Business News – Newsletter for November 23, 2010

Torch 9800 most satisfying smart phone from BlackBerry

TORONTO – The sales of the BlackBerry Torch 9800, which were initially hit by its high price, have picked up after reduction in its price by half early this month.

With AT&T reducing the Torch 9800 price from $199 to $99 two weeks ago, the sales of the latest BlackBerry smart phone have zoomed in … Read more >>.

Ambassador Car To Get A New Look

KOLKATA, INDIA (GaeaTimes.com)- The iconic Ambassador car made by the Kolkata based Indian automobile manufacturer Hindustan Motors is all set to get revamped, the company officials revealed recently. The car maker is gearing up to give a new look to the car in collaboration with design firm Ohio Design which is based in Pune … Read more >>>.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on November 23, 2010 are:

Amount (face value in ` crore)                           

Item

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

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

For business, VAT 69 bottle gets new curves!

CHANDIGARH – It’s the old VAT 69 in a new bottle. The premium drinks brand has got into a new shape – with more curves – to take on others in the Scotch whisky business even as it relives its historical charm.

For the VAT 69 of the 21st century, the old world charm of … Original source on Gaea Times at : For business, VAT 69 bottle gets new curves!.

Few handmade quilts sell in Shillong, ‘dhunuris’ feel chill

SHILLONG – The twangs of the ‘dhanush’ fill the air as winter arrives. The tool is used by expert hands, called ‘dhunuris’, to fluff up cotton for quilts and pillows. But the cotton carders, mostly from Bihar, who have descended on the city, say business is poor this time.

Lighter, washable blankets and …. Original article on Gaea Times at  : Few handmade quilts sell in Shillong, ‘dhunuris’ feel chill.

Mahindra to take over Ssangyong

SEOUL – South Korean carmaker Ssangyong Motor Co. said Tuesday it signed a 522.5-billion-won ($464-million) takeover deal with India’s Mahindra & Mahindra Ltd.

Ssangyong, South Korea’s smallest carmaker, is to sell a majority stake to the Indian utility vehicle maker nearly two years after it filed for bankruptcy. The deal will bring Mahindra’s stake in … Original source on Gaea Times at : Mahindra to take over Ssangyong.

Sensex falls sharply in early trade

MUMBAI – A benchmark index of Indian equities Tuesday fell sharply soon after opening bell.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,841.42 points, was ruling at 19,762.4 points, down 195.43 points or 0.98 percent from its previous close at 19,957.59 points.
At the National Stock Exchange (NSE), [..] Read the original article: here.

Money Market Operations as on November 22, 2010

…. Read the original article  : Money Market Operations as on November 22, 2010.

Ireland’s PM to dissolve parliament in New Year

DUBLIN – Ireland’s Prime Minister Brian Cowen announced Monday that he would dissolve the Irish parliament in the New Year after December’s austerity budget has been enacted.

Cowen has said he will seek a dissolution of the Dail (the Irish parliament) after “the current budgetary process is complete”.
Speaking at government buildings, Cowen said it … Original source on Gaea Times at : Ireland’s PM to dissolve parliament in New Year.

US stocks fall as Ireland seeks bail-out

NEW YORK – US stocks fell and the dollar strengthened as Ireland sought outside help with its debt crisis, sparking fears that other eurozone countries might not be far behind.

Ireland formally asked for help Sunday and was in the process of negotiating terms this week with the European Union and International Monetary Fund. Irish …. Read the original article  : US stocks fall as Ireland seeks bail-out.

‘ULIPs have potential for life insurers despite curbs’

MUMBAI – Unit linked insurance policies (ULIPs) designed and sold under the new norms that came into effect Sep 1 have a great potential for life insurers, said experts participating in a panel discussion here Monday on “Future of ULIP”.

The panellists, however, were not unanimous on which segment of the market ULIPs were suitable …. Source  : Gaea News Network.

Emirates launches ‘Honeymoon package’

NEW DELHI – Emirates airline is launching special ‘Honeymoon packages’ from 10 Indian cities, including New Delhi, to Seychelles, beginning at Rs.59,935, the airline announced Monday as the wedding season begins in the country.

“Our packages are tailor-made to our customers’ needs, especially during the wedding season when honeymooners or vacationers experience luxury to the …. Source article  : Emirates launches ‘Honeymoon package’.

Public power transmission companies face losses: Shinde

NEW DELHI – Power Minister Sushil Kumar Shinde Monday said the aggregate losses of state-run transmission and distribution (T&D) companies for 2010-11 is expected to be Rs.68,643 crore.

As per the thirteenth finance commission report, the aggregate loss of state T&D utilities at 2008 tariff for 2010-11 has been projected as Rs.68,643 crore, said Shinde … Read : Public power transmission companies face losses: Shinde.

Dhumal lays foundation stone of marketing yard

SHIMLA – Himachal Pradesh Chief Minister Prem Kumar Dhumal Monday laid the foundation stone of the states biggest marketing yard in upper Shimla to help apple and other fruit growers sell their produce speedily.

It would be constructed within three years at a cost of Rs.100 crore at Parala in the heart of the apple … Read this article on Gaea Times at : Dhumal lays foundation stone of marketing yard.

Haryana to set up eco-city in Manesar

CHANDIGARH – Formulating a policy on climate change, the Haryana government has proposed to set up an eco-city at Manesar near Gurgaon.

We are also considering a proposal to set up a Climate Change Division in the Environment Department, Chhatar Singh, principal secretary to Haryana Chief Minister Bhupinder Singh Hooda, said Monday.
The eco-city project … Original article on : Haryana to set up eco-city in Manesar.

Knee-jerk reactions by insurance regulator pose challenge: Experts

MUMBAI – An insurance regulator who is on a learning curve and life insurance chief executives who do not understand the basic tenets of the business are some of the challenges faced by the Indian life insurance industry, according to experts here Monday.

“The Indian insurance regulator (Insurance Regulatory and Development Authority – IRDA) is …. Source  : Gaea News Network.

Trade fair: Delhi Metro ridership zooms

NEW DELHI – The Delhi Metro recorded a heavy rush of passengers at its Pragati Maidan station during the week, thanks to the India International Trade Fair (IITF), an official said Monday.

“Compared to last year, we have received a higher footfall during the trade fair,” Delhi Metro Rail Corporation (DMRC) spokesperson Anuj Dayal …. Source  : Gaea News Network.

LNG terminal capacity to be doubled at Kochi: Petroleum Secretary

KOCHI – Union Petroleum Secretary S. Sundareshan has revealed that the terminal capacity of Liquefied Natural Gas (LNG) would be doubled at Kochi.

He also said the meeting of board of directors of Petronet LNG has decided to increase the existing capacity from 2.5 million tonnes to [..] Read the original article: here.

Organic farming meet to be held in Gujarat

VADODARA – Organic farmers from all over India will converge in Anand district of Gujarat next month for a convention, an official said Monday.

With a theme of ‘cool farming for a hot planet’, the convention will discuss how organic farming can help fight climate change, director of Organic Farming Association of India (OFAI) Dr. …. Source article  : Organic farming meet to be held in Gujarat.

Mahindra Satyam appoints three executives for Americas

MUMBAI – Mahindra Satyam, which was delisted from the New York Stock Exchange in September, said Monday it has appointed three new executives for its Americas operations with a view to restructuring business in that region.

Lakshmanan Chidambaram, who recently joined Mahindra Satyam from Syntel Inc, will head the banking and financial services, manufacturing, … Read more : Mahindra Satyam appoints three executives for Americas.