Bussines News

Mumbai, Feb 29 (IANS) The tourism and hospitality industry was disappointed with the national budget for 2008-09, saying it has ignored this booming sector completely.

New Delhi, Feb 29 (IANS) The 2008-09 budget presented by Finance Minister P. Chidambaram Friday evoked a mixed response from those concerned with women's development issues.

New Delhi, Feb 29 (IANS) As Congress leaders brought truckloads of farmers to party president Sonia Gandhi's home Friday to thank her for the loan waiver in this year's budget, politicians reacted along predictable lines - the Congress and coalition partners hailed it, while its Left allies and the opposition termed it populist and election-oriented.

New Delhi, Feb 29 (IANS) The national budget for 2008-09 did not address the problems faced by Indian exporters, who have been affected due to the rising rupee against the dollar, exporters said Friday.

Bhopal, Feb 29 (IANS) Welcoming the union budget for 2008-09, the Madhya Pradesh unit of the PHD Chamber of Commerce and Industry (PHDCCI) said it was a boon for all in general and the state in particular.

London, Feb 29 (IANS) Much of the Rs.600 billion set aside to waive the public sector loans of small and marginal farmers will end up lining the coffers of political parties unless immediate steps are taken to address corruption at the state level, distinguished economist Lord Meghnad Desai warned Friday.

Bangalore, Feb 29 (IANS) The booming IT industry in India's silicon hub was disappointed over the absence of tax holiday extension in the national budget for fiscal 2008-09.

Mumbai, Feb 27 (IANS) The board of directors of Bharat Forge Limited, the flagship company of the Kalyani group, Wednesday approved a preferential issue of convertible warrants to its promoters to raise Rs.3 billion.

Shimla, Feb 27 (IANS) Cosmos Hydro Power Ltd (CHPL) will build and operate for 40 years a Rs.1-billion ($25 million) hydroelectric plant in Himachal Pradesh, according to a memorandum of understanding (MoU) it signed with the state government.

Bangalore, Feb 25 (IANS) Leading Indian healthcare equipment maker Opto Circuits is acquiring Criticare Systems Inc, the US-based mid-size medical equipment firm, for $70 million (Rs.2.8 billion) in an all-cash deal.

Mumbai, Feb 20 (IANS) Anil Ambani-led Reliance Communications Ltd (RCL) Wednesday said it has integrated all its global initiatives under the umbrella brand of Reliance Globalcom.

New Delhi/Mumbai, Feb 17 (IANS) Barely a week after listing on stock exchanges, Reliance Power Sunday said it would consider a free bonus issue to shareholders Feb 24 to compensate them for the lower listed price of shares on debut.

New Delhi/Mumbai, Feb 17 (IANS) Barely a week after listing on stock exchanges, Reliance Power Sunday said it would consider a bonus issue to shareholders Feb 24 to address investor complaints of overpricing of its maiden issue.

New Delhi, Feb 13 (IANS) Mukesh Ambani-led Reliance Industries Ltd (RIL) has made its first gas discovery in a deep sea exploratory block off the Krishna River basin on the east coast, the company said Wednesday.

Chennai, Feb 13 (IANS) The Rs.3.5 billion Fenner India Ltd is joining hands with an European company to make engine mounts and vibration dampers in India, which is expected to fuel the company's growth.

Mumbai, Feb 13 (IANS) The Tata Group Wednesday brought all its telephony services and brands into one holding company, Tata Communications Ltd (TCL).

Mumbai, 4 Feb (IANS) The State Bank of Patiala (SBP) and financial rating agency Credit Analysis and Research Ltd (CARE) have signed a memorandum of understanding (MoU) to rate bank loans according to Reserve Bank of India's (RBI) norms.

Mumbai, Feb 4 (IANS) Tata Motors Ltd was satisfied with the progress of negotiations with US carmaker Ford Motor Co to buy British marquee brands Jaguar and Land Rover and would soon reach an agreement, the company said here Monday.

New Delhi, Jan 25 (IANS) State-owned Bharat Heavy Electricals Ltd (BHEL) has posted net profit of Rs.7.7 billion ($195 million) for the third quarter (October-December), showing a 15.6 percent rise over the same period of last fiscal, the company said Friday.

New Delhi, Jan 24 (IANS) For the first time, state-owned power equipment maker Bharat Heavy Electricals Ltd (BHEL) will set up a Rs.24.75-billion ($627 million), 600-MW thermal power unit in Tamil Nadu, the company said.