ACCOUNTING STANDARDS
`Converge fully with global financial reporting standards'
Listed public companies may get to raise foreign capital at a much lower cost in the coming months, with the Indian accountancy body ICAI likely to mandate that such entities should entirely adopt international financial reporting standards ... More

OVERSEAS BORROWINGS
Orchid Chem raises $200 m through FCCBs
Orchid Chemicals and Pharmaceuticals today announced that it has raised $200 million (Rs 900 crore) through an issue of zero coupon foreign currency convertible bonds. These bonds convert into shares at a premium of Rs 348.34, which is 30 per ... More

NEW BUSINESS
IVRCL bags Rs 516-cr orders
IVRCL Infrastructures & Projects Ltd has bagged a slew of projects improving the order book position of the company by Rs 516.09 crore. It has won major contracts worth Rs 411.01 crores in the water supply and lift irrigation .. More

OUTSOURCING
`India can attract 25% of global engg process outsourcing'
As the International Engineering and Technology Fair kicked off on Tuesday, the Union Minister of Commerce and Industry, Mr Kamal Nath, said that country had the potential to attract 25 per cent of the $70 billion global engineering process ... More

COURTS/LEGAL ISSUES
Tax should not be collected without assessment order: HC
The sales tax authorities in Tamil Nadu were not empowered to make any spot collection of taxes due from traders, the Madras High Court has ruled. Any such collection without following formalities prescribed under the TN General Sales Tax Act, ... More

MANAGEMENT
Management fest from today
Aloysius Institute of Business Administration (AIBA), a unit of St Aloysius College in Mangalore, will conduct a national-level management fest called Verve 2007 on February 14-15. Dr P.G. Aquinas, Professor and Dean of the institute, told ... More

MERGERS & ACQUISITIONS
Minda group scouts for acquisitions abroad
Looking at merging synergetic businesses into flagship More

`Hindalco, Vodafone deals reflect resilience of economy'
The Union Minister for Commerce and Industry, Mr Kamal Nath, hassaid that Hindalco's acquisition of Canadian aluminium major Novelis and the entry of Vodafone into India as a major player in the telecom sector reflect the growing global ... More

RSM merger to strengthen PwC's focus on combined practices
The merger of RSM's tax and audit practices with those of PricewaterhouseCoopers (PwC) would help strengthen the international focus of the combined practices, the Chairman and CEO of PwC in India, Mr Rathin Datta, has said. RSM ... More

Lanco Infra, Jindal Steel buy Globeleq interest in Sasan
Uncertainty about who would develop the ultra project resolved More

Actavis acquires bulk drugs unit of Sanmar Speciality
Actavis, the global pharma major, today announced that it has taken over the bulk drugs division of Chennai-based Sanmar Speciality Chemicals Ltd. Actavis officials refused to disclose the consideration. This is Actavis's second acquisition ... More

Thomson acquires controlling stake in Paprikaas Animation
Thomson, through its Technicolor Content Services business, has acquired a controlling stake (over 51 per cent) in Bangalore-based Paprikaas Animation Studios, an animation and game content provider. Mr Thierry Pasquet, Vice-President, ... More

NEW PROJECTS
NTPC set to award contracts for Simhadri expansion, Ennore plant
Tying up plans for Lanka power venture More

Gulf Oil begins mining contract works for Singareni
Gulf Oil Corporation Ltd has announced it has commenced work on some of the mining projects for the state-owned Singareni Collieries, Northern Coal Fields and National Mineral Development Corporation. Providing an update on the progress of some ... More

POSCO land acquisition delayed
South Korean steelmaker POSCO, which is worried over the delay in getting land for its 12 million-tonne capacity steel plant project in Orissa's Jagatsinghpur district, said on Tuesday that it was hopeful of completing the land acquisition ... More

The people's choice
On Monday the Trinamul Congress leader and ace crowd-puller, Ms Mamata Banerjee, urged the West Bengal Chief Minister, Mr Buddhadeb Bhattacharjee, to hold a "secret ballot" among the people of Singur to ascertain whether they were willing to give ... More

Tribal farmers protest against Jindal factory
Tribal farmers from three panchayats in S.Kota mandal in Vizianagaram district staged a protest demonstration in front of the collectorate on Tuesday against the Jindal Group's proposal to set up an aluminium factory. The two main Left parties ... More

Tata Motors 2nd trainee batch
Tata Motors has selected six trainees for an extensive six-month training to be provided by the company from the 15 ITI educated candidates from Singur villages. This is the second group of ITI educated trainees selected by the company. ... More

INTERVIEW
`Textile industry not out of the woods fully'
Gangotri Textiles MD plea to form textile city in Coimbatore-Salem belt More

DIVERSIFICATION
Goel Ganga joins hands with Singapore group for school
Goel Ganga Group, a Pune-based builder, has launched the Global Indian International School (GIIS) at Pimpri in association with Global Indian Education Foundation, Singapore. Located at Swar Ganga, a mega township project of 650 flats spread ... More

OUTLOOK
IndianOil in talks with Turkey's TAPCO
Eyes engg contracts for pipeline project More

ONGC plans to drill ultra high-tech wells in onshore assets
With a focus on enhancing the oil and gas production from its fields, Oil and Natural Gas Corporation (ONGC) has chalked out plans to drill ultra high-tech wells (horizontal and multilateral) in all its onshore assets. Mr A.K. Hazarika, Director ... More

Bajaj eyes Rs 10,000-cr turnover
Unveils 200 cc Pulsar; plans slew of launches in coming months More

Toyota studying Indian market for Prius roll out
Japanese automobile company Toyota today indicated that it would consider launching the eco-friendly car Prius in India if the current duty on completely built units (CBUs) was reduced. The current duty structure on CBUs would double the price ... More

JCB eyes agriculture, mining for growth
Targets 25-30% growth in 2007 More

DaimlerChrysler plans to drive in CL-class car
New model may be launched in April More

PEOPLE
HPCL gets new CMD
Mr Arun Balakrishnan, Director (Human Resources), Hindustan Petroleum Corporation Ltd, has been appointed as the new Chairman and Managing Director of the State-owned company. Mr Balakrishnan will take over from Mr Mahesh B. ... More