Govt to rope in RoC, regional heads for investor protection

To enhance investors’ awareness about the corporate sector, the ministry of corporate affairs would now involve its regional directors and the Registrar of Companies in the functioning of the Investor Education and Protection Fund.

Textile units for bar on cotton export until Mar

With domestic cotton prices rising and a high level of export contracts, the Confederation of Indian Textile Industry has renewed its demand for suspension of export.

US defence firms eye PM’s visit to tap Indian market

The US arms industry maybe looking at increased order from the Indian defence establishment after the PM’s visit to the US next week. Most suppliers, who are looking for business in India, are expected to attend the official dinner to be hosted by US President Barack Obama.

Aurobindo pharma eyes 23% profit next fiscal

Aurobindo Pharma hopes to become a $2-billion company in the next three years, according to chairman Ramprasad Reddy. The company that currently has profit margins of around 18%, expects to touch around 23% by next fiscal, backed by the new formulations manufacturing facility.

Kingfisher registers Rs 1.6k-cr loss; tops chart

The Vijay Mallya-owned Kingfisher Airlines led the chart of the loss-making carriers by reporting a massive Rs 1,602 crore in losses in 2008-09, followed by Jet Airways with a loss of Rs 1,032 crore.

Pests need to be monitored to save crops, says Icrisat

In the wake of huge crop losses of over $10 billion due to insect pests, the International Crops Research Institute for the Semi-Arid Tropics has called for a critical look into the “insecticide treadmill” to save crops and the environment.

Goldman Sachs head apologises for crisis

The head of Goldman Sachs, Lloyd Blankfein, has apologised for the role the financial services major played in pulling down Wall Street titans that rattled the entire world.

ONGC to start gas output from C-series off Mumbai coast by Dec

The exploration and production major Oil & Natural Gas Corporation would begin natural gas production from the C-series off the Mumbai coast from December.

e-voting for shareholders launched

Union minister for corporate affairs Salman Khurshid, on Tuesday inaugurated e-voting system for corporates launched by CDSL Ventures Ltd that would allow shareholders to cast their vote through internet.

Khurshid leaves CEO pay to board

With the issue of CEOs salary gaining popularity, corporate affairs minister Salman Khurshid said the ultimate decision of managerial remuneration should rest with the board and shareholders of the company.

SFIO to begin Satyam prosecution

The Centre on Monday said the Serious Fraud Investigation Office will begin prosecution into the Satyam scam this month.

No AI disinvestment, IPO for at least 5 yrs

Despite equity support from the government, the financial mess at Air India is unlikely to abate soon, as the cash-strapped carrier would not be able to bring in funds through disinvestment or an IPO for a period of at least five more years.

‘Put steel projects on fast track’

Steel minister Vir Bhadra Singh has called for expediting implementation of steel projects as the country has set a target of producing 124 million tonne of steel by 2011-12.

ATF prices increased by 2.4%

For the second time this month, state-owned oil firms on Sunday hiked jet fuel prices, this time by 2.4% following a spurt in the international oil rates. Aviation turbine fuel prices in Delhi will be increased by Rs 948 per kilolitre to Rs

GDP may cross 6% this fiscal, says CII

India’s economic growth is likely to exceed 6% in 2009-10 as demand is picking up across sectors and the economy is getting back on track, Confederation of Indian Industries said in a release.

Govt plans single platform for FDI rules, to do away with Press Notes

In an attempt to ensure better understanding of foreign direct investment related procedures amongst prospective investors, the department of industrial policy and promotion is exploring the possibility of doing away with Press....

VIRTUAL CACHE

Gold has limited statistical corelation with any of the assets classes as factors driving gold prices are different from factors driving other markets. Hence gold acts as an excellent portfolio diversifier.

“India unlikely to be an international hub”

“I would not be buying at the moment. And I am certainly not selling. However, if something happens, such as America invading Iran or who knows what, I guess I would then jump in and buy more too.”

HOLD YOUR GOLD

We can’t just seem to have enough of it! We are the world’s biggest gold consumer.

WE BUY GOLD

In the tumult of a highly fractious general election campaign in 1991, the then finance minister of India, Yashwant Sinha remembers having signed only one file—the scheme to pawn 67 tonnes of India’s gold reserves to pay for imports.

SFIO probe report on Company Law violation by Satyam likely in a week

The Serious Fraud Investigation Office, the investigation agency probing the Rs 7,800-crore Satyam fraud, is likely to submit its final report on aspects pertaining to the violation of the Company Law, in a week.

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