HC quashes CPP regime -- TRAI directed to devise alternative scheme
THE Delhi High Court on Tuesday quashed the Telecom Regulatory Authority of India's proposed inter-connection charges for cellular mobile service providers and the proposed calling party pays (CPP) regime, in which incoming calls to mobiles were to be ma de free.

Strike hits 50 pc operations at ports
THE Union Government on Tuesday said that the port workers strike has affected 50 per cent of the normal level of operations at the 11 major ports in the country.

Excise exemption restored for cigarette units in N-E
IN a major volte-face, the Finance Ministry has restored the excise duty exemption granted to units manufacturing cigarettes and other tobacco products in the North East.

Karnataka Govt stock oversubscribed
THE Rs. 200-crore 10-year Karnataka Government stock was oversubscribed over eight times at the auction held here on Tuesday.

Negative list for FDI soon: Maran
A NEGATIVE list relating to foreign direct investment (FDI) is expected to be announced by the Government within a fortnight. This would imply that barring a few sectors such as defence, atomic energy, narcotics etc., FDI in the rest of the sectors would be permitted through the automatic route.

ICICI Bank drops deposit rates
ICICI Bank today reduced deposit rates by one percentage point (100 basis points) for longer term maturities and 0.5 percentage point (50 basis points) for shorter term maturities.

Tata Tea GDR issue to get Ministry nod
THE Finance Ministry is set to clear the proposal of Tata Tea Ltd for a Global Depository Receipts (GDRs) offering aggregating 50 million pounds ($ 80 millions), which will help the company part finance its acquisition of brands of Tetley, UK.

Max India: The investing angle
THE valuation of the Max India stock may perk up in the short-term on the back of its investments in the IT sector and the dividend announcement. The company has proposed a dividend of 250 per cent. Having just completed the merger of Max Corp (a wholly-owned subsidiary) with itself, the company is sitting on a pile of cash.

Aditya Birla group ties up with Lawson Software
THE Aditya Birla Group today announced the formation of an alliance with the US-based Lawson Software.

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