The Gujarat High Court on Wednesday stayed construction and further development activities by all units in the Adani Group-owned Mundra Port Special Economic Zone (now Adani Port Special Economic Zone (APSEZ)) in Mundra taluka of Kutch district, till environmental clearance is granted by the Union Ministry of Environment and Forests (MoEF).

Guj HC stays construction in APSEZ till environmental clearance from MoEF

Business Standard

The claim by Karnataka Minister for Major and Medium Industries Murugesh Nirani that farmers in Halligudi and other villages in Gadag district were willing to part with their land to accommodate Posco Steel Industry, has again set off some ripples in the region.

Farmers refute Nirani's claim on land acquisition

Media conglomerate Network18 Group widened its net loss to Rs 168.1 crore for the fourth quarter ended March 31, 2012, from Rs 44.1 crore recorded during the corresponding period in the previous financial year.

Network18 Group widens net loss to Rs 168 cr in Q4

In a bid to cash in on the declining denim capacities in China, textile conglomerate Arvind Ltd. is set to partner with a local denim mill there to tap the Chinese market. The textile conglomerate is banking on its superior quality denim fabric to make a mark in the neighbouring country.

Arvind to partner with Chinese mill for denim

The Narendra Modi government on Wednesday did not mince words to express its displeasure over the media reports on the Special Investigation Team's (SIT) report with regard the complaint against the Chief Minister by Zakia Jaffery.

Modi govt irked over SIT report issue

A weak euro and political uncertainties in the euro zone have led to a significant drop in gold prices in international markets. The yellow metal fell 3.1 per cent to $1,587.4 an ounce, from $1,638.5 on Monday. In Mumbai, the metal lost 1.7 per cent in two days to close at a three-week low of Rs 28,550 per 10g on Wednesday. Similarly, silver lost three per cent in the domestic market to close at Rs 54,350 a kg in the Mumbai market. A weak rupee curtailed the decline in domestic markets.

Gold weakens on political uncertainty in euro zone

Punjab National Bank (PNB) on Wednesday reported a 18.6 per cent rise in net profit to Rs 1,424 crore for the quarter ended March 31, against Rs 1,201 crore in the fourth quarter of the previous year. The increase came on account of a rise in interest income and lower provisioning during the quarter.

PNB net up 18.6% on interest income

The consumer confidence in the country improved marginally in April, a fourth straight month of upward trend. In urban areas, though, the undertone still remains that of pessimism, according to the Consumer Confidence Index (CCI) by BluFin.

Consumer confidence improves in April

Despite higher provisioning, public sector lender Union Bank of India on Wednesday reported a 29.3 per cent rise in net profit for the quarter ended March 31, on the back of healthy recovery from bad debts and lower employee cost. Net profit for the quarter stood at Rs 773 crore, against Rs 598 crore reported in the corresponding period a year ago.

Union Bank net profit up 29%

US-based Hollingsworth and Vose Group on Tuesday expressed willingness to set up an automobile filter manufacturing plant at Dahej in Gujarat. A delegation of the group led by their chief executive officer Wall Hollingsworth met Gujarat Chief Minister Narendra Modi in this regard.

US-based Hollingsworth and Vose Group to set up plant in Dahej

Union Bank of India reported a 29% jump in net profit at Rs 773 crore for the quarter ended March 2012. It was Rs 597 crore in the same period a year ago.

Union Bank of India Q4 up 29% at Rs 773 cr

Foreign institutional investors (FIIs) were net sellers of Rs 376.34&nbsp; crore (provisional) today, according to data released by BSE.

FIIs net sell Rs 376cr, DIIs net buy Rs 162cr

Hindalco Industries, the Aditya Birla Group flagship company, on Tuesday reported a 9.6 per cent drop in fourth-quarter net profit, compared to a year ago, due to low aluminium price on the London Metal Exchange and a steep escalation in the cost of production.

Hindalco Q4 net dips 9.6% on low aluminium price

US-based foods chain Dunkin&rsquo; Donuts has come to India just a few months ahead of the arrival of its global archrival Starbucks, by launching its first store in the national capital on Tuesday. Starbucks is expected to launch in September this year.

Dunkin' Donuts enters India

Norway&rsquo;s Telenor distanced itself further from the Indian market on Tuesday, excluding the country from its 2012 forecasts for the first time after licencing problems there led to massive writedowns that weighed on its quarterly results.

Telenor gives new guidance minus India signals exit

Dutch insurance major, AEGON has re-iterated that the company is committed to the insurance joint venture in India, AEGON Religare, and the Indian insurance market. Nor is it planning to exit the Indian market or its joint venture.

AEGON not exiting from insurance JV with Religare and India: Henck

US based Courion Corporation identity and access management for access risk is planning to expand its wings by doubling the headcount for its centre, said Dave Fowler, CEO, Courion Corporation on Tuesday in Pune. It is hiring over 40 IT professionals from various engineering colleges and institutions like C-DAC.

BS Reporter