Navi Mumbai airport plan tweaked on green concerns

MUMBAI – The Maharashtra government Friday made minor changes in the design of the proposed international airport at Navi Mumbai, keeping in view the objections raised by the environment ministry that had raised concerns about possible loss of mangrove forests.

This was conveyed to the central government appointed 13-member Expert Appraisal Committee (EAC), headed by … Read more »»».

Toyota Recall Announced Again!

AICHI, JAPAN (GaeaTimes.com)- Toyota Motors the eminent Japan based car maker which was known as the manufacturer of some of the most reliable and robust cars in the world is fighting the spate of recalls that started haunting it since the beginning of this year. The earlier recalls involving its flagship hybrid Prius …. Read the original article  : here.

Sensex ends flat, broader markets gain in volatile week (Weekly Market Review)

MUMBAI – The benchmark index for Indian stock markets ended flat in a rather volatile week of trade. Mid-to-smaller valued scrips, however, saw better buys.

The Bombay Stock Exchange’s 30-share sensitive index (Sensex) nudged 0.2 percent or 40.81 points up to end the week at 20,165.86 points.
At the National Stock Exchange (NSE), the 50-share …. Read the original article  : here.

IRDA move will kill variable insurance segment: Industry

CHENNAI – The category of variable insurance products (including universal life products) will be killed if the draft norms issued by the Indian insurance regulator is implemented in its current form, feel industry officials.

The Insurance Regulatory and Development Authority (IRDA) Thursday made two major announcements – issuance of draft on norms governing the variable …. Read the original article  : IRDA move will kill variable insurance segment: Industry.

CWG nips Himachal florists’ fortunes in bud

SHIMLA – The flower business in Himachal Pradesh is bouncing back with the onset of the festive and marriage season after the Commonwealth Games disaster as florists failed to get bulk orders to supply flowers, chiefly roses, carnations and marigolds, as expected.

Moreover, the restrictions imposed by the security agencies in the national capital during … Read more >>.

Snags hit Kolkata Metro again

KOLKATA – Metro services in Kolkata were disrupted yet again following technical snags Saturday, a day after its top boss was shunted out in the wake of a derailment three days ago.

A train failed to roll further due to a technical snag in the signalling panel board at Kavi Nuzrul station, a Metro … Read this article on Gaea Times at : Snags hit Kolkata Metro again.

Runway at world’s first commercial spaceport ready

LONDON – A runway at the world’s first commercial spaceport in New Mexico is complete and space tourists are expected to take flight in 18 months, with British industrialist Richard Branson likely to be among them, says a media report.

The Spaceport America in New Mexico desert is the world’s first facility designed to launch …. Original source  : Runway at world’s first commercial spaceport ready.

Not just match, Goa rains queer pitch for mining too

PANAJI – Rains are not just threatening to disrupt the India-Australia cricket match Sunday. The unprecedented October downpour in Goa, leading to turbulent seas, are also affecting the export of ore, a senior industry official said Friday.

Speaking to IANS, Goa Mineral Ore Exporters Association (GMOEA) executive director S. Sridhar said while it would …. Source  : Not just match, Goa rains queer pitch for mining too.

Breakthrough agreement on IMF reform

KYONGJU – Leading developed and developing nations Saturday agreed to far-reaching reforms of the International Monetary Fund aimed at giving more weight in IMF decision-making to developing countries.

The reforms are meant to reflect the growing power of developing countries such as China and India in the world economy by reapportioning IMF voting rights and … Read : Breakthrough agreement on IMF reform.

US stock indexes mixed in daily trading

NEW YORK – US benchmark indexes were mixed in daily trading Friday, but all three indexes capped their third straight week of gains.

Strong earnings reports through the week, accentuated by better than expected performances by passenger airlines, pushed investor interest, Bloomberg financial news agency reported.
The blue-chip Dow Jones Industrial Average shed 14.01 points …. Read the original article  : US stock indexes mixed in daily trading.

China, UAE discuss ways to boost ties

Beijing, Oct 22 (IANS/WAM) China and the United Arab Emirates Friday discussed ways to bolster bilateral relations in various fields, especially in the areas of energy and investment.

At a meeting with Chinese Vice President Xi Jinping here, UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan hoped his visit to Beijing would further …. Original source  : China, UAE discuss ways to boost ties.

Nuclear bomb shelter put on sale

LONDON – A privately-owned bomb shelter in Britain capable of withstanding a blast 80 times that of the atomic bomb that devastated Hiroshima has been put on sale, a media report said Friday.

A man who feared a Cold War missile strike is selling his 350,000-pound house complete with a nuclear bunker, the Daily Telegraph …. Source article on Gaea Times at  : Nuclear bomb shelter put on sale.

Recovery in IT industry is solid, sustainable: Premji

BANGALORE – Recovery in the IT industry is solid and sustainable, as growth during the last two-three quarters has been exceptional, Wipro chairman Azim Premji asserted Friday.

Recovery in growth has been fairly exceptional, solid and sustainable. It is not a catch-up of the past demand. And lot of spending is discretionary, which again is …. Original source  : Recovery in IT industry is solid, sustainable: Premji.

Air India to pay employees incentive before Diwali

NEW DELHI – National carrier Air India has agreed to pay incentives to its employees before Diwali.

Earlier Air India had postponed the payment of performance linked incentives (PLI) to Nov 14, triggering protests from employees’ unions as the important festival of Diwali falls Nov 5.
The incentives and PIL has been preponed to Nov …. Source article  : Air India to pay employees incentive before Diwali.

Unauthorised interception of communications to be prosecuted

NEW DELHI – The central government Friday said companies and individuals who possess equipment having capabilities of monitoring and surveillance of communication have to file an information to the government within 60 days or they shall be liable for prosecution.

Those who fail to meet the deadline can face imprisonment of up to three … Read more »»».

Wipro admits to performing lower than industry peers (Second Lead)

BANGALORE – India’s third largest IT bellwether Wipro Ltd Friday admitted that its performance during the second quarter (July-Sept) of this fiscal was lower than industry peers TCS and Infosys Technologies sequentially and annually.

“We acknowledge and recognise the growth by the industry. We will rise to the occasion and the challenge by putting our organisation … Read more >>.

Indian tax authorities ask Vodafone to pay over Rs.112 bn

NEW DELHI – Indian tax authorities Friday asked global mobile firm Vodafone to pay over Rs.112 billion (around $2.53 billion) as tax in the 2007 purchase of Hutchinson Whampoa’s mobile business. Vodafone maintained it was not liable to pay and also questioned the calculation of the assessment.

The tax department’s claim of its right to …. Read the original article  : Indian tax authorities ask Vodafone to pay over Rs.112 bn.

Second Liquidity Adjustment Facility : Auction Results

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

Amount  (face value in Rs. crore)                   

Item

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

3 days Repo Auction 
…. Source article on Gaea Times at  : Second Liquidity Adjustment Facility : Auction Results.

182-day Treasury Bills auction : Rs.2,000 crore under regular auction

The Reserve Bank of India has announced the auction of 182-day Government of India Treasury Bills for notified amount of Rs.2,000 crore. The auction will be conducted on October 27, 2010 using "Multiple Price Auction" method. The allocation to the non-competitive bidders will be outside the notified amount at the …. Source article  : 182-day Treasury Bills auction : Rs.2,000 crore under regular auction.

91-day Treasury Bills auction : Rs.4,000 crore under regular auction

The Reserve Bank of India has announced the auction of 91-day Government of India Treasury Bills for notified amount of Rs.4,000 crore. The auction will be conducted on October 27, 2010 using "Multiple Price Auction" method. The allocation to the non-competitive bidders will be outside the notified amount at … Read more »».