INDIA BUSINESS WORLD - INDIA BUSINESS WORLD - OCTOBER 1st - OCTOBER 15th - 2008
THE MONTH THAT WAS...
News & important developments from the most prospective of the New World markets. India. Our effort is to provide you with the latest and relevant developments that take place in the Indian business, economic and legal environment.
BUSINESS NEWS
STERLITE BAGS RS 24-CRORE PROJECT FROM BSNL :Sterlite Technologies has said that it has received a Rs 24-crore order from state-run telecom major Bharat Sanchar Nigam Ltd (BSNL) for supplying........More....
LIC RAISES STAKE IN COS DESPITE IRDA CAP : DOMESTIC insurance giant Life Insurance Corporation (LIC) has raised its stake beyond 10% in a few blue-chip companies even after the Insurance Regulatory and Development Authority........ More....
BANKS TURN WARY, FREEZE SHORT-TERM LOANS TO COS : AMID an unprecedented liquidity squeeze, large banks, including the country’s biggest lender ...........More....
NATIONAL PHARMACEUTICAL PRICING AUTHORITY (NPPA) REVISES PRICES OF 149 MEDICINES : DRUG price regulator National Pharmaceutical Pricing Authority (NPPA) has revised the prices of 149 medicines, including monocomponent insulins, dettol antiseptic and aspirin with combinations....... More....
ZAMBIA POWER PROJECT RECEIVES RS 235-CR EXIM BANK SOFT LOAN : The Exim Bank of India has cleared a Rs 235-crore ($50 million) concessional loan to Zambia for a Rs 1,000-crore ($230 million) power project for which Tata Africa Holdings has been selected as the private sector partner........More....
CENTRE WEIGHS 100% FDI IN COMMODITY BROKING BIZ : CENTRE WEIGHS 100% FDI IN COMMODITY BROKING BIZ......... More....
TATA SONS SELLS 1% IN TCS FOR RS 701 CR : TATA Sons, the Tata Group’s holding company, sold 1% stake in India’s largest software exporter, Tata Consultancy Services, last week for Rs 701 crore. A banker said Tata Sons........ More....
RANBAXY GETS RELIEF IN US AUDIT CASE : The US Department of Justice (DoJ) has withdrawn its motion in a local court against Ranbaxy for accessing audit documents sought by US authorities......... More....
JVS, SPVS FOR COAL EXTRACTION TO ESCAPE VAT, SALES TAX : JOINT ventures (JVs) or special purpose vehicles (SPVs) floated to extract coal from single captive block allocated to more than one entity will not be levied any sales tax and VAT for selling coal from the JV.......... More....
CORE GROWTH OF INFRASTRUCTURE INDUSTRIES TUMBLES TO 2.3% IN AUG : CORE infrastructure industries logged a sluggish growth of 2.3% in August 2008 compared to 9.5% in the corresponding month of the previous year. Electricity generation was the worst performer among the six sectors, according to government data........ More....
TAX AUTHORITIES BOUND TO ACCEPT COS’ AUDITED ACCOUNTS, SAYS SUPREME COURT : THE Income-tax department is bound to accept the authenticity of the accounts certified by the auditor and maintained in accordance with the provisions of the Companies Act, the Supreme Court has ruled.......... More....
US BANKS GET $250 B BY BUYING SHARES IN THOUSANDS OF BANKS AND FINANCIAL FIRMS : AMERICA has dramatically changed its plans to make the financial crisis less painful. Instead of buying sticky mortgage assets for which there are no takers, the US government will spend $250 billion to buy shares in thousands of banks and financial firms........ More....
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