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Business Briefs

Nippon, Tata plan

Tokyo, Nov. 14: Japanís Nippon Steel Corporation and Tata Steel are planning to jointly produce steel sheets for cars, according to a report. Nippon Steel president Akio Mimura and Tata Steel chairman Ratan Tata met in Japan last month to discuss prospects for the venture, Dow Jones Newswires reported citing an unnamed spokesperson for the Japanese company.

Orient Paper

New Delhi, Nov 14: The board of Orient Paper today approved a stock split in the ratio of 1:10. The stock split is subject to approval of the stock exchanges, depositories and other such approvals.

Finance panel

New Delhi, Nov. 14: The government today constituted the 13th Finance Commission, headed by adviser to the finance minister Vijay L. Kelkar. The commission will study the distribution of the net proceeds of taxes between the Centre and the states and the likely impact of the proposed implementation of Goods and Services Act with effect from April 1, 2010.

Tax proceeds

New Delhi, Nov. 14: Revenues from import and excise taxes rose 18.6 per cent year-on-year in October to Rs 19,646 crore from Rs 16,569 crore, according to a finance ministry statement issued today.

Maruti is No. 1

New Delhi, Nov. 14: JD Power Asia has ranked Maruti Suzuki India as the best four-wheeler manufacturer in the country in terms of customer satisfaction.

Fuel meet

New Delhi, Nov. 14: Prime Minister Manmohan Singh is planning a meeting of political leaders next month to find a way out of the crisis caused by galloping crude prices and growing subsidy to oil firms.

Cell users

New Delhi, Nov. 14: The GSM industry has added 5.75 million cellular subscribers in October, according to figures released by the Cellular Operatorsí Association of India today. Total mobile user base reached 159.7 million. The industry had added 5.6 million users in September.


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