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Economy News

  • Easier exits for foreign investors with shareholder pact rule tweak

    Subhash Narayan:  New Delhi, Jun 20, 2013 at 0253 hrs ISTThe government is set to allow incorporation of ‘call’ and ‘put’ options in shareholders’ agreement of companies in a bid to encourage inflow of foreign investment into the country, especially in infrastructure sectors, which have huge financing requirements.

  • Drug price ceiling to be revised with fresh data

    Jayati Ghose: New Delhi, Jun 20, 2013 at 0252 hrs ISTThe National Pharmaceutical Pricing Authority (NPPA) will change the ceiling prices of medicines — notified on Monday — which brought down average prices of painkillers, antibiotics and cardiac drugs by around 30%, after the authority concludes its data collection exercise.

  • Finance corporation for telecom cos takes shape

    fe Bureau: New Delhi, Jun 20, 2013 at 0258 hrs ISTTo give more funding access to cash-hit telecom firms, with a cumulative debt of R250,000 crore, and to raise rural penetration, the telecom department has finalised the fine print of the proposed Telecom Finance Corporation.

  • BIS issues alert on easy money policy

    Raj Kumar Ray: New Delhi, Jun 20, 2013 at 0257 hrs ISTAhead of central bankers’ meeting over the weekend, the Bank of International Settlement (BIS) has warned of prolonging easy money policies in major nations as it might lead to financial and price instability later.

  • Atul Singh elevated in Coca-Cola Pacific Group overhaul

    fe Bureau: Mumbai, Jun 20, 2013 at 0225 hrs ISTThe Coca-Cola Company on Wednesday announced key organisational changes in the Pacific Group, effective July 1.

  • EPFO eyes 3-day claim settlement

    Raj Kumar Ray: New Delhi, Jun 20, 2013 at 0255 hrs ISTIn a major overhaul of operations to lift its sagging image, EPFO has set yet another deadline of July 1 to settle all pending claims and may set a virtually impossible target to refund dues to subscribers within three days from all its centres across the country.
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  • Winsome Diamonds’ R4,000-cr account referred to CDR cell

    Aftab Ahmed:  Mumbai, Jun 20, 2013 at 0254 hrs ISTThe consortium of 15 lenders to Winsome Diamonds have referred the R4,000 crore account to the corporate debt restructuring (CDR) cell, according to bankers.

  • New way to compensate project-hit will hurt cos

    Prashant Mukherjee, Subhash Narayan:  New Delhi, Jun 20, 2013 at 0226 hrs ISTCoal miners will have to pay amount equal to royalty

  • Airtel slashes data usage charges by 90% in Punjab, Haryana

    Press Trust of India:  Jun 20, 2013 at 0227 hrsBharti Airtel has slashed data usage charges by 90% for prepaid subscribers in Punjab and Haryana, a day after Vodafone lowered data charges by 80% in three circles.

  • India Post’s bank plans meet hurdle

    Arun S:  New Delhi, Jun 19, 2013 at 0229 hrs ISTDept of fin services opposes proposal to apply for a banking licence citing lack of infra, experience

  • FIPB approves 16 projects worth R1,647 crore

    fe Bureau:  New Delhi, Jun 19, 2013 at 0232 hrs ISTThe Foreign Investment Promotion Board on Tuesday approved 16 projects envisaging foreign investment worth R1,647 crore while deferring Punj Lloyd's proposals for lack of security clearance.

  • Clean chit to selection process won’t revive GMR’s chances: Maldives govt

    fe Bureau:  Bangalore, Jun 19, 2013 at 0235 hrs ISTThe Maldives government on Tuesday said that its anti-corruption agency's clean chit to the selection process for Male's Ibrahim Nasir International Airport would not have any bearing on the termination of its concession agreement with GMR Infrastructure.

  • Media firms push for higher FDI cap as govt mulls review of limits

    Ashish Sinha:  New Delhi, Jun 19, 2013 at 0233 hrs ISTWith the government reviewing the current foreign direct investment norms and a possible hike in FDI caps across telecom, defence and other sectors, media companies too have joined the bandwagon making a case for increasing the FDI cap in news channels from 26% to 49%, and a further hike in the DTH FDI cap from 74% to 100%

  • IDFs, takeout finance key to infra growth, says FM

    fe Bureau:  New Delhi, Jun 19, 2013 at 0237 hrs ISTFinance minister P Chidambaram said on Tuesday that the expansion of financial products such as Infrastructure Debt Funds (IDFs) and takeout financing are crucial for the country to achieve 8 % growth as India attempts to kickstart its infrastructure sector and remove bottlenecks for stalled projects.