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`Whistle blowers' scheme for private, foreign banks
It will be extended to other entities in due course

Additional avenues for banks for raising capital
MUMBAI: The Reserve Bank of India on Wednesday issued guidelines to banks for raising capital funds through the issue of innovative perpetual debt instruments (innovative instruments), debt capital instruments, perpetual non-cumulative preference ...

Dunlop board recast
KOLKATA: The Dunlop India board has been recast under the new owners with Pawan Kumar Ruia becoming the non-executive chairman. Ashok Jajodia will be the only whole-time director with four independent directors. This was stated on Wednesday by ...

PM seeks Saudi investment in infrastructure
NEW DELHI: Prime Minister Manmohan Singh on Wednesday sought massive investments from Saudi Arabian corporates in the infrastructure sector in this country, especially in the areas of power, telecom, airports and railways. Noting that India ...

Other Stories


Syndicate Bank raises term deposit rates
CHENNAI: Syndicate Bank has raised the domestic term deposit rates for various tenors by 25-50 basis points effective January 23. The rates are: 3.75 per cent for 7-14 days; 4.25 per cent for 15-45 days; five per cent for 46-90 days; 5.25 per ...

Surana ties up funds for Rs. 473 cr.
CHENNAI: Surana Industries has tentatively tied up the funds for its Rs. 473.27 crore integrated steel complex and the company has already completed its project of installation of 8 wind mills with a total cost of around Rs. 80 crore and a total ...

Torrent to split shares, issue bonus shares
MUMBAI: Torrent Pharmaceuticals said it would split the company's equity shares of Rs. 10 each into two equity shares of Rs. 5 each. The shareholders at the extraordinary general meeting held on Wednesday have also approved that after the split, ...

ABB pays Rs. 8 per share
BANGALORE: ABB has posted a net profit of Rs. 218.67 crore for the year ended December 31, 2005 against Rs. 154.31 crore in the corresponding period last fiscal. Total income increased to Rs. 3,014.13 crore from Rs. 2,305.57 crore. The board has ...

MRO-TEK declares interim
BANGALORE: MRO-TEK announced a net profit of Rs. 4.6 crore for the third quarter ended December 31, 2005 on total revenue of Rs. 37.91 crore against a net loss of Rs. 79 lakhs on revenues of Rs.27.59 crore in the corresponding period last year. ...

Sundaram Brake Linings pays 50 p.c. interim
CHENNAI: Sundaram Brake Linings has announced an interim dividend of 50 per cent (Rs. 5 per equity share) and has fixed the record date as February 2. The company has achieved net sales of Rs. 34.23 crore in the third quarter ended December 31, ...

Easun Reyrolle announces 15 p.c. interim
CHENNAI: Easun Reyrolle has declared an interim dividend of 15 per cent for the year 2005-06. Net sales have risen to Rs. 27.50 crore for the quarter ended December 31, 2005 from Rs. 13.21 crore in the corresponding period in 2004. The gross ...

PM's task force for petro investment
NEW DELHI: In a bid to attract foreign investments in the petroleum, chemicals and petrochemicals sectors, Prime Minister Manmohan Singh has set up a high level task force to speed up decision making and policy initiatives in these areas. It will ...

Nokia bags Rs. 240 cr. deal from Hutch
NEW DELHI: Nokia on Wednesday bagged a network management contract from Hutchison Essar for about Rs. 240 crore, a move that would allow the the cellular operator to focus more on its core activities. Nokia, as part of the contract, would take ...

Reliance open to foreign interest in IPO
DAVOS: Reliance Industries is open to foreign investors taking part in its subsidiary's $1.1-1.3 billion initial public offering, the group's chairman Mukesh Ambani told Reuters on the sidelines of the World Economic Forum on Wednesday. ...

HFCL Infotel to raise $150 m
MUMBAI: HFCL Infotel on Wednesday said it would raise $150 million by issuing equity shares or preference shares through Global Depository Receipts (GDRs) or convertible securities. The board of directors has approved the issue, subject to ...

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