TNM

Foreign firms can participate in 3G auction

The department of telecommunications (DoT) has said that foreign telecom firms can participate in the bidding process of third generation (3G) phone services without a local partner. The foreign telecom firms should follow the laws which permit a maximum of 74% ownership in the country's phone service firms by a foreign telecom firm. The firms must acquire a universal access service (UAS) license to start services in the Indian region.  

Futures trading in wheat, rice is likely very soon

Government can lift ban on the futures trading in wheat, rice, urad and tur in a couple of days. The ban was imposed in 2007 to control the ever increasing prices. Inflation rate is slightly declining, paving the way for lifting the ban. The Forward Markets Commission (FMC) has sent a detailed report on futures trading to the government and the decision is likely to come very soon.

Tata Motor’s Credit Ratings Lowered by S&P

The corporate credit rating of automaker Tata Motors has been lowered by Standard & Poor’s (S&P’s), from ‘BB’ to ‘BB-’. S&P’s credit analyst Mehul Sukkawala said, “We've downgraded Tata Motors and placed the rating on credit watch due to the faster-than-expected deterioration in the automobile market conditions.”  

Tata's sales in India decreased 30 percent last month from November 2007, a much higher decline than expected. The decline followed a 20 percent October decrease from 2007. Also, Jaguar and Land Rover, the marquee British brands that Tata Motors bought out early this year, have seen shrinking demand in the key markets of the US and Europe. This is likely to have an adverse impact on Tata Motors’ financial profile.

Elecon Engineering wins order worth Rs 120 crore

Elecon Engineering wins order worth Rs 120 croreElecon Engi

ONGC signs Cooperation Pact with IOC

ONGC signs Cooperation Pact with IOCOil & Natural Gas Corporation, the

Presence of H5N1 bird flu virus in local farm, confirmed by Hong Kong government

Presence of H5N1 bird flu virus in local farm, confirmed by Hong Kong governmentGovernment authorities confirmed the outbreak of the H5N1 strain of bird flu at a local chicken farm on Thursday. Jolly Choi, spokeswoman for Hong Kong's agriculture, fisheries, and conservation department said that earlier tests on Dec 9 were positive for an H5 virus, but further testing showed that three chickens found dead on the farm had the H5N1 subtype.

Choi said that no new measures were required other than those that have been implemented.

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