Briefly Business

The Planning Commission proposesto launch a website inviting suggestions from individuals and organisations on how to approach the 12th Five-Year Plan...

Plan panel to launch website on 12th Plan

Bangalore: The Planning Commission proposesto launch a website inviting suggestions from individuals and organisations on how to approach the 12th Five-Year Plan,Planning Commission Deputy Chairman Montek Singh Ahluwalia said here on Sunday. We will be launching it shortly,probably next week, Ahluwalia said during a lecture titled,Challenges in the 12th plan.

NCDEX to sell 26 pc stake to Jaypee Capital

New Delhi: Agricultural commodity exchange NCDEX has decided to sell a 26 per cent stake to Jaypee Capital through the issue of fresh equity. The exchange will sell a 26 per cent stake to Jaypee Capital through the issue of fresh shares,8221; a senior NCDEX official said on Sunday. National Commodity amp; Derivatives Exchange Ltd NCDEX is issuing fresh shares to raise the equity capital of the exchange to Rs 50 crore,in line with the new norms which national exchanges have to adopt by the end of this month.

CIL net worth to go up by 2.4 bn after IFRS

New Delhi: Coal India Ltd8217;s net worth will be boosted by 2.4 billion approximately Rs 11,000 crore once it adopts International Financial Reporting Standard IFRS norms,Chairman Partha S Bhattacharyya said. Once we adopt IFRS,the 2.4 billion provision made on account of the overburden removal reserve will be released,as it is not required under the new accounting standard,8221; Bhattacharyya said.

United Stock Exchange to be launched today

Mumbai: United Stock Exchange of India USE,the newest stock exchange for currency derivatives,is all set to commence operations from Monday. The exchange will be inaugurated by Securities and Exchange Board of India SEBI Chairman C B Bhave and RBI Deputy Governor Shyamala Gopinath at the Bombay Stock Exchange BSE. USE will commence operations in all four currency pairs currently allowed by SEBI,namely the dollar-rupee,euro-rupee,yen-rupee and pound-rupee.

HNG eyeing Rs 1,500 cr acquisitions abroad

Mumbai: Glass bottles manufacturer Hindusthan National Glass HNG plans to make a strategic acquisition worth Rs 1,500 crore in the next 8-10 months as part of its overseas foray into the manufacturing segment,a top company official said. HNG is already in talks with two to three companies in Europe,the Middle East and North Africa for a possible buy-out.

Cut in refund rates to affect jobs: Exporters

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New Delhi: Upset over sharp reduction in the rates of duty drawback exporters on Sunday said the move will have adverse impact on employment in sectors like apparel,leather,handicraft and metal. Reduction of drawback for apparel,leather,metal handicraft,carpets,certain engineering products will have a bearing on employment,8221; said A Sakthivel,President of Fieo.