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The
troubled life and times of Rahul Mahajan
 New
Delhi: His life is the kind of spectacle that television
thrives on. One reason perhaps is that Rahul Mahajan
understands television very well.
Not so long ago, when he was still an unknown entity,
Rahul Mahajan was a television producer for Doordarshan
but the spotlight turned on him, in May 2006 when
he lost his father to an alleged fratricide and
even before that faded in public memory, came another
shocker.
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1984
Sikh carnage was wrong: Rahul
 Amritsar,
November 18 Congress general secretary Rahul Gandhi
condemned the anti-Sikh violence in the aftermath
of Indira Gandhi’s assassination, saying “whatever
happened was wrong”.
“The 1984 riots were wrong. I strongly condemn
the carnage,” Rahul said at a news conference
in response to a question on Operation Bluestar
and the riots. “There is no truth that there
is hatred among Sikhs against the Congress party.
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full story |
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Indian
Navy sinks pirate vessel off Somali coast
 Gulf
of Aden, Nov 19: Within days of preventing the hijack
of an Indian merchant vessel, Indian Navy’s
warship INS Tabar, after exchange of fire, sank
a pirate vessel off the Somali coast.
view
full story |
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FM calls for
price cuts, CEOs divided
 NEW
DELHI: Finance minister P Chidambaram on Tuesday
called on sectors like housing, automobiles, hotels
and airlines to cut prices to boost demand
and beat the slowdown. The auto sector ruled
this out as unrealistic in the current situation,
while airlines — looking for
a lifeline from the government —
seemed more receptive to the suggestion. Real estate
companies, however, remained noncommittal.
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Season of
pinkslips? Here are the firms hiring in India
 NEW
DELHI: Citigroup on Tuesday decided to cut 53,000
more jobs, triggering fears of more layoffs across
industries. A lowdown on some sectors and companies
which are on a hiring spree (TOI) TOI, however,
has decided to be contrarian. Instead of only writing
about pink slips, it hunted out companies that are
actually hiring. Here are the sectors that are hiring:
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FM calls for price cuts, CEOs divided
NEW
DELHI: Finance minister P Chidambaram on Tuesday
called on sectors like housing, automobiles, hotels
and airlines to cut prices to boost demand
and beat the slowdown. The auto sector ruled
this out as unrealistic in the current situation,
while airlines — looking for
a lifeline from the government —
seemed more receptive to the suggestion. Real estate
companies, however, remained noncommittal.
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Season of pinkslips? Here are the firms
hiring in India
NEW DELHI: Citigroup on Tuesday decided to cut 53,000
more jobs, triggering fears of more layoffs across
industries. A lowdown on some sectors and companies
which are on a hiring spree (TOI) TOI, however,
has decided to be contrarian. Instead of only writing
about pink slips, it hunted out companies that are
actually hiring. Here are the sectors that are hiring:
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Pepsi drops Tendulkar, opts for cricket's
Youngistan
New Delhi: Completing
a phase-out of its aging cricket brand ambassadors,
soft drinks major Pepsi has dropped master blaster
Sachin Tendulkar, whose long-standing contract with
the company expired in May.
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ICICI launches net account with auto sweep-in
for term deposits
MUMBAI: ICICI Bank on Monday
launched a pure online account where deposits above
Rs 5,000 are automatically swept into a term deposit
scheme with interest rates in the region of 8-8.5%.
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Praful Patel to meet PM, plead for airlines
New Delhi: Civil Aviation
Minister Praful Patel will meet Prime Minister Manmohan
Singh on Wednesday to discuss rising aviation fuel
prices that have caused massive losses to airlines.Government
sources says Patel will ask for aviation turbine fuel
(ATF) to be brought under declared goods category,
which will bring down the sales tax to a uniform 4
per cent across the country.
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Global broadcasters of cricket to be taxed
in India
Global broadcasters making
big money from live telecast of cricket matches in
India will have to pay taxes here, ruled the Commissioner
of Income Tax (CIT) while dismissing the plea of sports
channel Nimbus, which said that it was not liable
to be taxed. Although the Singapore-based World Sports
Nimbus (WSN) has decided to file an appeal against
the CIT (Appeals) order with the Income Tax Appellate
Tribunal (ITAT), the tax case will have wide implications
for foreign companies telecasting live cricket matches.
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Oil prices hit automakers; GM closing truck,
SUV plants
New Delhi: High crude prices
have hit the auto makers hard. General Motors is shutting
down its pick-up and SUV plants in the US, Canada
and Mexico in the next two years. Each plant has over
2,500 employees. GM is also looking at selling its
popular Hummer brand that’s because rising fuel
prices have changed consumer preference. People choose
smaller cars over the truck models.
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Sony may have made Rs 300 cr in first IPL
season
Mumbai: With 24 million
people tuning in IPL, initial reports suggest that
television broadcaster Sony may have made Rs 300 crores
in the first season of the IPL. Lapping up the final
IPL match were 24 million viewers and preliminary
ratings by daily online rating agency aMAP show that
the finale clocked an average rating of 7.7, peaking
at 10.2.
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Tata Motors sales up by nine per cent
Mumbai: Tata Motors reported
a total sale of 46,339 vehicles (including exports)
for the month of May 2008 against 42,558 in the year-ago
period, recording a growth of nine per cent.The company
said that its domestic sales increased by 15 per cent
during the month at 23,682 units, against 20,675 units
in May 2007. Its M&HCV and LCV sales recorded
a growth respectively of 12 per cent and 17 per cent
over May 2007.
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Jet mulling fare hike, may levy surcharge
on baggage
Berlin: Jet Airways is considering
a surcharge on check-in baggage. Jet Airways Chairman
Naresh Goyal said airlines have to look at additional
revenue sources in view of mounting losses.
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Vodafone CEO Arun Sarin to step down in
July
New Delhi: According to
reports in Britain's Daily Telegraph newspaper, Vodafone
group's CEO, Arun Sarin, will announce on Tuesday
that he will step down in July and hand over to his
deputy, Vittorio Colao.
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SBI increases interest rates on domestic
term deposit
Mumbai: India's largest
bank, State Bank of India on Monday revised upwards
interest rates on deposits of two years and more with
effect from June 1. The deposits for duration two
years to less than three years will now earn an interest
of 8.75 per cent, the same as deposits of one year
to less than two years, a press release said.
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India attracts USD 25 billion FDI in 2007-08
London: Foreign Direct Investment
into India has surged to over USD 25 billion in 2007-08
and the country's Foreign Exchange Reserve crossed
USD 341 billion as of today, Ashwani Kumar, Minister
of State for Commerce and Industry has said.
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Storms destroy quarter of mango crop in
north India
New Delhi: Repeated storms
in northern India since May 14 have destroyed almost
25 per cent of the region's mango crop and Uttar Pradesh
is the worst affected, according to a government estimate.
"The storms have substantially damaged the mango
crop. The loss would not be less than 25 per cent.
The details are being sought from different states,"
said an agriculture ministry official.
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'Bharti-MTN deal would be celebrated in
India'
London: Indians will celebrate
if Bharti Airtel Limited and South African telecom
operator MTN Group strike a deal, Minister of State
for Industry Ashwani Kumar told a large gathering
of investors on Monday. "Indian companies are
now firmly established on the world stage, and the
Bhart-MTN talks are only the latest example of this,"
Kumar said while launching a two-day India Investors
Summit in London.
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It is India's century,
not China's: Kamal Nath
New York: The 21st century
is going to be India's, not China's, because it
is the fastest growing free market economy, Commerce
and Industry Minister Kamal Nath has said. "China's
growth rate is much better than ours today but what
was it 14 years ago?" he asked while defending
the title of his book, "India's Century".
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Wal-Mart posts record profit on discount prices
New York: Wal-Mart Stores,
the world’s biggest retailer, reported record
quarterly earnings and sales but sounded a cautious
note on the weak U.S. economy.
The global discounter rang up a record $3.022 billion
net income for fiscal 2009 Q1 ended April 30, an increase
of 6.9% from the same period in 2008.
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Mittal is chairman of
ArcelorMittal
LUXEMBOURG: ArcelorMittal
chief executive Lakshmi Mittal became the chairman
of the steelmaker on Tuesday, increasing his control
over the company. Two years after the end of the takeover
battle that finally led to the friendly purchase of
Arcelor by Mittal Steel, tycoon Mittal achieved his
ambition of leading a company that produces over 100
million tonnes of steel a year and is about three
times bigger than its nearest rival.
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