Taking a hard knock in the recession-hit US and other major markets, India's exports nose-dived by 22 per cent in January, dashing all hopes of a recovery riding on the December figures.
The Kushan Pal Singh-led realty major has halted construction work on nearly 16 million sq ft of office and retail mall space out of the 62 million sq ft of planned construction. In the office space, the developer has stalled construction on nearly 12 million sq ft of office space out of the 36 million sq ft of space being planned.
Last week, the 20-hectare zone had got embroiled in a controversy amid reports that the state government was taking back the land. This was after allegations that the land was allotted in an unfair manner. But Chief Minister Rajasekhara Reddy said the government would not cancel the allocation as the company was "sound."
The aggrieved shareholders, who have come together under the banner of The Indian Film Company Requisition Group, has said in a fresh communication to IFC that they were legally entitled to get access to the share register. A copy of the communication was provided by Bankside Consultants, the PR agency representing IFCRG.
Ranbaxy's investment in the six-year-old joint venture for the 50 per cent stake is estimated at Rs 30.5 crore (Rs 305 million). Industry sources said the deal was unlikely to impact Ranbaxy's financials as revenues and investment in the joint venture was not significant. Sources said revenues from NPI were only $25 million in 2007 through the sale of four generic products.
According to a decision taken by the Cabinet Committee on Economic Affairs, the Commission on Agricultural Costs and Prices will consider the above elements while recommending the MSP. The CACP, an advisory body under the agriculture ministry, recommends MSPs of over 20 crops, including wheat and rice.
TCL wants to raise around Rs 10 billion through a rights issue, sources familiar with the developments said. This means the government will have to invest Rs 2.6 billion to retain its stake in the company, in case it approves the issue. The company needs to raise fresh equity for any fresh borrowing, as it has already reached the maximum limit of debt vis-a-vis its net worth, as stipulated under the shareholder agreement.
Andhra Pradesh chief minister YS Rajasekhara Reddy said on Sunday public projects being implemented by Maytas Infra in the state, individually or as part of consortia, were being closely reviewed. Andhra Pradesh chief minister YS Rajasekhara Reddy said on Sunday. The total value of the projects awarded to Maytas and its joint venture partners amounts to Rs 3,800 crore (Rs 38 billion).
According to industry leaders, the ongoing strike is also going to dampen production and also hit the timely delivery of goods to the customers. The transporters are mainly demanding that diesel prices be reduced by at least Rs 10 per litre, a uniform VAT of 4 per cent on the fuel, withdrawal of service tax on truck operators and rationalisation of tyre prices.
The government has given clear instructions to the state governments to take necessary steps to ensure smooth transportation of essential commodities. "If the situation demands, the law of the land will prevail. The law of the land says the permit of truck operators could be revoked if the situation demands. The government is committed to provide full support to the state governments," said Brahm Dutt, secretary, ministry of road transport and highways.
With the stock markets yet to recover and banks lowering fixed deposit rates, companies accessing public deposits are seeing investors parking funds.
A majority of Indian CEOs do not expect economic prospects to improve in 2009 and feel growth is constrained by the liquidity crunch, negative sentiment and demand recession in the economy.
The government is expected to announce the second stimulus package in the next three days.
Permitting realty firms to tap ECBs, relaxing borrowing norms for non-banking finance companies, increasing the ECB limit 50 per cent to $750 million under the automatic route (that is, without central bank permission) and raising the price ceiling at which overseas loans can be raised are among proposals the committee is considering. For realty, the committee may relax norms only for integrated township projects, said a top finance ministry official.
The decisions come within 24 hours of the home loan package offered by public sector banks. Chennai-based Indian Bank reduced interest rates of domestic term deposits of Rs 1-5 crore (Rs 10-50 million) by 150-25 basis points across various maturities.
Members of the Beijing Special Armed Police Unit (BSAPU) used a helicopter and ropes to get 10 metres down to the ground. They then shot targets of swaying eggs 15 metres away within 1.5 seconds to practice "killing" terrorists. After breaking through windows, police rescued the "hostages."
The government on Sunday announced a package of Rs 1,400 crore (Rs 14 billion) under the Technology Upgradation Fund Scheme and 2 per cent interest subsidy up to March 31 next year. But the textile industry had demanded 4 per cent interest subsidy along with reintroduction of the duty drawback scheme.
The infrastructure sector, however, felt the package was insufficient and wanted additional measures. "The government's package is inadequate. We expected at least $20 billion relief package, giving emphasis to the infrastructure sector.
Investors, at a recent property exhibition concluded by magicbricks.com, were seen selling flats at 30 per cent discount to the market rate compared with the builders' offer of 15-20 per cent, according to reports. Investors normally comprise about 30 per cent of the property markets.
Football icon Diego Armando Maradona arrived to a rousing welcome by thousands of frenzied fans who remained awake till past mid night waving Argentina's national flag of white and sky blue for first glimpse of the legend at the city airport here.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances