bn pound investment Hoping that the UPA government's victory in the trust vote would pave the way for India having "full access" to civilian nuclear fuel and technology, a top British daily today said the Indo-US nuclear deal is expected to unlock a whopping #20 billion investment in the power sector.
- Mamata will have to answer for abstaining: Biman In an apparent reference to Trinamool Congress chief Mamata Banerjee, the CPI-M today said the leader will be answerable to the people for abstaining from the trust vote in Parliament.
- UTI-MNC Fund declares tax-free dividend of 25% UTI-MNC Fund, a mutual fund scheme investing mostly in equities and equity-related instruments of multinational corporations, today announced a dividend of 25 per cent for its investors.
- More tourist spots planned in Andhra Andhra Pradesh will have more destinations for tourists in a couple of years with the state executing 14 Central-assisted tourism projects at a cost of over Rs 150 crore.
- Eco reforms receives a boost with Govt win With the UPA government winning the trust vote by a comfortable margin, economic reforms would receive an impetus, industry officials said.
- Cleartrip launches international travel product Travel portal, Cleartrip, today announced the launch of its international air product, through its partnership with ITA and Abacus, which will help customers to select flights to any destination worldwide.
- Velcan Energy plans 110 Mw hydro power project Velcan Energy, the clean power producer engaged in the construction and operation of renewable power plants in Brazil and India, plans to set up 110 Mw hydro power project over river Baitarani in Orissa.
- Government to move forward on economic reforms Having won the trust vote comprehensively, the government today sounded an upbeat note on the economy, saying it would move forward on implementing pending economic reforms including legislation aimed at increasing the foreign direct investment limit in insurance to 49 per cent, allowing foreign investors in banks higher voting rights and reforming the pension system.
- Government to move forward on economic reforms Having won the trust vote comprehensively, the government today sounded an upbeat note on the economy, saying it would move forward on implementing pending economic reforms including legislation aimed at increasing the foreign direct investment limit in insurance to 49 per cent, allowing foreign investors in banks higher voting rights and reforming the pension system.
- Bribery drama eclipses UPA win The United Progressive Alliance (UPA) government today won the vote of confidence in the Lok Sabha but the government's prestige was badly dented after Bharatiya Janata Party (BJP) MPs alleged that members from the government and its new-found ally, the Samajwadi Party (SP), had offered bribes in return for a pro-government vote.
- Bribery drama eclipses UPA win The United Progressive Alliance (UPA) government today won the vote of confidence in the Lok Sabha but the government's prestige was badly dented after Bharatiya Janata Party (BJP) MPs alleged that members from the government and its new-found ally, the Samajwadi Party (SP), had offered bribes in return for a pro-government vote.
- Travel agents threaten to stop selling airline tickets Major travel agents have threatened to stop selling domestic and international air tickets until airlines agreed to restore commissions that they had said they would scrap starting October 1, citing higher costs and slower growth.
- Householder policy premiums fall 35-50% The next time you buy a householder's insurance policy, you could be paying premiums that are 35 to 50 per cent lower.
- We`ll win easily, says UPA Markedly more relaxed than all of last week, the Congress-led United Progressive Alliance (UPA) today asserted that it had the numbers to clear the trust vote.
- We`ll win easily, says UPA Markedly more relaxed than all of last week, the Congress-led United Progressive Alliance (UPA) today asserted that it had the numbers to clear the trust vote.
- ICAI struggles to call fake CAs to account When P S Shetty, a Mumbai-based chartered accountant, was summoned by the income tax authorities, he was surprised, not only by the call but also the documents shown to him.
- ICAI struggles to call fake CAs to account When P S Shetty, a Mumbai-based chartered accountant, was summoned by the income tax authorities, he was surprised, not only by the call but also the documents shown to him.
- OIL, NHPC to test divestment waters Govt mulls US listing through ADRs. ??The government is fast-tracking the proposal to sell 10 per cent each in two public sector companies ? Oil India Ltd (OIL) and hydro-power generator NHPC Ltd.
- UPA`s survival hangs on seven MPs The trust motion sponsored by the United Progressive Alliance (UPA) on July 21 and 22 threatens to end in a dead heat with only seven MPs standing between the UPA government's survival or fall.
- UPA`s survival hangs on seven MPs The trust motion sponsored by the United Progressive Alliance (UPA) on July 21 and 22 threatens to end in a dead heat with only seven MPs standing between the UPA government's survival or fall.
- Govt to go fast-forward on reforms Prime Minister Manmohan Singh would expedite action on implementing the long-awaited reforms in the banking, insurance and pension sectors once the government managed to win the trust vote in the Lok Sabha on Tuesday, government sources said on Saturday.
- Govt to go fast-forward on reforms Prime Minister Manmohan Singh would expedite action on implementing the long-awaited reforms in the banking, insurance and pension sectors once the government managed to win the trust vote in the Lok Sabha on Tuesday, government sources said on Saturday.
- ADAG sends letter to RIL, may seek damages In what could be a prelude to Reliance Anil Dhirubhai Ambani Group (ADAG) claiming damages against Mukesh Ambani-controlled Reliance Industries (RIL) for allegedly derailing the merger talks with South Africa's MTN group, AAACom (the investment arm of ADAG) has written a letter to RIL claiming that the alleged right of first refusal (ROFR) is not applicable to the company.
- UPA confident of numbers Seventy-two hours ahead of the trust vote, the Congress floor managers have informed Sonia Gandhi with confidence that they will be able to pull it off.
- UPA confident of numbers Seventy-two hours ahead of the trust vote, the Congress floor managers have informed Sonia Gandhi with confidence that they will be able to pull it off.
- Estee Lauder buys minority stake in Forest Essentials First investment by global cosmetics firm in ayurvedic company.??In the first clear indication that Indian luxury brands have come of age, Estee Lauder has bought into Forest Essentials, an Indian luxury ayurvedic skin, body and hair care brand.
- RIL begins arbitration against RCom In a move that could escalate the feud between the Ambani brothers, Mukesh Ambani-controlled Reliance Industries Ltd (RIL) said today it has begun arbitration proceedings against younger brother Anil Ambani's Reliance Communications (RCom) over the first right of refusal (ROFR) for RCom shares.
- Plunging sales, soaring rentals see retailers quit malls ETAM, the French lingerie brand that has a joint venture with Kishore Biyani's Future Group, recently pulled out of Palm Beach Galleria mall in Navi Mumbai, together with six other retailers such as grocery chain Foodland Fresh and Manoranjan sarees.
- Ranbaxy tanks again on US govt probe After rising 15 per cent Wednesday, the Ranbaxy stock resumed its downward journey on reports in the US media that a US Congressional Committee will examine Ranbaxy's drug approvals in the US and potential violations of manufacturing regulations.
- Moody`s also worried about fisc, but won`t change rating A day after Fitch lowered India's local currency outlook to negative, international rating agency Moody's said it was also worried about the reversal of India's fiscal situation due to high oil prices and the lack of policy adjustment by the government.
- Moody`s also worried about fisc, but won`t change rating A day after Fitch lowered India's local currency outlook to negative, international rating agency Moody's said it was also worried about the reversal of India's fiscal situation due to high oil prices and the lack of policy adjustment by the government.
- North Block to fast-track reform PSU divestment, easier ECB norms on agenda.??Soon after the trust vote in Parliament on July 22, the finance ministry hopes to push through a series of non-legislative reforms, chief among them disinvestment of minority stakes in around 10 central public sector undertakings by listing them on the stock market.
- Govt to license cable operators Ending over 17 years of unregulated growth, the government will soon make it mandatory for all the 60,000 cable operators offering services in about 80 million homes to obtain a five-year licence by paying a one-time entry fee.
- Small MPs at `receiving` end of UPA generosity "Rs 25 crore. That is the price the government is paying per MP to stay in power," said Communist Party of India General Secretary AB Bardhan, rarely given to hyperbole, at a rally.
- Ordinances planned for new IITs, univs Against the background of growing political uncertainty, the Centre is planning two Ordinances to fast-track the creation of eight new Indian Institutes of Technology (IITs) and 16 central universities.
- Bangalore airport capacity may double Civil aviation minister Praful Patel has directed Bangalore International Airport Limited (BIAL), the Siemens-led private consortium developing the new greenfield airport, to increase its capacity to handle passengers.
- Govt turns down security ok to Singtel project The ministry of home affairs has raised objections to extending Singtel Australia Holdings Pte's security clearance for a joint venture for national and international long-distance and internet services in India.
- Black Friday for Indian economy GOING FOR BROKE: Lok Sabha to convene on July 21, trust vote on July 22.
- One safe ride for the PM The Prime Minister of India's next official trip abroad will be far more comfortable than Manmohan Singh's visit to Japan.
- Govt mulls more reforms Armed with new ally, UPA puts more FDI in telecom, pvt nuclear power on agenda.
- Left pulls out, finally Trust vote inevitable, but UPA jittery about making the numbers. ??A trust vote in Parliament has become inevitable after the four Left parties that voted with the United Progressive Alliance (UPA) government announced that they would withdraw support following differences over the Indo-US civil nuclear deal, after nearly a year of threatening to do so.
- Health ministry to oppose JTIL proposal The health ministry plans to oppose the application from Japan Tobacco International Ltd (JTIL), the world's third largest tobacco company, to the Foreign Investment Promotion Board (FIPB) to raise its stake in its Indian venture from 50 to 74 per cent.
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