RBI wants banks to serve villages, says official

AGARTALA – The Reserve Bank of India (RBI) has asked nationalised banks to provide services in all villages and human habitations with a minimum population of 2,000, United Bank of India (UBI) chairman Bhaskar Sen said here Tuesday.

“By 2012, all the human habitations with a population of at least 2,000 people, should be brought under … Read the original article on Gaea Times at : RBI wants banks to serve villages, says official.

R-Cap targets Rs.50,000 cr infrastructure lending

MUMBAI – Reliance Capital (R-Cap), a part of the $10-billion Anil Dhirubhai Ambani Group, Tuesday said it will offer specialised financial services for infrastructure projects with a target of Rs.50,000 crore as asset base and 18-20 percent return.

“Over the next few years, India is projected to spend over $1 trillion or Rs.50 lakh crore in …. Original source  : R-Cap targets Rs.50,000 cr infrastructure lending.

Splendor Pro Launched By Hero Honda

DELHI, INDIA (GaeaTimes.com)- Hero Honda the biggest two wheeler maker in India has launched a new variant of its popular model Splendor with an attractive price tag. Earlier also the company launched several variants of the model and all of the models managed to get applause from the buyers. The changes are not ground breaking …. Source article on Gaea Times at  : Splendor Pro Launched By Hero Honda.

World stock markets slide as Europe finance jitters offset flurry of corporate deals

World markets slide as bank worries offset deals

BANGKOK – World stock markets sank Tuesday as renewed worries about the health of Europe’s banks offset optimism from a flurry of corporate deal making.
The lackluster performance in Asia and Europe followed a down session on Wall Street, where losses were led by financial stocks after Moody’s Investors …. Source article  : World stock markets slide as Europe finance jitters offset flurry of corporate deals.

Huge potential for private charter jet business in India

THIRUVANANTHAPURAM – The private charter jet market in India has a huge potential as more and more people fly in swanky jaircraft for business and holidays, says Adam Twidell, who heads the British company, Private Fly.

“This is a business which is waiting to happen here because there is no shortage of multi-millionaires in India. I …. Original source  : Huge potential for private charter jet business in India.

Data on ECB/FCCB for August 2010

The Reserve Bank of India has today released the data on External Commercial Borrowings (ECB) (www.rbi.org.in/scripts/ECBUserView.aspx?Id=81) and Foreign Currency Convertible Bonds (FCCB), both through Automatic Route and Approval Route, for the month August 2010.

Ajit Prasad
Manager
Press Release: 2010-2011/441

… Read more : Data on ECB/FCCB for August 2010.

Bangladesh to pay more for China loan than for Indian loan

DHAKA – To set up a fertiliser factory and lay out a telecom network, Bangladesh will be paying more for a Chinese $770 million loan than for India’s $1 billion commitment.

It is accepting the Chinese condition for selecting two Chinese firms because it has no alternative source of funding for these projects, officials said.
Such …. Original article  : Bangladesh to pay more for China loan than for Indian loan.

German consumer confidence shows strong gain amid optimism on economy and jobs

Job optimism boosts German consumer confidence

BERLIN – German consumer confidence has jumped as economic expectations spiked to their highest level in three years and unemployment continues to fall, according to a survey released Tuesday.
The GfK research institute said its forward-looking confidence indicator for October stood at 4.9 points. That was up from 4.3 in September, …. Original source  : German consumer confidence shows strong gain amid optimism on economy and jobs.

India’s Arvind to set up denim plant in Bangladesh

DHAKA – Arvind, Indian textile maker and the world’s largest manufacturer of denim, will set up a denim manufacturing plant in Bangladesh with an investment of $66 million over three years, officials in Bangladesh said.

The Indian company signed an agreement with the local Nitol Group here last Sunday to invest in Comilla Export Processing Zone … Original article on : India’s Arvind to set up denim plant in Bangladesh.

Reliance Capital to list insurance arm, enter banking

MUMBAI – The Reliance Anil Dhirubhai Group Tuesday said it was looking closely to list its insurance business on stock markets apart from entering the commercial banking industry in the near term.

“Reliance Life was the first Indian insurance company to announce its plans for listing in 2009. The insurance regulator is currently at an advanced … Read more >>.

Oil slides below $76 in Asia as investors look to US supply figures for clues on demand

Oil slides below $76 as traders eye US supplies

SINGAPORE – Oil prices slid below $76 a barrel Tuesday in Asia as traders awaited the latest U.S. supply figures for clues about the strength of demand for crude.
Benchmark crude for November delivery was down 63 cents to $75.89 a barrel at late afternoon Singapore time in … Read more : Oil slides below $76 in Asia as investors look to US supply figures for clues on demand.

Brainstorming rules ‘can lead to success in real-world business settings’

WASHINGTON – North Carolina State University researchers have found that steps taken to make brainstorming sessions more productive can actually lead to success in real-world business environments.

“We found that, when tackling complex issues, the use of best practices to produce high-quality brainstorming did result in better decision-making,” said Dr. Joe Brazel.

“When an audit team had …. Read the original article  : Brainstorming rules ‘can lead to success in real-world business settings’.

Reliance Power concludes India’s largest fundraiser

MUMBAI – Top private energy-generation firm Reliance Power Tuesday said it has successfully concluded India’s largest fundraising exercise by any company worth Rs.50,000 crore ($11.1 billion) to finance 10,000 MW worth of projects.

Addressing the company’s annual general meeting here, group chairman Anil Ambani said the money raised had helped financial closure for two ultra-mega power … Original source on Gaea Times at : Reliance Power concludes India’s largest fundraiser.

Recession’s impact: Census shows growing income gap as young adults, children take big hits

Census finds record gap between rich and poor

WASHINGTON – The income gap between the richest and poorest Americans grew last year to its widest amount on record as young adults and children in particular struggled to stay afloat in the recession.
The top-earning 20 percent of Americans – those making more than $100,000 each year – …. Original source  : Recession’s impact: Census shows growing income gap as young adults, children take big hits.

To avoid government shutdown by end of week, Senate to move on stopgap spending bill

Senate to move on stopgap spending bill
WASHINGTON – Lawmakers are largely ignoring an Obama administration shopping list as they fashion a stopgap spending bill that’s needed to avoid a government shutdown Friday.

The Senate could pass the measure as early as Wednesday, after a likely test vote Tuesday, and the House could clear it for President … Read more >>.

Senate Democrats try to claim campaign issue, punish firms that move operations overseas

Senate Dems try to punish firms that export jobs

WASHINGTON – U.S. companies that close domestic plants and open new ones overseas would see their taxes increase under a bill Democrats are bringing before the Senate Tuesday for one of the last votes before lawmakers head home for the November election.
Companies that import jobs to the …. Source  : Senate Democrats try to claim campaign issue, punish firms that move operations overseas.

Hollywood maker of ‘Clash of Titans,”Inception’ sells 3.3 percent stake to Chinese studio

US production house sells stake to Chinese studio

HONG KONG – The Hollywood production house behind hits including “Clash of the Titans” and “Inception” has sold a 3.3 percent stake to a Chinese studio for $25 million, as American filmmakers strike partnerships that help them tap an increasingly lucrative foreign market.
China’s Orange Sky Golden Harvest Entertainment …. Original source  : Hollywood maker of ‘Clash of Titans,’ ‘Inception’ sells 3.3 percent stake to Chinese studio.

With Schwarzenegger signature, Calif. restricts toxic metal cadmium in children’s jewelry

New Calif. law limits toxic cadmium in jewelry

LOS ANGELES – California became the largest state to limit the toxic metal cadmium in children’s jewelry on Monday, effectively creating a new national standard ahead of promised federal action.
Lawmakers and public health officials have worried that kids who suck or bite jewelry containing cadmium – a known …. Source  : Gaea News Network.

Goa tar balls created ripples in Moscow too

PANAJI – Extensive media coverage of tar balls swamping Goa’s beaches has created a few ripples in far away Moscow too, a top tourism department official has said.

Tourism director Swapnil Naik, who has returned from a tourism promotion event in Russia, told IANS Monday that the tourism industry captains there were keen on knowing [..] Read the original article: here.

Reliance Power to raise capacity to 5,000 MW in 24 months

MUMBAI – Reliance Power, a part of the Anil Dhirubhai Ambani Group, Tuesday said it will raise its installed power-generation capacity manifold over the next 24 months to touch 5,000 MW, with an ambitious target of 25,000 MW by 2015.

Addressing the company’s annual general meeting here, group chairman Anil Ambani said Reliance Power has also …. Read the original article  : here.