India News

Air Sahara on Thursday announced a 10 per cent fare hike to offset a steep rise in international prices of aviation turbine fuel.Indian Airlines and Jet Airways are also expected to announce a similar hike, aviation industry sources said.

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Thiruvananthapuram-based IBS software services has entered into a multi-year agreement with Canadian airline, Westjet, for aiRES, the new generation Passenger Services System (PSS).

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India and France will sign an agreement today for six Scorpene submarines. The deal is worth $3.5 billion.The French submarines will be manufactured at India's Mazagaon docks. Under the pact, France will transfer the technology to India.

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In a major move to increase its market share in the domestic market Glenmark Pharmaceuticals Ltd (Glenmark) today announced the launch of a new division, Milieus, in Tamil Nadu.

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Reliance Industries Ltd. has shut its main gasoline-making unit for 45 days of maintenance and is expected to shut its crude distillation unit by the middle of next week, a company source said on Thursday.

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Crude futures slipped to two-month lows amid signs that US demand for gasoline may be waning because of high prices at fuel pumps.

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A negative list to be prepared; minor unorganised services may be kept out.The government may increase service tax to 15 per cent from April 2006 from 10 per cent at present. 

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In a serious blow to the plans of the government to generate additional electricity by June 2006, the commissioning of the ambitious 450 MW Baglihar Hydro Electric Project on river Chenab at Chanderkote in Doda district has been officially delayed by a year.

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The empowered committee of state finance ministers on value-added tax has agreed to cut central sales tax to 2 per cent from 4 per cent from April 1, 2006, as the first step towards the abolition of CST.

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First ever acquisition of an American CRO by an Indian company.Shyam and Hari Bhartia-controlled Jubilant Organosys Ltd has acquired 100 per cent equity in Target Research Associates, a US-based clinical research organisation, for $33.5 million (around Rs 145 crore) in an all-cash deal. 

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India, China and Russia will suffer losses of billions of dollars in national income over the next decade unless investments are made to prevent rising levels of chronic diseases, a WHO report warned on Wednesday.

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Tata Power plans to set up a 3,000 Mw mega-power project in Jharkhand with an investment of around Rs 12,000 crore. The company, which signed an agreement with the Jharkhand government today, will also look at captive coal mining facilities in the state.

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