ECONOMY & NATION


Odisha has already transferred 500 acres to Posco for setting up the proposed plant, which has an original capacity target of 12 mt, involving an investment of Rs52,000 crore Mumbai: After seven years of delay, the Posco steel project will start rolling soon as Odisha has started...

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There have been demands to slap higher duty on overseas power gear to provide a level-playing field for domestic manufacturers, mainly from China New Delhi: The Prime Minister's Office (PMO) on Wednesday asked the Power Ministry to float a new Cabinet note on increasing duty on import of...

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Alstom T&D will supply, erect, test and commission 80 MVAR and 110 MVAR reactors for 765 kV substations in Bihar, Jharkhand, Chhattisgarh and Uttar Pradesh Mumbai: Power generation and transmission company Alstom T&D on Wednesday said it has received two contracts worth Rs176 crore from...

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The West Bengal government and Chaterjee group, promoters of HPL are locked in a bitter battle over transfer of shares of the company Kolkata: The Calcutta High Court on Wednesday refused to pass an interim stay on any proposal for transfer of shares of Haldia Petrochemicals Ltd (HPL) to...

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Mobile operators in Nigeria blame the bad quality of services on poorly developed infrastructure like electricity which, they say makes it cumbersome to deliver services to subscribers Abuja: Airtel Nigeria, subsidiary of Bharti Airtel, South Africa's MTN, Abu Dhabi's Etisalat and local...

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BHEL is finding it difficult to transport heavy equipment to other parts of country from its plant in Tamil Nadu and hence is setting up a unit in Bhandara district in Maharashtra Nagpur: State-run Bharat Heavy Electricals Ltd (BHEL) is setting up a fabrication unit at a cost of Rs1,000...

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Aditi Jhunjhunwala 22 June 2012
As per RBI guidelines notified on 20th June, only big business houses and corporates would venture into this area. However, these entities need to ensure the safety of the customers and public at large The Reserve Bank of India (RBI) had come up with draft White Label ATMs (WLAs)...

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To a question on deputy CM Ajit Pawar's comment expressing surprise how the Chief Minister's chambers survived the inferno, Chavan said his chambers are paperless and there was only one notepad on his table   Mumbai: Following Thursday's fire at Mantralaya, the state secretariat,...

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A crisis in European banking system can choke trade, finance and economic growth not just in the Euro Zone but in the world at large   Bangalore: India on Friday said a crisis in the European banking system can choke trade and finance and in the process global economic growth, and...

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The Trinamool Congress chief said her government is with farmers and farmers unwilling to give their land in Singur, would get it back   Kolkata: In wake of the Calcutta High Court holding as unconstitutional the Singur Land Development Act, West Bengal Chief Minister Mamata Banerjee...

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Installing set top boxes in each cable viewing household is a precondition for digitalisation and even a fortnight before the 30th June, it was estimated that only 30% of households had acquired STBs   New Delhi: The government has deferred the digitalisation of cable TV services in...

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In 2007, the MRTPC let off the cement companies with only a cease and desist order. This time the CCI has imposed a hefty penalty of Rs6,200 crore, equivalent to 50% of their profit for 2009-10 and 2010-11 New Delhi: The Competition Commission of India (CCI) today imposed a hefty penalty...

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Ramesh S Arunachalam Ramesh S Arunachalam 21 June 2012
Client-level controls assumes great importance in the common BC model, as without these banks and BCs could lose control of their operations and be exposed to significant costs and risks If there was one major learning (at least for me) from the 2010 Andhra Pradesh (AP) and Indian...

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The TDSAT direction came over the complaints filed by three MSOs who have sought that the broadcasting houses stay the unauthorised re-transmission of their signals in the state   New Delhi: The Telecom Dispute Settlement and Appellate Tribunal (TDSAT) has hauled up channel...

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The two leaders have reiterated their intention to promote regular ministerial-level exchanges and make full use of the strategic dialogue and other bilateral dialogue mechanisms   Rio de Janeiro: India and China have agreed to enhance their defence and security dialogue and take...

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Installing set top boxes in each cable viewing household is a precondition for digitalisation and even a fortnight before the 30th June, it was estimated that only 30% of households had acquired STBs   New Delhi: The government has deferred the digitalisation of cable TV services in...

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Maharashtra sells thermal power to industry and commercial units at Rs8-Rs12 per kWh, while solar power prices have dropped to Rs7 per kWh   Frenetic bidding for solar projects have brought down feed-in tariffs to just Rs7 per unit (or kWh), Union minister for renewable energy Farookh...

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Fitch said while banks continue to have reasonable customer deposit base, domestic franchises and adequate capital, the NBFCs lack the funding advantage, which puts them more at risk during times of increased market volatility   New Delhi: Ratings agency Fitch on Wednesday cut credit...

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Moneylife Digital Team 19 June 2012
Canadian research firm Veritas charges that RCom is entering a phase of maximum uncertainty. The company calls the report mala fide. The latest bombshell of a research report on Reliance Communications (RCom) by Canada-based Veritas Investment Research titled, "A House of Cards", alleges...

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Moneylife Digital Team 19 June 2012
The independent researcher applies an innovative 50% “governance discount” to the intrinsic value of Rs30 Reliance Communications Ltd (RCom) the crown jewel of Anil Ambani (if there is indeed any such jewel in his crown of thorns) should be valued at just Rs15, against the current market...

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