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Smart thinking

The Railways is not short of smart ideas. After using the inside walls/doors of trains like the Rajdhani Express to place ads, another smart idea is to make use of the long waiting period at its telephonic information services. Those calling 139, the information service, are asked to enter their choices (1 for Hindi, and so on) on various prompts — after a while, ads of Tata Indicom phones get played.

Ministries look to jointly fund railway projects using NREGS

The railway ministry is working on a proposal with the Ministry of Rural Development to jointly fund key railway projects by utilising the government’s flagship National Rural Employment Guarantee Scheme (NREGS).

Invest in fewer schemes

I am a 65-year-old retired engineer and live with my wife, 58. Both my children are married and well-settled. My wife and I have a mediclaim policy of base value Rs 1 lakh each (now approximately Rs 1.5 lakh). We would like to be financially independent all our lives. Advise me as to any change required in my financial plan, particularly with regard to regular investment in mutual funds.

Expect moderate returns in 2010

Consequent to the sharp run up in markets in 2009, investors will have to be careful in picking stocks while lowering their return expectations

Reliance Cap net drops 52%

Reliance Capital, the financial services arm of the Reliance-Anil Dhirubhai Ambani (R-ADA) group, reported a 52 per cent fall in consolidated net profit at Rs 63 crore for the quarter ended December 31, 2009, against Rs 132 crore in the same quarter the previous financial year.

Insurance firms may have to wait longer to list

The Union government has decided not to make any change in the listing rules for insurance companies till a parliamentary panel on the subject has completed its job.

Car insurance may come with accident cover

Road ministry mulls a fee of Rs 15 for such a cover.

Correction to stay on course

The Sensex and the Nifty closed in the red on Friday on profit-booking in technology stocks and lack of interest in other pivotals at current levels. The trading volume on the F&O segment remained lackluster as the Nifty provided little scope for trading since it moved in a tight range of 20-30 points on Friday.

Nuke deal, Pak, terrorism on agenda as PM meets Obama

Implementation of the landmark civil nuclear deal, the situation in Pakistan and terrorism emanating from there would be high on the agenda as Prime Minister Manmohan Singh and President Barack Obama meet here tomorrow for talks during which they are expected to give a major push to the Indo-US strategic ties.

Life Insurers\' new premium up 75% in Dec

Aided by strong growth in sales of unit-linked insurance plans (Ulips), new business premium income of life insurers went up by 75 per cent during December to Rs 12,201 crore against Rs 6,961 crore during the corresponding period last month.

ING Life aims 15% growth in new biz premiums

Aiming to break even in the next three years, ING Life is targeting a 15 per cent increase in its new business premiums, a top company official today said.

Interest rates unlikely to rise in FY10: Bankers

When Reserve Bank of India Governor D Subbarao meets top bankers in the customary pre-policy meeting on October 12, he can draw comfort from the fact that a majority of the bankers think interest rates may not be hiked till the end of the financial year.

NPCIL needs Rs 1 lakh crore for capacity addition by 2020

India’s nuclear power generator, Nuclear Power Corporation (NPCIL) has projected an investment of Rs 1 lakh crore for nuclear capacity addition of 10,000 Mw by 2020. The cumulative funding for these projects would be on a 70:30 debt equity ratio.

When big is big

Scale has always fascinated Paresh Maity, but now he’s experimenting with newer genres in paintings and sculpture.

Hatch match

I’m considering buying a hatchback for local commutes for my children. My requirement is for a car that is easy to drive, fuel efficient, low on maintenance and has a refined engine. I am considering the Maruti Suzuki Alto, the Hyundai i10, Hyundai Santro, Maruti Suzuki A-star and Chevrolet Spark. The Alto has good manoeuvrability but seems to be outdated. My budget is Rs 3-3.50 lakh. Which car would you suggest?

Wood and paint world

Two artists explore different mediums in an exhibition that explores their respective skills.

Mid-cap, small-cap indices ourperform Sensex

The Sensex touched a fresh 22-month high of 17,790, However, it were the mid-cap and small-cap stocks which stole the limelight this week.

Mahindra Satyam: Settling liabilities

Tech Mahindra’s equity infusion into Mahindra Satyam should comfortably bankroll the pay-off.

13th Finance Panel report to be reflected in Budget: FM

Finance Minister Pranab Mukherjee today said recommendations of the 13th Finance Commission, which submitted its report to President Pratibha Patil earlier in the day, will be reflected in the Budget 2010-11.

13th Finance panel submits report on tax receipts

The 13th Finance Commission today submitted its report to President Pratibha Patil on devolution of central tax receipts between the Union and the state governments.

SCI Q3 net dips 53% to Rs 87 cr

Shipping Corporation of India (SCI) today reported a decline of 53 per cent in its net profit at Rs 87 crore for the third quarter ended December 31, 2009.

Infopark Kochi Phase II all set to take off

Kerala chief minister to lay stone for the project on Nov 28

Patni appoints Vijay Mehra as EVP

IT and BPO service provider, Patni Computer Systems, today appointed Vijay Mehra as Executive Vice President and Head of Business Verticals.

State yet to form RPDAC for 13 industries

The Orissa government is yet to form the Rehabilitation and Periphery Development Advisory Committees (RPDAC) for 13 large projects in the state.

Essar considers selling unit stakes

Move to be part of a global expansion plan

Essar considers selling unit stakes

Move to be part of a global expansion plan

DTH operators want a stronger association

Complaining of high taxation and inability to lobby effectively before government agencies, Direct-to-Home (DTH) television companies have called for strengthening the DTH Operators Association of India (DOAI), the apex body of all DTH operators.

Fixing Your Focus

Don’t get carried away by just the interest rate on offer when investing in company fixed deposits

T N Ninan: Auction mining rights

There is no other way to stop corruption.

Tata Motors FY09 net shrinks 51% on lower vehicle sales

Tata Motors reported a 50.7 per cent decline in net profit to Rs 1,001.26 crore for the year ended March 31, 2009 on a 10.7 per cent decline in net revenues as sales of commerical vehicles were hit by the credit crunch, higher interest rates and the economic downturn.

Mamata announces measures to tone up rail functioning

The Railway Budget was today passed by the Lok Sabha with Minister Mamata Banerjee announcing a slew of measures to tone up the functioning of the Railways in terms of amenities and safety and deciding to set up an expert committee to prepare a blueprint for future.

Maruti plans to roll into carbon credit trade

Maruti Suzuki is the latest auto major in the country preparing for trading in carbon credits.

I-banks, consulting, PE firms vie for IIM-C students

The Indian Institute of Management, Calcutta (IIM-C), which started its summer placements process today, saw offers trickling in from the world’s leading finance and consulting firms on day one.

Air India board meets on turnaround plan

The Air India board met here today and decided to initiate a series of major steps to cut costs and enhance savings as it gets ready to receive the first tranche of government"s equity infusion worth Rs 800 crore.

Golden oldie

Kumar Gallery in Delhi turns 55.

Cooperative banks in Hry to provide loans of Rs 8,600 cr

Haryana Cooperation Minister Paramvir Singh said that the central cooperative banks in the state would provide a loan of Rs 8,600 crore during the current financial year to the farmers. These banks had provided loans worth Rs 4,306.60 crore during the last financial year to the farmers under various schemes.

Retail recovery still some time away

The retail sector in Kolkata has adopted a wait and watch situation with retailers still wary of what lies ahead. What started as a big set-back for the retail industry in end-2008 with several malls and retailers shutting shop, the year 2009 was particularly bad for the industry with several cancellations of booked spaces and deferment of sanctioned projects.

MTNL for JVs in India, overseas markets: MoU

Amid its falling revenues and net profit, state-run MTNL today said it is keen to expand its areas of operations by forming strategic alliances and joint ventures both within India and overseas.

Tata Power Q1 PAT up 98% at Rs 377 cr

Decrease in fuel prices in the Mumbai licence area pulled down Tata Power"s revenues in Q1 FY10 to Rs 2,015.62 crore as against Rs 2,026.13 crore.

JSW Energy makes a lacklustre debut

JSW Energy ended Day 1 at Rs 101, a premium of Rs 1 to the issue price.

Patni, PTC & UTV Q1 result

Patni net up 14 per cent

Nalco Q1 net profit plunges 76% to Rs 126 cr

National Aluminium Company Ltd (NALCO) today reported a fall of 76 per cent in its net profit to Rs 126.45 crore for the first quarter ended June 30, over the corresponding period a year ago.

RCOM gets shareholders nod for share sale

Anil Ambani group company Reliance Communications today said its shareholders have approved raising funds from institutional investors through sale of shares worth up to Rs 15,000 crore at current market price.

RCom to expand mobile TV offerings on GSM network

Reliance Communications is in advanced talks to sign a technical alliance with Apalya Technologies to offer mobile television (MobiTV) on its recently launched GSM network.

Parsvnath Q2 net up three fold to Rs 61.43 cr

Real estate firm Parsvnath Developers today reported a nearly three-fold growth in consolidated net profit at Rs 61.43 crore for the second quarter ended September 30, and said it expects the coming quarters to be more robust.

India Inc eyes Sri Lanka for projects

A host of Indian companies are planning to develop projects across sectors in the island nation of Sri Lanka.

ITC open to raising stake up to 25% in EIH

Following reports that the cigarettes-to-hospitality major, ITC, could make a hostile bid to increase its stake in EIH, which runs the Oberoi hotel chain, ITC Chairman Y C Deveshwar today asserted that his company could even raise its stake up to 25 per cent in EIH.

Jairam Ramesh to meet counterparts from Brazil, South Africa in China

India and China are on the same page as far as negotiations are concerned but not on the emissions front, said Environment and Forests minister Jairam Ramesh. He was speaking on the sidelines of the CII Sutainability Summit held here today.

'Can you place your faith in me?'

The Cast and crew reminisce about working on the sets of Vishal Bharadwaj"s latest film, Kaminey, which opened this week to positive reviews.

'Can you place your faith in me?'

The Cast and crew reminisce about working on the sets of Vishal Bharadwaj"s latest film, Kaminey, which opened this week to positive reviews.

ED conducts search ops at Emmar-MGF offices

The Enforcement Directorate (ED) today conducted search operations at offices of real estate company Emaar-MGF, a joint venture between MGF India and the Dubai-based Emaar. These operations were of a routine nature and were not linked to the investigation into the dealings of the former Jharkhand chief minister Madhu Koda, the company said in a statement. Some news reports said the search operations were triggered by the directorate finding documents that showed Koda’s associates on the boards of some Emaar group companies.

Airtel cuts mobile roaming rates by 60%

Telecom major Bharti Airtel today cut mobile roaming rates by 60 per cent for its 115 million users, opening a new turf in the ongoing tariff war.

Network quality more imp than price war: Nielsen

Network quality remains the top priority for consumers when choosing an operator, even as most telecom operators are busy lowering call rates to outdo rivals, according to research firm Nielsen.

AT&T, Intel join telcos in pre-bid meet for 3G spectrum auction

US telecom major AT&T and the world’s largest chip maker, Intel, were among the foreign players that showed interest today in the pre-bid conference for third generation (3G) spectrum, which kick-started the process for the 3G auction in the country.

Essar\'s african safari

The company has ambitious plans for mobile telecom services in Africa. Will it succeed?

Aditya Birla PE Fund to pick up 0.5% in BSE

Aditya Birla Private Equity Fund, which is looking to raise Rs 1,250 crore, has finalised some investments, including 0.5 per cent in the country’s oldest exchange, the Bombay Stock Exchange, said sources close to the development.

Life and times of a Pi

Private equity fund Pi Capital is often described as “the investment club of the wealthy”. Its CEO David Giampaolo has his eye firmly trained on India, he tells Archana Jahagirdar

Natco Pharma launches anti-swine flu drug, Natflu

Drug maker Natco Pharma today said it has launched anti-swine flu drug Natflu.

Bhuvan makes a splash in cyberspace

Seven days after it was launched, Isro’s answer to Google Earth gets nearly 23,000 downloads a day

StanChart H1 profit before tax jumps 10% to $2.83 bn

Banking major Standard Chartered today reported a 10 per cent rise in profit before tax to $2.83 billion for the first six months of 2009.

Sun TV Q1 net up 17% at Rs 120 cr

Media Group Sun TV Network today reported a 16.83 per cent growth rate in net profit to Rs 119.80 crore in the first quarter ended June 30, 2009, as compared to Rs 102.54 crore in the corresponding period a year ago.

NPS annual fee may come down by Rs 70

The annual maintenance charges for subscribers of the New Pension System (NPS) may come down by Rs 70 from April. National Securities Depository (NSDL), the record-keeper for NPS, expects over one million people to join the scheme in the next six months, leading to a reduction in the account maintenance fees from Rs 350 to Rs 280.

HCL Infosystems to raise Rs 847 cr via warrants issue, QIP

IT company HCL Infosystems today said it will raise funds to the tune of Rs 847 crore by private placement of shares with qualified buyers and issuing warrants.

India to get more nuke reactors from Russia

New defence pact likely as Manmohan visits Moscow on December 7.

Mobile number portability not before Dec 31: DoT

The government today extended to December 31 implementation of mobile number portability, a facility allowing subscribers to retain their numbers even after changing service providers.

Provogue wears a new attitude

Apart from a new brand ambassador, the apparel maker has gone in for aggressive store expansionProvogue has done it again. It has switched its brand ambassador, this time from Saif Ali Khan to Hrithik Roshan, for its new campaign. The brand needed the buzz as much for its new line as for ensuring that its aggressive store expansion drive matches the growth of curious consumers.

Fresh trouble in 3G; may be non-starter

Fresh trouble appears to be brewing over non-vacation of spectrum by Defence Ministry, a move that could frustrate the Telecom Ministry"s scheduled auction of third generation (3G) radio frequency next month.

Vanita Kohli-Khandekar: The really regressive stuff on TV

Ten years ago if you had compared the film and television broadcasting businesses in India, you wouldn’t have given films a second chance. Today the film industry looks attractive while the TV business seems to be falling apart.

Advance tax kitty rises 20% during Apr-Dec

The advance tax collection from India Inc rose 20 per cent during the first nine months of the current fiscal compared to the same period last year, with automobiles, consumer goods and metals leading the pack.

Mahindra forms JV with Chinese tractor firm

Production to begin in 12-15 months; second such venture.

Tata Motors, M&M eye fiat plant

Indian automobile majors Tata Motors and Mahindra & Mahindra (M&M) have shown interest in taking over the Termini Imerese plant owned by Italy’s largest car maker Fiat.

M&A and PE deal values halve in 2009

Weighed down by the slump in economic activity during the first half of the year, the value of private equity (PE) and mergers and acquisitions (M&As) deals dropped 48.96 per cent to $21.20 billion from $41.54 billion during 2008.

Private equity inflow into smes drops by 32 per cent

The number of deals came down to 80 in 2009, from 127 in 2008.

Cabinet may consider Jet proposal to raise Rs 2,000 cr

A proposal of Jet Airways to raise $400 million (about Rs 2,000 crore) from foreign investors may come up before the Union Cabinet when it meets here tomorrow, official sources said today.

6 of top 10 cos add Rs 24k cr in m-cap; Airtel biggest gainer

Six out of the top 10 companies added over Rs 24,000 crore to their market capitalisation last week with telecom giant Bharti Airtel alone contributing one-third of the gain.

TTSL, RCom, others owe Rs 603 cr; Airtel pays highest revenue

Tata Teleservices, Reliance Communications and other private mobile telecom operators owe over Rs 603 crore to the government towards outstanding spectrum charges and licence fee for the last three years.

17,370 critical for upside

The stock market was volatile and moved in a narrow range during the week. Global cues were mostly subdued, and news flows were largely positive, resulting in limited downsides on weak days. However, the indices failed to give a clear breakout on the upside as well.

L N Mittal to gain 1 bn pound on carbon credits

Indian steel tycoon Lakshmi N Mittal will get a 1 billion pound windfall from a European scheme to curb global warming under the "carbon credits" given to it.

Suven in talks with global drug makers for licensing deal: CEO

Drug maker Suven Life Sciences is in talks with four global pharma majors for a licensing deal for its Alzheimer drug SUVN-502, a top company official said today.

Shipping: All hands on deck

The upswing in Baltic Dry Index numbers recently to a 14 month high closing at 4661 on 19 November 09, raised hopes that a revival for the shipping sector is afoot sending shipping stocks zooming. Freight and tanker rates dropped sharply in July - September 09 quarter, but gained strength in October 09 which has sustained through November 09 as well. They hit 10 year lows in the December 08.

Bharati, ABG get Sebi nod for open offer

Bharati Shipyard and ABG Shipyard have got the market regulator’s nod for their open offer bids to buy additional stake in Great Offshore.

Orissa to roll out Rs 100 crore e-registration project

The electronic registration (e-registration) project in the state is set to become a reality soon as the state government would sign the concession agreement with IL&FS- Infrastructure Development Corporation (IDC) within 15 days for implementing the Rs 100-crore project.

Maytas Infra bags Rs 790 cr road project

Infrastructure development firm Maytas Infra today said it has bagged an order worth Rs 790 crore from IL&FS Transportation Networks (ITNL) for road construction work.

Wkly Tech Analysis: Weakness seen in first half

Markets rallied smartly at the beginning of the week owing to strong gross domestic product numbers and easing Dubai debt woes. The benchmark indices consolidated at higher levels in the second half of the week.

Retail investors give IPOs a miss

Reason: Few issues have enabled investors to make listing gains.

Govt not to involve World Bank in tiger conservation

India does not plan to move the World Bank for getting aid for conservation of tigers in the country. “Personally, I was very keen that the World Bank should help us in providing funds, at least for ensuring livelihood for villagers living on the fringes of the tiger reserves, so that they do not try to return to their original habitat (reserves).

More than a fixed deposit

This erstwhile plain vanilla product has been made attractive by banks through bundled deals and flexible options

Forex reserves up by $1.379 bn to $286.723 bn

India"s foreign exchange reserves rose by $1.379 billion for the week ended November 27, to $286.723 billion compared to $285.344 billion in the previous week.

PPT files case against owners of sunken vessel

BS Reporter / Kolkata/ Bhubaneswar October 12, 2009, 0:30 IST

Coal India to go \'Public Ltd\' before divestment

Paving way for its disinvestment, the country"s largest coal miner, Coal India, will soon become a "Public Ltd" company from a private one at present.

Forex reserves up by $1.023 bn to $285.414 bn

India"s foreign exchange reserves increased by $1.023 billion to $285.414 billion for the week ended November 6.

ONGC Videsh to join Chinese gas pipeline from Myanmar

ONGC Videsh, the overseas arm of state-run Oil and Natural Gas Corp (ONGC), may pick up a stake in the $1.95 billion gas pipeline that China is building for ferrying natural gas found off the Myanmar coast.

Big bucks and Bollywood

In the last month of 2009, the Hindi film industry promises lots of fun, drama and action.

Mixed week for Smart Portfolios

With the exception of Ajay Parmar, fund managers found it difficult to negotiate the volatile markets. The Smart Portfolios benchmark, the S&P CNX 500 rose by 0.75 per cent during the week. An investment of Rs 10 lakh in the benchmark at the start of Season II on September 1, 2009, is today valued at Rs 10.80 lakh, a gain of 8 per cent.

\'Bottom-up market ripe for investors\'

In the final interview in the current series of Smart Portfolios, Phani Sekhar, fund manager, PMS, Angel broking talks about his investing strategy, sectors he is bullish on and how investors should approach the market.

Concrete investments

The worth of a company in the infrastructure sector needs careful evaluation.

Surjit S Bhalla: Much ado about nothing

Surjit S Bhalla / New Delhi December 5, 2009, 0:50 IST

Shell transferring thousands of jobs to India, Phillipines

In order to reduce costs, global oil major Shell will soon transfer additional office jobs from Houston and elsewhere to India and the Philippines.

Hyderabad civic polls peaceful

The first elections to the Greater Municipal Corporation of Hyderabad, formed by merging 12 surrounding municipalities in April 2007, ended on a peaceful note and polled 42 per cent. Counting will be held on November 26.

Aditi Phadnis: Cash and carry CM

Aditi Phadnis / New Delhi October 17, 2009, 0:32 IST

\'Govt taking steps to avoid delay in issuance of passports\'

The government today admitted that there is a delay in issuing passports in a few passport offices and assured that remedial measures are being taken to avoid the delays.

Cognizant net up 21 per cent

Even as IT bellwether Cognizant Technology Solutions raised its outlook for 2009-10, it reported a 21 per cent growth in net profit for the quarter ended September 30, 2009, to $136.6 million compared with $112.8 million during the corresponding period a year ago.

\'Passport Seva Project\' to be rolled out in January

After much dilly-dallying, the ‘Passport Seva Project’, which aims at expediting the process of issuance of passport by digitising the passport services, would be rolled out by early 2010.

SEC shares info with CBI on Satyam scam probe

A three-member team of United States Securities and Exchange Commission (SEC), America"s federal agency to regulate the securities industry in that country, exchanged information with the CBI probing into the multi-crore accounting scam at Satyam Computer here.

SEC shares info with CBI on scam probe

A three-member team of United States Securities and Exchange Commission (SEC) exchanged information with CBI, which is probing the multi-crore accounting scam at Satyam Computers here.

Kargil scam: CBI files fresh status report in SC

CBI has filed a fresh status report before the Supreme Court into alleged irregularities in defence deals, which caused a loss of around Rs 2,000 crore to the state exchequer, entered into in the wake of the 1999 Kargil conflict.

This number does not exist

It’s a sign of the changing power equations in the telecom ministry after the CBI raids on it and the investigations into the allotment of spectrum to a handful of firms — Communications Minister A Raja’s Private Secretary R K Chandolia’s name no longer figures in the list on the ministry’s website. Till a few weeks ago, if you logged on to the ministry’s website and clicked on ‘contacts’, you’d find Chandolia’s name against the designation ‘PS’. Of late, however, there are no names/numbers in this slot.

\'Rising foreign inflow no cause for worry\'

The Finance Ministry today said the surge in foreign capital inflow in the country, powered by initial recovery in the global economy, is not a cause for concern at present and no specific action is required to arrest it.

Where do I begin?

“What does the consumer want? What does the market want?”

'It is wise for India to go for greater energy efficiency'

S Kalyana Ramanathan / September 24, 2009, 0:08 IST

Andhra Cabinet sworn in again; Rosaiah assumes office

All the ministers of the erstwhile Cabinet of late chief minister YS Rajasekhara Reddy were sworn in on Sunday once again as required under the Constitution. They were administered the oath of office and secrecy by Governor ND Tiwari at a brief ceremony at Raj Bhavan here.

Centre to invest Rs 9,000 cr in Vizag Steel expansion

The central government would invest Rs 9,000 crore for the expansion of the Vizag Steel Plant, Andhra Pradesh Chief Minister K Rosaiah said here today.

CM to hand over land to shipping tech unit

Andhra Pradesh chief minister, K Rosaiah, has agreed to hand over the land already allotted for a new shipping technology unit at Visakhapatnam as and when required. He gave this assurance to shipping secretary, APVN Sharma, who called on him on Saturday.

Insurers push accident cover sale to schools

Schools and colleges have become the new hunting ground for non-life insurers, eager to push personal accident (PA) policies, a segment which has traditionally seen low claims.

Turf war echoes in Lok Sabha

The turf war between Trinamool Congress and CPI(M) in West Bengal had its echo in the Lok Sabha today with the two parties clashing over fresh violence between their supporters, leading to adjournment of the House for an hour.

ICICI Bank says no material exposure to Dubai

Amid fears of a debt crisis in Dubai, ICICI Bank today said it does not have any significant exposure to Dubai corporates.

Canara HSBC plans group insurance foray in FY11

Canara HSBC Life Insurance is planning to foray into group insurance by the beginning of the next financial year. It is also working on products for high net worth individuals and the rural market and to bring volumes in a bid to double its premium income to Rs 1,000 crore by the end of the year.

A cushion for dotage

A Mercer survey reveals wide disparity across sectors when it comes to superannuation benefits to employees

PNB may acquire majority stake in Kazakh bank

Punjab National Bank plans to acquire a majority stake in a Kazakhstan-based bank to expand its presence in Central Asia, its Chairman and Managing Director K R Kamath said here today.

Low-cost deposits are back

Banks see funds flowing into current, savings accounts.

BSNL to appoint consultant to enhance shareholder value

State-run Bharat Sanchar Nigam (BSNL) will appoint a consultant to enhance shareholder value, its Chairman and Managing Director Kuldeep Goyal said today.

BSNL introduces per-second billing plan

State-run Bharat Sanchar Nigam Ltd (BSNL) today announced the launch of per-second billing plan, joining a host of mobile phone operators who have already introduced such tariff scheme.

Airtel launches triple-play game

India’s largest private sector telecom player Bharti Airtel has launched a triple-play arcade puzzle game Getris on all three services of Airtel — mobile, Internet and direct to home (DTH).

Stiff pricing

While an under-penetrated market and robust business plans should help DEN Networks grow faster, competitive pressures are likely to intensify.

Centre asks state to aid in rail infra

Union minister of state for Railways K H Muniyappa has asked the state to submit a list of its demands for development of railway network in the state to the Centre before January 15, 2010.

Mamata\'s rail chugs along with hiccups

It was not a smooth ride in 2009 for the Railways which was hit by accidents, derailments and hijacking of the prestigious Rajdhani train.

Mamata \'setting\' agenda for Bengal govt

Despite being in the Opposition in West Bengal, Trinamool Congress chief and Railway Minister Mamata Banerjee is ‘setting’ the agenda for the state government.

Defence min puts rider to release of 3G

‘Clear the proposal for laying of optical fibre network before Dec 7’.

Compete if you can

China/anti-trust: China’s campaign against market bullies has a long way to go. Some individual customers have taken on dominant companies under a new antitrust regime launched over a year ago. The targets have included big game such as telecoms operators China Mobile and China Netcom, petroleum group Sinopec, and technology giant Baidu. But the results of two early cases show consumer power hasn’t yet reached the Middle Kingdom.

Railways mull new contract rules for eco-friendly toilets

Indian Railways’ ambitious plan to install ‘green’ toilets in all its 9,000 trains by 2011-12 have got postponed once again, with the process of tendering for procurement of biotoilets being scrapped last week. A revised tender agreement is likely to be approved by the Railway Board shortly.

Slum reduction key to urban development: APSA

At a time when cities are looking at improving transport and residential properties for urban development, the Asian Planning Schools" Association (APSA) concluded on the first day of its 10th International Congress held at Centre for Environment Planning and Technology (CEPT) University that the key lies in reducing number of slums as well.

Range bound trading continues

Support at 5,150, resistance at 5,300.

US puts Lockheed off Tejas flight path

Déjà vu for the US giant, as queries land at the eleventh hour.

Impromptu Telangana protest outside North Block, 21 detained

Nine MLAs and an MP from Andhra Pradesh are among 21 protestors taken into preventive custody today when about 100 activists gathered at high-security North Block violating prohibitory orders, as a meeting on Telengana issue was being held in the Home Ministry.

Centre strategises for today\'s meet

Before Uttam Kumar Reddy, Congress MLA from Huzurnagar (Telangana), left Hyderabad yesterday for Delhi to prepare himself for the all party meeting convened by Home Minister P Chidambaram on statehood for Telangana, he called upon the students who were agitating in Osmania University to hear what he already knew: laathi goli khayenge; Telangana le jayenge. Emotions ran high. The students asked: “those of you who are ready to be killed for a separate state, raise your hands” most of the 500,000-strong crowd raised its hands. “Those of you who are ready to kill for Telangana, raise your hands” was the next question. The same number of hands were raised again. Reddy heard the students and then boarded his Delhi-bound flight.

Punjab wants time for PSEB

Punjab Chief Minister Parkash Singh Badal today urged Union Power Minister Sushil Kumar Shinde to allow the Punjab State Electricity Board (PSEB) to continue as a State Transmission Utility and a Licensee for another six months till June 15, 2010, though the government would try to complete the process much before the onset of paddy season of 2010. It may be recalled that earlier the Centre had agreed to the request of the Punjab government for continuation of PSEB as a State Transmission Utility and a Licensee up to December 15, 2009.

When I'm CM

West Bengal’s assembly elections may be due only in early 2011, but that’s not stopping Trinamool Congress chief Mamata Banerjee from preparing to become the state’s next chief minister. She has assigned two economists the task of preparing a blueprint for the economic revival of the state. Both economists are frequent contributors to various newspapers and are known to be votaries of free enterprise.

Suzlon: Some breeze, finally

The order win by Suzlon’s subsidiary, REpower, to deliver 954 Mw of wind-power equipment is its largest ever onshore deal.

Suzlon Energy\'s three promoters pledge 2.8 cr shares

Wind power turbine maker Suzlon Energy today said its three promoters have, in total, pledged a further 2.80 crore shares, taking the total shares pledged by the company"s promoters to 28.28 per cent.

Left seeks BJP support to oppose disinvestment

After facing an united opposition in the Rajya Sabha on Monday over climate change, the United Progressive Alliance (UPA) ruling coalition today faced embarrassment as its ‘outside supporter’ Samajwadi Party (SP) joined the Left to stage a walk out in the Lok Sabha protesting the disinvestment policy of the government. Meanwhile, the Bharatiya Janata Party (BJP) said that the Left had approached them with a renewed offer to join hands against the government on economic issues.

Oil touches $80 on better US economy

Oil prices touched $80 a barrel today in Asia on optimism a gradual US economic recovery in 2010 will boost demand for crude.

GIC Hsg to sell stake in LIC MF, LICMF Trustee for Rs 89 cr

GIC Housing Finance today said it will sell its entire holding in LIC Mutual Fund Asset Management Company as well as LIC MF Trustee Co for a consideration of around Rs 89 crore.

Monetary policy has limited role: Govt

The government today said inflation was driven by a surge in commodity prices and the monetary policy had only a limited role in managing the price rise.

Hamleys set for India debut in February

Famed British toy retailer Hamleys will make its India debut with a 22,000-square-feet store at the popular Phoenix Mills in Mumbai, by February next year.

E-book readers likely to take off in 2010: Gartner

The year 2009 is likely to be remembered as a year of several milestones in the e-book space, according to Gartner, Inc, an information technology research and advisory company. However, Gartner said that while the number of electronic readers sold is likely to increase in 2009, it expects 2010 to be the year when e-book readers become popular consumer electronic devices.

Size does matter, sometimes

All offer documents of fund houses run a mandatory declaration: “Mutual funds are subject to market risk. Read the offer document carefully before investing.” But ‘market risk’ per se is not all that the investor should be worrying about, especially those who are investing in an existing fund.

LIC to rejig Ulips after Irda norms

Following the Insurance Regulatory Development Authority’s (Irda’s) cap on insurance charges, Life Insurance Corporation (LIC) is looking at measures like increasing the minimum premium and lock-in period, and rejigging other expenses such as fund management charges, for unit-linked insurance plans (Ulips).

Global action forcing pirates to Indian Ocean: Ban

UN Secretary-General Ban Ki-moon has said intensified international action to tackle ship seizures off the Somali coast is forcing pirates further afield into the Indian Ocean and more recently closer to the Seychelles.

Farmers\' resounding no to Bt brinjal

It was the biggest line-up of farmers’ organisations and they came to Delhi from all parts of the country with one clear message: they did not want to grow the genetically modified (GM) version of one of the country’s most popular vegetable, the brinjal. The leaders looked mild enough but they said they would resort to “direct action ” if their voice was not heard and they said they represented 200 million farmers in the major brinjal-growing states.

E-book readers likely to take off in 2010: Gartner

The year 2009 is likely to be remembered as a year of several milestones in the e-book space, according to Gartner, Inc, an information technology research and advisory company. However, Gartner said that while the number of electronic readers sold is likely to increase in 2009, it expects 2010 to be the year when e-book readers become popular consumer electronic devices.

Jharkhand will have two deputy CMs again

It will be for the third time that Jharkhand will have two deputy chief ministers in its nine-year long political history.

Retail investors give IPOs a miss

Reason: Few issues have enabled investors to make listing gains.


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UPDATE:SC allows Paradip Port Trust to reinvite bids for coal berth
The Supreme Court has allowed Paradip Port Trust (PPT) to re-invite financial bids for developing a deep draught coal berth at Paradip. However, it asked PPT to keep its decision in abeyance till further orders.
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