Metro starts trial runs up to Badarpur

NEW DELHI – Delhi Metro Tuesday began trial runs between Sarita Vihar and Badarpur in south Delhi, paving the way for the entire Central Secretariat-Badrapur corridor to become operational next month.

At present, Metro services on the corridor are available between Central Secretariat and Sarita Vihar.
A Delhi Metro official said the trial runs … Original source on Gaea Times at : Metro starts trial runs up to Badarpur.

Reliance launches SMS conference calls

MUMBAI – Telecom service provider Reliance Communications Tuesday launched SMS based voice conference calls as an extension to its product Group Talk, a handset independent mobile conferencing service.

This service will be made available to all Reliance Mobile GSM and CDMA subscribers using any handset through the ‘SMS based mobile conferencing’ solution from US-based … Read : Reliance launches SMS conference calls.

India will grow 8.75 percent now, 9 percent soon: Mukherjee

NEW DELHI – With clear signals of an all-round upturn, thanks to the fiscal stimulus measures since December 2008, the Indian economy will grow at 8.25-8.75 percent this fiscal, speeding to 9 percent soon, Finance Minister Pranab Mukherjee said Tuesday.

“The recovery is also broad-based across industry, services and agriculture,” Mukherjee said, inaugurating the annual … Read more >>>.

Iran injects fuel into nuclear reactor

TEHRAN – The delayed loading of fuel into the core of Iran’s first nuclear power plant took place Tuesday in the southern port city of Bushehr, the Fars news agency said.

A total of 163 fuel rods are gradually to be injected into the Russian-built, 1,000-megawatt reactor, Fars said.
The power plant’s construction has been … Read more >>.

Pranab Mukherjee assures Indian economy will grow at 8.25-8.75 percent in current fiscal

NEW DELHI – Finance Minister Pranab Mukherjee on Tuesday said the economy will grow by 8.25-8.75 percent in the current fiscal and will return to an average growth rate of nine percent soon, but food prices continue to drive inflation.

Mukherjee said that economic growth would exceed nine percent in the near future stating that …. Source article on Gaea Times at  : Pranab Mukherjee assures Indian economy will grow at 8.25-8.75 percent in current fiscal.

Indigo plantation may resume in Pakistan after a century

ISLAMABAD – A project has been initiated by a local organisation in Pakistan’s Sindh province for the revival of indigo cultivation that was abandoned in the region almost 100 years back, a media report said.

A seminar was held in this regard by Goth Sudhar Sangat, a community-based organisation of Haji Khan Keerio village, in …. Source  : Gaea News Network.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 44.43 and the Reference Rate for Euro is ` 62.07 on October 26, 2010. The corresponding rates for the previous day (October 25, 2010) were ` 44.36 and ` 62.33 respectively. Based on the Reference Rate for … Original article on : RBI Reference Rate for US $ and Euro.

SEBI sets disclosure terms for life insurance companies

MUMBAI – The Securities and Exchange Board of India (SEBI) has spelt out disclosure norms for the life insurance companies if they sell shares to the public through Initial Public Offer (IPO).

Board approved the recommendations for disclosure by insurance companies made by the SEBI Committee on Disclosures and Accounting Standards (SCODA).

“The question of public issues … Read more : SEBI sets disclosure terms for life insurance companies.

Curfew in Srinagar areas to prevent protests

SRINAGAR – Curfew was imposed in Old City areas in this summer capital of Jammu and Kashmir Tuesday following a call for protests and shutdown by separatists, police said.

Curfew has been imposed in five police station areas to maintain law and order,” a senior police official said.
The hardline faction of the separatist Hurriyat …. Original article on Gaea Times at  : Curfew in Srinagar areas to prevent protests.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on October 26, 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.

Indian economy will grow 8.25-8.75 percent: Mukherjee

NEW DELHI – The Indian economy is witnessing clear signals of an all-round recovery thanks to the fiscal stimulus measures since December 2008, and the country will grow at 8.25-8.75 percent this fiscal, Finance Minister Pranab Mukherjee said Tuesday.

“The recovery is also broad-based across industry, services and agriculture,” Mukherjee said, inaugurating the annual Economic … Read this article on Gaea Times at : Indian economy will grow 8.25-8.75 percent: Mukherjee.

India’s ‘Look East’ policy has strategic goals (Comment)

Prime Minister Manmohan Singh’s three-nation visit to Japan, Malaysia and Vietnam marks a reassertion of India’s resolve to pursue its “Look East Policy” to achieve its strategic, geo-political and economic goals.

The signing of a commitment to expand trade with Malaysia next week, a number of pacts with Vietnam and an understanding with Japan on …. Original article  : India’s ‘Look East’ policy has strategic goals (Comment).

China to set up store chain in rural areas

BEIJING – China plans to establish a major store chain in rural areas across the country, a media report said Tuesday.

It is expected to help promote the government’s five-year strategy to boost consumption, China Daily reported.
“By the end of the 12th Five-Year Plan all the counties and 90 percent of the administrative villages … Read more : China to set up store chain in rural areas.

Sensex ruling flat in early trade

MUMBAI – A benchmark index of Indian equities Tuesday was ruling flat in morning trade.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,325.44 points, was ruling at 20,312.07 points, up 8.95 points or 0.04 percent from its previous close at 20,303.12 points.
At the National Stock Exchange (NSE), …. Original source  : Sensex ruling flat in early trade.

Fiat CEO’s anti-Italy comments spark outrage

Rome, Oct 26 (IANS/AKI) Fiat chief executive Sergio Marchionne’s remarks that the car maker would be better off without Italy provoked outrage from labour and government leaders.

During an interview on RAI state television on a popular Sunday-evening talk show, Marchionne blamed rigid unions and labour law for its money-losing Italian operation.
“We still have …. Source  : Gaea News Network.

Money Market Operations as on October 25, 2010

… Read : Money Market Operations as on October 25, 2010.

Tokyo shares edge down on stronger yen

TOKYO – Tokyo stocks inched lower in Tuesday morning trading as export-oriented issues were hurt by the yen’s appreciation.

The benchmark Nikkei 225 Stock Average lost 17.76 points, or 0.19 percent, to trade at 9,383.4 while the broader Topix index was down 2.2 points, or 0.27 percent, at 819.03.
Japanese Prime Minister Naoto Kan’s cabinet …. Read the original article  : Tokyo shares edge down on stronger yen.

Japan’s cabinet approves 5.09-trillion-yen stimulus package

TOKYO – Japanese Prime Minister Naoto Kan’s cabinet approved a 5.09-trillion-yen ($62.9 billion) stimulus package Tuesday to address the yen’s rise and counter deflation.

The government aims to spur domestic demand, improve the business environment and revitalise regional economies with the package, which includes public works projects.
The government must still gain approval from parliament … Read more >>.

US hotel rates to rise next year

NEW YORK – Hotel rates in the US are expected to increase by an average of 10 percent next year, a media report said.

Air fares are also likely to increase, but rental-car fares would stay the same because of heavy competition and a huge inventory of such cars, Xinhua reported citing the Los Angeles …. Original article  : US hotel rates to rise next year.

US stocks rise across board on G20 pledge

NEW YORK – The three US benchmark stock indexes rose Monday, buoyed by agreement among the Group of 20 nations in South Korea to prevent a currency war and stronger home sales.

The gathering of G20 finance ministers and central bank chiefs in Kyongju, South Korea, over the weekend produced a call to move towards [..] Read the original article: here.