US parent to retain 40% stake in Pfizer-Parke Davis combine
AMERICAN multinational Pfizer Inc will retain a 40 per cent stake in the combined entity to be formed with the proposed merger of Pfizer Ltd and Parke-Davis India. There are are no plans to either buyback shares, or, hike the parent company’s stake beyond 40 per cent, according to Pfizer Ltd managing director Hocine Sidi Said.

Ficci to lead business team to Pakistan
IN a significant move towards second track diplomacy, Federation of Indian Chambers of Commerce and Industry (Ficci) is leading a 37-member high-powered delegation to Pakistan to explore business opportunities in sectors like pharmaceuticals, automobiles, cosmetics, tea, coffee and chemicals.

Steel companies devise action plan to induce market growth
ALARMED by the forecast of a stagnant growth in the first half of the current fiscal, steel companies including SAIL, Tisco and Essar have outlined an action plan to induce market growth and create competitiveness in the sector.

Scrapping of amended PPA comes as boon to MSEB
THE Maharashtra Electricity Regulatory Commission’s (MERC) decision to scrap the amended power purchase agreement (PPA) for the Reliance Patalganga power project is a blessing in disguise for the Maharashtra State Electricity Board (MSEB).

Commerce ministry may allow offshore banking facility at SEZs
THE ministry of commerce may allow offshore banking facility at the newly-created special economic zones (SEZs) during its next policy announcement. This was hinted by Surat SEZ senior vice-president R Chandran while holding its first roadshow at the Gujarat Chamber of Commerce and Industry (GCCI) premises here.

India, China hold discussions on bilateral ties, cooperation
INDIA and China on Thursday held wide-ranging discussions to further consolidate bilateral ties and co-operation.

JM Lyngdoh to be new chief election commissioner
THE Centre on Thursday announced the appointment of election commissioner JM Lyngdoh as chief election commissioner (CEC) to succeed MS Gill, who will retire on June 13.

‘India should target Europe, Latin American nations’
WITH the slowdown in the US economy, India should now focus on Europe and Latin America to sustain the tempo of export growth, commerce minister Murasoli Maran said.