| POLICY WATCH |
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Sebi relaxes takeover norms
The Securities and Exchange Board of India (SEBI) has announced changes to the rules that govern corporate takeovers in India, under which the board of a target company in "exceptional circumstances" has been given the liberty of finalising the bidder and deciding the final open offer price, all subject to SEBI's approval. [More]
Licence fee for MVNOs capped at Rs 85 crore
The Department of Telecommunications has decided to peg the entry fee for Mobile Virtual Network Operators (MVNO) at a maximum of Rs 85 crore (US$ 17.05 million) for a pan-India licence. [More]
Delhi Govt announces SEZ policy
The Delhi government has announced its policy for the setting up of special economic zones (SEZ) in the Capital for sectors such as information technology-enabled services, electronic hardware and software, nanotechnology and biotechnology. [More]
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| PEOPLE |
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Ambani, Mittal among Forbes list of world's most powerful billionaires
Reliance Industries' Chairman Mukesh Ambani and Indian-born steel tycoon Lakshmi Mittal are among the Forbes list of the 20 most powerful billionaires in the world. [More]
Indian-American wins Satellite Executive of the Year title
Indian-American Pradman Kaul, Chairman and Chief Executive Officer of Hughes Network Systems (HNS), has been named the Satellite Executive of the Year for 2008 by Via Satellite Magazine. [More]
Rahman creates history, wins double Oscars
It was India's day at the 81st Academy Awards with music composer A.R. Rahman, lyricist Gulzar and sound designer Resul Pookutty creating history by winning three Oscars for "Slumdog Millionaire". [More]
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| ECONOMY AND ENTERPRISE |
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Inflation falls below 4%
Inflation eased to a 13-month low of 3.92 per cent for the week ended February 7, 2009, on the back of a sharp fall in the prices of edible oils and manufactured products. [More]
Indian market to fuel growth for MNCs
Amidst global economic recession, MNCs are banking on India as the country's projected growth rate is quite positive and its domestic market is still offering many opportunities. [More]
Ten more SEZs get nod
The government has cleared 10 more proposals for setting up Special Economic Zones (SEZ), on February 23, 2009, taking the total number of SEZs in the country, after the enforcement of SEZ Act and Rules, to 714. [More]
Indian pharma sector to remain stable, says Fitch
The Indian pharmaceutical sector is all set to retain its stability during 2009, owing to steadiness of demand for core pharmaceutical products and global demand for low-cost Indian generics, according to international rating agency, Fitch. [More]
'No impact of economic slowdown on rural consumers'
According to a study commissioned by the Rural Marketing Association of India (RMAI), the Indian rural economy has not been impacted by the economic slowdown, with rural incomes witnessing an increase due to continuous growth in agriculture for four consecutive years. [More]
TCOM to pump in $430 m for S'pore unit, cable system
Tata Communications (TCOM) is investing US$ 430 million for developing a data centre in Singapore and completing its intra-Asia cable system, Tata Global Network (TGN). [More]
IT cos extend reach in Egypt
Indian information technology (IT) companies such as Infosys, IBM Daksh and Firstsource are planning to set up global delivery centres in Egypt. [More]
Kotak ties up with Japan's GCA Savvian
Kotak Investment Banking has tied up with GCA Savvian Corporation, a Japan-based independent investment bank, for advising Indian and Japanese companies on cross-border mergers and acquisitions (M&As) between the two countries. [More]
Aircel plans Rs 1,100 crore investment in Karnataka
Aircel, a Chennai-based telecom operator, plans to invest Rs 1,100 crore (US$ 220.58 million) over the next year to set up base stations across Karnataka. [More]
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India is betting big on renewable energy sources, especially solar energy, with the government planning to make Nagpur the country's first solar city and Vihaan Network Ltd unveiling the world's first zero opex GSM systems, based on solar energy.
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"If you have tracked the life insurance sector in India so far, you will realise that it has immense growth potential. Last year, the industry witnessed almost 100% growth."
William J Toppeta
President
MetLife International
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The country's first Light Rail Transit (LRT) system, an air-conditioned elevated mass transport system, will be developed in Kolkata with an investment of Rs 6,000 crore (US$ 1.20 billion). The project will be built by a consortium of SREI Infrastructure Finance Ltd, Czech-based Amex International and West Bengal Transport Infrastructure Development Corporation Ltd. [More]
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Green Energy trust to spur renewable investments in India
GE Energy Financial Services and EPURON Pte Ltd Singapore, a regional subsidiary of Germany's Conergy Group, have launched Asia-Pacific's first renewable energy private trust to spur investments in wind, solar, biogas and biomass projects. [More]
Biggest renewable power project in Jharkhand soon
The Jharkhand Renewable Energy Development Agency (JREDA) is preparing to launch the biggest biomass-generated power project in the country in 2009-10. [More]
REVA all set to grow
REVA Electric Car Company Private Ltd, manufacturer of electric vehicles, is set to build a new assembly plant in Bangalore with a capacity of 30,000 units per annum. [More]
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