Days after the High Court here struck down the Singur Land Rehabilitation and Development Act, Chief Minister Mamata Banerjee today announced the state would double the monthly aid to Singur landlosers to Rs 2,000 a month.

Monthly aid to Singur land losers doubled

Business Standard

Corporate Affairs Minister Veerappa Moily on Wednesday slammed rating agencies for factoring in political parameters in downgrading India&rsquo;s credit rating outlook. He asserted there was no economic &ldquo;tsunami&rdquo; in India.

Don't factor in  political parameters: Moily tells credit rating agencies

The Gujarat High Court on Wednesday ordered a CBI probe into a case where 23 children suffering from thalassemia allegedly got infected with HIV virus after undergoing blood transfusion at Junagadh Civil hospital last year.

HC orders CBI probe in thalassemic kids getting HIV infection

Urbanisation will lead to the creation of one billion new city consumers by 2025, said a study by McKinsey Global Institute (MGI). The study said these will live in some 440 dynamic emerging market cities (the &lsquo;Emerging 440&rsquo;), that are set to generate close to half (47 per cent) of expected global GDP growth between 2010 and 2025. Among these, 36 cities are from India.

Among 440 rising global cities in 2025, India to have 36: Report 

The demand for foreign workers remains high in the Gulf region, despite regional political turmoil and the continuing global economic slowdown, said a study sponsored by Western Union.

'Demand for workers in Gulf still strong'

Cocotech meeting of the Asian and Pacific Coconut Community (APCC) will be held in Kochi from July 2. Along-side the meeting, a Coconut Festival providing opportunity to showcase various value-added products, technologies and machinery from member countries will be arranged.

Cocotech meeting in Kochi from July 2

Indigenisation of technology has been the buzzword at the India defence and aerospace symposium &ndash; IDAS 2012 &ndash; held here on Wednesday.

Symposium focuses on indigenisation of technology

Polaris Financial Technology Ltd on Wednesday informed the Bombay Stock Exchange that it has appointed Natarajan Narayanasamy as Chief Financial Officer with effect from July 1, 2012, in place of S R Ramaswami.

Polaris Financial Technology's new CFO

The Reserve Bank of India (RBI) on Wednesday said it has decided to phase out short term subordinated debt as an eligible source of capital for standalone Primary Dealers (PDs). Hence, PDs may not issue Tier-III bonds from July 1, 2012. As per earlier guidelines, PDs were allowed to raise capital through issuance of short term subordinated debt to meet capital charge for market risk.

Primary dealers asked to discontinue Tier-III bonds

DBS Bank India unit, arm of DBS of Singapore, has reported a 164 per cent increase in net profit at Rs 335 crore for FY12 from Rs 127.2 crore for FY11 on improvement in interest margins.

DBS Bank India unit posts 164% hike in net

Danfoss Industries Private Limited, a manufacturer of mechanical and electronic components and solutions for the refrigeration and air-conditioning industry, is planning to invest $100 million (around Rs 570 crore now) to set up an integrated campus for its manufacturing and research and development (R&amp;D) activities.

Danfoss plans $100-mn integrated facility in Chennai

Initial Public Offer of VKS Projects Limited will open on 29th of this month and closes on 4th July. The company proposes to raise aggregating Rs 55 crore through 100 per cent book building process. The Price Band has been fixed at Rs 55 to Rs 60. Aryaman Financial Services is the sole Book Running Lead Manager and Bigshare Services Private Limited is the Registrar to the Issue. The equity shares are proposed to be listed on the BSE and NSE, a company press release said.

VKS Projects IPO to open on June 29

Deposits in the banking system have fallen for the fortnight ended June 15, as lenders continued to shed high-cost deposit while savers preferred alternative class of assets due to unattractive real returns from such schemes.

Bank deposits fall, credit logs marginal growth  

Britannia Industries Ltd was awarded the Global Performance Excellence Award by Asia Pacific Quality Organization in Chicago on June 18. It won the &quot;Best In Class&quot; award, an international recognition for its manufacturing units and the overall processes of performance excellence adopted by the company.

Britannia Industries wins awards

McDowell's No 1, India's largest alcohol beverage brand by volume, has signed up Bollywood actor and director Farhan Akhtar for its soda extension. Farhan, along with Purab Kohli, Cyrus Sahukar, Zoa Morani and Chang will feature in a TVC going on air this week.

Farhan Akhtar to promote McDowell's

Shares of Vijay Mallya-promoted Kingfisher Airlines were hit hard on Wednesday, following reports that lessors had taken back 34 of its aircraft due to non-payment of lease rentals.

Kingfisher shares tank 8%

There is no end to the troubles of the Bharatiya Janata Party (BJP) in Karnataka as former chief minister B S Yeddyurappa remains firm in his demand for a leadership change in the state government. The central leadership of the party, however, appears not in a mood to budge to the pressure.

BJP snubs Yeddyurappa, says no to leadership change

With Textile Labour Association (TLA) and Ahmedabad Textile Mills Association (ATMA) yet to reach at a consensus, striking textile workers at various mills have threatened to boycott the latter's representatives.

Workers unhappy with TLA, mull new team for talks

The National Association of Software and Services Companies (Nasscom), which represents the Indian software industry, has to watch data for the next two quarters to decide whether to revise the revenue guidance for the IT industry this financial year, said its president Som Mittal.

Nasscom to wait for two quarters before looking at guidance

TP Raman, managing director of Sundaram Asset Management Company (Sundaram AMC), will be stepping down from his position by the end of this month. With 16 years of experience in the company, he would be the longest-serving chief executive of any Indian fund house.

BS Reporter