Business News – Newsletter for November 19, 2010

Ministry will consider cancellation of licences: Sibal

NEW DELHI – Telecom and IT Minister Kapil Sibal Friday said his ministry will consider the recommendation of the Telecom Regulatory Authority of India (TRAI) to cancel the 2G licences allotted since December 2006.

“We will consider it,” Sibal told reporters on the sidelines of the HT Leadership Summit 2010 here.
In a new … Read more : Ministry will consider cancellation of licences: Sibal.

Fiat 500 Unveiled In USA

LOS ANGELES (GaeaTimes.com)- Fiat the stalwart Italian car maker which had almost vanished from the US automobile industry is planning for a grand comeback. The rivals like Toyota and GM are now being haunted by recall and other issues thus it can try reestablishing the brand name in US market once again! The car … Read more : Fiat 500 Unveiled In USA.

7,300 acres to be taken from Bokaro plant

RANCHI – The Jharkhand government plans to take back the unused 7,300 acres of land from Bokaro steel plant, an official Friday.

The decision was taken at a meeting between Land and Revenue Minister Mathura Mahto and officials. “The land will be used for other purposes or it will be returned to land owners,” an …. Source article  : 7,300 acres to be taken from Bokaro plant.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.26 and the Reference Rate for Euro is ` 61.78 on November 19, 2010. The corresponding rates for the previous day (November 18, 2010) were ` 45.45 and ` 61.80 respectively. Based on the Reference Rate for … Original article on : RBI Reference Rate for US $ and Euro.

Sensex flat in noon trade

MUMBAI – Benchmark indices of Indian equities markets pared early day losses to trade flat a little after noon Friday.

The BSE 30-share benchmark index, which opened on a positive note at 19,982.75 points, was ruling at 19,905.11 points, down 25.53 points or 0.13 percent, compared to its previous close at 19,930.64 points.
At the …. Read the original article  : here.

Airtel 3G Services On The Anvil

DELHI, INDIA (GaeaTimes.com)- After Tata Docomo it is the turn of leading GSM services operator Airtel to unveil its 3G network in India. It has won 3G spectrum in 13 circles in the country and it is going to introduce 3G services shortly in these areas the MD and chairman Sunil Mittal said in …. Original article on Gaea Times at  : Airtel 3G Services On The Anvil.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on November 19, 2010 are:

Amount  (face value in ` crore)                          

Item

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

3 days Repo Auction 
…. Source  : Gaea News Network.

Airtel New Logo Released

DELHI, INDIA (GaeaTimes.com)- Airtel which is the leading GSM mobile telephony service provider of India has recently changed its logo. The new logo for 2010 was unveiled by Sunil Mittal the chairman and MD of Airtel. This change comes on the heels of Bharti Airtel touching the 200 million user mark worldwide. As of …. Original article  : Airtel New Logo Released.

Pakistani traders reap bumper business at IITF

NEW DELHI – Pakistani textiles, spices and handicrafts have become huge hits at the 30th India International Trade Fair (IITF) here. Pakistani traders have reported bumper sales thanks to cash-rich Indian customers.

Ali Noor, a Karachi-based Pakistani businessman dealing in spices and readymade food pastes, told IANS: “This is my first experience at the Trade …. Source article on Gaea Times at  : Pakistani traders reap bumper business at IITF.

Best Buy Black Friday Ads Make Buyers Awestruck

SAN FRANCISCO (GaeaTimes.com)- With Black Friday approaching the top US retailers are trying to woo the customers with their competitive deals and some of their deals which have already appeared on the web are making the shoppers berserk with excitement. To be frank, some of the Black Friday deals are simply irresistible and the …. Read the original article  : here.

Malaysia will help Indian entrepreneurs: PM Najib

KUALA LUMPUR – Malaysian Prime Minister Najib Tun Razak has said his country was ready to be India’s gateway into Southeast Asia by facilitating the entry of Indian entrepreneurs into the region.

Malaysia was “a strategic commercial destination” for Indians wishing to enter the Association of Southeast Asian Nations (Asean), Najib said at the “Asean …. Source  : Malaysia will help Indian entrepreneurs: PM Najib.

White House says stimulus created 3.5mn jobs

WASHINGTON – US President Barack Obama lauded the “success story” of General Motors’ stock sale as the White House claimed a $787 billion stimulus bill would produce 3.5 million jobs by yearend.

Touting GM’s near-record initial public offering Thursday as validation of his controversial move to bail out the auto giant last year, he said: … Read : White House says stimulus created 3.5mn jobs.

Money Market Operations as on November 18, 2010

…. Read the original article  : here.

Tokyo stocks rise on weaker yen, US rally

TOKYO – Japanese shares rose in Friday morning trading following an overnight rally on Wall Street and as exporters were buoyed by a weaker yen.

The benchmark Nikkei 225 Stock Average gained 60.92 points, or 0.61 percent, to trade at 10,074.55. The broader Topix index was up 3.56 points, or 0.41 percent, at 872.37.
…. Original article on Gaea Times at  : Tokyo stocks rise on weaker yen, US rally.

Android will beat iPhone: Apple founder

SAN FRANCISCO – Apple co-founder Steve Wozniak has praised Google’s smartphone operating system Android and predicted that it will soon surpass the iPhone operating system in both quantity and quality.

The comments by the man who invented the first Mac computer came as Android-powered phones are fast catching up with Apple’s iPhones in market share, [..] Read the original article: here.

State Bank of India Recruiting IT Specialist Officers

If you are in IT industry for a decade now and have been dreaming of a job in banking sector, then here’s your opportunity, don’t just waste your time, grab hold of it.
State Bank of India has one of the largest Core Banking Systems and ATM Networks in the world. Bank Branches and ATM …. Source article on Gaea Times at  : State Bank of India Recruiting IT Specialist Officers.

TRAI asks Govt. to cancel 62 licenses of five telecom companies

NEW DELHI – The Telecom Regulatory Authority of India (TRAI) has asked the government to cancel 62 licenses given to five telecom companies including Etisalat (Swan), Uninor and Videocon.

It has been reported that the recommendation for this action was made to the Telecom Ministry on Thursday.

The action comes …. Source  : TRAI asks Govt. to cancel 62 licenses of five telecom companies.

Bharti Airtel has 200 million customers: Mittal

NEW DELHI – Sunil Bharti Mittal, Chairman and Managing Director, Bharti Airtel, on Thursday announced that the company has crossed the significant milestone of 200 million customers in the year 2009-10.

“We are today announcing and celebrating. Airtel having achieved the 200 million mark of customers. … Read more »»».

Power restored in most of north Mumbai

MUMBAI – Power was restored to most parts of north Mumbai after the region plunged into darkness following a power breakdown, officials said.

The power disruption was reported around 6 p.m., and lasted from 20 minutes to two hours in various areas of the city and its northern suburbs. It was attributed to a supply …. Source  : Power restored in most of north Mumbai.

Watghdog wants 69 teleom licences scrapped for poor roll-out

NEW DELHI – In a new twist to the controversy that led to the resignation of A. Raja communications minister , India’s telecom watchdog Thursday recommended scrapping of 69 of the 130 licences given for 2G phone services since December 2006.

“The roll-out of services on these licences has failed to comply with the set …. Source  : Gaea News Network.