The domestic steel industry had been lobbying for a 10 per cent import duty to discourage imports and provide support to the falling domestic prices. According to steel industry, cheaper steel import was contributing to its sagging sales. Leading steel companies like Steel Authority of India Ltd and JSW have witnessed a 25-30 per cent dip in consumption demand.
The Union government today filed a fresh affidavit in the Bombay high court, which is hearing a dispute over supply of gas from Krishna Godavari basin, stating that any sale price less than $ 4.2 per mmBtu is not compatible with decisions taken by a ministerial panel.
Recruitment-related HR executives are being moved to other HR functions like training and development and other day-to-day HR functions, or being taken on contract. If things worsen, there could also be layoffs. Companies like Wipro, Infosys, TCS and iGate, too, have a mix of contractual employees in their HR team.
The power major generates about 95 million tones of fly ash from its various units annually. Fly ash is an important raw material for cement business. However, the official did not specify where the projects would come up, or what would be the investment involved in the envisaged cement projects and NTPC's share in the JV.
With store rentals dropping as much as 35 per cent in the last one year, retailers say opening stores in certain locations has become profitable. As a result, some retailers plan to roll out their bigger format stores and others are booking retail spaces that will come up in two years at a much lower cost.
Within the IT industry, reactions to Barack Obama's historic victory have not been as pessimistic as expected. IT firms have been worried because Obama, as Senator, introduced the Patriot Employer Act of 2007 that gave tax credits for companies that maintain or increase the number of full-time workers in America relative to those outside the US.
The US subsidiary of Sun Pharmaceuticals, Caraco Pharmaceutical Laboratories, has received a warning letter from the Food and Drug Administration.
Most felt that it would take time for the impact to percolate to industry as banks were reluctant to immediately pass on the benefit. Moreover, the volatility in the stock and credit market is expected to stabilise only after a couple of months. Indian companies said the central bank measures won't revive consumer sentiment and also not encourage companies to revive expansion plans that have been put on hold.
A no-holds-barred fight for the control of the most popular television news channel in the North-East has broken out between the husband-wife duo of Matang Sinh and Manoranjana Sinh. Each has charged the other with financial impropriety and mismanagement.
Parsvnath Developers is expected to sack its non-performing staff post Diwali as part of its cost cutting measures. "Non performers have to go. Cost cutting measures will start in 15 to 20 days,'' said Pradeep Jain, chairman of Parsvnath, told reporters on the sidelines of a conference in New Delhi on Friday.
As a part of this strategy, the company is rolling out its first brand campaign in India roping in real-life business heros and entrepreneurs to endorse its products, especially targeting the small and medium businesses. This is in a slight change in its marketing strategy which was earlier largely focussed on the large enterprises.
According to the package, the dues will be cleared in six monthly instalments by March 2009. Current ATF purchases will get 90 days' credit, supported by bank guarantees. Also, jet fuel price revisions will henceforth happen every fortnight. Praful Patel on Thursday admitted in the Lok Sabha that it may take another two months to make the recently-opened third runway at the Delhi airport fully operational.
Yes Bank plans 100 bps cut, other private players to wait; public sector may move first. The bank, which currently disburses loans to corporate clients at around 17 per cent, may also pare deposit rates by 50 basis points in December.
The list of end use includes investments in the industrial sector, foreign direct investment in joint ventures or 100 per cent subsidiaries, first-stage acquisition of shares in disinvestment and open offers as well as micro-lending to self-help groups by NGOs.
Protests following the arrest of Maharashtra Navnirman Sena chief Raj Thackeray on Tuesday crippled retail businesses in and around Mumbai, the commercial capital of the country
American investments in West Bengal are likely to suffer to a certain extent due to the Singur issue.
'Credit restrictions and the lack of liquidity caused by the crisis could lead to a reduction in supply. While coffee fundamentals remain in a tight balance, the price outlook in the short run is likely to continue to be dominated by the instability of world financial markets,' said Nestor Osorio, executive director, ICO.
Air India has announced that it will be adding to the seamless transfer facility to passengers from Bangalore travelling to international destinations like New York, Newark, London, Frankfurt and Chicago by introduction of a new hub and spoke flight between Bangalore and Mumbai from October 26.
Infosys had bid at 600 pence a share for the UK company. Infosys will get the one per cent inducement fee that Axon has to pay to the party unable to close the deal.
New York-based REcap Partners-LLC is all set to buy out Chennai-based business process outsourcing firm HOV Services along with its two units operational in Beijing and Hong Kong for around Rs 950 crore
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