South Indian Bank Q2 net profit up at Rs.77 crore

THRISSUR – Private sector South Indian Bank (SIB) Thursday declared its highest ever quarterly net profit of Rs.77.00 crore for the second quarter as against Rs.72.56 crore for the corresponding period of the previous year.

The total business of the bank increased by Rs.9,942 crore to Rs.43,089 crore from Rs.33,147 crore on a year-on-year basis, … Read more : South Indian Bank Q2 net profit up at Rs.77 crore.

Last Day For Coal India IPO Subscription

MUMBAI, INDIA (Gaea Times.com) Coal India IPO received a positive response in the market from institutional investors, with today being the last day for retail and High Net Worth Individuals. Coal India saw a subscription of 12 times, received bids for 742 crore equity shares as against the issue of 63.2 crore shares. …. Source article  : Last Day For Coal India IPO Subscription.

Cochin Shipyard bags Rs.1,500 cr Coast Guard order

KOCHI – Cochin Shipyard Limited (CSL) has received an order of Rs.1,500 crore to build 20 fast patrol vessels (FPV) for the Coast Guard, the company said here Thursday.

According to the shipyard, this is the single biggest contract executed by Coast Guard and would go a long way to beef up the coastal …. Original article on Gaea Times at  : Cochin Shipyard bags Rs.1,500 cr Coast Guard order.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 44.36 and the Reference Rate for Euro is ` 61.95 on October 21, 2010. The corresponding rates for the previous day (October 20, 2010) were ` 44.29 and ` 61.05 respectively. Based on the Reference Rate for … Original source on Gaea Times at : RBI Reference Rate for US $ and Euro.

India’s annual food inflation falls to 15.53 percent

NEW DELHI – India’s annual food inflation fell to 15.53 percent for the week ended Oct 9 from 16.37 percent in the previous week on improved supplies of food articles and lower prices of some vegetables.

Official data released Thursday showed the annual inflation rate for the primary articles group also fell to 18.05 … Read the original article on Gaea Times at : India’s annual food inflation falls to 15.53 percent.

China’s economic growth slows to 9.6 percent third quarter

BEIJING – China’s economic growth continued to decelerate duering the third quarter of this year, as the government started to pull out the fiscal stimulus package, even as rising inflation has started to pose new challenges.

The gross domestic product (GDP) grew 9.6 percent in the third quarter over the like period of last year, …. Source  : Gaea News Network.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on October 21, 2010 are:

Amount  (face value in ` crore)                         

Item

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

1 day Repo Auction 
…. Original article on Gaea Times at  : Liquidity Adjustment Facility : Auction Results.

BlackBerry boss hits out at Apple’s Steve Jobs

TORONTO – Hitting back at Apple boss Steve Jobs who Monday claimed that “we have now passed RIM (Research In Motion)” in smartphone sales, BlackBerry maker co-CEO Jim Balsillie says his rival is trying to create a “distortion field” to manipulate customers.

In the battle of two titans which began with Jobs firing the first …. Read the original article  : BlackBerry boss hits out at Apple’s Steve Jobs.

Pakistan turns down World Bank, ADB loan

ISLAMABAD – Pakistan has turned down a $2 billion loan from the Asian Development Bank (ADB) and another $1 billion loan from the World Bank to reconstruct infrastructure destroyed by the devastating floods. Islamabad has now decided to rebuild “from its own resources”.

The News International cited sources as saying that the move stunned the … Read this article on Gaea Times at : Pakistan turns down World Bank, ADB loan.

Tokyo shares mixed on yen’s ups and downs, US gains

TOKYO – Tokyo stocks were mixed in morning trading Thursday after overnight gains on Wall Street and fluctuations in the yen.

The benchmark Nikkei 225 Stock Average gained 18.91 points, or 0.2 percent, to trade at 9,400.51 while the broader Topix index was down 3.05 points, or 0.37 percent, at 820.64.
An initially stronger yen … Read more : Tokyo shares mixed on yen’s ups and downs, US gains.

Sensex up 133 points in morning trade

MUMBAI – A benchmark index of Indian equities Thursday moved up 133 points higher in morning trade.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,951.34 points, was ruling at 20,005.75 points, up 133.60 points or 0.67 percent at 19,872.15 points.
At the National Stock Exchange (NSE), the 50-share … Read : Sensex up 133 points in morning trade.

Money Market Operations as on October 20, 2010

…. Original article on Gaea Times at  : Money Market Operations as on October 20, 2010.

US stocks rebound on earnings’ reports

NEW YORK – Wall Street was buoyed Wednesday by corporate earnings’ reports from several major airlines and other companies, ending higher after the previous day’s sharp declines.

Yahoo said its income more than doubled to $396 million from $186 million in the year-ago quarter after markets closed Tuesday.
Delta Airlines, the second-largest US carrier, Wednesday … Read more : US stocks rebound on earnings’ reports.

Japanese bank to increase investments in Emirati projects

Abu Dhabi, Oct 20 (IANS/WAM) A leading Japanese financial institution Wednesday assured the United Arab Emirates of increasing Japanese investments in various Emirati projects.

Executive director of the Japan Bank for International Cooperation (JBIC) Fumio Hoshi met with UAE Minister of Foreign Trade Sheikha Lubna Al Qasimi here and discussed ways of strengthening relations between …. Original source  : Japanese bank to increase investments in Emirati projects.

US to announce massive arms sale to Saudi Arabia

WASHINGTON – The US is expected to announce an arms deal with Saudi Arabia Wednesday worth up to $60 billion that would include advanced fighter jets, helicopters and other weaponry in what amounts to the largest US arms deal ever.

The Obama administration was also to inform Congress of the deal after weeks of discussions …. Original article on Gaea Times at  : US to announce massive arms sale to Saudi Arabia.

Bangladesh commerce minister arrives Thursday

NEW DELHI – Bangladesh Commerce Minister M. Faruk Khan will arrive here Thursday on a three-day visit during which he will hold talks with his Indian counterpart over strengthening bilateral trade.

The Bangladeshi minister will be accompanied by a 20-member delegation comprising of heads of different business chambers.
He will hold talks with Indian Commerce … Read this article on Gaea Times at : Bangladesh commerce minister arrives Thursday.

Four lakh vehicles added on Delhi roads

NEW DELHI – As many as 6,352,939 vehicles plied on Delhi roads during 2009-10 — a good four lakh jump from the previous year, a report said Wednesday.

According to the Delhi Statistical Hand Book-2010 prepared by the Directorate of Economics and Statistics, as many as 6,352,939 vehicles, including 2,013,680 jeeps and cars, were registered … Read this article on Gaea Times at : Four lakh vehicles added on Delhi roads.

Rediff introduces mobile email service

NEW DELHI – Rediff in partnership with Mahanagar Telephone Nigam Ltd (MTNL) Wednesday introduced a mobile email service for Rs.50 a month.

“We will provide quite secure and user-friendly services. Its most features are like BlackBerry. But it is cheaper, more importantly, works on most phones including entry-level phones, said Ajit Balakrishnan, chairman and CEO …. Original article on Gaea Times at  : Rediff introduces mobile email service.

Innovation key to solving country’s critical problems: PM

NEW DELHI – Prime Minister Manmohan Singh Wednesday said that innovation in conservation methods is key to solving the critical challenges our nation faces in providing food, water and energy security to the people.

“In India we have lived with the idea of being a resource-rich land, taking for granted the limitless bounty of …. Read the original article  : Innovation key to solving country’s critical problems: PM.

On-the-spot police recruitment begins in Jammu and Kashmir

JAMMU – Chief Minister Omar Abdullah Wednesday launched an on-the-spot police recruitment drive in the backward area of Warwan in Jammu and Kashmir’s Kishtwar district as part of efforts to grant jobs in remote areas.

It was after a gap of more than a decade that the drive was re-launched Wednesday. Omar’s father and former …. Original source  : On-the-spot police recruitment begins in Jammu and Kashmir.