India Business Insight articles from November 2009

India Business Insight archives from November 2009

ONGC CLOSE TO BIG OIL FIND (is expected to increase the company's total onshore oil production by about 20%).
November 30, 2009... Oil and Natural Gas Corporation (ONGC) has found traces of a new oil reserve in Gujarat, which is expected to increase the company's total onshore oil production by about 20 percent. The new hydrocarbon structure located at North Kadi in the...

GAMMON'S Rs5,000 CRORE FOR ROAD PROJECT (plans to bid for 10 projects by the end of 2009-2010).
November 30, 2009... Gammon India plans to make an annual investment of up to Rs5,000 crore for roads development projects. The company plans to bid for 10 projects by the end of 2009-2010.

ANSAL API TO LAUNCH AFFORDABLE HOMES (plans to sell 10,000 units by Mar 2010).
November 30, 2009... Ansal API plans to launch over two million sq ft area under affordable housing category during 2010-2011. The company has already sold over 8,500 affordable houses in a price range of Rs5- 12 lakh in 2009 and will achieve the target of...

SCANDIC FOOD TO FOCUS ON INDIA (plans to expand its distribution network to 100 cities).
November 30, 2009... Scandic Food India plans to expand its distribution network to 100 cities in India by Mar 2010. The company produces jams, ketchup and frozen foods. The company also plans to commence exports.

USHA BRECO TO ENTER AFFORDABLE HOUSING (at an investment of Rs400 crore).
November 30, 2009... Usha Breco Realty has planned four projects across India at an investment of Rs400 crore. The company plans to tap the opportunities in the affordable housing segment.

NANOTECHNOLOGY INNOVATION PARKS (have signed MoUs with the Governments of Himachal Pradesh and Gujarat).
November 30, 2009... Nanobiosym of the US plans to set up multipurpose nanotechnology innovation parks in India. The Governments of Himachal Pradesh and Gujarat have signed MoUs with the company to establish the Nanobiosym Tech Park.

B K BIRLA FIRM CLOSE TO BUYING TEA ESTATE IN AFRICA (is acquiring a tea estate in Uganda).
November 30, 2009... Jay Shree Tea & Industries, a B K Birla group company, is likely to complete its first overseas acquisition, in Uganda. The company has 21 estates spread across the tea producing regions of Assam, Darjeeling, Jalpaiguri, Uttar Dinajpur...

ONGC ADDS 30 MT OIL IN MUMBAI HIGH TILL OCT (Phase 1 of Mumbai High North project has added 11.14 mt).
November 30, 2009... Oil and Natural Gas Corporation (ONGC) has added over 30 million tonnes (mt) of oil through the on-going re-development activities in Mumbai High in Oct 2009. The total incremental production from Mumbai High North Redevelopment project is 11.71...

NTPC CASE: HC NO TO PLEA FOR DEFREEZING ACCOUNT (defreezing of the account cannot be done without the approval of the Governments of India and Britain).
November 30, 2009... The Delhi High Court has refused to order defreezing of a UK bank account of M/s Ravina Associates Pvt Ltd, which has been accused of receiving $20.07 million in kickbacks from M/s FGUPVO Technopromexport (TPE) of Russia for securing a...

JAPAN STEEL FOCUSES ON INDIA TO EXPAND OPERATIONS (has set up a marketing and after-sales office in India).
November 30, 2009... Japan Steel Works is focusing on emerging economies such as India to expand its overseas operations following the declining performance in major markets such as the US. The company, known for its forging and engineering equipment supplies, has...

ACER TO LAUNCH ANDROID PHONES IN DECEMBER (plans to launch up to 10 new mobile devices in 2010).
November 30, 2009... Acer plans to launch Google's Android operating system-based mobile devices in India in Dec 2009. The company plans to focus on developing content around the Android platform and launch up to 10 new mobile devices in 2010. Acer also launched...

OVERALL EMPLOYMENT IN COUNTRY INCREASED, SAYS LABOUR BUREAU (owing to the stimulus packages announced by the Government of India).
November 30, 2009... The overall employment in India has increased by about five lakh jobs in Jul-Sep 2009 mainly owing to the stimulus packages announced by the Government of India, according to a survey by the Labour Bureau. The stimulus packages, which...

COFFEE EXPORTS DOWN 17% DURING JAN-NOV (owing to a decline in demand from consuming countries).
November 30, 2009... Coffee exports from India declined by 17 percent to 1,72,306 tonnes in Jan-Nov 2009 (2,06,736 tonnes in Jan-Nov 2008). The decline in coffee exports has been attributed to a decline in demand from consuming countries owing to the economic...

WORLD'S SMALLEST 10x ZOOM DIGITAL CAMERA (produces high resolution results throughout the focal range).
November 30, 2009... Fujifilm India has launched FFinePix F70EXR, the world's smallest 10x zoom digital camera, in India. The camera comes with Fujinon 10x zoom lens that produces high resolution results throughout the focal range. The camera can be switched to high...

ISB LAUNCHES TWO INITIATIVES TO PROMOTE STUDENT ENTREPRENEURS (the initiatives have been launched by Wadhwani Centre for Entrepreneurship Development).
November 30, 2009... Indian School of Business (ISB), Hyderabad, has launched two new initiatives to encourage entrepreneurship among students. The institute's Wadhwani Centre for Entrepreneurship Development (WCED) has launched the Entrepreneurs Development...

SWEET MOVE: SHREE RENUKA SUGARS (has acquired Vale Do Ivai of Brazil for $82 million).
November 30, 2009... Shree Renuka Sugars (SRS) is likely to benefit from the high sugar prices in India. The company, which has cane crushing capacity of 35,000 tonnes per day (TCD) and sugar refining capacity of 4,000 tonnes per day (TPD), has acquired Vale Do Ivai...

CLEAR SIGNAL: DISH TV (plans to increase its subscriber base).
November 30, 2009... A $100 million GDR issue and proceeds from a rights offer are likely to help Dish TV to expand its subscriber base and face competition. The company, which has a market share of about 37 percent, is targeting a major share of the Rs3,000 crore...

IBM IS CHEAPER THAN INFOSYS! (Indian firms have P/E Ratio of 22-25).
November 30, 2009... The performance of stock markets in 2009 has resulted in the US Dow Jones Industrial Average trading at a large discount to India's Sensex. Analysts say that a rupee of earnings of the 30 stocks that constitute the Dow Jones Industrial Average...

US FUNDS ARE TOP INVESTORS IN INDIAN MARKETS (US-based FIIs have invested Rs21,344.9 crore till mid-Nov 2009).
November 30, 2009... India has emerged as one of the most lucrative markets for short and medium term investments and US funds are once again among the top investors in the domestic market. US-based foreign institutional investors have made net investments of...

RELIANCE'S D6 GAS LIGHTS UP IDLE CAPACITY (plant load factor of over 80 percent in Oct 2009).
November 30, 2009... Gas-based power generation in India has registered a healthy turnaround following the start of production from the D6 fields of Reliance Industries Ltd. A total of 15 gas-based power stations registered a plant load factor of over 80 percent...

CAT SNAG DUE TO VIRUSES: PROMETRIC (hundreds of students prevented from taking the exam).
November 30, 2009... Prometric says that a virus attack disrupted the first online Common Admission Test for entry into Indian Institutes of Management and other leading business schools in India. Technical snags prevented hundreds of students from taking the exam...

FOCUS: HEG (scrip has been on an uptrend since early-Nov 2009).
November 30, 2009... The stock of HEG, a leading manufacturer of graphite electrodes in India, has been witnessing an increase in trading volumes. The scrip has been on an uptrend since early-Nov 2009. Analysts say that the HEG scrip has been on a short-term...

BIGGER HIT, SLOWER RECOVERY FO SMALL COS (poor performance continues in first half of 2009-2010).
November 30, 2009... An analysis of the performance of Indian companies in 2008-2009 shows that smaller firms recorded a more drastic fall in profits than their bigger counterparts. Recovery has also been slower for small firms, with their poor financial performance...

BAN ON ILLEGAL HANDSETS: 20 MILLION MOBILE USERS TO GO OFF AIR TOMORROW (operators seek two-month extension of the deadline).
November 30, 2009... The Department of Telecom, Government of India, has directed all mobile service providers to disconnect subscribers having handsets without IMEI numbers. Operators will start disconnecting such subscribers from 1 Dec 2009. It is suspected that...

CONCERNS ON NUMBER PORTABILITY (the system should adhere to requirement of security agencies).
November 30, 2009... The Department of Telecom, Government of India, has directed all mobile operators to ensure that the mobile number portability system being implemented adheres to the requirement of security monitoring agencies. The mobile number portability...

JAPAN STEEL FOCUSES ON INDIA (the company may consider establishing warehouses).
November 30, 2009... Japan Steel Works of Tokyo has decided to focus on emerging economies such as India to expand its overseas operations. The company is known for its supplies of forging and engineering equipment. The Japanese firm presently undertakes its...

USHA BRECO EYES AFFORDABLE HOUSING (plans projects with units in the sub-Rs20 lakh range).
November 30, 2009... Usha Breco Realty of the Usha Martin Group is looking to tap opportunities in the affordable housing segment. The company has planned four projects across India with investments of Rs400 crore. The projects are to come up in Pune, Bangalore,...

TITAN ENERGY, SUNIVA SET UP UNIT IN BENGAL (set up 1-MW solar electric power project at Jamuria).
November 30, 2009... Suniva Inc of the US, a manufacturer of monocrystalline silicon solar cells and solar modules, has joined hands with Titan Energy Systems to set up a 1-MW solar electric power project at Jamuria in West Bengal. The project is likely to be...

SPICE MOBILE TO SET UP UNIT TO MAKE HANDSETS (initial investment of Rs100 crore in the project).
November 30, 2009... Spice Mobile has announced plans to set up a plant to produce mobile devices in India by 2010. It has planned an initial investment of Rs100 crore in the project. The company already has a facility at Baddi in Himachal Pradesh for manufacturing...

HIRING ACTIVITY SPURS DEMAND FOR HR PROFESSIONALS (ABC Consultants plans recruitment process outsourcing).
November 30, 2009... The demand for human resource and recruitment personnel in India is reviving following the economic recovery and resultant improvement in recruitment across sectors. Recruitment firm CareerNet Consultant of Bangalore says that it has placed...

AIR INDIA FLIGHTS TO OPERATE AS USUAL FROM TOMORROW (pilots have withdrawn the strike call issued earlier).
November 30, 2009... Flights of Air India are set to commence normal operations from 1 Dec 2009 following the airline management and pilots reaching an agreement on 29 Nov 2009. Pilots have withdrawn the strike call issued earlier and they will be meeting with the...

KAIGA PLANT LEAK AN ACT OF MISCHIEF, SAYS AERB TEAM (tritium was mixed in water meant for drinking).
November 30, 2009... The team from the Atomic Energy Regulatory Board that is investigating the radiation leak at the Kaiga Atomic Power Station in Karnataka has concluded that it was an act of mischief by disgruntled elements within the power station. More than 55...

MARRIOTT SET TO ADD 550 ROOMS (three new properties to open in next 2-3 weeks).
November 30, 2009... Marriott International has decided to add over 550 rooms to its existing room inventory of over 2,000 rooms across India. The company will be opening three new properties under the Courtyard by Marriott brand at Gurgaon, Hyderabad and...

SHRIRAM EPC IN PACT WITH CHINESE CO FOR POWER PROJECTS (to take up EPC contracts for thermal power plants).
November 30, 2009... Shriram EPC Ltd has entered into an agreement with North West Electric Power Design Institute of China to form a consortium to take up engineering, procurement and construction contracts for thermal power plants in India. The agreement is valid...

FRANKLIN TEMPLETON PLANS INCOME FUND (scheme targets high returns and stability of capital).
November 30, 2009... Franklin Templeton Investments (India) is set to launch an open- ended income fund with the aim of providing high returns and stability of capital. The Templeton India Income Opportunities Fund will open for subscription for 10 days from 1 Dec...

KYC NORMS FOR MONEY TRANSFER SERVICES TIGHTENED (agents will now have to profile every new customer).
November 30, 2009... The Reserve Bank of India has tightened the norms for money transfer services. Indian agents under the money transfer service scheme are now required to undertake profiling for every new customer. The profile has to contain information about...

NABARD TO FOCUS ON 13 STATES FOR SHG-BANK LINKAGE PROGRAMME (programme may cover one crore SHGs much before 2015).
November 30, 2009... The National Bank for Agriculture and Rural Development has identified 13 states in India to focus on the linkage between self help groups and banks. The microfinance services linkage programme for the poor could reach the milestone of covering...

SBI TO OPEN 23 BRANCHES OVERSEAS BY MARCH (the bank will have about 160 overseas branches by Mar 2010).
November 30, 2009... State Bank of India is set to open 23 new branches overseas in the next four months. The bank currently has the largest overseas presence among domestic banks and its overseas network would increase from 137 branches to around 160 branches by...

VIDEOCON DTH SERVICE IN TN (firm launches Videocon LCD TV with set-top box).
November 30, 2009... Videocon has rolled out its direct-to-home service in Tamil Nadu. The company also launched its Videocon LCD TV with set-top box in the state on 28 Nov 2009. It has also launched a DVD player linked set-top box and DVD-cum-set-top box linked LCD...

COURSE ON EMBEDDED SYSTEMS (College of Engineering-Trivandrum ties up with Silicon Labs).
November 30, 2009... The College of Engineering-Trivandrum is set to launch a short- term training programme in embedded systems in association with Silicon Labs of the US. The course is to be conducted under the aegis of the Centre for Continuing Education Cell....

Rs2,000-CRORE BIZ DEALS MADE AT EXCON (the event had close to 400 product launches).
November 30, 2009... The Confederation of Indian Industry says that business deals worth Rs2,000 crore were initiated at EXCON 2009, the construction equipment and technology trade fair than concluded at Bangalore on 29 Nov 2009. The event host says that the five-...

MERU CABS LOOKS TO DOUBLE FLEET SIZE (to invest Rs150 crore on expansion programme).
November 30, 2009... Radio taxi service Meru is planning to double its existing fleet size of 3,800 taxis in the next one year. The company has planned investments of about Rs150 crore over the next 12 months to fund the expansion. The Mumbai-based taxi service...

VC DEALS SURGE EVEN AMID THE DOWNTIDE (as VC funding touches $600 million during Jan-Sep 2009).
November 30, 2009... According to the Indian Venture Capital Association, the risk taking capacity of Indians has surged in the wake of the economic slowdown. The average venture capital (VC) seed funding size has risen from an average of $1.5-2 million during the...

FMCG FIRMS DISCARD NIELSEN DATA (as data published by the research company is skewed according to them).
November 30, 2009... The AC Nielsen data is considered the benchmark for market share data and category growth trends. However some fast moving consumer goods (FMCG) companies are discarding Nielsen data as data published by the research company is skewed...

RUGGED BOOT, GREEN SOLES (as Reliance Brands enters into a licensing and distribution deal with Timberland of US).
November 30, 2009... Timberland, the iconic shoe brand of US, is set to make an entry into India. Reliance Brands has entered into a licensing and distribution deal with Timberland. It will roll out the first store in 2010.

THAI FOOD CHAIN MINOR PLANS INDIA FORAY (by the middle of 2010).
November 30, 2009... Minor Food Group of Thailand will enter the Indian market by the middle of 2010. It plans to bring three of its major brands of ice cream, pizza and caf' into India. It will set up operations in India through the franchise route. The company...

RETAILERS IN EXPANSION MOOD AFTER LULL (and Indian and foreign retailers are now planning to open around 450 stores over the next 12-18 months).
November 30, 2009... Indian and foreign retailers have been lying low for over a year and a half due to the economic downturn. They are now planning to open around 450 stores over the next 12-18 months. Among the retailers that are planning to open stores across...

CAR PRICES SET FOR 2-PHASE HIKE IN 2010 (because of the increasing input costs).
November 30, 2009... Carmakers in India are preparing for a two-phase price hike after almost a year. This is because of the increasing input costs and the need to switch to stricter emission norms from Apr 2010. Prices of popular vehicles like Mahindra Scorpio,...

TURNING TURTLE PREMIUM MID-MARKET MENSWEAR SPACE (as the turnover of Turtle Ltd rises from Rs1.2 crore in 1995- 1996 to Rs60.4 crore in 2008-2009).
November 30, 2009... Menswear brand Turtle is one of the leading names in the premium mid-market menswear space. Turtle Ltd has been growing at a slow and steady pace. Its turnover has risen from Rs1.2 crore in 1995- 1996 to Rs60.4 crore in 2008-2009. Turtle retails...

EXECUTIVES NOT READY TO TAKE ONE-YEAR MBA BREAK (at IIMs).
November 30, 2009... Indian executives prefer to continue working than join a one-year management programme run by the Indian Institutes of Management (IIMs). There has been a drop in the number of applications received by the IIMs for their one-year executive...

USFDA INSPECTING LUPIN'S INDORE PLANT (and Lupin is confident of getting approval).
November 30, 2009... The United States Food and Drug Administration (US FDA) is inspecting the upcoming plant of Indian drugmaker Lupin at Indore and Lupin is confident of getting approval. After Lupin gets approval from the US FDA, it can start selling oral...

UNCLOGGED CHANNEL TO PUSH E-COMMERCE AT A GOOD CLIP (as RBI mandates that all payments under online commerce be credited directly to merchants, instead of getting cleared by intermediaries).
November 30, 2009... The Reserve Bank of India (RBI) has mandated that all payments under online commerce be credited directly to merchants, instead of getting cleared by intermediaries like CC Avenue and Paypal. At the moment, until payment is authorised and...

MTNL HAS GOT HIGHEST GSM SPECTRUM FOR DELHI, MUMBAI (and has 12.4 megahertz spectrum, the highest amount given to any operator so far).
November 30, 2009... Mahanagar Telephone Nigam Ltd (MTNL), which operates in Delhi and Mumbai, has 12.4 megahertz GSM spectrum. This is the highest amount given to any operator so far. Bharti Airtel, Vodafone, BPL and Bharat Sanchar Nigam Ltd have got a maximum of...

PHILIPS PLANS HEALTHCARE EQUIPMENT PLANT (in India).
November 30, 2009... Philips is increasing its focus on India as a strong growth market. It is setting up a healthcare equipment manufacturing plant in India for domestic and overseas markets. The proposed plant will integrate two Indian companies, which Philips...

'TATA REJECTS BRITISH GOVERNMENT 10 MILLION POUND STERLING LOAN' (for a technical centre in the Midlands).
November 30, 2009... The Tata group has rejected a loan of 10 million pound sterling from the Government of UK. This British government loan was supposed to be used for developing an electric version of one of the existing vehicle models of the Tata group. A daily...

AIRLINES REVIVE EXPANSION PLANS (as demand for air travel is improving globally).
November 30, 2009... Indian and foreign air carriers have decided to revive expansion plans as demand for air travel is improving globally. Domestic air carriers are adding flights, increasing capacities and new routes, though at a slower pace, to meet increasing...

MORE BUSINESS CHECKS INTO METRO HOTELS (as occupancies improve during Oct-Nov 2009).
November 30, 2009... Occupancies in hotels in Mumbai, Delhi and Gurgaon have improved during Oct-Nov 2009. However, room rates continue to be 18-20 percent lower than the winter season of 2007-2008.

GERMAN METALS MAJOR PUTS INDIA IN THE SPOTLIGHT (by planning to set up a dedicated engineering and design consultancy in India).
November 30, 2009... Metallurgical and mineral processing company Outotec Oyj of Germany is planning to set up a dedicated engineering and design consultancy in India. Outotec India, the fully owned Indian subsidiary of the German firm will operate out of...

POWER PLAN: GOVERNMENT PLANS ULTRA-MEGA STEEL PROJECTS (to accelerate development of steel projects).
November 30, 2009... The Ministry of Steel, Government of India, has proposed to launch ultra mega steel projects (UMSP) on the lines of the ultra mega power projects to accelerate development of steel projects. The ministry intends to identify four-five locations...

INDIAN BANKS CHECK EXPOSURE (to companies based in Dubai).
November 30, 2009... Commercial banks in India have started assessing their exposure to companies based in Dubai to estimate what exactly is at stake after Dubai World sought a six-month moratorium on debt payments. The banks are working out their loans to Dubai...

DON'T WORRY, SAYS ECGC, WILL PROVIDE COVER TO EXPORTERS (who have an exposure to Dubai).
November 30, 2009... The Export Credit Guarantee Corporation (ECGC) has assured exporters that it will provide cover to those who have an exposure to Dubai on a case-to-case basis. ECGC is the Government of India's export credit insurer.

SLUMP SEZs IT ALL: 3 BIGGIES WANT TO PULL OUT (as they are unable to go ahead with their projects on account of global slowdown and market conditions).
November 30, 2009... The economic slowdown has resulted in three large notified special economic zones (SEZs) requesting the Government of India for permission to abandon their projects. The three SEZs have stated that they are unable to go ahead with their projects...

CRACKDOWN SEEN ON FIRMS DEFAULTING ON SELF-ASSESSMENT (to boost direct tax collections).
November 30, 2009... The Central Board of Direct Taxes, Government of India, has directed its field officers to crack down on firms that have not paid self-assessed tax for 2009-2010 in order to boost direct tax collections. It should grow at 18 percent before Mar...

WITH END TO RECESSION IN VIEW NOW, TEXTILE COMPANIES EYE HIGH-END MACHINES (so that they will have an advantage when the global economy revives).
November 30, 2009... European manufacturers of textile machines are eyeing the Indian textile industry, expecting Indian firms to invest in technology so that they will have an advantage when the global economy revives. Indian companies had imported textile...

M-CAP OF TOP 10 COMPANIES DOWN Rs40,000 CRORE IN A WEEK (that ended on 28 Nov 2009).
November 30, 2009... The market capitalisation (M-cap) of the top 10 companies has fallen by Rs40,000 crore in a week that ended on 28 Nov 2009. Reliance Industries Ltd's M-cap has declined by Rs4,458.27 crore, taking its total M-cap to Rs3,44,729.38 crore for week...

SPICE EYES ENTRY INTO MF, BROKING SPACE (as it is betting big on financial services as a future growth driver).
November 30, 2009... The Spice group is planning to foray into the mutual funds (MF), stock-broking, stock distribution and micro-finance business by end of Mar 2010 as it is betting big on financial services as a future growth driver. It intends to launch a new...

TOKIO MARINE CONSIDERS AMC FORAY (in India).
November 30, 2009... Financial major Tokio Marine Holdings (TMH) of Japan is considering foraying into the Indian asset management space. The company has stated that there is a possibility that it may form an asset management company (AMC) in India in the future....

BAJAJ CAP AIMS AT 70% AUM GROWTH (for 2009-2010).
November 30, 2009... Bajaj Capital is aiming for a 70 percent growth in assets under management (AUM) for 2009-2010 on account of overall growth in institutional and retail segments. The company hopes to continue with its existing momentum because of its balanced...

IVR PRIME SETS MARKET CHARTS ON FIRE (after outperforming the equity market).
November 30, 2009... IVR Prime Urban (IVR) of Hyderabad has set the market charts on fire after outperforming the equity market. The stock has gained 271 percent since Jan 2009. Comparatively, the index of the Bombay Stock Exchange, Sensex, has gained only 68 percent.

PEUGEOT TO TIE UP WITH CAPARO FOR INDIA PLAN (of setting up a facility with annual capacity of 6,000 units initially at a cost of Rs1,500 crore).
November 30, 2009... Peugeot-Citroen of France is planning to form a joint venture (JV) with auto component manufacturer Caparo India, a fully owned subsidiary of the Caparo Group of UK. Peugeot intends to set up a facility with annual capacity of 6,000 units...

FINMIN SAYS NO TO INCOME TAX HOLIDAY FOR FIRST 7 NELP ROUNDS (as firms striking gas make profits after recouping their entire cost).
November 30, 2009... The Ministry of Finance, Government of India, has rejected a proposal from the Ministry of Petroleum to offer income tax (IT) holidays for companies producing natural gas under permits issued during the first seven rounds of the New Exploration...

GODREJ AND MARICO IN RACE TO BUY UK BEAUTY BRAND SIMPLE (whose brand value is estimated at $250 million).
November 30, 2009... Fast moving consumer goods majors such as Godrej Consumer Products Ltd (GCPL) and Marico Ltd are in the race to acquire skincare brand Simple of UK, whose brand value is estimated at $250 million. Simple is one of the largest beauty product...

AIR INDIA TO PAY $2.5 MILLION MORE AS PREMIUM TO ITS INSURER MARSH (in case insurance claims for damage to one of its plane exceeds $12 million).
November 30, 2009... Air India (AI) may end up paying $2.5 million more as premium over what it has already paid during its 2009-2010 renewal of policy on 1 Oct 2009 in case insurance claims for damage to one of its plane exceeds $12 million. AI's VT-ESM aircraft...

ALL-WEATHER ROADS DOUBLE RURAL INCOME: WORLD BANK (and also appreciates land prices by up to 80 percent and raises literacy rates by 10 percent).
November 30, 2009... The World Bank (WB) has stated that all-weather roads in villages in India have doubled rural income, appreciated land prices by up to 80 percent and raised literacy rates by 10 percent. WB has been supporting India's rural connectivity...

INFRA FIRMS BAG TOP RANKS IN PRE-SCORING SYSTEM (introduced to expedite the process of awarding road projects).
November 30, 2009... Indian infrastructure firms have bagged top ranks in a pre- scoring system introduced by the Ministry of Road Transport and Highways, Government of India. The system of awarding scores to developers on the basis of their investments in projects...

'INDO-US SERVICES TRADE MAY TOUCH $150 BILLION BY 2015' (from $60 billion at present, which includes $50 billion of merchandise trade).
November 30, 2009... The Confederation of Indian Industry (CII) has estimated Indo-US services trade to grow to $150 billion over the next six years (2015) from $60 billion at present, which includes $50 billion of merchandise trade. Services exports to USA from...

INDIAN MEN TO SPEND MORE ON BIKES IN NEXT 6-MONTHS, SAYS STUDY (on account of an expected fall in bank lending rates).
November 30, 2009... A study by Boston Analytics on Vehicle Purchase Intentions reveals that Indian bachelors are likely to spend more money on two-wheeler purchases over the next six months (mid-2010) on account of an expected fall in bank lending rates. The study...

WOCKHARDT, DBS BANK AGREE ON OUT-OF-COURT SETTLEMENT (as per which DBS Bank's exposure of Rs91 crore in Wockhardt has been settled at 75 percent discount).
November 30, 2009... Pharmaceutical company Wockhardt Ltd of Mumbai and DBS Bank of Singapore have agreed for an out-of-court settlement over a loan dispute. Both the firms have now approached the Bombay High Court (HC) with a consent decree, as per which DBS Bank's...

'ONGC TECHNICALLY SOUND TO HANDLE OFFSHORE OPS' (as it has developed sufficient technical expertise to manage drilling in such fields).
November 30, 2009... Oil and Natural Gas Corporation Ltd (ONGC) has stated that it is technically sound to undertake exploration and production of oil and gas in its offshore blocks. According to the company, it has developed sufficient technical expertise to manage...

'INDIAN IT COMPANIES INSULATED FROM DUBAI WORLD CRISIS' (as they have minimal exposure in the region).
November 30, 2009... Indian information technology (IT) firms are expected to remain largely unaffected from the ongoing debt crisis in Dubai World as they have minimal exposure in the region. However, banks and financial institutions (BFIs) that have exposure to...

PHILIPS PLANS INDIA HEALTHCARE FACILITY (unit will manufacture cardiovascular and X-ray equipments and will be set up in southern or western region).
November 30, 2009... Philips has announced its plans of setting up a production plant in India within 18 months to manufacture healthcare equipments for the domestic and export markets. The unit will manufacture cardiovascular and X-ray equipments and will be set up...

ADITYA BIRLA RETAIL MULLS IPO, CHARTS GROWTH PLAN (of becoming a $2 billion entity over the next five-six years).
November 30, 2009... Aditya Birla Retail Ltd (ABRL) is considering launching an initial public offer (IPO) after it starts making profits. ABRL has charted an ambitious growth plan of becoming a $2 billion entity over the next five-six years (2015-2016) through...

INDIAN BASMATI RICE NEEDS TO EXPAND GLOBAL FOOTPRINT (instead of depending on only a few countries, especially in the Gulf region).
November 30, 2009... The Ministry of Commerce and Industry, Government of India, has stated that India should seek new regions for basmati exports instead of depending on only a few countries, especially in the Gulf region. Gulf countries including Saudi Arabia...

HYDRO POWER DEVELOPERS OFFER EXTRA REHAB PACKAGE TO PROJECT-HIT FAMILIES (than the rehabilitation packaged based on the National Rehabilitation and Resettlement Policy, 2007).
November 30, 2009... Developers of hydropower projects have started offering more benefits to project-hit families than the rehabilitation packaged based on the National Rehabilitation and Resettlement Policy, 2007. The benefits include hefty assistance, micro...