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MUMBAI/AHMEDABAD/NEWDELHI: The Australian government’s move to impose 30 per cent tax on coal mining and iron ore profits might not affect any Indian investment in that country immediately, but could have an impact on Indian companies, including state-run mining major Coal India Limited (CIL), which are scouting for assets...
MUMBAI: The Securities and Exchange Board of India (Sebi) is not planning to make any changes to the recently-introduced offer for sale (OFS) or the auction route. There was a perception it may tweak norms after the bumpy share auction of Oil and Natural Gas Corporation (ONGC) earlier this...
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...