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MUMBAI: Leading private equity (PE) funds such as Blackstone, Morgan Stanley, IDFC, and Singapore-based developer-investors Ascendas and Mapletree, among others, have put in bids for the Essar Group-backed Equinox Realty’s commercial project here. Equinox Realty was seeking a valuation of around Rs 2,000 crore, said sources in the know....
MUMBAI: In the wake of the Reserve Bank of India’s (RBI) rate reversal signal, the ongoing and impending reductions in banks’ base rate — the benchmark lending rate to which all loans are linked — may deplete lenders’ margins. Especially those of public sector lenders, which had aggressively raised deposit...
Indian scientists and engineers are now looking forward to Agni-VI, the next missile in the series that could well possess double the target range. Though Defence Research and Development Organisation (DRDO), which develops and manufactures missiles for the Indian armed forces, is yet to make an official statement on...
NEW DELHI: India did not formally inform China about the launch of its intermediate-range ballistic missile Agni-5 from the Odisha coast yesterday, although it did notify all the other big powers about the event. According to government officials, who spoke on condition of anonymity, China was the only permanent...
NEW DELHI: After the near-perfect debut of the Agni-5 long-range ballistic missile, which yesterday travelled 5,000 kilometres to accurately strike a target in the southern Indian Ocean, V K Saraswat, the Defence Research and Development Organisation chief, declared that the Agni programme would continue and there was no question...
NEW DELHI: Tatra Sipox (UK) Limited, supplier of Tatra trucks to the public sector BEML, is an agent of the manufacturer. This was admitted by Tatra Sipox on June 23, 1995, to the UK authorities to which it described its main activity as being the “manufacturers’ agents”. The fresh...
NEW DELHI: The launch of ‘Agni-V’ missile yesterday proves beyond doubt that India has the capability and competence to develop a long-range missile, DRDO chief VK Saraswat said today. Talking to the media, he said the DRDO would conduct two or more validation tests over the next 18 months,...
INS Teg, the first of the three new Talwar class guided missile frigates, being built by Russia for the Indian Navy, has completed sea phase acceptance trials. According to Yantar Shipyard, all that remained was to finish the interior premises and present operational documents to the crew. The frigate’s...
BEIJING:China’s strategic experts and the official media are trying to provoke western countries saying the Agni-V missile has a longer range than India would admit, and it can hit cities in Europe. In comments that are obviously authorized by the defence ministry, Chinese experts said the Indian missile actually...
BANGALORE: ISRO plans to launch its biggest ever spacecraft, the 5,000-kg GSAT-11, by 2014. The advanced communication satellite, GSAT-11, will be double the capacity and size of the present buses, and will be built over the next two years. GSAT-11 will have 32 transponders in the Ka and Ku...
India has completed a significant amount of work on next year’s planned Mars mission for which scientific payloads have been short-listed, with formal government approval for the ambitious venture expected soon. Bangalore-headquartered ISRO is planning to undertake the mission to the planet Mars during November 2013. The project report...
NEW DELHI: Intense lobbying by US multinational software firms notwithstanding, the government is unwilling to roll back its proposal to categorise the sale of software as royalty, as the double taxation avoidance agreement between India and the US allows India to tax the sale of software as royalty. Finance...
Chief economic advisor Kaushik Basu would not have imagined that his comments about the reform process in the country to the Washington-based Carnegie Foundation would trigger a political slugfest. In an e-mail interview with ET, he clarifies there is no policy paralysis in India, only a slowdown. Basu makes...
NEW DELHI: The government will allow builders to raise overseas debt only for projects where 90% of the units are for low or middle-income groups, according to a senior official in the ministry of housing and poverty alleviation. The official said these projects will, however, be permitted to have...
NEW DELHI: Forced by a Presidential directive, state-controlled Coal India Ltd (CIL) today initiated the process of signing fuel supply agreements (FSAs) with power companies. It issued model FSA documents to its subsidiary companies, for signing with electricity generators. The move would break a three-year hiatus on coal supply...
NEW DELHI: The finance ministry may dilute some provisions of the proposed General Anti-Avoidance Rule (GAAR) to allay investors’ fears about excessive powers to the taxman under the regime. The rules may be worded in a manner that the onus to prove tax avoidance is also on the tax...
By Harihar Swarup The President’s post is the highest office of the land. At the time of constitutional crisis or other emergencies, the President’s role becomes very crucial. Therefore a person of high integrity and moral standards, who commands the respect of the nation, should be elected to the...
By Nitya Chakraborty NEW DELHI: The data released by the International Monetary Fund (IMF) stating that during 2011, India overtook Japan in total GDP on the basis of purchasing power parity (PPP), thereby emerging as the third largest economy in the world after USA and China should act as...