Business News – Newsletter for November 22, 2010

Kasundia Co-operative Bank Ltd., Howrah ??? Penalised

The Reserve Bank of India has imposed a penalty of ` 1.00 lakh (Rupees One Lakh only) on Kasundia Co-operative Bank Ltd., Howrah in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 for violation of the provisions … Read this article on Gaea Times at : Kasundia Co-operative Bank Ltd., Howrah ??? Penalised.

Construction of nuclear power plant begins in Gujarat

MUMBAI – Construction of a state-of-the-art indigenously designed nuclear power plant unit began Monday in Gujarat, an official said here.

The first pour of concrete, signifying the zero date (the official start of construction) was achieved at the Kakrapar 3 and 4 atomic power plant, near Surat.
Both the reactors have been designed by the …. Source  : Gaea News Network.

Navi Mumbai airport gets green signal finally

NEW DELHI – The environment ministry Monday cleared the Navi Mumbai airport, paving the way for a second airport to ease air traffic in Mumbai.

The green ministry and the aviation ministry had been at loggerheads over the alleged delay in environment clearance for the airport.
“Today, formally the environmental clearance has been given … Read more : Navi Mumbai airport gets green signal finally.

Mobile number portability to be rolled out Thursday

NEW DELHI – The much awaited mobile number portability (MNP), which allows subcribers to change their mobile operators while retaining their old number, will be inaugurated Thursday in Rohtak district of Haryana.

According to an earlier statement of the Department of Telecom, the scheme will gradually be extended to other circles as well.
MNP …. Source  : Mobile number portability to be rolled out Thursday.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.29 and the Reference Rate for Euro is ` 62.27 on November 22, 2010. The corresponding rates for the previous day (November 19, 2010) were ` 45.26 and ` 61.78 respectively. Based on the Reference Rate for … Read the original article on Gaea Times at : RBI Reference Rate for US $ and Euro.

Sensex holding on to gains in noon trade

MUMBAI – A benchmark index of Indian equities market managed to hold on to most of its early gains in noon trade Monday amid mixed cues from other Asian markets.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,713.84 points, was ruling at 19,783.16 points, up 161.68 points or [..] Read the original article: here.

2011 to be the year of the tablet

TORONTO – With the BlackBerry maker Research In Motion (RIM) launching the PlayBook early next year, the tablet is set to become the next big device in the new year.

With the roaring success of Apple’s iPad which has sold in millions since its launch in April, the BlackBerry maker Research In Motion (RIM) … Original source on Gaea Times at : 2011 to be the year of the tablet.

Malaysian Indian Congress chief to be business envoy

KUALA LUMPUR – Malaysian Indian Congress (MIC) president S. Samy Vellu has announced his decision to step down this month-end and take up his new assignment as business envoy for five countries – India, Bangladesh, Pakistan, Sri Lanka and Maldives.

Vellu will bid farewell to his party colleagues when he chairs the last meeting of …. Original article on Gaea Times at  : Malaysian Indian Congress chief to be business envoy.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on November 22, 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.

Sensex rises in early trade

MUMBAI – A benchmark index of Indian equities Monday rose 197 points soon after opening bell.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,713.84 points, was ruling at 19,783.16 points, up 197.72 points or 1.01 percent from its previous close at 19,585.44 points.
At the National Stock Exchange … Read more »»».

Money Market Operations as on November 19, 2010

… Read this article on Gaea Times at : Money Market Operations as on November 19, 2010.

Uttar Pradesh sugar production to rise by 20 percent

LUCKNOW – Sugar production in Uttar Pradesh is expected to rise to over 60 lakh tonnes this year, a 20 percent increase over last year, an official said Sunday.

Enthused by the timely commencement of crushing in a number of sugar mills across the sugarcane-rich western parts of the state, Sugarcane Commissioner Kamran Rizvi was … Original source on Gaea Times at : Uttar Pradesh sugar production to rise by 20 percent.

Night shelter for homeless opens in Agra

AGRA – A night shelter for the homeless was inaugurated here Sunday to help them face the winter chill, an activist of a voluntary group said.

The shelter, which can accommodate 50 people, was inaugurated by Delhi’s income tax commissioner Digvijay Kumar at Subhash Park on M.G. Road.
It will provide quilts, blankets and … Original source on Gaea Times at : Night shelter for homeless opens in Agra.

India keen to enhance ties with UAE: President

Abu Dhabi, Nov 21 (IANS/WAM) Indian President Pratibha Patil has said the country is committed to promoting regional peace and security in Asia and enhancing relations with the United Arab Emirates (UAE) in the political, economic and cultural fields.

“We have historical and civilisational links with the UAE and the Arab world. UAE is part … Read the original article on Gaea Times at : India keen to enhance ties with UAE: President.

Best Buy For Black Friday 2010 Ads On Internet

SAN FRANCISCO (GaeaTimes.com)- The U.S. citizens are all set to make the best use of the Black Friday 2010 deals, which will b on offer by almost all the retail stores all over the country. The deal would get all more exciting as it is starting from November 26, which corresponds to the Thanksgiving. …. Original article  : Best Buy For Black Friday 2010 Ads On Internet.

Pockpockets target trade fair visitors

NEW DELHI – Thieves and pickpockets are targeting visitors at the 30th edition of the India International Trade Fair (IITF), from where at least three complaints are being received daily, a police officer said Sunday.

According to sources, gangs of women thieves and pickpockets from Delhi and neighbouring states are active in the Nov 14-27 … Read more : Pockpockets target trade fair visitors.

Centre launches National Saffron Mission in Jammu and Kashmir

SRINAGAR – The Central Government on Sunday launched the National Saffron Mission (NSM) to boost saffron production in Jammu and Kashmir.

The rupees 3.76 billion programme was launched to boost the growth of saffron, which …. Original article  : Centre launches National Saffron Mission in Jammu and Kashmir.

2G spectrum scam: CPI-M seeks action against defaulting firms

NEW DELHI – The Communist Party of India-Marxist (CPI-M) Sunday called for action against companies which had acquired 2G spectrum by “illegal means” and said that the licences of companies which had not fulfilled their rollout obligations should be annulled.

In a statement released at the end of three-day meeting of its central …. Read the original article  : 2G spectrum scam: CPI-M seeks action against defaulting firms.

Work on Rohtang tunnel partially suspended after snowfall

MANALI – Heavy snowfall has partially paralysed the construction of the strategically important Rohtang tunnel in Kullu district of Himachal Pradesh, an official said Sunday.

“Excavation work of the tunnel on north portal that lies towards Lahaul and Spiti has been stopped altogether due to recent massive snowfall in the area and closure of roads … Read more »»».

Chavan plans monthly review of Vidarbha development work

MUMBAI – The new government in Maharashtra headed by Prithviraj Chavan Saturday resolved to give priority to the development of the Vidarbha region, which has one of the highest incidence of farmers suicides in the country.

Announcing this, Chief Minister Prithviraj Chavan told mediapersons here that the development issues concerning Vidarbha would be accorded top …. Source article  : Chavan plans monthly review of Vidarbha development work.