Business News – Newsletter for November 16, 2010
Tuesday, November 16, 2010
Walmart Black Friday 2010 Ads Sending Waves Everywhere!
SAN FRANCISCO (GaeaTimes.com)- The excitement and enthusiasm of the shoppers surrounding the upcoming Black Friday sales is soaring higher with each passing day. With Walmart coming up with its Black Friday 2010 ads the shopaholics are gearing up for hitting the stores at the wee hour of Black Friday, Nov 26th. It has …. Source article on Gaea Times at : Walmart Black Friday 2010 Ads Sending Waves Everywhere!.
Sensex plunges below 20,000-points mark
MUMBAI – A benchmark index of Indian equities fell below the 20,000-point mark Tuesday on heavy selling pressure amid weak Asian cues.
The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) was trading nearly two percent lower at 19,916 points in the afternoon session.
At the National Stock Exchange (NSE), the … Read more »».
Government committed to strengthening CAG, asserts PM
NEW DELHI – Prime Minister Manmohan Singh said Tuesday his government was committed to strengthening the institution of the Comptroller and Auditor General, the country’s top audit body, in order to improve transparency and accountability.
Let me take this opportunity to re-affirm our governments commitment to strengthen the institution of Comptroller and Auditor General of …. Original article : Government committed to strengthening CAG, asserts PM.
Consortium of banks sought for Vizhinjam port
THIRUVANANTHAPURAM – Kerala Chief Minister V.S. Achuthanandan Tuesday said a consortium of banks has been envisaged to raise Rs.2,500 crore as initial funding for the proposed port at Vizhinjam near here.
“State Bank of Travancore has been asked to take the lead to start talks with all the banks in the state to see that …. Source : Consortium of banks sought for Vizhinjam port.
China to need over 3,750 jumbo jets by 2029
BEIJING – China will need more than 3,750 jumbo jets to meet market demand by 2029, the Commercial Aircraft Corporation of China (COMAC) said, adding it had struck deals to deliver 100 of its jumbo jets to Air China and five other airlines.
Over the next 20 years, air passenger volume in China will be … Read more : China to need over 3,750 jumbo jets by 2029.
Trade pact will give $12 bn boost to Indian economy: Canadian minister (Interview)
NEW DELHI – The proposed Comprehensive Economic Partnership Agreement (CEPA) between India and Canada is estimated to give an annual boost of $12 billion to the Indian economy, says Canadian Minister of International Trade Peter Van Loan.
“We are quite excited about the agreement. It will be offering an annual benefit of $6-15 billion …. Source : Trade pact will give $12 bn boost to Indian economy: Canadian minister (Interview).
Liquidity Adjustment Facility : Auction Results
The results of the RBI Repo/Reverse Repo auctions held on November 16, 2010 are:
Amount (face value in ` crore)
Item
2 days Reverse Repo Auction
(Sale of securities by RBI)
2 days Repo Auction
… Read : Liquidity Adjustment Facility : Auction Results.
Kmart Black Friday 2010 Ads Make Waves!
SAN FRANCISCO (GaeaTimes.com)- The Black Friday is just a few days away and the giant retailers in the USA are leaving no stones unturned to lure the buyers on the much awaited day. They are trying to offer the buyers the best possible deals to ensure they flock to their stores and not at …. Original article : Kmart Black Friday 2010 Ads Make Waves!.
RBI Reference Rate for US $ and Euro
The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.22 and the Reference Rate for Euro is ` 61.55 on November 16, 2010. The corresponding rates for the previous day (November 15, 2010) were ` 45.14 and ` 61.74 respectively. Based on the Reference Rate for … Read more : RBI Reference Rate for US $ and Euro.
One in seven US households faced hunger in 2009
WASHINGTON – At least one in seven households in the US faced hunger in 2009, with those getting emergency food almost doubling between 2007 and 2009, at the height of the recession.
The number of households facing food insecurity jumped to 5.6 million from 3.9 million, said a report published Monday by the Economic Research … Read : One in seven US households faced hunger in 2009.
Underwriting Auctions for Government
The Government of India have announced the sale (reissue) of “7.17 per cent Government Stock 2015 ” for a notified amount of Rs.4,000 crore (nominal), "8.08 per cent Government Stock 2022" for a notified amount of Rs.4,000 crore (nominal) and "8.26 per cent Government Stock 2027” for a notified amount … Read the original article on Gaea Times at : Underwriting Auctions for Government.
Indians want upgrade on trade with China on Silk Route
NATHU LA – Indian traders have urged the government to review the list of items tradable with China to boost business through the fabled Silk Route.
“The present list of import-export should be amended and widened to meet the need of the present age. The list of goods notified for transaction is a list prepared …. Original article on Gaea Times at : Indians want upgrade on trade with China on Silk Route.
Global economic power shifting towards China: George Soros
TORONTO – Noted financier and philanthropist George Soros said here Monday that Beijing was tightening its grip on the world economy and global economic power was shifting away from the US to China.
Accepting the Globalist of the Year award from the Canadian International Council here, Soros drew a parallel between the decline of Britain …. Original article : Global economic power shifting towards China: George Soros.
Nooyi, Jha, Pandit among US’ top-paid CEOs: Report
WASHINGTON – PepsiCo’s Indra Nooyi, Motorola’s Sanjay Kumar Jha and Citigroup’s Vikram Pandit are the three Indian-Americans among US’ highest paid CEOs listed by Wall Street Journal.
Nooyi is ranked 67th with a total pay package of $13.97 million, Jha bagged the 377th spot with a total compensation of $3.45 million, with Pandit bringing up …. Original article : Nooyi, Jha, Pandit among US’ top-paid CEOs: Report.
What happens when people turn their backs on brands they once loved?
WASHINGTON – A new study has found that people get emotional when they end a relationship with a brand they once loved.
“Customers who were once enthusiastic about a brand may represent a headache for the associated firm beyond the lost revenue of foregone sales because they sometimes become committed to harming the firm,” wrote authors.
The …. Read the original article : What happens when people turn their backs on brands they once loved?.
Misleading size labels encourage ‘guiltless gluttony’ amongst consumers
WASHINGTON – A new research has revealed that size labels on food products can often mislead people into thinking that it’s a “small” portion, and consequently lead to overeating.
Nilufer Z. Ayinoglu (Koc University, Istanbul) and Aradhna Krishna (University of Michigan) found that inconsistent portion sizes contribute to people’s uncertainty about the appropriate amount to eat.
Money Market Operations as on November 15, 2010
… Read more »»».
Tokyo stocks fall on profit taking
TOKYO – Stocks in Tokyo made initial gains in Tuesday morning trading but fell back due to profit taking.
The benchmark Nikkei 225 Stock Average lost 21.99 points, or 0.22 percent, to stand at 9,805.52 while the broader Topix index was down 3.99 points, or 0.47 percent, at 847.57.
Shares in export-oriented companies were boosted … Original source on Gaea Times at : Tokyo stocks fall on profit taking.
Singapore Airlines to replace engine part on A380 plane
SINGAPORE – Singapore Airlines will replace one component of the Rolls Royce engines on all 11 of its A380 superjumbos, a spokesman for the airline said Tuesday.
The precautionary measure had been advised by engine manufacturer Rolls Royce, he said.
Last week, Rolls Royce identified a single faulty component in its Trent 900 engines for … Original article on : Singapore Airlines to replace engine part on A380 plane.
Startup Path bids to be ‘anti-social network’
SAN FRANCISCO – A former Facebook executive launched a new social network Monday with a twist. Path.com limits the number of friends members can have at any one time to 50.
That may be a far cry from the hundreds and often thousands of friends that many Facebook members list as part of their social …. Original source : Startup Path bids to be ‘anti-social network’.