India’s industrial output up 13.6 percent in April
New Delhi : India's industrial output was up 13.6 percent in April over the like month of last year, thanks to a robust 15.1 percent expansion shown by the manufacturing sub-sector, according to official data released Tuesday.
Emerging markets to boost computer usage: study
New Delhi : Emerging markets like Brazil, Russia, India and China (BRIC) will boost the usage of personal computers (PCs) by over two billion within 2012, says a study.
Iran to build five refineries in Asia
Kuala Lumpur : Iran is finalizing details on five proposed refinery projects in Asia, with a total capacity of 1.1 million barrels per day (bpd), Iranian Petroleum Minister Seyed Kazem Vaziri Hamaneh has said.
Asian women’s wealth comes mainly from entrepreneurship: report
Singapore : Asian women generate more wealth from entrepreneurship than their counterparts in Europe and North America, a report said Tuesday.
Global sports goods major eyes India
By Vishnu Makhijani
IANSHelsinki : The world's largest sports goods maker is eyeing a tie-up with an upcoming ski resort in the western Himalayas in India.
India, Brazil get tough with US on world trade
Geneva : India and Brazil led a number of developing countries Monday in mounting the pressure on the US for a swift conclusion to the latest round of world trade talks.
Local Speed Post is cheaper
New Delhi : The Speed Post service of the Department of Posts will cost 40 percent less for letters within the same city, it was announced here Monday.
Indian shares close marginally higher
Mumbai : Indian shares Monday staged a smart rally in early trade before taking a beating in the last hour with a key index closing up 0.14 percent.
India’s largest public issue from DLF opens
Mumbai : India's largest public issue, the $2.4 billion offer from real estate major DLF, opened Monday and its institutional portion was lapped up within an hour, analysts monitoring the initial public offering (IPO) said.
Rs.46 billion power project for Rajasthan
Jaipur : A 1,000 megawatt power plant at an estimated cost of Rs 46 billion will soon come up in Rajasthan Chief Minister Vasundhara Raje's home district of Jhalawar to augment power generation in the state.
India, Russia trade to be $10 bn by 2010
New Delhi : India and Russia have signed an agreement to set up a joint mechanism aimed at increasing bilateral trade to $10 billion by 2010, it was announced here Monday.
Rs.46 billion power project for Rajasthan
Jaipur : A 1,000 megawatt power project will soon come up in Rajasthan Chief Minister Vasundhara Raje's home district of Jhalawar.
100 million euro fund to push Indian, Italian M&As, JVs
By Vishnu Makhijani
IANSNew Delhi : A Milan-based business advisory firm aims to create a 100 million euro (Rs.5.4 billion) equity fund to push mergers and acquisitions (M&As) and joint ventures (JVs) between Italy and India.
Pakistan earmarks Rs 12.6 billion for atomic energy
Islamabad : The Pakistan government has earmarked Rs 12.6 billion for atomic energy development in the 2007-08 federal budget.
Tata Tea makes $523 mn profit in Coke deal
By Arun Kumar
IANSWashington : India's Tata Tea is all set to make a cool profit of $523 million with the Coca-Cola company buying its 30 per cent stake in Vitaminwater maker Glaceau for 1.2 billion.
India-Brazil ties transformed after Lula’s visit: Envoy
By Manish Chand
IANSNew Delhi : India and Brazil have emerged as "major voice of moderation" in the international scene with the two-trillion dollar economies transforming their strategic ties across diverse areas, says India's Ambassador to Brazil Hardeep Singh Puri.
Pakistan hikes defence spending
Islamabad : Pakistan Saturday unveiled its budget for the coming year, with a nine percent boost to defence spending.
Pakistan hikes defence spending
Islamabad : Pakistan Saturday unveiled its budget for the coming year, with a nine percent boost to defence spending.
‘Russia among top five in terms of GDP by 2020’
St. Petersburg : Russian Deputy Prime Minister Saturday set the goal of making the country one of the five largest economies in terms of GDP by 2020.
Russian, US business to set up working group
St. Petersburg : Russian and American business will set up a working group to support Moscow's bid to join the World Trade Organization (WTO) in 2007.
Russian, Indian energy majors to sign deal on hydro plants
St. Petersburg : Russia's electricity giant Unified Energy System (UES) and India's Sun Group will sign an agreement to build several hydroelectric power plants in India and Nepal, the head of UES said Saturday.
General Motors launches diesel version of Chevrolet Optra
New Delhi : General Motors India Saturday rolled out the first diesel version of its sedan Chevrolet Optra in luxury segment with the company saying it expects to sell more in the current fiscal (2007-08).
Lot of ‘undercurrent’ on outsourcing in US: Mittal
New Delhi : There is concern over outsourcing in America, says a group of Indian corporate honchos headed by Sunil Bharti Mittal which is just back from a US visit to explore greater business opportunities.
Sinosteel signs MoU with JP Morgan
Beijing : China's Sinosteel Corp has signed a memorandum of understanding with US financial service provider JP Morgan Chase - a move designed to boost company's capital management in the international market.
India, Nepal power talks end with gains for both
By Sudeshna Sarkar
IANSKathmandu : The eighth Indo-Nepal energy talks, held after four years, have ended with gains for both sides, with Kathmandu now set to get more power from New Delhi and sell more units to its southern neighbour.
Coca-Cola completes Glacéau acquisition
By IANS
Washington : The world's largest beverage maker Coca-Cola has closed its acquisition deal for the US-based water brands maker Glacéau in which India's Tata Tea held 30 percent equity shares worth $1.2 billion.
Lufthansa, China’s Jade in talks to fly cargo to India
By Nayanima Basu
IANSFrankfurt : Lufthansa Cargo AG, an autonomous division of Germany's national passenger and cargo carrier Lufthansa Group AG, has said it is in talks with a Chinese cargo carrier to bring cargo in and out of India.
Indian Railways generates record cash surplus
New Delhi : The Indian Railways has generated a cash surplus of Rs.201.53 billion before dividend for 2006-07 against Rs.147.09 billion in the previous year, registering a 27 percent increase.
Coca-Cola completes Glacéau acquisition
Washington : The world's largest beverage maker Coca-Cola has closed its acquisition deal for the US-based water brands maker Glacéau in which India's Tata Tea held 30 percent equity shares worth $1.2 billion.
Indian IT firm HCL on Forbes’ cover
New Delhi : Indian IT bellwether HCL Technologies features on the cover page of Forbes' forthcoming issue, with the magazine tracing the journey of the firm as India's first computer company in the 1970s to growing into a billion dollar enterprise today.
3.3 mn tonnes of wheat procured in Haryana
Chandigarh : Government agencies in Haryana have procured 3.3 million tonnes of wheat so far in this season against 1.1 million tonnes last year.
Indian shares continue to fall, fuelled by global sell-off
Mumbai : Indian shares continued to languish in the red for the third consecutive day Friday, fuelled by a global sell-off, with a key index falling 0.86 percent. Buying in technology stocks, however, arrested the losses.
Agriculture sector not growing: Chidambaram
Hyderabad : Agriculture was not growing in comparison to the double digit growth in manufacturing and services, Finance Minister P. Chidambaram said here, and called for higher growth rate in agriculture as it was key to the growth of India's economy.
Gen-X are drivers of Indian retail boom: study
New Delhi : India's booming retail industry, estimated to become a $427-billion industry by 2010 from the current $328 billion, should increase its focus on the youth as the most potential consumer, says a study.
Jammu and Kashmir records Rs.3.81 bn tax collection
Jammu : Jammu and Kashmir's income tax collection in 2006-2007 was Rs.3.81 billion against Rs.2.57 billion in the previous year, an increase of 50 percent, according to official statistics.
Rise in foreign tourist arrivals in India
New Delhi : An estimated 2.02 million foreign tourists came to India in the first five months of this year, a 12 percent increase over the previous year, the tourism ministry said here Friday.
Agriculture key to India’s economic growth: Chidambaram
Hyderabad : Union Finance Minister P. Chidambaram Friday called for higher growth rate in agriculture, saying the sector was key to the growth of India's economy.
Chhattisgarh earns Rs.8.32 billion royalty in fiscal 2006-07
Raipur : Mineral rich Chhattisgarh state has earned a record Rs.8.32 billion in royalties during the fiscal year 2006-07, registering a Rs.940 million rise in royalty earnings compared to the fiscal year 2005-06, a senior official said Friday.
Singapore firms keen on Indian market: survey
Singapore : Increasing numbers of Singapore companies want to enter India or expand their business in the country, a survey said Friday.
Reverse outsourcing creating jobs in US, Hillary Clinton told
By Arun Kumar
IANSWashington : Confederation of Indian Industry (CII) president Sunil Bharti Mittal has told Democratic presidential hopeful Hillary Clinton how Indian companies are outsourcing to US firms, investing in the US and creating jobs here.
Indian shares continue to slide
Manmohan, Hu keep Arunachal Pradesh out of talks
By Arvind Padmanabhan
IANSBerlin : Despite some recent remarks by Beijing, the contentious issue of Arunachal Pradesh did not figure in the talks between Indian Prime Minister Manmohan Singh and Chinese President Hu Jintao here Thursday. Manmohan Singh, in fact, lauded China as India's "greatest neighbour".
Indian biotech sector crosses $2 billion in FY 2007
Bangalore : India's emerging biotechnology sector crossed the $2 billion mark in fiscal 2007, registering 30 percent growth over the previous fiscal (FY 2006) at $1.45 billion.
India Nepal energy talks start in Kathmandu
Kathmandu : Nepal and India Thursday began talks here to discuss power trading between the two nations.
BHEL Bhopal bags largest single order for transformers
Bhopal : Out-bidding multinational companies, the Bhopal unit of Bharat Heavy Electricals Ltd. (BHEL) has bagged a prestigious National Thermal Power Corporation (NTPC) order for transformers worth Rs.1.63 billion (about $40.75 million).
Herbal exports can reach Rs.120 bn by 2012: study
New Delhi : The export of herbal products and medicines has the potential to reach Rs.120 billion by 2012 from the current Rs.30 billion with the creation of exclusive export promotion zones (EPZ) across India, says a study.
Two consortia bag ground handling contracts for new airport
Hyderabad : GMR Hyderabad International Airport Limited (GHIAL), which is developing a new international airport near here, has awarded ground handling contracts of third party airlines to two consortia.
China, India talk on regional trade pact
Beijing : China and India are confident that their joint feasibility research on a regional trade agreement will be completed on schedule, according to China's commerce ministry.
Cambodia to get cheap electricity
Phnom Penh : Cambodia is to get a World Bank grant to construct a trans border transmission line to Vietnam and Laos to reduce high electricity fees in remote provinces.
Abu Dhabi Media Company established by UAE government
Abu Dhabi : UAE President Sheikh Khalifa bin Zayed Al Nahyan passed a law for the establishment of Abu Dhabi Media Company (ADMC) - a public joint stock company fully owned by the government of Abu Dhabi with a capital of Dh 100 million, the WAM news agency reported.
Finland could import Nokia mobiles from India!
By Vishnu Makhijani
IANSHelsinki : Finland, the land of Nokia, could soon import mobile phones from India.
Indian IT firm opens outsourcing in Poland
By Surender Bhutani
IANSWarsaw : Taking advantage of a large pool of technically qualified young people here, Pune-based IT company Zensar has begun outsourcing services from Gdansk, the Baltic port city of Poland.
UNDP releases report on insurance
New Delhi : The United Nations Development Programme (UNDP) Wednesday released a report which highlights the fact that nearly 90 percent of India's population is excluded from the insurance market.
India, UAE hold talks; to expand investment
New Delhi : India and the United Arab Emirates (UAE) Wednesday decided to expand trade and investment between them even as the Gulf country, home to over 1.4 million Indians, pushed for "an increased involvement" of New Delhi in the Gulf region.
Telemarketers asked to get registration
New Delhi : The Department of Telecommunications (DoT) Wednesday ordered telemarketers to register with the government - a day after the Telecom Regulatory Authority of India (TRAI) announced stringent regulations to provide mobile phone users relief from unsolicited commercial calls (UCC).
Indian shares dip over sharp sell-off
Mumbai : Hit by a sharp sell-off, Indian shares Wednesday slipped with a key index falling 1.92 percent amid worries of a global market correction.
Nokia Siemens to upgrade BSNL’s network
New Delhi : Global mobile telecom equipments major Nokia Siemens Networks Wednesday announced that it had bagged a contract to upgrade the network of India's state-run telecom giant Bharat Sanchar Nigam Limited (BSNL).
3G policy expected by month-end: DoT official
New Delhi : The third generation (3G) mobile telephony service policy to enable faster data transfer will be announced by the end of this month, Department of Telecommunications (DoT) Secretary D.S. Mathur said here Wednesday.
Petrol, diesel prices hiked in Delhi
New Delhi : The Delhi government Wednesday increased petrol prices by 67 paise and diesel by 22 paise a litre to "stop recurring revenue loss".
BHEL Bhopal Unit Outbids MNCs, Bags Order for Transformers Worth Over Rs. 163 cr....
Indian seafood exporters wait for WTO ruling
Kochi (Kerala) : Indian seafood exporters are eagerly awaiting a ruling by a World Trade Organisation panel on a plea against additional customs bonds imposed on Indian shrimp imports into the US, officials said here Wednesday.
Bangalore Bio to showcase India’s biotech progress
Bangalore : Complementing the rapid growth of the IT industry in India's silicon city, the emerging biotechnology (BT) sector will look for investments through partnerships and joint ventures at Bangalore Bio 2007, the three-day annual event beginning Thursday.
Rolta to set up IT Park in Kolkata
Kolkata : Mumbai-headquartered Rolta India Limited will set up an IT park in Kolkata with a phased investment of Rs.2.5 billion ($60 million).
US venture fund invests $5 mn in Indian travel firm
Bangalore : NEA-IndoUS Ventures, a venture capital co-founded by tech evangelist Vinod K. Dham and seasoned Silicon Valley entrepreneur Vani Kola, has invested $5 million in Via, India's leading travel services firm.
Make ‘inclusive’ investments in India, CII chief to US
By Arun Kumar
IANSWashington : The new Confederation of Indian Industry (CII) president, Sunil Bharti Mittal, wants US companies to make long-term and "inclusive" investments in India as the country today offers "the perfect combination" for partnership.
Relief for mobile users, TRAI conditions on telemarketing calls
New Delhi : Much to the relief of India's millions of telephone users, the Telecom Regulatory Authority of India (TRAI) Tuesday announced strict regulations on unsolicited commercial calls (UCC).
Russia bans rice import from India
Moscow : Russia Tuesday banned imports of rice, sesame seeds and peanuts from India, saying some of the goods were substandard and dangerous to human health, the Interfax news agency reported.
Enterprise India expo opens in Romania
Bucharest : The 31st edition of the Enterprise India expo opened here Tuesday with over 50 small and medium Indian companies showcasing their products to promote Indian exports to Romania.
Haryana approves Rs.15 bn European Technology Park
Chandigarh : The Haryana government Tuesday approved in principle a proposal to set up a European Technology Park with an investment of nearly Rs.15 billion ($372 million).
Asian Paints to set up mega plant in Haryana
Chandigarh : India's leading paint manufacturer Asian Paints has received a green signal to set up a mega paint plant in Haryana's Rohtak district.
Bank, tech shares drive Indian market higher
Mumbai : Led by banking and technology heavyweights, Indian equities closed firm Tuesday with a key index rising by 0.27 percent.
Å kodaIndia to launch small car by year-end
Jaipur : Å kodaIndia - a subsidiary of Å kodaAuto a.s., Czech Republic (Volkswagen Group) - is planning to launch its small car in India by this year end.
Asian Development Bank taps US bond market
Manila : The Asian Development Bank (ADB) Tuesday issued 10-year US-dollar bonds worth $1 billion to boost its resources for non-concessional operations.
Caritor completes $854 mn acquisition of Keane
Hyderabad : Caritor, Inc, a global IT services provider, Tuesday announced the completion of its acquisition of Keane, Inc. for an all-cash purchase price of $854 million.
India, Brazil must work closer: Industry lobby head
By Nayanima Basu
IANS
New Delhi : India and Brazil must work closer in ensuring that the developing world is able push its demands at the World Trade Organisation (WTO), especially in ensuring that rich nations cut their farm subsidies, the chief of a leading Indo-Brazilian industry lobby has said.
Crude prices rise ahead of storm
New York : Crude prices are witnessing a surge as an Indian Ocean storm is to hit the Persian Gulf.
Singapore in petrochemical tie-up with India and Kuwait
Singapore : A 110-million-US-dollar petrochemical plant will be built on Jurong Island in Singapore's first joint venture with India and Kuwait, news reports said Tuesday.
US seeks WTO ban on industrial subsidies
By Arun Kumar
IANS
Washington : The United States Monday demanded that the World Trade Organization (WTO) prohibit what it called "certain particularly trade-distorting subsidies" in industries ranging from steel to semiconductors.
India-Brazil ties soar on wings of trade, energy
New Delhi : India and Brazil, despite being continents apart, deepened their strategic ties as the two countries Monday signed seven pacts in areas ranging from space and education to culture and energy. The two countries also launched a CEOs forum to quadruple trade to $10 billion by 2010.
India, Brazil to swap hydrocarbon assets
New Delhi : India and Brazil Monday signed an agreement to swap their offshore hydrocarbon assets that will mark the entry of Petroleo Brasileiro S.A. (Petrobras) to India and an increased presence of Indian oil firms there.
IT arm of Sundaram Finance targets Jordan market
Chennai : Chennai-based Sundaram Infotech Solutions Ltd (SISL), the IT arm of Sundaram Finance Ltd, Monday announced a marketing partnership with Jordan's Business Soft to offer ERP solutions in the West Asian country.
India-Brazil trade can exceed $10 billion by 2010: Lula
New Delhi : "Don't give me excuses. India and Brazil can do more than $10 billion bilateral trade by 2010," Brazilian President Luiz Inacio Lula da Silva told Indian and Brazilian businessmen here Monday.
India’s telecom equipment market grows 43 percent
New Delhi : India's telecom equipment market grew by a robust 43.5 percent in 2006-07 to top Rs.771.17 billion ($18.8 billion) with mobile and fixed-line handsets business expanding by 45 percent, says a survey released Monday.
Farmers protest Aluminium project in Andhra Pradesh
Hyderabad : A public hearing on a proposed aluminium factory of the Jindal Group in Andhra Pradesh's Vizianagaram district Monday witnessed stormy scenes with a section of farmers strongly opposing the project.
Seven agreement signed between India, Brazil
New Delhi : Following are the seven agreements and memoranda of understanding signed between India and Brazil Monday in areas ranging from space, trade and energy to academic exchanges:
India, Brazil sign seven agreements
New Delhi : India and Brazil Monday invigorated their bourgeoning strategic and economic ties by signing seven agreements and memoranda of understanding (MoUs) in areas ranging from space, trade and energy to academic exchanges.
India, Brazil set trade of $10 bn by 2010
New Delhi : Brazil has emerged as India's largest trading partner in Latin America and the two sides have set a target of $10 billion in bilateral trade by 2010, Commerce Minister Kamal Nath said here Monday.
MP exports potatoes, onions, spices worth over Rs. 45.59 cr.
Ahluwalia has his take on high executive salaries
New Delhi : Joining the debate with Prime Minister Manmohan Singh on high corporate salaries, Planning Commission Deputy Chairman Montek Singh Ahluwalia says shareholders must question the emoluments of their company chief executives.
Why Brazil matters to India
By Manish Chand
IANSNew Delhi : Soccer, samba, carnival and beautiful women may sum up Brazil's romance and mystique. But as this Latin American giant wakes up to a new global role, fuelled by its trillion-dollar economy and expertise in green fuels, it's growing ties with India, another rising power, has caught the attention of the world.
Nutrient-rich dairy beverages an emerging market
The global food market is estimated at around $2.5 trillion per annum, which is growing currently at a rate of four percent per annum. A radical shift in food consumption pattern has been forecast the world over.
Industry lobby opposes unrestricted foreign equity in retail
New Delhi : The government should permit foreign equity in retail trade only in a calibrated manner so that Indian firms can invest in the business and prevent the flight of domestic capital overseas, says an industry lobby.
Indian equities end higher for third straight week
Mumbai : Indian equities ended higher for the third straight week Friday on the back of major buying by foreign funds and investor interest in some heavyweight stocks.
Emaar-MGF plan $12 bn India investment
By Jaideep Sarin
IANSChandigarh : The joint venture between Dubai-based construction major Emaar and MGF of India, which has announced an integrated township near Chandigarh, are targeting an investment of $12 billion in India over the next five years.
Delhi to invest Rs.6.2 bn on Haryana power plant
New Delhi : Power-starved Delhi will invest Rs.6.22 billion for construction of a thermal power plant in Jhajjar district of Haryana to get electricity before the city hosts Commonwealth Games 2010.
Emaar-MGF to invest Rs.160 bn in Punjab
Chandigarh : Dubai-based construction giant Emaar and its Indian partner MGF Developers will invest Rs.160 billion for housing and infrastructure projects in Punjab.
Tatas to acquire control in ‘Himalayan’ water
New Delhi : The Tata group, India's largest private business group, announced yet another acquisition Friday with the decision to pick 10.74 percent equity in the company that owns the "Himalayan" brand of bottled water.
Indian shares make marginal gains
Mumbai : Indian shares made marginal gains Friday taking the weekend closing of a key index up by 0.18 percent with bank, technology and pharma stocks being the major gainers of the day.
BSNL, MTNL slashes roaming charges from Sunday
New Delhi : State-run Mahanagar Telephone Nigam Ltd (MTNL) and Bharat Sanchar Nigam Ltd (BSNL) Friday said that roaming charges for their subscribers would be slashed from June 3.
India’s merchandise exports up 23 percent in April
New Delhi : The performance of India's external sector started on a strong note for the current fiscal, with merchandise exports registering a 23.06 percent growth in April at $10.575 billion, against $8.59 billion in April 2006.
‘India will be $30 bn hub for engineering outsourcing’
New Delhi : India's engineering process outsourcing (EPO) business would grow 10-fold over the next seven years to touch $30 billion and make the country a major hub in this area, says a study released Friday.
Northwest Airlines emerges from bankruptcy
New York : The fifth largest US carrier Northwest Airlines Corp. has overcome bankruptcy protection after more than two years of severe cost-cutting measures.
India-China trade yet to pick up at Shipki La pass
Shimla : As the Shipki La pass opens again this year, trade between India and China is yet to pick up on the high Himalayan route after being revived 14 years ago.
UK insurance major to outsource jobs to India
London : British insurance major Resolution has announced plans to outsource a number of jobs to India as part of a deal with support services company Capita to reduce costs.
Finnish firm acquires electronics plant in India
Chennai : Finland-based Incap Corporation's subsidiary Incap Contract Manufacturing Services Pvt Ltd Thursday acquired the manufacturing facility of TVS Electronics in Tamil Nadu for Rs.420 million ($10.40 million).
Mallya gets on board Air Deccan, finally
Mallya takes 26 percent stake in Air Deccan for $135 mn
Bangalore : In another grand alliance in Indian aviation, liquor baron Vijay Mallya's UB group that runs Kingfisher Airlines has picked up 26-percent equity in budget carrier Air Deccan for Rs.5.5 billion ($135 million).
Indian economy records fastest growth in 18 years
New Delhi : With robust performances by manufacturing and services sectors, India's gross domestic product (GDP) expanded by 9.4 percent in 2006-07 to register the fastest growth in 18 years, official data revealed Thursday.
Mukesh Ambani’s economic zone plan remains stuck
New Delhi : A decision on Mukesh Ambani's application for a special economic zone near Mumbai was deferred by a high-level panel Thursday, which gave formal approvals to 23 proposals, including one from the Tatas.
Mallya picks 26 percent stake in Air Deccan
Bangalore : Business tycoon Vijay Mallya Thursday picked up 26 percent equity stake in Air Deccan, India's first low-cost carrier, for Rs.5.5 billion at Rs.155 per share through his holding firm United Breweries (Holdings) Ltd, which operates Kingfisher Airlines.
Indian economy logs fastest growth in 18 years
New Delhi : With robust performances by manufacturing and services sectors, India's gross domestic product (GDP) expanded by 9.4 percent in 2006-07 to register the fastest growth in 18 years, official data revealed Thursday.
NSE index hits record high
Mumbai : Indian equities, boosted by firming Asian markets, staged a rally Thursday with National Stock Exchange (NSE) index Nifty closing at an all-time high of 4,295.80.
Air Deccan offers 26 percent stake to Mallya
Bangalore : Private domestic carrier Air Deccan Thursday offered 26 percent equity stake to Vijay Mallya's United Breweries (Holdings) Ltd, promoter of its bigger rival Kingfisher Airlines.
Air Deccan will make a preferential offer of 35,222,231 shares at a price of Rs.155 per share, company officials said here.
Mukesh Ambani’s economic zone plan remains stuck
New Delhi : Twenty-three proposals for setting up special economic zones, including one for multi-product manufacturing from the Tatas, were formally approved by a high level panel that met here Thursday.
China opens nuclear power sector to foreign investors
Beijing : China has opened up its nuclear power generating sector to domestic and foreign investors.
EU says India main source of counterfeit medicines seized in Europe
Jindal offers free shares to farmers in Bengal project
Kolkata : Sajjan Jindal-controlled JSW Steels Ltd Thursday said it would offer free shares to those whose land would be acquired for its upcoming mega plant in West Bengal - an unprecedented move amid protests over land acquisition.
Indian food major Patak’s goes from 5 to 100 mn pounds
By Prasun Sonwalkar
IANS
London : Patak's, an Indian food company set up by an Indian immigrant who came here in the 1950s with only five pounds in his pocket, has been sold for over 100 million pounds, signalling a landmark in Britain's ongoing love affair with palate-tingling Indian cuisine.
Abandon liberalisation agenda, CPI-M tells PM
New Delhi : Ridiculing Prime Minister Manmohan Singh's appeal to industry to work for a more equitable world, the Communist Party of India-Marxist (CPI-M) Thursday asked the government to shed its liberalisation agenda if it was serious about inclusive economic growth.
Thales opens global software centre in Chennai
Chennai : The international defence and civil security electronics technology supplier Thales group Thursday opened a $1.3 million software centre here, choosing the city for its global system development and export hub.
Dior’s retail proposal gets government nod
New Delhi : Noted fashion house Christan Dior Couture's proposal to inject foreign equity of up to 51 percent in a single brand retail trade company has secured the Indian government's nod, an official statement said Thursday.
Outsourcing jobs to India upsets Scottish firm’s workers
H-1B visas are beneficial for both US, India: Nasscom
New Delhi : Replying to two US senators who have queried nine Indian IT firms on allegations of misuse of H-1B visa facility, a leading Indian IT lobby Wednesday said such visas are "beneficial" for the growth of both American and Indian companies.
Blue chips apply brakes to rally in Indian stocks
Mumbai : Dragged down by blue chip stocks following weakening Asian markets, a leading Indian stock market index Wednesday closed 0.66 percent lower after two consecutive days of gains.
India, GCC intensify economic ties, mull free trade pact
Mumbai : India and the Gulf Cooperation Council (GCC) agreed Wednesday to further intensify their economic ties and finalise a free trade pact, while recognizing that oil and gas will remain the "mainstay" of their cooperation.
Regulate big retailers to save small traders: CPI-M
New Delhi : The Communist Party of India-Marxist (CPI-M) Wednesday asked the government to adopt stringent regulations for retailers in organised sector, warning that the corporate houses' move to expand "aggressively" in the retail sector would affect small traders.
Posco to use self-developed technology for Orissa plant
Bhubaneswar : South Korean steel major Posco Wednesday said it will adopt its self-developed FINEX technology for its proposed $12 billion greenfield integrated steel project in Orissa, coming up under the largest foreign direct investment in India.
DLF to foray into insurance business
New Delhi : Indian real estate major DLF Ltd is set to diversify and enter the insurance segment within a year as it has tied up with US-based Prudential Insurance.
India, GCC sign declaration to push economic ties
Mumbai : Even as India and the Gulf Cooperation Council (GCC) Wednesday said the process to finalise a free trade pact will be expedited, they also released a joint declaration to shape the future course of economic ties.
Invest in Indian stocks, Kamal Nath tells GCC nations
EU reluctant to resolve free trade issue on ‘any terms’
UAE based TAQA buys Pogo’s Canadian energy subsidiary
India spurs record $40 bn capital flows to South Asia
Rs.250 bn package for agriculture revamp
New Delhi : Prime Minister Manmohan Singh Tuesday announced a Rs.250 billion package for agriculture that aims to boost the growth rate of the sector and put Indian economy on the path to a 10 percent growth.
Kerala company to provide software services to US firm
Thiruvananthapuram : US Technology International, an IT firm based in Technopark here, Tuesday announced the signing of a multi-year, multi-million-dollar agreement to provide software development and testing services to H&R Block Inc of Kansas City, the US.
Kerala wants tariff hike to overcome power crisis
New Delhi : Foreseeing an acute power crisis in Kerala, the state government has sought more powers to frame its electricity policy even as it plans a drastic change in its power tariff for industry.
Day one of India, GCC talks ‘fruitful’
Mumbai : Talks on enhancing bilateral trade on the opening day of a two-day meeting between India and the six member states of the Gulf Cooperation Council (GCC) were "fruitful" leading to concrete decisions, the commerce and industry ministers of India, Oman and Saudi Arabia said here Tuesday.
India, Vietnam keen to expand bilateral trade
New Delhi : India and Vietnam are hopeful of achieving the bilateral trade target of $2 billion by 2010, even as New Delhi wishes to join hands with the Southeast Asian nation in the hydrocarbon and power sectors.
Rising rupee a concern: Kamal Nath
Mumbai : Expressing concern over appreciation of the Indian rupee, Commerce and Industry Minister Kamal Nath Tuesday said the government was looking at ways to counter its impact on sections of Indian economy.
FDI policy to be finalised by June-July
Mumbai : India's much-awaited policy on foreign direct investment (FDI) is likely to be announced by June or early July, a senior official said here Tuesday.
Blue-chip stocks lead rally in Indian stocks
Mumbai : Buoyed by leading pharmaceutical stocks and market heavyweights, a key index of the Indian stock market gained 0.76 percent Tuesday, keeping the upward trend for the second consecutive day.
Wipro, Airtel, Bank of India bag outsourcing awards
New Delhi : India has yet again shown its credibility as the world's most preferred BPO (business process outsourcing) destination as three of its leading companies - Wipro, Airtel and Bank of India - have bagged the prestigious Outsourcing Excellence Award.
Hyderabad to host Routes Regional Asia in 2009
Hyderabad : Hyderabad will host Routes Regional Asia, the biggest and the most prestigious event of global civil aviation industry, in March 2009, and will become the first Indian city to do so.
Rising rupee a concern: Kamal Nath
By IANS
Mumbai : Commerce and Industry Minister Kamal Nath Tuesday expressed concern over appreciation of the Indian rupee against the US dollar and said the government was taking steps to control it.
"We are discussing with the export council on the way forward. The rupee's rise is a concern and the ministry of trade and commerce is discussing the issue with RBI also," the minister said at a two-day India-Gulf Cooperation Council (GCC) meeting.
Agri business attracts huge investments in Madhya Pradesh
Bahwan CyberTek expands India operations
Vizag emerging as Andhra Pradesh’s next IT hub
Kerala IT firm to partner with Infosys
NRIs launch $7 mn investment fund
Hyderabad : The Andhra Pradesh Investment Fund, a new angel investment company with a corpus of $7 million, was launched here Tuesday for specifically targeting companies in the state.
Vodafone to sell direct stake in Bharti
New Delhi : Global mobile telecom giant Vodafone, which acquired Hutch-Essar from Hong Kong-based Hutchison Telecommunications International by paying $10.9 billion, Tuesday said it would sell its entire direct shareholding stake in rival Bharti Airtel by November 2008.