Finmin out to get banks’ loan goons
NEW DELHI, Dec 3: Winding up the debate on the Payment and Settlement Systems Bill, 2006, P Chidambaram said the loans needed to be recovered, but the banks should follow legal ways.

RIL-Gail to hunt for biz abroad
MUMBAI, Dec 4: Reliance Industries (RIL) and Gail (India) on Tuesday agreed to jointly explore opportunities for setting up petrochemical complexes outside India in feedstock- rich countries, RIL said in a media statement.

Sebi to allow below investment grade bonds
Mumbai, Dec 3: The Securities and Exchange Board of India (Sebi) on Monday relaxed rules for corporate bond issuances by allowing below investment grade debt instruments to collect funds through public and rights issuances.

Cement cos warned against cartelisation
NEW DELHI, Dec 4: The government on Tuesday warned that it will crack down on the cement industry if it detects any cartelisation in the sector.

SEZ cap may go soon
New Delhi, Dec 3: Special economic zones (SEZs) of India’s largest private sector company Reliance Industries Ltd and real estate majors DLF and Omaxe will get a major boost with the Commerce Ministry mulling a relaxation of the 5,000- hectare cap on the land size of these zones.

Service charges are not wages, says SC
NEW DELHI, Dec 4: The Supreme Court ruled on Tuesday that tips or service charge paid by customers to the hotel staff did not amount to “wages” and could not be taken into account for payment of premium to the Employees’ State Insurance (ESI) Corporation by the industrial establishment.

NRI entrepreneurs buy gaming co worth 1bn euros
Mumbai, Dec 3: Non resident Indian entrepreneurs Subodh Agarwal and Darshan Desai, promoters of London-based Euromax Capital, have bought one of the world’ s largest gaming company, Italy’s Nextra International, along with Italian billionaire investor Alessandro Benedetti.

Probe into terror funding on, says FM
NEW DELHI, Dec 4: Union Finance Minister P Chidambaram on Tuesday admitted that at least one company has been suspected for dubious investment through investments in Indian share markets.

ABB plans $100mn expansion
Bengaluru, Dec 3: ABB, the $25 billion global player in power and automation technologies, is investing a further $100 million over the next three years in India for capacity and range expansion. The company has just completed a $100 million capital expenditure plan, which was announced during November 2004.

Malaysia beckons shopaholic Indians
NEW DELHI, Dec 4: Even as it struggles to control an agitation by ethnic Indians, Malaysia on Tuesday announced a special package for travellers from this country for its annual "Year-end Sale" that offers discounts of up to 70 per cent on shopping.

India Inc now eyes opportunities overseas
New Delhi, Dec 3: While the rupee’s sharp rally is becoming a cause for heartburn among exporters, it is giving attractive foreign acquisition opportunities to some of the big corporate houses such as Mahindra and Godrej.

Oil softens to $85 per barrel
NEW DELHI, Dec 4: In line with the softening of international crude oil prices, the price of the Indian basket of crude oil also slid from their all time high of $92.13 per barrel on November 26 to $85.29 on Monday, the latest day for which data is available.

India becoming a force to reckon with in global markets: Report
New Delhi, Dec 3: Larsen and Toubro, Suzlon and Bharat Forge may be names not big enough on the global arena as of now, but they along with domestic giants like Tatas, Birla, Mahindra and Ambanis figure among 100 firms posing an “urgent threat to industry leaders” of the world.