Sixth Pay Commission has urged the government that all Indian Telecom Service (Group A) officers be absorbed in the public sector telecom service providers, Bharat Sanchar Nigam Ltd & Mahanagar Telecom Nigam Ltd, or sent to the surplus pool. It has also suggested winding up of the Telecom Commission saying BSNL and MTNL now provide extensive services along with several private sector operators. The report states there is no need to retain the 2400 cadre strong-ITS (Group A).
Maharashtra Hybrid Seeds Company Ltd (Mahyco), the seed partner of multinational agro-biotech major Monsanto Corporation, has moved the Delhi High Court against a Central Information Commission order seeking details of the safety test data generated during clinical trials of its genetically modified (GM) brinjal, the first GM edible crop to be introduced in India.
358 of 413 drug patent applications for the disease in India are from top multinationals. An analysis of pharma patent applications pending with the patent office by the group, which did not wish to be identified, has put the number of cancer drug patent applications at 413. Of these, 358 came from top multinationals like Novartis, Aventis, Bristol Myers Squibb, Pfizer, Boehringer, Roche and Abbot.
Last month, Barun K Gorain, a non-resident Indian with Canadian company Barrick Gold Corporation came to Delhi with a $10-million proposal for suggesting a viable method to recover silver from Barrick's gold mines in Argentina.
Unitech and Indiabulls Real Estate Ltd (IBREL) have deferred the listing of their respective real estate investment trusts (REITs) on the Singapore Stock Exchange (SGX)owing to the liquidity crunch in the global markets. Both Unitech and IBREL have received approval from the SGX for the initial public offers (IPOs) of their trusts.
Till some months ago, when several doctors led by Naresh Trehan left the hospital, the same area used to resemble a railway station -- such was the rush. It was a regular feature for patients to wait a couple of hours before the appointment with the doctors came through. Shivinder Mohan Singh, managing director of Fortis Healthcare which acquired the hospital from Escorts Ltd for Rs 585 crore (Rs 5.85 billion) in 2005, insists this only shows the efficiency of the doctors.
Mumbai-based property developer Oberoi Constructions, led by billionaire Vikas Oberoi, is planning a Rs 4,000 crore ($1 billion) initial public offer by year end. Vikas Oberoi, also known as Vikki Oberoi is at the 707th slot in the Forbes annual list of billionaires with a wealth of $1.7 billion.
Betting on higher margins from private labels, Reliance Digital, the consumer durable chain of Mukesh Ambani's Reliance Retail, is planning to introduce its own brands of home theatres, LCD televisions and digital cameras. The brands, according to a source, will be called Rldigi. Reliance Digital is planning tie-ups with domestic and international consumer durable and appliance companies. These private labels are expected to contribute 12-15 per cent of Reliance Digit
The tax holiday awarded by the Union Budget to healthcare and IT sectors has been greeted with enthusiasm. Major hospital chains had already announced plans to expand in tier 2 cities. The tax holiday has proved to be an added incentive. India needs 3.1 million new hospital beds in the next 10 years. The tax-holiday benefits are available for all new hospital projects except the ones coming up in cities like Delhi, Mumbai, Kolkata, Chennai, Hyderabad, Bangalore & Ahmedabad.
Even as India is fast turning into the diabetes capital of the world, multinational drug companies are busy patenting new-generation diabetes medicines for exclusive marketing rights in the country.
Future Group will retail lightings and electrical products under a new brand - Bijli Ghar.
Today's Writing Products is entering retail of office supplies and stationery products with 500 retail outlets.
Videocon's consumer durable and electronics chain Next has opened nearly 330 stores in the last two and half years, making it the largest chain in the country. Turnover is expected to cross Rs 1,000 crore (Rs 10 billion) in this financial year. Business Standard caught up with Next's Director K S Raman on the company's growth plans.
Punjab is opposing Centre's area-based tax exemption policy while the underdeveloped states are lauding it as a "well deserved" package.
The aircraft costs nearly $45 million (nearly Rs 180 crore). The company owns a 12-seater Challenger 604 and a seven-seater Cessna Citation Bravo under the fixed wing operations.
Real estate developers like Indiabulls, DLF, Peninsula and even retail giant Future group are all considering converting space reserved for malls and hyper-markets to office space to meet heavy demand from financial institutions, investment banks and large companies.
NPPA will begin analysing pricing trends of 74 bulk drugs that come under the government-notified price-controlled list every quarter.
Reliance Retail has tied up with Microsoft to launch the concept of connected homes.
Deals indicate growing interest of private equity firms in India's pharma and healthcare segments.
India's fourth biggest realty company (by market cap) Indiabulls Real Estate (IBREL) on Tuesday said that it was planning to launch an initial public offering (IPO) for its property trust Indiabulls Properties Investment Trust (IPIT) on the Singapore Stock Exchange (SGX).
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