Business News – Weekly Newsletter for November 15-22, 2010

Monday, November 22, 2010

Sensex choppy; realty, capital goods stocks drop

MUMBAI – A benchmark index of Indian equities was trading weak in the afternoon session due to lack of supportive cues.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) was trading 40 points down at 20,116 points in the afternoon session.
After losing over four percent last week, the index opened …. Source article on Gaea Times at : Sensex choppy; realty, capital goods stocks drop.

Government seeks house approval for extra spending

NEW DELHI – The government Monday sought an approval from parliament for an additional expenditure of nearly Rs.45,000 crore during the current year.

The supplementary demands for grants for 2010-11 were presented in the Lok Sabha by Finance Minister Pranab Mukherjee amid noisy protests by opposition members, who were demanding a joint parliamentary committee probe … Read the original article on Gaea Times at : Government seeks house approval for extra spending.

Snowfall ahead, BRO stops operations on Rohtang Pass

MANALI – Anticipating heavy snowfall, the Border Roads Organisation (BRO) Monday stopped operations on the Rohtang Pass till the onset of summer. The road connects this Himachal Pradesh town to Leh in Jammu and Kashmir.

From today (Monday) onwards, we will not be in a position to carry out any evacuation operation or snow clearing …. Original article : Snowfall ahead, BRO stops operations on Rohtang Pass.

Deloitte to invest $100 mn in Indian market

NEW DELHI – Global consulting firm Deloitte Monday said it would invest $100 million in the Indian market to expand its services in the country.

The firm also plans to increase its headcount by an additional 20 percent to take its total number of employees to over 18,000 by 2012. With this move, Deloitte … Original article on : Deloitte to invest $100 mn in Indian market.

India looks at Trinidad and Tobago for oil

Port-of-SPAIN – An Indian delegation held a string of talks with ministers and top officials in oil and gas rich Trinidad and Tobago “to enhance trade relations” in the field of energy with the Caribbean nation.

The Indian delegation comprising senior officials from Indian gas companies met Minister of Finance Winston Dookeran and Minister Energy … Read the original article on Gaea Times at : India looks at Trinidad and Tobago for oil.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on November 15, 2010 are:

Amount (face value in ` crore)

Item

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

1 day Repo Auction
… Read this article on Gaea Times at : Liquidity Adjustment Facility : Auction Results.

Billionaire Saudi prince wows Nepal

KATHMANDU – Described as the 19th richest man in the world by Forbes magazine, Saudi billionaire prince Al-Waleed bin Talal has created great excitement and anticipation with his maiden visit to Nepal with the government deciding to decorate him with the country’s biggest honour in a bid to attract investment.

Nepal’s council of ministers Monday …. Read the original article : here.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.14 and the Reference Rate for Euro is ` 61.74 on November 15, 2010. The corresponding rates for the previous day (November 12, 2010) were ` 44.64 and ` 60.73 respectively. Based on the Reference Rate for US …. Original source : RBI Reference Rate for US $ and Euro.

Trade with India can be new Silk Route for Canada: Report

TORONTO – Trade with India could be new Silk Route for Canada, according to a report by the country’s top TV network.

Hailing the beginning of talks for a free trade agreement between the two countries, Canada’s CTV network said, “Canada and India are ideal trade partners that simply don’t trade enough. So Canadians …. Source : Gaea News Network.

Money Market Operations as on November 12, 2010

[..] Read the original article: here.

Tokyo stocks climb on yen’s retreat

TOKYO – Stocks in Tokyo rose in Monday morning trading, bolstered by the third-quarter’s better-than-expected gross domestic product figures and the yen’s decline against major currencies.

The benchmark Nikkei 225 Stock Average gained 69.3 points, or 0.71 percent, to trade at 9,794.11 while the broader Topix index was up 2.62 points, or 0.31 percent, to …. Original article on Gaea Times at : Tokyo stocks climb on yen’s retreat.

2G scam: Opposition parties demand parliamentary probe

CHENNAI – Tasting victory with the resignation of Communications and IT Minister A.Raja over the 2G spectrum allotment scam, opposition parties in Tamil Nadu Sunday demanded a joint parliamentary committee (JPC) probe.

Speaking to IANS, AIADMK’s Deputy Parliamentary Leader V. Maitreyan said: “Raja’s resignation is not an end, it is only a beginning. Cases should … Original article on : 2G scam: Opposition parties demand parliamentary probe.

Raja resigns over spectrum row, DMK relents (Intro Roundup)

NEW DELHI/CHENNAI – After adamantly refusing to resign, beleagured Communications and IT Minister A. Raja quit the cabinet late Sunday over the 2G spectrum controversy, ending an opposition-Congress standoff that had paralysed parliament.

After being instructed by DMK chief and Tamil Nadu Chief Minister M. Karunanidhi, Raja drove to Prime Minister Manmohan Singh’s official 7 … Original source on Gaea Times at : Raja resigns over spectrum row, DMK relents (Intro Roundup).

Raja quits over spectrum row, DMK bows (Roundup)

After being instructed by DMK chief and Tamil Nadu Chief Minister M. Karunanidhi, Raja drove to Prime Minister Manmohan Singh’s official 7 … Read more »»».

Raja meets PM, submits resignation

NEW DELHI – Telecom Minister A.Raja, at the heart of a controversy over 2G spectrum allocation, met Prime Minister Manmohan Singh late Sunday and submitted his resignation.

DMK spokesman and MP T.K.S. Elangovan told a news channel that the party leadership had advised Raja to step down so that parliament could function peacefully.
He …. Read the original article : Raja meets PM, submits resignation.

Nuclear plants needed to meet energy demand: UAE paper

Abu Dhabi, Nov 14 (IANS/WAM) The United Arab Emirates (UAE) should look for alternatives to natural resources and nuclear plants for each emirate should be part of a long-term federal strategy, a prominent newspaper of the region has said.

As the UAE’s population is set to increase up to 12 million in the foreseeable …. Read the original article : here.

New water policy for better regulation of usage: Ahluwalia

NEW DELHI – The government is working on a new water policy which could regulate the manner in which it is used across the country and levy a charge on usage, Planning Commission Deputy Chairman Montek Singh Ahluwalia said Sunday.

“There is a group of ministers under (Agriculture Minister) Sharad Pawar, which is looking … Read more : New water policy for better regulation of usage: Ahluwalia.

Most expensive coin on Taj to be released in Paris

AGRA – Agra Mayor Anjula Singh Mahaur Sunday said both the central and Uttar Pradesh governments were not interested in promoting tourism. Her remarks come close on the heels of her proposed trip to France for the release of the most expensive coin on the Taj Mahal being shot down.

The French coin depicting the …. Original article on Gaea Times at : Most expensive coin on Taj to be released in Paris.

Falling industrial output won’t affect growth target: Ahluwalia

NEW DELHI – A sharp fall in India’s industrial output in the last two months is an aberration and the government is confident of achieving 8.5 percent economic growth during the current fiscal, Planning Commission Deputy Chairman Montek Singh Ahluwalia said Sunday.

“We are not going to alter our growth forecasts. We will stick to … Read this article on Gaea Times at : Falling industrial output won’t affect growth target: Ahluwalia.

Full scale domestic operations commence at T3

NEW DELHI – Jet Airways and Kingfisher Airlines Sunday shifted their domestic operations to Terminal-3 (T3) of the Indira Gandhi International Airport (IGIA) here, thus commencing the full scale domestic operations of the swanky new terminal.

Effective today, all domestic flights of Kingfisher Airlines, including flights operating Kingfisher RED class of service, will depart from …. Source article : Full scale domestic operations commence at T3.

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.

“In …. Original article on Gaea Times at : Misleading size labels encourage ‘guiltless gluttony’ amongst consumers.

Money Market Operations as on November 15, 2010

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’.

CPI-M tells PM: Explain the spectrum scam

NEW DELHI – The Communist Party of India-Marxist (CPI-M) Wednesday asked Prime Minister Manmohan Singh to explain how the “murky” 2G spectrum scam dragged on and sought the prosecution of disgraced former communication minister A. Raja.

“The Supreme Court has correctly asked why the prime minister delayed responding to the request for permission to prosecute … Read more »»».

Maoist violence, poverty mar growth in decade-old Chhattisgarh

RAIPUR – In 10 years of existence, Chhattisgarh has become a study in contrasts. While the state recorded a high growth rate at 11.49 percent, people contest claims of development by citing the fast spreading Maoist insurgency, lack of healthcare and poverty.

A state of 20.08 million people today, Chhattisgarh was carved out of Madhya …. Source article on Gaea Times at : Maoist violence, poverty mar growth in decade-old Chhattisgarh.

Chennai to host maritime technology conference

CHENNAI – The economy is expected to grow at a brisk pace, which in turn means that transport of goods via sea, maritime technology and other connected sectors are set to gain importance — these and other issues will be discussed at the Indian Maritime Technology Conference 2011 in January here.

Industry body Confederation of …. Source article : Chennai to host maritime technology conference.

Asia Society honours Mukesh Ambani

NEW YORK – Asia Society New York has presented its Global Vision Award to Mukesh Ambani, head of India’s Reliance Industries Ltd. at a gala event honoring global leaders who help promote understanding between Asians and Americans.

In 2009, Ambani was ranked fifth best performing CEO in the world by the Harvard Business Review and … Read : Asia Society honours Mukesh Ambani.

Canadian PM lights Diwali lamp, eyes more trade with India

TORONTO – Canadian Prime Minister Stephen Harper said Tuesday night that the proposed free trade agreement with India will usher in a new era of economic ties between the two countries.

Speaking after lighting a lamp at the annual Diwali function at the Canadian parliament, Harper said as they celebrate the festival of lights in … Read the original article on Gaea Times at : Canadian PM lights Diwali lamp, eyes more trade with India.

Indian vegetable imports help cool prices in Lahore

LAHORE – Onion and tomato prices dipped in Lahore following the arrival of vegetables from India.

Onion prices had reached Rs.100 per kg a week back. But it came down substantially ahead of Eid and was now available for Rs.60 to Rs.80 per kg.
The News International quoted vendors as saying major Pakistani dealers had … Original source on Gaea Times at : Indian vegetable imports help cool prices in Lahore.

BlackBerry fires salvo at Apple, rubbishes iPad in online video

TORONTO – Even before it launches its PlayBook early next year, BlackBerry maker Research In Motion (RIM) Tuesday formally joined the high-stakes battle with Apple for the new tablet market.

In an online video, the Canadian wireless giant further raised its war of words with Apple by showing how its PlayBook dwarfs the iPad for …. Source : Gaea News Network.

Himachal’s Baddi industrial area to have effluent plant

SHIMLA – A common effluent treatment plant will be set up at a cost of Rs. 80 crore in the Baddi-Barotiwala-Nalagarh industrial area in Himachal Pradesh’s Solan district to check industrial pollution, an official said.

“The state government has authorised Baddi Infrastructure Limited to set up a common effluent treatment plant at a cost of … Read : Himachal’s Baddi industrial area to have effluent plant.

Trade between Argentina, India to reach $2 bn

BUENOS AIRES – Argentina has expressed willingness to diversify exports to India as bilateral trade between the two countries is set to reach $2 billion in 2010, a near three-fold increase over the last year.

“Argentina and India have a common goal regarding vertiginous growth in bilateral trade and investments,” Xinhua quoted Argentine Minister of …. Source article on Gaea Times at : Trade between Argentina, India to reach $2 bn.

Quarter of Spanish children at risk of poverty: Unicef

Madrid, Nov 17 (IANS/EFE) One in four children in Spain live in homes at risk of poverty, Unicef said Tuesday in a report that identifies the offspring of immigrants as “especially vulnerable”.

While in 2006 the poverty rate for households with children born in Spain was 21.2 percent, it rose to 52 percent in the …. Source article : Quarter of Spanish children at risk of poverty: Unicef.

Tokyo stocks fall due to US and European losses

TOKYO – Stocks in Tokyo lost ground in Wednesday morning trading after falls on Wall Street and European markets.

The benchmark Nikkei 225 Stock Average lost 51.01 points, or 0.52 percent, to stand at 9,746.09 while the broader Topix index was down 2.80 points, or 0.33 percent, at 844.97.
On currency markets at noon (0300 … Read : Tokyo stocks fall due to US and European losses.

US stocks plummet on as eurozone debates Ireland’s debt crisis

NEW YORK – Major US stock indices fell sharply Tuesday, following on from a global sell-off as eurozone finance ministers looked for ways to keep debt-mired Ireland out of default.

Ireland did not ask for a bail-out from the European Union, insisting it can still manage its finances. But eurozone ministers in Brussels agreed to … Original article on : US stocks plummet on as eurozone debates Ireland’s debt crisis.

Google’s Android in charge for mobile payments

SAN FRANCISCO – Google’s forthcoming Android operating system will work with a new chip that allows users to tap their phones on in-store terminals to pay for purchases, Google chief executive Eric Schmidt has revealed.

News of the new technology coincided with Tuesday’s announcement by three major US wireless carriers that they were launching a …. Source : Google’s Android in charge for mobile payments.

Bengal minister challenges Trinamool on land acquisition

KOLKATA – Throwing a challenge to the opposition Trinamool Congress, which has launched a fresh movement on the land acquisition issue in the north eastern fringes of the city, the West Bengal government Tuesday offered to return 11 per cent of the acquired land if Mamata Banerjee’s party allowed Tata Motors to establish their second … Read more : Bengal minister challenges Trinamool on land acquisition.

Science key to UAE’s economic growth: Paper

Abu Dhabi, Nov 16 (IANS/WAM) The UAE has tremendous opportunity to develop its scientific capabilities that will immensely benefit the economy, an editorial said Tuesday.

Backed by the leadership’s vision in developing a modern and progressive society, the UAE can significantly improve its scientific capabilities, the Gulf News noted.
More women must be encouraged … Read more : Science key to UAE’s economic growth: Paper.

Wipro Infocrossing to set up new data centre in US

BANGALORE – Wipro’s IT infrastructure management services subsidiary Infocrossing will set up a new data centre at North Carolina in the US to support its growing business, the company said Tuesday.

The new data centre will be built in the building purchased in Cleveland County to support all major platforms, including mainframe, Windows, Unix, Linux …. Original article : Wipro Infocrossing to set up new data centre in US.

Railways will bring industrial boom in the country: Mamata

KOLKATA – Railway Minister Mamata Banerjee Tuesday said the railways will usher in an industrial boom in the country as her ministry is to set up 20 new industries in the next one year.

“We will set up 20 more heavy industries like wagon factories in underdeveloped areas of the country like Kalahandi in Orrisa, … Read more >>>.

‘Reliance Communications had no stake in Swan’

NEW DELHI – Reliance Communications Tuesday strongly denied having any stake in Swan Telecom, among the companies that India’s official auditor claims had benefited in the issue of 2G spectrum in 2008 during the tenure of then communications minister A. Raja.

“Our group had no shareholding in Swan Telecom at the time of grant …. Original article : ‘Reliance Communications had no stake in Swan’.

RBI to sensitise people about money laundering

KOLKATA – In a bid to raise public awareness about money laundering agencies, the Reserve Bank of India (RBI) has started a nationwide programme to sensitise people about “unscrupulous” and “unregistered” companies.

RBI regional director M. Chinaswami Tuesday said the programme was initiated after receiving reports about money laundering by “some fly by night operators …. Original source : RBI to sensitise people about money laundering.

India, Africa should deepen relationship: Kenya PM

NEW DELHI – India and Africa can deepen their partnership on the basis of their deep historical ties, Kenyan Prime Minister Raila Amolo Odinga said here Tuesday.

Speaking at a session on India-Africa partnership at the India Economic Summit, Odinga said co-operation between Africa, India and other emerging economies like Brazil and China is of …. Source : India, Africa should deepen relationship: Kenya PM.

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.

Google has designs on you

SAN FRANCISCO – Not content with involvement in almost every facet of your online life, online search giant Google now wants to get into your wardrobe.

The company Wednesday launched a site called Boutiques.com that attempts to assess your style and automatically find the clothing and accessories that suit your taste.
The service works by … Read more >>>.

Mamata rejects Bengal government offer on Singur land

KOLKATA – Trinamool Congress chief Mamata Banerjee Wednesday rejected the West Bengal government’s formula for enabling Tata Motors to set up its Nano car plant in Singur.

The government offered to return 10 percent of the acquired land to farmers if Banerjee allows the Tata Motors to set up its small car plant.
A …. Read the original article : Mamata rejects Bengal government offer on Singur land.

UAE, Panama sign ‘open sky’ agreement

Dubai, Nov 17 (IANS/WAM) The UAE and Panama have signed an “open sky” agreement in the Panama City, allowing both sides to operate unlimited flights between the two countries.

The agreement was signed Tuesday by Saif Mohammed Al-Suwaidi, director general of UAE’s General Civil Aviation Authority (GCAA) and Rafael Barcenas, director general of Panama’s Civil … Read : UAE, Panama sign ‘open sky’ agreement.

Global food import bill may top $1 trillion in 2010

Rome, Nov 17 (IANS/AKI) The bill for international food imports could exceed $1 trillion this year amid a spike in most commodity prices, the UN said Wednesday.

Food prices could reach even higher levels in 2011, the agency warned.
Food import bills for the worlds poorest countries are predicted to rise 11 percent in …. Source article : Global food import bill may top $1 trillion in 2010.

Three bottles of Veuve Clicquot are world’s oldest champagne

LONDON – The champagne maker Veuve Clicquot has said that at least three bottles of its brand were found in a two-centuries old shipwreck in the Baltic Sea.

The divers who found the sunken vessel in July said the champagne is thought to be the world’s oldest drinkable bubbly, the Telegraph said Wednesday.
…. Original source : Three bottles of Veuve Clicquot are world’s oldest champagne.

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.

Sensex loses 571 points, slumps to two-month low (Weekly Market Review)

MUMBAI – A benchmark index of Indian equities markets slumped nearly three percent this week to hit a two-month low, on 2G spectrum allocation scandal and weak global cues.

The Bombay Stock Exchange (BSE) 30-share benchmark index ended the week at 19,585.44 points, down 2.84 percent or 571.45 points from the previous week.
…. Original article on Gaea Times at : Sensex loses 571 points, slumps to two-month low (Weekly Market Review).

Foundation stone for Kannur airport to be laid Dec 17

NEW DELHI/KANNUR – Kerala is to get its fourth international airport at Kannur, the foundation stone for which will be laid Dec 17, state Tourism and Home Minister Kodiyeri Balakrishnan said Saturday.

The foundation stone will be laid at Mattanur near Kannur town, Balakrishnan told reporters in New Delhi after meeting with Union Civil Aviation …. Original article on Gaea Times at : Foundation stone for Kannur airport to be laid Dec 17.

Indian American students develop new game application

WASHINGTON – Three Indian American students in California have developed a new game application for Apple called where users try to steer their lost rocket ship home using the gravity of planets.

Rahul Bhatia, Akshay Narayan and Rohan Agarwal, all aged 17, began with the idea of app in June and went over brainstorming ideas … Read the original article on Gaea Times at : Indian American students develop new game application.

50,000 Chhattisgarh steel workers face job loss

RAIPUR – About 50,000 workers employed with 175 mini steel plants in Chhattisgarh face a threat to their jobs as the factory owners have announced closure of their units amid rising prices of sponge iron used as raw material.

“The per tonne price of sponge iron has shot up from Rs.14,000-15,000 to Rs.18,000 and it … Read more >>>.

Guilty in 2G spectrum saga will be punished: PM

NEW DELHI – Refraining from any direct personal remarks on the 2G spectrum scam, Prime Minister Manmohan Singh Saturday said no one found guilty of wrong-doing will be spared, and urged all political parties to let parliament function and carry forward the due process.

We are ready to discuss all issues in parliament. We are … Original article on : Guilty in 2G spectrum saga will be punished: PM.

None found guilty will be spared: PM on 2G scam

NEW DELHI – In his first public remarks on the 2G spectrum scandal, Prime Minister Manmohan Singh Saturday said anyone found guilty of wrong-doing will be brought to book but urged political parties to let parliament function and carry forward the due process.

“There should not be any doubt in anybody’s mind if (there is) … Read : None found guilty will be spared: PM on 2G scam.

PM promises enabling environment for double-digit growth

NEW DELHI – Prime Minister Manmohan Singh Saturday promised an environment that will help India attain a nine percent growth next year, expanding further to double-digit levels in the medium term, but said challenges too needed to be addressed.

“We were among the few countries that recovered quickly from the after-effects of the global economic … Read the original article on Gaea Times at : PM promises enabling environment for double-digit growth.

India will grow at 8.5 pc now, 9 pc next year: PM

NEW DELHI – Prime Minister Manmohan Singh Saturday said India braved the worst global slowdown in decades better than most economies and would grow at 8.5 percent this fiscal and 9 percent next year.

“We were among the few countries that recovered quickly from the after-effects of the global economic crisis,” the prime minister told …. Source article on Gaea Times at : India will grow at 8.5 pc now, 9 pc next year: PM.

These are testing times: PM

NEW DELHI – Besieged by a host of scams rocking the government, Prime Minister Manmohan Singh Saturday said India was going through testing times and that he often felt like a “high school student” going from one test to another.

“It is often said that these are testing times. In fact, I cannot help feeling …. Source article on Gaea Times at : These are testing times: PM.

Indians think economic conditions improving: Gallup poll

WASHINGTON – Indians’ economic optimism rose significantly in 2010 after tumbling amid the global recession with nearly half of them thinking their local economic conditions are improving, according to a new poll.

However, perceptions of job availability remain stagnant, particularly in India’s less developed regions, a poll by Gallup, leading US public opinion survey …. Read the original article : Indians think economic conditions improving: Gallup poll.

Blackberry confident India’s concerns will be resolved

NEW DELHI – Canada-based Blackberry maker, Research in Motion (RIM) Friday said that it is confident that the security concerns of the Indian government will be resolved to their mutual satisfaction.

“Our ongoing discussions with the government of India continue to be very positive and progressive, and we are confident that any outstanding concerns … Original article on : Blackberry confident India’s concerns will be resolved.

DDA to allot over 16,000 flats

NEW DELHI – The Delhi Development Authority (DDA) will allot over 16,000 flats from Nov 25 under its 2010 housing scheme, it was announced here Friday.

The flats are located in different parts of Delhi in colonies like Vasant Kunj, Mukherjee Nagar, Motia Khan, Jasola, Dwarka, Rohini, Narela, Jaffarabad, Kaundli Gharoli.
“In order … Read this article on Gaea Times at : DDA to allot over 16,000 flats.

General Motors to launch six new vehicles in two years

KOLKATA – Buoyed by the strong growth in automobile industry across India, General Motors is set to expand its presence in the country and is planning to launch six new vehicles in the next two years, a senior company official said Friday.

“Indian automobile industry has recorded a 26 percent growth during the last financial … Read more >>.

Thousands stranded as Metro services to Gurgaon disrupted

NEW DELHI – Thousands of passengers on Delhi Metro’s Jehangirpuri-Gurgaon line were stranded Friday night as services were disrupted after a train got stuck at Udyog Bhavan station due to a technical snag, an official said. The fault was still to be rectified.

According to the Metro official: “The train going towards Gurgaon got stuck …. Original article : Thousands stranded as Metro services to Gurgaon disrupted.

President heads to Gulf, to launch helpline for Indian expats

NEW DELHI – India is set to boost its multi-faceted ties with the Gulf region when President Pratibha Patil goes Sunday to the United Arab Emirates, where she will launch a 24-hour helpline for its expatriate population, and also visit Syria.

The Gulf region is home to over 5 million-strong Indian diaspora.
In the …. Source : Gaea News Network.

New Ambassador variant to be unveiled in December

KOLKATA – The first prototype of a new variant of the Ambassador, the flagship car of the C.K. Birla group-owned Hindustan Motors, will be out by this December, a senior company official said

“Our promise to introduce a new variant of Ambassador is very much on track and its prototype will come out this December. …. Original source : New Ambassador variant to be unveiled in December.

Panel to clean up financial sector laws soon: Mukherjee

NEW DELHI – The government will soon set up a commission to rewrite and clean up financial sector laws, in a bid to make them more relevant to the changed economic scenario, Finance Minister Pranab Mukherjee said Friday.

“The government has decided to set up a financial sector legislative reforms commission (FSLRC) to rewrite and …. Source article on Gaea Times at : Panel to clean up financial sector laws soon: Mukherjee.

Spectrum sparks fly, opposition blocks parliament (Roundup)

NEW DELHI – The 2G spectrum saga crippled parliament for another day Friday as the opposition refused to give up its demand for a parliamentary probe into the scandal that has enveloped Prime Minister Manmohan Singh.

Feeling the Supreme Court heat on the handling of the issue by Manmohan Singh, the government decided that Attorney … Read more »»».

Tamil Nadu to have auto-sector specific policy soon

CHENNAI – Tamil Nadu will soon announce its automotive industry specific policy, a state government official said Friday.

“The proposed policy will address many of the issues faced by the sector like lack of skilled manpower,” Principal Secretary for Industries Rajeev Ranjan said in his address at Auto Serve 2010, a conference here on “Productivity …. Original article on Gaea Times at : Tamil Nadu to have auto-sector specific policy soon.

IndiGo to fly to Coimbatore from Nov 30

NEW DELHI – Terming Coimbatore in Tamil Nadu as a key market, low-cost airline IndiGo Friday said it will start flight services connecting the national capital as well as Chennai to the southern city from Nov 30.

“Expanding operations in south India is in line with our growth strategy in the Indian market, and Coimbatore … Read more >>>.

Foreign funds turn net sellers for first time in 25 weeks

MUMBAI – Foreign funds sold stocks worth $88 million this week, a first in about 25 weeks, sending strong signals of consolidation at Indian equities markets for the coming sessions.

While the flow of overseas money has swelled to record levels, recent weeks have also seen stocks tumble, soon after benchmark indices soared to their … Read more : Foreign funds turn net sellers for first time in 25 weeks.

Jharkhand asks coal firms to cough up taxes

RANCHI – The Jharkhand government has asked three subsidiaries of state-run Coal India Limited (CIL) to pay taxes for unauthorised mining on state land, an official said Sunday.

Jharkhand Land and Revenue Minister Mahtura Mahto met officials of Central Coalfield Limited (CCL), Bharat Coking Coal Limited (BCCL) and Eastern Coalfields Limited (ECL) Saturday in Ranchi.
… Read this article on Gaea Times at : Jharkhand asks coal firms to cough up taxes.

Property prices to drop 20 percent in China

BEIJING – Property prices in China are likely to drop by almost 20 percent starting March due to a slew of cooling measures adopted by the government on the real estate market, a report said.

The cooling measures, which led to financial difficulties of the developers, and monetary policy adjustment, will drag down property … Read the original article on Gaea Times at : Property prices to drop 20 percent in China.

Anand automotive group looks to double retail revenue

CHENNAI – The Rs.4,200 crore automotive component group Anand is planning to double its retail sales to Rs.700 crores within two years, a company official said.

“It is part of overall group strategy of doubling the turnover, investing Rs.1,400 crore. We will grow both organically and inorganically to add more products so that the after … Read more >>.

Indian, Pakistani traders want less restrictions

NEW DELHI – Indian and Pakistani businessmen at the 30th India International Trade Fair (IITF) want more access to each other’s markets and removal of various barriers to further trade and good relations between the two neighbours.

Pakistan pavilion director Mazhar Mufti, who is also assistant secretary of the Federation of Pakistan Chambers of Commerce … Read more »».

Post-Obama, India may get best of US technologies

NEW DELHI – The goodwill generated by President Barack Obama’s recent visit to India may lead to this country getting some of the best US defence and other technologies, says Vivek Lall, chairman of the Indo-US Strategic Dialogue in the Indo-American Chamber of Commerce.

The US-educated Lall, who is also Boeing India’s vice president … Read : Post-Obama, India may get best of US technologies.

Shale gas extraction is fraught with problems

BANGALORE – “We are trying to usher in a shale gas era”, Petroleum Minister Murli Deora exulted after signing an agreement with the United States for shale gas exploration during President Barack Obama’s visit early this month. But if the current controversy in the US is any indication, recovery of shale gas from the bowels … Read : Shale gas extraction is fraught with problems.

Nearly 50,000 Chhattisgarh steel workers face job loss

RAIPUR – About 50,000 workers employed with 175 mini steel plants in Chhattisgarh face a threat of job loss as factory owners have announced closure of their units in the wake of rising prices of sponge iron used as raw material.

“The per tonne price of sponge iron has shot up from Rs.14,000-15,000 to …. Source : Nearly 50,000 Chhattisgarh steel workers face job loss.

Himachal to set up 10 new industrial estates

SHIMLA – The Himachal Pradesh government would soon establish 10 new industrial estates across the state to promote industrialisation, Industry Minister Kishan Kapoor said Saturday.

“All the upcoming industrial areas would be equipped with state-of-the-art infrastructure with an outlay of Rs.3,000 crore,” Kapoor said while speaking at the India International Trade Fair – 2010 in …. Source : Himachal to set up 10 new industrial estates.

Industrial redevelopment: Delhi government blames MCD, DDA for delay

NEW DELHI – The Delhi government Saturday blamed the Municipal Corporation of Delhi (MCD) and Delhi Development Authority (DDA) for delay in implementation of its redevelopment plan for the city’s industrial areas.

The national capital recently got its own industrial act, providing the government a mechanism to ensure maintenance and development of the city’s industrial …. Source : Industrial redevelopment: Delhi government blames MCD, DDA for delay.

Linking my 2006 letter with current scenario wrong: Maran

CHENNAI – Union Textiles Minister Dayanidhi Maran Saturday said the media is mistakenly linking his 2006 letter to Prime Minister Manmohan Singh on the process of spectrum allocation with the current scenario.

He also gave a clean chit to Manmohan Singh, saying he is “a bold and honest leader.”
Speaking to reporters here after … Read more >>>.

Tata Teleservices ”fish finder’ plan to cover coastal India

AHMEDABAD – Tata Teleservices Limited (TTL) is planning to commercially launch and expand its “fish finder” project across coastal India early 2011 to help low-end fishermen in coastal areas.

Initially launched as a community service pilot project, it involves the use of mobile phones to home in on fish-rich areas in the sea to help …. Source article on Gaea Times at : Tata Teleservices ‘ ‘fish finder’ plan to cover coastal India.

Probe ordered into disruption of Delhi Metro services

NEW DELHI – The Delhi Metro Saturday instituted an inquiry into the electrical fault in a coach which led to the stalling of services on the busy Jahangirpuri-Gurgaon stretch Friday evening, leaving thousands of commuters stranded. Full services only resumed Saturday morning.

A Delhi Metro Rail Corporation (DMRC) spokesperson said managing director E. Sreedharan appointed … Read more : Probe ordered into disruption of Delhi Metro services.

Gorge on chicken kebabs, biryani at trade fair’s Pakistan pavilion

NEW DELHI – Come Sunday and Delhiites would finally be savouring piping hot biryanis and melt-in-the-mouth murgh malai tikkas as famous Pakistani restaurateur Shahid Bundu Khan is all set to start operating his food stall at the India International Trade Fair.

“My stall would start operating from tomorrow (Sunday) morning and I am looking forward …. Source article : Gorge on chicken kebabs, biryani at trade fair’s Pakistan pavilion.

Gujarat to set up textile parks for cotton

AHMEDABAD – The Gujarat government is planning to set up separate industrial parks for spinning cotton, state industries minister Saurabh Patel said Saturday.

He was speaking here at a seminar on the current status and scope of future development and investment opportunities in the technical textile sector in Gujarat.
The seminar was organised by … Read more : Gujarat to set up textile parks for cotton.

India needs new Look-West policy: Vice President

NEW DELHI – Vice President Hamid Ansari Saturday called for the adoption of a new Look-West policy aimed at the Gulf and West Asia that can secure the country’s economic, strategic and cultural interests in the region, which has a huge non-immigrant population of over six million Indian workers.

“For us in India, a …. Read the original article : India needs new Look-West policy: Vice President.