| POLICY WATCH |
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RBI permits zero-coupon NCDs
| The Reserve Bank of India (RBI) has allowed companies to issue zero-coupon non-convertible debentures (NCD) at a discount to the face value, according to the final guidelines for issuance of debt instruments. |
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RBI issues new valuation norms for insurers too
| Insurance companies will be required to adhere to the Reserve Bank of India's (RBI) latest guidelines on pricing of shares of unlisted companies, increasing the amount investors would have to pay for buying into them. |
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Uniform building guidelines okayed
| Government of Tamil Nadu has approved uniform guidelines or Development Control Regulations relating to special buildings, multi-storeyed buildings, group developments, layouts and sub-divisions. |
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| PEOPLE |
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Lalita Gupte on Alstom's board
| Paris-based power generation and rail transport major Alstom has appointed Lalita Gupte, the former ICICI Bank Joint Managing Director, as an independent member on its global board of directors. |
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Indo-American wins Republican governor nomination for South Carolina
| Nikki Haley, an Indian-American, has won the Republican nomination for South Carolina's gubernatorial elections to be held in November 2010. |
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Anshu Jain appointed global head of Deutsche Bank
| Deutsche Bank, Germany's biggest bank, has appointed Anshu Jain as the sole head of its corporate and investment bank, the company's biggest money maker. He will assume his responsibilities from July 1. |
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| ECONOMY AND ENTERPRISE |
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India expects to grow at 9 per cent by 2011-12: PM
| India expects to grow at 9 per cent by 2011-12, said Prime Minister Dr Manmohan Singh while addressing the G-20 Toronto Summit. |
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Domestic air traffic up 22% in May
| The domestic airlines flew about 4.78 million passengers in May 2010, an increase of almost 22 per cent over the number carried in the same period in the previous year. |
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India-led M&As touch $40 billion in January-June 2010
| Mergers and acquisitions (M&As) in India touched US$ 40 billion in the first six months of the year, according to a Thomson Reuters M&A report. This is the best first half since 2007. |
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Hinduja BPO arm acquires UK-based company
| Hinduja Global Solution Ltd (HGSL), a business process outsourcing (BPO) company and part of the Hinduja Group, has announced that it has bought UK-based customer relationship management company Careline Services Ltd. |
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Piramal Healthcare signs pact to acquire BioSyntech's assets
| Piramal Healthcare Ltd has signed an agreement to acquire BioSyntech Inc's assets for a consideration of C$ 3.9 million (US$ 3.8 million). |
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Ford India begins engine exports to Thailand
| Ford India Private Limited has started exporting 1.4-litre and 1.6-litre high-compression petrol engines from its Maraimalai Nagar plant to Thailand. |
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BEML to invest Rs 680 cr in new, existing facilities
| Earth moving equipment maker Bharat Earth Movers Limited (BEML) plans to invest Rs 680 crore (US$ 148 million) in new and existing facilities by 2012-13 and expects a turnover of Rs 4,200 crore (US$ 913.1 million) for the current fiscal, according to V R S Natarajan, Chairman and Managing Director, BEML. |
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Parenteral Drugs expands capacity to support value-added products
| Intravenous-products maker Parenteral Drugs India Ltd (PDIL) through joint venture (JV) companies in Mauritius, Nairobi (Kenya) and Almaty (Kazakh) is increasing capacity to support its value-added products and their distribution in local and overseas markets according to Anil Mittal, Chief Executive, PDIL. |
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RSB acquires 70% stake in Belgian engineering firm
| RSB Transmissions (I) Ltd, engaged in manufacturing of automotive, construction and farm equipment, has acquired, through its Netherland-based arm RSB Europe BV, 70 per cent stake in the Belgium-based construction equipment aggregate manufacturer Mechanical Supplies International NV (MSI). |
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The Government of Chhattisgarh will add 1,500 mega watt (MW) of power generation capacity by the end of the 11th Five Year Plan (2007-12).
Additionally, Reliance Industries Ltd (RIL) has announced its plans to enter the power business. According to Mukesh Ambani, Chairman and Managing Director of RIL, the company will bid for ultra mega power projects (UMPPs).
Meanwhile, The GVK Power and Infrastructure Ltd (GVKPIL) has entered into an agreement with the consortium of Hyundai Engineering Company Ltd (HEC) Korea and Larsen & Toubro Ltd for the execution of 800 mega watt (MW) Gautami Power Plant in Andhra Pradesh. |
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"India would play an important role in working out cost efficient ways of developing new drugs..."
Stephen Cutler
Kendle
COO |
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| India's first-ever 3 mega watt (MW) solar photovoltaic (PV) power plant has been set up at a cost of Rs 59.5 crore (US$ 12.9 million) by Karnataka Power Corporation Limited (KPCL) at Yalesandra village in Kolar district. |
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$1-b fund to boost Indian power firms in S. Asia
| The Government plans for an over US$ 1 billion sovereign-backed fund to boost trade and investment by domestic power utilities in South Asia. The fund is aimed at developing a South Asian regional energy grid, with focus on renewable sectors such as hydro, solar and wind. |
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IKF Green Fuels to set up two refineries
| IKF Green Fuels Ltd plans to set up two new bio-fuel refineries in West Bengal and Gujarat by December 2010 at an investment of Rs 50 crore (US$ 10.8 million), according to Mukesh Goyal, Chief Executive Officer, IKF Technology. |
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Power producer plans JVs for mega solar fields
| The Karnataka Power Corporation Ltd (KPCL), the state-owned power producer, has got an encouraging response from private firms for its proposal to form a joint venture (JV) to develop mega solar power plants in the state. |
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