Telecom operator Etisalat DB on Wednesday said it is shutting operations, three weeks after the Supreme Court cancelled its licences.

Etisalat DB to shut operations

Business Standard

Trades between FIIs generated a volume of Rs 35 crore on the BSE Wednesday-an decrease of 7.62% from Rs 37 crore clocked on Tuesday. As many as five stocks witnessed trades of 7.84 lakh shares on Wednesday.

FII-TO-FII TRADES: BoB traded at 10% premium

Four months after Dunlop management shut down its Sahaganj factory in West Bengal, the beleaguered tyre maker on Wednesday declared suspension of work at its Ambattur plant (near Chennai ) too, alleging labour unrest.

Dunlop suspends work at Ambattur plant

The slowdown in the life insurance industry has taken a toll on individual agents. According to data collected by Life Insurance Council, around 331,000 agents lost their jobs in the April-December period, resulting in a 34 per cent drop in new premium collection from agency channels.

Slowdown in insurance sector hits agents hard

Smart Track Solar Systems Private Limited, a Hyderabad-based start up providing tracking systems for solar photo voltaic panels, on Wednesday said it had made Rs 2 crore in revenues in the first year this year by implementing 2 Mw solar power projects.

Smart Track implements 2 Mw solar projects

Alternative funding mechanism is the need of the hour to solve the financial issues of micro, small and medium enterprises (MSMEs).

Alternative funding for MSMEs sought

To increase the retail lending and give thrust to the home loan portfolio, Vijaya Bank has launched a special campaign by reducing the rate of interest on home loans by 0.25 per cent and 50 per cent concession on processing charges from February 1 to April 30, 2012. The minimum rate of interest offered to the customers is 10.75 per cent per annum and processing charges have been reduced by 50 per cent.

Vijaya Bank cuts home loan rates

With early signs of improvement in the market sentiments and talks of a likely cut in the Cash Reserve Ratio (CRR), public sector lender Canara Bank is now hoping to get back to a Credit Deposit Ratio (CDR) of around 72 per cent from the present 69 per cent. This apart, the bank is anticipating a rise in net interest margin (NIM) to 2.9 per cent from the current 2.6 per cent next fiscal.

Canara Bank hopes to improve credit growth, NIM next fiscal

Pune-based&nbsp;Hager Group, a supplier of systems, solutions and services for electrical installations, informed that it has acquired Elcom International, a German company in video door phone domain at an undisclosed value.

Hager Group acquires ELCOM of Germany

Germany-based global executive search and HR consultancy firm Steinbach &amp; Partner has entered in India by floating a wholly-owned subsidiary called Steinbach and Partner Executive Consultants India Private Limited in Pune.

German firm sets up subsidiary in Pune

The national apex body of management professionals, All India Management Association (AIMA) has signed a memorandum of understanding (MoU) with the Management Association of Pakistan (MAP), as an effort to facilitate the interaction between management professionals of India and Pakistan.

AIMA in pact with Pak's MAP

Dr C Rangarajan, chairman, Economic Advisory Council to the Prime Minister, released the document &lsquo;Review of the Economy 2011-12&rsquo; at a Press Conference in New Delhi today.

PMEAC review of the economy: A summary

Having tied up with the Gujarat government, Bangalore-based Tally Solutions Pvt. Ltd is set to train about 10,000 youngsters from the below poverty line (BPL) families and assist them in employment within the state.

Tally to train 10K BPL youths in state

Finance Minister Pranab Mukherjee on Wednesday expressed the hope that the government would meet its indirect tax collection target this year despite a slowing economy.

FM hopeful of meeting FY12 indirect tax target

At a time when disinvestment of Rs 40,000 crore for 2011-12 is set to just remain a target, the PMEAC has advised against cross holdings as a desirable option.

No to cross holdings 

C Rangarajan, chairman of the Prime Minister&rsquo;s Economic Advisory Council, said he favoured open market operations (OMOs) to manage liquidity instead of cash reserve ratio cut.

OMOs better than CRR cuts

The proposal of the Department of Telecommunications (DoT) to charge for additional spectrum beyond contractual limit from incumbent GSM players on a prospective basis, rather than retrospectively, would lead to a loss of about Rs 20,000 crore to the government, according to CDMA operators&rsquo; association, Auspi.

DoT's 2G pricing proposal may lead to Rs 20,000-cr loss

Ajoy Menon, who until recently was heading the Insurance vertical at Wipro Technologies as its Global vertical head, has joined IBM as the director of global technology services. He was a vice-president at Wipro Technologies was also heading the financial services business of the company in the UK. On being asked, a Wipro spokesperson confirmed his exit.

Wipro's global insurance vertical head quits

Econet Wireless is seeking at least $3.1 billion in damages from&nbsp;Bharti Airtel in a dispute over ownership of its subsidiary Airtel Nigeria, according to a suit filed on Wednesday.

Econet seeks $3.1-bn damages from Bharti

Only five Indian companies would be in a position to choose most available redemption options for their foreign currency convertible bonds (FCCBs), due for redemption this year, according to a report by Fitch. The rating agency said of the $7 billion FCCBs, 20 per cent were likely to face a default, owing to the stressed liquidity position of the companies.

'Few FCCB re-pay options for India Inc'

Domestic institutional investors (DIIs) were net sellers of Rs 1,332.90 crore (provisional) today, according to data released by BSE.

BS Reporter