TopNews

Prime Minister Manmohan Singh will hold a meeting with industry leaders to discuss issues relating to downcast economic growth and explain the measures taken by the government to address the issues.

Mr. Singh's meeting with the members of the Council on Trade & Industry is scheduled to start at 6 pm on Monday, July 29. RIL Chairman Mukesh Ambani, Wipro Chairman Azim Premji, HDFC Chairman Deepak Parekh and ICICI Bank MD and CEO Chanda Kochhar are some of the members of the Council on Trade & Industry who are expected to attend the meeting.

New Delhi, July 29 : Olympic bronze medallist Saina Nehwal is delighted to be part of the same team as former Olympic and world champion Taufik Hidayat of Indonesia at the upcoming Indian Badminton League (IBL).

"Taufik is a role model and a driving force in the game. I am really happy to be part of Hyderabad Hotshots and I was thrilled once he was also included," said Saina, who is currently preparing for the Aug 5-11 World Championships in Guangzhou.

The 23-year-old, who was bagged for $120,000 in the IBL players auction, said she was looking forward to train with the legendary Indonesian.

New Delhi, July 29 : The Foreign Investment Promotion Board (FIPB) Monday approved the proposed 24 percent stake-sale in Jet Airways to Abu Dhabi-based Etihad Airways, with certain conditions.

"The (deal) has been cleared by the FIPB with minor changes to the language. All issues raised by civil aviation ministry have been resolved. Now the deal is expected to go to the Cabinet Committee on Economic Affairs (CCEA), but that will happen when a cabinet note is circulated by the finance ministry," Civil Aviation Minister Ajit Singh told reporters after the FIPB meeting.

Indian steel producer Tata Steel has reportedly plans to acquire British steel giant Stemcor's iron ore mine in Orissa - a state situated on the east coast of the country.

Stemcor has defaulted on more than $1 billion of loans as global slowdown in the steel industry has hit its business hard. The British firm is thus trying to sell some of its assets to get rid of some burden of its loans.

The reported sale of its iron ore mine in Orissa is expected to fetch it nearly $800 million.

The government may announce its decision on the troubled Jet-Etihad deal anytime soon as the Foreign Investment Promotion Board (FIPB) is once again mulling the deal.

The FIPB is holding a crucial meeting to consider Abu Dhabi-based Etihad's proposal to acquire 24 per cent stake in Jet Airways for around Rs 2,058 crore.

Sources said the FIPB is expected to give a green signal to the deal as the two carriers have addressed all the doubts raised by the regulators.

Mumbai, July 29 : The Reserve Bank of India (RBI) is likely to keep key rates intact in its policy review Tuesday, with the weakness in the rupee adding to the central bank's growth-inflation dilemma, experts said.

"It is widely anticipated that the central bank would maintain status quo on the policy front," Federation of Indian Chambers of Commerce and Industry (FICCI) president Naina Lal Kidwai said.

The RBI is scheduled to announce first quarter review of the monetary policy for 2013-14 Tuesday.