Business Line articles from October 2009, page 4

Business Line archives from October 2009

MARKET WATCH: Overseas advances help BoB post strong profit growth.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Bank of Baroda has posted a strong profit growth, which was in line with most other public sector banks' numbers. For the quarter ended September 30, 2009, net interest income and net profit grew by 22.5...

MARKET WATCH: Metal counters lose shine on LME volatility.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Mumbai, Oct. 28 - The BSE metal index has dipped over 8 per cent in the last one week against the 4 per cent drop in Sensex. Weak financial performance by metal majors such as Tata Steel and Sesa Goa in...

MARKET WATCH: SEBI in pact with Dubai regulator.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Mumbai, Oct. 28 - SEBI has inked a memorandum of understanding with Dubai's regulatory agency, Dubai Financial Services Authority (DFSA), for bilateral assistance and mutual co-operation. The DFSA is the...

MARKET WATCH: Short rollovers seen in ICICI Bank.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Chennai, Oct. 28 - Turnover crossed the Rs 1-lakh-crore mark for the second day in a row on Wednesday in F&O segment. Today's turnover was Rs 1.06 lakh crore. The Nifty Oct futures ended in premium at...

MARKET WATCH: Tata Communications (Rs 438.1): Sell.
October 29, 2009... from BUSINESS LINE, October 29, 2009 We recommend a sell in the stock of Tata Communications from a short-term perspective. It is apparent from the charts of the stock that following a medium-term uptrend from Rs 382 in February it changed...

MARKET WATCH: Day Trading Guide.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Utilise rallies to sell DLF with tight stop-loss at Rs 412. We recommend a buy in ICICI Bank with stiff stop-loss at Rs 800. Fresh long position can be initiated if Infosys moves above Rs 2274 and L&T...

LOGISTICS: Kochi port taxes stymie Louis Cruises' India plans.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Hyderabad Oct. 28 - The Kochi port may take the wind out of the sails of European cruise company Louis Cruises' plans to make India one of its home ports from December, with the revenue-starved port planning...

LOGISTICS: Y2,606-m Japan loan for freight corridor project.
October 29, 2009... from BUSINESS LINE, October 29, 2009 New Delhi, Oct. 28 - The Government of Japan has committed an amount of Y2,606 million (Rs 130 crore at current exchange rate) for the engineering services loan under the dedicated freight corridor project...

LOGISTICS: Ministry approves aerial advertising.
October 29, 2009... from BUSINESS LINE, October 29, 2009 New Delhi, Oct. 28 - The blue skies over the country could soon become the latest space for advertising companies to fight over. The Ministry of Civil Aviation has given 'in-principle' approval to an...

CORPORATE: 15 properties of SPIC put on auction.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Chennai, Oct. 28 - Fifteen properties belonging to Southern Petrochemical Industries Corporation (SPIC) have been put on auction, in order to raise funds to pay off Asset Reconstruction Company of India...

CORPORATE: MRPL Q2 net profit zooms on inventory gains.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Mangalore, Oct. 28 - Mangalore Refinery and Petrochemicals Ltd (MRPL) has registered a net profit of Rs 179.69 crore during the second quarter of 2009-10 as against Rs 24.92 crore in the corresponding period...

NEWS: Nerolac net profit doubles.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Mumbai, Oct. 28 - Kansai Nerolac Paints posted a 96 per cent rise in net profit at Rs 53 crore for the quarter ended September 30, 2009, as against Rs 27 crore logged in the same period last year. Net...

NEWS: Lakshmi Machine back to operating 2 shifts.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Coimbatore, Oct. 28 - Textile machinery manufacturing major Lakshmi Machine Works (LMW) is back to operating two shifts. Its Chief Financial Officer, Mr Rajendran, told Business Line that the company was...

CORPORATE: Puravankara Projects net up at Rs 60 cr.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Bangalore, Oct. 28 - Puravankara Projects has posted a net profit to Rs 60.86 crore during the second quarter of the fiscal, against Rs 50.47 crore recorded during the corresponding period last year. The...

CORPORATE: Madras Cements to go slow on sugar project.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Chennai, Oct. 28 - Madras Cements Ltd has decided to go slow on its proposed investment in a sugar mill and is likely to bring in a partner. According to reliable sources, Bannari Amman Sugars has evinced...

NEWS: RNRL says Oil Ministry colluding with RIL to prevent gas sale at $2.34/unit.
October 29, 2009... from BUSINESS LINE, October 29, 2009 New Delhi, Oct. 28 - The Anil Ambani-promoted Reliance Natural Resources Ltd (RNRL) alleged on Wednesday before the Supreme Court, which is hearing the gas row involving the Ambani brothers, that the Ministry...

NEWS: Lawyers' fees come under discussion.
October 29, 2009... from BUSINESS LINE, October 29, 2009 New Delhi, Oct. 28 - High fees charged by senior lawyers became a point of discussion at the Apex Court hearing the Ambani brothers' gas row. Mr Harish Salve, senior counsel for RIL, was narrating an...

BANKING/FINANCE: Subir Gokarn appointed RBI Deputy Governor.
October 29, 2009... from BUSINESS LINE, October 29, 2009 New Delhi, Oct. 28 - There is a saying in Urdu, "dayr say aaye, durust aaye, " which means they arrived late but arrived safely. As much can be said about Dr Subir Gokarn's appointment as a Deputy Governor...

BANKING/FINANCE: RBI pushing for acquisition of weak, sick urban co-ops.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Mumbai, Oct. 28 - The Reserve Bank of India appears inclined to encourage takeover of weak/sick urban co-operative banks (UCBs) by domestic scheduled commercial banks (SCBs). According to the central bank,...

BANKING/FINANCE: National Housing Bank net up 39% at Rs 236 cr.
October 29, 2009... from BUSINESS LINE, October 29, 2009 New Delhi, Oct. 28 - National Housing Bank (NHB) announced on Wednesday a 39 per cent increase in its net profit at Rs 236 crore for the year ended June 20. The housing finance regulator had posted a net...

BANKING/FINANCE: Credit Policy a well-tuned stimuli.
October 29, 2009... from BUSINESS LINE, October 29, 2009 The policy announcement made on Tuesday is a well sequenced and calibrated move on the part of the regulator to exit in a phased manner from the existing accommodative monetary stance. The status quo on...

BANKING/FINANCE: Towards growth management.
October 29, 2009... from BUSINESS LINE, October 29, 2009 The recovery has begun and the time is now ripe to shift gears towards effective growth management. The Second Quarter review is an emphatic assurance that the central bank is watching, calibrating and now...

AGRI-BUSINESS: Spot rubber rules firm.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Kottayam, Oct. 28 - The spot rubber market finished unchanged on Wednesday. A marginal improvement in the domestic rubber futures on NMCE failed to catalyse the sentiments as most of the traders preferred to...

AGRI-BUSINESS: Rains along TN coast to intensify.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Thiruvananthapuram, Oct. 28 - Scattered rainfall activity has occurred over coastal Tamil Nadu and south Andaman and Nicobar Islands, while being isolated over south Tamil Nadu and Lakshadweep during the 24...

AGRI-BUSINESS: 16 lakh kg tea on offer at Coonoor sales.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Coonoor, Oct. 28 - A volume of 16 lakh kg will be offered for Sale No: 44 at the Coonoor Tea Trade Association's auctions to be held on Thursday and Friday, shows an analysis of the listing by brokers. It...

AGRI-BUSINESS: Agri-commodities market may be bullish.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Hyderabad, Oct. 28 - The failure of kharif crops might lead to a "bullish" situation for the prices of pulses. "My gut feeling is that it will be bullish with regard to pulses, while there is no cause for...

NEWS: Air India may hit air pocket again from Nov 1.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Mumbai/New Delhi, Oct. 28 - Air India's operations could be disrupted again from November 1 with a section of employees threatening action over non-payment of productivity-linked incentive (PLI) dues. This...

NEWS: 'What happened with Satyam was an Indian problem'.
October 29, 2009... from BUSINESS LINE, October 29, 2009 New Delhi, Oct. 28 - The Corporate Affairs Minister, Mr Salman Khurshid, came out in support of Satyam's revival saying that the Government would not let the revival be sabotaged by any external influences....

BANKING/FINANCE: London re-insurers eye Indian market.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Hyderabad, Oct. 28 - Re-insurers from London, as well as other parts of Europe, see significant potential in the re-insurance market in India and are keen on hanging out their shingles in the country. And...

NEWS: India exploring options to lease coal mines in Australia: Shinde.
October 29, 2009... from BUSINESS LINE, October 29, 2009 New Delhi, Oct. 28 - India is exploring the option of leasing coal mines in Australia to tide over domestic coal shortages, the Power Minister, Mr Sushilkumar Shinde, said on Wednesday. "I have requested...

NEWS: NTPC may import coal directly next fiscal.
October 29, 2009... from BUSINESS LINE, October 29, 2009 New Delhi, Oct. 28 - NTPC Ltd is looking at the option of importing coal directly from the next financial year instead of the current practice of routing it through agencies such as MMTC, Chairman and...

NEWS: Class Action suit provision in Cos Bill to compensate investors.
October 29, 2009... from BUSINESS LINE, October 29, 2009 New Delhi, Oct. 28 - The Corporate Affairs Minister, Mr Salman Khurshid, on Wednesday said that the Companies Bill, 2009 will also have provisions for Class Action suits that will allow investors to seek...

NEWS: Banks told to lend more to farm, small sectors.
October 29, 2009... from BUSINESS LINE, October 29, 2009 New Delhi, Oct. 28 - At a meeting with the CEOs of north-based public sector banks, the Finance Minister, Mr Pranab Mukherjee, urged them to enhance credit flow to employment-generating sectors. Mr...

STATES: Kansai Nerolac to open more 'impression zones'.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Hyderabad, Oct. 28 - Kansai Nerolac Paints Ltd today opened its fifth 'Impression Style Zone' in Hyderabad and its 10th in three southern cities, including Chennai and Bangalore. It plans to open more such...

STATES: Work on new airport terminal apace in Kerala.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Thiruvananthapuram, Oct. 28 - The Airports Authority of India (AAI) is hopeful of commissioning the new terminal complex at the Thiruvananthapuram international airport by December as originally envisaged. ...

STATES: Pepper futures shoot up.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Kochi, Oct. 28 - Pepper futures on Wednesday shot up after declining on Tuesday on tight supply and strong demand. "Strong trade was taking place. Exporters with pending commitments were also covering,"...

STATES: Two-day agri meet from Nov 6.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Coimbatore, Oct. 28 - The Tamil Nadu Agricultural University is planning to host a three-day national conference of KVKs (Krishi Vigyan Kendras) between November 6 and 8. The Union Minister for Agriculture...

STATES: Tariff revision: Karnataka power cos to rework numbers.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Bangalore, Oct. 28 - The five electricity supply companies (Escom) in the State are beginning to rework their expected revenue charges in view of technical and legal compulsions. The pressure to rework the...

STATES: FICCI to hold meet on media business.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Chennai, Oct. 28 - The Federation of Indian Chambers of Commerce and Industry (FICCI) will organise a 'Media and Entertainment Business Conclave' on November 18 and 19 at Chennai. The aim of the conclave...

STATES: Govt plans HRD centres in Bijapur, Gulbarga.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Mangalore, Oct. 28 - The Karnataka Government, which has initiated measures to convert the employment exchanges in the State into HRD (human resource development) centres, opened its first HRD centre in...

STATES: Lok Ayukta annuls service tax on chit fund customers.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Thiruvananthapuram, Oct. 28 - The Lok Ayukta has ruled that it is 'unjust, unreasonable and oppressive' on the part of cash management services to claim a service tax from customers. Upa Lok Ayukta Mr N....

STATES: New Director at NIIST.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Thiruvananthapuram, Oct. 28 - Dr Suresh Das has been appointed Director of the National Institute for Interdisciplinary Science and Technology (NIIST) here. A scientist in photochemistry and photonic...

STATES: World Bank to partner Centre in urban renewal mission.
October 29, 2009... from BUSINESS LINE, October 29, 2009 New Delhi, Oct. 28 - Buoyed by the tangible success of the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) in improving civic amenities across the country in urban areas, the World Bank has come...

STATES: ISO meet on rubber begins in Kochi.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Kochi, Oct. 28 - The 57th annual meeting of the ISO TC45 (rubber and rubber products) began at Hotel Le Meridien here on Wednesday to deal with the preparation and developments of quality standards for the...

STATES: Tirupati, Pulivendula get LED street lights.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Hyderabad, Oct. 28 - The temple town of Tirupati and Pulivendula, the constituency of late Chief Minister of Andhra Pradesh Dr Y.S. Rajasekhara Reddy in Andhra Pradesh, have street lights powered by light...

STATES: Boat manufacturers concerned at questions on use of fibre glass.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Kochi, Oct. 28 Boat manufacturers in the private sector in Kerala are worried over allegations from several quarters over the seaworthiness of fibre- glass boats following the recent boat tragedy at Thekkady....

CATALYST: 'Mobile, TV are life enhancers'.
October 29, 2009... from BUSINESS LINE, October 29, 2009 With the advantage of its mobile network, and a brand as strong as Airtel, Airtel DTH is pursuing its place in the DTH market with great aggression. The strategy is different now says, Ajai Puri, Director...

CATALYST: Where brands matter, and don't.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Two minute-noodles, thick and sliceable like a moist cake. It's the second best thing I like having in the mountains. First is a cup of tea. There is, however, a difference between the two. Compared to...

CATALYST: Do you have a brandvocate?
October 29, 2009... from BUSINESS LINE, October 29, 2009 You don't have to go far to find brandvocates. Step into the nearest Kingfisher aircraft, and you will find Vijay Mallya espousing the merits of the airline and how it will provide you the finest flying...

CATALYST: Space for new activities with 'must stops'.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Do you feel overloaded at work? If 'yes,' as most of us would like to answer, the only comfort you can draw is the fact that you are not alone. Not surprisingly, therefore, whenever the management announces a...

CATALYST: Pulse of polls.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Research agencies engaged in conducting poll surveys will be appreciated far more than at present if only they treat such poll eve opportunities beyond commercial concerns, suggests N. Bhaskara Rao in A...

CATALYST: Tracking is worth the expense.
October 29, 2009... from BUSINESS LINE, October 29, 2009 In eBay auctions, follow-up is very important if you do not want negative feedback posted against you, counsels Mary Greenwood in How to Negotiate Like a Pro: 41 rules for resolving...

CATALYST: Follow the protocol.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Your 30-second television commercial is all set to get a digital makeover as the entertainment market gets restructured in the light of technological advancements. TV advertising is migrating into dynamic,...

CATALYST: Kaati's ready to roll.
October 29, 2009... from BUSINESS LINE, October 29, 2009 One of the most time-tested foods in the country has got branded. For many, the kaati roll or the paratha roll has been on the menu as a meal at least four times a week, if not more. "As the chapatti roll or...

CATALYST: In the pink.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Henkel India has launched Pril Perfect Exotic Rose in a new colour and fragrance. The product is priced Rs 62 for 425 ml packs. It is also available in variants such as lime, lemon, orange and natural...

CATALYST: Lock in lustre.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Paras Pharmaceuticals has introduced hair conditioners in four variants: Livon Moisture Max Conditioner with Shea Butter - for dry and damaged hair; Livon Pin Straight Conditioner with Ginseng Extract - for...

CATALYST: New & improved.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Dabur India has launched its culinary brand 'Hommade' in an all new packaging, revamping the entire category. The new look reportedly complies with premium, international standards of packaging. The shelf...

CATALYST: Pest control.
October 29, 2009... from BUSINESS LINE, October 29, 2009 Godrej Sara Lee has launched GoodKnight Naturals, a moisturising mosquito repellent cream. The cream is a combination of active and exotic natural ingredients. It contains tulsi, lavender for a soothing aroma...

CATALYST: What a dish!
October 29, 2009... from BUSINESS LINE, October 29, 2009 LaOpala has launched 11 new designs in the Diva range of table ware. The range has dinner sets, soup sets, pudding sets and gift items such as serving bowls, utility dish and oval platter. The dinner set...

CATALYST: Brushing up Brand Babu.
October 29, 2009... from BUSINESS LINE, October 29, 2009 With literacy slowly increasing, newspapers steadily consolidating and TV channels madly proliferating, nothing seems to be sacrosanct these days. While I was reading and listening to reports on the...

FRONT PAGE: End of easy money, says RBI.
October 28, 2009... from BUSINESS LINE, October 28, 2009 Mumbai, Oct. 27 - The Reserve Bank of India on Tuesday signalled reversal of the easy money policy, even as it left its key rates unchanged. In what it termed as the first phase of 'exit' of the...

FRONT PAGE: Sensex tanks 387 points.
October 28, 2009... from BUSINESS LINE, October 28, 2009 Mumbai, Oct. 27 - The Monetary Policy seems to have disappointed the stock market. The bellwether Sensex shed 387 points on Tuesday to close at 16,353.4 points and the broader Nifty ended the day lower by 2.5...

CORPORATE: RNRL net rises 5%.
October 28, 2009... from BUSINESS LINE, October 28, 2009 Mumbai, Oct. 27 - Reliance Natural Resources has posted a five per cent increase in profit for the second quarter ending September 30 at Rs 21 crore against Rs 20 crore in the same period last year. Income...

CORPORATE: Power Finance net zooms 94%.
October 28, 2009... from BUSINESS LINE, October 28, 2009 Mumbai, Oct. 27 - Power Finance Corporation has posted a 94 per cent increase in net profit for the quarter ended September at Rs 637 crore against Rs 329 crore in the corresponding period last year....

CORPORATE: Madras Cements net profit jumps 50% on higher sales.
October 28, 2009... from BUSINESS LINE, October 28, 2009 Chennai, Oct. 27 - Higher cement production and sales, market mix and low fuel costs have contributed to Madras Cements' net profit for the second quarter of the current year growing by 50 per cent to Rs 170...

CORPORATE: Tata Steel Q2 net profit halves on fall in product prices.
October 28, 2009... from BUSINESS LINE, October 28, 2009 Mumbai, Oct. 27 - Tata Steel's net profit almost halved to Rs 903 crore (Rs 1,788 crore) during the second quarter ended September 30, primarily due to a sharp fall in steel and ferro alloy prices. Net...

CORPORATE: Formulations biz fuels Zydus Cadila net.
October 28, 2009... from BUSINESS LINE, October 28, 2009 Ahmedabad, Oct. 27 - Zydus Cadila has reported a 39 per cent increase in its net profit for the second quarter ended September 30 at Rs 131.9 crore (Rs 94.9 crore). The consolidated total income from...

CORPORATE: Gokaldas Exports net rises on better currency realisation.
October 28, 2009... from BUSINESS LINE, October 28, 2009 Bangalore, Oct. 27 - Better currency realisation and end of forex losses have helped apparel exporter Gokaldas Exports post an increase in net profit for the second quarter ended September 30, 2009, at Rs 9...

CORPORATE: Hyderabad airport losses drag down GMR Infra net profit 40%.
October 28, 2009... from BUSINESS LINE, October 28, 2009 Bangalore, Oct. 27 - Losses from the new Hyderabad airport and toll roads have together pulled down by 40 per cent the Q2 net profits year-on-year of GMR Infrastructure Ltd, according to a company official....

CORPORATE: Jet's losses pile up to Rs 407 cr in Q2.
October 28, 2009... from BUSINESS LINE, October 28, 2009 Mumbai, Oct. 27 - Jet Airways sank deeper into the red with a net loss of Rs 407 crore for the quarter ended September 30, a result of falling average yields due to low fares, coupled with the impact of the...

CORPORATE: Ceat rolls in to profits of Rs 61.5 cr.
October 28, 2009... from BUSINESS LINE, October 28, 2009 Mumbai, Oct. 27 - Tyre maker Ceat, part of the Rs 13,500-crore RPG Group, has posted record net profits of Rs 61.5 crore for the three months ended September 30, against a net loss of Rs 28.8 crore last year...

CORPORATE: JK Lakshmi Cement net surges 75% in Q2.
October 28, 2009... from BUSINESS LINE, October 28, 2009 Mumbai, Oct. 27 - JK Lakshmi Cement has reported that its net profit rose 75 per cent to Rs 47 crore in the second quarter ended September 30, against Rs 27 crore in the corresponding period last year. Sales...

NEWS: Hinduja Global net more than doubles at Rs 38 cr.
October 28, 2009... from BUSINESS LINE, October 28, 2009 Chennai, Oct. 27 - Hinduja Global Solutions Ltd, the Mumbai-based IT company, more than doubled its net profit to Rs 38 crore for the quarter ended September 30, 2009, as against Rs 16 crore for the...

INFO-TECH: Geometric net up.
October 28, 2009... from BUSINESS LINE, October 28, 2009 Mumbai, Oct. 27 - Engineering solutions major Geometric has reported a 86.32 per cent rise in consolidated net profit (before minority interest) for the second quarter ended September 31 at Rs 13.5 crore, up...

INFO-TECH: Firms up severance package for French unit staff.
October 28, 2009... from BUSINESS LINE, October 28, 2009 Bangalore, Oct. 27 - Wipro Ltd said it has finalised a severance package in consultation with the French Works Council for its 60 employees at the NewLogic design centre in Sophia Antipolis. "We have come...

INFO-TECH: Wipro profit rises 19%; volumes set to expand.
October 28, 2009... from BUSINESS LINE, October 28, 2009 Bangalore, Oct. 27 - Wipro Ltd beat its own as well as street estimates to report strong second quarter, aided by increased order flows, operational efficiencies and forex gains. The company forecast a...

INFO-TECH: Second half to be far better, says Senapaty.
October 28, 2009... from BUSINESS LINE, October 28, 2009 Bangalore, Oct. 27 - Wipro Ltd expects the second half of the fiscal to be better than the first half as its order book swells amidst stability in pricing environment. "We expect the second half to be far...

INFO-TECH: No deviation in award of licences: Raja.
October 28, 2009... from BUSINESS LINE, October 28, 2009 New Delhi, Oct. 27 - Even as the CBI probes the allegations of irregularities in the awarding of mobile licences, the Communications Minister, Mr A. Raja, said on Tuesday that he had followed the same...

INFO-TECH: Intel partners HCL Info, BSNL for WiMax programme.
October 28, 2009... from BUSINESS LINE, October 28, 2009 New Delhi, Oct. 27 - The Intel Corp CEO, Mr Paul S. Otellini, on Tuesday asked India to make broadband wireless access a national imperative to leverage healthcare, education and employment opportunities. ...

BANKING/FINANCE: Guidelines soon for CEO compensation packages.
October 28, 2009... from BUSINESS LINE, October 28, 2009 Mumbai, Oct. 27 - Private and foreign banks will soon have to formulate a framework for linking CEO compensation packages to business levels. In the Second Quarter Review of Monetary Policy 2009-10, the...

BANKING/FINANCE: Banks asked to increase NPA provisioning coverage to 70%.
October 28, 2009... from BUSINESS LINE, October 28, 2009 Mumbai, Oct. 27 - Banks will have to increase their provisioning coverage for net non-performing assets to 70 per cent, which will include floating provisions. In the Second Quarter Review of Monetary...

BANKING/FINANCE: 'SLR hike will not impact banks'.
October 28, 2009... from BUSINESS LINE, October 28, 2009 Hyderabad, Oct. 27 - Mr R.S. Reddy, Chairman and Managing Director, Andhra Bank said, "As of now, the policy should not have much impact on the current scenario. The high liquidity in the market would...

BANKING/FINANCE: Nod for currency futures contracts in different currency pairs.
October 28, 2009... from BUSINESS LINE, October 28, 2009 Chennai, Oct. 27 - The RBI has decided to permit recognised stock exchanges to offer currency futures contracts in currency pairs of Euro-INR, Japanese Yen-INR and Pound Sterling-INR, in addition to the US...

BANKING/FINANCE: SLR hike will facilitate Government borrowing.
October 28, 2009... from BUSINESS LINE, October 28, 2009 Bangalore, Oct. 27 - The Reserve Bank of India hiking the Statutory Liquidity Ratio to 25 per cent from 24 per cent is aimed at facilitating the government borrowing target for the current financial year. ...