Mumbai: Power solutions provider, Thermax Ltd, has signed an agreement with US-based Babcock & Wilcox Power Generation Group, Inc for forming a joint venture to manufacture supercritical boilers for the Indian power sector.

New Delhi/Lucknow: Energy transmission and distribution major, Areva T&D India Ltd, has been awarded a contract for the construction of switchyard for Uttar Pradesh Rajya Vidyut Utpadan Nigam's 1,000 mega watt (MW) thermal power project in Sonebhadra district to meet the increasing power demand in the state.

Chennai/Hyderabad: The IT and ITeS Industry Association of AP (ITsAP) expects growth of about 20 per cent in software exports from Andhra Pradesh in the next financial year, according to its President, Mr Narasimha Rao.

Chennai/Bengaluru: The Government of Karnataka plans to set up a global financial district in Devanahalli as a hub for financial institutions to cater to industrial banking and finance. The government will adopt a public private partnership (PPP) or joint venture (JV) model for the district, according to the state's Minister for Large and Medium Industries, Mr Murugesh Nirani.

Chennai: The Chennai-based Siva Group, a US$ 3-billion (Rs 14,000 crore) diversified conglomerate, has acquired a 50 per cent stake in Isklar, a Norwegian glacial natural mineral water company.

New Delhi: The strong post-budget rally has seen the net inflow from foreign institutional investors (FIIs) crossing the US$ 2-billion mark so far this year.

New Delhi: According to Franklin Templeton Investments, India offers better long-term returns on stocks than China, given the outlook for economic growth and corporate earnings.

After a sedate start yesterday, the follow-on public offer of NMDC saw interest reviving on the second day of book building, with bids for 79 per cent of the shares on offer.

Contributions by Indian firms with over 50% foreign holding to be treated as foreign sources.

Stuart Gulliver, head of HSBCs global investment banking business, is planning to give away the 9 million bonus he received this year to charity. Many investment bankers in India, however, are charting moves of a different kind after receiving their bonuses up to 100 per cent in most cases.

Malvinder to be Parkway chairman; acquisition will form Asias largest hospital chain.

Bengaluru: GE Healthcare, the US$ 17-billion division of General Electric Company, has announced the expansion of its Bangalore manufacturing operations to enable more customised products for local use and has also rolled out its first computer tomography (CT) system manufactured in India.

New Delhi: Indian companies are the most optimistic on hiring plans for April-June 2010, with the organised sector expected to create close to a million new jobs in FY11, driven by a revival in economic growth and strong job opportunities, according to two global employment trend surveys.

New Delhi: The government will provide Rs 9,500 crore (US$ 2.1 billion) for the recapitalisation of public sector banks in the first quarter of 2010-11, while about Rs 7,000 crore (US$ 1.54 billion) will be infused during the rest of the fiscal year.

Chennai: CCCL Infrastructure Ltd, part of the Chennai-based Consolidated Construction Consortium Ltd, plans to raise money through private equity for its proposed investments to the tune of around Rs 1,500 crore (US$ 330.2 million) - 2,000 crore (US$ 440.3 million). The company plans to foray into power generation and logistics business.

New Delhi: Singareni Collieries Company Ltd (SCCL), India's second-largest coal producer, plans to foray into commercial power generation and invest Rs 5,600 crore (US$ 1.23 billion) over the next four years to set up a 1,200-mega watt (MW) thermal power plant in Andhra Pradesh.

Mumbai: Aditya Birla Minacs, the information technology business solutions firm, has announced the acquisition of UK-based Compass BPO, a finance and accounting (F&A) services provider. The company will take over all operations of Compass BPO across the UK, US, West Asia and India.

New Delhi: NMDC Ltd, the country's largest iron ore producer, is expected to increase its production to 50 million tonnes (MT) by 2013-2014 from the present 30 MT. The company plans to invest Rs 15,600 crore (US$ 3.44 billion) in the next five years for setting up a steel plant in Chhattisgarh and Rs 1,400 crore (US$ 308.3 million) on pallet plant projects, according to NMDC Chairman, Rana Som.

Like its predecessors REC and NTPC, mining major NMDC, the third government-owned company to hit the markets this year, received tepid response on the first day of follow-on offer (FPO).

Even before the start of the new financial year, the spectre of rising losses during 2010-11 has begun to haunt the three state-controlled oil marketing companies that account for over 90 per cent of the countrys retail petroleum products market.