Vamban News » Business

Eyeing English Readers, Best-selling Foreign Authors Head to India

Vamban — Fri, 22 Oct 2010 06:08:11 +0000

New Delhi, Oct 22 – Indian readers of contemporary English fiction are reaping a rich harvest as top British and American authors head to India to promote their books. Best-selling names Ken Follet, Peter James and Wilbur Smith are the latest to chart out trips to the country. India has one of the biggest English [...]

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Warm Day in Delhi, But Rains Expected

Vamban — Fri, 22 Oct 2010 04:42:03 +0000

New Delhi, Oct 22 – It would be a warm day again in Delhi, the weather office said Friday but also held out the possibility of rains. ‘Skies will be partly cloudy with possibility of light rainfall or thundershower in the afternoon or evening (Friday). The humidity may rise again if it rains,’ said an [...]

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Wipro Projects $1.33 Bn From IT Business in Q3

Vamban — Fri, 22 Oct 2010 04:42:01 +0000

Bangalore, Oct 22 – Wipro Ltd Friday projected $1.33 billion from its global IT services business in the third quarter (October-December) of fiscal 2010-11. In a regulatory filing, the IT bellwether said Q3 guidance would be in the range of $1.32-1.34 billion, which is $65 million higher than its projection of $1.25-1.28 billion for the [...]

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Wipro Net Up 10 Percent in Second Quarter

Vamban — Fri, 22 Oct 2010 04:06:06 +0000

Bangalore, Oct 22 – Wipro Ltd Friday posted a net profit of Rs.1,285 crore (Rs.12.85 billion) for second quarter (July-Sep) of this fiscal 2010-11, registering an increase of 10 percent year-on-year (YoY). In a regulatory filing, the IT bellwether said its total revenue for the quarter under review was Rs.7,731 crore (Rs.77.31 billion), an increase [...]

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Environment Ministry Stops Vedanta’s Refinery Expansion in Orissa

Vamban — Thu, 21 Oct 2010 18:20:13 +0000

New Delhi, Oct 21 – The environment ministry Thursday decided to stall the six-fold expansion of London-based Vedanta’s aluminium refinery and captive power plant in Orissa citing violation of environment laws and asked the state government to take legal action against the company. The ministry had issued show cause notice to the company under the [...]

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IRDA Bans Universal Life Products

Vamban — Thu, 21 Oct 2010 16:24:13 +0000

Chennai, Oct 21 – In yet another policy holder-friendly move, the Insurance Regulatory and Development Authority (IRDA) Thursday banned the sale of universal life products from Oct 22, 2010. The universal life product is a mix of unit linked insurance and traditional policies. Unlike unit linked insurance policy (ULIP) the fund value is not declared. [...]

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Provide Records to Probe Agencies, Delhi Officials Told

Vamban — Thu, 21 Oct 2010 16:24:09 +0000

New Delhi, Oct 21 – The Delhi government Thursday directed its officials and those of the Municipal Corporation of Delhi (MCD) and New Delhi Municipal Council (NDMC) to provide records to agencies probing alleged widespread corruption in the Oct 3-14 Commonwealth Games. ‘The officials were asked to give their records,’ Delhi Chief Secretary Rakesh Mehta [...]

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Life Insurance Had a Great Fall in September

Vamban — Thu, 21 Oct 2010 15:56:08 +0000

Chennai, Oct 21 – The domestic life insurance industry had a great fall in new business in September in the wake of new regulations governing unit-linked insurance policy (ULIP) that kicked in Sep 1. Last month, the 23 life insurers earned a total new business premium of Rs.9,612.74 crore as against Rs.18,500.53 crore earned in [...]

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Delhi Power Firms Post Rs.36 Crore Dividend

Vamban — Thu, 21 Oct 2010 15:56:03 +0000

New Delhi, Oct 21 – Delhi Chief Minister Sheila Dikshit was Thursday presented dividend cheques of Rs.36 crore by the two city government-owned power companies. ‘The cheques were presented by Chief Secretary Rakesh Mehta, who is also the principal secretary of the power department and CMD of the power companies,’ an official said. Of the [...]

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France Invites Indian Investment

Vamban — Thu, 21 Oct 2010 15:18:14 +0000

Mumbai, Oct 21 – France seeks more Indian investment, a senior French diplomat said Thursday. Speaking at a seminar on ‘Investment Opportunities in France’, Consul General Francois Pujolas said: ‘When France sees India, we do not see business, we see a partner. It is a partnership that is global and balanced.’ Organised by Confederation of [...]

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Shipping Corporation Adds Another Vessel to its Fleet

Vamban — Thu, 21 Oct 2010 15:18:04 +0000

Mumbai, Oct 21 – The Shipping Corporation of India Ltd (SCI) Thursday took delivery of a Large Range-I (LR-I) product tanker, taking its fleet strength to 76, an official said. M.T. Swarna Kaveri is the last of SCI’s six LR-Is ordered from South Korea’s STX Shipyard. ‘Orders for these vessels were placed in October 2006. [...]

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Court Refuses to Lift Ban on Sand Mining

Vamban — Thu, 21 Oct 2010 14:54:20 +0000

Mumbai, Oct 21 – The Maharashtra government suffered a setback Thursday when the Bombay High Court refused to lift a ban on sand mining in the state – a day after the ruling Democratic Front proposed a draft policy on the issue. A division bench of Justice B.H. Marlapalle and Justice U.D. Salvi refused to [...]

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Tata Consultancy Services Net Profit Up 32 Percent

Vamban — Thu, 21 Oct 2010 14:36:05 +0000

Mumbai, Oct 21 – India’s largest software services company Tata Consultancy Services Thursday reported a 32 percent rise in the net profit at Rs.2,169 crore for the quarter ended Sep 30. The Tata Group company had netted Rs.1,642 crore in the corresponding quarter last fiscal. ‘In uncertain economic conditions our results are a milestone on [...]

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Metro Accident Victim Moves Court, Seeks Rs.50 Lakh Relief

Vamban — Thu, 21 Oct 2010 14:12:51 +0000

New Delhi, Oct 21 – Twentytwo-year-old Mehjabi who lost her legs in a freak accident at a Metro station in March moved the Delhi High Court Thursday seeking a compensation of Rs.50 lakh from Delhi Metro and a government job. In her petition, she demanded that the safety standards at Metro stations be improved. Hearing [...]

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ONGC Says its Approval Needed for Cairn-Vedanta Deal

Vamban — Thu, 21 Oct 2010 14:12:37 +0000

Mumbai, Oct 21 – State-run Indian oil and gas explorer ONGC Thursday said its approval is required if a proposed sale of Cairn Energy’s Indian unit to Vedanta Resources has to go through. The company said it also has the option to exercise its preemptive rights. In a letter, it enquired about the financial strength, [...]

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Mumbai Film Festival Promises to be Bigger, Better

Vamban — Thu, 21 Oct 2010 14:12:34 +0000

Mumbai, Oct 21 – As the 12th Mumbai Film Festival – MAMI as it is popularly called by the initials of Mumbai Academy of Moving Image – gets under way Thursday, festival director Srinivasan Narayanan is a proud man. ‘It’s one of the best selections of films you’ll ever find in any film festival, both [...]

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Allahabad Bank Q2 Net Up 20.68 Percent

Vamban — Thu, 21 Oct 2010 14:12:12 +0000

Kolkata, Oct 21 – City-based Allahabad Bank has posted a net profit of Rs.402.57 crore for the second quarter as against Rs.333.59 crore in the corresponding period last fiscal, recording a growth of 20.68 percent. Total business of the public sector bank stood at Rs.1,96,816 crore as on Sep 30, 2010, as against Rs.1,48,103 crore [...]

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Auction Market for Watches, Jewels Looking Up

Vamban — Thu, 21 Oct 2010 14:12:08 +0000

New Delhi, Oct 21 – Jewellery and watches have returned to the auction circuit as a pair of emerald and diamond ear pendants topped the Saffronart Autumn Online Auction of Fine Jewels and Watches by raking in Rs.85.10 lakh ($197,907). Moreover, a Patek Philippe men’s 18K Yellow Gold ‘Annual Calendar’ wristwatch was sold for Rs.12.37 [...]

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Hero Honda to Set Up Facility in Himachal

Vamban — Thu, 21 Oct 2010 13:28:01 +0000

Shimla, Oct 21 – Two-wheeler major Hero Honda has approached the Himachal Pradesh government to provide land for setting up its fourth facility, a minister said here Thursday. ‘Hero Honda has requested the government to provide 2,000 bighas (one bigha is 0.4 hectare) in Baddi-Barotiwala-Nalagarh industrial area,’ Industries Minister Kishan Kapoor told IANS. He said [...]

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Will Protect Industry in Aftermath of Report on Telangana: Rosaiah

Vamban — Thu, 21 Oct 2010 13:12:03 +0000

Hyderabad, Oct 21 – Andhra Pradesh Chief Minister K. Rosaiah Thursday assured the industry that the government would protect its interests after the Justice B.N. Srikrishna committee submits its report on the demand for a separate Telangana state. Addressing captains of industry here, the chief minister said the government would take all steps to maintain [...]

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