Number portability by Sept

New Delhi, May 10: The department of telecom has notified that mobile number portability will be implemented in Delhi, Mumbai, Maharashtra and Gujarat service areas of Zone I and Calcutta, Tamil Nadu, Chennai, Andhra and Karnataka of Zone 2 by September 20, 2009. It will be introduced in the rest of the country by March 20, 2010. Number portability will enable cell phone users to switch operators even while retaining their existing number.

US growth

Washington, May 10: The US economy is expected to start growing in the second half of this year, while the unemployment rate is expected to peak in the first quarter of 2010, according to a Blue Chip Economic Indicators survey. Economic growth will shrink 2.8 per cent in 2009 but grow 1.9 per cent in 2010, the survey said.

Tax refund

New Delhi, May 10: Individual and small corporate taxpayers will get tax refunds in four months, with the refund banker scheme spreading across the country. The refunds, arising out of tax payments and TDS collections, usually take more than a year to reach the average taxpayer.

Maruti rethink

Mumbai, May 10: Maruti Suzuki has not yet taken a call on phasing out its cars, Maruti 800 and Omni. “The decision to phase out the models will be taken by our marketing division,” Maruti Suzuki managing executive officer I.V. Rao said.

Satyam tax

New Delhi, May 10: Satyam paid Rs 186.91 crore as tax over seven years on fictitious interest income on non-existent fixed deposits, the

vestigation Office said in its report.

ICICI expansion

Mumbai, May 10: ICICI Bank has said it will prefer organic growth over expansion through overseas acquisitions, as many hidden liabilities could come in along with cheap valuations of the troubled foreign banks.

NMDC venture

New Delhi, May 10: Iron ore producer NMDC is likely to float a joint venture firm with South Africa’s Kopano Ke Matla Investment Company by July to scout for minerals such as iron ore and manganese in the African nations.