Within three days of the &ldquo;free&rdquo; sugar exports under open general licence allowed by the Ministry of Food, the Directorate General of Foreign Trade imposed restrictions similar to the control it did for cotton. Reversing the order by the food ministry dated May 11, the DGFT has not only made registration mandatory but also put a quantitative restriction of 10,000 tonnes by an individual exporter.

DGFT levies restrictions on sugar exports

Business Standard

The Central Bureau of Investigation (CBI) has registered a case against former Karnataka chief minister B S Yeddyurappa and others over alleged mining irregularities.

CBI raids Yeddyurappa's residences, offices of JSW Steel and subsidiary

Political turmoil in Greece undermined investors&rsquo; confidence in global commodities, triggering a drastic decline in prices today. Downward pressure dragged base and precious metals to over four-month lows.

Base and precious metals tumble on Greek turmoil

CPI leader and former MLA Narayan Reddy, who was arrested in connection with violence at the Posco project site in December last year, was granted bail by the Orissa High Court on Wednesday. While one person had died, 25 others were injured in the violence.

HC grants bail to anti-Posco leader

Former Karnataka chief minister B S Yeddyurappa is unsure of attending the two-day national executive meeting in Mumbai this month. Gujarat Chief Minister Narendra Modi had earlier said he might skip the meeting.

Yeddyurappa may skip BJP national meet 

Hinduja Group&rsquo;s flagship company, Ashok Leyland, is planning to invest around Rs 4,150 crore in Tamil Nadu. The proposed investments include a green-field facility to manufacture light commercial vehicles (LCV).

Ashok Leyland lines up Rs 4,150 cr for Tamil Nadu

State-run cable provider, Tamil Nadu Arasu Cable TV Corporation Limited, is all set to start its services in the Chennai Metropolitan area in digital mode soon. The company, which started its operations in September 2011, is setting a subscriber-base target of 10 million in the state, from the current 4.95 million.

Arasu Cable to go digital in Chennai

As the pressure from Mamata Banerjee came on the UPA Government for a moratorium on interest payments to the tune of Rs 22,000 crore a year on Central loans, Finance Minister Pranab Mukherjee on Wednesday categorically stated that problems of all the three debt-ridden states &mdash; Bengal, Punjab and Kerala &mdash; are being looked into by a panel and not just West Bengal alone. He also stated that though he comes from West Bengal, he has responsibility towards all 28 states.

'I am responsible for 28 states, not just Bengal'

The cash-rich Piramal Healthcare has closed its second deal in the past month to strengthen its pharma research and development business. The company has said it would acquire the US-based Decision Resources Group (DRG) for a consideration of nearly $635 million (Rs 3,400 crore).

Piramal Health buys US data firm for $635 mn

The falling rupee has come a cropper for BPO firm Firstsource as it creates cash reserves for an eventual buyback of its foreign currency convertible bonds.

Rupee depreciation adds to Firstsource FCCB burden 

ARSS Infrastructure has reported a loss of Rs 29.61 crore in the year ending March 31, 2012 as against Rs 112.16 crore profit in the previous comparable period. ARSS blamed unprofitable construction projects, which have suffered from time overrun leading to payment of heavy penalties, for dragging down of revenues and profit.

ARSS plans to shut down more projects after disappointing FY'12

To instill confidence among investors feeling jittery about the impact of the euro zone crisis on Indian stock markets and the rupee, the government on Wednesday said it would announce &ldquo;unpopular&rdquo; austerity measures. Informing the Parliament about this, Finance Minister Pranab Mukherjee, however, said the panic button should not be pressed.

FM signals tough measures for hard times, austerity coming

The rupee slumped to an all-time low on Wednesday amid weak macroeconomic fundamentals and global uncertainty. The Reserve Bank of India&rsquo;s (RBI&rsquo;s) limited intervention was not enough to lift the rupee, the worst performing Asian currency since March.

RBI digs deep but rupee sinks further

Capital market regulator Securities and Exchange Board of India (Sebi) today passed a consent order in the Educomp Solutions Ltd case to settle an year-old case by paying Rs 10 lakh. A consent order is an order settling administrative or civil proceedings between the regulator and a party.

Sebi passes consent order in Educomp case

Shares of the country&rsquo;s largest housing mortgage firm, Housing Development Finance Corp. (HDFC), declined 3.7 per cent on Wednesday after its weightage was reduced in MSCI&rsquo;s (Morgan Stanley Capital International) indices.

HDFC stock hit by MSCI weight reduction

Investors across the world fled from riskier assets like stocks, as nervousness gripped financial markets on Wednesday on fears that a Greek exit from the euro zone would worsen the debt crisis facing other European nations like Spain and Italy.

Greek tremor jolts D-Street

RP-Sanjiv Goenka Group flagship company CESC Ltd has taken over two hydroelectric power projects of India Bulls Group in Arunachal Pradesh, with an aggregate capacity of 146 mega watt.

CESC acquires hydel projects in Arunachal

As consumers in China preferred to defer their mobile handset purchases in the hope of better bargains later this year, global mobile sales have got truncated. This is the first time since the second quarter of 2009 that the market exhibited a decline.

Chinese bargain hunters pull down global mobile sales

Speciality Restaurants (SRL), the fine dining chain in India with its flagship brand Mainland China is eyeing expansion in three phases with 45 new restaurants over the next three years.

BS Reporter