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Punjab approved 336 mega projects
Punjab government has approved 336 mega projects with the private investment of Rs 97.163 crore which would provide employment to more than 12 lakh persons. Disclosing this here today Manoranjan Kalia, Industry, Commerce and Local Government Minister Punjab said that four Textile Parks, Foundry and Machine tools cluster at Batala had been approved by Government of India. He said that 20 clusters for micro, small and medium enterprises were proposed to be set up in the state.

Credit information bureaus trip on new FDI norms
The new Foreign Direct Investment (FDI) norms, which stipulate changes in the way foreign investment in a domestic company is calculated, have put a roadblock in the path of credit information bureaus, which are eager to rope in private sector banks as investors.

News of the day

ITC open to idea of demerging critical biz verticals
Cigarette to hotel major ITC today said it is open to demerger of its business verticals into separate entities if needed as they grow in size.
Public Relations

Kraft in $16.7 billion bid for Cadbury

Kraft Foods Inc today proposed a 10.2 billion pounds ($16.7 billion) takeover of Cadbury PLC, but said the offer was immediately rejected by the British maker of chocolate, gum and candy. - Priyagold to launch chocolates in September - Toon Kidz to foray into chocolate business - Recession in India, Europe drives Cadbury sales Kraft was undeterred, however, and said it would continue to seek a transaction which Cadbury"s board could support. Cadbury, which makes Cadbury chocolates, Trident and Dentyne gum and Halls and Bassett"s candies, did not immediately comment. Kraft, whose brands include Velveeta cheese product and Oreo cookies, said it had proposed paying 300 pence in cash and 0.2589 new Kraft Foods shares per Cadbury share, valuing Cadbury shares at 745 pence. That represents a 31 percent premium over Cadbury"s closing share price of 568 pence on Friday. Kraft, based in Northfield, Illinois, said the combination would create "a global powerhouse in snacks, confectionery and quick meals," with leading positions in developing markets including India, Mexico, Brazil, China and Russia. "This proposed combination is about growth. We are eager to build upon Cadbury"s iconic brands and strong British heritage through increased investment and innovation," said Irene B Rosenfeld, chairman and CEO of Kraft Foods.


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