Corporate News of the Day -- IIFL IJK Reliance Communications, in a letter to Telecom Minister Kapil Sibal, has said the Department of Telecommunications proposal on removing exemption given on cross‐ holding norms, if implemented, "will tantamount to closing operations of Reliance Telecom", its GSM arm. (BS) Infosys has appointed V Balakrishnan, director, and head of India, BPO and Finacle businesses as the chairman of Lodestone, a Swiss consulting company it had acquired last year. (BS) Bata India Ltd is planning to upgrade three of its factories in West Bengal, Bihar and Karnataka and set up about 100 new stores this year, for which the company has chalked out a Rs1bn capex plan. (BS) Lanco Infratech has been awarded a major EPC contract by Gujarat Industries Power Company. (BL) Suzlon Group subsidiary REpower Systems has concluded two contracts with ABO Wind for the supply of 13 wind turbines to be installed at two wind farms in Burgundy in France. (BL) OnMobile Global Ltd has entered into a definitive agreement to acquire Boston headquartered Livewire Mobile, a provider of managed mobile entertainment solutions for network operators and device manufacturers. (BS) Bank of Baroda did away with differential rates for home loan borrowers. It is to now charge 10.25%, its base rate for all home loans, irrespective of the tenor and amount of the loan. (BS) Bharti Airtel, along with consortium partners, has submitted its final technical bid for a telecom licence in Myanmar. (ET) TCS may sack 290 employees at its Finland office, a move that the workers say is an attempt to shift jobs to India. (ET) Escorts Ltd has inked a pact with the State Bank of India to would provide financial assistance to facilitate sale and service of the company’s farm equipment. (BS) L& T Finance might have to tweak its corporate structure following the Reserve Bank of India’s clarifications on the new bank licensing guidelines. (BS) Other News India’s gold imports in value terms touched shot up to US$15bn in the first two months of this fiscal, Commerce and Industry Minister Anand Sharma has said. (BL) The Cabinet approved the Real Estate Regulation and Development Bill that will enable the setting up of a regulator. (BL) The Reserve Bank of India has further tightened the norms for import of gold by imposing restrictions on nominated agencies, premier and star trading houses. The central bank has said these entities can import gold on a consignment basis only to meet genuine needs of gold jewellery exporters. (BS) Indian companies have raised US$11.16bn this calendar year in overseas bond sales, higher than the US$10.4bn raised in full year 2012 as companies rushed to take advantage of low global interest rates. (BS)
Posted on: Wed, 05 Jun 2013 03:34:38 +0000
Trending Topics
Recently Viewed Topics
© 2015