Obama visit may unshackle high-tech exports to India

WASHINGTON – Going by the buzz in industry circles, easing of US export controls and removal of key Indian units from the banned ‘Entities List’ could well be the next big thing during President Barack Obama’s visit to India.

At present India is denied technology in 11 of the 16 categories, just one short of … Read this article on Gaea Times at : Obama visit may unshackle high-tech exports to India.

Terminal 3 to welcome domestic flights from Oct 30

NEW DELHI – Domestic flights will start operating from the Indira Gandhi International Airport’s newly built Terminal 3 (T3) from Oct 30 to ensure seamless transfer of international passengers, said a Delhi International Airport Ltd (DIAL) official.

The first domestic flight is scheduled to take off from Terminal 3 at 5 a.m. on Oct …. Source article  : Terminal 3 to welcome domestic flights from Oct 30.

Scrap fuel price deregulation, demands CPI-M

NEW DELHI – The Communist Party of India-Marxist (CPI-M) Monday asked the central government to scrap deregulation in petrol pricing, after public sector oil companies increased prices twice in the past three weeks.

“By deregulating petrol pricing, the government has opened the way for successive hikes in prices,” the CPI-M politburo said.
“The public sector … Read more »»».

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on October 18, 2010 are:
Amount (face value in ` crore)                        

Item

1 day Reverse Repo Auction (Sale of securities by RBI)

1 day Repo Auction 
…. Source  : Gaea News Network.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 44.26 and the Reference Rate for Euro is ` 61.45 on October 18, 2010. The corresponding rates for the previous day (October 15, 2010) were ` 44.03 and ` 61.95 respectively. Based on the Reference Rate …. Source  : Gaea News Network.

Sensex slips further as selling intensifies

MUMBAI – A benchmark index of Indian equities slipped further in noon trade Monday on sustained selling that spread to the broader markets.
The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,160.55 points, was ruling at 19,938.71 points, down 186.34 points or 0.92 percent from its previous close … Read more >>.

Curfew imposed in Srinagar to scuttle separatist march

SRINAGAR – Shops, offices were closed and public transport was off the roads in Srinagar Monday as authorities re-imposed curfew but only in six areas of the city to scuttle the separatist protest march in Jammu and Kashmir.

“Curfew has been imposed in six police station areas of Srinagar city and Baramulla and Kupwara districts … Read more »»».

Fields full of ripe paddy in valley of unrest

SRINAGAR – As the soothing autumn sun shines over the Kashmir Valley, farmer Ghulam Muhammad, 31, feels satisfied when he surveys his abundant paddy crop. The yield has been good this year, and farming activity in the valley has remained untouched by the ongoing unrest in the towns.

Farmers like Muhammad are busy harvesting, threshing … Read more »»».

Floods leave Pakistani textile firms in need of Indian cotton

ISLAMABAD – Pakistan’s textile industry, hit by a record hike in cotton prices following a massive crop damage in the recent floods, has become dependent on the import of clothing material from India to sustain its order books, say experts.
Pakistani cotton traders worry that any cancellation of Indian contracts or even delays in …. Read the original article  : Floods leave Pakistani textile firms in need of Indian cotton.

Bombardier unveils two long-haul corporate jets

TORONTO – Bombardier, a world leader in metro and corporate aviation, has unveiled two new jets, the Global 7000 and Global 8000, to reaffirm its undisputed position in the large business jet category.
While the Global 7000 will have a range of 13,520 kilometres, the Global 8000 will be able to fly a globe-girdling …. Read the original article  : Bombardier unveils two long-haul corporate jets.

Sensex slips below 20,000 points in early trade

MUMBAI – A benchmark index of Indian equities Monday slipped below the 20,000-mark after opening some 35 points lower compared with the previous close.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,160.55 points, was ruling at 19,974.52 points, down 150.53 points or 0.75 percent from its previous close … Read the original article on Gaea Times at : Sensex slips below 20,000 points in early trade.

Tokyo shares rise in mid-morning trading

TOKYO – Tokyo stocks rose slightly in mid-morning trading Monday, with gains in high-technology issues even as the strong yen dragged down the market.

The 225-issue Nikkei Stock Average gained 0.50 percent, or 47.41 points, from Friday’s close. The broader Topix index of all First Section issues rose 7.46 points, or 0.90 percent.
Mazda Motor … Read more »»».

Money Market Operations as on October 15, 2010

… Original article on : Money Market Operations as on October 15, 2010.

YouTube sued for ‘derogatory’ video by Toronto cop

TORONTO – Posting online comments or YouTube videos anonymously may soon be over if some recent cases are anything to go by.

A Toronto cop, who was mocked after videos of his actions during the G-20 summit here in June were posted on YouTube, is suing Google for $1.2 million in damages and seeking the … Original article on : YouTube sued for ‘derogatory’ video by Toronto cop.

Soured on Obama, voters motivated by economic frustrations

SCRANTON – Kelli Henning has sent out 85 job applications in recent months, to no avail.

Despite her 14 years of experience managing a corner store, the 33-year-old resident of Scranton, Pennsylvania, has been unable to find work. Along with her husband, she has been seeking assistance at the state job training centre.
“They say …. Source  : Gaea News Network.

Sharjah Islamic Bank posts $52 mn Q3 profit

Sharjah, Oct 17 (IANS/WAM) The Sharjah Islamic Bank Sunday posted a third quarter net profit of 191.6 million dirhams (about $52 million).

The balance sheet grew since December 2009 with total assets reaching 16.3 billion dirhams from 16 billion dirhams.
Liquid assets rose by 410.2 million dirhams to reach 3.6 billion dirhams, up … Original article on : Sharjah Islamic Bank posts $52 mn Q3 profit.

UAE, Algeria sign cooperation agreement

Algiers, Oct 17 (IANS/WAM) The UAE and Algeria Sunday signed an agreement to boost cooperation and dialogue between their parliaments.

Visiting UAE Federal National Council (FNC) speaker Abdul Aziz Al Ghurair and Algerian National People’s Assembly speaker Abdelaziz Ziari signed the document here.
At a press conference, Al Ghurair described his talks with … Read more : UAE, Algeria sign cooperation agreement.

2G spectrum scam may be India’s biggest scandal: Advani

NEW DELHI – Senior Bharatiya Janata Party (BJP) leader L.K. Advani said Sunday that the 2G spectrum scam may be the country’s biggest scandal since Independence.

The BJP leader also welcomed the move by the government to set up a committee to look into the preparations for the 2010 Commonwealth Games and hoped that … Read more : 2G spectrum scam may be India’s biggest scandal: Advani.

China’s GDP to grow nine percent in 2011

BEIJING – China’s GDP will grow by nine percent next year although rising labour costs will hit the economy, a media report said Sunday.

Liu Shijin, deputy director of the Development Research Centre of the State Council, made the forecast at a forum organised by the Bank of Communications, China Daily reported.
Liu forecast …. Original article on Gaea Times at  : China’s GDP to grow nine percent in 2011.

India’s largest initial public offering opens Monday

MUMBAI – State-run Coal India’s $3.5 billion dollar initial public offering (IPO), the biggest in the history of Corporate India, will open Monday at a price band of Rs.225-245 a share, setting the direction for the stock market this week.

The mega public float, experts believe, is expected to attract foreign investors and lead to … Read the original article on Gaea Times at : India’s largest initial public offering opens Monday.