Manmohan to launch ‘Little India’ in Malaysia trip

KUALA LUMPUR – Indian Prime Minister Manmohan Singh will address business honchos during his visit to Malaysia later this week and also launch the “Little India” business centre here.

Manmohan Singh’s visit comes after his Malaysian counterpart Najib Tun Razak went to India in January, when they pledged to further boost the 53-year old ties [..] Read the original article: here.

Petronet LNG’s second quarter profit up 8.65 percent

MUMBAI – Petronet LNG Ltd Monday reported an increase of 8.65 percent in its net profit for the second quarter of the current fiscal that stood at Rs.131.12 crore as compared to Rs.120.67 crore in the like period of the corresponding year.

“The company has posted a net profit of Rs.1,311.239 million for the quarter … Original article on : Petronet LNG’s second quarter profit up 8.65 percent.

Head-loaders go on strike across Maharashtra

VASHI – More than one lakh head-loaders across Maharashtra went on an indefinite strike Monday, demanding better wages and housing facilities from the state government.

The strike, if it continues, may lead to rise in fruit and vegetable prices and is expected to hit the farm produce market here where the men load and … Read more »»».

India is an inspiration: Rwandan minister

NEW DELHI – Rwanda, a Commonwealth nation in eastern Africa that is trying to evolve as a nascent democracy, wants the Indian government to get more of its dynamic companies to invest in the continent and is scouting for joint ventures in education, energy, health and other economic sectors.

“The Indian government needs to look … Read : India is an inspiration: Rwandan minister.

Experts to discuss innovative housing techniques

NEW DELHI – Experts from 23 countries will meet here Thursday to discuss innovative building technologies for constructing affordable housing, officials said Monday.

The day-long conference will be inaugurated by Housing and Urban Poverty Alleviation Minister Kumari Selja.
… Read more : Experts to discuss innovative housing techniques.

Arunachal hydro project could lead to flooding: Experts

GOGAMUKH – An expert committee set up by the Assam government to study environmental concerns over construction of mega dams has warned of excessive flooding if the 2,000 MW Lower Subansiri Hydro Power Project in Arunachal Pradesh was allowed to continue with its present structural design.

“We have recommended some remedial measures like flood moderators … Read this article on Gaea Times at : Arunachal hydro project could lead to flooding: Experts.

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 ` 62.33 on October 25, 2010. The corresponding rates for the previous day (October 22, 2010) were ` 44.46 and ` 62.07 respectively. Based on the Reference Rate for US …. Source  : Gaea News Network.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on October 25, 2010 are:

Amount  (face value in ` crore)                     

Item

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

1 day Repo Auction 
…. Source  : Liquidity Adjustment Facility : Auction Results.

India asks Japan to help achieve infrastructure targets

TOKYO – India envisages financial outlays of over $1 trillion in the next Five Year Plan and while much of this would come “from within”, it would welcome support from Japanese companies, Indian Prime Minister Manmohan Singh told Japanese business leaders Monday.

“During India’s next Five Year Plan from 2012 to 2017, we envisage financial …. Original article on Gaea Times at  : India asks Japan to help achieve infrastructure targets.

Sensex up 117 points in morning trade

MUMBAI – A benchmark index of Indian equities Monday was ruling 117 points higher in morning trade.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,199.73 points, was ruling at 20,283.37 points, up 117.51 points or 0.58 percent from its previous close at 20,165.86 points.
At the National Stock … Original source on Gaea Times at : Sensex up 117 points in morning trade.

Tokyo shares down on stronger yen

TOKYO – Tokyo stocks fell in Monday morning trading as a stronger yen weighed on the market after a meeting of the Group of 20 (G20) finance ministers had little impact on currency markets.

The benchmark Nikkei 225 Stock Average lost 26.91 points, or 0.29 percent, to trade at 9,399.8 while the broader Topix index … Original article on : Tokyo shares down on stronger yen.

Question mark over civil nuclear deal with Japan

TOKYO – India will not force the civil nuclear agreement on Japan as it recognises the sensitivities involved, Prime Minister Manmohan Singh said here Monday, putting a question mark on the pact that was being discussed between the two countries for the last few months.

“I recognise the sensitivity of the (nuclear) issue in Japan … Read more : Question mark over civil nuclear deal with Japan.

‘Multinationals seeking to control global farming’

NAGOYA – The world’s largest seed and agrochemical corporations are filing hundreds of sweeping, multi-genome patents by saying they are developing “climate-ready” crops that will grow in a warmer world but they are actually making a bid to control global farming, the international NGO ETC Group charged here Monday.

A handful of multinational corporations are …. Source  : Gaea News Network.

Money Market Operations as on October 22, 2010

…. Source article  : Money Market Operations as on October 22, 2010.

Singapore bourse bids to merge with Australian exchange

SINGAPORE – The Singapore Stock Exchange (SGX) said Monday it has entered a merger agreement with Australian bourse operator Australian Stock Exchange Ltd (ASX), in a move that would create one of the largest stock exchanges in the world.

The proposed deal would have a volume of about $8.3 billion in cash and stock bid, …. Source article on Gaea Times at  : Singapore bourse bids to merge with Australian exchange.

Nokia Siemens Networks, du to upgrade Dubai telecom service

Dubai, Oct 24 (IANS/WAM) The United Arab Emirate’s telecom service provider, du, has signed a deal with Nokia Siemens Networks to comprehensively upgrade its mobile operations across the country, investing AED 400 million ($108 million).

Nokia Siemens Networks will expand du’s 2G network and introduce its 3G HSPA+ network with speeds of up to 42Mb … Read this article on Gaea Times at : Nokia Siemens Networks, du to upgrade Dubai telecom service.

Maharashtra farmers demand higher price for cotton

NAGPUR – Farmers from Vidarbha and Marathwada regions will hold Maharashtra’s first “Kapus Parishad” (Cotton Conclave) here Oct 26 where they will demand higher prices for cotton, an activist said here Sunday.

Organised by NGO Vidarbha Jan Andolan Samiti (VJAS), the conference will seek the government’s intervention in increasing the prices of raw cotton from … Read more >>>.

PM lures Japanese investors to India’s development plans

TOKYO – Prime Minister Manmohan Singh, on a three-day visit to Japan, has pushed for greater Japanese investment in India’s “ambitious development plans”, citing his country’s growing market, its young work force and an evolving policy framework.

“In recent years, the policy framework relating to investment, taxation, foreign trade, finance, capital markets and regulatory systems …. Read the original article  : PM lures Japanese investors to India’s development plans.

PM in Japan to give new edge to ‘old relationship’

TOKYO – Prime Minister Manmohan Singh arrived here on a rain-splattered Sunday evening for a three-day visit to further India’s strategic interests with Japan straddling the twin fronts of economy and diplomacy.

Manmohan Singh, accompanied by his wife Gursharan Kaur, was welcomed at the Haneda International Airport by Japanese Vice Minister for Foreign Affairs Ikuo …. Source article  : PM in Japan to give new edge to ‘old relationship’.

Badal asks PM to relax paddy procurement norms

CHANDIGARH – Punjab Chief Minister Parkash Singh Badal Sunday warned the central government that the state farmers’ resentment might erupt into anger if the quality specifications of paddy were not relaxed during the ongoing procurement process.

“We need to come to the aid of the beleaguered farmer who sweats and toils for the nation. The … Read the original article on Gaea Times at : Badal asks PM to relax paddy procurement norms.

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.

India, Malaysia announce comprehensive economic pact (Second Lead)

PUTRAJAYA – India and Malaysia Wednesday announced the conclusion of negotiations on the Comprehensive Economic Cooperation Agreement (CECA), saying it would take the bilateral engagement to new heights.

Indian Prime Minister Manmohan Singh and his Malaysian counterpart Najib Tun Razak said the agreement will be signed by Jan 31, 2011, and come into force … Original source on Gaea Times at : India, Malaysia announce comprehensive economic pact (Second Lead).

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on October 27, 2010 are :

Amount  (face value in ` crore)                    

Item

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

1 days Repo Auction 
…. Source  : Liquidity Adjustment Facility : Auction Results.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 44.52 and the Reference Rate for Euro is ` 61.47 on October 27, 2010. The corresponding rates for the previous day (October 26, 2010) were ` 44.43 and ` 62.07 respectively. Based on the Reference Rate for …. Source article on Gaea Times at  : RBI Reference Rate for US $ and Euro.

Burundi builds trade bridge with India over pots and pans

NEW DELHI – The little landlocked republic of Burundi in the great lakes region of East Africa is forging an unusual business bridge with India by importing casseroles and cooking pans.

“The price of kitchenware is reasonable in India unlike many developed nations across the world with which the country has business ties,” Burundi’s Ambassador … Read : Burundi builds trade bridge with India over pots and pans.

The sky is the limit for ASEAN-India cooperation (Comment)

Prospects of more Southeast Asians working in India and skilled Indians — techies and teachers, bankers and accountants, engineers and architects — making their presence felt in key sectors in that region have brightened.

The Eighth ASEAN-India Summit taking place in Vietnam Sunday cannot but underscore the need for accelerating the pace of economic cooperation …. Source  : Gaea News Network.

Arunachal mega dam creates political storm in Assam

GUWAHATI – A mega dam being built in Arunachal Pradesh has become a major political issue in Assam, with the opposition making it clear it will use its anti-dam stand as an election plank ahead of next year’s assembly polls.

The row concerns the 2,000 MW Lower Subansiri Hydro Electric Power Project in Arunachal Pradesh … Original article on : Arunachal mega dam creates political storm in Assam.

Obama to meet with US business leaders in India

WASHINGTON – During his India trip, US President Barack Obama will meet top US business leaders, including India-born Pepsico chairperson Indra Nooyi, to “discuss the opportunities and challenges of doing business in India,” according to the White House.

The business delegation meeting Obama will include Honeywell International Inc’s David Cote, Boeing Co’s Jim McNerney, General … Read more »».

India, Malaysia announce comprehensive economic pact

KUALA LUMPUR – India and Malaysia Wednesday announced completion of negotiations on the Comprehensive Economic Cooperation Agreement (CECA), saying it will significantly transform their bilateral engagement.

Indian Prime Minister Manmohan Singh and his Malaysian counterpart Najib Tun Razak said the agreement will be signed by Jan 31, 2011, and come into force July 1.
Razak … Read the original article on Gaea Times at : India, Malaysia announce comprehensive economic pact.

Money Market Operations as on October 26, 2010

… Original source on Gaea Times at : Money Market Operations as on October 26, 2010.

Japan stocks inch up as yen appreciation eases

TOKYO – Japanese stocks rose in early Wednesday trading, buoyed by a halt in the yen’s rise against the US dollar, which in recent weeks had seen its highest levels in 15 years.

The benchmark Nikkei 225 Stock Average gained 64.36 points, or 0.69 percent, to trade at 9,441.74 while the broader Topix index was … Read more »».

BlackBerry stock soars after tablet demo

TORONTO – BlackBerry stock soared more than six percent Tuesday after a demonstration of its just-unveiled PlayBook tablet Monday.

After hovering under $50 for some time, RIM stock rose almost 6.2 percent to close at $56.17 on the Toronto Stock Exchange (TSE) Tuesday.
But the stock is still almost one-third of its peak of $150 … Read : BlackBerry stock soars after tablet demo.

US stocks, consumer confidence edge higher

NEW YORK – Major US stock indices inched higher Tuesday, mirroring a slight rise in the confidence of US consumers.

The New York-based Conference Board’s index of confidence climbed to 50.2 in October from 48.6 in September. The index remains near record lows as unemployment remains high and the economy struggles to pull out of … Read the original article on Gaea Times at : US stocks, consumer confidence edge higher.

China’s Wuhan city wants to invest in Kolkata

KOLKATA – A delegation from China’s Wuhan city Tuesday evinced interest in investing in the New Town area that is being developed near Rajarhat in Kolkata’s north eastern fringes.

“We are interested in developing a manufacturing hub to produce building materials in the New town area,” said Yang Guocheng, deputy secretary General of … Read more >>>.

TCS to do Delhi Jal Board’s billing

NEW DELHI – The Tata Consultancy Services (TCS) will do the billing work for the Delhi Jal Board (DJB) for the next five years, an official said Tuesday.

“The TCS will do the billing work for the DJB for five years and also teach its staff about the process. Also, Delhi Integrated Multi Modal Transit [..] Read the original article: here.

Education reforms must to build talent faster: Murthy

BANGALORE – India needs drastic reforms in the education sector to build a vast talent pool for driving the IT industry growth faster, Infosys Technologies Ltd chairman N.R. Narayana Murthy said Monday.

“We require a reforms programme in the education sector similar to the economic reforms in the nineties that ushered in the liberalization era,” … Read the original article on Gaea Times at : Education reforms must to build talent faster: Murthy.

Delhi celebrates ‘Festive Hong Kong Week’

NEW DELHI – Brightly coloured dcor and a fascinating lion dance performance kicked off the “Festive Hong Kong Week” here Tuesday.

Organised by the Hong Kong Tourism Board (HKTB), the six day consumer fair from Oct 26 will be held at the Select City Walk mall in Saket area of south Delhi. It will showcase …. Original article  : Delhi celebrates ‘Festive Hong Kong Week’.

Tata Housing to invest Rs.1.5 bn in Chennai

CHENNAI – Tata Housing Development Company Ltd, which is making its foray into the Chennai residential market, plans to invest around Rs.1,500 crore, a company official said Tuesday.

The company is also in talks with various state governments to promote affordable housing projects.
“During the current year, we will invest around Rs.1,500 to Rs.2,000 crore,” …. Read the original article  : here.

Tony Blair’s wife flogs his autograph on eBay

LONDON – Tony Blair’s wife Cherie has landed herself into a controversy after she put on sale the former British prime minister’s autograph for 10 pounds on eBay, an auction website, a media report said Tuesday.

Cherie, 56, advertised a signed “bookplate” page which fits copies of Blair’s autobiography “A Journey”, The Sun reported. … Read more »».

No mercy for Bluelines, they will go, says Dikshit

NEW DELHI – Delhi’s Chief Minister Sheila Dikshit made it clear Tuesday that her government was determined to banish Blueline buses from December and blamed the private fleet for its impending fate.

Speaking a day after her government finally decided to do away with a service blamed for hundreds of deaths on the roads, she …. Read the original article  : here.

DDA, Spanish group to cooperate in urban planning

NEW DELHI – The Delhi Development Authority (DDA) Tuesday signed a memorandum of understanding (MoU) with a Spanish group for cooperation in the field of urban planning.

“The MoU was signed between the DDA and Barcelona Strategic Urban Systems of Spain at Raj Bhavan. While Veena Ish represented the DDA, the Spanish body was represented …. Source article  : DDA, Spanish group to cooperate in urban planning.

India’s premier ICT event kicks off in tech hub Bangalore

BANGALORE – India’s premier information and communication technology (ICT) event “Bangalore IT.biz 2010″ got underway in this tech hub Thursday on an upbeat note, with the IT industry returning to the growth path after a year of downturn.

With “Billion-strong Empowered by ICT” as the theme of the conference, the inaugural session of three-day event …. Original article  : India’s premier ICT event kicks off in tech hub Bangalore.

Cigarette butts mean money in Chinese city

BEIJING – A city in China has begun offering money to its residents who pick up discarded cigarette butts as part of a campaign to keep its streets clean. Over seven million cigarette butts have already been collected.

The unique initiative was launched in Xianyang city in Shaanxi province.
Hou Xi’an, an official, said: “We …. Original article on Gaea Times at  : Cigarette butts mean money in Chinese city.

Sensex moves up in afternoon trade

MUMBAI – After remaining range-bound for most part of the morning session, a benchmark index of Indian equities Thursday moved up in afternoon trade. Broader markets were, however, dull on the futures expiry day.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,116.49 points, was ruling at 20,096.78 points, …. Source article  : Sensex moves up in afternoon trade.

New LTE tech to revolutionize wireless experience

TORONTO – The new-generation wireless technology called long-term evolution (LTE) is set to revolutionize wireless experience on smart phones or tablets and other mobile devices.

When networks around the world adopt LTE by 2012, it will boost their speeds and capabilities, leading to high-definition streaming of movies, full-screen video chatting and multi-player gaming as fast …. Original article  : New LTE tech to revolutionize wireless experience.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 44.49 and the Reference Rate for Euro is ` 61.56 on October 28, 2010. The corresponding rates for the previous day (October 27, 2010) were ` 44.52 and ` 61.47 respectively. Based on the Reference Rate for US … Read more »».

Delhi HC lawyer charges Audi India with selling defective Rs.40 lakh car

NEW DELHI – The Indian unit of German car manufacturer Audi is now in the news for the wrong reasons. It has been accused of selling a defective Audi A6 car to a Delhi-based lawyer.

Though Audi India maintains that it has done no wrong and blames the concerned lawyer for damaging the car part in … Read more >>.

India’s annual food inflation falls to 13.75 percent

NEW DELHI – India’s annual food inflation fell to 13.75 percent for the week ended Oct 16, from 15.53 percent in the previous week. This may provide some relief to consumers.

Official data released Thursday showed the annual inflation rate for the primary articles group dipped to 16.62 percent during the week under review, compared … Read : India’s annual food inflation falls to 13.75 percent.

Time to integrate nature into national plans: UN environment chief (Interview)

NAGOYA – Economists have proved that countries are paying a great price by not integrating the values of natural resources into their budgets and plans. Now that techniques to value these resources are well developed, it is time to change national planning, says UN Environment Programme (UNEP) chief Achim Steiner.

On the sidelines of the …. Original article on Gaea Times at  : Time to integrate nature into national plans: UN environment chief (Interview).

India pioneers global plan to green economy

NAGOYA – India will be one of two countries to pioneer “a global partnership that will fundamentally change the way governments value their ecosystems”, World Bank President Robert B. Zoellick announced here Thursday.

“We are here to do something that none has done before,” Zoellick declared at a press conference on the sidelines of the [..] Read the original article: here.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on October 28, 2010 are:

Amount  (face value in ` crore)                         

Item

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

1 days Repo Auction 
… Read more »».

It’s adieu to 1,600 Blueline buses in Delhi

NEW DELHI – With a government notification coming into effect Thursday, 1,600 privately run Blueline buses went off the capital’s roads. While many commuters have welcomed the decision, others are now worried about overcrowded public transport.

Often termed the ‘killer fleet’ for numerous accidents and deaths, the private bus service has been under fire for … Read more >>.

Petrobras finds oil signs during deepwater exploration

Rio de Janeiro, Oct 28 (IANS/EFE) Brazilian state-controlled energy giant Petrobras said signs of oil found at in its first deepwater exploration well in the Sergipe-Alagoas Basin mark the opening of a new “exploratory frontier”.

The Rio de Janeiro-based company said the crude discovered in the Barra well of that basin, located off the coasts … Read : Petrobras finds oil signs during deepwater exploration.

Italy business confidence highest since May 2008

Rome, Oct 28 (IANS/AKI) Italy’s business confidence rose to the highest level since May 2008 as businesses ramped up orders amid increased optimism over the fate of Europe’s fourth-largest economy.

“There is a marked recovery in orders, foreign ones in particular,” Rome-based research centre Isae said Wednesday in a statement. “There is also a slight … Read the original article on Gaea Times at : Italy business confidence highest since May 2008.

Sensex quiet in opening trade

MUMBAI – A benchmark index of Indian equities Thursday was ruling moderately higher in morning trade.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,116.49 points, was ruling at 20,058.22 points, up 52.85 points or 0.26 percent from its previous close at 20,005.37 points.
At the National Stock Exchange … Read this article on Gaea Times at : Sensex quiet in opening trade.

Japan stocks dip on earnings concern

TOKYO – Japanese stocks dipped in early Thursday trading as the dollar weakened against the yen after two days of gains.

The benchmark Nikkei 225 Stock Average lost 5.77 points, or under 0.06 percent, to trade at 9,381.26 while the broader Topix index was down 1.40 points, or 0.17 percent, at 816.36.
On currency markets …. Original article on Gaea Times at  : Japan stocks dip on earnings concern.

US hopes CSC will give American firms level playing field

WASHINGTON – The United States has welcomed the signing by India of an international treaty governing global civil nuclear liability to address a key irritant in the way of implementing the landmark India-US civil nuclear deal.

“This is a very big deal,” Geoffrey Pyatt, State Department Principal Deputy Assistant Secretary for South Asia said Wednesday … Original source on Gaea Times at : US hopes CSC will give American firms level playing field.

Money Market Operations as on October 27, 2010

…. Original article on Gaea Times at  : Money Market Operations as on October 27, 2010.

US stocks fall slightly

NEW YORK – Major US stock indices fell slightly Wednesday amid reports that the Federal Reserve was planning a gradual monetary intervention to prop up the world’s largest economy.

The Wall Street Journal reported that the central bank will announce after its rate-setting meeting next week a plan to buy a few hundreds of billions … Read : US stocks fall slightly.

Visa profits rise 51 percent as consumers spend more

SAN FRANCISCO – Visa Inc, the world’s largest consumer payments network, Wednesday reported a 51-percent rise in fourth-quarter profits compared to the same period last year.

The rebound was an indication that the worst of the economic crisis might be over, as people swiped their plastic more often than in the troubled year before.
Visa …. Source  : Gaea News Network.

US firms to sign large contracts on Obama’s India visit

WASHINGTON – US companies hope to consummate some large contracts during President Barack Obama’s trip to India in early November, according to a top aide.

There are “a number of large contracts” between American and Indian companies, and “we hope to consummate some of these deals,” National security aide Mike Froman said Wednesday at a …. Original source  : US firms to sign large contracts on Obama’s India visit.

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.

Money Market Operations as on October 28, 2010

[..] Read the original article: here.

New Zealand to host Indian spice festival

AUCKLAND – The aroma of Indian spices will swirl around this New Zealand city as the first ever Indian spice festival kicks off here Sunday.

The five-day festival is being organised by the Spices Board India in collaboration with the Indian High Commission and the Stamford Plaza hotel.
Hundreds of spice traders, importers and exporters …. Read the original article  : New Zealand to host Indian spice festival.

Milkfed Punjab yet to recover its Gulf exports

CHANDIGARH – Milkfed Punjab is still coping with the financial jolt it suffered following recession as exports of its desi ghee, which had declined sharply, are yet to recover fully.

“Financial meltdown had badly affected our desi ghee exports to foreign countries. Before the meltdown (in 2008), we were exporting 100 tonnes of ghee (every …. Source article on Gaea Times at  : Milkfed Punjab yet to recover its Gulf exports.

British Airways makes 158 mn pound profit

LONDON – British Airways, which had been badly hit by employee strikes and the economic recession, has “flown back” into profit. The airline made 158 million pounds in profit in 2010.

Though an increasing number of business customers led to the profit, British Airways chief Willie Walsh said the whole economic recovery could be threatened … Read more : British Airways makes 158 mn pound profit.

Special Liquidity Adjustment Facility 2 Day Repo Auction: Results

The results of the RBI Repo/Reverse Repo auctions held on October 30, 2010 are:

Amount (face value in Rs. crore)                                      

Item

2 days Repo Auction
(Purchase of securities by RBI)

6.00% Fixed Rate

1. Bids received …. Source article  : Special Liquidity Adjustment Facility 2 Day Repo Auction: Results.

Native-born Americans lost jobs, but Asians, Indians did not

WASHINGTON – With the exception of Asian Americans, native-born Americans lost more than a million jobs while foreign-born workers gained hundreds of thousands of jobs as the country emerged from a painful recession, according to a new report.

In April, May and June this year, compared with the same period last year, foreign-born workers gained …. Read the original article  : Native-born Americans lost jobs, but Asians, Indians did not.

Over 4.5 mn jobless in Spain

Madrid, Oct 30 (IANS/EFE) Spain has over 4.5 million unemployed people, said a survey that attributed joblessness to the collapse of the country’s real-estate sector during the recession.

According to a survey released by the National Statistics Institute, a total of 4.57 million people were unemployed between July and September and the jobless rate was [..] Read the original article: here.

iPhone outsells BlackBerry globally

TORONTO – Within a week after Apple boss Steve Jobs declared victory over BlackBerry maker Research In Motion (RIM), new numbers released Friday have confirmed that the iPhone has indeed surpassed BlackBerry smart phone in worldwide sales.

According to the data for the third quarter of 2010, the iPhone has dethroned BlackBerry from the fourth … Read : iPhone outsells BlackBerry globally.

Clark and Kent launches Asia coverage for global clients

Mumbai, Oct.30 (ANI-Business Wire India): Clark and Kent, a highly specialized executive search and selection company, is helping its international clients acquire C-level talent in emerging markets, especially in Asia.

It is looking to expand the horizons of North American companies in the Asian and African markets.

The firm bridges the gap between the … Original source on Gaea Times at : Clark and Kent launches Asia coverage for global clients.

Wipro secures major IT services contract with Electricity North West Limited

Bangalore, Oct.30 (ANI-Business Wire India): Wipro Technologies, the global consulting,system integration and outsourcing business of Wipro Limited, has announced that it has entered into a five-year strategic partnership with Electricity North West Limited to deliver end to end service transition and transformational services to maintain their IT systems through a managed service framework.

This collaboration …. Source article on Gaea Times at  : Wipro secures major IT services contract with Electricity North West Limited.

YouTube CEO steps down

SAN FRANCISCO – The co-founder of video website YouTube is stepping down as CEO. The move leaves the Google-owned property in the hands of a veteran manager as it attempts to increase its mainstream offerings and boost its profitability.

Chad Hurley, 33, founded the video-sharing site with Steve Chen in 2005 and sold it to …. Source article  : YouTube CEO steps down.

US stocks flat after GDP growth report

NEW YORK – US stocks were flat with minor fluctuations Friday despite a slight improvement of US economic growth to 2 percent for the third quarter.

The new figures, which come just days before US congressional elections, matched expectations by economists but are unlikely to be enough to curb the US unemployment rate, which has … Read more »».

US economic experts bat for UNSC seat for India

WASHINGTON – As President Barack Obama travels to India next week, two leading economists have strongly backed India’s case for a permanent seat of the UN Security Council and stronger trade relations.

Obama’s “goal is to strengthen India-US cooperation, but standing between the recent heady past and a future full of promise is a highly …. Original source  : US economic experts bat for UNSC seat for India.

Court allows Bluelines in south Delhi, government firm on phase-out

NEW DELHI – The Delhi government Friday said it was not keen on bringing back the ‘killer’ Blueline buses on roads, after the high court ruled that the notification for complete phase-out of these buses by Dec 14 from the capital’s roads will not apply to the buses plying in south Delhi.

“We will … Read more >>.

Delhi now to phase out over 300 RTVs

NEW DELHI – After the ‘killer’ Blueline buses, the Delhi government now wants to phase out more than 300 “dangerous” RTVs – rural transport vehicles – from the city roads.

“The RTVs are dangerous vehicles. There are over 300 RTVs in the capital and we are planning to replace these with mini-buses,” Transport Minister … Read : Delhi now to phase out over 300 RTVs.

US economy grew two percent in third quarter

WASHINGTON – The US economy improved slightly in the third quarter of this year, growing at an annual growth rate of two percent, according to an initial estimate by the Commerce Deparment Friday.

The world’s largest economy grew 1.7 percent in the second quarter of 2010 as it continues to struggle to pull out of …. Original article  : US economy grew two percent in third quarter.

Wipro wins IT deal from British energy firm

BANGALORE – Wipros global IT services division won a five-year contract to provide end-to-end services to British power firm Electricity North West, the company said Friday.

“The strategic partnership envisages delivery of transformational services to maintain North Wests IT systems through a managed service framework,” Wipro energy and utilities vice-president Anand Padmanabhan said in a … Read the original article on Gaea Times at : Wipro wins IT deal from British energy firm.

Tata Indicom launches Blackberry Bold 9650 for CDMA users

NEW DELHI – Tata Indicom, the CDMA arm of telecom service provider Tata Teleservices, Friday launched Blackberry Bold 9650, the first combined CDMA-GSM smartphone.

The smartphone offers global roaming, an optical trackpad and enhanced wi-fi and GPS capabilities.
Customers purchasing the handset in October will be given a special data usage offer. … Original source on Gaea Times at : Tata Indicom launches Blackberry Bold 9650 for CDMA users.

India can help create jobs in US: Pitroda

NEW DELHI – National Knowledge Commission Chairman Sam Pitroda said Friday India can help create jobs in the US by providing alternative training.

Everyone’s focus in US is on job creation. To create jobs you need to provide alternative training to the people. I think India can help US in retraining people, Pitroda told [..] Read the original article: here.

Book by PM’s economic advisor wins award

NEW DELHI – “Fault Lines: How Hidden Fractures Still Threaten the World Economy, by Raghuraman Rajan, an economic advisor to Indian Prime Minister Manmohan Singh, won the Financial Times and the Goldman Sachs Business Book of the Year Award 2010.

Carrying a cash award of 30,000 pounds, the award was given at a function in …. Source article on Gaea Times at  : Book by PM’s economic advisor wins award.

Finance ministry hopeful of breaking GST deadlock

NEW DELHI – The finance ministry is hopeful of building a consensus on the goods and service tax (GST) as the Empowered Committee of State Finance Ministers met in Goa Friday to give their feedback to the latest draft proposal on tax reform.

“The empowered committee is meeting today. I am hopeful there will be … Read : Finance ministry hopeful of breaking GST deadlock.

Obama will have to dine Indian style at Bukhara

NEW DELHI – What is that Indian gastronomic delight that will tickle the taste buds of the world’s most powerful man? The chefs of Bukhara restaurant here are tightlipped as they cook up a dish to be named after US President Barack Obama – but it sure promises to be ‘finger-licking’ good.

Obama, who …. Original article  : Obama will have to dine Indian style at Bukhara.

Milkmen back in New Zealand after two decades

AUCKLAND – Milkmen will be seen once again in New Zealand after fading away from the scene for the past two decades.

A new service launched by the Trusty Delivery Company will deliver milk and other goods to almost 1,200 Auckland customers, in a bid to compete with supermarkets, the New Zealand Herald reported Sunday.
… Original article on : Milkmen back in New Zealand after two decades.

Kingfisher flight to Taj city from Sunday

AGRA – Kingfisher airlines is launching its Delhi-Agra flight from Sunday, in a move bound to be welcomed by tourists who want to visit the majestic 17th century Taj Mahal.

Although a chartered flight Saturday brought 140 guests to Agra, the regular flight begins Sunday afternoon.
Flight 4367, a 66-seater ATR plane, will …. Source article on Gaea Times at  : Kingfisher flight to Taj city from Sunday.

Dhaka could reap $2.3 bn from transit facilities to India, others

DHAKA – Bangladesh could reap a profit of $2.3 billion in a period of 30 years by giving transit facilities to India, Nepal and Bhutan, a think tank has said.

To earn that profit, Bangladesh would, however, have to invest $1.17 billion in capital expenditure, operation and maintenance costs for over 30 years to develop … Read more »»».

Larsen and Toubro planning Rs.2,000-crore PE fund

CHENNAI – Engineering and construction group Larsen and Toubro (L&T) is planning to launch a Rs.500-2,000-crore private equity fund as part of a strategy to become a financial supermarket.

“We are in the process of putting the pieces. We have to synergise on the skills that the group currently possess. We will start with a …. Source  : Larsen and Toubro planning Rs.2,000-crore PE fund.

Indian insurance industry to have stable profitable growth

NEW DELHI – The Indian life insurance industry is at the threshold of having a stable profitable growth, says a study.

“The insurance companies are poised for a quantum leap in performance with unprecedented growth opportunities, notwithstanding a temporary sliding growth curve,” says a study by the Confederation of Indian Industry (CII) and Ernst and … Read : Indian insurance industry to have stable profitable growth.

Hundreds protest Vedanta refinery in Orissa

BHUBANESWAR – Hundreds of tribals Saturday staged a demonstration in Orissa’s Kalahandi district seeking scrapping of Vedanta Resources’s alumina refinery in the region, a protest leader said.

“The tribal men and women, armed with their traditional weapons, marched near Lanjigarh town shouting slogans against the company,” Lingaraj Azad, a leader of Niyamgiri Surakhya Samittee (forum … Original source on Gaea Times at : Hundreds protest Vedanta refinery in Orissa.

Mamata blames Bengal administration for illegal mining

KOLKATA – Railways Minister Mamata Banerjee Saturday blamed the state administration for rampant illegal mining in West Bengal’s Burdwan district, saying its failure to set up industries has aggravated the problem.

“Industries have not prospered in Kulti, Asansol and other areas in the district. That’s why illegal mining industry is gaining mileage in this area.
… Original article on : Mamata blames Bengal administration for illegal mining.

India keen to invest more in Sudan’s oil sector

NEW DELHI – India Saturday expressed keenness to invest in the oil sector of the north african state of Sudan and the latter offered to increase the supply of its crude to New Delhi during bilateral discussions here.

At a meeting of the Indian Petroleum Minister Murli Deora and the visiting Sudanese Petroleum Minister Lual …. Source  : Gaea News Network.

Not a single Railways job created in Bengal: Buddhadeb

KOLKATA – West Bengal Chief Minister Buddhadeb Bhattacharjee Saturday claimed that Railway Minister Mamata Banerjee has failed to provide “a single job” in her department to the state, and accused her of lying about the recent Kolkata Metro snags.

“She has been the railway minister for more than a year. I just want to ask …. Source  : Not a single Railways job created in Bengal: Buddhadeb.

NALCO profit up at Rs.224 crore in Q2

BHUBANESWAR – The state-run National Aluminium Company Limited (NALCO)’s net profit for the second quarter soared 40 percent at Rs.224 crore, the company said Saturday.

According to the reviewed financial results for the second quarter of the financial year 2010-11, NALCO has achieved higher net profit of Rs.224.04 crore, as against Rs.159.50 crore in …. Original source  : NALCO profit up at Rs.224 crore in Q2.

Punjab farmers end rail blockade, protests to continue

CHANDIGARH – Farmers in Punjab ended their rail blockade Saturday afternoon after thousands of passengers were stranded, but said protests against slow procurement of paddy by central and state government agencies will continue.

Although our demands have not been met by the government, we have decided to lift the blockade from the railway lines, for …. Original article on Gaea Times at  : Punjab farmers end rail blockade, protests to continue.

Railways, NTPC to ink pact on power plant

NEW DELHI – The railway ministry would Sunday ink a pact with the NTPC for building a captive power plant for itself at Adra in West Bengal.

The power plant will have a capacity of 1,320 MW (2 units of 660 MW each) and employ environment-friendly super critical technology, said a railway ministry statement Saturday.
… Read : Railways, NTPC to ink pact on power plant.

Delhi Metro extends corridor in Dwarka

NEW DELHI – The Delhi Metro Saturday added another 2.76 km to its network by extending train services to Dwarka sector 21, an official said.

According to a Delhi Metro spokesperson, the Metro services were so far available from Noida/Anand Vihar to Dwarka sector 9. The new section constitutes two stations – Dwarka sector 8 …. Source  : Gaea News Network.

‘CPI-M delayed Smart City project’

THIRUVANANTHAPURAM – Former Kerala industries minister P.K. Kunhalikutty, the brain behind the Rs.1,500-crore Smart City project, Saturday blamed the Communist Party of India-Marxist (CPI-M) for delaying the IT township project at Kochi.

“They (CPI-M) did not have a clue that the basic premise of getting IT entrepreneurs into a state is through building infrastructure. They …. Original article on Gaea Times at  : ‘CPI-M delayed Smart City project’.

Manmohan Singh concludes three-nation visit

HANOI – Prime Minister Manmohan Singh left here for home Saturday, ending a three-nation Asian tour of Japan, Malaysia and Vietnam during which he met with some top leaders from the region and concluded talks for major economic pacts with two countries.

During the visit, Manmohan Singh held bilateral talks with Malaysian Prime Minister Najib … Read this article on Gaea Times at : Manmohan Singh concludes three-nation visit.

Volatile supply from India may hit Bangladesh potato price

DHAKA – A “volatile” supply from India and a bad crop this year may lead to an increase in potato prices in Bangladesh ahead of the season approaching Bakr Eid, a media report said.

Prospects of a bad crop have sent the prices soaring by 50 percent in the last one week alone. But in …. Source  : Volatile supply from India may hit Bangladesh potato price.

Micro finance has great potential, says SBI chief

NEW DELHI – Regulators should take steps to sort out the controversies surrounding micro finance institutions (MFI), as they play an important role in economic growth, State Bank of India (SBI) Chairman O.P. Bhatt said Saturday.

Controversies associated with MFIs should be sorted out. These institutions have immense potential. They have already lent Rs.20,000 … Original article on : Micro finance has great potential, says SBI chief.

Hong Kong woos India Inc, keen on IT firms

NEW DELHI – Hong Kong is optimistic about economic ties with India, and expects more Indian companies, particularly information technology (IT) firms, to set up shop there, the city’s investment agency said.

“We are very optimistic about the future of investment and business relationship between India and Hong Kong. Presently there are leading Indian banks, … Read more »».

Reliance Industries Q2 net profit rises 28 percent

NEW DELHI – Reliance Industries Saturday reported a 28 percent rise in net profit for the second quarter ended Sep 30 at Rs.4,923 crore as against Rs.3,852 crore earned during the like period of the last fiscal.
The total income during the July-September quarter increased 22.5 percent to Rs.58,151 crore from Rs.47,476 …. Source  : Gaea News Network.