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23 Nov 2009Business
With signs of green shoots showing in economies worldwide, India Inc’s appetite for overseas acquisitions got a fresh lease of life with Reliance Industries’ estimated $10-12 billion offer for a controlling interest in bankrupt LyondellBasell Industries.The deal by India’s largest private sector company controlled by Mukesh Ambani, if closed, will make it one of the largest petrochemical outfits i...
Business Standard | 2 Hour(s) Ago
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Kurlon Ltd, a Bangalore-based mattresses firm is foraying into the Rs 13,000 crore home, kitchen and off-ice furniture segment. The company as part of its diversification strategy has set up a 60:40 joint venture with a family-owned little known Italian firm - Cesare, to manufacture Italian designed sofas in India. Kurlon is looking to enter kitchen and office segment during next year.The company ...
Business Standard | 2 Hour(s) Ago
With the global debate on climate change heating up and nations working out strategies to cut their carbon footprints, energy efficiency has gained a renewed focus in economies across the world. The bilateral co-operation between India and the US in the field of energy-saving technologies, thus, would go a long way in securing energy needs of both the countries, says Tom Cutler, acting director in...
Business Standard | 2 Hour(s) Ago
My first meaningful encounter with environmental law was in a Supreme Court PIL involving use and storage of asbestos in industrial activity, specifically in relation to employee health. I recall a random remark, meant in good faith, in a preparatory meeting with the manufacturer client alluding to “a price one paid for the benefits of industrialisation". It was not meant to be frivolous. Several ...
Business Standard | 2 Hour(s) Ago
The Securities and Exchange Board of India (SEBI) is reported to have proposed to the finance ministry to amend the Securities and Exchange Board of India Act, 1992 (SEBI Act) to enable senior officials of SEBI to become members of the Securities Appellate Tribunal (SAT), the special court that hears appeals against orders passed by SEBI.The SEBI Act imposes a cool-off period of only two years fro...
Business Standard | 2 Hour(s) Ago
This is the seminar time for the most topical subject, the proposed GST, as in the discussion paper presented on November 10, 2009. While the Industry and trade have reacted favourably, there are some criticisms which are unjustified. This is how they stand.(1) Threshold:Different thresholds have been proposed, Rs 10 lakh for SGST (lower for some underdeveloped states), Rs 1.5 crore for CGST for g...
Business Standard | 2 Hour(s) Ago
Almost all the sugarcane factories have started cane crushing for the season. With crushing activity picking up, industry players estimate that around 100 lakh tonnes are likely to be crushed in 2009-10, while government has pegged the figure at 107 lakh tonnes.Gujarat has total 17 sugar factories run on co-operative basis. "Sugar factories have started crushing and they are operating at fully cap...
Business Standard | 2 Hour(s) Ago
‘Clear the proposal for laying of optical fibre network before Dec 7’.The defence ministry has agreed to release 25 MHz of 3G spectrum in the 1920 MHz-1980 Mhz band before December 7, but with a pre-condition — the government will clear the proposal for laying of an alternative optical fibre network for the military before that date and create a monitoring mechanism for the project’s implementatio...
Business Standard | 2 Hour(s) Ago
Jindal Rail Infrastructure Ltd, a 100 per cent subsidiary of Jindal ITF, the infrastructure arm of Jindal SAW Ltd, is likely to finalise a technical tie-up with a Japanese company for manufacturing of electric multiple unit (EMU) coaches at its upcoming wagon making facility at Karjan near here.Indresh Batra, managing director, Jindal SAW Ltd and vice-chairman Jindal ITF, part of the $12 billion O...
Business Standard | 2 Hour(s) Ago
Trying to resolve sticking points on the India-US civil nuclear cooperation agreement on the one hand, and narrow differences on their approach to climate change on the other, India and the US are likely to sign a joint Memorandum on Energy Security, Clean Energy and Climate Change during Prime Minister Manmohan Singh’s visit to the United States this week.Top officials told Business Standard that...
Business Standard | 2 Hour(s) Ago
Recently L N Mittal, the world’s top steel maker, announced in London that he may shift his 12-million tonne steel project out of Orissa because of the long delay in land acquisition and local opposition to the project.Other promoters of mega projects in the state, such as the Tatas and South Korean steel major Posco, confide the same thing.Orissa may have attracted investment intent of over Rs 6,...
Business Standard | 2 Hour(s) Ago
With gradual improvement in the security scenario in North Cachar Hills district of Assam, following the surrender of 'Black Widow' militants, work on the Lumding-Silchar railway gauge conversion project has begun.A senior official from Northeast Frontier Railway (NFR) informed that most of the companies, which had earlier abandoned the project, had resumed their works and around 35 companies were...
Business Standard | 2 Hour(s) Ago
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