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Major win for India over Pak at SAARC
India yesterday achieved a major diplomatic victory when foreign ministers of the South Asian Association for Regional Cooperation brushed aside Pakistan's objections and endorsed the formation of sub-regional grouping between New Delhi and three of its neighbours.
Digging with bare hands in Iran; quake toll 2,400
Military aircraft rushed food, clothes and medicine to remote mountains in north-eastern Iran, where a powerful earthquake killed at least 2,400 people. Aftershocks shook what was left standing, forcing tens of thousands to camp in the streets of stricken villages. Iranian officials appealed for international aid for the 40,000 people rendered homeless.
Cong chief may have a smooth sailing under Sonia's shadow
The detractors of Sitaram Kesri have failed to find a person to contest against him for the post of the Congress president with former Maharashtra chief minister A R Antulay bowing out of race and other senior leaders deciding to play safe rather than enter the fray for the June 9 party polls.
Hazare launches a "silent" crusade
Crusader Anna Hazare has resorted to an indefinite maun vrata - the vow of silence - for "purification of mind and soul" at his Yadavbaba Temple residence in his native Ralegan Siddhi village from Saturday morning. The maun-vrata has been a fresh salvo from rural development.
Kerala ex-ministers indicted in land scam
The Kerala government has sent a Vigilance report to the High Court containing alleged violations on the part of a 10-member group to take over around 250 acres of unassigned government cardamom land at Anaveratti in Devicolam, Idukki.
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Meagre power purchase tariffs could derail HPCL venture
Total of France is treading a cautious path for its proposed LNG joint venture with Hindustan Petroleum Corporation Ltd. Feasibility studies for the liquefied natural gas import facility are on. The Rs 85,000 crore project involves building an all-weather jetty, storage and transmission facilities and an LNG-fed power plant.
FIs may be allowed access to NRI funds
The Reserve Bank of India is considering allowing financial institutions (FIs) to tap non-resident Indian funds. This is the next step towards further liberalisation of FIs by the apex bank in its bid to create a level playing field for banks and financial institutions. The move was indicated in a letter to the Industrial Development Bank of India by the apex bank.
Boeing, Airbus in race for Rs 5,000cr IA aircraft deal
Global airline majors Boeing and Airbus have set the stage for another battle, this time round for Indian Airlines' Rs 5,000-crore aircraft replacement plan. Both the companies have made presentations to the national carrier to bid for twelve 100-seater and ten 250-seater aircraft, which Indian Airlines plans to purchase.
State Bank plans foray into cash management
State Bank of India has decided to offer cash management services to its blue chip corporate accounts group members on a priority basis. This is part of the bank's attempts to carve out a larger business share for its corporate banking. The bank will initially offer its cash management services at 50 centres.
Global investment bankers set to grab PSU divestment pie
Top-league global investment bankers Morgan Stanley, Merrill Lynch, Natwest Markets, ING Barings, Salomon Brothers, Goldman Sachs, among others are busy preparing for participating in Disinvestment Commission. And joining them will be Indian majors - SBI Capital Markets, JM Financial and Enam Finance, to name a few. The Centre proposes to raise Rs 2500 crore under this plan.
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