Korean car maker Hyundai Motors India Ltd said it will have to lay off 2,000 temporary workers, about one-fourth of its labour force, to tide over a decline in car sales. The company employs over 8,400 workers, of which around 3,300 are temporary.
After much bickering, the Airports Authority of India and the state government-promoted Maharashtra Airport Development Corporation have agreed on the shareholding pattern of the company that will develop Nagpur's proposed international airport.
'Parents in the city don't worry about their young professional daughters coming home late at night in public transport. Having said that, there is no guarantee that this -- a better law-and-order situation in the city compared with other metros -- will protect you from a terror attack.'
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.
Yachts and luxury boats belonging to Mumbai's rich and famous have come under the scanner of intelligence agencies after the 26/11 terror attacks. The agencies are pleading with government authorities to take appropriate steps to plug the loopholes in the law to ensure these yachts are registered either with the central government or state government authorities so that they are not misused by ferry men or used for anti-national activities.
Slowly but surely pieces of the jigsaw puzzle of the conspiracy behind Mumbai terror attacks are falling into place.
The job of the police is to essentially provide security along the coast and it is the job of coast guard or navy to provide maritime security
The state government on September 21 held the referendum, the first of its kind in the country, in 22 villages in Raigad district to decide the fate of the Mumbai SEZ, promoted by Jai Corp headed by Anand Jain, who is a close associate of Reliance Industry chief Mukesh Ambani. However, Raigad district collector Nipun Vinayak is yet to finalise the report on the issue.
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.
Reliance Infrastructure's 4,000-MW power project at Shahpur in Raigad district is facing legal hurdles on environmental ground
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.
The Maharashtra government's decision to phase out the old ubiquitous black and yellow premier padmini taxis that are more than 25 year old in the country's financial capital has given automobile companies, which are facing declining sales due to the economic slowdown, a reason to smile.
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.
The pro-SEZ lobby is claiming that the benefits of dam are going to be minimal for these villages as the irrigation department has already committed water for various other purposes. However, the anti-SEZ activists are claiming that enough water is still available in the dam to irrigate the land in 22 villages.
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