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BHP Billiton, Rio JV could curb China's control on ore prices
India, with exports of over 100 million tonnes of iron ore, must be keenly watching as to how soon the recently sealed joint venture (JV) between BHP Billiton and Rio Tinto to combine their mining operations in the Pilbara region of Western Australia will cross the regulatory hurdles at European Union Competition Commission and also China’s competition regulator. However, sweetly the JV is now framed to placate raising of market dominance questions, iron ore buyers fear that pooling of knowledge about production volumes and demand by the pair in JV will put them at a distinct disadvantage.

No new place of worship at public places: SC
The problem of traffic snarls due to places of worship on public roads will not compound with the Supreme Court today ordering that there would be no fresh construction of sites of worship on any public road or lane.

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Basu responding to treatment: Yechury
Ailing Jyoti Basu is responding to treatment and there is a positive change in his health condition, CPI(M) politburo member Sitaram Yechury said today.
International Business

HUL to sell 7 residential properties in Gurgaon, Mumbai

FMCG major Hindustan Unilever (HUL) has put up a total of seven residential properties for sale in Mumbai and Gurgaon, which could fetch around Rs 35 crore. - Chinese, made in India - Godrej to consolidate business by acquiring foreign brands - Bunge India: Dalda vs "dalda"">Bunge India: Dalda vs "dalda" - Cleaning up - Analysts' corner - Dabur plans second manufacturing unit in Egypt The company has made public announcement that it is selling five residential properties in Mumbai"s prime locations of Cuff Parade and Vile Parle, which includes four two-bedroom and one three-bedroom flats. The total saleable area is around 6,796 sq foot. As per real estate consultants CBRE"s property price estimates of these localities, these residential units could together be worth around Rs 28 crore. HUL is also putting on block two residential plots at Gurgaon, which has a total area of 840 sq metres. As per market estimates, the minimum price for plots are estimated to be Rs 2.5 crore each. Query sent to the company seeking details of the property sale remained unanswered. The company, however, had earlier said that it may sell some of company-owned properties in Mumbai to unlock business value. HUL is understood to own around 25 residential properties in Mumbai"s prime locations, including as Malabar Hills, Church Gate and Andheri.


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