| POLICY WATCH |
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Govt, RBI sign new deal on market stabilisation scheme
The Government and the Reserve Bank of India (RBI) have entered into a memorandum of understanding (MoU) to amend an existing arrangement under the market stabilisation scheme (MSS). [More]
Trai moves to ensure broadband speed
The Telecom Regulatory Authority of India (TRAI) has issued guidelines to ensure that Internet service providers and telecom operators provide the minimum required broadband speed to their customers. [More]
Sebi changes norms for IPO issues
The Securities and Exchange Board of India (SEBI) has amended the Disclosure and Investor Protection Guidelines, 2000, introducing changes in the timeline for completion of bonus issues, among other issues. [More]
SEZ units get service tax relief
The government has allowed companies located in special economic zones (SEZs) to claim service tax refund for services availed outside the tax-free export zones. [More]
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| PEOPLE |
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Ambani, Tanti among the world's wealthiest 'eco barons'
Mukesh Ambani of Reliance Industries and Tulsi Tanti of Suzlon, along with two other Indians, are among the world's wealthiest 'eco barons' who were featured in the 'Green Rich List' compiled by The Sunday Times. [More]
Four Indians feature in Forbes philanthropy list
Sunil Mittal, Chairman and Managing Director of the Bharti Group, along with NRI businessman Anil Agarwal, HCL Technologies Chairman Shiv Nadar and NGO activist Rohini Nilekani appeared in the Forbes list of '48 Heroes of Philanthropy'. [More]
Indian-American scientist makes wave with new Web technology
Indian-American computer science professor, Mr Vivek Pai, led a team of computer science researchers to develop HashCache, an efficient and affordable data storage system, that was showcased as one of the top 10 emerging technologies of the year in Technology Review, a scientific magazine published by the Massachusetts Institute of Technology. [More]
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| ECONOMY AND ENTERPRISE |
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Repo, reverse repo rates cut
The RBI has cut repo and reverse repo rates by 50 basis points each with immediate effect, placing the current repo rate at 5 per cent and the reverse repo rate at 3.5 per cent. [More]
Pranab unveils fiscal stimulus III
The Union Finance Minister, Mr Pranab Mukherjee, announced the third stimulus package on February 24, 2009, cutting excise duty and service tax by two percentage points each, and extending previous excise cuts beyond March 31, 2009. [More]
Govt clears port, highway projects of worth Rs 5,220 crore
The government has cleared two port projects and five highway projects with a total cost of Rs 5,220 crore (US$ 1 billion) to be executed jointly by private developers and various government agencies, the Finance Ministry said on March 3, 2009. [More]
India less affected by financial crisis: UBS
The Indian economy is less affected by the global financial crisis than most other markets as the country, with an export-to-GDP ratio of 13 per cent, remains largely a domestic-oriented economy, according to a report by UBS, a financial services firm. [More]
India surpasses China on engineering goods
African and ASEAN countries are shifting their focus from China to India for meeting major supply requirements of engineering goods and equipment. [More]
Indian auto industry defies global slowdown
Major automobile companies such as Maruti Suzuki India Ltd, Hyundai Motors India and Mahindra & Mahindra have witnessed an increase in exports and domestic passenger car sales in February 2009. [More]
Pharma retail market grows 15%
The domestic pharmaceutical retail market has recorded nearly 15 per cent growth in January 2009, with the market growing by nearly 10 per cent during January-December 2008, and over 13 per cent in December 2008 alone. [More]
Banking sector: Showing resilience amid slowdown
At a time when banks across countries have witnessed a sharp setback as a result of the global financial crisis, the Indian banking system has demonstrated resilience because of prudent measures taken by the RBI. [More]
India is one of the world's attractive destinations: WEF
India is ranked 11th in the Asia-Pacific region and 62nd globally in the list of the world's attractive destinations, according to a report by the World Economic Forum (WEF). [More]
Tata Comm launches Ethernet services in UAE
Tata Communications, a Tata Group company, marked its entry into the UAE by launching a range of dedicated Ethernet services in association with Etisalat, a UAE-based telecommunication service provider. [More]
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Radio, Internet and cinema are emerging as viable advertising media, reveals a survey by Adlabs Cinemas and research firm IMRB. Further, despite the economic slowdown, the box office collections of the Indian film industry for the first two months of 2009 have increased 32 per cent over the corresponding period last year.
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"Given the cost advantage and other positive options, GM will look at exporting engines as well as cars out of India to global markets."
Karl Slym
President and Managing Director
GM India |
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Bharat Biotech International Ltd, a Hyderabad-based vaccine manufacturer, launched COMVAC5, a single-shot pentavalent combination vaccine, which contains the first indigenously developed haemophilus influenza type b (Hib) vaccine in India and the only Hepatitis B vaccine in the world to be manufactured without the use of cesium chloride. [More]
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'Green' rating programme for office buildings launched
A 'Star Rating Programme' for office buildings, developed by the Bureau of Energy Efficiency (BEE), has been launched by Union Power Minister, Mr Sushilkumar Shinde. The programme aims to accelerate the energy efficiency activities in commercial buildings across the country. [More]
Gujarat to set up Asia's first dept for climate change
The Gujarat government has taken an in-principal approval to set up a separate department for climate change that will act as a bridge between government and society to address issues related to global warming. [More]
Greenko lines up Rs 1470 cr for clean projects
Greenko Group, a Hyderabad-based power company, plans to invest about US$ 300 million (about Rs 1,470 crore) in three years for setting up 15 clean energy projects in the country. [More]
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