RSSBusiness News – Newsletter for October 29, 2010
Friday, October 29, 2010
International shoe fair in Agra
AGRA – An internationational shoe fair opens here saturday in which a large number of finished leather suppliers, component manufacturers, machinery and equipment suppliers, accessories, chemicals, packaging organisations would take part.
The Agra Footwear Manufacturers and Exporters Chamber (AFMEC) hopes to do business of Rs.600 crore during the two-day fair, according to its president, Pooran …. Source : International shoe fair in Agra.
Nearly 5 lakh tonnes of pulses imported for distribution
NEW DELHI – Various state enterprises have inked deals to import 4.84 lakh tonnes of pulses this fiscal, the ministry of consumers affairs, food and public distribution system said Friday.
“Of the total contracted quantity, 3.19 lakh tonnes of pulses have already arrived, while 1.68 lakh tonnes have been disposed from the stocks with these … Original article on : Nearly 5 lakh tonnes of pulses imported for distribution.
RBI announces Liquidity Easing Measures
The liquidity adjustment facility (LAF) window of the Reserve Bank has been in the deficit mode in the recent period. In order to provide liquidity comfort arising out of frictional liquidity pressure, the Reserve Bank has today announced the following temporary measures:
A special second LAF (SLAF) will be conducted on two …. Original source : RBI announces Liquidity Easing Measures.
Wen to visit Delhi this year as India, China strive for harmony (Roundup)
HANOI – China reached out to India Friday amid continuing undercurrents of tension, with Premier Wen Jiabao telling Prime Minister Manmohan Singh at the outset of their much-awaited meeting that he would like to visit Delhi this year and the Indian leader responding he was “very glad”.
“You have on many occasions issued an invitation …. Source article on Gaea Times at : Wen to visit Delhi this year as India, China strive for harmony (Roundup).
BHEL Q2 net profit rises 33 percent
MUMBAI – State-owned Bharat Heavy Electricals (BHEL) reported a 33 percent rise in net profit for the second quarter ended Sep 30 at Rs.1,142.28 crore as against Rs.857.88 crore earned during the like period of last fiscal.
The total income during the July-September quarter increased 25.7 percent to Rs.8,328.41 crore from Rs.6,625.21 crore during …. Source article : BHEL Q2 net profit rises 33 percent.
RBI Reference Rate for US $ and Euro
The Reserve Bank of India’s Reference Rate for the US dollar is ` 44.54 and the Reference Rate for Euro is ` 61.81 on October 29, 2010. The corresponding rates for the previous day (October 28, 2010) were ` 44.49 and ` 61.56 respectively. Based on the Reference Rate for … Read more »»».
Pakistan population now 184 mn
ISLAMABAD – The population of Pakistan has gone up to 184 million this year from 119 million in 1990, a report said.
The latest report of the State Bank of Pakistan said the countrys population has increased to 184 million this year with an annual growth rate of more than two percent.
Pakistan makes up …. Read the original article : Pakistan population now 184 mn.
Liquidity Adjustment Facility : Auction Results
The results of the RBI Repo/Reverse Repo auctions held on October 29, 2010 are:
Amount (face value in ` crore)
Item
3 days Reverse Repo Auction (Sale of securities by RBI)
3 days Repo Auction
(Purchase of …. Original source : Liquidity Adjustment Facility : Auction Results.
Snag hits Delhi Metro’s Dwarka-Noida service
NEW DELHI – Thousands of commuters Friday had a harrowing time on Delhi Metro’s Dwarka-Noida route due a technical snag in the computerised signalling system.
Trains on the Dwarka-Noida/Anand Vihar routes were running late by 30-40 minutes following the snag.
“The problem started around 9 a.m. due to loss of train identification numbers …. Source article : Snag hits Delhi Metro’s Dwarka-Noida service.
Over a third of Pakistani locomotives don’t work
ISLAMABAD – Pakistan has only 520 locomotives as compared to India’s 8,300 — and some 220 of the country’s locomotives are out of order, said a minister.
Pakistan Railways Federal Minister Ghulam Ahmad Bilour said his ministry can’t give any deadline for overhauling the non-functioning locomotives without the government providing financial assistance, the News International …. Original article on Gaea Times at : Over a third of Pakistani locomotives don’t work.
Kolkata Metro services hit again
KOLKATA – Kolkata Metro services, which have faced a series of disruptions this month, were hit again Friday morning after a train developed a technical snag at a station.
“The Kavi Subhas-bound train, which started from Dum Dum station, reached Belgachia station and got stranded due to a technical snag,” Metro Railway chief spokesperson Pratyush …. Original source : Kolkata Metro services hit again.
India, China to play key role on global issues: US
WASHINGTON – The US believes that given their rise as global powers, India and China are going to play a fundamental role on issues like Iran, non-proliferation, terrorism and nuclear security.
Besides the broader Asia context that includes relations with China and India,” the US also sees direct engagement with the 10 ASEAN countries on … Read more >>.
Over 200 top chief executives coming with Obama
WASHINGTON – With trade high on his agenda, some 200 odd top US business chiefs, including soft drink giant Pepsico’s India-born CEO Indra Nooyi, are expected to join US President Barack Obama on his India visit next month.
Also expected are Honeywell CEO David M. Cote, who co-chairs the India-US CEO Forum with Tata group … Read more >>.
Choppy trading continues in Indian stock markets
NEW DELHI – Indian equities opened slightly higher Friday but soon entered a session of choppy trading on the first day of the new series of futures and options, pulling down a key index.
The benchmark sensitive index (Sensex) of the Bombay Stock Exchange (BSE) began the day at 19,986.32 points, as against the …. Read the original article : here.
Italy’s central bank head gives bleak view of growth
Rome, Oct 29 (IANS/AKI) The head of Italy’s central bank Thursday warned that his country’s rebound from the worst recession in more than six decades should continue to be slow through at least next year as the outlook for increased foreign demand for Italian goods worsens.
“The prospects of GDP (gross domestic product) growth for …. Original article : Italy’s central bank head gives bleak view of growth.
Microsoft’s billions count for little in post-PC world
SAN FRANCISCO – Microsoft reported record first-quarter sales Thursday of more than $16 billion and notched up a not-too-shabby $5.4 billion in net profit.
Not bad for a company that has been widely written off as a creaking dinosaur, destined to go the way of T-Rex in the face of competition from Google, Apple, Facebook …. Original source : Microsoft’s billions count for little in post-PC world.
US stocks mixed amid drop in jobless claims, more Fed speculation
NEW YORK – US stocks posted mixed results Thursday as new weekly claims for jobless benefits fell and the Federal Reserve took more steps toward another monetary policy intervention next week.
Weekly jobless claims fell to their lowest level in three months. Bloomberg News reported that the US central bank has asked investors and bond …. Read the original article : US stocks mixed amid drop in jobless claims, more Fed speculation.
Indian equities open higher after volatile Thursday
NEW DELHI – Indian equities opened higher Friday with the benchmark sensitive index (Sensex) of the Bombay Stock Exchange (BSE) ruling with a gain of 45.28 points, or 0.23 percent, over the previous close.
The 30-share index opened at 19,986.32 points, as against the previous close at 19,941.04, and continued to … Read more »».
Japan stocks fall as yen resumes rise against dollar
TOKYO – Shares in Tokyo fell in early Friday trading as the yen resumed its rise against the dollar, and some companies reported disappointing figures.
The benchmark Nikkei 225 Stock Average lost 159.42 points, or 1.7 percent, to trade at 9206.61 while the broader Topix index was down 9.11 points, or 1.12 percent, at …. Source : Gaea News Network.