Business News – Newsletter for November 28, 2010

Best Buy Cyber Monday Deals Revealed

SAN FRANCISCO (GaeaTimes.com)- Never mind if Black Friday is gone, the shoppers are yet to get over the shopping frenzy in U.S.! The Cyber Monday is just a day ahead and those who missed Black Friday shopping opportunities are looking forward to the next shopping extravaganza. The Cyber Monday deals are beneficial for those … Original source on Gaea Times at : Best Buy Cyber Monday Deals Revealed.

Manufacturing sector improved April-September: Survey

NEW DELHI – India’s manufacturing sector improved its performance in April-September 2010 compared to the corresponding period in the previous year, says a Confederation of Indian Industry (CII) study.

“The manufacturing sector has seen a diverse performance during the first half. Some sectors have recovered sharply to grow at over 20 percent while some …. Read the original article  : Manufacturing sector improved April-September: Survey.

Dhumal’s chopper to serve snowbound areas

SHIMLA – Himachal Pradesh Chief Minister Prem Kumar Dhumal will travel by road for most of his official engagements as his chopper will be deployed for people living in snowbound areas during winter – a measure to cut flying costs.

Dhumal has decided to ground his flying plans so that the 26-seater chopper can be …. Source article on Gaea Times at  : Dhumal’s chopper to serve snowbound areas.

Cyber Monday Deals From Walmart

SAN FRANCISCO (GaeaTimes.com)- The shoppers who were previously counting on upcoming Cyber Monday to buy their dream gadget or appliance should be happy to know that there is a great opportunity waiting for them. Walmart, the famous US retail giant is offering not a single day but an entire week of sales. The … Original source on Gaea Times at : Cyber Monday Deals From Walmart.

BMW India’s record sales in October

KOLKATA – BMW India, a subsidiary of German luxury car maker BMW, has sold a record 753 cars in October, the company president said here Saturday.

“Last month (October) we had a highest sale of 753 cars which is a record in itself,” BMW India president Andreas Schaaf told media persons on the sidelines of … Read this article on Gaea Times at : BMW India’s record sales in October.

UAE’s Etisalat chairman named World CEO of 2010

Abu Dhabi, Nov 27 (IANS/WAM) Mohammed Omran, the CEO of UAE’s telecommunication service provider Etisalat, has been named the World CEO of 2010 at a ceremony in Britain, it was announced Saturday.

He was honoured at the World Communication Awards ceremony in recognition of his outstanding work in the sector.
Etisalat has …. Original source  : UAE’s Etisalat chairman named World CEO of 2010.

IFRS will boost investors’ confidence: Mukherjee

KOCHI – The use of globally accepted accounting framework, International Financial Reporting Standards (IFRS), will boost investors’ confidence in Indian markets, Finance Minister Pranab Mukherjee said Saturday.

“India, as a member country of G20, is committed to achieving a single set of high quality global accounting standards. The use of globally acceptable accounting framework helps … Original source on Gaea Times at : IFRS will boost investors’ confidence: Mukherjee.

Mughal road to be ready by September 2011

JAMMU – The Mughal road that connects Kashmir Valley to the hilly and border belt of Jammu region will be ready by September 2011.

The road was scheduled to open in June this year but the unrest in Kashmir made the migrant labourers flee the area. Also, a prolonged spell of rains triggered landslides …. Source  : Mughal road to be ready by September 2011.

Honegg to replace Aulbur as Mercedes’ India chief

NEW DELHI – German luxury automobile manufacturer Mercedes-Benz’s Indian subsidiary Saturday said that Peter T. Honegg will succeed Dr. Wilfried Aulbur as the new manging director and chief executive in the first quarter of 2011.

“Mr. Peter T. Honegg will succeed Dr. Wilfried Aulbur as the new MD and CEO of Mercedes-Benz India. Honegg is … Read more : Honegg to replace Aulbur as Mercedes’ India chief.

India-China trade to cross $120 billion by 2012

MUMBAI – India’s bilateral trade with China is likely to cross $120 billion by 2012 on the back of robust economic growth in both the countries, a Chinese diplomat said Saturday.

“Our bilateral trade for the first 9 months of this year was $45.4 billion, $2.2 billion more than the whole volume of last …. Source  : India-China trade to cross $120 billion by 2012.

Pantaloons to open 50 new stores within 2-3 years

NEW DELHI – Leading fashion retailer Pantaloons Saturday said that it plans to open 50 new stores in the country within the next two to three years.

We will open another 50 stores in the coming 2 to 3 years,” the firm’s director and chief executive Rakesh Biyani told reporters at the opening of the …. Source article on Gaea Times at  : Pantaloons to open 50 new stores within 2-3 years.

Book the guilty in 2G spectrum scam: Ratan Tata

NEW DELHI – Tata Group chairman Ratan Tata has urged the Indian government to investigate and book the people who are guilty in the 2G spectrum scam.

“I wish the government would take a stand, bring an auditor in the thing, have an investigation, book people who are guilty,” said Tata in an interview … Read the original article on Gaea Times at : Book the guilty in 2G spectrum scam: Ratan Tata.

India’s forex reserves fall further by $330 million

MUMBAI – India’s foreign exchange (forex) reserves declined by $330 million, sliding to $297.98 billion during the week ended Nov 19, for the second consecutive week on sharp decline in foreign currency reserves.

The forex reserves had declined by $1.899 billion during the week ended Nov 12.
Foreign currency reserves, that …. Original article  : India’s forex reserves fall further by $330 million.

Now women find it easy on Delhi Metro

NEW DELHI – Two days after police in Delhi and Haryana thrashed men packing Delhi Metro’s women’s only coaches, women passengers said Saturday the situation had dramatically improved.

While some men were still seen in the train’s first coaches that are reserved for women, most chose to stay away — clearly fearing yet another police …. Original article on Gaea Times at  : Now women find it easy on Delhi Metro.

India ranks sixth in nuclear power generation

BANGALORE – India ranked sixth in the world’s elite nuclear club, with its 20th nuclear-powered reactor at Kaiga in Karnataka achieving criticality Saturday, a senior official said.

“India is elevated to the sixth rank in an elite club of nations, after the US, France, Japan, Russia and Korea to have 20 or more nuclear reactors … Read this article on Gaea Times at : India ranks sixth in nuclear power generation.

Sensex continues to bleed on loan scandal (Weekly Market Review)

MUMBAI – A benchmark index of Indian equities markets shed 449 points this week, taking the last three weeks’ loss to 1,868 points as 2G spectrum allocation scan and housing loan bribery scandal dampened sentiments and weighed heavy on the markets.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) declined 2.29 …. Original source  : Sensex continues to bleed on loan scandal (Weekly Market Review).

Samsung urged to invest in photo-voltaic cell facility in Tamil Nadu

CHENNAI – Tamil Nadu Deputy Chief Minister M.K. Stalin has invited South Korean electronics giant Samsung to invest in a facility to produce solar photo-voltaic (PV) cells in the state.

Inaugurating Samsung India Electronics’ $75 million refrigerator plant (1.2 million units per annum capacity) at Sriperumbudur – around 50 km from here – Saturday, Stalin …. Source article on Gaea Times at  : Samsung urged to invest in photo-voltaic cell facility in Tamil Nadu.

People throng food courts at Delhi’s Trade Fair

NEW DELHI – People thronged the India International Trade Fair (IITF) food courts to enjoy different delicacies from various provinces of the country in New Delhi.

Cuisines like Rajasthani, Gujarati, Kashmiri, and Indo-Chinese among others were available at the food courts that were crowded with visitors.

“Varieties like Chinese and Indian …. Source article on Gaea Times at  : People throng food courts at Delhi’s Trade Fair.

Two more test driving tracks in Bangalore soon

NEW DELHI – The Karnataka government will soon build two more electronic driving tracks in Bangalore for skill tests and issuing licenses to ensure safe driving, a senior official said Friday.

We will soon build two more driving tracks in the northern and eastern suburbs of the city for testing a learner’s driving skills and …. Source  : Gaea News Network.

Jindal steel plant in Orissa gets green notice

NEW DELHI – The environment ministry Friday issued a show cause notice for revoking environment clearance to Jindal steel and power plant in Angul in Orissa for violating green laws.

The ministry issued the notice under Section 5 of the Environment (Protection) Act, 1986, for revocation of environmental clearance in view of Jindal not obeying … Read more »»».