| POLICY
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RBI
eases overseas investment norms
Indian
companies have been permitted to invest in
excess of 400 per cent of their net worth in
energy and natural resources sectors, such as
oil, gas, coal and mineral ores. [More]
Corporates
can borrow up to US$ 50 million
overseas
The Centre has hiked external
commercial borrowing (ECB) norms for Indian
companies from US$ 20 million to US$ 50 million,
with a separate higher limit of US$ 100 million
for the infrastructure sector. [More]
Sebi
eases registration norms of FIIs, sub
a/c
Sebi has also decided to accord FII
status to asset management companies promoted by
non-resident Indians (NRIs), provided they do
not invest in "proprietary funds". [More]
Small
scale items to be included in WPI
A group
of experts responsible for revamping the
wholesale price index has decided to include
items manufactured by the small scale sector for
the first time to make the index more
representative and accurate. [More]
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| PEOPLE |
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Ratan Tata among most powerful in
UK construction industry
Ratan Tata,
already named among the world's most influential
business people from India, has made it to the
Contract Journal's list of 30 most powerful in
the British construction space. [More]
Nine
Indian-Americans awarded for contribution to
business
Nine prominent Indian-Americans,
two amongst them women, are among 50 people of
Asian origin, to have been honoured by the Asian
American Business Development Centre. [More]
Dr
R K Pachauri conferred with climate protection
award by EPA
The Environmental Protection
Agency (EPA) has honoured Dr R K Pachauri,
Chairman IPCC and Director General, The Energy
and Resources Institute (TERI), with the climate
protection award. [More]
5
Indians among seven outsourcing billionaires:
Forbes
Three amongst the five Indian
outsourcing billionaires - N R Narayana Murthy,
Nandan Nilekani and Senapathy Gopalakrishnan -
are from Infosys Technologies. [More]
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| ECONOMY AND
ENTERPRISE |
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Economy
grows 9 per cent in 2007-08
This is the
third year in a row, when the Indian economy has
grown at the rate of 9 per cent and above. In
2005-06, the economy grew at 9.4 per cent
followed by 9.6 per cent in 2006-07. [More]
Rural
life insurance to grow 4-fold by
2015
India's rural market - home to over
700 million Indians - has a growth potential to
reach US$ 1.9 billion by 2015, from the current
US$ 487 million. [More]
2008
data: SEZs deliver on all
counts
Investments in 232 Special
Economic Zones (SEZs) stood at US$ 18.01
billion, out of which 97 per cent were
incremental flows since 2006. [More]
India
to join 'economic miracle' group
India is
all set to join the 13-member group of 'miracle
economies' that have recorded higher growth in a
short span of time, according to the UK-based
Commission on Growth and Development. [More]
'India,
second largest newspaper market'
Growing
literacy and new technology have resulted in
India emerging as the second largest newspaper
market in the world, according to the World
Association of Newspapers. [More]
Car,
two-wheeler sales go up in May
India's
car sales for the month of May showed an upward
trend and the two-wheeler market continued its
growth momentum, with all top four manufacturers
showing increase in sales numbers. [More]
Cement
sales increase by 7.9 per cent in
May
According to the Cement
Manufacturers' Association, industry sales grew
to 167.67 million tonnes (mt) in May 2008, from
155.26 mt in the corresponding period last year.
[More]
8
million phone subscribers added in
April
As many as 8 million telephone
connections were added in April this year
against 10.4 million in March, taking the total
number of subscriptions to 308.51 million. [More]
Nalco
to invest US$ 9.5 billion in expansion
projects
India's second largest producer
of aluminium, National Aluminium Company Limited
(Nalco), would invest around US$ 9.5 billion in
the next five years in its various expansion
projects. [More]
Tata
ranked sixth most reputed corporation in the
world
The Tata group has been ranked as
the world's sixth most reputed company in the
annual "Global 200: The World's Best Corporate
Reputations" list, compiled by US-based
Reputation Institute. [More]
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Mega
hubs to change face of industrial
landscape
With a focus on infrastructure,
Andhra Pradesh, Karnataka, Gujarat, West Bengal, Orissa
and Tamil Nadu are creating investment hubs that
have the potential to collectively attract US$
233.10 billion in investments in the next
several years.
[More]
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You
can't be global without being in India - with
its large number of highly skilled, motivated
and knowledgeable people.
Tom
Enders
CEO and President
Airbus
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Kolkata,
the first Indian city to get a metro railway
network, will set another precedent by having
the country's first underwater rail connection.
[More]
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Industrial
paints sector goes green
With the Indian
automotive and manufacturing industries going
green, the US$ 2.56 billion Indian paints
industry too is following suit and making its
products more environmentally friendly. [More]
IT
companies see business in going
green
Major IT firms - Dell, Intel,
Aricent, HCL Technologies, Wipro, Lenovo, Nokia
and Tulip Telecom, among others - have realised
that "going green" is profitable business. [More]
Srei
plans 25,000 kiosks
SREI Sahaj e-Village
Limited would set up 25,000 IT kiosks across six
Indian states, with a total investment of around
US$ 233.10 million over the next two years. [More]
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