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The Financial Express |
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  Two CESC projects go on stream |
| With the power situation grim ahead of summer, CESC has commissioned two projects to help minimise the impact of power cuts in the season. |
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| JFE to buy into JSW Steel |
| In what could turn out to be one of the biggest deals in the domestic steel market, Japan's second largest steel firm, JFE Steel, is close to acquiring around 10% stake in India's second largest steel producer, the Sajjan Jindal-led JSW Steel. The deal is seen as significant by analysts since the domestic steel market in Japan is shrinking, leading companies such as JFE to look at growing markets elsewhere like India. For JSW, the deal would provide it with funds to execute its upcoming greenfield projects in West Bengal and Orissa. |
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| UPA discovers the need to reach out |
| Two days after celebrating the Rajya Sabha victory, the UPA said on Thursday that it would keep the Women's Reservation Bill on hold pending consultations with 'all concerned.' |
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| Inflated borrowing target risky |
| Reserve Bank of India deputy governor Subir Gokarn on Thursday said government's borrowing programme for the next fiscal is unlikely to pose a major challenge, but risks may emerge if the target exceeded the budgeted level. |
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| In addition to reservation |
| The Rajya Sabha passed the Women's Reservation Bill amid some of the most shameful scenes in India's parliamentary history. |
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| Its raining 52-week highs on BSE |
| It's the season for 52-week highs on the bourses. In each of the last seven sessions, at least 14 stocks of the BSE 500 have hit their 52-week price high, every single day. In fact, the number of stocks hitting new high has steadily risen over the last one month. |
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| After junking tender, BSNL plans to hook existing vendors |
| After scrapping the controversial tender for 93-million GSM lines, the BSNL board has assessed that it needs only 5.5 million lines for its immediate requirements for the northern and eastern zones and it will procure this from its existing vendors. |
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| Non-trade issues mar basmati exports to Iran |
| India's export of premium aromatic basmati rice to Iran has not lived up to the initial expectations as political and sanitary issues have bogged down exports to the emerging destination in the last few months. |
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| Fortis takes 24% in Singapores Parkway |
| Hospital chain Fortis Healthcare, promoted by Singh brothers Shivinder and Malvinder, is set to spread its wings across Asia by purchasing close to 24% stake in Singapore-based hospital network Parkway Holdings for $685.3 million. |
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| Online fever catches up with cricket fans |
| According to an analysis done by the Nielsen, the sport enthusiasts are increasingly using social media to express themselves on the hottest topic just before the IPL. |
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| SEL group plans Rs 800-cr textile factory in MP |
| Ludhiana-based SEL Manufacturing Company Ltd plans to set up Rs 800-crore textile plant near Bhopal, Madhya Pradesh. chairman and managing director, SEL Neeraj Saluja said the spinning plant in MP would have an installed capacity of 1,95,840 spindles. |
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| Gujarat riots: SIT summons Modi |
| The Supreme Court-appointed Special Investigation Team has summoned Gujarat chief minister Narendra Modi on March 21 in connection with a petition filed by Zakia Jafri |
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| Automobiles, fruits and sunglasses |
| Brazil's announcement of wide-ranging trade sanctions against US commodity exports in retaliation for the latter's incorrigible cotton subsidy regime is a historic move. |
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| Nayyar aims to bring Satyam back on steady coast |
| Vineet Nayyar, executive vice-chairman & managing director at Tech Mahindra and the man behind the Satyam acquisition, views his tenure for the next three years at the Mahindras as an important step to bring back Satyam on a 'steady coast'. |
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| Rapeseed crop may exceed forecast |
| India, the world's top buyer of edible oils will likely exceed an earlier forecast for its current rapseed crop on favourable weather though still fall short of last year's levels and continue to rely on imports. |
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| Haryana sees record 70% investment in development |
| Forcing the slowdown to take the backseat, Haryana has achieved a unique distinction of registering 70% of the implementation rate of pledged investments against 33% of the same for various states, an Assocham study has revealed. |
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| S Tel regrets writing to govt on sub-judice matter |
| C Sivasankaran-promoted telecom services provider S Tel on Thursday regretted before the Supreme Court that it had committed the impropriety of addressing a letter to the government without the apex court's knowledge. The court is hearing the alleged spectrum scam. |
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| Procurement keeps coconut oil prices steady |
| Procurement of copra by state agencies seems to have finally helped in stabilising coconut oil market, as it has remained steady during the peak production season in Kerala. |
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| Kapoor sets sights on game changers |
| Even as the country's biggest telco by revenues and subscribers, Bharti Airtel, works at firming its global footprint with the ongoing talk to acquire African operations of Kuwait's Zain Telecom in a deal valued over $10 billion... |
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| Slim overtakes Gates to top Forbes rich list |
| Mukesh Ambani, chairman of Reliance Industries, has retained his position as the world's richest Indian for the second consecutive year, with a networth of $29 billion in the Forbes.... |
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| Vortex set to install 300 solar ATMs in rural SBI branches |
| Chennai-based Vortex Engineering Pvt Ltd has bagged Rs 18-crore deal from the State Bank of India to install 545 ATMs in semi-urban and rural India. Out of them, over 300 will be solar-powered, costing less than Rs 3 lakh each and relatively cheaper than conventional ATMs. |
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| Malaysian carrier Air Asias Indian ops set to take wings |
| The Malaysia-headquartered low-cost, no-frills air carrier Air Asia has set its eyes on the Indian aviation market in a big way. Buoyed by an encouraging response from Indian travellers over a period of time, Air Asia has decided to enlarge its operations in India by linking major cities including Delhi, Mumbai, Chennai, Bengaluru and Hyderabad in a few months. |
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| Column: Nifty in Chicago |
| An FII will have much to celebrate from the recent plans to introduce Nifty futures on the Chicago Mercantile exchange. Any bad news on the US jobs data or GDP growth..... |
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| Quick View |
| Turnover at Indian commodity bourses rose 50.12% to Rs 69,72,216 crore in the first eleven months of fiscal 2009-10, regulator Forward Markets Commission said on its website. |
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| More sectors will be shifted to automatic approval route |
| To speed up the flow of foreign direct investment, the government plans to take several sectors in the "approval route" to the easier automatic route-a move that policy managers reckon would come handy whenever the country wants to augment investment in key sectors. |
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| Areva T&D bags contract from UP co |
| Energy transmission and distribution firm Areva T&D India on Thursday said it has bagged a contract worth Rs 400 crore from Uttar Pradesh Power Transmission Corporation Ltd for building a substation. |
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| How PPF fares as an investment option |
| Where Employees Provident Fund serves all salaried employees, the Public Provident Fund serves everyone - the employed, the unemployed and even children and housewives. |
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| Core sector hits time and cost overruns |
| While infrastructure is driving the economic growth in India, the time and cost overruns impede the sector's potential and good project management can help ensure efficient.... |
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| Cohort-based placement process is more recruiter-friendly |
| The newly introduced cohort-based placement at the Indian Institute of Management at Ahmedabad has finally comes to an end. In an interaction with FE's Jyotsna Bhatnagar, IIM-A placement chairperson Saral Mukherjee, the architect of this new system, discusses various facets of the placement systems and the changes that need to be incorporated. |
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| Lockout to take a toll on Bosch investments |
| Bosch Ltd, one of the largest automotive component manufacturers in India and a subsidiary of Germany's auto parts giant Robert Bosch, has said that lockout at its Naganathapura plant would have an impact on its proposed investments in India. |
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| IIM-A blacks out salary packages |
| The management school is instead proud of the new cluster-based system it has rolled out that will push students towards a career and 'not a mere job', said placement committee chairman and architect of the new system Saral Mukherjee. |
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| Food inflation slips to 17.81%, fuel index up |
| Food inflation eased a bit to 17.81% during the last week of February, but may not soothe overall inflation as petrol and diesel prices have risen sharply following the hike in duty rates. |
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| Quick View |
| Haryana's farm sector grew by 3.5% in 2008-09 on the back of bumper output of wheat and other crops, state's Economic Survey for 2009-10 said. Although, the 3.5% growth is still being considered as low, as the state had observed higher growth of 9.7% in 2006-07, experts said. |
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| Re falls, yields steady |
| The rupee on Thursday weakened as large corporate bought dollars to fund purchase of a stake in an overseas firm while losses in other regional peers piled pressure on the local unit. |
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| Letters to the editor |
| On the same day Rajya Sabha passed the Women's Reservation Bill, Burma issued a law which will bar Aung San... |
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| Quick View |
| The State Bank of India has received the permission from the Chinese government to lend in the local currency-yuan-a top official said. |
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| Report card |
| In a comprehensive sample of 116,513 worldwide mergers over 1991 to 2008 we find that culture has a significant and economically meaningful effect on the volume of mergers. |
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| Now, Raju knocks on SC door for bail |
| Disgraced Satyam Computers founder and ex-chairman B Ramalinga Raju on Thursday approached the Supreme Court seeking bail in the multi-crore financial fraud case. |
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| Sharma assures exporters of cheap loans |
| Commerce and industry minister Anand Sharma on Thursday assured exporters of government mediation to ensure that they get foreign currency loans at the new lower rate set by the RBI amid complaints against banks levying additional charges. |
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| India, Russia to sign pacts to boost trade |
| To further strengthen their strategic and economic ties, India and Russia will sign several agreements, including an umbrella civil nuclear pact and supplementary agreements to fix the cost of the refurbished aircraft carrier Admiral Gorshkov at $2.35 billion. |
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| MSME share in GDP may touch 10% |
| The micro, small and medium enterprises are expected to contribute up to 10% to the country's gross domestic product soon, said the finance ministry on Thursday. The current contribution of MSME sector to GDP is 8%. "MSME sector plays a vital role in country's growth. |
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