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ONGC opposes FinMin directive to park surplus funds with PSUs
Oil and Natural Gas Corporation (ONGC) has opposed finance ministry directive of parking its surplus funds with only PSU banks saying it is losing Rs 360 crore of interest revenues annually as state-run banks offer lower interest rates when business is given to them on nomination.

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DIPP bats for higher FDI cap in broadcasting sector
In a move aimed at rationalising foreign direct investment (FDI) in various areas of the broadcasting sector, the Department of Industrial Policy and Promotion (DIPP) has proposed to increase the FDI cap for direct-to-home (DTH) services, uplinking hubs, teleport services and FM radio.

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Asian stocks rise on China growth optimism
Asian stocks climbed, lifting the MSCI Asia Pacific Index to its best year since 2003, as commodity prices rose and China pledged to maintain a “moderately loose” monetary policy.
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More cities under affordable housing project: Tata

The affordable housing projects launched by Tatas in Mumbai would be extended to more cities since the concept had evinced keen interest from all parts of the country, Tata group Chairman Ratan Tata has said. The group was looking for housing projects in Kolkata and Bangalore in the next phase, Ratan Tata, who was here to attend silver jubilee of High Range School run by the company here, said during an interaction with journalists yesterday. - TVS Shriram Fund buys stake in Landmark - HC stays Trent plans for Star Bazaars in Delhi - Indian Hotels Q2 PAT dips 76% to Rs 12 cr - Tanishq eyes Rs 3,000 cr turnover this fiscal - Tata Investment net rises 9% at Rs 89 cr - Titan net down 11.6% in Q2 Sensex ends up 35pts Cox & Kings Q3 net jumps 88% to Rs 19 cr UCO Bank seeks shareholders" nod for fund raising Negative view on state-run oil cos: Fitch Jan cement sales in high double-digit Asked about the hype about austerity measures by the government, he said Tatas had always followed austerity principle by avoiding wastage and cutting costs in operations. The group, however, did not believe in cutting down salaries, he said.


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