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New FDI norms for 'Indian' firms likely: FIPB may be asked to vet downstream projects.
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Tata-Corus basher loses election: Tata Steel can find reason to cheer this weekend from the results of the elections in the United Kingdom; more precisely from the north east corner of the country where Corus has a steel plant.
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Al-Fayed sells Harrods for pound 1.5 bn: Harrods, the iconic London store, has been sold by Mohammed Al-Fayed to Qatars royal family for pound 1.5 billion. Al-Fayed, 77, had bought Harrods in 1985 for pound 615 million. According to media reports here, he will go into retirement once the sale is completed.
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New 2G norms to make Govt richer by rs 11,200 cr: Operators Bharat Sanchar Nigam Ltd, Bharti Airtel, Vodafone-Essar, Aircel, Mahanagar Telephone Nigam Ltd and Idea Cellular might have to fork out over Rs 11,200 crore for having spectrum beyond 6.2 MHz, if the government accepts the Telecom Regulatory Authority of India (Trai) recommendations.
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Euro bailout brings cheer to markets: The almost-$1 trillion euro zone bailout package has washed away, for now, all worries over the return of yet another bear phase in the markets, world over. And, the consensus among market players is that the rally should continue.
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Vedanta to buy UK firm's zinc assets for $1.3 bn: London-based minerals and metals major Vedanta Resources today announced it would buy UK-based Anglo American Plcs zinc business for $1.34 billion (Rs 6,011 crore) in an all-cash deal.
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Operators to pay more for 2G: New Trai formula plans to replace subscriber-based allocation for spectrum.
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Modi confident to face BCCI bouncers: Monday is going to be a hectic day for Lalit Modi, the suspended chairman and commissioner of the Indian Premier League, as he would have to reply to several charges levelled against him by the Board of Control for Cricket in India (BCCI).
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Cell-shocked: Telecom stocks on crash course: Leading mobile phone operators came down hard on the telecom regulator on a day when most saw their stocks on a crash course.
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Company law forum hits SC wall: The creation of a National Company Law Tribunal may be further delayed, as a five-judge Constitution bench of the Supreme Court today held several provisions of the Company Law Amendment Act of 2002 as unconstitutional.
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Govt revives talks on workers in boards: The United Progressive Alliance (UPA) government has initiated a move to revive a 20-year-old controversial bill which seeks to give representation to workers on company boards.
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Sebi challenges SAT order on Takeover Code: The Securities and Exchange Board of India (Sebi) today moved the Supreme Court challenging the decision of the Securities Appellate Tribunal (SAT) that held that financial investors like PEs and VCs do not acquire controlling stake in a company by just picking up more equity.
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Supreme Court says no to cheaper gas for RNRL: Asks brothers to renegotiate the agreement within six weeks.
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Kasab gets death for 26/11: A special court in Mumbai today sentenced to death Pakistani national Mohammad Ajmal Kasab for the November 26, 2008, terror attacks on the city.
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Markets test lowest levels in more than two months: A sharp fall in the overnight US markets and fresh concerns related to the European credit crisis played havoc on Friday, as both the Indian benchmark indices fell to their lowest levels in more than two months. The Indian indices lost nearly 5 per cent in the last five trading sessions, making the week one of the worst in more than six months.
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K-G gas fully sold for five years: The Ambani brothers may soon begin to renegotiate the gas supply agreement between them, but it may not result in much for Anil Ambanis Reliance Natural Resources Ltd (RNRL). The government has already allotted up to 90 million standard cubic metres a day (mscmd) of gas from the D6 field in the Krishna-Godavari basin of Reliance Industries Ltd (RIL) for a period of five years, which leaves hardly any gas for RNRL.
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Beetle mania: The bug bites Indian deep pockets, price no bar: The iconic Volkswagen Beetle has caught the imagination of well-heeled Indians who do not mind forking out a fortune to buy the bug. After all, it has a steep price tag of Rs 20.45 lakh (ex-showroom, Delhi). One could buy a Merc or the sporty BMW by throwing in few more lakhs.
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Analjit Singh in talks with foreign varsities to set up medical college: Max India founder and chairman Analjit Singh is in talks with four foreign universities to set up a medical college in the country.
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SC has protected the interest of RNRL stakeholders: Anil: The Chairman of Reliance Anil Dhirubhai Ambani Group (ADAG), Anil Ambani, today said he was looking forward to an expeditious and successful renegotiation with RIL within six weeks to secure gas for the groups power plant.
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Aegis puts on hold India listing; plans to buy 3 firms instead: Aegis Limited, the business process outsourcing (BPO) arm of the Essar Group, has put on hold its plans to list on the Indian bourses. Instead, the company is planning to acquire at least three companies two overseas and one in India.
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