Mallya will not sell 'family silver' for Kingfisher

By Alan Baldwin

GREATER NOIDA - Liquor baron Vijay Mallya does not have to do a deal with UK drinks giant Diageo and will not sell prized assets to rescue his grounded Kingfisher airline, he told Reuters at the weekend.

Speaking in his office at Force India, the Formula One team he co-owns, the UB Group head poured scorn on media reports that he would

Coal prices dip but Indian buyers wait on sidelines

LONDON - Prompt physical coal prices slipped by 50-60 U.S. cents a tonne for the third day in a row as weak demand from India and China outweighed anxieties about South African strikes spreading to disrupt exports.

Although India's monthly imports have been strong and steady all year, spot buying for Q4 has been disappointing, suppliers said. (See picture galley o

DoT to seek time for EGoM meeting pre reallocation of spectrum

In a bid to ensure a flawless reallocation of spectrum, the department of telecom has said it will seek time from Empowered Group of Ministers, headed by Finance Minister P Chidambaram, for a meeting in early November to consider the issue of reallocation of spectrum to mobile operators. "We will seek time for a EGoM meeting in early November, before (spectrum) auction starts. Chairman

DoT to seek time for EGoM meeting pre reallocation of spectrum

In a bid to ensure a flawless reallocation of spectrum, the department of telecom has said it will seek time from Empowered Group of Ministers, headed by Finance Minister P Chidambaram, for a meeting in early November to consider the issue of reallocation of spectrum to mobile operators. "We will seek time for a EGoM meeting in early November, before (spectrum) auction starts. Chairman

Govt allows domestic airlines to own ground units at 6 metro airports: Ajit Singh

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Framing a new policy after approval of cabinet on security, the civil aviation minister, Ajit Singh said the government has allowed the domestic carriers to have their own ground units at 6 metro airports. “Airlines can create their subsidiaries for the purpose of ground handling and these subsidiaries can participate in the process to become th

Govt allows domestic airlines to own ground units at 6 metro airports: Ajit Singh

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Framing a new policy after approval of cabinet on security, the civil aviation minister, Ajit Singh said the government has allowed the domestic carriers to have their own ground units at 6 metro airports. “Airlines can create their subsidiaries for the purpose of ground handling and these subsidiaries can participate in the process to become th

Montek offers lease of life to Bharti, Vodafone

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There is something to cheer for the mobile phone operator after Planning Commission deputy chairman Montek Singh Ahluwalia recommended that the issue of refarming spectrum in the 900 MHz band needed a more thorough analysis. “I had indicated during the discussion that we need a more thorough analysis of the issues involved, keeping in mind the n

Montek offers lease of life to Bharti, Vodafone

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There is something to cheer for the mobile phone operator after Planning Commission deputy chairman Montek Singh Ahluwalia recommended that the issue of refarming spectrum in the 900 MHz band needed a more thorough analysis. “I had indicated during the discussion that we need a more thorough analysis of the issues involved, keeping in mind the n

Brace to pay more for petrol, diesel in Delhi soon

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Oil ministry has agreed to raise dealers’ commission which will increase the prices of petrol by 30 paise per litre and diesel by 18 paise per litre. Ajay Bansal, General Secretary of Federation of All India Petroleum Traders said that after the hike petrol will cost Rs 68.2 a litre and diesel Rs 47.13 per litre in Delhi. New prices will come in

Brace to pay more for petrol, diesel in Delhi soon

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Oil ministry has agreed to raise dealers’ commission which will increase the prices of petrol by 30 paise per litre and diesel by 18 paise per litre. Ajay Bansal, General Secretary of Federation of All India Petroleum Traders said that after the hike petrol will cost Rs 68.2 a litre and diesel Rs 47.13 per litre in Delhi. New prices will come in

Rise in EPS doesn’t translate into expansion in capital base for companies: ASSOCHAM Study

Corporates have shown a handsome increase in the earning per share (EPS) but the trend points to the inability of the companies to expand capital base and raise finances through the equity route, an ASSOCHAM study has found. The EPS trends, measured by the ASSOCHAM study of about 130 companies point out an increase of about 70 per cent earning per share for the quarter ended September 2012 a

Rise in EPS doesn’t translate into expansion in capital base for companies: ASSOCHAM Study

Corporates have shown a handsome increase in the earning per share (EPS) but the trend points to the inability of the companies to expand capital base and raise finances through the equity route, an ASSOCHAM study has found. The EPS trends, measured by the ASSOCHAM study of about 130 companies point out an increase of about 70 per cent earning per share for the quarter ended September 2012 a

EGoM to allow telcos to share airwaves

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In a recent development, the inter-ministerial group working on telecom issues, has given nod to the proposal to relax spectrum sharing rules for mobile phone companies. The Empowered Group of Ministers (EGoM) on Spectrum, led by Finance Minister P Chidambaram has decided to allow the telecom companies to share airwaves after they pay the one-time spe

EGoM to allow telcos to share airwaves

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In a recent development, the inter-ministerial group working on telecom issues, has given nod to the proposal to relax spectrum sharing rules for mobile phone companies. The Empowered Group of Ministers (EGoM) on Spectrum, led by Finance Minister P Chidambaram has decided to allow the telecom companies to share airwaves after they pay the one-time spe

Oil Ministry blocks PSUs to buy stake in GGCL: Media Reports

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The Oil Ministry has blocked its PSUs to buy state in Gujarat government’s Gujarat Gas Company Ltd (GGCL), said the media reports. This decision of oil ministry had resulted Gujarat State Petroleum Corporation (GSPC) to solely buy BG Group’s stake in GGCL, the report stated. Initially, a consortia of GSPC, Oil and Natural Gas Corp (ONGC) a

Oil Ministry blocks PSUs to buy stake in GGCL: Media Reports

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The Oil Ministry has blocked its PSUs to buy state in Gujarat government’s Gujarat Gas Company Ltd (GGCL), said the media reports. This decision of oil ministry had resulted Gujarat State Petroleum Corporation (GSPC) to solely buy BG Group’s stake in GGCL, the report stated. Initially, a consortia of GSPC, Oil and Natural Gas Corp (ONGC) a

Jump in public debt signals India’s deteriorating fiscal health

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India’s government debt continued to pile up last quarter, underscoring the fast deteriorating fiscal health of Asia’s third largest economy. The total public debt of the government (excluding liabilities that are not classified under public debt) rose by 3.6 per cent to Rs 39,00,386 crore in Q2 fiscal 2013 from Rs 37,63,264 crore in the

Cabinet grants Rs 3,150 Cr package for backward regions

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The Cabinet Committee on Economic Affairs on Thursday granted a Rs 3,150 crore package to accelerate socio-economic development in the backward regions in Bihar, Odisha, Uttar Pradesh and Madhya Pradesh. Under the the Backward Regions Grant Fund (BRGF), which aims to catalyze development in backward areas, approved Rs 1,500 crore to Bihar as Special

GST roll out likely as Centre, states inch towards consensus

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Speculation over introduction of the new tax regime - goods and services tax (GST), a value added tax system which will replace all indirect taxes levied on goods and services, has rife after central government showed willingness to consider state’s contentious issues including the dropping the controversial dispute settlement authority and comp

PM to head direct cash transfer committee

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In a bid to reduce corruption, Prime Minister Manmohan Singh on Thursday constituted a high-power National Committee on Direct Cash Transfers that will supervise the government's ambitious cash transfer plan. The National Committee on Direct Cash Transfer, which will be headed by the prime minister, will facilitate the introduction of direct cash

RBI unlikely to cut interest rates next week: survey

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Most businesses in India do not expect the Reserve of Bank of India to pull the easing trigger when it meets on October 30 as inflation remains at sticky levels, leaving less leeway for further monetary easing. A survey conducted by Royal Bank of Scotland (RBS) said on Thursday that 53 per cent of business executives did not expect the central bank to

Finmin hopeful of raising up to Rs 13,000 cr by Dec-end through divestment of PSU stake

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Showing the optimistic spirit towards the divestment target set for the current fiscal year, the Finance Ministry said it is expecting to raise Rs 12,000-13,000 crore from stake sale in the public sector undertakings (PSUs) by December-end. "We are hopeful that disinvestment will pick up and about Rs 12,000-Rs 13,000 crore will come in by Decemb

Mumbai dominates NSE’s turnover with 62% share: Report

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Mumbai has continued to dominate the equity cash market segment with its contribution towards traded turnover on stock exchanges has increased consistently this fiscal and in the previous few fiscals, said a media report. Recent data released by two leading bourses—NSE and BSE—showed that Mumbai's contribution to the total turnover has

FM eyes fiscal deficit at 5.3% this fiscal

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Hoping to stave off the threat of rating downgrade by various agencies, the finance minister P Chidambaram will soon unveil the India’s fiscal reforms blueprint which may target the fiscal deficit at 5.3 per cent of GDP for the current fiscal and 3 per cent by 2016-17, said a media report. After having faced a serious opposition in the overall p