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Thursday, October 21, 2004

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Aviation FDI cap hiked to 49 pc — Foreign airlines stay barred from holding stake
IN a move aimed at showing India's keenness to attract greater foreign direct investment, the Union Cabinet, on Wednesday, hiked the FDI cap in domestic airlines to 49 per cent from the existing 40 per cent. However, foreign airlines would not ... More

Fine with us, says Left
THE Left parties on Wednesday said that they had no objection to the Government's decision to go ahead with hiking the foreign direct investment cap in aviation. "We have no objection to the proposal since control of the domestic airlines ... More

Satyam beats own guidance on revenue; Q2 net up 28%
BEATING its own guidance of Rs 810 crore of software revenues for the second quarter of current fiscal ended September 30, Satyam Computer Services Ltd has announced revenues of Rs 848.1 crore, which is 9.93 per cent up sequentially. It is up ... More

Bajaj Auto net profit dips in Q2 at Rs 180 cr
BAJAJ Auto Ltd (BAL) on Wednesday reported a lower profit after a tax of Rs 179.9 crore for the second quarter of 2004-05 as against the previous corresponding Rs 193.4 crore. The company's sales and income from operations amounted to Rs 1,448.2 ... More

Kingfisher Airlines' launch put off to April 2005
THE launch of what could have been the country's second low-cost airline - Kingfisher Airlines - has been delayed. The Chairman of the UB group, Mr Vijay Mallya, told Business Line on Wednesday that the launch of the low-cost ... More

RBI to reveal penalties against banks
IN a move that will help protect investors' and depositors' interest, the Reserve Bank of India has decided to disclose the details of penalty and other actions taken by it against banks. The new directive, which comes into effect from ... More

Cotton Corpn told to buy more to check price fall
THE Centre has directed the Cotton Corporation of India Ltd (CCI) to undertake unlimited procurement of cotton to prevent market prices from plunging below the official Minimum Support Prices (MSP) declared for 2004-05. The decision follows a ... More

IA to get Rs 138 cr to clear dues
NEW DELHI: The Cabinet Committee on Economic Affairs (CCEA) on Wednesday gave its `in principle' approval for a one-time non-Plan budgetary assistance of about Rs 138.33 crore to Indian Airlines to clear dues to several creditors, ... More

Govt plans to appoint advisor for phase II of FM privatisation
THE Information and Broadcasting Ministry is planning to appoint an investment banker or a financial advisor to oversee the second phase of FM radio privatisation. The Ministry has decided to ask Broadcast Engineering Consultants India Ltd ... More

Oriental Bank yet to get a hang of GTB salary maze
THE employees of the Oriental Bank of Commerce (OBC), who are agitating over the high salaries paid to the erstwhile Global Trust Bank (GTB) staff, have a bunch of companions from an unexpected quarter. The OBC top management too is spending ... More

Sustained selling pressure drives Sensex down
AFTER witnessing a strong rally on Tuesday, the stock market indices took a beating on the third trading day of the week. The steep fall in the indices was largely due to the strong wave of selling pressure that built up steam starting ... More




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