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NEW DELHI: The department of pharmaceuticals has decided to abandon its controversial “industry-friendly” proposal to cap retail prices of essential medicines at the average price of the three best-selling brands and stick with the cost of production as the parameter. “The thinking of the department, evolved after considering stakeholders’...
The boards of Satyam Computer Services Ltd and Tech Mahindra Ltd, IT services providers of the Mahindra group, approved the merger of two companies, according to TV reports. The exchange ratio for the merger was pegged at 2:17 ratio i.e. 2 shares of Tech Mahindra will be given for...
MUMBAI: The Insurance Regulatory and Development Authority (Irda) will soon decide on whether to allow Life Insurance Corporation of India (LIC) to retain its holding in public sector banks where it has breached the 10% limit. In the current quarter, LIC has invested over Rs 8,000 crore in state-run...
New Delhi: Eleven years since the Government launched the ethanol-blended petrol (EBP) programme, pricing remains the biggest spoiler. The programme, according to which five per cent ethanol had to be blended with petrol, in order to reduce pollution and boost agriculture sector, has also suffered from bureaucratic hurdles. “EBP still...
New Delhi/Mumbai: PTC India Ltd, one of the promoters of the Indian Energy Exchange (IEX), plans to sell part of its stake in the bourse, retaining a minority 5%, in line with regulations. As part of the exit plan, Renuka Ramnath’s Multiples Alternate Asset Management (MAAM) will buy PTC’s 14.5%...
Private firms running cargo facilities at Union government–controlled ports may have to wait until the end of this decade to migrate to an updated tariff regime, if the government accepts suggestions made last week by an expert body. This means these firms will have to contend with the apparent...
Impending US sanctions against vessels engaged in carrying cargo to and from Iran are beginning to pinch India, threatening more than one-tenth of its crude oil imports. India is finding it difficult to charter ships to carry Iranian crude oil because of the US bid to bar any ship...
By Harihar Swarup The biennial elections to the Rajya Sabha on March 30 for 58 seats will have significant impact on ensuring the stability of the UPA-2 Government till the holding of the next Lok Sabha elections in May 2014. Though the voting results in Rajya Sabha has no...
NEW DELHI: BIG CBS Networks, a joint venture of Reliance Broadcast Network and CBS Studios International, today said it has signed a distribution pact with direct-to- home company Dish TV for English general entertainment channel BIG CBS Prime. The move would expand reach of BIG CBS Prime to an...
NEW DELHI: Offshoring of jobs to India will begin to decline starting 2014, and will reach the end of its lifecycle in eight years, according to US-based strategic advisory and research firm The Hackett Group released at the Nasscom Global In-House Centers ( GIC) Conclave being held here. According...
This season, Bollywood is ready to take on the Indian Premier League googly. After seeing some kind of cricket fatigue, Bollywood lined up a string of big-budget releases, with close to Rs 200-250 crore riding on these. The first to release is Sajid Nadiadwala’s Housefull 2, a sequel to...
Lafarge, the world’s largest building materials company, is saddled with high debt and is going through a global restructuring. Its production has been hit in Europe amidst the euro zone crisis, resulting in layoffs and shutdowns. For its Global Chairman and CEO, Bruno Lafont, these are challenging times in...
At an investment size of Rs 20,995 crore, the country’s largest power producer, NTPC, would invest about 20 per cent less in 2012-13, compared to 2011-12, when it was estimated to spend around Rs 26,400 crore. The investment next year would be for adding new capacity of about 4,000...
Top Chinese officials said on Tuesday that working with India under the BRICS (Brazil, Russia, India, China and South Africa) umbrella would help address long-persisting mistrust between the neighbours, adding that they expected specific bilateral outcomes from President Hu Jintao’s visit to New Delhi next week for the fourth...
NEW DELHI: The International Monetary Fund is keen to implement quota reforms that will give more voting rights to economic powers like India and China, managing director Christine Lagarde has said. “Change is in the air,” Lagarde said at an event organized by IMF and the Indian Council for...
MUMBAI: The Insurance Regulatory and Development Authority (Irda) will soon decide on whether to allow Life Insurance Corporation of India (LIC) to retain its holding in public sector banks where it has breached the 10% limit. In the current quarter, LIC has invested over Rs 8,000 crore in state-run...
MUMBAI, March 20 (Reuters) – Indian shares posted their first winning session in four with lenders recovering as recent steep losses were overdone, but bigger gains were capped by auto stocks such as Tata Motors, which fell because of worries about lower sales. The National Stock Excahnge Bank index...
New Delhi: Strongly supporting media persons’ demand, Trinamool Congress chief and West Bengal Chief Minister Mamata Banerjee on Tuesday said her party MPs will soon meet Prime Minister Manmohan Singh to ensure that the demand for implementation of the wage boards is met. Addressing a large number of journalists...