New KBR group to oversee its activities in the government, defense and infrastructure marketsAugust 21st, 2009 KBR forms new business unitHOUSTON — KBR Inc. formed a new business group to serve customers in North America, the Middle East, United Kingdom and Australia.
Gujarat seeks World Bank aid to develop infrastructureJuly 20th, 2009 GANDHINAGAR - The Gujarat government has sought a Rs.705-crore ($146-million) aid package from the World Bank to upgrade urban infrastructure in 10 townships, a senior government official said Monday. The official at the department of urban development said the amount, if sanctioned, would be used to upgrade infrastructure in the towns like Bhavnagar, Jamnagar, Junagadh and Veraval so that these areas could attract more industrial investments.
'Investment in infrastructure can boost economy by 1.8 pc'July 18th, 2009 HYDERABAD - Investments in infrastructure, particularly the roads sector, can boost the economy by 1.8 percent a year, said J.P. Nayak of Larsen and Toubro Limited here Saturday.
In stinging remarks, Pentagon chief says lawmakers are spending more on jets than necessaryJuly 17th, 2009 Gates scolds Congress over funding for fighter jetCHICAGO — Defense Secretary Robert Gates is jeering Congress for wanting to spend millions of dollars on more fighter jets than he says the U.S. actually needs.
House boosts funding for veterans programs, military base constructionJuly 10th, 2009 House boosts funding for veterans programsWASHINGTON — Veterans health care programs would receive another big boost under a $132.4 billion measure passed by the House on Friday. The 12 percent increase for the veterans medical services account is but the latest in a recent string of generous increases.
Idea Cellular demerges its tower businessJuly 9th, 2009 MUMBAI - Telecom major Idea Cellular has received shareholders' approval to hive off its tower business into a subsidiary company Idea cellular Towers Infrastructure, the company said Thursday. Its rivals Airtel and Reliance Communications had earlier demerged their passive infrastructure - towers and base stations - business to save costs.
Takeout financing scheme to be evolved by IIFCLJuly 6th, 2009 NEW DELHI - The India infrastructure Finance Company Limited (IIFCL) will evolve a 'takeout financing' scheme in consultation with banks to facilitate incremental landing to infrastructure sector. Union Finance Minister Pranab Mukherjee announced this while presenting the General Budget 2009-10 in the parliament.
Nothing in the budget for Goa to cheer about: industryJuly 6th, 2009 PANAJI - Neither Goa Chief Minister Digambar Kamat nor the captains of industry have acknowledged any specific benefit to the state's crucial tourism industry in the union budget presented Monday. While the Congress chief minister in his formal reaction welcomed the budget for its thrust on rural development and listed a string of generic highlights, Kamat failed to acknowledge how the financial exercise would specifically benefit Goa.
Punj Lloyd bags contracts worth $392 mn in LibyaJuly 2nd, 2009 NEW DELHI - Engineering and construction major Punj Lloyd has bagged three contracts worth Rs.1,873.18 crore ($392 million) from the Housing and Infrastructure Board of Libya, the company said Thursday. As per the contract, the Indian company will build roads, networks for drinking water, sewage water and storm water and electrical and communication infrastructure in three towns in Libya, the company said in a regulatory statement.
Tax reliefs sought for infrastructure projectsJune 24th, 2009 NEW DELHI - The Associated Chambers of Commerce and Industry of India (Assocham) Wednesday urged the government to exempt infrastructure projects from excise, value-added tax (VAT) and central sales tax (CST) to make them more cost-effective. "On account of excise, VAT and CST, the capital costs of projects become dearer by over 20-25 percent which puts huge burden on companies commissioning infrastructure projects," said Assocham president Sajjan Jindal.
Set up $90-bn infrastructure fund, government toldApril 26th, 2009 NEW DELHI - The Associated Chambers of Commerce and Industry (Assocham) has urged the government to set up a 'separate infrastructure financing fund' worth $90 billion to finance infrastructure projects in the next three years. In a note submitted to the Planning Commission and the Reserve Bank of India (RBI), Assocham secretary general D.S.
IIM-Bangalore hikes fee by Rs.25,000 for new batchApril 2nd, 2009 BANGALORE - The Indian Institute of Management-Bangalore (IIM-B) Thursday announced a modest increase in the fee structure for post-graduate programmes from the ensuing 2009-10 academic year. The fee has been increased by Rs.25,000 to Rs.5.25 lakh from Rs.5 lakh for 2009-10 and by Rs.50,000 to Rs.5.75 lakh from Rs.Rs.5.25 lakh for the second year (2010-11), IIM-B school director Pankaj Chandra told reporters at the school campus.
Rs.33 bn budget for Bangalore infrastructureFebruary 21st, 2009 BANGALORE - The Karnataka government Friday allocated Rs.33 billion (Rs.3,300 crore) for the infrastructure development of India's IT hub in the state budget for the ensuing fiscal 2009-10. 'Of the total budget (Rs.33 billion), Rs.20 billion (Rs.2,000 crore) will be spent on upgrading arterial roads in Greater Bangalore under a special programme, involving private partnership for their maintenance,' Chief Minister B.S.
High interest rates, cash crunch delay infrastructure projects: CIIJanuary 24th, 2009 NEW DELHI - High interest rates and credit crunch have delayed several infrastructure projects by up to six months, said a survey by the Confederation of Indian Industry (CII), released here Sunday. According to the Infrastructure Outlook Survey, around 85 percent of the respondents have expressed concern over the delay in financial closure of infrastructure projects being implemented by them.
Indian government to launch Rs.1,000-bn infrastructure projectsJanuary 7th, 2009 CHENNAI - Following the announcement of two stimulus packages, the Indian government is all set to kickstart massive infrastructure projects worth Rs.1,000 billion (Rs.1 lakh crore/$20 bn), Minister of State for Industry Ashwani Kumar said here Thursday. 'Infrastructure projects worth Rs.1,000 billion (Rs.1 lakh crore) will be started in 100 days.
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