Month: February 2009

The government is mulling to extend the seven-year tax exemption for producing natural gas soon, as applicable to the production of crude oil. It is expected that the government would remove certain anomalies related to the definition of mineral oil and not to further provide for any fresh tax incentive. As of now, crude oil … Read more RIL proposal under consideration for extending tax holiday

India’s mobile phone major – Bharti Airtel – has bagged the ISO 27001 certification for its information security management system, across 300 locations and over 40,000 information assets, becoming the first enterprise globally to have received such a certification. The company announced that has been awarded 29 ISO 27001:2005 certificates by the British Standards Institute. … Read more Bharti Airtel wants to be India’s Most Trusted Brand

Employees of the India’s central bank – Reserve Bank of India (RBI) — will go on a one-day strike on Friday to protest against the pension policy, Samir Ghosh, general secretary of the All India Reserve Bank of India Employees Association announced. The strike is likely to affect cheque clearing operations and settlement transactions in … Read more RBI staff to go on one-day strike on Friday

Scam-hit software exporter – Satyam Computer Services – has called back more than 1,500 employees based in various onshore locations in the US and Asia Pacific, due to projects they have been associated with either being shut down or being terminated. The first batch of 170 employees attached to State Farm Insurance, an insurance company … Read more Satyam recalls 1,500 onsite employees based in US, Asia Pacific

In FY09 YTD, Power Grid has approved investments in transmission projects with estimated cost of Rs269b. This compares with total investment approval of Rs25b in FY08, and thus represents an increase of 11x. Post project approvals of Rs269b in FY09, projects under implementation now increases to Rs480b+, indicating that a large part of the targeted … Read more PowerGrid Corporation – Investment approvals of Rs269b

The Gujarat government-promoted Gujarat State Petroleum Corporation (GSPC) is planning to set up two greenfield thermal power plants with a capacity to generate 1,000 MW each, infusing around Rs 7,000 crore for the two projects. GSPC has identified the two projects as at Banaskantha and other at Vadnagar for setting up gas based power projects. … Read more GSPC mulls 1000 MW greenfield power projects