India Inc to play major role in building PFB reactor
New Delhi: India Inc will be playing a major role in the construction of the Rs 2800-crore 500 MW Prototype Fast Breeder Reactor to be built at Kalpakkam.
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Cummins plans To increase sourcing of Indian services soon
New Delhi: The $ 5.5 billion US company, Cummins Inc is planning to increase its sourcing of components, generator sets, engineering, IT and IT-enabled services from India.
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Ministry okays 100 per cent FDI in oil & gas sector via auto route
New Delhi: The petroleum ministry has endorsed the NK Singh committee recommendations for allowing 100 per cent foreign direct investment through the automatic route in almost all areas of oil and gas sector.
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IndiGene to invest $10 million in Hyderabad facility
Hyderabad: US-based IndiGene Pharmaceuticals is investing $10 million in a facility in Hyderabad to develop and deliver plant derived medicines.
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Hero Group scouts for acquisition in US, Europe
New Delhi: The Hero Group is set for investments in equity, acquisitions and mergers with engineering service providers in the US and Europe to give organic growth to Hero Global Design, the company’s certified engineering service provider.
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Lafarge, Italcementi eye Idcol for Rs 200 cr
New Delhi: Cement multinationals are once again on the prowl in India. Italcementi-Zuari combine and Lafarge have evinced interest in taking over Idcol Cement, which is being privatised by the Orissa government.
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US plan for BPO ban 'restrictive': India
New Delhi: State-level laws in the US to ban outsourcing of information technology work to India would constitute a 'restrictive trade practice', India has told the US. At the recent WTO mini-ministerial meet at Tokyo, commerce minister Arun Jaitley and commerce secretary Dipak Chatterjee took up the matter with US trade representative Robert Zoellick.
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Imation to buy 30 per cent of Moser Baer's CD-Rs
New Delhi: Moser Baer India Ltd (MBIL) is expanding its presence in the US market with the acquisition of a large order for its CD-Recordables (CD-R's) from Imation Corp, a $1.07 billion company recognised as a leading developer, manufacturer and supplier of magnetic and optical removable data storage media.
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Vintage says Hallmark deal's on, names new distributor
New Delhi: Vintage Cards and Creations (Vintage), in which the $4.5-bn Hallmark Cards is eyeing a stake, has appointed a super distributor for the entire country.
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A-I plans to lease two more Airbus 310s
New Delhi: Air India (A-I) is looking to lease two more Airbus 310 aircraft, one this December and the next possibly in February '04 for a three-year period.
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Chinese coal co signs 5-yr supply deal with Adanis
Kolkata: One of the world's largest producers of coal, Shanxi Coal Import and Export Corporation of China, has anchored in India. Shanxi Corporation on Wednesday signed an agreement with the Rs 4,500-crore Adani Exports (AEL) for supply of 1-1.5m tonnes of coal in India.
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Coromandel Fert plans interim
Hyderabad: Coromandel Fertilisers Ltd (CFL) is seriously considering a proposal to reward its shareholders with an interim dividend. The CFL board is scheduled to meet on March 18 to consider the declaration of interim dividend.
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Gujarat Alkalies board meet on March 1
New Delhi: A meeting of the board of directors of Gujarat Alkalies and Chemicals Ltd has been convened on March 1, 2003 for considering a rights issue of equity shares. The company has sent a communiqué to this effect to the Bombay Stock Exchange.
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Apollo Hospitals board renews appointments of three EDs
Chennai: The board of Apollo Hospitals Enterprise Ltd has approved the renewal of appointment of three of its Executive Directors. At its meeting held on January 28, the board approved a resolution to this effect.
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Crisil downgrades Sterlite NCD programmes
Mumbai: Crisil on Thursday downgraded the outstanding long-term rating of Sterlite Industries (India) Ltd, covering non-convertible debenture (NCD) programmes totalling Rs 400 crore, from the earlier `AA' to `AA-'.
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Indian Rayon rating reaffirmed
New Delhi: ICRA has reaffirmed the highest rating of LAAA assigned to the various non-convertible debenture (NCD) programmes of Indian Rayon and Industries Ltd (IRIL), amounting to Rs 130 crore.
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CCEA nod for ONGC to buy stake in MRPL
New Delhi: The Cabinet Committee on Economic Affairs (CCEA) has approved the proposal facilitating the acquisition of entire shareholding of Indian Rayon & Industries in Mangalore Refinery & Petrochemicals Ltd (MRPL) by the Oil and Natural Gas Corporation (ONGC).
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Siemens to acquire 100 pc stake in building arm
Mumbai: Siemens Ltd has decided to acquire 100 per cent stake in Siemens Buildings Technologies Pvt. Ltd (SBT), the building technology arm of Siemens AG in India, from Siemens Building Technologies AG, Switzerland, for Rs 4.79 crore.
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Alfa Laval to set up total alcohol plant in Vietnam
Pune: The Pune-based Alfa Laval Ltd, the process engineering company is setting up a total alcohol plant in Vietnam. The company had closed the year 2002 with an export turnover of Rs 85 crore. It targets Rs 100-crore turnover from exports.
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DGFT serves notice on Metal Box management
New Delhi: The Directorate General of Foreign Trade (DGFT) has served a show cause notice on the management of Metal Box India Ltd (MBIL) under Section 11 of the Foreign Trade (Development & Regulation) Act 1992.
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FDI limit may go up for DTH services
New Delhi: The Government is considering further liberalisation of the broadcasting sector by considering raising the foreign direct investment (FDI) cap in direct-to-home (DTH) broadcasting.
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