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Business Briefs

IPO pace falters

New Delhi, Aug. 10: The IPO activity in the Asia-Pacific region has nearly halved in the first half of this year, with India and China reporting a drop of nearly $18 billion in mobilisation of such deals. The total capital raised by Indian firms through IPOs in the first half of the year stood at $4.07 billion compared with $7.68 billion in the same period last year, global accounting and consulting firm Grant Thornton said.

Merger move

New Delhi, Aug. 10: The government is considering to exempt the amalgamation and merger of financial institutions such as banks, insurance companies or pension funds ordered by the regulators in public interest out of the purview of the Competition Commission.

Assocham view

New Delhi, Aug. 10: The contribution of small-scale industries to manufacturing and employment generation slipped by 10 and 7 per cent, respectively, in the first quarter, as large and medium industries have started sourcing their inputs through cheaper imports according to Assocham.

UTI mutual

New Delhi, Aug. 10: The Central Information Commission (CIC) has directed UTI AMC to comply with the Right to Information Act since it is a public authority. In a recent ruling, central information commissioner Padma Balasubramanian asked the company to appoint public information officers and appellate authorities, according to the act.

Lamy visit

New Delhi, Aug. 10: WTO director general Pascal Lamy is visiting India this week and will hold discussions with the government and industry to find ways for picking up the threads from last month’s failed trade talks in Geneva.

RINL upgrade

New Delhi, Aug. 10: Rashtriya Ispat Nigam Ltd (RINL) has embarked on a Rs 5,000-crore modernisation plan, which will be carried out over three years to add value to its products portfolio. “We would be investing Rs 5,000 crore to modernise our steel plant and make it more efficient,” RINL chairman and managing director P.K. Bishnoi said.

BPO travails

New Delhi, Aug. 10:        Leading outsourcing firms such as WNS, EXL Service and Genpact have warned that rising employee salaries could eat into their profit margins.


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