According to sources close to the development, the ministry feels that the National Textile Corporation (NTC), which has put the land on sale, will get better prices than the bid put in by Lodha Developers. The company, which had initially placed a bid of Rs 657.90 crore (Rs 6.57 billion), later hiked it to Rs 710 crore (Rs 7.1 billion), following a request from NTC.
Mushrooming app stores are offering a huge 70 per cent revenue to developers.
Prices of agricultural commodities have risen 23 per cent so far this month.
Last year, the group held discussions with potential investors and started putting in place a management team to run the fund. Knight Frank India executive director Keku Cola was expected to head the new fund, but he has quit and joined the Shapoorji Pallonji group. According to a report by global research firm Preqin, private equity real estate funds are still struggling to raise capital in the current economic environment.
After Pune, the swine flu scare is affecting footfalls and sales in malls and retail stores in Mumbai. Sales in these places have fallen by up to half in the past two days.
Experts believe it will take another three to five years for Indian IT firms to move to a non-linear business model.
Shopping malls, multiplexes and top retailers in Pune are seeing as much as a 70 per cent drop in business owing to the swine flu outbreak in the city.
After a long hiatus, home sales are finally back on track. Sales of major real estate developers have more than trebled in the June quarter compared to the preceding three months, amid growing expectations that the good times will continue to roll.
This upturn comes soon after an earlier stalling of demand. In February, DLF, the country's largest property developer, said it had stalled construction on 16 million sq ft of commercial space (retail and office) due to lack of demand. So, too, with other developers like Unitech, Parsvnath and Raheja, who either stalled or slowed the construction of their commercial properties because of a demand-supply mismatch.
Property developers plan more launches in the sub-Rs 20 lakh category of homes, after Monday's Budget concession.
McKinsey, RBS postpone placements by three to six months
Want to appoint CFO, advisory board and governance committee.
According to a web information company, Alexa, Google dominates the charts but Bing is already at 19th position with about 5 per cent of users from India accessing internet to visit Bing.
The additional step is the result of a Reserve Bank of India's guideline issued this February that mandates additional authentications/verifications based on information about the card-holder that is not contained on the card. This measure is expected to contain online card fraud.
In a bid to reduce costs and increased offshoring focus, Tata Consultancy Services, India's largest information technology company, has recalled close to 1,200 employees from the US and has decided not to hand out any salary increment this year.
Third attempt to get more buyers, property market still quite depressed.
'Our visit gives us an opportunity to understand the culture of the country.'
So far, VCs used to fund start-ups which either had product prototypes ready or had some customers on board.
Patience, however, ran out for over a dozen global brands, including GAS, Replay, Etam and Argos. All of them have ended their joint ventures or franchisee arrangements with Indian retailers in the last one year due to reasons ranging from poor sales and high rentals to mounting losses and failure to open stores on time.
Nitish Mittersain, founder of Nazara Technologies, is among the few entrepreneurs who have remained unflappable in the current economic crisis. Having set up Nazara, a mobile entertainment company, right at the time of the dotcom bust, Mittersain claims to have sufficient experience to withstand this financial downturn too.
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