NATIONAL S&P ups rating of Reliance, IOC, SBI, ICICI Bank Global rating agency Standard & Poor's today (Feb 2, 2005) raised the foreign currency ratings of Reliance Industries, IOC, SBI, ICICI Bank, NTPC and other corporates that have raised foreign debts.
RBI directs banks to review internal audit system Pointing to some deficiencies in risk-based internal audit (RBIA) in banking entities, Reserve Bank of India (RBI) has asked banks to expeditiously review their audit system and ensure compliance with guidelines at an early date.
Sierra Atlantic acquires Sceptre Database Sierra Atlantic, a leader in off-shoring enterprise applications, today (Feb 2, 2005) announced the acquisition of Sceptre Database Consultants Inc, a leading provider of Enterprise Application outsourcing and consulting services.
Govt okays Rs 2,700 cr financial support to BSNL The Government today (Feb 2, 2005) cleared financial support worth Rs 2,700 crore for Bharat Sanchar Nigam Ltd (BSNL) to be paid in the current and next financial year.
Sensex ends lower by 22 pts in erratic movements Equities once again witnessed erratic movements after a firm start and the Sensex ended down by 22 points in scrip-specific activity despite hike in FDI cap in telecom sector to 74 per cent and upgradation of India's long-term foreign currency rating.
India's software exports to top $ 80 bn by 2008 Software and services industry continued to play a dominant role in the overall growth of Indian economy in 2003-04, Union Minister of State for External Affairs E Ahamed said in Kochi on Wednesday (Feb 2, 2005).
Cabinet approves SAARC Limited Multilateral Accord The Union Cabinet today (Feb 2, 2005) gave its approval for the proposed SAARC (South Asian Association for Regional Co-operation) Limited Multilateral Agreement for the Avoidance of Double Taxation and Mutual Administrative Assistance in tax matters.
ITC legal experts finalising response to ordinance Tobacco major ITC Ltd is weighing legal options in the wake of Centre's move to demand Rs 450 crore from it in connection with excise evasion after arming itself through an Ordinance with power to modify past excise rules.
'India still has a long way to go in Cyber law' Even as the debate on the use of MMS and camera phone sparked off by a public school case continues to generate heat, legal experts say that India still lacks cyber laws to deal with legal and moral issues arising out of the misuse of technology by peeping toms.
Government clears 74 per cent FDI in telecom Government today (Feb 02, 2005) cleared the long discussed proposal to hike FDI cap in telecom sector to 74 per cent from the current 49 per cent, Finance Minister P Chidambaram said after Cabinet meeting.
Reliance Infocomm booked under Sex Selection Act Troubles for one of India's largest business empires Reliance Group seem to be never ending with Delhi Police booking its holding company Reliance Infocomm for alleged violation of a law on pre-natal sex determination.
BSE: Sensex surges upward during morning trading After the overnight brief pause, the sensex opened on a promising note and surged up during morning trading on the Bombay Stock Exchange (BSE) today (Feb 02, 2005) on fresh buying prompted by Monday's (Jan 31, 2005) impressive investments numbers by Foreign Institutional Investors (FIIs).
Cabinet to consider hike in FDI ceiling in telecom The contentious issue of hiking the ceiling of Foreign Direct Investment (FDI) in the telecom sector may be considered among other issues at a meeting of the Union Cabinet in New Delhi today (Feb 02, 2005).
INTERNATIONAL Foreign investors make profit in India: Kamalnath At least 77 per cent of all foreign investors in India make profit and another 8 per cent break even, Minister for Commerce and Industry Kamal Nath has said.
