Wipro starts operations in Poland
By Surender Bhutani, IANS,
Warsaw : Indian IT giant Wipro has started its operations in Poland from the city of Wroclaw, close to the German border, officials said.
The Bangalore-based IT company, which had a turnover of $5 billion in 2007, has employed more than 200 technicians to expand its business not only in Poland but all of Europe. The operations will be carried out in both English and German.
Poland is one of the favourite destinations of Indian IT companies. Tata Consultancy Services (TCS) and Zanser have already made inroads into the European country.
Uttar Pradesh approves Rs.12 bn water supply project
By IANS,
Agra : The Uttar Pradesh government has approved a Rs.12 billion Gangajal pipeline project for Agra, Mathura and Vrindavan, providing some hope of relief for the parched areas.
The project envisages the laying of a 130 km pipeline from Palra headworks in Bulandshahr's Upper Ganga canal to the Sikandra Water Works in Agra, via Mathura and Vrindavan. A new bridge on river Yamuna is being constructed near Runukta to enable the pipeline cross over to Mathura district.
GTC Industries changes name to Golden Tobacco
By IANS,
New Delhi : Indian tobacco major GTC Industries Ltd has changed its name to Golden Tobacco Ltd, the company said Monday.
Upon approval by the Registrar of Companies, Maharashtra, a fresh certificate of incorporation has been issued, the company said in a regulatory statement.
The shareholders had approved the company's proposal to change the name through a special resolution passed at the annual general meeting held July 14.
Diamond Fabcare to open 100 Wardrobe outlets
By IANS,
New Delhi : Diamond Fabcare Pvt Ltd, in collaboration with Brown Gouge of Australia, will invest Rs.1.5 billion ($32.6 million) to open 100 outlets of its retail dry-cleaning chain Wardrobe in Delhi and the national capital region, the company announced Monday.
The company plans to extend its services all over the country in the next three to five years.
HDFC net profit rises to Rs.5.29 bn
By IANS,
Mumbai : HDFC Bank Thursday announced a net profit of Rs.5.29 billion for the second quarter of fiscal 2008-09 against Rs.3.68 billion in the same period last year.
The total income increased to Rs.46.34 billion during the July-September period from Rs.28.45 billion of the year-ago period.
"The results for the quarter were not comparable with that of the corresponding period last year as the bank had merged with Centurion Bank of Punjab," a bank statement said.
Shares of HDFC Bank closed at Rs.1,087.35, down by 4.15 percent on the Bombay Stock Exchange.
Malayalam hit ‘Twenty 20’ breaks Kerala box-office record
By IANS,
Kochi : Malayalam movie "Twenty 20", which brings together top stars Mammooty, Mohanlal, Suresh Gopi and Jayaram, was released last week and has broken the box-office record in the state.
"Though released only in 115 theatres Wednesday, the opening day collection crossed Rs.10 million. It remains strong. Now, instead of worrying about repaying debtors, I can laugh all the way to the bank and plan future strategy on the basis of this successful formula," actor-producer Dilip told IANS.
Domestic tractor market to saturate by 2023: Mahindra official
Kolkata : Considering the momentum in the Indian tractor market, its sales and adoption, automobile major Mahindra and Mahindra is expecting it to reach...
‘Modi regime fascist, must be dethroned at any cost’
By IANS:
Kolkata, July 18: Terming the Narendra Modi regime at the centre as a "fascist power" that is destroying the country's economy and creating...
Ideas for financial inclusion of Indian Muslims discussed at Harvard
By Kashif-ul-Huda, TwoCircles.net
Cambridge, Massachusetts: A three-day 11th Harvard University Forum on Islamic Finance began Friday afternoon on the topic of Takaful & Alternative Cooperative...
BJP welcomes PM’s nudge to banks to give poor preference
New Delhi : The Bharatiya Janata Party (BJP) on Sunday welcomed Prime Minister Narendra Modi's appeal to banks to give preference to the needs of...
Digital Liberty Group takes over Kochi-based IT firm
By IANS
Kochi (Kerala) : California-based IT major Digital Liberty Group (DLG), Friday announced it taking over 55 percent stakes in the Kochi-based Comprehensive Software Solutions and Services (CS3).
DLG, one of the world's fastest growing companies, has diversified business interests across the globe and is operating in the fields of IT, real estate, hospitality, global investments and genetic engineering.
CS3 has been instrumental in providing high-end software solutions to leading utilities and vertical markets ever since its inception in 2002.
Agenda for India: Real Estate
TwoCircles.net presents “Agenda for India”. Series editor is Charu Bahri.
Challenges & Solutions
“Urbanization is not a side effect of economic growth; it is an integral part of the process.
But inappropriate planning has led to uneven saturation, and the uneven zoning of commercial and residential spaces in Indian cities”, says Reza Kabul, Principal Architect and Founder, ARK Consultants Private Ltd.
Aqua Logistics starts Middle East subsidiary
By IANS,
Mumbai : Third party logistics firm Aqua Logistics Wednesday launched its Middle East operations and hoped to generate a business of Rs.80 crore next year.
Syamal Gupta retires as Tata BP Solar chairman
By IANS,
New Delhi : Tata group veteran Syamal Gupta has retired as chairman of Tata BP Solar after 53 years with India's largest industrial house. He will be succeeded by the company's chief executive Reyad Fezzani.
Gupta, who started his career with the Jamshedpur-based Tata Steel, went on to become chairman of a number of Tata companies including Tata International, Tata Elxsi, Tata Advanced Materials and TCE Consulting Engineers.
He has also been instrumental in the international forays of several group companies, a statement issued Friday by the group said.
6.3 percent of Goa’s GDP comes from foreign remittance: Study
By IANS,
Panaji : Goa received foreign remittances to the tune of Rs.700 crore in 2008, which accounted for 6.3 percent of the state gross domestic product (SGDP) during the period, a study released here Tuesday said.
The study, 'Goa Migration Survey 2008', was released by the Goa non-resident Indians (NRI) commissioner Eduardo Faleiro.
Kerala-based Centre for Development Studies (CDS) conducted the survey across nearly 600 households in the state.
Chidambaram quotes Tiruvalluvar on good governance
By IANS
New Delhi : Finance Minister P. Chidambaram Friday quoted Tamil saint poet Tiruvalluvar in the Lok Sabha to emphasise the need for compassion and righteous rule.
Speaking during the presentation of the budget for 2008-09, Chidambaram said: "As always, I turned to my muse, Saint Tiruvalluvar, for guidance and reassurance.
"Two thousand years ago he set the benchmark for good governance in the following immortal words:
Mittal brothers deny rumours of rift
By IANS
London : Lakshmi Mittal, owner of the world's largest steel company, and his younger brother Pramod Mittal have denied rumours of a family feud, the Sunday Times reported.
The paper said Lakshmi Mittal, chairman of ArcelorMittal, is bidding to buy an ailing Bulgarian steel plant owned by his brother at a price that is lower than what Pramod Mittal expects.
China’s Dalian Wanda to set up industrial townships in India
New Delhi: The $100-billion Dalian Wanda Group of China is planning to develop industrial townships in India with built-in facilities such as schools, hospitals,...
Winding queues outside Chennai banks, many ATMs don’t work
Chennai : For a second day in succession, serpentine queues of common people formed outside banks and ATMs here to exchange old 500 and...
Kuwaiti parliament dissolved over fuel price row
Kuwait City : Kuwait's cabinet has resigned and parliament has been dissolved, triggering early elections following disputes between MPs and the government over fuel...
Intel India builds Centrino mobile platform for global market
Bangalore, May 17 (IANS) Intel India Development Centre (IIDC) of the world's largest chipmaker, Intel Inc, has played a major role in designing, developing, testing and validating the Centrino mobile platform for the consumer and enterprise markets worldwide.
"The mobility group of the IIDC was involved in the development of the Centrino mobile platform, contributing about 70-80 percent of the new processor. Our development centres in Israel and the US chipped in to fabricate the chipsets for OEMs and ODMs," Intel India mobility group director Sandeep Shah told reporters here Thursday.
Equity firms buy stake in Jai Balaji Industries
By IANS
Kolkata : Citi Venture Capital Fund and India Equity Partners have decided to buy 15 percent stake worth Rs.2.73 billion ($69 million) in steelmaker Jai Balaji Industries Ltd to partly finance its expansion.
Both the companies have decided to subscribe to 61,18,000 and 22,41,000 compulsorily convertible debentures of Rs.326.90 each respectively, to be converted into one equity share per debenture, aggregating to Rs.2.73 billion, representing 11 percent and 4 percent of the diluted equity through a preferential allotment.
Electrotherm India bags Turkish order for furnaces
By IANS
Ahmedabad : Engineering firm Electrotherm India Ltd has bagged orders worth $14 million to design, manufacture and supply furnaces to Turkey.
It will also supervise erection and commissioning of the induction-melting furnaces, the company said in a statement to the Bombay Stock Exchange thursday.
The orders also include manufacture and supply of electrical and cooling systems and other equipment.
An ISO 9001:2000 certified company, Electrotherm has its 90,000 sq metre plant at Palodia on the outskirts of Ahmedabad.
Sensex still in the red, down 106 points
By IANS,
Mumbai : Indian markets were in recovery mode a little before Thursday noon after witnessing sharp falls on opening. A key index was ruling 106 points below its last closing figure after opening about 245 points lower.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which had opened at 11,774.04 points, was ruling at 11,913.45 points, still 106.2 points or 0.88 percent lower than its previous close.
Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE) was ruling at 3,623 points, 0.34 percent lower than its last close.
RPP Infra plans to set up 5 MW solar power plant
By IANS,
Mumbai : RPP Infra Projects Limited Friday announced plans for a 5 MW solar power project with an investment of Rs.80 crore in Tamil Nadu.
Godrej Sara Lee to set up insecticides plant in Nepal
By IANS,
Kathmandu : Godrej Sara Lee (GSLL), a joint venture between India's Godrej Group and the US' Sara Lee Corporation, is setting up a plant in Nepal to meet the growing demand for insecticides in the Himalayan republic.
Known for its household mosquito repellent Good Knight, GSLL is planning to invest Rs.1 crore to set up the plant, according to the company's deputy chief for international operations, Mohan Sapre.
The plant could generate about 45 percent of GSLL's products, Sapre said at the Good Knight Dealers' Meet here Tuesday.
EIL pays highest so far dividend
By IANS,
New Delhi : Design and engineering consultancy firm Engineers India Limited announced Tuesday it has paid a dividend of Rs.507.65 crore - the highest so far by the public sector company - to the government.
A press release issued by the ministry of petroleum and natural gas said a special interim dividend cheque of Rs.507.65 crore was presented to petroleum minister Murli Deora by EIL chairman and managing director, A.K. Purwaha.
Phiroz Vandrevala to co-chair Indo-British Partnership
By IANS
New Delhi : Phiroz Vandrevala, executive vice president of Indian IT major Tata Consultancy Services, will now co-chair the Indo-British Partnership (IBP), a body aiming to increase trade between Britain and India.
Internet, mobiles make Diwali muhurat trading impersonal affair
By Quaid Najmi
Mumbai(IANS) : The traditional and auspicious 'muhurat' (inaugural) trading at the Bombay Stock Exchange (BSE) Friday evening has undergone a sea-change over the past decade or so, thanks to the Internet and mobile phones.
Though officially closed, the BSE and NSE remains open for an hour Friday evening to keep alive the trading spirit of the Hindu traditional financial New Year day celebrated on Diwali.
Islamic Banking system introduced to FICCI
By TwoCircles.net news desk,
New Delhi: “If Islamic Banking is adopted in India, it will be beneficial to all segments of the society and a boon to the marginalized and minority community," said H. Abdur Raqeeb, national convener of Indian Centre for Islamic Finance (ICIF) at a programme of Federation of Indian Chambers of Commerce and Industry (FICCI) in New Delhi.
British importers of Rajasthan sandstone worried about child labour
By IANS,
London : Reports that child labour may be in use in the quarrying of the world-famous sandstone in Rajasthan has led some British companies to tighten their import guidelines.
B&Q, one of Britain's top DIY (Do It Yourself) superstores, says it has adopted strict buying standards and rigorous quality management processes to oversee the suppliers of sandstone after hearing reports of use of child labour in Rajasthan.
Cross LoC trade: JKTMC launches website to strengthen Indo-PaK business relations
By NAK,
Suchetgarh (RS Pura) : The chamber of commerce of both Indian administered Jammu and Kashmir (IAK) and Pakistan administered Kashmir (PaK) who formed a common chamber of commerce and named it as Jammu and Kashmir Traders and Manufactures Cooperative Limited launched a website.
The website www.jkctm.com was launched today at International Border near RS Pura which according to the members will help both the sides in maintaining business relations and sharing samples of trading goods.
Indo-Spanish venture to offer electronic manufacturing services
Bangalore, May 18 (IANS) Two Spanish firms Electronica ITEL and DigiProces have roped in two Indian serial entrepreneurs Anil Gupta and Alok Garg to set up an electronic manufacturing services (EMS) joint venture (JV), with an upfront investment of $10 million (Rs.410 million).
The JV-Indic Electronics Ltd, to be commissioned by August, will provide end-to-end customised solutions, including functional testing and simulation to vendors outsourcing their product requirements.
Pressmart makes inroads in US digital publishing market
Hyderabad, Sep 17 (IANS) Hyderabad-based Pressmart stepped up its business growth plans in the US digital publishing market by signing an agreement with Suburban Newspapers of America (SNA) to provide a digital, same-as-print electronic edition of their monthly association newspaper, Suburban Publisher.
This partnership places Pressmart in a position to tap increasing demand for digital publishing solutions in the US, said a company statement here. SNA members include some of the largest public and privately held newspaper companies in North America.
India Foreign Exchange Reserves exceed $ 266 billion
New Delhi, Feb 10th,2008 (WAM) -- India?s foreign exchange reserves have grown to an all-time high of US$ 266.55 billion in December 2007, strengthening the Indian Rupee further.
According to a Finance Ministry report, the Rupee appreciated against the Euro, Pound Sterling and the Japanese Yen but depreciated against the Dollar slightly.
Tax yields have steadily been growing higher due to liberal economic policies of Prime Minister Manmohan Singh?s government, recording a 24.5 per cent growth compared to the corresponding period in 2006.
Kerala’s first multiplex all set to open
By Sanu George, IANS,
Kochi : Fifty-eight-year-old M.A.Mohammed, a Dubai-based Kerala businessman, is on a roll as the state's first multiplex is all set to open at his Oberon mall here.
The air-conditioned Oberon mall which opened last year in March is the state's biggest mall, which has a built up area of 3,50,000 sq ft. The four-theatre multiplex would be run by Mumbai based Cine Max, Mohammed told IANS.
Every third Muslim in urban area is poor: Planning Commission
By Mohammad Ali, TwoCircles.net
Indian e-commerce market to grow 36 percent in 2015-20
Kolkata: Backed by huge discounts and the rising use of smartphones, the Indian e-commerce market is poised to grow 36 percent during the 2015-20,...
Indian company seeks to set world record in Uganda
By IANS,
New Delhi: An Indian company in Uganda keen to promote hygiene among children is set to create a world record by spreading one lakh pieces of medicated soap on a vast ground.
Hindustan Powerprojects aims at 5,000 MW generation
By Biswajit Choudhury, IANS,
Gunthawada (Gujarat) : Hindustan Power projects Pvt Ltd (HPPPL), just-renamed Moser Baer Projects, plans to invest around Rs.32,000 crore over three...
Coastal Energen to import equipment for Tuticorin power plant
By IANS,
Chennai : Coastal Energen Pvt Ltd, an arm of Dubai's Coal and Oil group, is in discussions with power equipment makers in China, South Korea and the US for importing boilers and turbine generators for its 1080 MW thermal power project in Tuticorin in Tamil Nadu, a company official said.
"We are in discussions with different equipment suppliers for sourcing the boilers and turbine generators for the project that is expected to go on stream in 2011," S.M. Zafrulla, managing director of Coastal Energen, told IANS.
Russian Expo Arms 2008 to showcase 500 companies
By RIA Novosti,
Moscow : About 500 domestic and foreign arms manufacturers will participate in an international arms exhibition to be held in Russia's Urals region next month, an official said Wednesday.
Russian Expo Arms 2008 slated for July 9-12 is the sixth biannual arms exhibition held in the town of Nizhny Tagil, considered the home of Russia's weapons industry, and is organised by the Federal Agency for Industry and the government of the Sverdlovsk region.
Radha Realty to build ultra luxury houses in Hyderabad
By IANS,
Hyderabad : Radha Realty Corp, a leading realty developer in South India, Thursday announced launch of U31, a single family homes gated community project in Hyderabad.
The firm claimed that the project, designed by internationally acclaimed Australian architect Andrew Maynard, would set a new benchmark in ultra luxury living.
The limited 31 edition ultra luxury town houses will be built on nine acres in Kondapur at a cost of Rs.2.75 billion. The 19 courtyard houses and 12 pavilion houses, priced at Rs.120 million onwards, will be surrounded by greenery and water streams.
Two more carriers offer pan-India number portability
New Delhi: Two more service providers will provide pan-India mobile number portability from Friday, enabling customers to retain their mobile phone number while relocating...
Indian wins battle for Nepal’s casino kingdom
By Sudeshna Sarkar, IANS
Kathmandu : A nearly year-long battle for the ownership of Nepal's casino industry, worth millions of rupees, has finally reached an end with the government recognising the claims of an Indian investor.
Rakesh Wadhwa, a chartered accountant from New Delhi, now holds sway over Nepal's eight casinos, a major tourist attraction and a golden goose for the government, paying annually Nepali Rs.120 million (about $2 million) as royalty alone.
Himachal to set up another apple juice concentrate plant
By IANS,
Shimla : To help apple growers, the Himachal Pradesh government has decided to set up another apple juice concentrate facility in the state, according to Horticulture Minister Narender Bragta.
"We have decided to set up another apple juice concentrate plant at Gumma in Shimla district. This is in addition to the Parwanoo plant (in Solan district)," Bragta told IANS here Wednesday.
The unit will be set up on an outlay of Rs.23 crore, the minister said.
West Bengal budget: Rs 570 Cr for minority welfare
Rs 570 Cr for minority welfar is not even 1% of the total budget amount while Muslims account 25% of the state population
By Zaidul Haque, TwoCircles.net,
60 percent Pakistanis buy just one pair of shoes
By IANS,
Islamabad : Around 62 percent of Pakistanis say they purchased just one pair of shoes for personal use during the last one year, according to a survey.
SBI’s Sharia compliant MF: Time for a review of the decision
By Dr Mohammad Manzoor Alam,
As we approach the fag end of the financial year, it is time now for the Union government to have a fresh look at its decision to defer a Shariah-compliant mutual fund that was to be issued by the State Bank of India (SBI).
Illiterate landless Muslims: the three levels of vulnerability
By Kashif-ul-huda, TwoCircles.net
A commission constituted by the UPA government suggests that Muslims in India face vulnerability in employment sector due to low level of education, having no land and being Muslim.
Blue Star to focus on residential segment
By IANS
Chennai : Commercial refrigeration major Blue Star Limited will be focussing on the residential segment with its range of energy labelled air conditioners.
According to deputy managing director T. Gouri Sankara Babu, in the last three years Blue Star's room air conditioner business has been growing at a combined annual growth rate of 50 percent as against industry growth of 25-30 percent.
The company's 500,000 units per annum plant at Himachal Pradesh enables its foray into the competitive residential segment.
Nirma to acquire US soda ash manufacturing firm
By IANS
Ahmedabad : Detergent maker Nirma Ltd announced Tuesday that it would buy US-based soda ash producer Searles Valley Minerals (SVM) for an undisclosed sum.
When the deal is wrapped up, Nirma would lead the producers' market in soda ash (sodium carbonate), a key ingredient to make soaps and detergents.
SVM's annual production is 1.9 million tonnes. Nirma's existing manufacturing capacity is one million tonnes.
Soda ash is a high-volume, low-value product and finds application in production of detergents, glass and chemicals.
Syria, France sign economic cooperation agreements
By KUNA,
DAMASCUS : Syria and France signed on Sunday seven agreements and memoranda of understanding (MoUs) in the fields of oil, natural gas, electricity, railroads, water and transport.
The agreements were signed by Syrian Minister of Economy and trade Amir Lutfi, Minister of Industry Fuad Al-Jouni, and the Secretary of State in charge of Industry and Consumption Luc Chatel, with the attendance of Syrian Deputy Prime Minister for Economic Affairs, Abdullah Al-Dardari.
Gujarat Heavy Chemicals shareholders gather against promoters
By IANS,
New Delhi : Minority shareholders of soda ash manufacturer Gujarat Heavy Chemicals Ltd (GHCL) Thursday said they would form a forum to protect their interests and "avoid being cheated by the promoters".
GHCL has been mired in a controversy after a Securities and Exchange Board of India (SEBI) order barred chairman Sanjay Dalmia, managing director Ravi Shanker Jalan and company secretary Bhuwneshwar Mishra from trading in equities markets, saying the company had inflated its shareholding in its quarterly filings.
Emaar MGF launches its first hotel in Jaipur
By IANS,
New Delhi : Real estate major Emaar MGF Thursday unveiled its first hotel project in India, Fortune Select Metropolitan, to be managed by an ITC subsidiary.
Located in the heart of Jaipur, Fortune Select has 90 rooms that include six suites. The property also has a sun deck, rooftop swimming pool, spa and health club.
"Jaipur offers tremendous potential to the business and tourism industry and the opening of the Fortune Select Metropolitan is a key strategic move in expanding our presence here,said Emaar MGF chief executive Sanjiv Rai.
Tata Power, Norwegian firm sign pact on hydropower projects
By IANS,
New Delhi : Tata Power Friday said it has signed an agreement with Norwegian renewable energy company SN Power to jointly develop hydropower projects in India and Nepal.
This is the first time that the Tata group firm has entered into a partnership with a hydropower company.
"Together, the joint venture aims to add 2,000 MW by 2015, and a total of 4,000 MW by 2020," the company said in a regulatory statement.
Both companies have begun pursuing potential renewable energy project opportunities in the Himalayas.
Godrej Agrovet plans Rs.60 crore investment in Bengal, Bihar
By IANS,
Kolkata : Diversified agri-business company Godrej Agrovet Limited (GAVL) plans to invest Rs.60 crore in West Bengal and Bihar for setting up animal feed mills, a top company official said here Saturday.
"We would invest around Rs.60 crore to set up animal feed mills in West Bengal and Bihar. These mills would come up in one year. We would require five-six acres to set up these mills," B.S. Yadav, managing director of the company told reporters at a press meet.
Shiv vada-pav will be as popular as McDonald’s burger: Uddhav Thackeray
By IANS,
Mumbai : Shiv Sena executive president Uddhav Thackeray has said that the branded Shiv vada-pav launched here would gain popularity across the world and even compete with global burger giants like McDonald's.
"My Marathi folks are willing to work hard and now they have got this opportunity in the form of Shiv vada-pav. It will be popular not only in India, but also around the world," Thackeray said late Monday while launching the branded vada-pav at a glittering function in Shivaji Park here.
V.P. Singh gave Trivandrum airport international status
By IANS,
Thiruvananthapuram : Among the things former prime minister V.P. Singh, who passed away Thursday, would be remembered for is declaring the Trivandrum airport here as an international airport.
K.V. Muraleedharan, president of the Kerala Association of Travel Agents, told IANS that it was in 1990 when Singh was the prime minister that the airport here was given the status of an international airport.
"It was at a public function here that Singh, in the presence of then chief minister E.K. Nayanar, made the announcement," recalled Muraleedharan.
Dear Prime Minister, are you sure the rich are not sleeping well post...
By Soroor Ahmed for Twocirlces.net
As a son of a poor ‘chai-wallah’, Narendra Modi knows well how comfortably––‘aaram se’, to use his own expression––the...
Jharkhand asks banks to step up loans to jobless youth
By IANS,
Ranchi: Jharkhand Deputy Chief Minister Raghubar Das Tuesday warned of action against banks not giving loans to unemployed youth under the Prime Minister's Employment Generation Programme (PMEGP).
"It is well known that the banks do not disburse money to unemployed youth under the PMEGP. Suitable action will be taken if the banks do not improve the disbursing of loan system to unemployed youth," Das said while replying to a question in the state assembly.
Jalandhar coach builder to make Mercedes buses
By IANS
Jalandhar : A company that was started to make bullock carts way back in 1935 has tied up with global automobile giant DaimlerChrysler to manufacture Mercedes-Benz buses.
The contract between DaimlerChrysler and the Jalandhar based Sutlej Motors Limited (SML) was announced Tuesday in the German city of Stuttgart, the birth place and main manufacturing hub of Mercedes vehicles, reports reaching here said.
Punjab wants to allow contractors to import bitumen
By IANS,
Chandigarh : Concerned over the recent hike in prices of bitumen in the domestic market, which is making road construction projects in Punjab financially unviable, the state's public works department (PWD) is contemplating allowing road contractors to import bitumen.
Sustainable agriculture can be the back-bone of Indian economy
By Amit Dwivedi,
"Who said agriculture is a business of loss. I am saving more than Rs 80,000/- (about USD 1,750) every year and providing bread & butter to my 11 family members who are dependent on me," said Prabhavati Devi, who lives in Sardar Nagar block of Gorakhpur district. She has one and half acres land in which she is producing more than 86 types of crops annually. Prabhavati Devi is doing organic farming, which is a very reliable method of sustainable agriculture resulting in high production at low cost.
Oswal Group buys out Austrian joint venture partner
By IANS,
New Delhi : Indian yarn maker Oswal Group has taken over its Austrian joint venture partner, the now bankrupt textile firm FM Hammerle, Austrian media reports said.
The Group's Rs.3.7-billion flagship, Vardhman Polytex, had announced a joint venture with the Dornbirn-based Hammerle in 2005 for setting up a Rs.2-billion greenfield yarn-dyed shirting fabric facility.
The existing joint venture tilted the sale in favour of the Indian company.
New sharia-compliant investment house to target India, China
By IANS,
Dubai : A new Islamic finance or sharia-compliant investment company targeting the markets of India, China and the Middle East and North Africa (MENA) region has been launched in the United Arab Emirates (UAE).
Amara Holdings, launched by Newhaven Investment House, will focus on pre-IPO, private equity and private placement opportunities.
The company has already put in place key strategic partnerships with Indian, Chinese and MENA partners, according to an Amara statement.
Bata India asks employees to end strike
By IANS,
Kolkata : A day after threatening to suspend operations at its strike-hit Batanagar unit in West Bengal, Bata India Thursday held talks with union leaders and asked them to exhort the striking contract labourers to end the four-day-old agitation.
"The management has told us today (Thursday) that they are willing to listen to the demand of the contract workers, but they have to first withdraw their strike," Bata Mazdoor Union president Subir Chakraborty said.
Justice Krishna Iyer advocates interest-free banking in India
By TCN News,
Kochi: “Islamic finance has proven successful in poverty alleviation and promoting sustainable growth in many countries, including the United States and it is very relevant in our country where 20 million people are starving” said Justice Krishna Iyer while addressing a program recently in Kochi.
Mr. lyer, who is former Supreme Court judge, strongly advocated Islamic banking system saying it is based on humane principles thus good for all of humanity. "Those who support humanism should welcome Islamic banking and finance in India wholeheartedly."
India’s forex reserves up by $1.45 bn
By IANS,
Mumbai: India's foreign exchange (forex) reserves went up by $1.45 billion to $294.98 billion for the week ended Nov 23, the Reserve Bank of India (RBI) data show.
An Assam village making firecrackers for over 100 years
Guwahati : An Assam village has been making firecrackers for over a 100 years and has now got a logo that will help it...
UP to get five new hydro-power projects
Lucknow: Uttar Pradesh will get five new hydro-power projects over the next few years, officials said on Wednesday.
The decision was taken at the meeting...
Coal India Q2 net jumps 16 percent on higher sales
Kolkata: State miner Coal India Ltd (CIL) on Friday said it posted a 16 percent rise in consolidated net profit at Rs.2,543.80 crore for...
Different economic strokes to COVID’s single stroke
By Asad Mirza
While the countries across the globe are grappling with Covid-19’s current situation and its aftermath, they are also focussing on how to...
Vendors are real business partners of BHEL: RK Singh
By Pervez Bari, TwoCircles.net
Bhopal : The Hydro Group in India's giant Public Sector Undertaking Bharat Heavy Electricals Limited, (BHEL), Bhopal unit, organized a Vendors' Meet to rejuvenate unit’s relations with its Vendors.    Â
  Â
R.K. Singh, Executive Director, BHEL, Bhopal inaugurated the Meet whereas M.K. Dube, General Manager (Hydro) presided over the function. S.V. Pandey, General Manager (Hydro-Engg.), senior executives from Hydro Division and vendors from India and abroad participated in this Meet.
  Â
Bhopal : The Hydro Group in India's giant Public Sector Undertaking Bharat Heavy Electricals Limited, (BHEL), Bhopal unit, organized a Vendors' Meet to rejuvenate unit’s relations with its Vendors.    Â
  Â
R.K. Singh, Executive Director, BHEL, Bhopal inaugurated the Meet whereas M.K. Dube, General Manager (Hydro) presided over the function. S.V. Pandey, General Manager (Hydro-Engg.), senior executives from Hydro Division and vendors from India and abroad participated in this Meet.
  Â
NGOs received Rs.78.77 billion in 2005-06
By IANS
New Delhi : Non-Governmental Organisations (NGOs) received Rs.78.77 billion as foreign contribution during 2005-06, the parliament was informed Tuesday.
In a written reply, Minister of State for Home, Sriprakash Jaiswal told Lok Sabha that during this period, under the Foreign Contribution (Regulation) Act, 1976, 13,574 associations did not submit the statutory annual returns of receipt and utilisation of foreign contribution.
Firm offers designer weddings for moneyed Punjabis!
By IANS
Chandigarh : The big, fat, conventional Punjabi weddings should be passé if the 'designer' plans of a Canada-based wedding planner company bear fruit in the state.
Announcing the launch of Flick, an exclusive designer wedding management and theme-based corporate events company, here Thursday, its director Gursimran Bhullar said the firm would create concepts and execute these for people who did not want conventional weddings.
Punjab National Bank international headquarters in Britain
By IANS
New Delhi : India's leading public sector lender Punjab National Bank Thursday announced the opening of its international headquarters in London to bring in financial services to the large number of NRIs residing there.
Indian Immunologicals celebrates silver jubilee
By IANS
Hyderabad : Indian Immunologicals Limited (IIL), a wholly owned subsidiary of the National Diary Development Board, Thursday celebrated its silver jubilee.
The IIL was set up by the NDDB in October 1982 to produce foot and mouth disease vaccine with technical collaboration from the Wellcome Foundation of Britain.
Currently, the IIL ranks 8th among top Indian biotech companies and 6th among biopharma companies.
To mark the silver jubilee, the IIL honoured all senior employees who completed 25 years of service.
BHEL Bhopal unit’s Hydro Laboratory makes significant achievement
By Pervez Bari, TwoCircles.net
Bhopal: Bharat Heavy Electricals Limited, (BHEL), Bhopal unit’s Hydro Laboratory has made a significant achievement by successfully completing the Pump Model Test for Koil Sagar Lift Irrigation Scheme (LIS) Stage-I & II of Government of Andhra Pradesh.
Indore Global Investors’ Summit starts taking shape, work on 38 MoUs begins
By Pervez Bari, TwoCircles.net
Bhopal: The Bharatiya Janata Party ruled Madhya Pradesh Government has claimed that 38 out of 102 MoUs signed during the 'Global Investors' Summit-2007' held in Indore, the financial capital of the state, on October 27 and 28 last year has started taking shape.
Now, remix A.R. Rahman on your Nokia mobile
By IANS,
Mumbai : As part of its endeavour to connect people to their passions, mobile phone major Nokia has joined hands with A.R. Rahman to give young Indians a chance to remix two tracks from the maestro's forthcoming film "Ada... A way of life".
The announcement at a press conference here Monday marks the first time the composer is allowing listeners to remix his creations.
Greendiamz brings bioplastic to India
By IANS,
Bavla (Ahmedabad) : Greendiamz Biotech, manufacturer of environmentally safe plastic products, Monday said it has commissioned a plant here that produces fully biodegradable and compostable plastic material.
Company Chairman Champat Sanghvi told mediapersons that the 5,000-tonnes per annum capacity facility was set up in association with Limagrain-France at a cost of Rs.40 crore.
Cabinet nod for Rs.3.99 bn Arunachal reconstruction plan
By IANS,
New Delhi : The central government Thursday approved a Rs.3.99 billion plan to enable Arunachal Pradesh reconstruct infrastructure damaged by natural calamities in 2005.
Of this, the state will get Rs.3.59 billion as additional central assistance and will have to raise a loan component of Rs.390 million on its own, Information and Broadcasting Minister Priya Ranjan Dasmunsi told reporters after meeting of the cabinet of central ministers, presided over by Prime Minister Manmohan Singh.
The central grant will be released in two equal instalments of Rs.1.79 billion.
He’s visually impaired, but runs a flourishing spice factory
By Vidhu Aggarwal, IANS,
Ghaziabad : Baldev Gulati is visually impaired but that has not come in the way of his running a flourishing spice factory here - and training differently-abled people to help them get jobs.
He started the factory last March in the Navprerna neighbourhood in this suburb of the national capital and has so far trained 50 differently-abled people and facilitated jobs for them. Gulati currently employs 15 workers at his factory, the number depending on his sales and the placement requirements of different industries.
With love and business, from an Indian in Portugal
By Devirupa Mitra, IANS,
New Delhi : As chairman of a Portuguese bank that has been raising finances for Indian companies, Lisbon-based Abdool Magid Abdool Karim Vakil combines love for the land of his ancestors with perfect business sense.
In many ways, the journey that started with Vakil's father migrating from a village in Gujarat to the then Portuguese colony of Mozambique in the late 19th century has come full circle.
Demonetisation order ‘unlawful’: What dissenting judge BV Nagarathna said on SC’s majority ruling
The demonetisation move by the BJP government in late 2016 was cataclysmic for economically marginalised communities in India and led to scores of...
Petrol, diesel prices fall after 10 days
By IANS
New Delhi, July 16 (IANS) Petrol prices fell around 10 paise across the four metro cities on Monday after rising nearly a rupee and a...
IDB workshop on Islamic finance and banking
By RINA,
New Delhi: With growing appreciation pf Islamic banking and finance system among Indian experts and policy advisors, it is a welcome development that a two-day workshop on ‘Islamic finance and banking’ will be organized on April 25 in Jamia Hamdard’s convention center with the cooperation of Islamic Development Bank, Jeddah.
Bhilai power plant stops generation due to coal shortage
By IANS,
Raipur : A 500-MW power plant near here stopped generating electrictiy merely two days after it was dedicated to the nation Sunday because of a severe shortage of coal.
The plant, set up by NTPC-SAIL Power Co Ltd (NSPCL) - a joint venture between power utility NTPC Ltd and Steel Authority of India Ltd (SAIL) - is located at Bhilai in Durg district, some 30 km west of Raipur.
Full load generation of 500 MW began July 12 after Power Minister Sushil Kumar Shinde dedicated the plant to nation at a function.
Indian art market gets a reality check
By Madhusree Chatterjee, IANS,
New Delhi: If there were a brighter side to recession, it's in the Indian art market right now. The bubble has burst, sifting out the investors from the collectors and bringing back that crucial connect between artistic achievements and prices.
Art magazines and publications - a spate of which has flooded the market - are also playing an important role in educating buyers by highlighting "good and unusual art" to a wider cross section.
Apple prices to go up as supply from China drops
By IANS,
Beijing : Apple prices may go up in the international markets as China, a major supplier of the fruit, has reported a drop in their supply this week due to a bitter cold gripping the northern parts of the country.
In Shaanxi province, the country's largest apple growing base, more than 22 counties recorded the lowest temperatures in four decades this week, Xinhua reported.
Government data show 310,000 hectares of farmland were affected, of which 67,000 hectares cannot not be used for harvest at all.
India built biogas plant completed in Myanmar
By Xinhua
Yangon : An India built biogas plant in Myanmar has been completed and will be commissioned soon to electrify a village in northern Mandalay division, Yangon Times reported Wednesday.
The Pesinngone plant in Mingyan, built by India's Tele Corporation, is part of the cooperation projects of a sub-regional socio-economic group - Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC). The bloc has India, Bangladesh, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal.
Apollo to set up hospital in Mauritius
By IANS
Hyderabad : The Apollo Group of Hospitals, one of the leading private healthcare providers in Asia, and BAI Medical Centre Ltd, a subsidiary of British American Investment Co (Mtius) Ltd, Thursday announced their plans to set up a hospital in Mauritius.
British American Hospitals Enterprise Ltd, (BAHEL), a joint venture (JV) of the two groups, will set up and manage the state-of-the-art tertiary care hospital, which will have an investment of $70 million (Rs.2.79 billion).
Nicholas Piramal India changes name to Piramal Healthcare ltd
By IANS
Mumbai : Nicholas Piramal India Ltd will now be known as Piramal Healthcare ltd.
The company in a statement issued to the Bombay Stock Exchange (BSE) Tuesday said that all formalities including the nod from shareholders and central government have been taken for the name change.
According to the company, the group of companies like NPIL Laboratories and Diagnostics Pvt. Ltd has been clumped together into Piramal Diagnostic Services Pvt. Ltd, while another company Gujarat Glass Ltd has been renamed Piramal Glass Ltd.
Mahabaleshwar – the sweet home of Indian strawberries
By V. Vijayalakshmi, IANS
Mahabaleshwar (Maharashtra) : A huge curiosity less than 90 years ago, a good looking red fruit has taken Mahabaleshwar by storm. With more local farmers taking to growing strawberries every year, this western hill station now contributes almost 85 percent of India's total production.
Mahabaleshwar was the perfect summer getaway for the Bombay province during the British Raj. Located 120 km from Pune and 250 km from Mumbai, this resort town, situated on a plateau, is not just picture perfect, it is also a welcome change from the sticky Mumbai summer.
Coimbatore gets first Adlabs cinema
By IANS,
Mumbai : Adlabs Cinemas, part of the Reliance-Anil Dhirubhai Ambani Group, took over Tamil Nadu's prestigious K.G. Cinemas in Coimbatore and opened its first multi-screen property in the city.
The four-screen cinema has been re-named K.G. Adlabs.
EU clears proposed acquisition of Galvex Estonia by ArcelorMittal
By EuAsiaNews
Brussels : The proposed takeover by the world's largest steel producer of a very small company making galvanized steel products would normally pass largely unnoticed.
But it has highlighted once again the key role of the European Union (EU) authorities in regulating company mergers and acquisitions, to ensure competition across the 27-nation EU single market.
The companies in question are ArcelorMittal and the Galvex group, based in one of the EU's northern member states, Estonia.
Indian expats in Kuwait write to FM for setting up a joint investment fund
By TwoCircles.net Staff Reporter,
Kuwait: Indo – Kuwait Friendship Society has written a letter to Finance Minister Arun Jaitley urging him to take initiatives...
On Quit India Day, Modi-Shivraj asked to quit Narmada Valley
By TCN News
Bhopal: Narmada valley reverberated with the slogan “Modi-Shivraj Go Back” – “Hamare Gaon me Hamaara Raj, Vaapis Jao Modi Shivraj”. The slogan...
Chopper service to ferry the rich between new Bangalore airport and city
By Fakir Balaji, IANS,
Bangalore : Deccan Aviation, India's leading private charter firm, will launch a helicopter service this month to ferry passengers between the new Bengaluru airport and Bangalore city, about 40 km away.
The service will help the "well-heeled" save on time as its takes from 90 to 120 minutes to travel by road to the city. The helicopter will take 15-20 minutes and will operate from three locations in the city.
Gujarat Road Transport Corp earns record single-day income
By IANS,
Ahmedabad : Gujarat State Road Transport Corp earned a record single day income of Rs.55.4 million Nov 3 on La Pancham, the fifth day of the new year, according to the Hindu calender.
GSRTC's daily income last crossed the Rs.50-million mark in 2005 and 2007.
On Nov 12, 2005, GSRTC earned Rs.50.6 million while the single day income touched Rs.51.1 million Nov 26, 2007, GSRTC secretary P.D. Patel said.
Patel said during Diwali, GSRTC operated extra 3,173 trips, which led to an additional income of Rs.10.34 million.
IVRCL Infra bags Rs.8.376 bn order from ONGC
By IANS,
Mumbai : IVRCL Infrastructure has secured a Rs.8.376 billion contract from ONGC Petro Additions Ltd, a subsidiary of Oil and Natural Gas Corp (ONGC), for its Dahej Petrochemical Complex project.
"The company has bagged the order from a subsidiary of ONGC - ONGC Petro Additions Ltd," IVRCL said in a filing with the Bombay Stock Exchange Monday.
The UK-based Foster Wheeler is the consultant of the project, which is scheduled to be completed in 21 months.
Raipur airport to be upgradeed with Rs.1.36 bn investment
By IANS,
Raipur : The Airports Authority of India (AAI) will invest Rs.1.36 billion for construction of a new integrated terminal at the Raipur airport, Civil Aviation Minister Praful Patel said here Friday.
"The AAI will be investing Rs.136 crore (Rs.1.36 billion) for a new integrated terminal at Raipur airport to make it an international-standard airport," Patel said here at a function to lay the foundation stone for the new terminal building.
Bosch to supply fuel-injection, brake system for Tata’s Nano
By DPA
Stuttgart (Germany) : German car components firm Bosch said it would provide fuel-injection technology for the Tata Nano, billed as the world's cheapest car that was unveiled in India Thursday.
The Stuttgart-based company said it would also supply the braking systems and part of the car electrics for the diesel and petrol-driven versions of the 2,500-dollar vehicle.
A Bosch spokesman said the modern fuel injection technology would enable the five-seater to meet emissions standards comparable with the Euro-IV norm expected to take effect in India in 2010.
Steel tycoon Mittal to sell his London home
By IANS
London : Steel tycoon Lakshmi N. Mittal is selling his sprawling 40-million-pound (nearly $61-million) house in London in protest against plans to build an apartment block next door, British newspapers reported Friday.
Mittal, among the world's richest men, led the opposition of his neighbours at The Bishops Avenue - known as 'Billionaires' Row' - when property developers Barratt Homes applied for permission to build a block of flats.
Cabinet clears World Bank project for Swachh Bharat
New Delhi : The union cabinet on Wednesday gave its clearance for a $1,500 million (over 100 billion rupees) World Bank project to support...
To prove potential of Islamic Banking in J&K, valley-based advocacy group starts district-wise survey
By Raqib Hameed Naik,
Srinagar: Islamic Banking Kashmir (IBK), an awareness, research and advocacy group which aims to facilitate implementation of Islamic banking &...
Bangladesh raises petroleum prices
By IANS,
Dhaka : The Bangladesh government Sunday night raised prices of all petroleum products by five to eight taka per litre, the energy ministry said.
Pressmart Media signs pact with US magazine
By IANS,
Hyderabad : Pressmart Media Ltd, a city-based digital delivery service provider for publishers, has signed an agreement with Editor and Publisher magazine of the US to produce a same-as-print electronic edition of the American trade publication, it was announced here Wednesday.
Editor and Publisher covers all aspects of the US newspaper industry, including business, newsroom, advertising, circulation, marketing, technology, online and syndicates.
Based in New York City, the magazine was first published in 1901.
Indian supermarkets seeking Australian food, beverages
By Neena Bhandari, IANS,
Sydney : From Australia's iconic vegemite to virgin olive oils, snack foods to gourmet sauces, and wines to fresh juices, quality Australian food and beverages are coming to Indian supermarkets this festive season.
Three Indian supermarket chains - SPAR, Hypercity and Nature's Basket - and Indian import and distribution company Epicure Foods, have spent 10 days in Melbourne, Tasmania and Sydney to source quality Australian products for their fast-growing stores.
Cookies, confectionery, cereals, canned vegetables, juices and other products from
Ashok Leyland enters used truck market
By IANS
Jaipur : Ashok Leyland, the flagship firm of the Hinduja group in India, Monday announced its entry into the used vehicles market, making it the first commercial vehicle manufacturer in the country to do so.
Tea Park coming up in Bengal
By IANS
Kolkata : The Tea Board of India and the West Bengal government will set up a tea park in north Bengal to facilitate direct export of tea from the region.
"The initial cost of the project will be about Rs.200 million. The project would be developed over 50 acres in Siliguri in north Bengal. The Tea Board will submit a draft about the project to the West Bengal government," minister of state for commerce and industry Jairam Ramesh told reporters here Saturday.
Animaster to tap Kerala market for animation training
By IANS
Thiruvananthapuram : Animaster, a leading animation training academy, has drawn up ambitious plans to tap the Kerala market.
According to Sebastian Thomas, general manager, Animaster, channel development, Kerala is a key market for their national expansion plan.
"Despite the state's high literacy rate and skilled manpower, it remains an untapped market for animation. We currently operate two centres in Kerala and plans are on the anvil to set up seven franchisees in key cities by the year end," said Thomas.
After ITC unit, Hindustan Lever faces lockout in Nepal
By Sudeshna Sarkar, IANS
Kathmandu : After the closure of the tobacco factory of ITC's subsidiary in Nepal, another multinational now faces an indefinite lockout in the labour trouble-torn Himalayan nation.
Nepal Lever, Hindustan Lever's subsidiary in Nepal, has had its factory in Basmadi village in central Makwanpur district padlocked since Sunday.
The closure was called by a group of youths who are asking the management to give priority to locals during employment.
Singapore in petrochemical tie-up with India and Kuwait
By DPA
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.
M&M launches Sprit of Freedom scheme for farmers
By IANS
Mumbai : Leading multi-utility vehicle maker, Mahindra & Mahindra (M&M) flagged off Monday a week-long programme aimed at presenting farmers with a host of benefits, the company said.
The programme includes zero percent interest schemes on loans, exchange of old tractors, labour free service and health check-up for farmers, the company said Monday.
Czech Republic wins arbitration with ArcelorMittal
By DPA
Prague : The Czech Republic won an international arbitration with Indian steel giant ArcelorMittal over compensation for a minority share in the group's Czech steel mill, Czech Finance Minister Miroslav Kalousek said Wednesday.
ArcelorMittal demanded 5.79 billion koruny ($355.37 million) in compensation for a nearly 14-percent share in its steel mill in the northeastern city of Ostrava, which the metallurgical group acquired from the Czech state in 2003.
Syndicate Bank net dips in 2014-15
Bengaluru : State-run Syndicate Bank posted net profit of Rs.1,523 crore for 2014-15, down 11 percent against Rs.1,711 crore in the previous fiscal.
"Our net...
Activist questions Environment Minister on govt plan to redefine forest
By TwoCircles.net staff reporter
Bangalore: Leo Saldanha, an environmental activist from Bangalore received a brief response from Prakash Javadekar, Minister of State (IC) for Environment,...
Islamic banking in India must be promoted at grassroots level to showcase its potential
By Amjad Suri for TwoCircles.net
The issue of establishing Islamic banking (bank based on Shari’ah) in India is not new. Various efforts have been...
Regulator’s report on valuation of insurance firms next month
By IANS,
Kolkata : The country's insurance regulator will introduce fresh guidelines for valuation of insurance companies, a top official said here Thursday.
"A committee of actuaries headed by me is currently working on a new norm for the valuation of companies. The report would be ready next month," R. Kannan, member of the Insurance Regulatory Development Authority (IRDA) (actuary), said.
Work on Chhattisgarh power plant by year-end
By IANS,
Raipur : Construction work for a 1,600 MW thermal power plant in Chhattisgarh to be set up by the Karnataka Power Corp Ltd (KPCL) will begin towards the end of this year, a Chhattisgarh official said Tuesday.
The Karnataka government had signed the deal with Chhattisgarh in September 2008 to build two units, each of 800 MW, at Godhna in Janjgir-Champa district. The Bharatiya Janata Party (BJP) rules both states.
The KPCL project is said to help Karnataka get over a widening power deficit.
Women’s self-help groups shore up farm communities
By V. Vijayalakshmi, IANS,
Pune : The woes of the agricultural community in rural Maharashtra may be far from over, but a Mumbai-based trust is helping out a sizeable number of farm families through women's self-help groups (SHGs).
The SHGs, being funded by the Yashwantrao Chavan Pratishthan, have instilled confidence in thousands of poor farm families by forging a tie-up with Big Bazar, one of India's biggest retail outlets for supply of homemade products.
Jai Balaji plans new steel plant in West Bengal
By IANS,
Kolkata : Steel manufacturer Jai Balaji Industries hopes to start work on a new integrated steel, cement and power plant in Purulia in November if the West Bengal government releases the required land soon, a top company official said here Thursday.
"We hope the WBIDC (West Bengal Industrial Development Corporation) will hand over the requisite land soon so that we can start work on the Purulia project from November," Jai Balaji chairman and managing director Aditya Jajodia told reporters on the sidelines of the company's annual general meeting.
Muslims constitute much larger proportion of the poor and deprived in West Bengal: Amartya...
By Zaidul Haque, Twocircles.net
Kolkata: Muslims constitute a much larger proportion of the poor and the deprived in West Bengal, Nobel Laureate Amartya Sen...
Maharashtra proposes 16 per cent quotas for Marathas
Mumbai, Nov 29 (IANS) The Maharashtra government has proposed to give 16 per cent reservations to the politically influential Maratha community under a new...
India opens first LPG cavern storage at Vizag
By IANS
New Delhi : Petroleum Minister Murli Deora Monday inaugurated the Visakhapatanam-located liquefied petroleum gas (LPG) cavern storage of South Asia LPG Company Pvt Ltd, a joint venture of state-owned refiner Hindustan Petroleum Corp Ltd (HPCL) and French oil major Total, said an official statement.
The minister also participated in the Golden Jubilee celebrations of HPCL's Visakhapatnam refinery.
"The facility has helped the country join the select group of advanced nations," Deora was quoted as saying in his address on this occasion in the statement.
Factsheet on the Tata group
By IANS
New Delhi : A factsheet on the Tata group, India's largest private sector business conglomerate, founded by Jamsetji Tata in the mid 19th century:
Past titans: Jamsetji Tata, Sir Dorab Tata, Sir Ratan Tata, J.R.D. Tata, Naval Tata
Chief Executive: Ratan Naval Tata, 70
Headquarters: The landmark Bombay House in downtown Mumbai
Promoter companies: Tata Sons and Tata Industries
Shareholding: About 66 percent of equity capital of Tata Sons held by philanthropic trusts endowed by members of the Tata family
Infiniti to open 20 Croma retail stores next fiscal
By IANS,
Hyderabad : Infiniti Retail Ltd, a 100 percent subsidiary of Tata Sons, plans to open 20 Croma stores with an investment of Rs.600-800 million (Rs.60-80 crore) in 2009-10, a top official said Thursday.
"The opening of 20 Croma stores by March 2010 will take the total number of stores across the country to 50," Infiniti Retail chief executive and managing director Ajit Joshi told reporters after opening two Croma stores here.
Tata Sons has invested Rs.2.2 billion in this multi-brand durables and electronics chain.
Bharti, Wal-Mart open first joint store in India
By IANS,
Amritsar : India's Bharti group and Wal-Mart, the world's largest retailer, opened their first cash-and-carry joint venture store here Saturday on an investment of $7 million, and are planning to open at least 15 stores in the next three years.
The stores will be run under the brand name of Best Price Modern Wholesale.
Funds for minority welfare up by 74 percent
By IANS,
New Delhi : The budget has increased the outlay for the minority affairs ministry from Rs.1,000 crore last fiscal to Rs.1,740 crore with a focus on educational schemes.
The funds have been hiked to implement projects for the welfare of the minorities, Finance Minister Pranab Mukherjee announced while presenting the union budget Monday.
"The plan outlay for the Ministry of Minority Affairs has been enhanced from Rs.1,000 crore in 2008-09 to Rs.1,740 crore for 2009-10, registering an increase of 74 percent," he said.
‘Satyam scam has scared small investors off stock markets’
By Mohammed Shafeeq, IANS,
Hyderabad : India has a huge potential to involve retail investors in the stock markets but they are not coming out to invest because they have learnt a lesson from the Satyam Computer fraud, feels Madhav Mehra, president of the London-based World Council for Corporate Governance.
"The stock market participation of Indians is barely two percent while in the US it is 45 percent," Mehra told IANS during a visit here.
Tata Motors, Ashok Leyland promise early supply of buses
By IANS,
New Delhi: The Delhi High Court Tuesday got an assurance from Tata Motors and Ashok Leyland that they will quickly supply low-floor buses as sought by the Delhi government.
A division bench of Justices Vikramjit Sen and Manmohan Singh asked Tata Motors and Ashok Leyland to file a detailed affidavit as to when they will be able to provide the buses to the government so that phasing out of the Blueline buses, dubbed "killer buses" by the public, can be done at the earliest.