Business News – Newsletter for November 12, 2010

Despite divisions, G20 leaders agree to cooperate (Second Lead)

SEOUL – The Group of 20 summit in Seoul ended Friday with a joint statement that papered over many key differences but showed that leaders were at least willing to help each other navigate through difficult economic times.

“We have produced specific and tangible results,” South Korean President Lee Myung Bak said at the close … Read more »»».

Manmohan leaves Seoul after attending G20 summit

SEOUL – Indian Prime Minister Manmohan Singh left the South Korean capital Seoul Friday after attending the G20 summit where he called for a new global rebalance.

Manmohan Singh said funds from surplus nations can go to bridging the infrastructure gap in poor and emerging economies to avoid destabilisation.
He also warned against protectionism in … Read : Manmohan leaves Seoul after attending G20 summit.

Manmohan Singh leaves Seoul after G20 Summit

SEOUL – Indian Prime Minister Manmohan Singh left this South Korean capital Friday after attending the G20 Summit.

Manmohan Singh, who landed here Nov 10, placed a grand proposal before the G20, calling for a new global rebalance in which funds from surplus nations can go to bridging the infrastructure gap in poor and emerging … Read the original article on Gaea Times at : Manmohan Singh leaves Seoul after G20 Summit.

Pakistani cities start bus service for women

ISLAMABAD – A bus service exclusively for women has been launched in Pakistan’s twin cities of Rawalpindi and Islamabad. The buses sport stickers that say: “Decent public transport for women.”

The bus service was inaugurated at the Traffic Headquarters at Race Course in Rawalpindi Thursday. The drivers have been provided special caps and nameplates.
…. Original article  : Pakistani cities start bus service for women.

Discourage sale of BMWs, Audis, says Jairam

NEW DELHI – Environment and Forests Minister Jairam Ramesh Friday called for corrections in the fiscal policy to discourage luxurious cars like BMW and Audi in the country as they were a major source of greenhouse gases.

Speaking at a workshop on ‘Promoting Low Carbon Transport in India’ here, Ramesh said there was no need …. Original article on Gaea Times at  : Discourage sale of BMWs, Audis, says Jairam.

Sensex down 289 points in afternoon

MUMBAI – A benchmark index of Indian equities Friday was trading 289 points lower with realty and metal stocks in the red. The dull cues from Asian markets also pulled down sentiments.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,529.74 points, was ruling at 20,299.90 points – down … Read the original article on Gaea Times at : Sensex down 289 points in afternoon.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 44.64 and the Reference Rate for Euro is ` 60.73 on November 12, 2010. The corresponding rates for the previous day (November 11, 2010) were ` 44.25 and ` 60.96 respectively. Based on the Reference Rate for … Read : RBI Reference Rate for US $ and Euro.

India’s industrial output grew 4.4 percent in September

NEW DELHI – India’s industrial production grew at a disappointing 4.4 percent in September, compared to 8.2 percent in the like month the previous fiscal, as decline in capital goods output along with a base effect pulled down the index, according to data released Friday.

The straight two month fall in the index of industrial … Read the original article on Gaea Times at : India’s industrial output grew 4.4 percent in September.

Finally, India and Japan to ink trade agreement in January

NEW DELHI – Capping four years of protracted negotiations, India and Japan are set to ink in January a Comprehensive Economic Partnership Agreement (CEPA), a potential game-changer that can transform sluggish business ties between two of Asia’s largest economies.

The modalities of signing the CEPA in January are being worked out, an official who did … Original source on Gaea Times at : Finally, India and Japan to ink trade agreement in January.

G20 summit ends with watered-down statement

SEOUL – The Group of 20 summit in Seoul ended Friday with a joint statement that papered over the leaders’ main differences.

“We have produced specific and tangible results,” South Korean President Lee Myung Bak said at the close of the meetings of the world’s largest economies.
Despite the host’s talk of a “historic agreement”, …. Source article on Gaea Times at  : G20 summit ends with watered-down statement.

Nepal’s casino king cuts new deal

KATHMANDU – When faced with great danger, the best-known gamblers of the world have been known to keep their cool, as well as their shirt on. Remember British Agent 007 James Bond in “Casino Royale” and Amitabh Bachchan as the Great Gambler in the 1979 Bollywood movie of the same name?

Now a real-life character …. Original article on Gaea Times at  : Nepal’s casino king cuts new deal.

India, Canada begin free trade talks

SEOUL – India and Canada Friday launched talks for a comprehensive economic partnership pact, another step towards furthering their trade and business ties after signing a nuclear deal this year.

The decision was taken at a meeting between Prime Minister Manmohan Singh and his Canadian counterpart Stephen Harper on the margins of the G20 Summit … Read : India, Canada begin free trade talks.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on November 12, 2010 are:

Amount  (face value in ` crore)                    

Item

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

3 days Repo Auction 
(Purchase of … Read more >>>.

India, Canada launch free trade talks

SEOUL – India and Canada Friday launched talks for a comprehensive economic partnership pact, another step towards furthering their trade and business ties after inking a nuclear deal earlier this year.

The decision was taken at a meeting between Prime Minister Manmohan Singh and his Canadian counterpart Stephen Harper on the margins of the … Read : India, Canada launch free trade talks.

G20 talks go down to the wire

SEOUL – Discussions on a joint statement by Group of 20 (G20) leaders were going down to the wire Friday with negotiators at odds over the wording to be used to address currency disputes.

But the latest drafts also suggested the leaders of the world’s 20 largest economies would paper over many of their differences, … Read : G20 talks go down to the wire.

After Apple, Dell and Samsung pose challenges to BlackBerry

TORONTO – Though BlackBerry maker Research In Motion (RIM), based at Waterloo near here, has not commented on the development, Dell’s decision to take nearly 25,000 of its employees off BlackBerry smart phones is another bad news for the Canadian icon.

The Texas-based computer and IT giant, which has over 100,000 employees around the world, …. Original article  : After Apple, Dell and Samsung pose challenges to BlackBerry.

G20 nations must help fix infrastructure gaps: Manmohan Singh

SEOUL – Indian Prime Minister Manmohan Singh Friday put his grand proposal before the G20, calling for a new global rebalance in which funds from surplus nations can go to bridging the infrastructure gap in poor and emerging economies to avoid destabilisation.

He also warned against protectionism in the wake of unemployment in rich nations, …. Original article on Gaea Times at  : G20 nations must help fix infrastructure gaps: Manmohan Singh.

Sensex slips 84 points in early trade

MUMBAI – A benchmark index of Indian equities Friday fell 84 points soon after the opening bell.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,529.74 points, was ruling at 20,505.08 points – down 84.01 points or 0.41 percent from its previous close at 20,589.09 points.
At the National … Original source on Gaea Times at : Sensex slips 84 points in early trade.

Money Market Operations as on November 11, 2010

…. Read the original article  : Money Market Operations as on November 11, 2010.

Profit-taking sends Tokyo stocks down

TOKYO – Stocks in Tokyo dropped in Friday morning trading as investors sold shares to lock in recent gains that had seen the benchmark Nikkei 225 Stock Average climb above 9,800.

The Nikkei ended the morning session down 80.14 points, or 0.81 percent, at 9,781.32 while the broader Topix index also dropped 5.46 points, or … Read more »».