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Since 1st March, 1999
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Business Briefs

Coke plan for India

Atlanta, May 27: Coca-Cola has said it has a robust investment plan to boost operations in India. “We have very robust and healthy investment plans for the Indian market and a major part of the investment will go in marketing and setting up infrastructure to support the system,” Coca-Cola COO Muhtar Kent said. He, however declined to specify the investment figures but said it would be substantial.

Bhel target

New Delhi, May 27: Bhel has been able to achieve 80 per cent of the target set for it by the government during the Tenth Plan and outperformed competitors in the private sector. Power minister Sushilkumar Shinde had said the company had failed to supply equipment, which led to a shortfall in capacity addition during the Tenth Five Year Plan.

Form 16

New Delhi, May 27: Individual assessees have to submit Form 16, a certificate of tax deducted at source, along with income tax returns to avail of timely payment of refunds.

Hamleys store

London, May 27: Hamleys, a London-based toy store, plans to open its first store in India next year. A spokesperson of the company said it has identified a possible Indian partner but no deal has been signed.

Debt paper

Mumbai, May 27: The Reserve Bank of India’s monetary tightening steps have pushed up interest rates on commercial papers (CPs) by nearly 3 per cent, making it difficult for companies to raise short-term debt for up to one year.

Food park

Calcutta, May 27: The proposed Rs 350-crore mega food park at Sankrail, Howrah, has been reduced to 300 acres from 500 acres planned earlier because of changes in certain policies by the Centre.


New Delhi, May 27: The domestic construction sector, poised to grow about 15 per cent rate, will create jobs for over 9.7 million skilled and unskilled workers by 2012, Assocham said.

Islamic fund

Jeddah, May 27: The Organisation of the Islamic Conference (OIC) has announced it would launch a $10-billion fund to fight poverty in the Islamic world.

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