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ExpressIndia.com - Business News
Stage set for Sun to hike Taro stake to 48%
With the Supreme Court of Israel ruling in favour of Sun Pharma in the Taro case, the Mumbai-based pharma giant can make a move to hike stake in the Israeli company by buying out the promoters' share. This will take Sun's total stake in Taro to 48% from the current 36%. Non-food credit growth slips below 20% in Aug The growth in non-food credit or the amount of money that banks lend to corporates and individuals, slipped little below 20% for the fortnight ended August 27, 2010. Scan the specifics Portronics Scanny is a portable, battery-powered scanner that can be used to scan pages from books and most flat surfaces without the need for a personal computer. Making the most of IFRS International Financial Reporting Standards is fast becoming the de facto accounting standard across the world. The adoption of IFRS would result in one set of high-quality, globally accepted accounting standards that would bring uniformity in reporting and make the world one common market place. Dow India draws curtains on Pune project It is curtains for Dow India's Rs 400-crore global R&D facility in Pune. Dow India on Tuesday said it is calling off its project in Pune and returning the land to the Maharashtra Industrial Development Corporation. FE Editorial : Pay them right RBI governor Duvvuri Subbarao's pitch for higher compensation for public sector bank employees-to establish a level-playing field with private sector banks-comes at a time when state-run banks are looking at another round of attrition when the central bank rolls out new licences. Four new pvt bank licences likely in first lot While more than a dozen corporates and non-banking finance companies are keen on making a banking debut, the Reserve Bank of India may start off by handing out just four new banking licences, and that too, not all at once. Although the central bank will refer the applications of candidates to an external group, some key criteria for eligibility appear to be in place. With the central bank preferring to allow "well-established corporate houses with no exposure to sensitive sectors like real estate and a diversified ownership," it would appear that NBFCs including L&T Finance, SKS Microfinance and Shriram Group stand the best chance of making it to the first list. Monetary illusions Over the past few years the reputations of the rich world's central bankers have fluctuated wildly. When the financial crisis struck, they were blamed for allowing the housing and credit bubbles to build, and for failing to foresee the bust. US lines up new tax sops, spendings US President Barack Obama will push billions of dollars in new business tax incentives and spending on big construction projects on Wednesday, as he tries to convince a balky Congress to pass measures intended to spur the economy and create jobs. Two held for German Bakery blast Seven months after the bomb blast at Pune's German Bakery, the Maharashtra Anti-Terrorism Squad on Wednesday claimed that it had achieved a breakthrough in the probe and arrested 29-year-old Mirza Himayat Baig for the attack which killed 17 people. More ...
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