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Saturday, October 30, 2004
Centre may allow foreign banks to acquire private banks
MUMBAI, OCT. 29. The Central Government would re-introduce a bill to remove the 10 per cent cap on voting rights of shareholders of banks, said P. Chidambaram, Union Minister of Finance. He also said that the Government would allow level-playing ...
Inflation remains static
NEW DELHI, OCT. 29.Despite domestic oil prices remaining steady and monetary and fiscal measures in place, inflation remained static at 7.1 per cent for the week ended October 16 after a fall for four consecutive weeks. Analysts are concerned ...
ITC profit up 14 p.c.
KOLKATA, OCT. 29.Riding on increased cigarette sales and improved performance in other business sectors, ITC closed the second quarter with a post-tax profit of Rs. 485.70 crores against Rs. 427.80 crores in the comparable period, clocking a 13.5 ...
Tata Steel inks deal with L&T for Orissa port
MUMBAI, OCT. 29.Tata Steel today signed definitive agreements for a joint venture with Larsen & Toubro (L&T) for the Dhamra Port project in Orissa. The two companies are participating on a 50:50 basis in the joint venture, Dhamra Port ...
Consumer price index up
SHIMLA, OCT. 29. The Consumer Price Index for Industrial Workers (base 1982=100) recorded a marginal increase of one point during September to 523, Labour Bureau sources said. The index had remained static during September last year. However, the ...
NEW DELHI, OCT. 29.The fiscal deficit has come down by over 34 per cent to Rs. 53,235 crores in the first half of 2004-05 mainly due to Government's expenditure control measures and higher tax mop up. The revenue deficit was at Rs. 59,951 ...
Essar Shipping refinances ECB
MUMBAI, OCT. 29. Essar Shipping Ltd. (ESL) has prepaid Rs. 407 crore external commercial borrowings (ECB) to GE Commercial Finance of the U.S. seven years before the final maturity, by refinancing. As part of its efforts to reduce interest costs, ...
Costa Coffee's India plans
NEW DELHI, OCT. 29. Leading British cafe chain Costa Coffee, a part of the 1.8 billion pound sterling Whitbread plc, has entered into a joint venture with the RKJ group for opening 300 outlets in India over the next six years with an investment ...
Roots Multi Clean's investment plans
COIMBATORE: Roots Multi Clean Limited (RMCL), a part of the Coimbatore-based Roots group of companies, will invest about Rs. 10 crores on research and development during the next five years. According to a company release, it is also ...
New range of pumpsets launched
COIMBATORE: A new range of "JRF" series Texmo brand borewell submersible pumpsets was launched here recently. These are manufactured by the Coimbatore-based Aquasub Engineering and the salient features of these pumpsets include lower power ...
Karur Vysya Bank half-year net at Rs. 54 cr.
CHENNAI: Karur Vysya Bank has reported a net profit of Rs. 54.54 crores for the first six months ended September 30, 2004 against Rs. 75.86 crores. The dip in the net profit could be attributed to the fall in treasury income as dividend from ...
Standard Electricals' new launch
CHENNAI: Standard Electricals, part of the QRG group of companies, specialising in the manufacture of miniature circuit breakers (MCB), has recently introduced the fastest operating MCBs under the brand `Star' MCB. These MCBs clear short circuits ...
Siemens' research centre in Bangalore
CHENNAI: Siemens has inaugurated its new research centre, Siemens Corporate Technology India (CT India) in Bangalore. This is another step by Siemens towards strengthening its international presence in R&D and expanding in leading markets. ...
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