New Delhi, February 08: The Enforcement Directorate has registered a money laundering case against former Union Minister Dayanidhi Maran and his brother Kalanidhi in connection with the 2G spectrum allocation case.
The case, registered on Tuesday under the Prevention of Money Laundering Act (PMLA), pertains to an alleged illegal gratification of about Rs 550 crore allegedly received by the Maran brothers in the Aircel-Maxis deal.
New Delhi, February 03: In a historic verdict, the Supreme Court on Thursday cancelled all 122 2G telecom licences issued during the tenure of former telecom minister A Raja in 2008.
An apex court bench comprising of Justices G S Singhvi and A K Ganguly held that 122 licences for 2G spectrum were granted in an “arbitrary and unconstitutional manner”.
Toronto, February 03: Union Minister Praful Patel on Thursday found himself at the centre of pay-off allegations concerning a USD 100 million Air India contract during his tenure as Civil Aviation Minister, but he rubbished the charges as “baseless and preposterous”.
A leading Canadian newspaper, Globe and the Mail, reported that an Indian-born Canadian citizen, Nazir Karigar, is to be prosecuted on charges of paying off Patel in a case in which a former Mumbai police chief also figures.
New Delhi, February 02: The Supreme Court will Thursday pronounce its judgements on the petitions seeking a direction for a probe into the alleged role of Home Minister P Chidambaram in the 2G spectrum scam and for cancellation of 122 radiowave licences granted during the tenure of A Raja as Telecom Minister.
The SC will also deliver its judgment on another plea for setting up a special investigation team (SIT) in view of the “slipshod” probe conducted by the CBI in the 2G case.
London, February 02: Facebook’s decision to become a public company is seen as a bellwether for Web 2.0 stock offerings, but what will it mean for the social networking giant’s 800 million users, and for the companies that build third-party apps for the site?
SIMILAR ARTICLES:
Facebook Timeline Looms: What You Need to Know
Spotify Adds Facebook Requirement, Angering Users
All Facebook Profiles Switch to Timeline Soon: Brace for Backlash
Facebook to Let Users Update Twitter Accounts from its Site
Google+: 5 Features and Drawbacks
Facebook Timelines: How to Get Started
New Delhi, June 14: After State Bank of India, private sector lender ICICI Bank has emerged as the second major bank to have given loans to Mukesh Ambani-led Reliance Industries in excess of the RBI norms during last fiscal.
As per RBI’s prudential credit norms, a bank can’t give loans in excess of 15 per cent of its capital funds to a single borrower, although banks can exceed this limit by 5 per cent in exceptional cases with prior approval of their boards.
New Delhi, June 14: Despite the 2G spectrum scam and several others, India’s richest man and the chairman of Reliance Industries Limited (RIL) Mukesh Ambani has taken an optimistic view of the situation saying India is fighting graft in a mature manner.
In an interview to Morgan Stanley, Mukesh Ambani said, “I do not agree that things have turned grim for India. We should not really deprecate ourselves. We have started on the journey of systemic reforms to reduce corruption.”
Baghdad, June 14: Iraq’s cabinet approved $927 million in financing for electricity generation projects on Sunday in a move by Prime Minister Nuri Al-Maliki’s government to defuse simmering public anger over chronic power outages.
Jeddah June 14: Substantial increases in wholesale and retail electricity and water demand are anticipated for every country in the Middle East region, Deloitte Middle East whitepaper titled “Switched on to Current Trends and Implications”, the first in a series of “Managing Scarcity For The Future” monthly white papers, said Monday.
This challenge is all the more difficult as many of the countries in the region are among the world’s most water deficit nations.
Jeddah June 14: Saudi stock benchmark Tadawul All Share Index extended gains Monday on hopes of upbeat second-quarter results. TASI closed at 6,584.58 points, raising 0.54 percent.
“We should maintain current levels, and stay above 6,500 until Q2 earning,” said a Riyadh-based fund manager.
“We should stabilize because it seems earnings will be OK, especially the petrochemical sector.”
Oil prices have stayed above $100 a barrel in the second-quarter, indicating healthy margins for petrochemical producers.
Riyadh, June 14: Saudi Arabia’s Cabinet has approved a SR51 billion ($13.6 billion) interest free loan to the Saudi Electricity Co. to help it cover its projected fiscal deficit and complete projects through 2012.
Information and Culture Minister Abdel-Aziz Khoga said Monday the 25-year loan is aimed at helping the state-run company meet deadlines to boost power generation capacity in the Kingdom.
The Kingdom of Saudi Arabia plans to invest about $80 billion in its power generation sector in the next decade to cope with domestic demand that is increasing at about eight percent yearly.
New York/Mumbai, June 14: Citigroup on Tuesday said it has reduced its stake in mortgage lender HDFC to 9.9 per cent from 11.4 per cent, a deal the US bank said would give it a pre-tax profit of about USD 160 million.
Citigroup sold 1.5 per cent holding in Housing Development Finance Corp (HDFC). “Reducing its holdings in HDFC to below 10 per cent is part of Citi’s mitigation efforts ahead of the adoption of Basel-III capital rules,” Citigroup said in a statement.
New Delhi, June 13: India will introduce a bill in the monsoon session of parliament that will enable confiscation of illegal money stashed in India by foreigners, Finance Minister Pranab Mukherjee said Monday.
‘We will introduce the bill in monsoon session,’ Mukherjee said while addressing a joint press conference with Organisation for Economic Cooperation and Development (OECD) secretary general Angel Gurria.
The event is being organised by the finance ministry in partnership with the OECD.
Hyderabad, June 09: A minor girl who was kidnapped by her neighbour with an intention to sell her in Mumbai’s red-light area was rescued by the Hyderabad police on Wednesday.
The girl, a Class V student and resident of Prakashnagar in Begumpet, went missing on June 6. Her mother, N Lakshmi, lodged a complaint with the Begumpet police station stating that her daughter had gone missing while playing with other girls in the locality.
New Delhi, June 04: After petrol, price of compressed natural gas (CNG) has been increased by Rs 0.50 per kg, the second hike in rates in as many months.
Indraprastha Gas Ltd (IGL), a joint venture of state-run GAIL India and Bharat Petroleum (BPCL), hiked CNG price in Delhi by Rs 0.50 per kg and in neighbouring Noida, Greater Noida and Ghaziabad by Rs 0.55 per kg.
“The new consumer price of Rs 29.80 per kg in Delhi and Rs 33.40 per kg in Noida, Greater Noida & Ghaziabad would be effective from midnight tonight,” the company said in a statement here.
International World Environment Day on 5th June
New Delhi, June 02: India has emerged among the four fastest wealth creator countries in the world and its growth momentum is expected to gather further steam going forward, a global study has said.
In its annual Global Wealth Report, management consulting firm Boston Consulting Group has listed the US, China, the UK and India as the nations showing the largest absolute gains in wealth in 2010.
Global wealth continued a solid recovery in 2010, driven by growth in nearly every region and registered an increase of USD 9 trillion, to a record of USD 121.8 trillion.
Chennai, June 01: For the first time perhaps in India’s banking history, the Central Vigilance Commission (CVC) is conducting a probe based on a whistleblower’s complaint about certain alleged irregularities at the Mangalore-based public sector Corporation Bank.
According to the sources, a two-member team from the CVC camped at Corporation Bank’s headquarters May 9-14 to probe the complaint and senior bank officials deposed before it.
New Delhi, May 31: State-owned Indian Oil Corp, the nation’s largest fuel retailer, on Monday said it may hike petrol price next month as the steep hike of Rs 5 per litre of May 15 was not enough to cover for the cost of crude oil.
“Even after the hike, we are today losing Rs 4.58 per litre. After including VAT, the desired increase at retail level comes to Rs 5.50 a litre,” IOC Chairman R S Butola told reporters here.
New Delhi, May 29: Mukesh Ambani has got company of at least 29 fellow corporate executives, including four from his own group Reliance Industries, in terms of annual salaries running into crores of rupees for the latest fiscal.
These include JSW Energy’s Sajjan Jindal, Hindustan Construction’s Ajit Gulabchand, Raymond’s Gautam Hari Singhania, ICICI Bank’s Chanda Kochhar, Axis Bank’s Shikha Sharma, as also Infosys’ S Gopalakrishnan and S D Shibulal.
Kolkata, May 27: Eleven months after Apple’s next-generation smartphone hit stores worldwide, the iPhone 4 was launched today in India, the world’s second biggest market for mobile phones.
Declaring the roll-out of one of the most expected smartphones in the world by Bharti airtel here and in 34 other cities in India, Airtel CEO (West Bengal and Orissa) P D Sharma told PTI the iPhone 4 will create a separate space from the clutter of smartphones in the market, many of them having copied Apple features.
New Delhi, May 26: After petrol, price of diesel, LPG and kerosene are likely to be hiked next month when a ministerial panel headed by Finance Minister Pranab Mukherjee meets to decide on passing rise in crude rates to consumers.
“The Empowered Group of Ministers (EGoM) has been scheduled to meet on June 9,” a top oil ministry official said here today.
“Price of diesel, LPG and kerosene will have to go up (to cover for rise in input crude oil cost). What EGoM has to decide is by how much,” the official said.
New Delhi, May 25: Indian households are likely to cut back on consumption of food items to manage inflation but they may not compromise on spending towards lifestyle category, according to a Morgan Stanley report.
The report which is based on 2008 representatives of the low, medium and high income groups concludes that Indian households are likely to cut savings to manage rising inflation.
New Delhi, May 22: In a rare honour, Bharti Group chief Sunil Mittal has been invited to the first-ever meet on internet to be held under the purview of Group of Eight (G-8) industrialised nations later this month in France.
Mittal has received the invitation for the meet from French President Nicolas Sarkozy, who is the current head of the G-8 grouping.
“In my current capacity as President of the G-8, I would like to place the issue of the internet on the agenda of the summit of Heads of State and Government that will be held in Deauville on 26-27 May, 2011.
Mumbai, May 22: Ratan Tata said India needs people to allocate some of their enormous wealth to finding ways of mitigating the hardship that people have.LONDON: Tata group chief Ratan Tata has said he is surprised why fellow tycoon Mukesh Ambani wants to live in the opulence of a billion-dollar home in south Mumbai.