Nod for 29 FDI projects

New Delhi, May 4: Finance minister P. Chidambaram today cleared 29 foreign direct investment proposals worth Rs 147 crore on the recommendations of the Foreign Investment Promotion Board. The projects include a Rs 65.5-crore worth proposal from Hong Kong based IBM Products to set up a 100 per cent subsidiary. Belersdorf AG, the German partner of Nivea India, has got the go-ahead signal to set up a 100 per cent subsidiary at an investment of Rs 17 crore.

ICAI exam

New Delhi, May 4: The Institute of Chartered Accountants of India (ICAI) has postponed an examination from May 5 to May 11 due to opening of a wrong envelope containing the question papers at one of the centres. The venues of paper 4 on corporate laws and secretarial practice of group-1 of the chartered accountants final examination will remain unchanged. The timing will remain intact and admit cards will be valid.

Herbertsons

New Delhi, May 4: The Supreme Court has approved a Rs 131-crore settlement between Chhabrias and Vijay Mallya?s UB Group over the latter?s acquisition of Herbertsons.

Kingfisher Air

New Delhi, May 4: Kingfisher Airlines today got the operational permit from the civil aviation ministry, recognising it as a scheduled carrier and enabling it to launch flights from Monday.