India Business News

Mon, 05 Jan 2009
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Space may be reserved for poor in housing projects

In order to make housing affordable for the weaker sections of society, the government is thinking of reserving 20 percent of space in housing projects for them.

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Government to inject Rs.1 trn to prevent recession: Congress

The Congress party Monday said the government has decided to inject Rs.1 trillion (Rs.100,000 crore) in association with the private sector in the Indian economy to stimulate internal demand to insulate it from the effects of global recession.

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Tata, Kolkata firm form new telecom infrastructure company

Tata Teleservices, the country's leading CDMA telecom services provider, and Kolkata-based Quippo Telecom Infrastructure Monday announced the merger of their infrastructure businesses to create an independent telecom infrastructure company.

Tue, 06 Jan 2009
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Birla lays off employees at auto trim unit

Conglomerate Birla Corp Tuesday announced it had decided to lay off employees at the company's Birlapur auto trim division.

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Bubblegum company told to pay Rs.300,000 compensation

A well-known bubble-gum company has been directed by a consumer court here to pay a compensation of Rs.300,000 to a customer who was not given a Trip to America prize nearly eight years ago.

Wed, 07 Jan 2009
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Chandigarh mega projects under vigilance scanner

Controversial mega projects in Chandigarh worth billions of rupees under prevailing market prices are under the scanner of the Central Vigilance Commission (CVC).

Mon, 05 Jan 2009
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Daiichi says Ranbaxy acquisition will hit its bottomline

Japanese drug maker Daiichi Sankyo will take a hit on its books owing to its acquisition of Indian pharmaceutical major Ranbaxy Laboratories, a Daiichi company statement said Monday.

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No impact on rural development due to slowdown: minister

The global economic meltdown will not have any impact on rural development projects or budgetary allocations for the ministry of rural development, Minister for Rural Development Raghuvansh Prasad Singh said here Monday.

Tue, 06 Jan 2009
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Truckers vow to continue strike

Striking truckers Tuesday accused the government of indifference and vowed to continue their agitation, even as a leading exporters' organisation said the country would lose about Rs.10 billion daily on account of the stir.

Wed, 07 Jan 2009
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Airtel the most congested network, finds regulator

With the telephone subscriber base rising to 374.13 million in November, the congestion levels between one network to another has risen considerably with Bharti Airtel's network emerging the most congested.

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New York Stock Exchange halts trading in Satyam stock

The New York Stock Exchange Wednesday halted trading in the stock of beleaguered Satyam Computer Services prior to the opening of the market at 9.30 a.m. US eastern time, the NYSE said in a statement.

Sun, 04 Jan 2009
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Clear winter sun greets Delhi, fog blanket lifts

A pleasant clear wintry sun greeted the national capital Sunday, after days of dark damp mornings and heavy fog that caused havoc with air, rail and road traffic.

Tue, 06 Jan 2009
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PM's Global Advisory Council constituted

The government Tuesday constituted the Prime Minister's Global Advisory Council to facilitate a dynamic two-way engagement between stakeholders in India and the overseas Indian community.

Mon, 05 Jan 2009
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Markets open higher, Sensex crosses 10,000

Indian equities markets opened higher Monday, with a key index moving past the psychologically important 10,000-mark after gaining 1.51 percent over its previous close.

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Tata, Kolkata firm form new telecom infrastructure company

Tata Teleservices, the country's leading CDMA telecom services provider, and Kolkata-based Quippo Telecom Infrastructure, Monday announced the merger of their infrastructure businesses to create an independent telecom infrastructure company.