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Business Briefs

Centre clears 32 FDI plans

New Delhi, Nov. 6: The government today approved 32 proposals, including one by US entertainment company Walt Disney to launch a TV channel, which will collectively bring in foreign investments of Rs 249.81 crore. The proposals, cleared by finance minister P. Chidambaram on the recommendation of the foreign investment promotion board, also included Honda Motor Coís plan to infuse Rs 10 crore to set up a wholly-owned subsidiary for spare parts and other areas.

China FTA

Beijing, Nov. 6: Beijing is mulling the possibility of establishing a free trade area (FTA) with New Delhi following a double-digit growth in bilateral trade between the two countries in recent years.

Tax scheme

New Delhi, Nov. 6: The Centre will launch a scheme to train 5,000 people who would prepare tax returns on a pilot basis to help small taxpayers file returns, a move expected to bring more people into the income tax net. Applications from qualified graduates will be invited from tomorrow for these posts which will be spread over 80 cities in the country, finance minister P. Chidambaram said.

Dunlop unit

Calcutta, Nov. 6: In a setback to the revival process of Dunlop, the companyís Ambattur unit has been forced to shut down following the disconnection of electricity by the local authority over a non-payment of old dues.

Shyam Tele

Mumbai, Nov. 6: Shares of Shyam Telecom today surged 127.11 per cent on re-listing on the Bombay Stock Exchange following its restructuring scheme.

Hexaware buy

Mumbai, Nov 6: Hexaware Technologies has acquired US IT firm Focusframe Inc in an all-cash deal of $34.3 million to strengthen its enterprise resources planning capabilities.

3G spectrum

New Delhi, Nov. 6: The department of telecom is understood to be going ahead with regulator Traiís recommendations on auctioning the airwaves with a reserve base price.


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