Top state-run firms to get Maha Ratna status

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 17th, 2009 Summers: Wall Street firms better thanks to gov'tWASHINGTON — President Barack Obama's top economic adviser says the improved health displayed by some large Wall Street firms would have been impossible without government help. Lawrence Summers, the director of the White House's National Economic Council, said Friday that the ability of certain large banks to pay the Treasury back for large infusions of taxpayer money is a positive and favorable sign.

July 15th, 2009 CHENNAI - Venture capital (VC) firms investment has fallen in the first six months of this year, as compared to the corresponding period in 2008, according to a study. The study, conducted by Venture intelligence, a leading research firm in the venture capital space, and Global India Venture Capital Association, said VC firms invested $117 million in 27 deals in India with fund inflow picking up in the last two months of the period under review.

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 7th, 2009 Searches at offices of 2 Iceland investment firms REYKJAVIK, Iceland — Iceland's special prosecutor says that the offices of two investment firms are being searched in a criminal investigation related to the collapse of the nation's banking system. The special prosecutor's office said investigators were searching the offices of the investment firms Milestone and Sjova.

June 22nd, 2009 NEW DELHI - The government is considering giving "maharatna" status to big public sector undertakings (PSUs) to provide them greater freedom to take strategic decisions in key areas of investment and mergers and acquisitions. The plan to create the "maharatna" group among the so-called "navaratna" companies is part of the 100-day agenda of the ministry of heavy industries and public enterprises, a government statement said Monday.

May 28th, 2009 PATNA - Rickshaw puller Haria Bhuiyan and daily wage labourer Mangru Manjhi are elated. Bihar Chief Minister Nitish Kumar has said a housing scheme for the poorest of the poor is being finalised and will be implemented soon.

May 8th, 2009 Banks, investment firms draw less from FedWASHINGTON — The Federal Reserve says banks and investment firms borrowed far less over the past week from its emergency lending program, a hopeful sign some credit stresses are easing. The Fed says commercial banks averaged $40.9 billion in daily borrowing over the past week that ended Wednesday.

March 19th, 2009 THIRUVANANTHAPURAM - The global economic slowdown has taken its toll on the IT companies in Kerala, with some cutting salaries, while some others have already having informed stakeholders that they have no option but to cut operating costs. The IT sector in the state has reached an annual turnover of around Rs.1,500 crore (Rs.15 billion/$300 million), providing direct employment to 60,000 people, of which close to 30,000 are employed at the various Technopark campus here and Infopark campus at Kochi.

February 21st, 2009 RANCHI - Barbers in Jharkhand are demanding Schedule Caste status, which will help them get reseved jobs and educational opportunities. They are presently classified among Other Backward Communities in the state.

February 19th, 2009 RANCHI - Barbers in Jharkhand are demanding Schedule Caste status, which will help them get reseved jobs and educational opportunities. They are presently classified among Other Backward Communities in the state.

February 4th, 2009 PATNA - The Bihar government has decided to set up a commission that will recommend measures for the socio-economic development of Scheduled Tribes in the state, a minister said Thursday. The move to set up the Scheduled Tribes Commission is to implement an all-inclusive growth in the state, said Jitan Ram Manjhi, minister for backward class welfare.

January 17th, 2009 NEW DELHI - Short of funds and fearing revenue losses, India's airport operator has shelved plans to upgrade the 35 non-metro airports at the same time, and target only a few big ones among them, a government official has said. 'We are now targeting 10-12 major non-metro airports to meet the deadline,' an Airports Authority of India (AAI) official said.

January 12th, 2009 NEW DELHI - The government Tuesday appointed HDFC chairman Deepak Parekh, industrialist Sajjan Jindal and architect Hafiz Contractor as non-official directors of the Airports Authority of India (AAI), allowing it to exercise powers of the 'mini-ratna' status conferred on it last month. With the new appointments, the state-run airports operator can now exercise its powers of autonomy in terms of investment in projects and can also form joint ventures (JVs).

December 22nd, 2008 NAUBATPUR - It has been a dream that has remained unfulfilled for long. Their forefathers died without a proper roof over their heads.