Business News – Newsletter for November 18, 2010

Thursday, November 18, 2010

Sony launches world’s first tilting TV

LONDON – Electronics giant Sony has launched what is being billed as the world’s first television with a screen which can be tilted backwards, which the company says is optimum for comfortable viewing.

Apparently, a slight backwards lean of six degrees is now the best position for a TV set as many of us mount …. Original article : Sony launches world’s first tilting TV.

Sensex volatile; Reliance Comm, ICICI Bank plunge

MUMBAI – A benchmark index of Indian equities turned positive in afternoon trade Thursday after plunging over 200 points earlier due to sharp fluctuations in banking scrips.

The benchmark index of the Bombay Stock Exchange (BSE) opened in the positive at 19,997.83 points and crossed the psychologically important 20,000-point mark within a few minutes.
… Original article on : Sensex volatile; Reliance Comm, ICICI Bank plunge.

Orissa Power embarks on Rs.10,000 crore expansion plan

BHUBANESWAR – Orissa Power Generation Corporation Ltd (OPGC) has floated a global tender for expansion of its coal-fired power plant in the state, a company official said Thursday.

The company, a joint venture between the Orissa government and US-based power giant AES Corporation, operates two thermal power plants of 210 MW each at Banharpali in … Original source on Gaea Times at : Orissa Power embarks on Rs.10,000 crore expansion plan.

Food inflation drops sharply to 10.30 percent

NEW DELHI – India’s annual food inflation declined sharply by two percentage points to 10.30 percent for the week ended Nov 6 from 12.30 percent in the previous week, showing a downward trend for the fifth consecutive week.

The annual inflation rate for the primary articles group declined to 13.30 percent during the week under …. Source article : Food inflation drops sharply to 10.30 percent.

Target Black Friday Ads Create Splash!

SAN FRANCISCO (GaeaTimes.com)- As Black Friday is drawing closer the giant US retailers are leaving no stone unturned to reach out to the buyers with their lucrative offers on Black Friday. Target which is among the top retailers has come out with a plethora of attractive deals for Black Friday and the ad is … Read more >>.

Infrastructure key to India’s growth: ONGC chief

BANGALORE – India’s ability to sustain a high growth rate would be determined by the pace of infrastructure development and stability in the country, a top official said Thursday.

Infrastructure development pace and social-political stability in the country will be key to sustain the high growth rate, state-run Oil and Natural Gas Corporation (ONGC) chairman …. Original article : Infrastructure key to India’s growth: ONGC chief.

Bharti Airtel crosses 200 mn subscribers

NEW DELHI – Telecom giant Bharti Airtel Thursday crossed the 200 million-customer-mark which includes 150 million in the Indian market, the company said. Its top official said the company will comply with any decision the government takes on the 2G spectrum allocation.

The company also rebranded itself with a new signature tune and a … Read more >>>.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.45 and the Reference Rate for Euro is ` 61.80 on November 18, 2010. The corresponding rates for the previous day (November 16, 2010) were ` 45.22 and ` 61.55 respectively. Based on the Reference Rate for US …. Source article on Gaea Times at : RBI Reference Rate for US $ and Euro.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on November 18, 2010 are:

Amount (face value in ` crore)

Item

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

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

‘Free trade pact to boost India-Canada trade’

TORONTO – Welcoming the talks between India and Canada to clinch a free trade agreement, major Indo-Canadian bodies Wednesday said the pact will boost bilateral trade.

Vinay Nagpal, president of the Indo-Canada Chamber of Commerce (ICCC), said the Indian diaspora in Canada is hoping that “the negotiations will be completed successfully in the near future.”
… Read this article on Gaea Times at : ‘Free trade pact to boost India-Canada trade’.

Chinese, American hops dash Himachal hopes

KEYLONG – A species of hops is a key ingredient in brewing beer and, true to its nature, it has left a bitter taste in the mouth of farmers in Himachal Pradesh thanks to cheaper varieties from China, the US and Germany.

Hops cultivators in Lahaul and Spiti district are planning to give up production …. Source : Chinese, American hops dash Himachal hopes.

Money Market Operations as on November 16, 2010

…. Original article : Money Market Operations as on November 16, 2010.

Tokyo stocks rise in morning trading

TOKYO – Japanese shares rose in Thursday morning trading supported by banking issues and the yen’s stability.

The benchmark Nikkei 225 Stock Average gained 59.85 points, or 0.61 percent, to trade at 9,871.51. The broader Topix index was up 6.57 points, or 0.77 percent, at 856.87.
The Nikkei briefly rose above 9,900 led by the … Read this article on Gaea Times at : Tokyo stocks rise in morning trading.

200-year-old champagne to be auctioned

HELSINKI – Two bottles of rare champagne salvaged from a 200-year-old shipwreck in the Baltic Sea revealed their secrets at a tasting ceremony Wednesday.

The bottles were discovered by a team of divers earlier this summer on the wreck in the archipelago of the semi-autonomous Aland Islands, located between Sweden and Finland.
Britt Lundberg, a … Read more »».

Online travel firm Kayak files for $50-mn IPO

SAN FRANCISCO – Online travel firm Kayak filed for an initial public offering Wednesday worth $50 million.

One of the internet’s leading sites in helping travellers find good deals for flights, hotels and rental cars, Kayak said it had revenues this year of $128 million through September, with profits of $6.2 million. The company said … Read more : Online travel firm Kayak files for $50-mn IPO.