Calcutta, Dec. 13: The Board for Industrial and Financial Reconstruction has asked the department of heavy industries to submit a modified rehabilitation proposal by mid-May for the ailing Burn Standard. The reconstruction body wants the department to take urgent steps towards submitting the company’s revival plan before the Cabinet Committee on Economic Affairs. A government undertaking, Burn Standard was formed with the merger of two engineering organisations — Burn & Co Ltd and Indian Standard Wagon Co Ltd.
Mumbai, Dec. 13: Payments made through debit cards rose around 40 per cent to Rs 14,598 crore in the first seven months of the current fiscal compared with the corresponding period last year, indicating a spurt in economic activities. During April-October period in 2008-09, the payment made through debit cards stood at Rs 10,489 crore.
New Delhi, Dec. 13: Railway minister Mamata Banerjee is expected to table a white paper on the financial health of the utility on December 21. She will also present the Vision 2010 document, charting the railways plan of action for the coming decades.
New Delhi, Dec. 13: Cairn India, in its first overseas venture, has begun work on an exploration block in the Mannar Basin, off Sri Lanka. Cairn Lanka — a unit of Cairn India — has begun 3D seismic survey in the Mannar Basin of Sri Lanka.
Stockholm, Dec. 13: General Motors is in talks to sell parts of Saab Automobile’s old technology to a Chinese company and the entire brand to another buyer, a person familiar with the negotiations said.
Jaipur/ New Delhi, Dec. 13: BSNL has become the first company in the country to start wireless broadband services (WiMAX) and announced a tariff starting with Rs 140 per month for rural areas.
New Delhi, Dec. 13: State-run ONGC has sought levy of windfall tax on crude oil price of over $60 per barrel to pay for fuel subsidies. ONGC said 20 per cent of the incremental price over $60 per barrel can be taken as tax to subsidise petrol, diesel, LPG and kerosene.
