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If you have been toying with the idea of parking some money in fixed deposits, now is the time to do it. Come August 1 and all banks – public and private – might effect a cut in interest rates on deposits. According to experts, this is because of the system witnessing rising cash inflows and a...

NEW DELHI: With telecom minister A Raja demanding that operators show proof of their commitment towards rural telephony, service providers in turn have demanded increased commitment from the government towards supporting their rural foray. Cellular operators have approached the Department of...

MUMBAI: Global consultancy firm McKinsey & Company has filed two separate petitions against Reliance Industries (RIL) and Reliance Communications (RCOM) for non-payment of dues worth Rs 27 crore. The firm was hired by RIL in 2001 to offer consultancy for the telecom business, which subsequently...

NEW DELHI: The Department of Telecom (DoT) has decided to go for a “controlled ascending” auction rather than a direct auction for allocating 3G spectrum. This method was first developed for the US Federal Com-munications Commission’s (FCC) spectrum auctions in 1994 and has been used for all...

The central Bank of India is raising close to Rs 816 crore through a fresh issue of shares. Central Bank is among the last of the remaining public sector banks that are yet to go public. The bank has seen a drastic turnaround in its fortunes after notching up huge losses during the mid-80s and...

23 Jul, 2007, 0824 hrs IST, TNN Two Weeks ago, when the Sensex had crossed 15000, ET Intelligence Group had stuck out its neck to say that the market could see further peaks. Our optimism was based on a two major factors - corporate earnings and value unlocking, to use two tired clichés. Higher...

NEW DELHI: Government on Thursday said the country's total foodgrain production may touch a record 216.13 million tons in 2006-07 season, with an estimated increase of 5.5 million tons in wheat output. Releasing the fourth advance estimate of crop production, Agriculture Secretary P K Mishra...

Once again, India (the elephant) will fail to achieve its targeted growth rate in agriculture in 2007-08. The economic advisory council to the Prime Minster in its Economic Outlook for 2007-08 identifies agriculture as a special sector needing attention, as its growth rate is not likely to cross...

UDUPI: “Despite the delay in the rains and the lesser than usual rain in March and April, the monsoon picked up later towards the end of June and so we are expecting a pretty good Kharif crop. The farmers will be a happy lot when they go for harvesting,” said S M Gadad, Joint Director and Udupi...

GURGAON: A completely new experience is being promised for commuters on the Delhi-Gurgaon highway once the proposed 32-lane toll plaza becomes operational. Slated to be the largest of its kind in India, the hi-tech plaza would assure speed, transparency and efficiency. Spokesman of D S...

NEW DELHI: The Defence Ministry has cautioned against giving clearances to FDI in special economic zones from "countries of concern and unfriendly entities", insisting that a National Security Exception Clause be introduced to regulate overseas investment. According to fresh guidelines being...

VADODARA: Alleging that the Gujarat Special Economic Zone Act and Special Economic Zone (SEZ) Act were not in the interest of the labour and farming community, Bharatiya Mazdoor Sangh (BMS) has demanded scrapping the both the Act. Talking to PTI here, BMS secretary Laxman Reddy who was here in...

NEW DELHI: Foreign exchange earning obligation of the units located in special economic zones (SEZ) may go up significantly if the finance ministry has its way. While the commerce department is unwilling to relent, the finance ministry has continued pressing for imposition of an export...

NEW DELHI: India on Friday said the latest WTO proposals on agricultural subsidies and tariffs provides for a good basis for the negotiations to resume. Commerce and Industry Minister Kamal Nath said he talked to WTO Director General Pascal Lamy and told him that this was not a text of...

NEW DELHI: India has reacted cautiously to the draft proposals on reducing subsidies and tariffs in agriculture and industrial goods floated by the World Trade Organisation (WTO) earlier this week. Commerce & industry minister Kamal Nath said that while the two papers were not ‘texts of...

DUBAI: India and the Gulf Cooperation Council are working to finalise the Free Trade Agreement by this year end which will give further fillip to bilateral trade ties. "Negotiations concerning the GCC and India FTA are expected to be finalised by the end of the year and the agreement to be...

SEOUL: South Korea and India will discuss proposed tariff cuts during another round of talks this week on a planned free trade deal, the South Korean government said on Saturday. At the four-day meeting starting in New Delhi tomorrow, the two sides will give details of their initial offers on...

BRUSSELS: The European Union's Portuguese presidency has said that the latest WTO proposals for unblocking world trade talks were a "basis for discussion" but that more work was needed on them. "There is a basis for discussion. Now we have to work again on the proposition," Portuguese Economy...

BANGALORE: Japanese auto giant Toyota is looking to make India as its global manufacturing hub for small cars. It is planning to make India an export base for mid-size cars. Sources said it is likely to announce plans of its much awaited small car within a couple of months. "With plans now...

NEW DELHI: Honda Siel Cars India today said it is calling back more than 2,000 units of its premium sedan Accord to replace faulty relay fuel-pump as part of a global campaign by its parent company in Japan. The company has asked 2,310 Accord customers in India, who purchased their cars in 2005...