The Hindu Business Line : Saturday, June 20, 2009

State Bank of Indore to be merged with SBI
Bank boards give the go-ahead for consolidation process. New Delhi, June 19 Less than a fortnight after the Finance Minister, Mr Pranab Mukherjee, endorsed the consolidation process among State-owned commercial banks, State Bank of India (SBI) ...

State Bank of Indore staff to strike work
New Delhi, June 19 The merger process of State Bank of Indore with the State Bank of India may face stiff opposition from the employees and officers of ...

A stitch in time: Mr Daya... PSU stocks hit with Nifty moving to free float
New method of index calculation from June 26. Mumbai, June 19 With the date of Nifty moving to a free-float market cap index nearing, stocks that will lose their weightage in the index have seen sharp falls in share prices in the past few ...

‘Associates’ response matters more than size’
Mumbai, June 19 The merger of associate banks with State Bank of India will depend more on the response of the leadership of the associate concerned than its size, said Mr O. P. Bhatt, ...

Base price may be doubled for 3G spectrum
Final decision next week by the Cabinet. New Delhi, June 19 In a significant softening of its stance, the Department of Telecom is all set to toe the Finance Ministry’s line on doubling the base price for third generation (3G) mobile ...

Paramount to buy 10 Airbus A-321
Airline to launch international operations. New Delhi, June 17 The Chennai-based Paramount Airways has signed a Memorandum of Understanding with the European aircraft manufacturer, Airbus Industrie, to purchase 10 Airbus A-321 aircraft, with the ...

Forego salary, perks for July, AI executives told
SETTING EXAMPLE. Mumbai, June 19 Cash-strapped national carrier Air India has asked more than 150 of its senior executives to forego their salary and incentives for ...

Deficient rainfall delays kharif crops sowing
Area under oilseeds, pulses down; paddy coverage up. With the southwest monsoon playing truant so far, sowing of kharif crops is yet to ...

CPA Global’s India arm to handle legal work of Rio Tinto
20% cost savings for miner. New Delhi, June 19 The UK-based mining company Rio Tinto has entered into a legal services outsourcing agreement with CPA Global, which is projected to save the company up to 20 per cent annually in legal ...

Households continue to feel the inflation pinch
Prices of essential items still show double digit rise. New Delhi, June 19 Headline inflation may have turned negative, but households continue to feel ...

Govt looking at proposal to divest 10% in BHEL
New Delhi, June 19 The Government is considering the proposal to divest 10 per cent stake in Bharat Heavy Electricals Ltd, the Minister for Heavy Industries and Public Enterprises, Mr Vilasrao Deshmukh said on Friday in response to a ...

3G spectrum: High base price may keep out new, foreign players
New Delhi, June 19 A high base price for third generation spectrum will help the Government keep a check on its fiscal deficit but could keep out new and foreign players from the bidding process, according to ...

Hotel stocks decline as overall occupancy level falls
Hopes of improvement after lean season of July to October. Kolkata, June 19 Hotel stocks have been witnessing a negative trend of late on fundamental grounds. On Friday, however, the hotel counters recovered due to ...

Tata Steel hikes prices by 7%
Good demand from auto and realty sectors. Mumbai, July 19 Tata Steel has raised product prices by Rs 500 to Rs 750 a tonne for the second time in the last two months on the back of improved domestic consumption and signs of global ...

Scientists hope to bring Omega 3 back into food chain
RESTORING BALANCE. Pune, June 19 Scientists at the Pune-based Interactive Research School for Health Affairs (IRSHA) have identified and isolated the gene that produces Omega 3 in flaxseed, one of the richest natural sources of the fatty acid, ...

Give salaried a tax break
Even when the Interim Budget was presented in February 2009, there was expectation of relief on the personal tax front. But prudence prevailed and the temptation to go in for populist measures was given up. The time has now come ...

FMCG industry set for 20-30% growth on increased rural demand
Kolkata/Ahmedabad, June 19 The FMCG industry is set to grow 20-30 per cent in 2009-10, up from 10-20 per cent in 2008-09. The growth would be driven by the launch of new products and increasing rural consumption, according to ...

Central India may get rains from June 25
Thiruvananthapuram, June 19 India Meteorological Department (IMD) has said that the ongoing activity in the Bay of Bengal may not be sufficient to ‘push’ monsoon into central India for at least another ...

Markets this week (Latest Audio:English/Tamil)
Profit-taking in heavy-weights and hammering of Reliance Industries dragged the indices down on Monday. The Sensex finished lower at 14,875 down 362 points while the Nifty lost 99 points to close ...