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Canon India's revenue from government grows 25%
Canon, the Japanese imaging and printing firm, has grown its revenue from the government vertical by 25 per cent and will end end this calender year with a revenue of Rs 850 crore. The sector was just 15 per cent of its business in 2008. “Although our growth was down to 18 per cent in the first quarter 2009, we will close the fourth quarter with a growth rate nearing 30 per cent. This growth has come from timely remodeling of our India strategy,” said Alok Bharadwaj, senior vice-president, Canon India.

Kerala plans Islamic bond as Dubai may curb funds
Kerala, which relies on West Asian remittances for a quarter of its economy, plans to sell the nation’s first Islamic bonds next year to help pay for infrastructure projects.

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Vizag port to invite fresh bids for two berths
Visakhapatnam Port will soon invite fresh bids for construction of two berths under public-private partnership.
Public Relations

EPFO decision on entering stock mkts likely by Dec 5

If the Finance and Investment Committee (FIC) of the Employees’ Provident Fund Organisation (EPFO), scheduled to meet here on December 1, takes a final call on investing a portion of its massive corpus in the capital markets, as much as Rs 13,000 crore could flow into equities. - EPFO seeks approval for higher equity exposure - Decision on investing EPFO funds in stock market deferred - 8.5% interest rate to stretch EPF coffers The FIC meeting will decide on whether to park a portion—to the tune of three to five per cent—of the fund’s corpus of Rs 2.71-lakh crore, into the equities markets. If the FIC gives a go ahead, its recommendation will go to the Central Board of Trustees (CBT), the apex body of the EPFO. The CBT is likely to meet and decide on the issue at its meeting scheduled for December 5. Generally, the CBT upholds the FIC’s recommendations. “The FIC would meet on December 1 to firm up views on investing three to five per cent of the EPFO corpus in the stock markets,” sources in the Labour Ministry said. “The CBT meeting has also been scheduled on December 5 and is likely to take a call on the issue of investment in stock markets,” they added. The issue has been in debate for quite some time now.


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