The finance ministry is arriving at a consensus to reject a proposal mooted in government to permit foreign direct investment (FDI) in multi-brand retailing.
ITC, which has a 14.98 per cent stake in EIH Ltd -- the company that runs the Oberoi chain of hotels -- is planning to subscribe to the upcoming EIH rights issue. This ends speculation that it might pull out after Reliance Industries Ltd picked up a stake in EIH.
The finance ministry has agreed to furnish sovereign guarantees on loans raised by National Aviation Company India Ltd, which flies under the Air India brand name. A top source in the ministry confirmed: "Yes, we will provide sovereign guarantee to Air India on its loans. After all, it is a company owned by the government."
PepsiCo India is planning to launch beverages and snacks priced below Rs 5. This is part of a drive to address the mass market looking for nutritional products. The new range, being developed in India, is expected to be launched on a pilot basis in select markets by next year.
In its communication to DoT, the DGA said the department had granted new unified access service licences to certain companies without proper verification of their eligibility and other credentials.
The move is significant as it would extend the power of CAG -- set up to audit central and state government departments as well as PSUs -- to private sector companies.
Just four years before, Coke factories consumed over four litres of water for every litre of beverage sold. Now, it is 2.5 litres, a reduction of 34 per cent.
Telecom operators who offer BlackBerry services are also ISPs. The feasibility of this solution, says DoT, will be explored after discussions with the Intelligence Bureau as well as the ISPs.
Huawei, the other big Chinese vendor, is yet to decide on the issue.
