No immediate move to bid for Cairns assets: ONGC
New Delhi: The Oil and Natural Gas Corporation on Sunday said it was interested in Scottish explorer Cairn Energy Plcs India asset but denied  any immediate plans to make a bid.
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Havells enters bathroom fittings market with Italian Co
Mumbai: The Rs 600-crore Havells group, the countrys largest electrical switchgear manufacturer, has diversified into bathroom fitting and has set up a joint venture company with Italys leading bathroom fittings company, Fratelli Frattini.
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PGCIL report spots delays in restoring power post-collapse
Kolkata: The PowerGrid Corporation, which works as the western region load despatch centre has observed that the restoration of power supply in Maharashtra was very slow due to difficulties faced in bringing up the Koyana units.
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Ministry moots amendment to merchant shipping act
New Delhi: The shipping ministry has mooted an amendment to the Merchant Shipping Act to bring down the manning levels in the coastal shipping segment along with separate dispensation for coastal cargo.
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Spencer to be RPGs holding company for retail business
Kolkata: Spencer and Co Ltd would become the holding company for RPG groups retail business. This follows the board of directors decision to amalgamate its investment arm, Spencer Industries Fund Ltd with itself subject to necessary approvals.
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All incoming mobile calls may be free
Mumbai: Mobile-to-mobile incoming calls across networks countrywide may soon be free, although users may have to pay a nominal monthly charge for the facility.
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Sunshine brings gloss back to FMCGs
Mumbai: The FMCG market saw retail sales clocking a positive growth in June after a slide which has continued for the past 12 months.
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Enroff: A diabolic twist to Dabhol tale
Mumbai: The nearly two-year-long Dabhol controversy has now taken a new twist. As Bechtel and GE, the two minority partners in the company, activate the two old arbitration cases against the union government and the government of Maharashtra on behalf of Enron of US, the state government has challenged the takeover of Dabhol Power Company by the two minority stake holders, and the appointment of managing director, before Company Law Board.
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Warburg Pincus to take 20% in Max Healthcare
Mumbai: Private equity investor Warburg Pincus is close to acquiring up to 20% stake in Max Healthcare, the Analjit Singh-promoted healthcare company.
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EXL Service to double staff, plans 4th centre
Mumbai: EXL Service, ranked the No.1 IT-enabled services company by Nasscom, is doubling its manpower by the end of the year.
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Essel Propack to exit Columbia, in talks with Colgate
Mumbai: ESSEL Propack is reviewing some of its investments in Latin and central America as currency devaluation in Venezuela and Mexico and loss of business in Columbia affect sales and profit.
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Imax scouts for partners in India to expand reach
Mumbai: IMAX Corporation, one of the world's leading entertainment technology companies, is looking to aggressively expand its market in Asia, more specifically in India and China. The company has drawn up plans to tap the potential of Imax theatres in both countries.
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FIPB asks Meturit to make open offer for SAK
New Delhi: The government has put a rider on Swiss machine tools major Meturit AG's proposal to buy out the stake of its Indian partner, SAK Industries, from their joint venture Widia (India).
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Holiday Inn property auction blocked
Mumbai: The ADR (Alternative Disputes Resolution) Arbitral Tribunal has stopped IndusInd Bank from auctioning the Pune-based Holiday Inn hotel property. The bank invited bids for the auction on August 7 to recover a decreed default of Rs 7.52 crore.
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Pact for Iran gas by Jan: Mukesh
Mumbai: Reliance Industries Ltd will sign a definitive agreement with British Petroleum and National Iranian Oil Company within six months for the much talked-about natural gas venture in Iran.
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Delay in revenue-sharing norms worries basic players
New Delhi: The competition in national long distance (NLD) services expected over the next couple of months has basic service operators (BSO) quivering in their shoes.
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Guarantee to IFCI capped at Rs 800 cr
New Delhi: The Government has decided to restrict its guarantee to IFCI to just Rs 800 crore, which is less than half of what the financial institution had sought to redeem its borrowings.
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Archies told to stop sale of stamps
New Delhi: The Ministry of Communications and Information Technology has asked the greetings card company, Archies Greetings & Gifts Ltd, to discontinue the sale of postage stamps at its outlets with immediate effect.
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Bharti replicates free-call scheme
Bangalore: Bharti Mobile Ltd, the leading cellular operator in Karnataka has announced a new plan for its subscribers in the State. The plans would be similar to the AirTel's initiatives announced in Mumbai recently for the Mumbai circle.
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New basmati brand to hit southern shelves this month
Mumbai: While the company will sell traditional premium basmati under the `Resham' brand, the broken grains will be marketed as `Chamak'.
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Himatsingka gets AGM approval for buyback
Chennai: Himatsingka Seide is a highly liquid company with cash balances in excess of Rs 62 crore. Any buyback of the shares will result in increase in earnings per share, which currently stands at Rs 19.93.
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Awards for excellence in advertising
Mumbai: Mindset E.Y.W. Advertising won the multi-media campaign of the year award at the Adex Awards-2002, for its campaign developed for the State-owned Godavari Fertilisers and Chemicals Ltd.
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Stake in cos listed abroad can be shed via ADR/GDRs
New Delhi: The Government has allowed the shareholders of Indian companies which are only listed abroad, to disinvest their holdings through either American Depository Receipts (ADRs) or Global Depository Receipts (GDRs).
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