This is the second project in the country in which a metro rail project is being undertaken through a PPP model after the 71-kilometre Hyderabad metro project was won by Maytas Infrastructure. According to industry sources, infrastructure major Larsen & Toubro had also initially shown interest for the project, but backed out finally.
This is the first time Hill & Knowlton, part of the WPP group that has several joint ventures in advertising, is venturing into India in this area. The Hong Kong-based company has presence in more than 41 countries across the globe. The PR business has been attracting the attention of international agencies and many have already set up JVs or signed partnerships with Indian players.
India's auto component makers not only face slower growth in the domestic market, the Export Credit Guarantee Corporation of India is now refusing credit insurance to over 50 auto component companies that sell to the Big Three car makers in Detroit.
The company attributes the delay to the slump in demand for commercial vehicles in the country since the beginning of the current year.
The special discount of Rs 800,000 offered on the Honda Civic Hybrid is not sustainable by the car-maker and could be a strategy to clean up its inventory.
Days after NTT DoCoMo of Japan announced that it will buy 26 per cent in Tata Teleservices for $2.7 billion, NRI businessman C Sivasankaran has decided to put on the block his eight per cent stake in the company.
After 11 years of hanging like a sword on PepsiCo India Holdings Ltd, the government's condition that the company must dilute its equity in fully-owned downstream ventures is close to being waived.
The Foreign Investment Promotion Board (FIPB) has rejected a proposal by Tata Investment Corporation (TIC) to issue zero coupon convertible bonds (ZCCBs) with detachable warrants to its shareholders.
The government and Reserve Bank of India are working on measures that include relaxing norms for Non-Performing Assets (sticky loans) and prudential lending to kick-start key infrastructure projects.
Second-hand car prices have dropped 15 to 25 per cent following the imposition of stringent Supreme Court norms over repossessing and selling cars of owners defaulting on their loans.
Auto majors have introduced a range of petrol engines for compact cars that comply with the Euro-V norms and are meant for the export markets. This enables them to prepare for the stringent emission norms to be introduced in the country. While the latest compact cars manufactured in India are Euro-V compliant, the latest petrol car engines are highly fuel efficient.
Import duty on steel is a critical factor determining domestic steel prices. Auto component makers and automobile majors, faced with sagging sales over the last two quarters, have expressed strong reservations against the steel industry's demand for re-imposition of 5 per cent import duty on non-alloy steel (used to manufacture car bodies and stamped auto parts).
The government is discussing a number of policy measures to insulate India from the impact of the global financial crisis including further banking reform, industrial de-control, auctioning all loss-making public sector units, foreign investment in retail, amending labour laws and notifying important pending legislation like the Delhi Rent Control Act.
Singur divided between those who want Tata back and those who just want their land.
The regulator has suggested that all spectrum will be auctioned as opposed to the current policy of bundling it with a 2G licence. A beginning has been made with the auctioning of spectrum for 3G services, which is due later this year. Trai has also suggested that licences for any telecom service should be auctioned as opposed to the current policy, where it is given on a first-come-first-served basis. The new policy is expected to be ready by the end of December this year.
At least three major broadcasting companies have held discussions on forming a combine, the first of its kind, to counter the might of media buying houses in dictating commercial air-time rates.
India will be one of the key centres for design and development of the A350 aircraft, European aircraft manufacturer Airbus' answer to the Boeing 787 Dreamliner.
Manufacturers view the agreement - when it is signed - as a defence against the slowdown in the car market.
It is not clear, however, whether the two players are considering a majority stake or would be content as investors with 26 per cent.
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