Plan to revive 15 sick state-run firms approved

October 4th, 2009 3 more investment firms approved for asset programWASHINGTON — Three more large investment firms have raised sufficient capital to participate in the joint partnership with the government to purchase toxic assets from banks. The Treasury Department said Alliance Bernstein LP and BlackRock Inc., both headquartered in New York City, and Wellington Management Co., based in Boston, had all raised the $500 million minimum to begin operations.

September 24th, 2009 TALCHER - The central government has decided to revive the closed fertiliser unit in Talcher at an investment of Rs.12,000 crore, Minister of State for Chemicals and Fertilisers Srikant Kumar Jena said here Thursday. The coal-based fertiliser unit here, some 130 km from the state capital Bhubaneswar, had a capacity of producing 495,000 tonnes of urea and 297,000 tonnes of ammonia per annum and was closed down in 1999 due to "economic non-viability".

September 8th, 2009 NEW DELHI - If the president of the newly formed Jet Airways pilots' union is to be believed, the reason for some 400 of its members falling sick Tuesday, perhaps, was food poisoning. We are not on strike.

September 1st, 2009 BANGALORE - The government proposes to award Maha Ratna status to state-owned companies for greater functional autonomy to make higher investments, form joint ventures and expand capacity, Heavy Industries and Public Enterprises Minister Vilasrao Deshmukh said here Tuesday. "My ministry will seek cabinet approval for elevating some of the Nav Ratna companies owned by the government to the Maha Ratna status provided their net profit is Rs.5,000 crore for three consecutive years," Deshumukh told reporters on the margins of an official function.

August 21st, 2009 MOSCOW - Washington has approved a long-term contract for imports by a US company of Russian low-enriched uranium, Russia's state-run nuclear company Atomenergoprom said Friday. On Aug 19, the US commerce department "approved a direct contract for deliveries by Techsnabexport (Atomenergoprom's uranium export arm) of enriched uranium to the US energy company Constellation Energy Nuclear Group," the company said in a statement.

August 21st, 2009 NEW DELHI - The Planning Commission Friday approved Rs.10,000-crore (Rs.100 billion) plan outlay for Delhi for the 2009-10 fiscal. The annual plan for the capital was finalised in a meeting between Delhi Chief Minister Sheila Dikshit and Planning Commission Deputy Chairman Montek Singh Ahluwalia.

August 13th, 2009 WASHINGTON - The US will give up to $2.3 billion in tax credits to green manufacturers in the latest disbursement Thursday of the government's economic stimulus package. The new credits will go to manufacturers of clean energy equipment including wind, solar, geothermal energy and electric car batteries.

July 27th, 2009 New Delhi, - A whopping 18,183 cases were filed against firms violating the Companies Act between Jan 1, 2008, and March 31, 2009, the government said Monday. Further, a total of 238 companies were identified as having "vanished" after cheating the public and siphoning off funds garnered by subscriptions to initial public offers (IPOs), said Corporate Affairs Minister Salman Khurshid in a written reply to the Rajya Sabha.

July 16th, 2009 NEW DELHI - The government's plan to sell stakes in state-owned enterprises will strengthen its financial position and help address India's many economic woes, says the economic research arm of consultancy Moody's. "Divestment is an answer to many of India's existing economic concerns.

July 14th, 2009 NEW DELHI - Only 160 out of 419 central government-run firms made profits in 2007-08, contributing Rs.23,857.88 crore (Rs.238.58 billion/$4.86 billion) as dividend to the exchequer, the government said Tuesday. Government-controlled companies had contributed Rs.18,443.79 crore (Rs.184.44 billon) in 2005-06 and Rs.22,834.76 crore (Rs.228.35 billion) in 2006-07 to the central kitty, said Minister of State for Heavy Industries and Public Enterprises Arun Yadav in a written reply in the Rajya Sabha.

July 9th, 2009 NEW DELHI - The equity investment in 72 public sector undertakings of the central government has been completely wiped out due to successive losses, eroding the net worth by a staggering Rs.78,665 crore (Rs.786.65 billion/$16.1 billion), India's official auditor has said. Referring to the audit conducted for 281 companies, out of 419 central government-run firms, the Comptroller and Auditor General of India said these companies were under ministries for civil aviation, power, shipping, road transport, highways and consumer affairs.

June 29th, 2009 Calif. Senate OKs budget headed for certain vetoSACRAMENTO, Calif. — The California Senate has approved a Democratic budget that faces a certain veto from Republican Gov.

June 18th, 2009 Mo. board revises training camp deal for ChiefsJEFFERSON CITY, Mo. — Missouri officials have approved a deal to bring the Kansas City Chiefs training camp back to Missouri for at least 10 years.

June 10th, 2009 German government approves state bank planBERLIN — Germany's government has approved a plan to take over troubled assets from state-owned banks in exchange for agreements to restructure and merge their operations. Government spokesman Thomas Steg said Wednesday that Chancellor Angela Merkel's cabinet had approved a plan to allow the nation's seven public sector banks to move up to euro600 billion ($846 billion) worth of bad assets off their balance sheets.

February 17th, 2009 NEW DELHI - State-run Coal India Ltd will invest Rs.100 billion (Rs.10,000 crore) to revive coal mines at Jharia in Jharkhand, a top official said here Wednesday. 'Jharia coal mines are highly under-utilised and only coking coal is produced there.