Broad consensus is emerging within a Group of Ministers chaired by finance and external affairs minister Pranab Mukherjee on a proposal seeking comprehensive changes in the foreign direct investment policy. This includes scrapping automatic approval in sectors that have FDI limits and in which ownership or control is shifting to a foreign company, and a new definition for calculating indirect foreign equity.
And despite a slowdown, media planners say advertisers are pouring in over Rs 600 crore (nearly half the ad budget for cricket in 2009). This represents a more than 10 per cent increase over last year's spends on television, co-branding of teams and marketing, among others.
The Maharashtra government fears that the agitation against Dow Chemical's proposed Research and Development centre was orchestrated by its aggressive neighbour to influence Dow to take its $400-million project to that particular state.
Proof of disgraced Satyam founder Ramalinga Raju's political influence--an issue that is being widely discussed following his January 7 confessions of fraud--was strongly in evidence as far back as 2002, when his company was at the height of its success.
It's official now. Engineering giant Larsen & Toubro has sought management control of Satyam.
As companies find themselves in the midst of an unprecedented meltdown, the role and expectations from CEOs are changing, according to Spencer Stuart, one of the largest global recruitment agencies for senior directors and CEOs. It has made these findings from recruitments undertaken in India across sectors like financial services, telecommunications and FMCG, amongst others.
It has rejected a proposal by Subash Chandra-promoted Wire and Wireless India, which has sought permission to issue partly paid-up equity shares, pursuant to its rights issue. WWIL is in the cable network business. The shares were to be issued to non-residents, which also included FIIs, venture capital funds, multilateral and bilateral development financial institutions, and eligible NRIs for cash aggregating up to Rs 450 crore (Rs 4.5 billion).
The prices are used to charge stamp duty and are calculated on the basis on trends in the property market. They are published by the state government on January 1 every year. This year, for the first time in eight years, the state government did not propose any change in the rates taking into consideration the downward trend in property prices.
The dispute involves a UK-based hedge fund, Altima Partners, and the company's principal promoter Raghav Bahl, founder and largest shareholder of Network18, the broadcasting group which runs TV channels such as CNBC-TV18, Colors and Awaaz.
The Mumbai police, along with a group of enthusiastic citizens including Mumbai Sheriff Indu Shani, combed commercial complexes, malls, office buildings and residential premises in south and south-central Mumbai to identify and get rid of unsecured Wi-Fi connections in the city, following terrorist attacks last year.Terror mails were sent via unsecured Wi-Fi connections before the Delhi and Ahmedabad serial blasts also.
Auctions for spectrum for 3G or third-generation telecom services could be delayed from an already rescheduled date of January 30 after the Department of Telecommunications sought legal opinion on whether it should send the finance ministry's suggestion on doubling the reserve price back to the Telecom Regulatory Authority of India for its endorsement.
Will scrap bid if it falls below government's revenue expectations.
Reflecting the sombre mood in the real estate sector, the Maharashtra government, for the first time in eight years, has not changed the indicative prices of properties in the ready reckoner, which is used by the government to charge stamp duty on property transactions.
The property rates in the ready reckoner for Mahrashtra may drop marginally reflecting the subdued sentiments, sources said. A final decision may be taken on Wednesday. The property ready reckoner is prepared by the office of the inspector general of registration and stamp duties on the basis of transactions in real estate sector in respective areas.
With the Lok Sabha elections around the corner, the Maharashtra government is set to announce another farm loan waiver package to cover all those who were excluded by the central government's waiver package.
Bajaj family members are in the final stages of reaching a peace formula to their six-year-old dispute over the division of group companies and assets. Sources familiar with the developments said an announcement can be expected in the next 10 days, but did not want to divulge details.
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.
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