Business News

Government served court notice on frequency allocation

The allocation of radio frequencies to telecom operators has come under judicial scrutiny once again. The Delhi High Court Wednesday sougght a response from the government on a petition that said the scarce resource should have been auctioned under a proper policy framework.8:32 PM on November 26

Ashok Leyland targets aerospace sector for testing services

Commercial vehicle major Ashok Leyland, part of the Hinduja Group, will target the Indian aerospace sector for testing various aircraft components, a senior group official said here Wednesday.8:32 PM on November 26

Steel Authority's long-term plans could be delayed

The state-owned Steel Authority of India's (SAIL) plans to take its capacity to 60 million tonnes a year by 2020 may get delayed, a top company official said here Wednesday.8:32 PM on November 26

Air India flights to Bangkok diverted

Air India flights to Bangkok were Wednesday diverted as Thai protesters stormed the Suvarnabhumi International Airport, disrupting flight movements, said an airline official here.8:30 PM on November 26

Cabinet to decide fuel price cut, as Deora gets notice for remarks

With state-run oil companies making profits on the sale of petrol and diesel, the petroleum ministry will seek a nod from the cabinet to revise prices, a top official said Wednesday, even as the Election Commission sought an explanation from Petroleum Minister Murli Deora for his remarks on price cuts a day earlier.8:02 PM on November 26

Government playing down current crisis, says industry lobby

The government is trying to play down the current economic crisis as there seems to be a gap between its perception and other knowledgeable observers' thinking on what would be India's economic growth rate this fiscal, an industry lobby said here Wednesday.8:02 PM on November 26

India defers decision on Dow Jones' move for facsimile editions

Finance Minister P. Chidambaram has deferred decision on a proposal from the US-based media giant Dow Jones to publish facsimile editions of newspapers in India while clearing 32 applications for foreign investment for an estimated inflow of Rs.8.45 billion ($170 million).8:00 PM on November 26

Guidelines for smaller exchanges in December

India's market regulator will to announce the guidelines and procedures in December for setting up of smaller exchanges that will cater to small and medium enterprises, it announced here Wednesday.6:32 PM on November 26

Nobody obeys Manmohan Singh: Jaswant

Attacking the Congress-led United Progressive Alliance (UPA) government for throwing the country into 'disarray', senior Bharatiya Janata Party (BJP) leader Jaswant Singh Wednesday said that 'nobody obeys Prime Minister Manmohan Singh'.6:31 PM on November 26

Cabinet to decide on fuel price cut: Official

With state-run oil marketing companies making profits on the sale of petrol and diesel, the petroleum ministry will seek a nod from the cabinet to revise fuel prices, a top official said Wednesday.6:31 PM on November 26

Ship recycling industry poised for boom in times of recession

The Ship-breaking industry in Gujarat foresees sunny days ahead, provided banks fund ship-breakers to acquire the large number of old ships that are being offered for demolition worldwide, a member of the industry said here.6:31 PM on November 26

India's Sensex ends above 9,000 on short covering

Short covering helped Indian equities markets to end in green Wednesday after two successive sessions of losses with a key index closing more than 331 points higher to breach the psychologically important 9,000 mark once again.5:30 PM on November 26

Buddha for 'cautious' land acquisition policy

West Bengal Chief Minister Buddhadeb Bhattacharjee Wednesday said the state had to take cautious step towards land acquisition.5:30 PM on November 26

Malnutrition downplaying India's economic growth: UN

India is progressing well in education and showing consistency in economic growth but its progress is getting downplayed due to poor child health conditions, a new UN report has said.5:03 PM on November 26

Another setback for delayed Kerala Smart City project

The already much delayed Rs.15 billion ($375 million) information technology park, the Smart City project, in the state's industrial hub Kochi, received a further jolt Wednesday when the Kerala government changed its stand once again on the project's Special Economic Zone (SEZ) status.5:02 PM on November 26