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The taxman rings again
Google: If you can’t beat them, tax them. Nicolas Sarkozy, the French president, has just added his voice to the chorus of those who have long demanded that Google be penalised for its dominance of the online advertising market. He has asked the government to find ways to get Google to pay at least some taxes in France. This come on the heels of a government-commissioned report suggesting online advertising should be taxed to the tune of 1-2 per cent of revenues, to help subsidise the French music industry and other online content providers. Both approaches are wrong. Worse, the French government’s Google obsession can only backfire.

CRR hike won't impact interest rates, industry: Fin Secy
Finance Secretary Ashok Chawla today said the Reserve Bank of India"s (RBI) review policy has taken a balanced view of the current situation and the CRR hike would not have any affect either on interest rates or the industrial recovery.

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Better safe than sorry
Business Standard / New Delhi December 25, 2009, 0:31 IST
Business Opportunities

Astec LifeSciences IPO price fixed at Rs 82

Agro-chemical and pharma company Astec LifeSciences today said that it has fixed the price of its initial public offer at Rs 82 per equity share, the upper end of the price band. - Cox & Kings fixes IPO price band at Rs 316-330 - Expensive formulation - Astec fixes price band between Rs 77 and Rs 82 - Pipavav Shipyard fixes IPO price at Rs 58 - Oil India IPO price fixed at Rs 1,050/share - Oil India IPO price fixed at Rs 950-1,050 a share The company entered the capital market on October 29 with a public issue of 75,00,000 equity shares of Rs 10 each and a price band of Rs 77 to Rs 82 per equity share. The issue, which was made through a 100 per cent book building process, has been oversubscribed 1.55 times, the company said in a statement here. The book-running lead manager of the IPO is Almondz Global Securities. The objective of the IPO is to raise funds for the company’s expansion plans for its production and research and development units in Maharashtra. Astec plans to expand the production capacity of its unit in Mahad from the current 2,800 metric tonnes to 3,950 metric tonnes. The company will also upgrade its research and development facility at Dombivli near here that would enable it to carry out research on more complex molecules and to undertake contract research activities. The proceeds of the IPO would also be utilised to register two products in Brazil and six products in the country.


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