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Business & Economy
Malaysia rolls out red
carpet for Indian IT professionals
What is India News Service,
Thursday, 23 December 2004, 1300 hrs IST
Rolling out a red carpet, Malaysian Prime Minister Abdullah Ahmad Badawi, on Wednesday,
welcomed Indian knowledge workers in a big way to his country.
Making a hardsell of Malaysia to the CEOs and captains of trade and industry here, Mr Badawi, who described himself as CEO of Malaysia Inc., assured all support and safety for the Indian IT workers in his country.
Mr Badawi averred that he, along with his office, was personally and actively engaged in ensuring that knowledge workers did not face any undue difficulty or hardship in his country.
Stating that Malaysia has already in vogue the system of providing multiple-entry visa permits to Indian IT professionals, the Malaysian Premier said likewise, a representative was also located in India to process the visa applications.
ONGC mega project in State is on course:
Even though the Centre is yet to ink an MoU for the proposed Mysore and Hassan airports, AAI is set to pump in Rs 60 crore for the Mysore terminal.
ESPN told to telecast ODIs on Doordarshan: A Division Bench of the Kerala High Court today directed ESPN to telecast the India-Bangladesh one-day cricket series starting on Thursday through Doordarshan channel on a tentative revenue sharing ratio of 80:20.
Infrastructure tops agenda of Tourism Ministry:
The Ministry of Tourism has initiated a major exercise to improve tourism infrastructure in coordination with other ministries concerned.
`Law needs more teeth to take on counterfeiting':
Hindustan Lever Ltd. (HLL) loses around Rs. 1,500 crores annually owing to a rampant counterfeiting industry.
Bhakta withdraws resignation:
M L Bhakta, a founder director of the Reliance Industries (RIL), is believed to have withdrawan his resignation as director, ahead of the crucial board meeting of the flagship company, in a move seen as a boost to Mukesh Ambani involved in a bitter battle with younger brother Anil.
New product from IDBI Bank:
IDBI Bank has clocked about 30 per cent growth in credit pick-up with customer assets base close to Rs. 13,000 crores by the end of November.
IOC-IBP swap ratio approved:
The Indian Oil Corporation (IOC) today approved a share swap ratio for merging its subsidiary IBP Co with itself, an amalgamation that will help it save about Rs. 45 crores annually in overhead expenses.
Work on
to make safer credit cards: The Reserve Bank of India has set up a working group that will suggest a regulatory mechanism and measures for the usage of credit, debit and smart cards in a safe, secure and customer friendly manner.
IBP shareholders to get 100 shares of IOC:
Indian Oil Corporation has approved a share swap ratio of 125 shares of IOC for every 100 shares of IBP for merger of the two entities.
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Nayak\92s term as UTI Bank CMD extended by 5 years:
Revoking its earlier decision within a week, the UTI Bank board on Wednesday decided not to split the post of its chairman and managing director into two separate positions. The board also extended the tenure of the current CMD of the bank, PJ Nayak, by another five years.
Bhushan's galvanized steel mill on stream:
Bhushan Steel & Strips, a leading cold rolled steels manufacturer with an installed capacity of nearly one million
tonnes, has successfully commissioned the largest pre-painted galvanized steel line at
Khapoli, Maharashtra.
L&T to acquire 50% stake in Valdel Eng:
Larsen and Toubro Lted has entered into an agreement to acquire a 50 per cent stake in the carved out upstream engineering business related to oil and gas production and exploration of Bangalore-based Valdel engineers and constructors private limited.
Core sector growth dips to 5% in Nov:
Infrastructure sector growth fell by 1 per cent to 5 per cent in November 2004 as compared to the year-ago period, mainly due to the slowdown in growth of petroleum refining, electricity generation and production of finished steel.
Business papers
Business Standard
Economic Times
Business Line
Financial Express
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