India against credit curbs to check price rise: MukherjeeSeptember 19th, 2009 BANGALORE - Union Finance Minister Pranab Mukherjee has said that the government opposes tighter monetary policy to curb rising food prices as this would hit economic growth of the country. "To prevent the adverse impact of the rising prices of essential commodities, we are encouraging imports where there is short supply," Mukherjee said on the sidelines of a conference here on Saturday.
Growth rate can go beyond 6 percent: Pranab MukherjeeAugust 28th, 2009 NEW DELHI - Union Finance Minister Pranab Mukherjee on Friday said that India may be able to attain over six per cent growth rate in the current fiscal. "In the last five years, the GDP growth rate was eight per cent.
Industrial sector records 7.8 percent growth in JuneAugust 12th, 2009 NEW DELHI - Industrial production sector has recorded a 7.8 per cent growth in June as compared to 2.7 per cent a month before. Led by a recovery in manufacturing sector, which accounts for two-thirds of the industrial production, the 7.3 per cent growth indicates a return of consumer demand in the market.
BT Q1 profits fall 33 percent, hit by competition and low internet connection pricesJuly 30th, 2009 BT Q1 profits fall 33 pctLONDON — BT Group PLC, Britain's largest telecoms company, reported Thursday a 33 percent drop in profits in the first quarter amid tough competition and falling prices for Internet connections and said it would focus on delivering promised cost cuts. Net profit in the three months to June 30 fell to 214 million pounds ($352 million) from 318 million the year before.
Biocon net up 59 percent in first quarterJuly 23rd, 2009 BANGALORE - Biotech major Biocon has posted a net profit of Rs.47.6 crore for the first quarter this fiscal, registering a 59 percent year-on-year (YoY), the company said Thursday. Total income for the quarter under review, however, grew only nine percent YoY to Rs.259 crore from Rs.237 crore in the like period a year ago, the company said in a regulatory filing.
Google profit jumps 19 percentJuly 17th, 2009 SAN FRANCISCO - Web search giant Google reported a 19-percent increase in profits as cost cutting made up for a decline in online ad spending due to the recession. Profits rose 19 per cent to $1.48 billion from $1.25 billion a year ago.
Highlights of Economic Survey 2008-09July 2nd, 2009 NEW DELHI - Finance Minister Pranab Mukherjee presented the Economic Survey 2008-09 to Parliament today. The highlights of the Economic Survey 2008-09 are as follows:
1.
Biocon announces strategic collaboration with MylanJune 29th, 2009 BANGALORE - Biocon Limited today announced that it has executed a definitive agreement with Mylan Inc. for an exclusive collaboration on the development, manufacturing, supply and commercialization of multiple, high value generic biologic compounds for the global marketplace.
PM confident of 8-9 per cent growthJune 9th, 2009 NEW DELHI - Prime Minister Manmohan Singh on Tuesday expressed confidence that the country can achieve eight to nine per cent growth rate in the coming two to three years and the government will be working to achieve it. "I cannot promise that international developments (economic slowdown) will not affect India, but we can still achieve eight-nine per cent growth rate.
Biocon to fund innovation cell at Hyderabad B-schoolJune 8th, 2009 BANGALORE - India's biotechnology major Biocon Ltd. Monday announced the setting up of a cell for innovation management at Hyderabad's Indian School of Business (ISB) with a corpus of Rs.1 crore.
Biocon inks partnership with ISB to launch Biocon Cell for Innovation ManagementJune 8th, 2009 BANGALORE - Biocon Limited have launched the Biocon Cell for Innovation Management (BCIM) to promote innovation in business. The Cell will be established under the aegis of the Centre for Leadership, Innovation, and Change (CLIC) at the ISB.
Kiran Mazumdar Shaw awarded prestigious 'Nikkei Asia Prize' 2009May 11th, 2009 BANGALORE - Kiran Mazumdar Shaw, Chairman and Managing Director, Biocon Limited has been honoured with the 'Nikkei Asia Prize' 2009 for Regional Growth. Japan's prestigious business daily Nihon Keizai Shimbun (Nikkei) awards Nikkei Asia Prizes annually to individuals or institutions from Asia Pacific region recognizing outstanding achievements that improve the quality of life in Asia.
Biocon last quarter profit dips 61 percentApril 28th, 2009 BANGALORE - Biotechnology major Biocon Tuesday announced a decrease of over 61 percent in its net profit for the quarter ending March 31. In a regulatory statement, Biocon said its unaudited net profit for the last quarter was Rs.241.4 million, compared to Rs.620.3 million - a decrease of over 61 percent.
Weak rupee lowers Biocon net profit 80 percent in 2008-09April 28th, 2009 BANGALORE - A steady weakening of the rupee in the volatile currency market has lowered the consolidated net profit of biotechnology major Biocon group to Rs.93.1 crore in 2008-09 from Rs.464 crore the year before, registering a whopping decline of 80 percent. 'Unpredictable rupee depreciation induced by global economic crisis has adversely impacted our consolidated earnings wherein losses of Rs.147 crore on account of mark-to-market (MTM) were provided,' Biocon chairperson Kiran Mazumdar-Shaw told reporters here Tuesday.
Bristol-Myers Squibb, Biocon's Syngene open new R and D facility at Biocon ParkMarch 23rd, 2009 BANGALORE - Syngene International, a subsidiary of Indian biotechnology major, BIOCON Ltd, and Bristol-Myers Squibb Company announced today the opening of a fully dedicated research and development facility for Bristol-Myers Squibb in Biocon Park, Bangalore. The 200,000 square-foot facility at Biocon Park is dedicated to helping advance Bristol-Myers Squibb's work in discovery and early drug development, and is currently occupied by 270 researchers.
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