Business News

India's public sector undertakings have a combined value of $300-400 billion which means by disinvesting half of its stake in them, the government could raise roughly $200 billion, reason enough for it to embark on a more ambitious disinvestment programme, the 13th Finance Commission has said.

US hedge fund Galleon Group LLC — the US-based hedge fund that is winding down its funds after its founder, Raj Rajaratnam, was accused of heading an insider trading ring — has sold its stake in financial services group Edelweiss Capital Ltd for around Rs 255 crore.

Infrastructure development drives real-estate development in every city. Its benefits include public facilities, safety, accessibility and connectivity, all of which have the potential to boost mass housing schemes in new areas on the outskirts and prevent migration into already-overflowing metros.

Mukesh Ambani-led Reliance Industries (RIL) is planning to get into no-frills, low-cost housing. The proposal, though on the drawing board, could be kicked off by 2010  

With a view to align businesses and build operational synergy, media company Network18 said it would restructure operations of its flagship company TV18 India by merging broadcasting operations of two of its business news channels - CNBC TV 18 and CNBC Awaaz.

Former Reserve Bank of India deputy governor SS Tarapore has called for early non-disruptive monetary policy action as any delayed measures have to be harsher if the monetary authorities dither and the macroeconomic outlook and capital inflows are misjudged.

The steel and mines ministries are locked in a bitter turf war on amending the existing Mines and Minerals Development and Regulation (MMDR) Act.

There is a sudden surge in foreign institutional investor (FII) inflows through the participatory notes (P-notes) in the last two months.

Mobile users will pay at most Rs 19 to retain their old number each time they switch service provider.

To resolve the impasse over the implementation of its ambitious programme to educate all in the 6-14 age group over the next five years, the Centre has agreed to make concessions by picking up a larger part of the Rs 1,74,000 crore bill estimated by the ministry of human resource development.

Get ready to shell out Rs 20 lakh for the iconic Volkswagen Beetle that will hit Indian roads on December 4, courtesy a high import duty levied on the car.

Brazil's "bizarre" tax measures aimed at stemming the biggest currency rally and inflow of hot money into its capital market unnerved India's financial markets on Thursday.

Sugar cooperatives in the state might soon turn into powerhouses for rural areas if their recent proposal is accepted by the Gujarat Electricity Regulatory Commission (GERC).

As loss-hit Air India plans to rebrand itself, it may end up with a more business-like avatar of its mascot, the Maharaja — a royal in striped turban and red tunic.

Even as the Reserve Bank of India (RBI) is exiting its accommodative monetary policy, economist and policy doyen C Rangarajan says that soaring food price inflation could warrant a stricter stance from the central bank.

The takeover battle for Great Offshore is likely to intensify with both ABG Shipyard Ltd and Bharati Shipyard Ltd receiving regulatory approvals for their open offers for a stake in Great Offshore.

With 12 chairmen of state-owned banks leaving office in the next 15 months, the appointment committee might tweak one of the prime eligibility criteria for the post.

Sajjan Jindal-led JSW Steel and JFE Steel Corp of Japan are considering investing in each other as part of a strategic tie-up for making automotive steel for the Indian market.

Gold demand in the country fell 49 per cent in the July-September quarter when compared with the same period of last year as high prices and a poor monsoon impacted consumer spending and confidence.

Wind turbine major Suzlon Energy has sold 35.22 per cent of its stake in Belgian company Hansen Transmissions at a price of 95 pence per depository interest.