Canadian uranium miner for joint venture in India

CHENNAI – With India planning to acquire uranium mines abroad, Canadian uranium mining major Cameco has expressed interest in partnering with the Uranium Corp of India Ltd (UCIL) or Nuclear Power Corp of India Ltd (NPCIL) within or outside the country.

The $2.3 billion turnover company, having interests in uranium exploration, mining and nuclear power … Read more >>>.

World’s largest diamond bourse opens in Mumbai

MUMBAI – The world’s largest diamond exchange opens in the city’s business district Bandra-Kurla Complex on Sunday, taking India from a manufacturing to a trading hub and challenging the dominance of traditional centres like Belgium and Israel.

Bharat Diamond Bourse (BDB), designed by eminent architect Balakrishna Doshi and spread over 20 acres with nine interlinked …. Original article  : World’s largest diamond bourse opens in Mumbai.

Physical beauty ‘affects worldwide trends in fashion, cosmetics’

WASHINGTON – Physical attractiveness is a desirable quality is not a new notion, but a new study has revealed that it also affects worldwide trends in fashion, cosmetics and more recently, aesthetic surgery.

According to Anil Mathur of Hofstra University in New York and colleagues there and at the City University of New York, marketers cannot …. Source  : Physical beauty ‘affects worldwide trends in fashion, cosmetics’.

State Bank of India to issue more retail bonds

MUMBAI – The State Bank of India (SBI) Chairman O P Bhatt has said that he bank is aiming to issue retail bonds worth five billion rupees.

“State Bank has been talking about issue of retail bonds for quite some time. We believe that the investment opportunities that the Indian consumer, especially the customers of bank … Read this article on Gaea Times at : State Bank of India to issue more retail bonds.

Oz dollar hits parity with US greenback for first time since floated in 1983

CANBERRA – The Australian dollar has reportedly reached parity with the US dollar for the first time since it was floated in December 1983.

According to News.com.au, the Australian currency reached as high as US1.0003 dollars on Friday night before pulling back to stand at 99.14 US cents shortly after midnight and then …. Source  : Oz dollar hits parity with US greenback for first time since floated in 1983.

Sensex slips for second consecutive week (Weekly Market Review)

MUMBAI – The benchmark index for Indian stock markets fell two weeks in a row as domestic traders looked to book profits, with stocks having rallied handsomely in the past few months.

Foreign funds, however, continued with their persistent buying in the equities and bond markets, sparking off protests from the services sector to check … Original source on Gaea Times at : Sensex slips for second consecutive week (Weekly Market Review).

US deficit second largest in history

WASHINGTON – The hole in the US government budget remained in the stratosphere for 2010, lending more ammunition to opposition Republicans less than three weeks before mid-term elections.

The shortfall totalled $1.294 trillion in the fiscal year ended Sep 30, second only to the $1.416-trillion deficit in 2009, the Treasury Department said Friday.
Lingering unemployment …. Read the original article  : US deficit second largest in history.

BMW recalls 21,771 cars in China; Jaguar 30

BEIJING – German auto giant BMW has recalled more than 21,000 luxury sedans from Chinese customers to fix the faulty brake system, while British carmaker Jaguar Land Rover has announced the recall of its 30 Discovery 3 TDV6 diesel vehicles.

BMW’s vehicles which have been recalled include 21,383 imported BMW 5, 6 and 7 Series …. Read the original article  : BMW recalls 21,771 cars in China; Jaguar 30.

Progress in currency dispute as yuan strengthens: US

WASHINGTON – US Treasury Secretary Timothy Geithner said Friday that China has made progress in recent weeks in easing its undervalued currency, which has increasingly become an irritation in China’s trade relations with the US and other Western economies.

In a statement, Geithner “recognised China’s actions since early September to accelerate the pace of currency …. Original article on Gaea Times at  : Progress in currency dispute as yuan strengthens: US.

Russia, Venezuela agree on nuclear plant project

MOSCOW – Russia and Venezuela agreed Friday to jointly build what would be the South American country’s first nuclear power plant.

Russian President Dmitry Medvedev and his visiting Venezuelan counterpart Hugo Chavez were on hand while representatives of the two countries signed the agreement.
Sergei Kiriyenko, head of the Russian nuclear company Rosatom, said that …. Source article on Gaea Times at  : Russia, Venezuela agree on nuclear plant project.

Swiss break through Alps, creating world’s longest tunnel

SEDRUN – Swiss engineers broke through a final 180 cm of rock deep in the Alpine mountains Friday, linking the world’s longest rail tunnel.

The 57-km Gotthard Base Tunnel in southern Switzerland will be used for transport through the Alps, shortening current travel times.
Routes will be more direct and the trains will whiz through … Read more >>.

China’s Canton trade fair opens

BEIJING – China’s largest trade expo, the Canton Fair, opened Friday in the southern Guangdong province amid growing concerns that a stronger yuan would weigh on the country’s exports.

Over 23,500 firms from China and abroad are participating in the fair in Guangzhou provincial capital, organizers said.
Sellers and buyers at the fair are monitoring … Original article on : China’s Canton trade fair opens.

RBI will intervene if inflows turn lumpy: Subbarao

CHANDIGARH – Reserve Bank of India (RBI) Governor Duvvuri Subbarao on Friday said the central bank will intervene in the forex market if inflows turn lumpy and volatile.

The RBI had earlier on Thursday bought dollars to stem the rupee’s strength.

“I can only say that …. Source article  : RBI will intervene if inflows turn lumpy: Subbarao.

High Court approves RNRL merger with R-Power

MUMBAI – The Bombay High Court Friday gave green signal to the proposed merger of two Anil Ambani group companies, Reliance Power and Reliance Natural Resources Ltd (RNRL), to create a Rs.50,000-crore entity.

The High Court approved the Composite Scheme of Arrangement between Reliance Natural Resources Ltd. and Reliance Power and other group companies …. Read the original article  : here.

30 bank branches, 40 ATMs opened on a single day

MALAPPURAM – The South Indian Bank (SIB) Friday created history in the banking sector by opening 30 branches and 40 ATM centres across the country on a single day, a bank official here said.

The Thrissur-headquartered SIB, with 610 branches, also exceeded 1,000 banking outlets with more than 400 ATM centres.
The branches were opened … Read more »»».

India’s GSM subscribers base grows by 2.58 percent

NEW DELHI – India’s GSM mobile subscribers base grew 2.58 percent in September with the addition of over 12.4 million subscribers with the state-owned Bharat Sanchar Nigam Ltd.(BSNL) alone signing over 2.3 million users to gain a market share of 14.71 percent.

The total number of subscribers in the country crossed 494 million as … Read the original article on Gaea Times at : India’s GSM subscribers base grows by 2.58 percent.

Mukesh Ambani’s home world’s most expensive

WASHINGTON – Reliance Industries chairman Mukesh Ambani’s new 27-storey Mumbai skyscraper likely sets a record as the world’s most expensive residential home, according to Forbes magazine.

“India’s richest man, and the fourth-richest man in the world, has eschewed understatement,” the magazine said reporting Ambani’s plans to move into the 570-foot building, called Antila, this …. Original article  : Mukesh Ambani’s home world’s most expensive.

‘Delhi markets suffered huge loss during Games’

NEW DELHI – Markets in the national capital suffered huge losses during Oct 3-14 Commonwealth Games, a traders’ forum claimed Friday.

The Confederation of All India Traders (CAIT) claimed that a survey conducted among commercial establishments in Delhi found that the business went down by nearly 30-40 percent during the period.
“They (organisers) may be … Read more »».

Neyveli Lignite workers’ strike: Karunanidhi seeks PM’s help

CHENNAI – Tamil Nadu Chief Minister M.Karunanidhi has sought Prime Minister Manmohan Singh’s help in resolving the strike by contract workers in the Neyveli Lignite Corporation Ltd (NLC), warning about likely disruption in power generation.

In a letter to the prime minister, released to the media Friday, Karunanidhi referred to the nearly month-long strike by …. Read the original article  : Neyveli Lignite workers’ strike: Karunanidhi seeks PM’s help.

Environment panel to re-assess Navi Mumbai airport plan

NEW DELHI – The environment ministry’s Expert Appraisal Committee (EAC) will visit Mumbai next week to hold talks with the Maharashtra government on the Navi Mumbai airport project, Environment Minister Jairam Ramesh said Friday.

The City and Industrial Development Corporation of Maharashtra (CIDCO) Thursday submitted a revised draft of the project and the EAC team … Read the original article on Gaea Times at : Environment panel to re-assess Navi Mumbai airport plan.