Bangalore-based defence PSU BEML has reported a 55.3 per cent drop in its net profit at Rs 70.25 crore for the fourth quarter-ended March 31, 2011, compared to the corresponding quarter last fiscal. The company has also reported a 23.3 per cent drop in its total sales income at Rs 1,152 crore as against Rs 1,502 crore reported during the year ago period.

Higher staff cost pulls down BEML net

Business Standard

The Karnataka Industrial Area Development Board (KIADB) is developing an industrial estate at Kadakola, near the Nanjangud industrial area, on Mysore-Ooty highway.

Industrial park being developed near Mysore

Election to the post of Speaker of the Kerala Assembly will be held today. The ruling United Democratic Front (UDF) has fielded G Karthikeyan, a senior Congress leader and former power minister, for the post, while A K Balan, also a former power minister, will contest from the opposition side.

Kerala Assembly Speaker to be elected today

Northern Technologies International Corporation and Harita NTI (HNTI), a TVS Group company, have signed an MoU with ITC Limited for joint development and commercialisation of biopolymer paper products targeted at the burgeoning consumer goods packaging market in India.

Biopolymer paper firm ties up with ITC group

The Life Insurance Corporation (LIC) of India's south zone, which covers Andhra Pradesh and Karnataka, has registered a total new premium income of Rs 13,000 crore in 2010-11, which represents a 50 per cent growth over the previous year.

LIC south zone sees 50 pc premium growth in FY11

&ldquo;I am not an enemy of Orissa. I am as much an Oriya in heart as anybody in the state. Every morning I start my day after listening to the recital of Geet Gobind by noted Oriya vocalist Raghunath Panigrahi,&rdquo; asserted Union minister for Environment and Forest, Jairam Ramesh, while addressing the inauguration ceremony of the North East Biodiversity gallery at Regional Museum of Natural History, here today.

I am not an enemy of Orissa: Jairam Ramesh

In January this year, it surprised the aviation world by placing an audacious $15.6-billion order on Airbus for 180 new A-320neo upgraded aircraft, to be delivered from 2015. It was touted as one of the largest aircraft deals globally.

Nothing audacious this time

After roping in the likes of Energie and Elle, Ahmedabad-based textile major Arvind Ltd. has now tied up with yet another major international brand, Geoffrey Beene, LLC for apparel and non-apparel products. Under an agreement, Arvind Retail Ltd., a vertically integrated arm of Arvind Ltd.

Arvind joins hands with US-based Geoffrey Beene

After successfully initiating the land acquisition work for the Rs 54,000-crore Posco project, the Orissa government has now shown its readiness to start the same process for another big ticket investor- ArcelorMittal, the world's biggest steel maker that has proposed to set up a 12 million tonne per annum (mtpa) steel plant in the state at a cost of around Rs 40,000 crore.

Orissa to speed up land acquisition for ArcelorMittal

Hindustan Copper Limited (HCL) has decided to revive its two closed mines at Kendadih and Rakha in Singhbhum district through outsourcing. Open tenders will soon be floated from private player to revive the two mines that were closed for over two decades.

Hind Copper to revive two copper mines

In a rebuttal to accusations by the West Bengal government that the earlier Left Front government has thrust a huge debt burden on West Bengal, Asim Dasgupta, former finance minister of West Bengal said that the huge debt was on account of salary pay revision and denial of coal royalty amounting to Rs 5,000 crore
Meanwhile, Amit Mitra, finance minister of West Bengal reiterated that the state's debt would increase to more than Rs 2,00,000 crore this year, due to huge liabilities of the earlier

Dasgupta rebuffs Mitra's accusations on debt burden

Ahmedabad-based diversified business conglomerate, Adani Group today completed the acquisition of Australia's Abbot Point port by paying AUD $ 1,829 million (aprox. Rs 8,900 crore). The Adani group promoted Mundra Port and Special Economic Zone (MPSEZ) is now looking at expanding the capacity of Abbot Point X 50 Coal Terminal (APCT). The acquisition Down Under by Adani is the largest in Australia by any Indian company.

Adani completes Abbot Point acquisition to expand Oz port

Tamil Nadu chief minister and All India Anna Dravida Munnetra Kazhagam (AIADMK) supremo J Jayalalithaa today launched the free rice scheme, which was promised in party's 2011 Assembly manifesto.

Jaya launches free rice scheme in Chennai

After dissolving the Bhangar-Rajarhat Area Development Authority (BRADA), set up during the Left Front regime, the new government is likely to effect a major change in the West Bengal Housing Board set-up, secretariat sources said today.

After dissolving BRADA, major change in Housing Board likely

Press Trust of India

Kochi-based kraft paper manufacturer Sree Sakthi Paper Mills Limited (SSPML) has reported a net profit of Rs 1.99 crore for the quarter ended March 31, 2011, up 56 per cent from Rs 1.28 crore in the corresponding period a year ago.

Sree Sakthi Paper Q4 net up 56 pc

The army has entered into the naxal infested region of Chhattisgarh. This entry, however, is not intended at any combat but for training commandos in the jungle warfare.

Army moves into naxal region for training jawans

Gujarat-based CNG pump owners observed a day's strike to protest against the reduction in the commission offered by the oil marketing public sector units (PSU) to them.

State CNG dealers shut shops for a day

With enhanced iron ore royalty driving the mining sector revenues of mineral-rich states, Andhra Pradesh, which lost its top rank for the first time in 2010-11, is now looking at ways to utilise low-grade iron ore deposits to boost revenues.

AP looks at low-grade ore deposits to boost revenues

WestBridge Capital Partners, which was revived during mid-February 2011, is understood to have got soft commitments to the tune of $200 million within a period of just three months from a range of global bluechip limited partners who are looking to deploy their resources in India. According to private equity industry players, WestBridge is expected to get commitments of $500 million by the end of 2011. WestBridge Capital Partners offered not to comment.

WestBridge gets commitments of $200 mn in three months

A team of Central Vigilance Commission (CVC) has started probe against DS Constructions (DSC) Limited in the alleged irregularities committed in maintaining the Raipur-Durg expressway that the company had constructed on Build-Operate-Transfer (BOT) model.

CVC starts probe against DS Constructions

Except &lsquo;Operation Kamala&rsquo;, the ruling Bharatiya Janata Party (BJP) has not achieved any progress through misleading claims and promises, three Janata Dal legislators criticised in Mysore today.

BJP misleading public on progress, JD(S)

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