The traders in Uttar Pradesh have demanded multifarious tax reforms in the Union Budget 2012 for boosting trade and commerce. The Budget would be presented in Parliament on March 16 after the Assembly polls in five states get over and results are declared.

UP traders demand major tax reforms

Business Standard

Early last month, India&rsquo;s leading private hospital chain, Fortis Healthcare&mdash;in which brothers Malvinder and Shivinder Singh are promoters&mdash;consummated the acquisition of Singapore-based Fortis International for $ 665 million (around Rs3,270 crore), an entity which the brothers own in its entirety.

Understanding Fortis' global sprawl

Bangalore-based Sonata Software on Tuesday said the company&rsquo;s CEO and Managing Director Sanjay Viswanathan had resigned. Viswanathan was appointed the CEO and MD of the company in August 2011 after the resignation of B Ramaswamy. According to a release from the company the present Deputy Managing Director and COO of Sonata Srikar Reddy will replace Viswanathan as the chief executive. When contacted by Business Standard, Sanjay Viswanathan, said: &ldquo;The reason for the resignation was personal and didn&rsquo;t want to comment more on it. During my career, most part of the time I was in London. I have a couple of offers now. I need some time to finalise on it.

Sonata CEO resigns

Vadodara-based Diamond Power Infrastructure Limited (DPIL) will invest Rs 753 crore towards expansion projects, which would be completed over a period of 30 months in three phases, the company informed in a statement issued on Tuesday.

DPIL to invest Rs 753 cr for expansion

Himachal Pradesh on Monday proposed a Rs 3700 crore annual plan for the next financial year.This is over 12 per cent more than last year&rsquo;s plan of Rs 3300 crore.

Himachal proposes Rs 3,700 cr annual plan

Taking note of the dependence of Punjab&rsquo;s small and marginal farmers on non-institutional sources for funds, Nabard (National Bank for Agriculture and Rural Development) has chalked out a strategy wherein the state&rsquo;s banks will provide them comprehensive financial services.

Nabard strategy to boost  rural credit in Punjab

In spite of lower demand, groundnut oil prices reached an all time high of Rs 1,810 per 15 kg tin on Tuesday, on grounds of poor availability of groundnut for crushing. Rajkot, which happens to be one of the major production centres for groundnut oil in Gujarat, saw prices of around Rs 1,805-1,810 per 15 kg tin.

Groundnut oil prices touch all-time high

Senior BJP leader and Higher Education Minister V S Acharya passed away after suffering a massive heart attack during a function here on Tuesday. Acharya (72), who was not keeping well for some time, collapsed while participating in a seminar.

V S Acharya passes away

Press Trust of India

The Indian Institute of Technology, Gandhinagar (IIT-Gn) has joined hands with US-based Underwriters Laboratories Inc. (UL), USA, a not-for-profit product safety testing and certification organisation for a student research project in solar power.

IIT-Gandhinagar, UL join hands for solar power research

Mounting prices and falling demand of Red roses on Valentine&rsquo;s Day is adding to the florists&rsquo; woos in Chhattisgarh.

Rising rose price keeps lovers at bay in Chhattisgarh

The Spices Board of India has been undertaking programmes throughout the country especially in the states of Gujarat, Rajasthan, Madhya Pradesh, and Andhra Pradesh to effectively link the spices farmers of these states to the supply chain linked to exports.

Spices Board steps in to empower farmers

With the European crisis affecting the flow of tourists from the European countries to Switzerland, the Switzerland Tourism division is focusing on countries like India to sustain growth in tourism sector.

Swiss solicits tourists from India amidst EU crisis

DPSC Ltd, one of the oldest power utility companies in India, has posted a marginal 0.37 drop in net profit for the third quarter of the financial year ended on December 31 to Rs 2.71 crore, as compared to Rs 2.72 crore for the same period previous financial year.

DPSC posts marginal drop in net profit

US-based Symphony Service Corporation, a player in global product development services for independent software vendors (ISVs) said it has entered into a definitive merger agreement with Teleca to create&nbsp;Symphony Teleca Corporation. The company is present in Indian market at centers like Pune, Delhi and Bangalore.

Symphony partners with Teleca

The Government of India has decided to phase out compensation given to states against Central Sales Tax (CST) loss from 2011-12, a move that is perceived to queer the pitch for roll out of the proposed Goods and Service Tax (GST).

Centre not to compensate states against CST loss

Daikin Air-conditioning India Ltd, the Indian arm of Japanese firm Daikin Industries, expects an annual growth of 20 per cent in the next three years in the Indian market.

Daikin India eyes 20%  growth by 2014

Mahanadi Coalfields Limited (MCL), a subsidiary of Coal India Ltd (CIL), aims to produce 103 million tonne of coal in the current fiscal, which is three per cent (three million tonne) more than the output of last year.

MCL coal output may rise 3% to 103 MT

The Orissa Modernizing Economy, Government and Administration Programme, a scheme being taken up a cost of Rs 152 crore with funding from UK-based Department for International Development (DFID) is expected to boost private investments in MSMEs (micro, small and medium enterprises) and social infrastructure.

DFID scheme to boost private investments

To maximise power bill collection amid non-cooperation of employees, the Odisha Electricity Regulatory Commission (OERC) has directed all private electricity distributing companies (Discoms) to take stern action against their agitating workers.

OERC orders strict action on power bill collection

Against the backdrop of alleged irregularities in implementation of MNREGA in Uttar Pradesh, Union Rural Development Minister Jairam Ramesh on Tuesday said the onus was also on the states to keep a &quot;strict vigil&quot; to prevent misuse of central funds and rein in corruption.

States have equal role to check MNREGA corruption: Ramesh

Ramky Infrastructure Limited, an infrastructure development company, posted a net profit of Rs 53.16 crore for the quarter ended December 31, 2011, an increase of 14.3 per cent compared with Rs 46.51 crore for the corresponding quarter previous year. Net income during the quarter stood at Rs 939.89 crore as against Rs 835.62 crore.

Ramky Infra & Vivimed Labs Q3 results

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