With the high net worth individual (HNIs) base growing rapidly in the country, banking institutions and finance corporations are now intensifying their lending operations in the field of aviation.
The long wait for the global arms industry is drawing to a close. Top sources in the Ministry of Defence have confirmed to Business Standard that a revamped policy for defence procurement and production is almost finalised.
HDFC Bank's customers will now be able to enjoy a complete suite of banking and commerce services over their mobile phones with the bank partnering with ngpay, a mobile solution brand from JiGrahak Mobility Solution.
STAR India, a wholly owned subsidiary of STAR Hong Kong, is exploring the possibilities of getting into the print media business in India. Last week, top STAR executives including STAR Hong Kong CEO Paul Aiello, STAR India CEO Uday Shankar and COO Jagdish Kumar were in Bangalore for meetings with possible joint venture partners for the print foray. The company is said to be in talks with Vijay Mallya's UB Group.
In its 29th report, which was tabled in Parliament earlier this week, Parliament's Standing Committee on Defence writes that it is 'startled' to be told that the tank had performed poorly in winter trials, and that it was miles away from meeting the army's requirements.
Qualcomm Incorporated, a developer of wireless technologies and data solutions, on Tuesday announced its plans to invest in Indian startup companies offering technologies and services that enhance the wireless communications and semiconductor ecosystems.
With the MoD loosening its hold over its shipyards, Garden Reach Shipbuilders and Engineers buzzes with a capitalist energy never seen before in the 124-year history of that shipyard.
Karnataka has registered a lower rate of growth in its gross state domestic product (GSDP) compared to the national average in 2007-08. It logged a 7 per cent growth in its GSDP as against the national advance estimates of 8.7 per cent. Inflation was more or less the same as that of the country. The performance of secondary and tertiary sectors (comprising industry and services) has turned out to be a major disappointment unlike the agriculture sector, which has fared better.
A single armed sentry post and a strand of barbed wire atop the boundary walls are all that hint at an ultra high-security installation -- the Directorate General of Naval Design -- that has fathered battleships like the INS Mumbai, which turned heads across the globe when it sailed into war-torn Beirut in 2006 to evacuate hundreds of Indians stranded by Israel's attack on Lebanon.
The Indian biotech sector continues to face an acute shortage of specialists. But now there is a ray of hope, interestingly from a dark story being narrated in the pharma and biotech sectors in the United States and Europe. The sector is seeing downsizing there. This has made scientists of Indian origin explore opportunities in India. "The shortage and the noticeable gap is in terms of discovery-led drug development," said Kiran Mazumdar Shaw, CMD, Biocon
Two years after the then JD(S)-BJP government announced the cart-and-bullock scheme for the farming community, the State Executive Committee headed by Governor Rameshwar Thakur gave a silent burial to the scheme last week after stopping short of branding it a 'complete failure'.
Even states like Chhattisgarh, Kerala and Himachal Pradesh which were way behind, have now gone several notches up in their rankings. The survey has also exposed another southern state Andhra Pradesh which has fallen to number eight from the earlier fifth position. Politically-sensitive Gujarat has witnessed a major fall in its ranking by dropping 15 levels to occupy the 19th position.
Amongst the most aggressive of India's hopeful new Lockheed Martins is the Rs 1,30,000-crore Tata Group, which has launched a carefully crafted bid to become a major player in India's defence industry.
In 2001, George Fernandes was in the cross hairs of the Comptroller and Auditor General over the purchase of allegedly overpriced coffins for soldiers killed in battle. Seven years later, the CAG has zeroed in on Fernandes' pet project -- a new ordnance factory in his parliamentary constituency, Nalanda, to manufacture 155 mm ammunition for Bofors guns -- slamming it as a poorly planned project that was rushed through urgently.
Barclays, a global financial services provider, announced the launch of 'Hello Money', a mobile banking service for its customers. The service will enable Barclays' customers access banking services anytime/anywhere on-the-move through mobile phones.Barclays customers can now perform account enquiries and financial transactions by simply dialling *598*1#. They can carry out secure banking transactions like fund transfers, bill payments, requests and other banking services.
A rail link is proposed to carry passengers from Bangalore's centre to the new international airport. The Karnataka govt. has formed a SPV for this project.
The move, alleged employee sources, started somewhere in mid-January. While at least 80 employees were asked to resign over the past week, one company source asserted that as many as 300 employees were being asked to leave. The company, however, dismissed the employee allegations as pure speculation.
VBT is opening its new manufacturing facility, costing Rs 80 crore, through a joint venture with Azad group at Hoskote near Bangalore on Thursday. Initially, VBT will produce 450 buses and by 2010 the unit will reach its full capacity of 1,000 buses, he said.
Sources say Carnegie Mellon's president Jared L Cohon, who was in Bangalore recently, held discussions with senior state officials in this regard. The university is planning to establish a skeleton presence in Bangalore to study the market condition before starting a full-fledged campus here. They want to help the IT sector in the country secure quality manpower.
The DRDO says the programme has now reached maturity, and that international sanctions cannot hurt it. There is also a degree of self-confidence in the DRDO, which allows it to acknowledge the role played by other countries. International collaboration is no longer a bad word.
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