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MUMBAI: Foreign investors, drivers of domestic stocks, have increased their bearish bets by buying Nifty put options, raising fears of a further decline in markets despite the government having postponed a controversial set of tax laws, which has spooked them, by a year. The government announcement that general anti-avoidance...
The Indian Air Force has floated a brand new requirement to support the acquisition of nine special mission aircraft for airborne Signals Intelligence (SIGINT), Communications Jamming (COMJAM), ground survey and target towing. According to the request for information sent out to global vendors, two of the nine aircraft should...
NEW DELHI: Power developers such as Reliance Power, NTPC, and India Bulls have got support from the most unexpected quarter — the Coal Ministry. The Ministry has supported the developers’ call for review of the new fuel supply agreement (FSA) of Coal India Ltd. The producers termed the new...
NEW DELHI: Power companies that have not signed the fuel supply pact with CoalIndiacontesting its minimum penalty clause are meeting the Central Electricity Authority tomorrow to find a resolution to the issue. CEA, the power sector planning body, has convened a meeting of power utilities who have not signed...
NEW DELHI: June may turn out to be the luckiest month for government oil marketing companies for the third year in a row. Like the last two years, this June is also expected to see a round of price hikes in controlled fuel products. Price hikes of controlled petroleum...
MUMBAI: Ahmedabad-based Zydus Cadila is in early stages of talks to acquire Bangalore-based Strides Arcolab’s Rs 70-crore domestic generic business, said two people familiar with the matter. Strides’ domestic generic business, which has a range of antibiotic and nutraceutical products, will help Zydus get a wider market access in...
NEW DELHI: In a surprise move, the government on Tuesday decided to withdraw its review petition seeking clarity on the Supreme Court ruling which called for allocating all natural resources through auctions. The court had made this directive as part of its February 2 verdict, that cancelled 122 tainted...
NEW DELHI: The halted PSU sell-off programme is set to resume. The Cabinet Committee on Economic Affairs (CCEA) is likely to take up a clutch of disinvestment proposals on Thursday, including follow-on offers (FPOs) of Steel Authority of India (SAIL), Hindustan Copper, Nalco and Neyveli Lignite Corporation, official sources...
NEW DELHI: The United Progressive Alliance’s chief crisis manager Pranab Mukherjee made a compassionate plea to all political parties and states to urgently bite the bullet on fuel subsidies and urged the Opposition to help with the passage of some crucial economic laws. He also tinkered with the indirect...
HYDERABAD: Despite growth and inflation balance shifting favourably, the Reserve Bank of India (RBI) foresees inflationary pressures in the medium and long term. In the present economic environment, there is little room for lowering interest rates, said RBI deputy governor Subir Gokarn. “The central bank has started the process...
NEW DELHI: Two months ago, with fiscal consolidation on his mind, Finance Minister Pranab Mukherjee scratched out export subsidies from his budget. Today, worried by a widening gap between imports and exports, the government is thinking of bringing back sops for exporters. These subsidies are likely to include discounted...
From Ashis Biswas KOLKATA: For a Chief Minister who always reminds the world of the financial problems of West Bengal, Ms Mamata Banerjee’s priorities in official spending are intriguing, to say the least. Thanks to the populist ways of the erstwhile Left front Government ,which bequeathed a bloated, overpaid,...
By Rashmi Saksena We in India proudly parrot the ‘unity in diversity’ line ever so often. Nothing puts it to shame more than the shocking way the young from the north east region are treated in our mega cities. The jury is still out in the April case of...
By Narendra Sharma NEW DELHI: For the labour movement in India, May Day, this year had a memorable ring of the International Day of Labour as trade unions in all Continents, cutting across affiliations, supported the Indian workers’ united struggle against the UPA Government’s anti-Labour and corporate-centric employment and...
MUMBAI: The finance ministry today decided to halve the tax on long-term capital gains for private equity (PE) investors to 10 per cent to help revive slowing inflow of foreign funds. The government will also exempt long-term capital gains on the sale of unlisted securities in initial public offerings (IPOs)...
NEW DELHI: Call it the ‘Coalgate’ effect. Coal minister Sriprakash Jaiswal has sought an extension for coal secretary Alok Perti, citing the need to maintain “continuity”. Perti, a 1977-batch IAS officer ofAssamcadre, is scheduled to retire on May 31. Top government officials said the minister has argued that Perti...
NEW DELHI: Power sector planning body CEA has sought PMO intervention on fuel supply agreement as several companies have refused to sign pact with CIL amid differences over penalty to be paid by the coal firm if it fails to supply 80 per cent of the contracted fuel to...
NEW DELHI: Mounting mistrust between the oil ministry and Reliance Industries has cast a cloud on the future of the prized D6 block as the government continues to maintain a stern posture toward the company while RIL struggles to justify further expenditure on the deep-sea block it operates. Matters...