Mumbai, Aug. 6: IRDA chief J. Harinarayan today said the authority would issue the draft public float guidelines for general insurance companies within a week. “All things have been finalised and we may come out with the IPO (initial public offering) norms for general insurers in another week,” the IRDA chairman said. Earlier, market regulator Sebi had approved the draft IPO guidelines for non-life insurance companies.
New Delhi, Aug. 6: Hospitality major EIH, which operates the Oberoi and Trident brand of hotels and resorts, today reported a 38.83 per cent dip in net profit at Rs 9.45 crore for the June quarter against Rs 15.45 crore in the same period last year.
Mumbai, Aug. 6: Reflecting the general gloom in the economy, rating agency Fitch today downgraded the outlook for the domestic retail sector to “negative” from “stable”.
New Delhi, Aug. 6: The widespread sale of fake items such as electronics and automotive components has been increasing rapidly in the country and is likely to touch Rs 55,000 crore by 2013 in the absence of any regulatory mechanism, an Assocham study said.
Dehra Dun, Aug. 6: Fertiliser cooperative firm Iffco is in talks with the Canadian government to set up a multi-million dollar urea plant in the north American country, a top official today said.
