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Mumbai ODI washout hits Oriental Insurance
Cricket fans were not the only ones left disappointed by the cancellation of the India-Australia one-day international (ODI) match today that was to be played at the DY Patil Stadium in Navi Mumbai. Public sector insurer Oriental Insurance will have to pick up the tab for claims worth Rs 6.75 crore.

Mamata eyes Jharkhand votes
Buoyed by the Trinamool Congress’ success in the just-concluded Arunachal Pradesh elections in which it won five seats, party chief Mamata Banerjee has decided to field candidates in the upcoming Jharkhand elections as well. Even as the Congress is irked by Banerjee’s zeal as her party eats into its votebank, Banerjee is determined to make the Trinamool a registered national party by increasing its vote share in other states. The two parties are partners in the United Progressive Alliance but Banerjee is yet to decide if the Trinamool will support the Congress government in Arunachal Pradesh or sit in the opposition. Banerjee is also looking at constituencies in the East Singhbhum area — with a considerable Bengali population — as her target constituencies in Jharkhand.

News of the day

Exports grow by 18% in Nov to $13.2 billion
India"s exports grew over 18 per cent to touch $13.2 billion in November, reversing the downtrend seen in the past 13 months in a row due to shrinking in demand in major western markets.
International Business

Tatas to promote IT SEZ in Chennai

Tata Realty and Infrastructure Ltd (TRIL), a 100 per cent subsidiary of Tata Sons Ltd, will invest Rs 3,500 crore in setting up an information technology (IT) Special Economic Zone (SEZ) at Taramani, Chennai. The project will have both commercial and residential projects. - Adani Group intends to increase area of its SEZ in Mundra - Govt"s green SEZ policy favours solar power - Govt likely to prune states" infra allocation - Motif eyes SEZ space for new centre - Posco asked to file afresh for SEZ - Finance commission group wants five GST exemptions The project is named Ramanujan IT City, in memory of the legendary mathematician, Srinivasa Ramanujan. It will come up on 26 acres off the Old Mahabalipuram Road. This project also envisages development of a premium residential community called ‘Cambridge Greens’, to be ready for occupancy by mid-2011. It is being promoted by TRIL Infopark Ltd, a joint venture between Tata Realty and Infrastructure Ltd, state-run Tamil Nadu Industrial Development Corporation & Indian Hotels Company Ltd. There will also be a premium retail mall and entertainment centre, besides an international convention venue. Cambridge Greens will comprise 150 ‘super luxury’ apartments, each between 2,000 and 3,000 sq ft. Sanjay Ubale, managing director and chief executive officer of TRIL, said: “Chennai is fast emerging as a hub of technological advances, especially in IT. Ramanujan IT City aims to be the most sought property in the vicinity, with excellent connectivity, concentration on social infrastructure and contemporary architectural design. The residential complex, Cambridge Greens, will have walk-to-work convenience with the adjoining IT SEZ and retail mall, comprising leading international brands. It is our endeavour to offer world-class amenities and services catering to upwardly mobile people.”


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