Signs of delay in GST

New Delhi, July 11: In a letter to Prime Minister Manmohan Singh, states have said the Centre’s refusal to compensate them for revenue losses because of a reduction in CST rate can derail the introduction of goods and services tax (GST). Sushil Kumar Modi, chairman of the empowered committee of state finance ministers, said that states would suffer substantial revenue losses if they were not given CST compensation.

RPower loan

New Delhi, July 11: Reliance Power has tied up loans of $1.1 billion (over Rs 6,000 crore) from three Chinese lenders for its upcoming 3,960MW Sasan mega power project in Madhya Pradesh.

RIM assurance

Toronto, July 11: Thorsten Heins, the CEO of embattled BlackBerry maker Research in Motion Ltd, asked disgruntled investors to be patient as the firm developed new devices to rival the iPhone and Android smartphones.

SAIL selloff

New Delhi, July 11: The department of disinvestment will seek the cabinet’s approval tomorrow to sell the government’s 10.82 per cent stake in Steel Authority of India Ltd (SAIL) through the auction route.