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Peerless focus on new biz
In keeping with the Reserve Bank of India (RBI) guidelines for the Residuary Non-Banking Finance Company to exit deposit-taking business by March 2011, Kolkata-based Peerless General Finance & Investment Company scaling down its RBFC operations, while focusing on new business lines like asset and wealth management.

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Reliance Media World to list on BSE, NSE
Anil Ambani’s radio business, Reliance Media World, which operates radio station BIG FM 92.7, will list on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Friday, December 4. This makes BIG FM 92.7 the second radio station to be listed on the stock exchanges.

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No violation by Vedanta at Niyamgiri, says report
The Vedanta Aluminium Ltd (VAL), part of Vedanta Resources, has not violated any forest and environment norms at its alumina refinery and bauxite mining site in Kalahandi district of Orissa, according to a report of the state government.
International Business

DoT allots 8 series to Reliance

On account of exhausting mobile phone numbers starting with the digit 9, the Department of Telecommunications has allotted Reliance Communications a new series beginning with the digit 8(055) for its Maharashtra and Goa circle (M&G). - DoT allots RCom new series for Maha, Goa circle - Analysts" corner - Reliance Comm spurts 5% on Infratel IPO plans - RCom gains over 1% on Aircel infra sharing deal - Indian firms re-route Net traffic after Taiwanese earthquake - RCom, Aircel may sign $300 mn infra sharing deal Named as the ‘Boss’ series, Reliance will launch it on the GSM network for both of its pre-paid as well as post paid customers. This is the company’s first mobile series beginning with 8 and subsequently the company will launch other new series for other circles as well. The company’s existing customers too can avail of the new series number without requiring to buy a new connection. “For the first time in the telecommunication history of our country, our customers will have an option of choosing the last 6 digits of their mobile numbers. A customer has to simply send an SMS indicating their choice of numbers and depending on the availability the number will be given to the customer,” Ravi Santhanam, M&G circle CEO, wireless business, Reliance Communications said. Over one million combination of numbers would be available in the 8055 series for the M&G circle out of which, close to 3,000 numbers will be up for auction.


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