Finmin failed to address price situation: Par panel.

A Parliamentary panel today pulled up the Finance Ministry for its failure to take timely action to contain inflation and asked the government to take immediate steps to provide relief to common man reeling under rising food prices. - Symbol for rupee in final lap - Centre requests states to import foodgrains to support PDS - Customs duty cut for brownfield power projects - Industry starts pre-Budget talks with FinMin - FMCG firms to be hit if hill state tax benefits withdrawn - Assocham suggests setting up coal trading It also suggested amending the Essential Commodities Act to check hoarding and speculation. "The Ministry of Finance...Has obviously failed to intervene timely and squarely address this burning issue (price rise) with due seriousness," said the Standing Committee on Finance in its report on inflation.

Ranbaxy to launch generic version of Flomax next year.

Pharma company Ranbaxy Laboratories today said it will launch a generic version of the urinary disorder treatment drug-- Flomax, next year. - Fortis in talks to buy Lanka hospital chain - Ranbaxy exits generic drugs JV with Japanese firm - Japan"s largest drug maker Takeda plans India foray - Sunny re-rating of pharma companies - "We are moving towards a larger addressable market" - Avon to gain from nod to Ranbaxy"s drug "We will launch a generic version of the urinary disorder treatment Flomax in March 2010," Ranbaxy Laboratories CFO Omesh Sethi told reporters on the sidelines of a seminar here. "We would launch another big one in 2014," he said, without naming it. "We are doing well and expect a good revenue from domestic and global markets in the next financial year," Sethi said.

Harrisons Malayalam set for diversification.

Harrisons Malayalam Ltd (HML), the integrated agriculture player which is part of the RPG group, is mulling entry into the fruit juice segment in a year’s time. The company produces pineapple and passion fruit at its plantations in Kerala and is evaluating branching out into fruit juice. - Atlas Acquisition to buy Koosharem Corp for $840 mn - Dabur to enter ready-to-cook food business - FMCG firms to be hit if hill state tax benefits withdrawn - Dabur looks at buys in West Asia, Africa - Godrej Sara Lee can advertise product virtues: HC - KIT: The Indian market for ayurvedic cosmetics “We are looking at fruit juice as a value addition to our products.

IOC appoints three merchant bankers.

State-run Indian Oil Corp (IOC) has appointed three merchant bankers for its maiden overseas bond issue of $500 million (Rs 2,325 crore). - IL&FS Investsmart to discontinue insurance broking biz - IOC wants 50,000 acres for biofuel cultivation in UP - Manufacturing in dec at 7-month high, PMI shows - Manufacturing reaches top in 7 months, says HSBC study - Add debt for portfolio stability - Yodlee"s account aggregation software powers Artha Money IOC has appointed HSBC, Standard Chartered and Deutsche Bank for the issue likely this year, official sources said here. The company has not decided on the exact timing of the issue, which would go to fund its capital expenditure requirement.

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