| POLICY WATCH |
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Cap on investment in infra by ports to be hiked 10 times
In a move aimed at helping ports implement their infrastructure projects, the government plans to raise the limit for investment in infrastructure projects by ports from Rs 50 crore (US$ 10.1 million) to Rs 500 crore (US$ 101.48 million). [More]
RBI eases lending norms for urban co-op banks
RBI has relaxed lending norms for tier-II urban co-operative banks, making it easier for them to lend to commercial real estate and non-banking finance companies (NBFCs). [More]
Sebi extends cross-margin facility to all investors
The Securities and Exchange Board of India (SEBI) has extended the cross-margining norms to all participants across the market in a move to ease liquidity pains and deepen the market, as well as perk up volumes. [More]
Power units may get special allowance
The new Central Electricity Regulatory Commission (CERC) tariff guidelines for the period 2009-14 recommend a special allowance that can be availed by thermal power generation stations as compensation for meeting the requirement of expenses, including renovation and modernisation (R&M) beyond its useful life for a unit. [More]
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| PEOPLE |
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Anil Agarwal is E&Y Entrepreneur of the Year
Anil Agarwal, Executive Chairman of the London Stock Exchange-listed Vedanta Resources, has been selected as the Ernst & Young (E&Y) Entrepreneur of the Year and will now represent India at the E&Y World Entreprenuer of the Year Award in Monte Carlo, Monaco, in May 2009. [More]
Dr Indira Goswami conferred Prince Claus Award 2008
The Principal Prince Claus Award 2008 has been conferred on December 3, 2008, in Amsterdam to Dr Indira Goswami, writer of Assamese literature, for her outstanding performance in the field of culture and development. [More]
City engr part of UK interplanetary society
Rushi Ghadawala has won international acclaim with his organisation Aryavarta's registration with United Nations International Astronautical Federation and International Space and Society Committee and now is all set to do extensive work on space environmental issues. [More]
Acclaim for India-born chef
Mahesh Jayabalasubramanian, a chef of Indian origin and based in Cardiff in UK has won three industry prizes for sculptures exclusively made from bread at the Hotelympia Salon Culinaire International, the UK's largest, internationally respected chefs' competition. [More]
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| ECONOMY AND ENTERPRISE |
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Govt cuts excise duty, offers sops for key export sectors
In a bid to minimise the impact of the global economic slowdown on the Indian economy, the government has unveiled a "multi-dimensional" fiscal stimulus package that is expected to help boost output across sectors and stoke growth. [More]
RBI does its bit, over to govt
RBI has signalled a further reduction in interest rates by reducing the repo and reverse repo rates by 100 basis points each and announced a host of other measures to rejuvenate growth and credit flow. [More]
Indian securitisation market solid amidst global meltdown: Crisil
A study by Crisil reveals that the retail securitisation market in India is better placed than it is in many other countries owing to the superior profile of the assets securitised in India. [More]
October adds highest ever mobile subscribers at 10.42 million
During October 2008, the country added the highest-ever addition to the mobile subscriber base at 10.42 million, taking the total number of mobile users to over 325 million, according to data released by the Telecom Regulatory Authority of India (TRAI). [More]
60% of mobile users in rural India by '12: E&Y
According to a report jointly released by the Confederation of Indian Industry (CII) and Ernst & Young, rural users will account for over 60 per cent of the total telecom subscriber base by 2012. [More]
Indian-owned firm buys German's Wehmeyer
Indian entrepreneur-promoted apparel sourcing company, Techno Life style, has acquired mid-market German retailer Wehmeyer, which has a consolidated turnover of Rs 900 crore (US$ 182.56 million) and 43 retail stores across Germany. [More]
Maruti plans to drive up presence in Europe
Maruti Suzuki India, the country's largest passenger carmaker, is poised to expand its presence across European markets and aims to notch up exports by 200,000 cars by 2010-11. [More]
Essar Steel signs tech pact with Japan's Kobe
Gujarat-based Essar Steel Ltd has signed an agreement with Kobe Steel Ltd of Japan to gain operational technology to manufacture higher quality steel products. It is also looking at enhancing quality control and technological improvements at its plant. [More]
Orissa clears Rs 1.33 lakh cr proposals in power, steel & aluminium sectors
The Orissa government has cleared Rs 1,28,000 crore (US$ 25.97 billion) worth of investments in sectors like power, steel and aluminium as the high-level clearance authority (HLCA) headed by Chief Minister, Mr Naveen Patnaik, gave the green signal. [More]
Infra projects in Mysore on fast track
Infrastructure projects in Mysore are on the fast track as seven of these amounting to Rs 744.31 crore (US$ 151.01 million) have already gained clearance under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM), according to JNNURM Special Officer, Mr P Manivannan. [More]
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A survey by Akamai Technologies indicates the growing penetration of the Internet and rise in the number of Internet Protocol (IP) addresses in India. Benefitting the most from the opportunities are PC makers who are now focussed on 'Nettops' and communications systems makers who are reaching out to jet-setting consumers using the Internet. [More]
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"Clinical services are now a global opportunity for India with a strong competitive edge based on speed and quality of clinical development."
Dr Wolfgang Beier
CEO
Oncology Services Europe |
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Hewlett Packard (HP), the world's biggest maker of personal computers, has said that a total of eight entries in the list of top 500 supercomputers are from India, according to rankings released by researchers at the Universities of Tennessee and Mannheim, Germany, and the NERSC Lawrence Berkeley National Laboratory. [More]
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'Changemakers' award for NGO
Two financial initiatives by a non-governmental organisation—providing alternative methodologies for upliftment of small farmers—have won the 'Changemakers' award instituted by the US-based Ashoka Foundation and Citibank in the competition 'Banking on social change - seeking financial solutions for all'. [More]
PLG Power investing Rs 500 cr to make solar modules
PLG Power Limited, the energy and power division of the PLG Group, is investing Rs 500 crore (US$ 101.48 million) to manufacture Solar Photovoltaic Modules at a new facility in Sinnar near Nashik in collaboration with Boston-based Spire Corporation, a global solar company. [More]
Govt to promote steps for energy conservation
The Ministry of Power has launched a report on 'Empanelment of Energy Service Companies (ESCOs)', which aims to promote large-scale implementation of energy conservation and energy efficiency measures in existing facilities through the ESCO route. [More]
Campco plans wind energy production
Central Arecanut and Cocoa Marketing and Processing Cooperative (Campco) Ltd has signed a memorandum of understanding (MoU) with Suzlon for setting up a wind energy plant at Hoovina Hadagali in Bellary district, Karnataka. [More]
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