News & Events
| Tax holiday deadline extended for CWG hotels' project The tourism ministry today asked the finance ministry to extend the benefits of the five-year tax holiday for under construction hotels in and around Delhi to July 31, 2010, instead of the earlier deadline of March 31.According to sources, around 25 hotels would benefit from this move and as a consequence the government would have access to 2,000 more rooms for the Commonwealth Games. 03 Dec 2010 00:00:00 GMT Market finds NMDC shares too pricey NMDC's share sale received bids for 17% of the offer on day 1 as investors baulked at the steep valuation which may force the government to rethink its pricing strategy for upcoming issues next year if it has to meet the fund-raising target. The bids on Wednesday, mostly from the government-owned LIC and state-run banks such as Bank of Baroda, were at the bottom end of the Rs 300-350 range set for bids. 03 Nov 2010 00:00:00 GMT FDI in infotech industry slips to eighth place The country's computer hardware and software industry, which was at the fifth position till last fiscal in terms of foreign direct investment (FDI), has dropped to the eight rank, with a 58.5% drop in FDI in the current financial year. According to figures from the department of industrial policy and promotion (DIPP), FDI flow into the sector stood at Rs 2,763 crore from April to November in 2009-2010 compared to Rs 6,670 crore in the same period in fiscal 2008-09 and Rs 4,217 crore in 2007-08. The country's computer hardware and software industry, which was at the fifth position till last fiscal in terms of foreign direct investment (FDI), has dropped to the eight rank, with a 58.5% drop in FDI in the current financial year. 03 Apr 2010 00:00:00 GMT DLF changes tack in Mumbai realty market In a move that could add 5-million sq ft to Mumbai's high-end residential market, the country's largest developer, DLF, has decided to change the end use of its Lower Parel property. DLF had acquired the defunct mill land in Lower Parel in an auction conducted by state-owned National Textile Corporation in 2005. It had bid Rs 702 crore for a 17.5 acre plot ? a record price at that point ? while stepping into the Mumbai market. But while buyers of some of the other plots in the auction have already completed their construction. 13 Mar 2010 00:00:00 GMT Industry grows 16.7% in Jan Industrial growth is going great guns, showing a strong upturn in the economy. Factory output rose 16.7% in January 2010 from the same period last year. However, this also increased the apprehension that RBI may resort to strong monetary measures like interest rate hike to contain inflation, which is hovering around 8%. Growth in January is slower than 17.6% figure achieved in December 2009. 13 Mar 2010 00:00:00 GMT Vishal Retail lenders okay restructuring plans In a move that could add 5-million sq ft to Mumbai's high-end residential market, the country's largest developer, DLF, has decided to change the end use of its Lower Parel property. DLF had acquired the defunct mill land in Lower Parel in an auction conducted by state-owned National Textile Corporation in 2005. It had bid Rs 702 crore for a 17.5 acre plot ? a record price at that point ? while stepping into the Mumbai market. But while buyers of some of the other plots in the auction have already completed their construction, DLF has chosen to wait and watch. 13 Mar 2010 00:00:00 GMT DGCA refuses to intervene in fixing agent commission The aviation industry regulator, Directorate General of Civil Aviation (DGCA), has stayed away from fixing any agent commission and has said airlines should decide it in consultation with ticket-selling agents. ?As per rules, DGCA can not lay down quantum of commission by airlines to agents. It is entirely up to the airlines to take a decision in this regard in consultation with agents,? an official statement said. 13 Mar 2010 00:00:00 GMT Excuse me, I can't roll back oil hike: Pranab Mukherjee Finance minister Pranab Mukherjee on Friday rejected opposition members demand to roll back the increase in duties on crude oil and automotive fuel and the attendant increase in price of petrol and diesel. ?I would love to respond to the demands (of the opposition members) but my financial condition does not permit me to do so (roll back the duty). Please excuse me. Therefore, I am unable to do so,? he said replying to a two-day general discussion on the budget for 2010-11. 13 Mar 2010 00:00:00 GMT |