Tatas quit race for CWW

New Delhi, April 18: Tata Communications today said it would not make any offer to acquire Cable & Wireless Worldwide (CWW) as it had failed to reach an agreement with the British firm on the offer price. Tata Communications and Vodafone were in race to acquire CWW.

Power ECB

New Delhi, April 18: The RBI will issue guidelines to allow external commercial borrowings (ECB) by power sector companies to retire rupee debt within the next seven days, the finance ministry said.

Sun verdict

New Delhi, April 18: Sun Pharmaceutical Industries today said the US Supreme Court has given a favourable verdict in its patent case against Novo Nordisk over generic Prandin tablets used for treating diabetes.

Insurance

New Delhi, April 18: An insurance firm is bound to pay third party compensation to a road mishap victim even if the policy had been nullified because of bouncing of the vehicle owner’s cheque for premium, the Supreme Court has ruled.

Feb FDI

New Delhi, April 18: India received $2.21 billion in foreign direct investment in February taking cumulative inflows to $28.40 billion for the April-February period of the last fiscal. In February 2011, the country received FDI worth $1.27 billion.