Archive for May 11th, 2008
IT Hirings May Drop
Sunday, May 11th, 2008It is no longer left to conjecture. The recruitment projections being made by leading Indian IT companies clearly show a 10-20 per cent drop in the number of people likely to be hired by the industry in the current fiscal year (FY) compared to the previous year.
The $ 64-billion Indian software and services industry added […]
City turns into hub for flight refuelling
Sunday, May 11th, 2008Hyderabad has become a major hub for refuelling of aircraft thanks to the cut in sales tax on aviation turbine fuel. The number of aircraft refuelling in Hyderabad has doubled from 60 to 120 in just two months following the government’s move to reduce sales tax on ATF from 33 per cent to 4 per […]
Arihant Indo African to build housing project in Guntur
Sunday, May 11th, 2008Arihant Indo African Infra Developers and Builders Private Limited, a joint venture between the Visu Group of Companies and Chennai-based Arihant Foundation and Housing Limited, will construct luxury houses at Mangalagiri in Guntur district, 9 km from Vijayawada.
Reliance to use closed fuel outlets for malls and multiplexes
Sunday, May 11th, 2008Reliance Industries Ltd (RIL), India’s biggest firm by market capitalisation, is drawing up plans to convert its fuel retail outlets, which were recently closed owing to unviable operations, into malls and multiplexes.
Satyam to continue its shopping spree
Sunday, May 11th, 2008Draws up $125-m capital expenditure in 4 SEZs
With six acquisitions in about 18 months, and sitting on a cash pile of over $1 billion (Rs 4,000 crore), IT services provider Satyam Computer continues scouting for more acquisitions, according to the company’s Chief Financial Officer, Mr Vadlamani Srinivas.
The company has invested $250 million (Rs 1,000-crore) in […]
Realty cos now offer EMI incentives
Sunday, May 11th, 2008Smarting under a correcting realty market and sluggish buying sentiments, real-estate players are scrambling to raise end-user demand through offers that promise to ease EMI burden until possession.
FinMin to part-fund Hyderabad Metro project
Sunday, May 11th, 2008The finance ministry has agreed in principle to provide funds worth about Rs 2,000 crore for the Hyderabad Metro Rail Project estimated to cost over Rs 10,000 crore under the public-private partnership.
Uppal is new IT hub
Sunday, May 11th, 2008Uppal is all set to become the next information technology hub after Madhapur. Several infrastructure companies are keen to develop IT parks and special economic zones in Uppal where land is available at affordable rates. These moves will boost economic and real estate activity in area and its surroundings in the next two years.
Builders try new tricks to cut costs
Sunday, May 11th, 2008Builders have adopted innovative methods to reduce construction costs in the wake of the sudden spurt in the prices of steel and cement. Several of them are using fly ash based cellular lightweight concrete and prefabricated material to cut costs without compromising on quality.
Realty does reality check, prices fall 15-20% in Q1
Sunday, May 11th, 2008If high prices have been holding you from buying your dream house all these years, here’s something to cheer about. In the first quarter of this year, there has been a 15-20% price correction in markets across the country, especially in the residential segment.
T-battle: Land prices fall
Sunday, May 11th, 2008The battle for a separate Telangana state has almost made the land transactions come to a standstill in all registrar offices. Uncertainty about the future of this region has affected such transactions across Hyderabad, Ranga reddy, Nalgonda and Medak districts. The sales have fallen by 33 per cent and more than Rs 665 crore anticipated […]
Pricey land stifles demand
Sunday, May 11th, 2008Slow sales and market resistance to the high cost of residential space have seen developers slow down the pace of projects. Developers, who blame high land prices and input costs for the increasing cost of developed space, say they are going slow on land deals, cutting back on projects and even prefer to back out […]
Special Purpose Vehicle to push forward PCPIR
Sunday, May 11th, 2008The project will consist of mega SDZs
Vizag will become nerve centre for massive investment
AAI and others being consulted for international airport
A Special Purpose Vehicle will be set up soon after getting the green signal from the Central Committee of Secretaries for the proposed Petroleum, Chemicals and Petrochemical Investment Region (PCPIR) between Visakhapatnam and Rajahmundry.
Land auction irks TRS
Sunday, May 11th, 2008Prime land worth crores of rupees in the heart of the city will go under the hammer on May 23 when Andhra Pradesh Housing Board will put to auction over 10 acres in different plot sizes.