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Orissa government says no to CBI enquiry into mining scam
The Orissa government today rejected the Opposition demand for an enquiry by the Central Bureau of Investigation (CBI) into the irregularities at high level in the alleged mining scam running into hundreds of crores.

CIL's coal price hike may burden thermal power stations
The Coal India Limited"s (CIL"s) move of 11 per cent hike in the price of coal is likely to impose a heavy financial burden on some of the coal-based thermal power stations in the state, Gujarat State Electricity Company (GSECL), sources said.

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Excellent carryover patterns
The September segment is offering fairly attractive spreads for option traders.
Small Business

Govt okays 14 FDI proposals worth Rs 732 cr

The government today cleared 14 foreing direct investment (FDI) proposals, including a Rs 273-crore application from Asset Reconstruction Company, which could together bring in foreign investment worth Rs 732.5 crore. - New date for GST in April - India to get 145 US-built Howitzers - Bengal earmarks 100 acre for IT & electronic hardware - Orissa govt approves proposals for two more steel plants - Govt clears four port projects worth Rs 4,120 cr - Andhra Pradesh hikes VAT on jet fuel Asset Reconstruction Company is expected to get Rs 272.86 crore worth FDI resulting in foreign holding from the present 14.66 per cent to 16.01 per cent. The government has also cleared a proposal from Standard Chartered Bank to bring in Rs 205.95 crore FDI. The bank wants to increase FDI from 74.9 per cent to 100 per cent in its arm engaged in equity broking investment banking and portfolio management. The government has also cleared a Rs 251.75-crore proposal from television channel NDTV Lifestyle. The FDI proposals of Unitech Wireless (Tamil Nadu), NDTV Imagine, SaharaOne and KS Oils were also cleared. However, four proposals, including that of Telstra Communications of Mumbai was rejected by the government. The company wanted to issue fresh equity shares for increasing FDI from 49 per cent to 74 per cent. Besides, the government has deferred 10 proposals, while proposal of India Infrastructure Development was recommended to Cabinet Committee of Economic Affairs (CCEA). Walt Disney"s proposal to undertake additional activity of printing and publication of a speciality magazine, and the proposal from Telcordia Technologies were also deferred. The Rs 2,400-crore FDI proposal of India Infrastructure Development Fund of Mauritius was recommended to the CCEA as any investment above Rs 600 crore has to be referred to the committee. Two proposals including that of realty firm Unitech and Mercer Inc of New York was withdrawn by the companies. Unitech was supposed to bring in FDI investment worth Rs 2,400 crore.


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