Govt hints amendments in Atomic Energy Act soon
February 28, 2009 by admin
Filed under Economy News
Faced with rising power demand to feed the needs of the country in the longer timeframe, the government has prepared the draft for the structural amendments to the Atomic Energy Act, 1962, which would allow private participation in setting up nuclear power plants in India.
GDP numbers are more on expected lines than a shock
February 28, 2009 by admin
Filed under Economy News
India’s December quarter GDP growth is finally out and the number is rather on the downside to what was being expected. According to the data released by the Central Statistical Organisation (CSO), Indian economy grew by 5.3% in the three months to December 2008 compared with 8.9% growth achieved in same quarter a year ago. The figure is also lower compared to 7.6% growth achieved in September quarter.
FMC, NCDEX tussle intensifies
February 28, 2009 by admin
Filed under Economy News
The ongoing tussle between the commodity futures market regulator Forward Markets Commission (FMC) and the National Commodities and Derivatives Exchange (NCDEX) has got fresh kicks with FMC blaming the exchange for misuse of funds.
GAIL to grab 19% in ONGC’s OPaL
February 28, 2009 by admin
Filed under Company News
Gas Authority of India (GAIL) has finalized a deal with Oil and Natural Gas Corp (ONGC) to acquire 19% stake in its subsidiary ONGC Petro-additions (OPaL), the special purpose vehicle (SPV) formed for setting up petrochemical complex at Dahej SEZ.
Small drug companies cry foul over Jan Aushadhi legislation
February 28, 2009 by admin
Filed under Economy News
India’s small scale drug manufacturers, which supply more than 40% of the medicines in the markets, are not happy with a clause in the Jan Aushadhi stores’ legislation that effectively rules out small companies from the list of suppliers.
Honda shelves plan to set up second unit in India
February 27, 2009 by admin
Filed under Company News
Japan based auto major Honda, present in India through a joint venture with the Siel Group, has put on hold its plan of opening a Rs 1,000 crore second plant in India in wake of the current economic scenario.
JL Morison signs agreement with Alberto Culver
February 27, 2009 by admin
Filed under Company News
JL Morison India has signed an agreement with Alberto Culver International. The agreement is for marketing and distribution of international brands St. IVES, VO5 and Alberto Balsam in India.
Andhra Bank inks MoU with GM
February 27, 2009 by admin
Filed under Company News
Andhra Bank has entered into a Memorandum of Understanding (MoU) with General Motors India (GM) to provide vehicle finance to the retail customers of the motor company.
SC calls for TRAI, cable operators truce
February 27, 2009 by admin
Filed under Economy News
The Supreme Court has asked the watchdog Telecom Regulatory Authority of India (TRAI) and the cable operators to thrash out an agreement over tariffs by next Friday, slated to take up the appeal of the telecom regulator against the ruling of the Telecom Disputes Settlement and Appellate Tribunal (TDSAT).
Zensar strikes partnership deal with TwoFour Media
February 27, 2009 by admin
Filed under Company News
Pune based Zensar Technologies has entered into a partnership with UK based largest broadcast TV company — TwoFour Media — to launch the latter’s ‘Media Freedom’ product in India.