Close to 12000 hectares of forest land have been diverted in the state in the past 10 years for mining activities and also to make way for industries in sectors like steel, aluminium, power and petroleum refining.

Orissa diverts 12,000 ha forest land for mining industries

Business Standard

Trades between FIIs generated a volume of Rs 24 crore on the BSE Tuesday-an decrease of 61.28% from Rs 62 crore clocked on Monday. As many as six stocks witnessed trades of 6.62 lakh shares on Tuesday.

FII-TO-FII TRADES: PNB traded at 6% premium

Opposition parties attacked the government today for the &lsquo;obscenity&rsquo; of its poverty estimate figures. Both the Communist Party of India (Marxist) and the Bharatiya Janata Party (BJP) asked the Prime Minister to direct the Planning Commission not to be &ldquo;dishonest&rdquo; about enumerating the poor to just reduce subsidies.

Opposition attacks govt, Plan Panel on 'absurd' poverty figures

Mukul Roy, 58, took charge as Union railway minister on Tuesday, even as at least 15 persons died in a rail collision in Uttar Pradesh.

Mukul Roy takes charge partial rollback of rail fare hike likely

Netherlands-based onicel Worldwide, manufacturers of industrialised paper Honeycomb products, is setting up a plant in Chennai at an investment of Rs 60 crore through Honicel India Pvt Ltd.

Dutch company to set up new plant in India

Hyderabad-based public sector undertaking Bharat Dynamics Limited (BDL) is ready with proposals worth Rs 34,000 crore during the 12th Five-Year Plan and 13th Five-Year Plan. These will result in the development of the areas as well as provide employment to the people, according to Union minister of state for defence M M Pallam Raju.

Bharat Dynamics in expansion mode

Faced with criticism from opposition parties and civil society on its poverty estimates, the Planning Commission on Tuesday defended its calculations, albeit pointing to &ldquo;serious&rdquo; discrepancy in data on consumption expenditure.

Govt defends poverty estimates

Kingfisher Airlines got another reprieve on Tuesday, as the directorate general of civil aviation (DGCA) decided not to suspend its operations. But the regulator raised apprehensions about the troubled carrier&rsquo;s ability to stick to the new flight schedule.

Kingfisher gets DGCA reprieve

Karnataka&rsquo;s economy recorded a compounded annual growth rate (CAGR) of 8 per cent during the Eleventh Five-Year Plan period (EFP).

Economy grew 8% CAGR during XI Plan

Aided by the strong growth of services sector, the Karnataka economy is likely to grow at 6.4 per cent (gross state domestic product at constant prices 2004-05) in 2011-12, which is marginally lower than the all India average of 6.9 per cent. The decline is largely attributed to the state&rsquo;s economy being more exposed to external trade compared to the national economy.

Service sector propels Karnataka's growth

Capital market regulator Securities and Exchange Board of India (Sebi) is planning to tweak rules governing related-party transactions and appointment of independent directors in order to bring in more transparency. Usha Narayanan, executive director, Sebi said the structure of Indian companies is such that they are controlled by single set of shareholders and they have a say in appointment of independent directors.

Sebi to tweak transaction norms 

Orissa is set to get 1755 MW additional power by 2013 as state share from six independent coal-based power plants that are expected to go on stream by then and also from expansion projects of Central PSU- National Thermal Power Corporation (NTPC).

State to get 1,755 MW additional power by 2013

Sebi is reviewing regulations that allow companies without any profitability or track record to raise capital and list on the main bourses. Usha Narayanan, executive director at Sebi, said the regulator was considering asking smaller companies to list on the SME platform initially. Speaking at the Oxford-India business forum 2012, she said, &ldquo;Smaller issues are the ones which are creating the most problems in terms of surveillance, manipulation or illiquidity.

SME exchange for smaller firms

Sugarcane growers of Karnataka have decided to launch an indefinite stir in Bangalore on March 21 to protest the delay in payment for their produce.

Worries pile up for Karnataka cane farmers

Raising objections to the two interlocutors nominated by the Naxals for holding talks with the state government on abduction of the Italian tourists, Chief Minister Naveen Patnaik has appealed to the ultras to suggest alternative names.

Navin Patnaik asks for alternative Naxal interlocutors

Domestic institutional investors (DIIs) were net sellers of Rs 120.35 crore (provisional) today, according to data released by BSE.

DIIs net sell Rs 120 cr, FIIs net buy Rs 111cr

Trades between FIIs generated a volume of Rs 9.83 crore on the BSE Monday-an decrease of 51.56% from Rs 20 crore clocked on Friday. As many as four stocks witnessed trades of 3.54 lakh shares on Monday.

FII-TO-FII: Pantaloon traded at 6% premium

The Indian Institute of Management-Bangalore (IIMB), on Monday said students of the post-graduate programme (PGP) from the Class of 2012 had received an overwhelming response from recruiters for the final placement programme. According to the institute, amidst the fears and gloom of the global slowdown, around 363 students from the institute had bagged job offers which is the largest group in the history of the business school. Eight students, including two students who received pre-placement offers, opted out of the placement process to turn entrepreneurs. The IIMB adopted a new format of placement this season wherein it would take place only during the weekend. The placement drive that took place on the third and fourth weekend of February, concluded with a total of around 423 job offers, including 41 international offers.

Amidst fear of crisis IIM-B completes placement

Mounting pressure on his party, Bharatiya Janata Party leader and former chief minister of Karnataka, B S Yeddyurappa, on Monday claimed to have support of a large section of Members of Legislative Assembly (MLAs) and wants to be reinstated at the top post replacing D V Sadanand Gowda. Last August Yeddyurappa had agreed to resign from the top post after BJP president Nitin Gadkari assured him he would be reinstated within 24-hours if he is cleared of the corruption charges that were levelled against him in the Lokayukta report.

BS Reporter