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.
The Bangalore Chamber of Industry and Commerce (BCIC), which represents the medium and large industries in the state, has urged the Karnataka government to come out with a state-specific relief package for the industrial sector including announcement of a one-year interest free loan scheme to industries.
IITians need to play a larger role in nation building and contribute to society. This could vary from mentorship, creation of jobs and broader wealth creation, said Nandan Nilekani, co-chairman and co-founder of Infosys Technologies Ltd, during the weekend.
Independent research firm Forrester Research has in its latest tech market report titled 'US IT Market Outlook: Q4 2008' revised its 2009 US IT spending forecast.
The study, the details of which the company executives highlighted here on Thursday said, an average employee fritters away 5.3 hours in a week in doing internet surfing, not related to business. The employee productivity loss in manufacturing was 4.2 hours/week, said the report.
In addition to that, an increasing number of airlines like SpiceJet, national carrier Air India and GoAir are either getting into hedging of aviation turbine fuel or increasing the quantum of ATF hedged on the MCX. Last month, state-run Indian Oil Corporation approached MCX to provide it with a platform to hedge its refinery margins and end products from crude oil.
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.
Roche expects to start selling Actemra by April 2009, company sources said. India will be the second country to launch the drug, Japan being the first. The Indian drug regulator Drug Controller General of India usually approves a new drug marketing application based on safety and efficacy data cleared by regulators in the US, EU and other developed countries.
Spencer's Retail, the retail arm of RPG Group, says it has seen a 30-40 per cent decline in the rentals in Tier-II and -III cities. In Tier-I and metropolitan cities, the correction is in the range of 15-20 per cent, and a further correction and its impact is likely to come in the next few months.
The Mumbai terror attacks have once again put Indian IT and business process outsourcing firms on high alert. Over the next four to five weeks, many of these firms plan to meet or video-conference with their clients to update them of the country's security scenario.
The government is likely to announce early next week a series of measures to boost economic activity in the country.
The country's new home minister, Palaniappan Chidambaram, today said he prefers a Congressman as his successor in the finance ministry, setting off speculation about the implication of his statement.
Hotels are not typically equipped to handle terrorist attacks and present ideal soft targets around the world, according to experts. Even the private security guards that the hotels hire do not always have the expertise to use weapons. This is set to change now, hotel officials say.
Since Thursday, several carriers, mainly international, have cancelled their flights in and out of Mumbai due to sparse load factor or the inability of the crew to reach the airport. Amongst the domestic carriers, Kingfisher Airlines combined around eight flights. Air India also clubbed some of its flights in the domestic routes. Jet Airways, JetLite, IndiGo and SpiceJet did not cancel any flight.
For instance, India's largest IT firm Tata Consultancy Services -- which is headquartered in south Mumbai where terror struck -- asked its employees to operate out of any of the offices in north Mumbai until further advice. Similarly, Aegis BPO that has a corporate office in Mumbai has asked its employees in Mumbai to operate from home as they all have broadband connections and BlackBerry(s), said Aparup Sengupta, CEO, Aegis BPO.
India Health Card works similar to a debit card. The NRIs are required to load funds onto the card through the Internet and then use it to receive healthcare services from healthcare providers in India. If a patient's health care provider is not a part of the IHC network, IHC will contact the concerned provider and explain the no-fee registration process. The beneficiaries will also receive service at a discounted rate by using the card.
In response to liquidity problems faced by the mutual fund industry because of a surge in redemptions, RBI on October 14 announced a 14-day term repo facility to meet liquidity requirements of mutual funds. The facility was further extended till March 31 next year.
The announcement comes in the wake of the consolidation of Future-Axiom's other mobile brands under the brand name 'One Mobile'. The company plans to open 1,500 stores and touch points in the country by December 2009, giving it a reach in 58 cities.
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