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Accepting a major demand of the cash-strapped aviation industry, the government on Tuesday said it would soon launch the process to allow foreign airlines 49 per cent stake in Indian carriers. A meeting between Finance Minister Pranab Mukherjee and Civil Aviation Minister Ajit Singh also...

Anil Ambani Group company Reliance Big Entertainment said on Monday it will acquire 50 per cent stake in UK-based gaming firm Codemasters. Reliance Big Entertainment has agreed to acquire 50 per cent shareholding in Codemasters, the company said in a statement. The company, however, did not...

Travel agents in India on Monday demanded of 16 airlines that they reinstate commission following a Directorate General of Civil Aviation (DGCA) order to restore the system of paying travel agents a commission, a senior industry official said. "We are going to approach all 16 airlines including...

Seeking to coerce India to join long- talked gas pipeline, Pakistan said on Thursday it will guarantee safety of the Iran-Pakistan-India pipeline and may give New Delhi an equity stake in the section passing through its territory as additional surety of safe delivery of the fuel. With New Delhi...

Private equity firm, ICICI Venture, on Thursday said that it plans to invest Rs 120 crore (Rs 1.2 billion) in Star Health and Allied Insurance Company, marking the first private equity deal in the Indian health insurance sector. For ICICI Venture, a subsidiary of ICICI Bank this would be the...

Essar Shipping Ports & Logistics on Thursday said Ravi Ruia, who is also the Vice-Chairman of Essar Group, has resigned from the company's board with immediate effect due to other commitments. "The company has received a letter dated March 31, from Ravi Ruia tendering his resignation from the...

Nirma Ltd, facing opposition from local farmers for its upcoming cement plant in Mahuva taluka of Bhanvanagar, has proposed before the Gujarat high court that it was ready to release 46 hectares of land to reach an amicable solution to the ongoing conflict. The proposal was made by the lawyers...

370)this.width=370" alt="" /> Owning fastest wheels is dream of every car lover. How actually fast are the meanest machines? Get ready to know about the hottest wheels on Planet Earth! Rank 10: Porsche Carrera GT Porsche Carrera GT offers maximum speed of 205 mph and can zoom from 0 to 60 mph...

The department of telecommunication has expressed reservation about going the optic fibre cable route, which suggested by a government panel for connecting 2,50,000 villages panchayats through high speed broadband services. According to minutes of a meeting held to discuss the panel...

Bowing to Opposition pressure, Delhi government on Monday withdrew a four per cent value added tax on cooking gas giving a Rs 12-13 relief to consumers though it did not roll back the withdrawal of Rs 40 subsidy for LPG cylinders. The government also withdrew the five per cent VAT on compressed...

Japan on Monday committed 215 billion Yen (Rs 10,535 crore) to six infrastructure projects in India including Phase II of the Delhi Metro Rail Project. An agreement to this effect was signed between Finance Ministry officials and the Japanese Ambassador to India Hideaki Domichi. The committed...

The government will borrow Rs 2.87 lakh crore (Rs 2.87 trillion) from the markets in the first half of the next fiscal, which is about 63 per cent of the total gross borrowing requirement for 2010-11. The borrowing in the first half of the next fiscal will be less front-loaded (borrowing in...

India's crude oil imports jumped up 13.2 per cent in February even though domestic fuel demand dropped marginally, according to data released by the oil ministry. Domestic fuel sales at 11.39 million tons in February were 0.2 per cent lower than 11.41 million tons of petroleum products...

The Videocon Group on Friday announced its foray into the solar energy sector through an equal joint venture with the Belgium-based global renewable energy developer Enfinity and has set an aggressive target of generating 2,000 mw in a couple of years. "The 50:50 joint venture between the...

British Petroleum, one of the world's largest energy and petrochemical companies, plans to expand its India operation by setting up a 1 million tonne petrochemical plant for Rs 3,500 crore. The company is already in talks with Indian oil refiners to buy paraxylene which is developed from...

Priyanka Chopra and Arjun Rampal [ joined an elite club of winners on Friday after being presented with the National Awards at a ceremony in New Delhi which also saw veteran cameraman V K Murthy receiving the Dada Saheb Phalke amid a standing ovation from the audience. The award for best...

India is likely to witness an over 8 per cent economic growth in the fiscal 2010-11, driven by good investment and consumption demand, says a report by Dun & Bradstreet India , a global business information provider. "We expect GDP growth to be around 8.3 per cent during FY'11, backed by strong...

Foreign companies, except those already present in India , have stayed away from the auction of third-generation mobile spectrum, or 3G, though two new ones are keen on broadband wireless access.Not one new foreign company has applied for 3G. The last day for showing interest in bidding for 3G...

The base price of $225 million is still a dampener for prospective bidders who have picked up the tender document for bidding for the franchises of two new teams for the fourth season of the Indian Premier League . "Not more than six investors are expected to place their bids for the new...

In a blog posted on March 15, 2010, Bharatiya Janata Party leader and former Deputy Prime Minister L K Advani wrote that the Indian government is duty bound to share with the people the outcome of its negotiations on 'dirty money'. He urged that the UPA government publish a White Paper on this...