NATIONAL Karnataka eyes $ 6 billion IT exports Karnataka, India's largest software exporting State, is targeting software and services export worth $ 6 billion in 2004-05 riding on the IT and ITeS growth besides aiming to add an additional 100,000 professionals in the next two years.
TRAI offers revenue share model for private FM Radio Broadcast and telecom regulator TRAI today (Aug 11, 2004) recommended a revenue share model with a one-time entry fee for the new FM radio broadcasting licences to be issued to private players in the second phase.
RBI clamps down on fictitious foreign Companies The Reserve Bank of India (RBI) today (Aug 11, 2004) clamped down on foreign entities, which are cheating people by promising huge sums of money through lotteries and financial assistance to Indian entities.
'There will be no 'raid-raj', only recovery of arrears' Dismissing fears of a "raid-raj", Finance Minister P Chidambaram today (Aug 11, 2004) said taxmen would go all out after evaders for recovering tax arrears, amounting to Rs 87,000 crore, and ruled out any amnesty scheme to tap black money.
Sensex turns bearish, plunges by whopping 76 points Led by petro-chem giant, RIL, share prices suffered a sharp setback sending the sensex down by a whopping 76.89 points to close at 5175.16 at the Bombay Stock Exchange (BSE) today (Aug 11, 2004) on heavy selling by operators following soaring of international crude oil prices amidst expectation of further rise in inflation.
Indian Biotech sector to cross $ one bn this fiscal India's biotechnology industry is expected to grow over 40 per cent this fiscal to touch revenues of USD one billion and the sector witness a five fold growth at USD five billion by 2010, The Association of Biotech Led Enterprises (ABLE) said today (Aug 11, 2004).
FM expects inflation to 'settle down' by September Ruling out "panic or knee-jerk" reaction, Finance Minister P Chidambaram today (Aug 11, 2004) said that the Government would look at various options on fiscal side and the Reserve Bank on the monetary side to tackle inflation, which he expects would "settle down" by September.
Inflation may shoot up to 7.9% by Aug end: Lynch Inflation is expected to remain above 7.0 per cent and shoot up to 7.9 per cent in third week of August, investment banker DSP Merrill Lynch has warned.
Hike professional tax on IT sector employees: Premji Information technology czar Azim Premji today (Aug 11, 2004) urged the Karnataka Government to raise professional tax levied on employees in the sector and review the move to hike the tax on IT products and services.
INTERNATIONAL Aviva to raise headcount by over 1000 in India Even as the controversy regarding outsourcing is yet to die down, the world's seventh largest life insurer Aviva Plc today (Aug 11, 2004) said it will recruit 1,100 more people in India by this December for its business processing outsourcing (BPO) to take the total headcount to 3,800.
Indo-Pak talks on normalisation of trade ties begins Trade officials of India and Pakistan today (Aug 11, 2004) began two-day talks to discuss improvement of economic and commercial cooperation under the Composite Dialogue process.
