Business Standard

Dow Chemical Company is once bitten, twice shy. Close on the heels of its US parents move to deny liability for damages resulting from the Bhopal gas tragedy at a plant run by Union Carbide (a company it had bought), Dow India has called off a greenfield project to establish a research & development facility in Maharashtra.

The Reserve Bank of India (RBI) will set strict terms that may include additional capital requirements for banks managing large private pools of capital.

Sun Pharmaceutical today won a significant victory in its three-year-old battle to acquire Taro Pharmaceuticals. The Supreme Court of Israel has supported the Indian drug companys bid to acquire the outstanding shares of the Israeli drugmaker.

Telecom major loses legal battle on tax claim; to move SC.

Government bank executives got a pleasant surprise today, which came from none other than the governor of Reserve Bank of India (RBI). While mentioning the issue of compensation of private bank chief executive and board members, RBI Governor D Subbarao emphasised the need for competitive compensation for public sector banks or they may lose talent to their private sector counterparts.

Petrol and diesel prices across the country will increase by 9-13 paise a litre with effect from Tuesday midnight, after the government decided to increase the commission to petrol pump dealers. In Delhi, the price of petrol will go up by 13 paise to Rs 51.56 a litre, while diesel will be 9 paise costlier to Rs 37.71 per litre. The price of auto LPG will also increase by 8 paise to Rs 30.94 a litre, said an Indian Oil official.

Several Indian companies might have to set aside 2 per cent of their average net profits during the preceding three years to meet corporate social responsibility (CSR) spending requirements. A parliamentary standing committee on finance, which vetted the Companies Bill, 2009, said in its report that the ministry of corporate affairs has agreed to the suggestion.