WBMDTC set to record profit after 35 years
KOLKATA, 16 JUNE: West Bengal Mineral Development and Trading Corporation Ltd is all set to register profit after 35 years of operations. It has also successfully acquired 412 acres of land for coal mining directly from farmers. “WBMDTC is set to declare turnaround for 2012-13 with a profit after 35 years. This has been possible with the vision of chief minister Mamata Banerjee and industry minister Partha Chatterjee who offered turnaround roadmap,” said Mr Amlan Basu, WBMDTC deputy chairman. Sources said WBMDTC had posted a net profit of Rs 6.5 crore for fiscal 2012-13. pti
‘Need to change biz rules’
NEW DELHI, 16 JUNE: Government processes in India take too long and the country needs to change regulations that govern business, chief economic advisor in the finance ministry Raghuram Rajan said today. “Things are difficult in India. We have to improve the business climate and reduce regulations that govern business. Some of our regulations come from the British times, we need to change that,” Mr Rajan said. pti
Code for tea industry
VADODARA, 16 JUNE: Tea Board chairman Mr MGVK Bhanu has said the board will unveil a "sustainability code" for the industry on 11 July and redefine the way it operates. Addressing the 24th annual general meeting of the Federation of All-India Tea Traders Associations at Anand, Mr Bhanu said: “The board will introduce a set of parameters which will redefine the way tea industry works." pti
Carlson Rezidor&’s plan
MUMBAI, 16 JUNE: Carlson Rezidor Hotel Group is planning to add 38 new hotels in India and increase employee strength by over 9,000 by 2015. “We are aspiring to have 100 hotels in India by 2015,” said Mr KB Kachru, executive vice-president of South Asia, Carlson Rezidor Hotel Group. pti
AC price hike likely
NEW DELHI, 16 JUNE: Air conditioner manufacturers have mulled price hike to offset the impact of sharp depreciation of the rupee in the last one month. While Blue Star said it will increase price of its room air conditioners from 1 July, others such as LG India and Voltas are monitoring the situation keeping options open for a similar step. Blue Star will increase prices  between 2.5 and 7.5 per cent depending on the model, he added. pti