Online edition of India's National Newspaper
Tuesday, May 09, 2006
Online edition of India's National Newspaper Tuesday, May 09, 2006 |
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Companies allowed to place shares with QIBs A minimum of 10 p.c of securities should be allotted to MFs 
State level GST mootedStudy favours Central GST before 2010 Options before regional exchanges In the absence of a third platform, SMEs will have virtually no avenue for raising capital Pakistan may import tea through Wagah Also may import additional 1 lakh tonnes of sugar from India 
Citizen to expand retail outletsSigns up with Rahul Dravid Cheaper power tariff in West Bengal KOLKATA: Power for the industrial as well as the domestic sector became cheaper on Monday in West Bengal with the announcement of new rates for the current fiscal by the regulator, the West Bengal Electricity Regulatory Commission (WBERC). The ... Other Stories
Barometer Briefly VSNL to acquire Direct Internet MUMBAI: Videsh Sanchar Nigam Ltd. on Monday said it had signed a share purchase agreement to acquire Direct Internet Ltd. and its subsidiary for Rs. 75 crore. ... GAIL to set up LPG plants in Uzbekistan MUMBAI: GAIL India Ltd. on Monday said it would set up LPG plants in Uzbekistan. The LPG plants would be established along with UzbekNefteGaz (UNG) at an investment of $50-60 million ... RBI revises agency commission MUMBAI: The Reserve Bank of India on Monday revised the rate of agency commission on `other payments' in conduct of government business to nine paise per Rs. 100 turnover from Rs. 50 per transaction. ... SAT sets aside SEBI order on Time Capital MUMBAI: The Securities Appellate Tribunal (SAT), in a recent judgment, has set aside the decision of the Securities and Exchange Board of India against Time Capital for recovery of turnover fee and interest and has asked the market regulator to ... U.S. to release currency report WASHINGTON: The U.S. Treasury said on Monday it would release a semi-annual report on global currency policies on Wednesday, which many in Congress say should label China an exchange rate "manipulator.'' The twice-yearly report, Treasury ... SHCIL takes stake in G.K. Management COIMBATORE: SHCIL Services Limited, an associate company of Stock Holding Corporation, has invested in the equity of G.K. Management Services India Limited (GKM), a Coimbatore-based company in the sphere of finance and accounting back office ... HDFC Mutual Fund's new office COIMBATORE: A new office of HDFC Mutual Fund will be opened here on May 10 at 1371-A, Ground Floor, Nadar Building, Trichy Road. The Vice-President, Sales and Distribution (North and South), Vijai Mantri, will inaugurate the ... Glenmark's EMR pact with Aspen MUMBAI: Glenmark Pharmaceuticals of the U.S., the wholly-owned subsidiary of Glenmark Pharmaceuticals Ltd. [India] [Glenmark] (GPI) signed a supply and marketing agreement with Aspen of the U.S., [Aspen] for the joint manufacturing and marketing ... City Union Bank hikes FCNR deposit rates CHENNAI: City Union Bank has revised upward the interest rates on NRE deposits to 6.35 per cent for maturity periods of one year, two years and three years. It has also raised Foreign Currency Non-Resident (FCNR) rates to 5.33 per cent for U.S. ... TMB raises NRE, FCNR (B) deposit rates TUTICORIN: Tamilnad Mercantile Bank has raised the interest rate on NRE term deposits by five basis points for three years to 6.35 per cent. Interest rate on other maturity periods remains unchanged at 6.30 per cent. This change is applicable ... Award for Amco Batteries CEO CHENNAI: Jayshree Venkatraman, Chief Executive Officer, Amco Batteries and TAFE Power Source, has won the distinguished alumnus award from the International Management Institute (IMI). Jairam Ramesh, Minister of State for Commerce, presented ... Satyam ties up with NNIT HYDERABAD: Satyam Computer Services has entered into a strategic partnership with NNIT, a leading IT development consultancy of Denmark. The agreement will cover the implementation of new SAP solutions as well as support and development of ... Praxair signs on-site contract with SAIL CHENNAI: Praxair India has announced the award of a major contract from the Steel Authority ofIndia (SAIL) to build and operate an on-site industrial gas plant at SAIL's steel plant in Durgapur. Praxair will build, own and operate a ... Aerens Goldsouk expansion plans CHENNAI: Aerens Goldsouk International has announced its expansion plan for developing 100 gold souks in 100 cities in India and abroad in the next 100 months. According to a release, the souks will be opened in a phased manner. The company's ... Sasken to raise $50 m BANGALORE: Embedded telecom solutions firm Sasken Communication Technologies will raise $50 million through the issue of securities in the domestic or international markets to help fund acquisitions and other strategic initiatives. The proposal ... Valuemart reduces accumulated losses BANGALORE: Valuemart Info Technologies, a Bangalore-based IT and BPO company, has posted a turnover of Rs. 1.92 crore in the nine months ended March 31, 2006, as compared to Rs. 18.53 lakh in 2005 (15 months), registering a ten-fold increase. ... MAA Group's buyback plan BANGALORE: The MAA Group has opted to fully buy back the majority equity stake in Draft Worldwide India Pvt. Ltd, the Bangalore-headquartered direct marketing and direct response company, from Interpublic Group-owned Draft Inc. With this ... Fila buys Sai Lakshmi's unit BANGALORE: The Bangalore-based Indus Fila Limited, a company engaged in fabric weaving and apparel manufacturing, has acquired the fabric division of Sai Lakshmi Industries Private Limited based in Mysore, for a cash consideration of Rs. 90 ... Other Stories
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