Wednesday, August 12, 2009

NEWS @ 12-08-2009

Here's a look at some alleged financial frauds that have been prosecuted over the years, beginning with the man for whom such transgressions are named, Charles Ponzi ...

New direct taxes code released

The government on Wednesday released a brand new direct taxes code that will replace the 1961 Income Tax and other direct tax laws, saying it will provide a simple tax structure for better compliance ...

India's industrial output rose by a much faster-than-expected 7.8 per cent in June from a year earlier, data showed on Wednesday, driven by higher demand for consumer goods and increased mining activity.

Goldman Sachs expects economic gains from industrial activity to mitigate the negative impact of poor rains, it said in a note after government data showed June factory output surged to a 16-month high ...


Infrastructure delays ‘to cost India $200bn a year’

Delays in implementing ambitious infrastructure development plans threaten to slice $200bn off India’s potential national output a year and cost the economy as many as 35m jobs over the next eight years ...

Bad Monsoons and impact on Banks

Demand for agriculture credit has been relatively slow this fiscal. The main demand for agriculture loans from farmers generally precede the monsoon season ...

Weak Rains May Drain FMCG Revival

With the rural segment accounting for 60 per cent of sales for fast moving consumer goods (FMCG) companies and 40-50 per cent for consumer durables manufacturers, the government’s admission ...

Retail food prices have surged by up to 32 per cent after the South West Monsoon hit India in the last week of May, with poor rain compounding the problem, adding to consumer worries ...

India’s exports stayed downhill for the tenth month in a row, as estimates for July showed a decline of 26.2 per cent to $13.6 billion due to a slump in global demand ...

State-run Power Grid and NHPC Ltd have sought government approval to offload their entire stake in power trader PTC India, senior officials ...

Reliance Industries Ltd (RIL) on Monday filed a caveat before the Supreme Court in a gas dispute case involving public sector power major NTPC. Through the caveat, the company is seeking to be heard ...

RIL is likely to sell tomorrow a Gas deal contract with Indraprastha Gas that would use the supplies from RIL's eastern offshore gas fields for vending CNG for automobiles ...

The part of the Ambani family MoU that divides the gas found by RIL between brothers Mukesh and Anil group firms is against public interest, flouts government authority and will set a wrong precedent ...

ADAG has accused the petroleum ministry of “misleading” the Prime Minister’s Office (PMO) by claiming that RIL is required to sell natural gas as per the Gas Utilisation Policy of the government ...

A consortium of GMR and NAPC has bagged the Rs 1,100-crore order for the first phase of Outer Ring Road in Chennai. According to sources, the consortium will design, build, finance, operate and transfer ...

Steel companies’ results failed to shine in the quarter ended June, despite a decent 5 per cent rise in domestic sales, a 10-15 per cent rise in steel prices from the recent lows and around 30-50 per cent decline in costs ...


Tata Motors-owned Jaguar Land Rover’s funding troubles seem to have come to an end in the UK, with the company close to securing the £340-million loan from the European ...

Mphasis Set To Acquire AIG's India Unit
IT and BPO services provider MphasiS today said it is set to acquire AIG Systems Solutions (AIGSS), part of the troubled insurance giant American International Group Inc, for an undisclosed amount ...


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