India Business News

Wed, 23 Jul 2008
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UnitedLex to raise $6 mn from venture funds for expansion

The US-based legal outsourcing firm UnitedLex, which is planning a major expansion in India, announced Wednesday that it will raise $6 million from global venture capital majors Canaan Partners and Helion Venture Partners.

Tue, 22 Jul 2008
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Equity markets end in green hours before trust vote

Indian equity markets ended the day Tuesday with a slight gain, hours before the crucial trust vote in parliament that will decide the fate of the Manmohan Singh government.

Wed, 23 Jul 2008
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UB Group launches India's first multi-grain vodka

United Spirits Ltd (USL), part of Vijay Mallya's UB Group, launched Romanov Red, India's first multi-grain and multi-distilled vodka, here Wednesday.

Mon, 21 Jul 2008
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Reddy group to source iron ore from Indonesia mines

Mining and steel major Gala Janardhan Reddy (GJR) group has entered into a strategic alliance with PT Earthstone Resources of Indonesia to source iron ore from Sumatra mines for its greenfield integrated steel plant in Andhra Pradesh and export markets, said a top official here Monday.

Tue, 22 Jul 2008
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India Inc relieved as government wins trust vote

India Inc heaved a sigh of relief Tuesday after the United Progressive Alliance (UPA) government won the trust motion, hoping economic reforms would now get a push as pressures from Left parties would no longer carry the same weight.

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Delhi clears seven projects worth Rs.3.47 bn

The delhi government Tuesday cleared seven energy and infrastructure development projects worth Rs.3.47 billion ($82.6 million).

Wed, 23 Jul 2008
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Netmagic unveils its largest data centre in India

Leading managed IT service provider Netmagic Solutions Ltd has unveiled its largest data centre in Mumbai to enable Indian and global enterprises deliver a host of applications and solutions to their customers from multiple locations.

Tue, 22 Jul 2008
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Telecom regulator issues show cause notice to ESPN

India's telecom watchdog Telecom Authority of India (TRAI) Tuesday issued a show cause notice to sports broadcaster ESPN for allegedly violating norms when offering its bouquet of channels to direct-to-home (DTH) operators, a TRAI statement said.

Wed, 23 Jul 2008
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Hong Kong company to generate power in Haryana

China Light and Power, a 107-year-old Hong Kong-based company, Wednesday tied up with the Haryana government - becoming the first independent power producer (IPP) in the state - to set up a coal-based power plant.

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Reliance gas dispute case to be heard daily

The Bombay High Court will hear on daily basis the dispute over gas supplies from the Krishna-Godavari basin between the Anil Ambani-led Reliance Natural Resources Ltd (RNRL) and Mukesh Ambani's Reliance Industries Ltd (RIL) from Thursday.

Thu, 24 Jul 2008
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India 'undisputed leader' in offshore services: Gartner

India remains the 'undisputed leader' in a list of the top 30 countries for offshore services prepared by IT market research major Gartner Inc.

Tue, 22 Jul 2008
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Indian-origin Harvard professor to join GVK Biosciences board

GVK Biosciences, a leading contract research organization, Tuesday announced the appointment of Tarun Khanna, a Harvard Business School (HBS) professor, to its board of directors.

Mon, 21 Jul 2008
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Bollywood feels inflation heat, but takes it in stride

Bollywood, India's Rs.96 billion ($ 2.3 billion) film industry, has taken a beating due to rising prices.

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BHEL Q1 net up 33 percent

Bharat Heavy Electricals Ltd (BHEL), India's largest engineering and manufacturing enterprise in the infrastructure sector, announced Monday a 33 percent increase in its net profit in the first quarter of the current fiscal year over the comparable period of last year.

Tue, 22 Jul 2008
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New defence purchase policy will be industry friendly: Antony

Defence Minister A.K. Antony Tuesday assured Indian industry that the new Defence Procurement Procedure-2008 (DPP-2008) will give fresh impetus to speed up the indigenisation process.