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Interest rates likely to move up this year: Kidwai
An expected recovery in the bank credit in the next few months may push up interest rates in the later part of the current fiscal, a top foreign banker today said.

Orchid gets ANDA's final nod from USFDA for Zaleplon Capsules
Pharma firm Orchid Chemicals & Pharmaceuticals today said it has received the final Abbreviated New Drug Application (ANDA) approval for its Zaleplon capsules from the US Food and Drug Administration, in a filing to the Bombay Stock Exchange(BSE).

News of the day

India-West Indies series to be low scorer for Ten Sports
Low viewer interest following India"s early exit from the ICC T20 World Cup, plus the absence of star cricketers like Sachin Tendulkar and Virender Sehwag from the team have brought down average spot rates on Ten Sports over 50 per cent against what advertisers paid on STAR Cricket, the host broadcaster for the T20 World Cup, and SET Max, broadcaster for the Indian Premier League (IPL). Ten Sports is the host broadcaster for India"s upcoming tour of the West Indies starting June 26. India is scheduled to play four One Day Internationals (ODIs) from June 26 to July 5.
International Business

MS wants excise duty on packaged software

Software giant Microsoft’s representatives will soon meet finance ministry officials trying to persuade them to impose excise or countervailing duty instead of service tax on packaged software. - Maharashtra gets state wide area network - AI cancels over 20 flights as agitation by pilots continues - Brumby criticised back home for not discussing Indian fugitive - 129 students, mostly Indians, will be displaced from Australian college - F&O OUTLOOK: Upside breakout seen above 5,010 - FIIs net buyers Rs 989 cr in F&O on Friday The government had recently said packaged software makers would be required to pay service tax and not central excise (or countervailing duty in case of imported software). This had happened after a series of representations from the packaged software industry and discussions within the finance ministry. Packaged software refers to a bunch of software offered to various PC marketing companies to come pre-loaded on branded computers. “Microsoft is again coming to us with a request to do away with service tax on the packaged software and charge the central excise or countervailing duty. They say they have a genuine problem,” a senior ministry official said. When contacted, Microsoft officials denied any such development from the company’s side.


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