Source: The Hindu
Friday, August 21, 2009
1. Bharti Airtel extending merger discussions with MTN.
Bharti Airtel on Thursday said its discussions with South African telecom firm MTN for merger deal, which were progressing "satisfactorily" have been extended by another month until September 30.
2. Adani closes at issue price
Adani power, the power/electricity governing until of Adani enterprises, on Thursday got listed at Rs. 105 on Bombay Stock Exchange with a premium of five percent over its issue price of Rs. 100.
Shares of Adani power touched a high of Rs. 107.90m up eight percent over the issue prior on the BSE, in early trade.
On the National Stock Exchange, it opened at Rs. 108 and surged by 10 percent at a high of Rs. 100.
3. States can borrow more to combat slowdown
Briefing the media after the cabinet meeting, information and broadcasting minister, Ambika Soni said : "The union cabinet on Thursday approved the relaxation of the debt consolidation and relief facility guidelines to enable the states to borrow up to 4 percent of their respective Gross State Domestic Product during 2009-2010." The centers move, she said would go a long way in reversing the impact of the slowdown and accelerate growth in the medium term.
4. Inflation rate inches up
The rate of inflation marginally inched up to minus 1.53 percent for week ended.
The previous week had up trend in food prices in the wake of deficient monsoon in large parts of the country.
Inflation continued to remain negative during the week. This is in to keeping with RBI's expectations.
Cereals such as rise and pulses are set to turn dearer as the government on Thursday announced hikes in minimum support prices (MSP) for paddy by Rs. 100 a quintal and pulses up to 240 a quintal, mainly to help farmers.
On a year on year basis, however, the rise in food prices has been much steeper, with vegetables turning more expensive by nearly 40%, cereals by 11.6%, pulses by 17.6% and condiments and spices by 4.7%.
5. Ministry upset over Anil Ambani's ad campaign on KG gas issue
Stung by the front page advertisements in newspapers issued by Anil Ambani - owned Reliance Natural Resources Ltd. (RNRL), questioning the role of the petroleum and natural gas ministry and the empowered group of ministers (EGOM) on the gas price.
A divided petroleum ministry is contemplating various options including looking closely at the issue of advertisement code violation to nail RNRL in its ad blitz.
6. Zen Estilo to come with new engine
Maruti Suzuki India on Thursday said it would introduce its latest KB-Series engine in Zen Estilo.
Next week, they will launch their compact car, Zen Estilo, with more fuel-efficient KB-series engine, executive officer (marketing) Mayank Pareek said.
7. Portal to market handicraft products launched
Union textile minister Dayanidhi Maran on Thursday launched new portals for the central cottage industries corporation of India (CCIC) and handicrafts and handlooms export corporation of India (HHEC) to provide e-shopping facilities for handicraft and handloom products.
One has to go to the websites, select product and pay through credit card.
8. Nokia's game plan for rural push
Nokia to expand its micro-financing schemes to push its handset sales in India.
The company plans to start its micro-financing schemes in 12 states, covering major rural markets, to push sales in the country.
It launched an information solution - Noka life tools - for easy access to news and information relating to agricuture, education and entertainment.
It recently launched a scheme in A.P. and Karnataka offering its handsets on a weekly instalment of Rs. 100 over 25 weeks.
Saturday, August 22, 2009
1. 520 MW Omkareshwar hydro project dedicated to the nation
The 520-MW Omkareshwar hydro electric project at Siddhwarkut in Khandwa district of Madhya Pradesh was dedicated to the nation on Friday. The project, completed ahead of the schedule, it is a joint venture between the national hydro project corporation and the Madhya Pradesh government.
2. Electrosteel ties up funds
Electro steel Integrated Limited (EIL) by Electrosteel castings has achieved financial closure ofRs. 5,447 crore of debt for its steel project in Siyaljori in Jharkhand.
U.K. company will pick up 22% stake in the venture for around Rs. 400 crore.
EIL is setting up a 2.2 million tonne project at an estimated cost of Rs. 7,262 crore.
Mr. Agarwal said that 2,200 acres had been acquired for the project for which an MOU was signed with Jharkhand government in 2007.
3. Satyam-like scam to be avoided
The corporate affairs ministry working on setting up an early warning system to prevent recurrence of Satyam-like frauds in future.
Corporate affairs minister Salman Khursheed said experts were working on a mechanism to 'detect if something has gone wrong' and take remedial measures.
He refused to elaborate on issue claiming "efforts are underway and I don't want to predict about it."
4. RNRL ad campaign 'most unfortunate,' says ministry
Upset over the massive ad campaign unleashed by Anil Ambani owned Reliance Natural Resources Ltd (RNRL) on the KG basin gas issue, the petroleum and the natural gas ministry decided to take on younger Ambani sibling terming the whole campaign "most unfortunate" especially when the matter is before the supreme court.
5. MC Craftsman to open centre in Coimbatore
MC Craftsman machinery of Mitsubishi corporation, Japan, will inaugurate its technology centre here on September 7.
Technology centre and head office building here would sell EDM (Electrical Discharge Machinery) and laser cutting machine tools, training, servicing, and supply of consumable parts.
The machines are used in automobile, medical, jewelry, and electrical and electronic sectors and the laser cutting machines in automobile, construction, aerospace, farm machinery and IT sector.
6. Appollo opens hospital in Mauritus
Appollo hospitals group inaugurated Appollo Bramwell hospitals, a state-of-art-multi-speciality hosital in Moka, Mauritius as a joint venture with British American investment company (Mauritius) Ltd.
Sunday, August 23, 2009
NIFT Specialty center in Coimbatore
The union government will establish a national institute of Fashion Technology (NIFT) specialty center in Coimbatore, union minister for textiles, Dayanidhi Maran, said here on Saturday.
The specialty center would cater to the needs of the local textile industry by providing design, technology and management inputs.
Monday, August 24, 2009
1. RIL hits back at RNRL
Mukesh Ambani - owned Reliance industries Ltd (RIL) has termed the advertisement campaign of Anil Ambani - owned Reliance Natural Resources Ltd (RNRL) as "malicious, mischievious, baseless and ill-informed" propaganda and urged the government to put an end to these malafide endeavours for the sake of energy security of the country.
2. Banking services for every village by 2011
A high level committee set up by the RBI has recommended that a sub-committee of the district consultative committee (DCC) of banks-under the lead bank scheme - would draw up a road map to provide banking services in any form, to every village with a population of over 2,000 at least once a week on a regular basis by march 2011.
3. Toyota Motor launches SUV fortuner
Toyota Motor on Monday launched its internationally-acclaimed Sports Utility Vehicle Fortuner in India
Priced at 18.45 lakh, comes with a 3.0 liter diesel engine
It has an incomparable combination of luxurious interior and sporty features.
Tuesday, August 25, 2009
1. Bharti Airtel extending merger discussions with MTN.
Bharti Airtel on Thursday said its discussions with South African telecom firm MTN for merger deal, which were progressing "satisfactorily" have been extended by another month until September 30.
2. Adani closes at issue price
Adani power, the power/electricity governing until of Adani enterprises, on Thursday got listed at Rs. 105 on Bombay Stock Exchange with a premium of five percent over its issue price of Rs. 100.
Shares of Adani power touched a high of Rs. 107.90m up eight percent over the issue prior on the BSE, in early trade.
On the National Stock Exchange, it opened at Rs. 108 and surged by 10 percent at a high of Rs. 100.
3. States can borrow more to combat slowdown
Briefing the media after the cabinet meeting, information and broadcasting minister, Ambika Soni said : "The union cabinet on Thursday approved the relaxation of the debt consolidation and relief facility guidelines to enable the states to borrow up to 4 percent of their respective Gross State Domestic Product during 2009-2010." The centers move, she said would go a long way in reversing the impact of the slowdown and accelerate growth in the medium term.
4. Inflation rate inches up
The rate of inflation marginally inched up to minus 1.53 percent for week ended.
The previous week had up trend in food prices in the wake of deficient monsoon in large parts of the country.
Inflation continued to remain negative during the week. This is in to keeping with RBI's expectations.
Cereals such as rise and pulses are set to turn dearer as the government on Thursday announced hikes in minimum support prices (MSP) for paddy by Rs. 100 a quintal and pulses up to 240 a quintal, mainly to help farmers.
On a year on year basis, however, the rise in food prices has been much steeper, with vegetables turning more expensive by nearly 40%, cereals by 11.6%, pulses by 17.6% and condiments and spices by 4.7%.
5. Ministry upset over Anil Ambani's ad campaign on KG gas issue
Stung by the front page advertisements in newspapers issued by Anil Ambani - owned Reliance Natural Resources Ltd. (RNRL), questioning the role of the petroleum and natural gas ministry and the empowered group of ministers (EGOM) on the gas price.
A divided petroleum ministry is contemplating various options including looking closely at the issue of advertisement code violation to nail RNRL in its ad blitz.
6. Zen Estilo to come with new engine
Maruti Suzuki India on Thursday said it would introduce its latest KB-Series engine in Zen Estilo.
Next week, they will launch their compact car, Zen Estilo, with more fuel-efficient KB-series engine, executive officer (marketing) Mayank Pareek said.
7. Portal to market handicraft products launched
Union textile minister Dayanidhi Maran on Thursday launched new portals for the central cottage industries corporation of India (CCIC) and handicrafts and handlooms export corporation of India (HHEC) to provide e-shopping facilities for handicraft and handloom products.
One has to go to the websites, select product and pay through credit card.
8. Nokia's game plan for rural push
Nokia to expand its micro-financing schemes to push its handset sales in India.
The company plans to start its micro-financing schemes in 12 states, covering major rural markets, to push sales in the country.
It launched an information solution - Noka life tools - for easy access to news and information relating to agricuture, education and entertainment.
It recently launched a scheme in A.P. and Karnataka offering its handsets on a weekly instalment of Rs. 100 over 25 weeks.
Saturday, August 22, 2009
1. 520 MW Omkareshwar hydro project dedicated to the nation
The 520-MW Omkareshwar hydro electric project at Siddhwarkut in Khandwa district of Madhya Pradesh was dedicated to the nation on Friday. The project, completed ahead of the schedule, it is a joint venture between the national hydro project corporation and the Madhya Pradesh government.
2. Electrosteel ties up funds
Electro steel Integrated Limited (EIL) by Electrosteel castings has achieved financial closure ofRs. 5,447 crore of debt for its steel project in Siyaljori in Jharkhand.
U.K. company will pick up 22% stake in the venture for around Rs. 400 crore.
EIL is setting up a 2.2 million tonne project at an estimated cost of Rs. 7,262 crore.
Mr. Agarwal said that 2,200 acres had been acquired for the project for which an MOU was signed with Jharkhand government in 2007.
3. Satyam-like scam to be avoided
The corporate affairs ministry working on setting up an early warning system to prevent recurrence of Satyam-like frauds in future.
Corporate affairs minister Salman Khursheed said experts were working on a mechanism to 'detect if something has gone wrong' and take remedial measures.
He refused to elaborate on issue claiming "efforts are underway and I don't want to predict about it."
4. RNRL ad campaign 'most unfortunate,' says ministry
Upset over the massive ad campaign unleashed by Anil Ambani owned Reliance Natural Resources Ltd (RNRL) on the KG basin gas issue, the petroleum and the natural gas ministry decided to take on younger Ambani sibling terming the whole campaign "most unfortunate" especially when the matter is before the supreme court.
5. MC Craftsman to open centre in Coimbatore
MC Craftsman machinery of Mitsubishi corporation, Japan, will inaugurate its technology centre here on September 7.
Technology centre and head office building here would sell EDM (Electrical Discharge Machinery) and laser cutting machine tools, training, servicing, and supply of consumable parts.
The machines are used in automobile, medical, jewelry, and electrical and electronic sectors and the laser cutting machines in automobile, construction, aerospace, farm machinery and IT sector.
6. Appollo opens hospital in Mauritus
Appollo hospitals group inaugurated Appollo Bramwell hospitals, a state-of-art-multi-speciality hosital in Moka, Mauritius as a joint venture with British American investment company (Mauritius) Ltd.
Sunday, August 23, 2009
NIFT Specialty center in Coimbatore
The union government will establish a national institute of Fashion Technology (NIFT) specialty center in Coimbatore, union minister for textiles, Dayanidhi Maran, said here on Saturday.
The specialty center would cater to the needs of the local textile industry by providing design, technology and management inputs.
Monday, August 24, 2009
1. RIL hits back at RNRL
Mukesh Ambani - owned Reliance industries Ltd (RIL) has termed the advertisement campaign of Anil Ambani - owned Reliance Natural Resources Ltd (RNRL) as "malicious, mischievious, baseless and ill-informed" propaganda and urged the government to put an end to these malafide endeavours for the sake of energy security of the country.
2. Banking services for every village by 2011
A high level committee set up by the RBI has recommended that a sub-committee of the district consultative committee (DCC) of banks-under the lead bank scheme - would draw up a road map to provide banking services in any form, to every village with a population of over 2,000 at least once a week on a regular basis by march 2011.
3. Toyota Motor launches SUV fortuner
Toyota Motor on Monday launched its internationally-acclaimed Sports Utility Vehicle Fortuner in India
Priced at 18.45 lakh, comes with a 3.0 liter diesel engine
It has an incomparable combination of luxurious interior and sporty features.
Tuesday, August 25, 2009
1. Toyota launches Fortuner
Strengthening its SUV portfolio in India, Toyota launched its Fortuner, which is priced at Rs. 18.45 lakh in Delhi. It plans to sell around 2,000 units of the model by year end.
"Globally, the fortuner has already sold over 2.5 lakh units in more than 60 countries since its launch in 2005. Its launch today is an expression of Toyota's committment to provide best in class quality and technology for India," said Akira Okabe, senior MD of Toyota motor.
2. Toyota plans to bring in small car, Daihatsu
Toyota is planning to bring its small car brand Daihatsu in India as part of its expansion drive with launch of new cars, including all new mini cars by late 2010.
The Osaka-based Daihatsu, owned by Toyota, is Japan's largest minicar maker and sells cars in over 100 countries. Toyota, despite its global dominance, has been a late starter in India and has a meager 3% market share. The company is investing Rs. 3200 crore for a new plant at Karnataka, which will be mainly used for its upcoming small car.
3. Cadila launches 5-in-1 Polypill in India
Candial pharmaceuticals limited, an Ahmedabad based pharma major, has launched world's first 5-in-1 wonder pull 'polycap' in the domestic market. The pill is said to be a mixture of five drugs effective in preventing heart attacks by treating cardiovascular diseases (CVD), high blood pressure, cholesterol, obesity, and stress.
4. Mahindra Satyam appoints new head for US ops
Rakesh Soni, CEO of Mahindra Satyam will be leading the business development and deliver operations for the American market and for the manufacturing, commercial and services verticals.
Wednesday, August 26, 2009
1. Apple is all set to unveil snow leopard
Apple inc's latest operating software, Snow Leopard, will go on sale this Friday. Snow Leopard's release comes days before its promised September launch of Microsoft's next operating system, Windows 7.
Among Snow Leopard's improvements is built in support for Microsoft's exchange server software to, so Apple programs for email, calender, and contacts could become more useful in corporate settings.
2. HCL tech's net up 2-fold.
Drive by growth in software and infrastructure services business, IT major technologies on Tuesday reportedan over two-fold jump in its consolidated net income at Rs. 330.1 crore for the quarter ended June 30, 2009.
The consolidated net income of the company stood at Rs. 141 crore during the same period last fiscal.
3. Comm sector to emerge as largest contributor to GDP: NCAER
The communication sector will emerge as the largest contributor to India's GDP and one of the major grwoth drivers of the country's economy in the net five years a study said.
The communication sector is predicted to emerge as the single largest sector of India's economy with a 15.4 percent share equivalent to Rs. 8,65,031 crore of GDP by 2014-15, National Council of applied economic research (NCAER) said in its recent study, economic impact of communication sector in India.
Friday, August 28, 2009
1. Nissan to shift Micra's production to India
In a move that reflects the growing stature of the Indian car industry globally, Japanese majir Nissan has decided to shift the entire production of its small car Micra from the UK and relocate it to India, involving a total investment of Rs. 2,000 crore.
The company's Chennai plan will start production from May next year and the export markets would be catered to form Autum Nissan Indian, MD and CEO Kiminobu Tokuyamma said.
Saturday, August 29, 2009
1. Samsung launches open market handset.
CDMA mobile player Samsung announced the introduction of the first open market handset (OMH) phones MPOWER 699 in the Indian market in co-operation with qalcomm, a leader in developing and delivering digital wireless products.
The OMH technology gives mobile customers the flexibility to buy a CDMA handset and SIM cards from various CDMA operators of their choice.
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