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Textron Defense Systems will start production of India’s order for 512 CBU-105 sensor fuzed weapons (SFW) soon. The $257.7 million sale was contracted via the U.S. Foreign Military Sales mechanism in November 2010. Encouraged by India’s continuing move away from reliance on Russian weapons, Textron is now marketing other...
NEW DELHI: After the successful launch of Agni V Inter-Continental Ballistic Missile, India is all set to develop reusable rockets which will combine the technologies of both ballistic and cruise missiles. As part of plans to develop reusable ballistic missiles, the Defence Research and Development Organization (DRDO) will test...
NEW DELHI: The Analjit Singh-promoted company Max India has decided to divest its 25-year-old polypropylene business in a two-stage transaction for an enterprise value of about Rs 800 crore, a move that will help it exit its non-core business. The Delhi-based company is in advanced negotiations with at least...
NEW DELHI: With the rising role of private sector in defence production, the government is planning guidelines for defence sector joint ventures (JVs) between Indian and foreign firms. Government sources said these will be similar to foreign direct investment (FDI) norms for defence collaborations in certain developed countries. The...
WASHINGTON: After the flak over his remarks to a think tank here, Chief Economic Advisor Kaushik Basu feels India will see “some important” reforms in the next six months, including on subsidies and maybe partial diesel decontrol and FDI (foreign direct investment) in retail. However, he feels the “biggest...
NEW DELHI/MUMBAI: The finance ministry has asked the Reserve Bank to open a $10-billion window for individual foreign investors in corporate debt, hoping high yields on Indian paper will attract greater flows and prevent large government borrowing from pushing up interest rates. This year’s budget has proposed to allow...
NEW DELHI/MUMBAI: The finance ministry is set to halve the tax burden to keep alive the interest of private equity (PE) players, who constitute the biggest foreign direct investor group in India. The ministry is prepared to lower long-term capital gains tax on unlisted stocks to 10% for PEs,...
NEW DELHI: It could be a second innings for special economic zones, especially those held up for years, with the commerce department proposing fresh tax concessions and a cut in the minimum area requirement to a quarter of the present specifications. The department has suggested that any zone that...
By B.K. Chum in Chandigarh As Himachal Pradesh Assembly elections is gearing up for 2012 end – the hill state is becoming a land of controversies. The latest include the dispute between the Army and the State government over the possession of Annandale ground and the opposition to the...
By Anil Gulati BHOPAL: A child from Balaghat district of Madhya Pradesh sketches a painting of a couple being married yet crying !. In the sketch painted by the child these are not adults but children who are getting married. Child sketches the reason they are crying as they...
By Garga Chatterjee For academic discourse, two things that are of utmost importance are quality and iconoclasm. Both are easier stated than implemented. We need iconoclasm in the world of knowledge to both expand and question our conceptions of the world. Ideas, especially those on which the reputation of...
NEW DELHI: The Petroleum Ministry has been asked to do some soul-searching. It has been told to prepare a white paper to improve the investment climate under the oil and gas auction rounds. The fading interest of big players and constant rescue acts by ONGC and other public sector...
KOLKATA/GUWAHATI: Brahmaputra Cracker and Polymer Ltd (BCPL), popularly known as the Assam Gas Cracker Project, “is likely to be completed by December 2013”, said Prime Minister Manmohan Singh here on Friday. He said that the Gas Cracker Project, which was originally scheduled to be completed by April 2012, “is...
NEW DELHI: Over 40,000 petrol pump dealers have decided not to go on a nation-wide strike from Monday after oil minister Jaipal Reddy agreed to accept their demands late on Friday evening, association general secretary Ajay Bansal said. “Most of the demands are being addressed by oil minister including...
NEW DELHI: Nagarjuna Oil Corp (NOCL) has signed a fuel sales deal with the country’s biggest refiner Indian Oil Corp, a move which could reduce import dependence for meeting refined products demand in the southern part of the South Asian nation. India has surplus refining capacity but its private...
CHENNAI: The Nagarjuna Oil Corporation’s refinery at Cuddalore is likely to be commissioned by early 2013. This is a delay of almost six-nine months due to the damage caused by cyclone Thane, which hit Cuddalore last year. The loss due to the cyclone was only around Rs 60 crore...
NEW DELHI: Reliance Industries will start surveying the entire D6 block after a week as it has secured all approvals to begin the process that will facilitate quick development of all untapped discoveries in the region and reverse the declining natural gas output from the deep-sea region, industry officials...
MUMBAI: Reliance Industries on Friday reported a 21 per cent fall in its net profit to Rs 4,236 crore in the quarter ending March 2012, as compared to Rs 5,376 crore in the same quarter a year earlier, even as it sprung a surprise with higher than expected gross...