Weekly News: 23-08-2010 to 29-08-2010 Compiled by: Taranpreet Kaur  Mba-2(A)
ONGC’s royalty on Rajasthan field cut;  possible  obstacle to Vedanta-Cairn deal removed. <ul><li>State-run ONGC is set to...
Tech Mahindra CEO Sanjay Kalra quits firm after six years <ul><li>Tech Mahindra CEO Sanjay Kalra has resigned from the fir...
Tata Motors in tie-up with IndusInd Bank <ul><li>Automaker Tata Motors has entered into an understanding with IndusInd Ban...
Air India to slash fares on domestic routes <ul><li>Air India has decided to slash fares in an attempt to shore up market ...
Subbarao hints at slower pace of hikes <ul><li>The central bank has hinted that it may ease the pace of raising key rates ...
Ranbaxy settles patent dispute with Roche <ul><li>Daiichi Sankyo-owned Ranbaxy Laboratories has settled its patent dispute...
BlackBerry may face ban if no solution in 5 days <ul><li>The government made it clear on 26 th  august that BlackBerry ser...
Toyota to start trial production of Etios in Sept <ul><li>The world's largest car-maker Toyota today said it will start tr...
Commonwealth Games theme song unveiled <ul><li>A.R.Rahman released the theme song — written, composed and sung by him, </l...
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Weekly news (compiled by: Taranpreet )

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Weekly news (compiled by: Taranpreet )

  1. 1. Weekly News: 23-08-2010 to 29-08-2010 Compiled by: Taranpreet Kaur Mba-2(A)
  2. 2. ONGC’s royalty on Rajasthan field cut; possible obstacle to Vedanta-Cairn deal removed. <ul><li>State-run ONGC is set to get permission from the Centre to pay only a third of its total royalty obligation to the Rajasthan government on the revenues earned from the oil blocks owned by Cairn India. </li></ul><ul><li>This removes a possible obstacle to the Vedanta-Cairn deal and will save the oil explorer an annual outgo of $350 million. </li></ul>
  3. 3. Tech Mahindra CEO Sanjay Kalra quits firm after six years <ul><li>Tech Mahindra CEO Sanjay Kalra has resigned from the firm after spending around six years in its management. </li></ul><ul><li>Vineet Nayyar, who is the vice-chairman, will take over the operational responsibilities of CEO. </li></ul>
  4. 4. Tata Motors in tie-up with IndusInd Bank <ul><li>Automaker Tata Motors has entered into an understanding with IndusInd Bank for financing its range of passenger vehicles . </li></ul><ul><li>An MoU was signed in this regard by senior executives of the both companies, Tata Motors said in a statement. </li></ul>
  5. 5. Air India to slash fares on domestic routes <ul><li>Air India has decided to slash fares in an attempt to shore up market share. </li></ul><ul><li>It will reduce fares on 48 domestic routes by 3-23% effective from September 1. </li></ul><ul><li>National Aviation Compay of India(Nacil), company that owns Air India, is 3 rd largest player in country with 17.3% share.Jet Airways with 26% share is leader in domestic market followed by Kingfisher with 20%. </li></ul>
  6. 6. Subbarao hints at slower pace of hikes <ul><li>The central bank has hinted that it may ease the pace of raising key rates with the moderation in food prices and keeping in mind the need to strike a balance between taming inflation and ensuring that the growth momentum is not choked off. </li></ul><ul><li>The RBI has raised key rates four times this year mainly to cool prices in an economy projected to grow at well over 8.5% this financial year . </li></ul>
  7. 7. Ranbaxy settles patent dispute with Roche <ul><li>Daiichi Sankyo-owned Ranbaxy Laboratories has settled its patent dispute with Swiss major Roche for the latter’s drug valganciclovir sold under the brand Valcyte. The request was granted on Tuesday, news agency Bloomberg said. </li></ul><ul><li>Valganciclovir is an anti-viral medicine used to treat eye infections in transplant patients and people with AIDS . </li></ul>
  8. 8. BlackBerry may face ban if no solution in 5 days <ul><li>The government made it clear on 26 th august that BlackBerry services may be banned if its maker, Research–in-motion ,fails to provide a monitoring solution in readable format in next five days. </li></ul><ul><li>The smart-phone maker, which has a subscriber base of one million in India, has been told in no uncertain termsthat it must install its serverwith an Indian service provider. </li></ul>
  9. 9. Toyota to start trial production of Etios in Sept <ul><li>The world's largest car-maker Toyota today said it will start trial production of its much anticipated small car 'Etios' for the Indian market from September. </li></ul><ul><li>The Japanese car major, which is present in India through a joint venture with the Kirloskar Group, is investing Rs 3,200 crore to set up its second manufacturing facility in Bangalore to roll out its first small car in India by December. </li></ul>
  10. 10. Commonwealth Games theme song unveiled <ul><li>A.R.Rahman released the theme song — written, composed and sung by him, </li></ul><ul><li>“ Khelo, jeeyo, hey-o , let’s go’” </li></ul><ul><li>The Commonwealth Games theme song is an exhortation to Indians to come forward for the games, starting with the salutation: &quot;Yaaro, India bula liya.&quot; While the music video is yet to be unveiled . </li></ul>

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