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L&T, EADS may send revised JV proposal to FIPB
After the Foreign Investment Promotion Board (FIPB) rejected the proposed defence tie-up between Larsen and Toubro (L&T) and Franco-German aerospace major EADS last week, the companies are discussing a revised proposal, with a new joint venture structure in which the European defence giant would hold 26 per cent stake.

GCMMF hikes milk prices by Rs 1 per litre
Gujarat Co-operative Milk Marketing Federation (GCMMF), marketing its products under the brand Amul, will hike milk prices for the second time this year by Rs 1 per litre in the city from tomorrow, a senior federation official said today.

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Stocks fall in Europe, Asia on China's stimulus worries
Stocks fell from Tokyo to Paris and the dollar rose as the fastest economic growth in a year in China stoked speculation that government stimulus measures will be removed, while European earnings disappointed investors.

Vice Prez, PM pay homage to Basu.

Vice President Hamid Ansari and Prime Minister Manmohan Singh today visited the CPI (M) headquarters here to pay homage to Marxist veteran Jyoti Basu. - Prachanda suspicious about India"s role, keen to meet Manmohan - Sanjaya Baru: RBI - an institution India deserves">Sanjaya Baru: RBI - an institution India deserves - Professionals to manage cultural resources: PM - PM for modern technology, management to preserve heritage - Kanchan Gupta: Relooking West Bengal">Kanchan Gupta: Relooking West Bengal - Aligning with China in Copenhagen a mistake: Bhagwati Singh reached the AKG Bhawan at Gole Market, the CPM Headquarters, at 11.10 am and paid floral tributes to Basu, who died in Kolkata yesterday after fighting a battle with pneumonia. The Prime Minister also signed the condolence book. Earlier, Ansari paid floral tributes to Basu and also signed the condolence book. CPI(M) Politburo members Sitaram Yechury and K Vardarajan were present at the party headquarters when the Prime Minister visited it.

Farewell to basu amid chorus, chaos.

Jyoti Basu remained as popular in death, as he was when alive. The Marxist leader"s far-reaching appeal ensured that the country"s political establishment, irrespective of party affiliations, paid their last respects to the CPI(M) patriarch on Tuesdsay, save Trinamool Congress chief Mamata Banerjee. - Sheikh Hasina leaves Dhaka to attend Basu"s funeral - Basu"s final journey begins - A gentleman communist - B"desh Parliament mourns Basu"s death - Mourners throng Basu"s home, party HQ to pay homage - Vice Prez, PM pay homage to Basu UPA chairperson Sonia Gandhi, Finance minister Pranab Mukherjee, Agriculture minister Sharad Pawar, BJP"s LK Advani and Nitin Gadkari, former Samajwadi Party leader Amar Singh, former Prime Minister HD Deve Gowda, RJD chief Lalu Prasad and Jharkhand Chief Minister Shibu Soren were present, apart from the CPI(M)"s Prakash Karat, Brinda Karat and Sitaram Yechury. Bangladesh Premier Sheikh Hasina, too, returned to India just for Basu, days after returning to Dhaka after a state visit here.

Sheikh Hasina leaves Dhaka to attend Basu's funeral.

Bangladesh Prime Minister Sheikh Hasina today left for Kolkata along with several Cabinet ministers to attend the funeral of Marxist patriarch Jyoti Basu. - Sonia, leaders to pay homage to Basu - B"desh Parliament mourns Basu"s death - Mourners throng Basu"s home, party HQ to pay homage - India agrees to cede 17,000 acres to Bangladesh - BNP to protest "compromising" treaties with India - Get your facts right Ruling Awami League led Grand Alliance partners Jatiyo Party chief and former President H M Ershad, Worker"s Party chief Rashed Khan, Jatiyo Samajtantrik Dal president Hassanul Haque Inu were among others accompanying Hasina at an air Force jet that flew off to Kolkata.

Vavasi-led group appoints valuer for Zain telco deal.

India’s Vavasi Group and Malaysia’s Al Bukhary Group have together appointed a merchant banker for conducting due diligence and fixing a valuation of Kuwait’s Zain Telecom. The two, along with BSNL and MTNL, the state-run telecom majors, have shown interest in jointly buying a 46 per cent stake in Zain. - BSNL, MTNL offered majority in Zain SPV - Zain-y - SIS aims to sell 10,000 video telephony devices by Dec "09 - BSNL aims at covering Uttar Pradesh (East) circle by fiscal-end - BSNL, MTNL offered majority in Zain SPV - Acquisition talks for Zain Telecom begin Sources close to Vavasi told Business Standard the group has informed both PSUs about the advisor. However, BSNL and MTNL would be conducting their own due diligence and valuation. After the two independent studies, the consortium would decide the price it would like to offer.