Economy
& Business
Fast track courts
likely for business-related cases
What
is India News Service, Tuesday, September 08, 2004, 2000 hrs IST
Stung by comments overseas on the 'collapse' of the judicial system in India, and egged on by the fast pace of globalisation of the Indian economy, the Law
Commission has recommended setting up of fast-track "commercial divisions" that can dispose of high-value commercial disputes within two years.
FinMin
studies PSU revival plan: Pending formation of the Board for
Reconstruction of Public Sector Enterprises, Heavy Industry and
Public Enterprises Ministry has sought the support from the Finance
Ministry to revive 21 loss-making companies at a cost of Rs 5,000
crore.
India
To Lose BPO Market Share By 2007: Lack of clear strategy and
competition from countries like China will see India losing its
market share in the BPO business from the current 80 per cent to 55
per cent by 2007, an international research firm has said.
Spice
Cell finally gets Nepal's permission: Nepal
Telecommunications Authority (NTA), a regulatory body, has granted
permission to Spice Cell Nepal (P) Ltd, a
Nepal-India joint venture,
to
start a
mobile phone service. It will be the first private sector company to
launch mobile services in the country.
Vanishing
companies may be fined:
The government is planning to
impose different level of penalties and take all necessary steps to
protect the rights of small investors.
97
pc customers hate call centres: A
survey reveals customers despise having to dial a call centre
number.
ILO
decries poor working conditions for Indian women:
Asian employers, especially Indian employers, continue to
discriminate against their women employees while providing benefits
and promotion opportunities in comparison to men, revealed a study
conducted by the International Labour Organisation in 61 countries.
BSNL
subscribers to get broadband TV over Internet: An Israeli company has signed a licensing agreement with an Indian firm to provide broadband commercial television over Internet for Bharat Sanchar Nigam Limited subscribers.
ESPN
moves court; Zee files caveat to keep litigation at bay: ESPN-Star Sports today filed a petition in the Bombay High Court challenging the decision of the Board of Control for Cricket in India (BCCI) to award to Zee Telefilms the telecast rights for international cricket played in the country over the next four years.
Mohali software makes US ships sail:
A Mohali-based IT firm, Sebiz Infotech, has bagged prestigious orders of developing and managing the complete IT infrastructure of two US-based passenger ships — Cats (Canada-America Transport System) Fast Ferry and Vineyard Fast Ferry.
Govt against ONCG's plans to enter fuel retailing:
Government may nix oil and natural gas Corp's (ONGC) plans to enter auto fuel retailing by asking it to collaborate with Hindustan Petroleum Corp Ltd (HPCL), ONGC's partner in MRPL, for its retail foray.
Indian
oil giant to buy stake in Lankan company: Sri Lanka plans to sell a $50 million stake in Ceylon Petroleum Corp to Bharat Petroleum Corp after China Petroleum and Chemical Corp withdrew its bid,
Lankan Finance Minister Sarath Amunugama said.
Left unions contest ILO report:
The International Labour Organisation's (ILO) report on global economic security, released on September 1, says India and China are the two developing nations where domestic economic security is higher compared to others.
Corporate
Mukesh
is telecom man of year:
Reliance Infocomm
Chairman and Managing Director Mukesh Ambani has been chosen the
“Telecom Man of the Year 2004” while public sector Bharat
Sanchar Nigam Limited has been adjudged the top telecom service
provider by Voice and Data magazine.
Philips
to merge its arms: The
boards of Philips India Ltd, Philips Medical Systems (India) Pvt Ltd
and Philips Software Centre Pvt Ltd have approved the merger of
these three entities into a single company, Philips Electronics
India Ltd.
Stanchart
eyes 1-lakh Manhattan crowd:
Standard Chartered Bank has come up with a new card
product aimed at the upwardly mobile, 25 to 35-year-olds with a
monthly income of Rs 20,000 or more.
26
cycle firms for Cologne fair: Over
26 Indian cycle and cycle component manufacturers will participate
in four day International cycle fair to in Cologne, Germany, from
September 16-19.
M&M
eyes acquisitions: Mahindra and Mahindra is planning to acquire
two auto component manufacturers in the country by this year-end and
increase auto parts sourcing from China.
Vanishing
cos may be fined:
The government is planning to
impose different level of penalties and take all necessary steps to
protect the rights of small investors.
Essential
items get excise exemption: The government allowed the removal of essential items such as butter, cheese, processed foods, aerated water and petrochem products from the factory of production to warehouse, without the payment of excise duty.
A-I discount for elderly:
Air-India will give a discount of up to 25 per cent for senior citizens aged 60 and above from September 16 for the USA and Europe. The discount will be available till March 31 and is on economy class fares only.
Cell
operators walk out of Trai's open house: Amid furore, private cellular operators on Monday staged a walk-out from telecom regulator Trai's open house on the crucial spectrum allocation issue saying they are not being allowed to present facts on certain issues.
Union Bank plans global operations:
Union Bank of India is planning to commence foreign operations by opening six branches at Doha, Qatar, Dubai, New
York and Sydney.
New TB drug molecule discovered:
India's acknowledged strength in pharmaceuticals manufacturing received a further nudge with
its scientists discovering a new drug molecule for treating tuberculosis. The new molecule, Sudoterb, has been developed jointly by the Council for Scientific and Industrial Research (CSIR) laboratories and Lupin Industries after three years of research.
Union Bank plans global operations:
Union Bank of India is planning to commence foreign operations by opening six branches at Doha, Qatar, Dubai, New
York and Sydney.
Overall:
Jaipal Reddy announced FM bonanza: The broadcasting
minister said India would have 400 private FM radion stations.
Cell operators stormed out:
They said the regulatory authority wasn't giving them a chance to
air their grievances at its open house.
India broke through in TB research: Suboterb is a new
molecule that could treat TB.
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