Toyota Recall October 2010 Makes Headlines

AICHI, JAPAN (GaeaTimes.com)- The year 2010 has proved to be particularly bad for Japanese car maker Toyota motors. The shadow of recall is not leaving the famous car maker since the beginning of the year. The latest recall announced by Toyota becomes effective in October 2010. It was on Thursday that Toyota Motors … Read the original article on Gaea Times at : Toyota Recall October 2010 Makes Headlines.

IBS to host global aviation conference in Dubai next week

THIRUVANANTHAPURAM -Kerala-based travel and logistics software provider, IBS Software Services, is expecting to win more clients as passenger movements would be up by 7.5 per cent and cargo by 18.5 per cent this fiscal, according to the International Air Transport Association (IATA).

“In the last two years we have got 70 per cent of the …. Original source  : IBS to host global aviation conference in Dubai next week.

China vies with India for Nepal power project

KATHMANDU – Three Indian companies and an Indian joint venture are vying with three Chinese companies for a hydropower project in Nepal, underscoring the two giant neighbours’ growing interest, presence and eventual rivalry in Nepal’s energy industry.

Larsen and Toubro, and Mumbai’s Jyoti Structures Ltd and KEC International Ltd are the three Indian companies that … Read this article on Gaea Times at : China vies with India for Nepal power project.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on October 22, 2010 are:

Amount  (face value in ` crore)                         

Item

3 days Reverse Repo Auction
(Sale of securities by RBI)

3 days Repo Auction 
…. Read the original article  : Liquidity Adjustment Facility : Auction Results.

Sensex languishes in afternoon trade

MUMBAI – A benchmark index of Indian equities was ruling dull in highly range-bound trade Friday afternoon, although buying was seen in broader markets.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,334.14 points, was ruling at 20,228.66 points, down 31.92 points or 0.16 percent from its previous … Read : Sensex languishes in afternoon trade.

Nepal Maoists halt India-aided railway survey in Nepal

KATHMANDU – Keeping its sights trained on India-aided projects in Nepal, the opposition Maoist party has now obstructed the survey on a railway project in southern Nepal that is being funded by the Indian government to improve transport links between the two neighbouring countries and boost trade.

A detailed engineering survey of the 68km long …. Source  : Gaea News Network.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 44.46 and the Reference Rate for Euro is ` 62.07 on October 22, 2010. The corresponding rates for the previous day (October 21, 2010) were ` 44.36 and ` 61.95 respectively. Based on the Reference Rate for US … Read more »»».

Larsen and Toubro issues long-term infrastructure bonds

KOLKATA – Larsen and Toubro (L and T) Infrastructure Finance Company Limited announced a public issue of long-term infrastructure bonds here on Thursday.

The issue was made under section 80CCF of Income Tax Act, 1961 to resident Indian individuals.

S. Maheshwari, Chief Executive Officer, L and T Infrastructure Bond Finance Company Limited said: “You get an yield … Read the original article on Gaea Times at : Larsen and Toubro issues long-term infrastructure bonds.

Wipro sees higher IT revenue in Q3 on strong growth

BANGALORE – Wipro Limited Friday projected marginally higher revenue of $1.33 billion from its global IT services business for the third quarter (Oct-Dec) of this fiscal (2010-11) on 4.5 percent sequential growth expectation.

We expect revenue from our IT services business to be $1.33 billion in third quarter as against $1.27 billion in second quarter …. Read the original article  : here.

RIM Check to keep tab on BlackBerry’s security deals

TORONTO – With Research In Motion (RIM) facing demands from India and other nations for access to its encrypted data, Toronto-based Citizen Lab Thursday launched a website to monitor BlackBerry data traffic to know its secret security deals – if any – with these countries.

RIM is said to have reached a deal with the …. Source  : RIM Check to keep tab on BlackBerry’s security deals.

Bangladesh wants ‘quota’ in Indian cotton export

DHAKA – Bangladesh will demand a separate quota in India’s export of raw cotton to ensure adequate supply for its garment sector, the prime foreign exchange earner of the country, in view of rising prices.

“We’ll demand a separate quota for raw cotton during the bilateral trade talks with India,” the Daily Star newspaper Friday …. Read the original article  : Bangladesh wants ‘quota’ in Indian cotton export.

Eyeing English readers, best-selling foreign authors head to India

NEW DELHI – Indian readers of contemporary English fiction are reaping a rich harvest as top British and American authors head to India to promote their books. Best-selling names Ken Follet, Peter James and Wilbur Smith are the latest to chart out trips to the country.

India has one of the biggest English language readerships … Read more >>>.

$917 mn finance for Madhya Pradesh power plant

WASHINGTON – The Export-Import Bank of the United States (Ex-Im) has approved a $917 million export finance guarantee to support US exports to the Sasan Power Ltd coal-fired power plant in Madhya Pradesh.

US vendors including Bucyrus International, located in Milwaukee, Wisconsin will sell and export mining and associated equipment to Sasan Power for the …. Original article on Gaea Times at  : $917 mn finance for Madhya Pradesh power plant.

Wipro projects $1.33 bn from IT business in Q3

BANGALORE – Wipro Ltd Friday projected $1.33 billion from its global IT services business in the third quarter (October-December) of fiscal 2010-11.

In a regulatory filing, the IT bellwether said Q3 guidance would be in the range of $1.32-1.34 billion, which is $65 million higher than its projection of $1.25-1.28 billion for the second quarter.
…. Original source  : Wipro projects $1.33 bn from IT business in Q3.

World Bank gives $13 mn for Mizoram roads project

WASHINGTON – The World Bank has approved a credit worth $13 million in additional financing for the Mizoram State Roads Project to continue revitalizing and modernising the state’s highway system.

The project will help improve the management and carrying capacity of the core state road network in order to lower transportation bottlenecks and costs, and … Original article on : World Bank gives $13 mn for Mizoram roads project.

Wipro net up 10 percent in second quarter

BANGALORE – Wipro Ltd Friday posted a net profit of Rs.1,285 crore (Rs.12.85 billion) for second quarter (July-Sep) of this fiscal 2010-11, registering an increase of 10 percent year-on-year (YoY).

In a regulatory filing, the IT bellwether said its total revenue for the quarter under review was Rs.7,731 crore (Rs.77.31 billion), an increase of 12 …. Source  : Wipro net up 10 percent in second quarter.

Record 5.2 million iPhones activated in US

SAN FRANCISCO – A record 5.2 million iPhones were activated in the last quarter by AT&T, which holds exclusive rights to the hit device in the US, the telecom giant has said.

The record-setting sales mark beat the previous record of 3.2 million iPhones that AT&T sold in the prior quarter, when Apple’s iPhone 4 …. Original source  : Record 5.2 million iPhones activated in US.

Money Market Operations as on October 21, 2010

… Read more : Money Market Operations as on October 21, 2010.

American Express profit up 70 percent

NEW YORK – American Express reported a profit boost of 70 percent in its third quarter over the same period last year, saying well-heeled card holders were spending more and paying their bills more often on time.

Net income was $1.09 billion, up from $642 million. Revenues were up 17 percent as tight controls on …. Read the original article  : American Express profit up 70 percent.

Tokyo shares rise on US gains

TOKYO – Tokyo stocks climbed in Friday morning trading, supported by modest overnight gains on Wall Street.

The benchmark Nikkei 225 Stock Average gained 34.23 points, or 0.37 percent, to trade at 9,410.71, while the broader Topix index was up 3.25 points, or 0.4 percent, at 823.65.
The market was cautious ahead of a two-day … Read : Tokyo shares rise on US gains.