Karnataka government cancels a Biocon drug license
Bangalore: The Karnataka government has cancelled Biocon India's licence to manufacture 'Methylcobalamin,' a drug used in treatment of neurological problems, citing violation of import norms.

The minister for health and family welfare, R Ashok said Biocon had violated rules by importing the raw material used in the drug from China 'under a different name.' He said that the Government had written to the Centre and the Drugs Controller, who would be visiting the company this month, will conduct an inquiry. On the basis of the inquiry report, stringent measures would be taken against the company as it concerns public health, the Minister said.
Back to News Review index page  

India, US in pact for FutureGen project
New Delhi: India and the US have entered into an agreement for New Delhi's participation in the prestigious $950 million FutureGen project, which aims to produce electricity from coal without any carbon emission.

"India will contribute $10 million in this project," power minister, Sushilkumar Shinde said after the signing in ceremony.

The FutureGen project is a public-private initiative to build and operate the world's first coal-based power plant in the US that removes and captures carbon dioxide while it produces electricity and hydrogen. The project, expected to be commissioned by 2012, could also see participation by Indian companies.

As per the protocol, participation in the project would entitle India to full membership on the FutureGen Government Steering Committee to provide guidance on the project, relating to scope, design, objectives, testing and evaluation.
Back to News Review index page  

BBC looks at joint ventures for Hindi, Urdu channels in India
Colombo: The British Broadcasting Corporation (BBC) is looking for joint ventures for its Hindi and Urdu news channels in India. The corporation is launching a 24-hour news channel in Arabic next year and is looking at TV services in Hindi and Urdu." Michel Lobelle, business development manager, BBC World Services said "These will be joint ventures here."

The expansion of television saw a slight dip in radio listenership in India but it is on the rise again with more people tuning into radios, he said. The BBC recently announced its re-broadcasting deal with Sri Lanka's state-run SLBC radio.
Back to News Review index page  

ADB to provide $20mn assistance for judicial reforms in India
New Delhi: The Asian Development Bank (ADB) will provide a $20 million technical assistance (TA) loan to India for carrying out reforms in the judicial system.

John Samy, ADB deputy director general in charge of South Asia said the assistance was small, but very significant to improving administration of justice in India.

The assistance by ADB would strengthen the legal framework and step up the system's efficiency, which is crucial to promote economic growth.

India has one of the highest number of pending cases in the world due to lack of adequate infrastructure, which often delays justice delivery.
Back to News Review index page  

HC says striking SBI employees cannot interfere in bank's working
New Delhi: As the State Bank of India (SBI) employees went on an indefinite strike across the country from April 3, the Delhi High Court in an interim order restrained them from interfering in the working of the bank or causing any type of inconvenience to the public till April 5.

A Division Bench of Justice M K Sharma and Justice Reva Khetrapal also restricted the employees from protesting and sloganeering within 500 metres of any branch of the bank.
Back to News Review index page  

Infy upbeat over move to Hyderabad
Bangalore: T V Mohandas Pai Infosys chief financial officer, is upbeat over the new center being set up by Infosys in Hyderabad. Pai made no attempt to hide either his admiration for the Andhra Pradesh capital or contempt for this Karnataka capital.

"It's good that Andhra Pradesh is doing what its doing. Because frankly, Hyderabad has possibly the best infrastructure for IT in India today," he said after an industry meet organised by the Andhra Pradesh government.

In contrast, he chose to paint a not-so-rosy picture for Bangalore, known as India's silicon valley.
Back to News Review index page