Videsh Sanchar Nigam to amend its association memorandum
Videsh Sanchar Nigam Ltd (VSNL), the country's international telecom monopoly, has decided to amend its memorandum of association to include domestic long distance telephony as part of its service offerings. This would be done in the next annual general meeting of the company.
Korean steel coil dumping gives local firms the jitters
Domestic hot-rolled (HR) coil producers are facing a threat as Korean steel companies led by Posco Steel have begun large-scale dumping in the country. The total dumping in the first two months of the calendar year stood close at 30,000 tonnes.
JCT Electronics to retire high-cost debt through two-phase rcast plan
JCT Electronics Ltd, the MM Thapar group colour picture tube manufacturer, is going in for a major financial restructuring. This includes induction of strategic partners, renegotiation of high-cost debts and fund-raising through external commercial borrowings (ECBs).
Tisco plans to set up Rs 800-crore bar mill complex in Jamshedpur
Enthused with the Bihar government offering of sales tax benefits to units which are investing Rs 500 crore or more, the Tata Iron and Steel Company Ltd (Tisco) is planning to set up a "bar mill complex" in Jamshedpur with a Rs 800-crore investment.
National Thermal Power knocks at OECF doors for funds aid
In a bid to part finance its forthcoming coal based and gas-based power projects costing Rs 12,000 crore, the National Thermal Power Corporation (NTPC) has initiated talks with the Overseas Economic Co-operation Fund (OECF). In addition to this, NTPC is also negotiating with KFW for funding its Rs 2000 crore, 650 MW gas based Anta II power project in Gujarat.
Asia's technology shares take a beating on back of Intel first-quarter warning
Asia's technology shares on Friday appeared to have ridden out US micro-chip giant Intel Corp's quarterly profit warning, which hammered US Shares -- especially technologies -- on Thursday. Intel's warning late on Wednesday that sluggish computer demand would hit its first-quarter sales and earnings prompted analysts to cut their Intel forecasts.
