Business News – Weekly Newsletter for November 22-29, 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.

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.

Reformed sales tax bill tabled in Pakistan Senate

ISLAMABAD – Despite stiff opposition from allied parties and the opposition, the Pakistan government Tuesday tabled the reformed general sales tax (GST) bill in the Senate after it was approved by the standing committee on finance.

Addressing the upper house of the parliament, Finance Minister Abdul Hafeez Shaikh said the reformed GST needs to be …. Source  : Gaea News Network.

Three guest houses sealed in Paharganj

NEW DELHI – The Municipal Corporation of Delhi (MCD) sealed three guest houses in Paharganj area of Delhi Tuesday for non-payment of taxes, an official said.

MCD had sent notices to these establishments Nov 18 and asked them to pay a conversion tax as they were located in residential areas.
“Action will be taken on …. Original article on Gaea Times at  : Three guest houses sealed in Paharganj.

Coal India’s net profit rises 29 percent

KOLKATA – World’s largest coal miner, Coal India’s (CIL) net profit rose by 29.06 percent to Rs.4,020 crore in the first half of the current fiscal (2010-11) over the corresponding period last year.

Releasing the April-September 2010 results of the company, CIL chairman Partha Bhattacharyya said it had recorded a net profit of Rs.3,115.02 … Original source on Gaea Times at : Coal India’s net profit rises 29 percent.

MCD not to courier birth, death certificates

NEW DELHI – To check fraud, the Municipal Corporation of Delhi (MCD) will no longer courier birth and death certificates to online applicants, officials said Tuesday.

The applicants can now get the certificates only at the concerned hospitals or zonal offices.
The civic body health department officials, who provide online services for registering births and …. Read the original article  : here.

‘Due diligence must before investing in global property markets’

MUMBAI – International law firm Holman Fenwick Willan (HFW) Tuesday advised Indian investors to exercise due diligence for ensuring trouble-free investments in international property markets.

Since the quantity of investments in this sector is high, it is imperative for investors to carry out due diligence, HFW partner Christian Taylor said.
Speaking at a two-day international … Read more : ‘Due diligence must before investing in global property markets’.

Gujarat will power India’s development: Narendra Modi

NEW DELHI – Gujarat Chief Minister Narendra Modi made a persuasive pitch to the global business community to consider his state for investment, saying his state’s rapid growth will help in securing a position for India among the developed nations.

“Gujarat is now moving towards securing a position for India among the developed nations … Read more »»».

Jet Airways reports rise in number of flyers

MUMBAI – Private air carrier Jet Airways reported an 18.1 percent rise in its international passenger numbers for the month of October, a statement said Tuesday.

“Strategic code-shares and innovative marketing have given us the required impetus that has helped stay ahead of the industry growth curve,” Jet Airways chief executive officer Nikos Kardassis … Read : Jet Airways reports rise in number of flyers.

Kingfisher Airlines, American Airlines to share codes

MUMBAI – Kingfisher Airlines Tuesday said it will enter into code-sharing and frequent flyer programme with American Airlines in 2011, after the receipt of regulatory approvals.

“The code share on Americans flight to Chicago will mark the first time ever that Kingfisher Airlines will place its code on any flight operating into the United …. Read the original article  : here.

Maharashtra builders seek to rectify anomalies in rules

MUMBAI – Builders in Maharashtra Tuesday asked the state government to remove discrepancies in the Development Control Regulations and ensure that flats were sold based on the carpet area norm.

In a memorandum addressed to Chief Minister Prithviraj Chavan and other concerned departments, the Maharashtra Chamber of Housing Industry (MCHI) said builders were willing to … Read more : Maharashtra builders seek to rectify anomalies in rules.

Financial oversight body by December: Minister

NEW DELHI – Financial Stability Development Council (FSDC), India’s apex-level body for the financial sector, is expected to come into force by December, Minister of State for Finance Namo Narain Meena said Tuesday.

“The Ministry of Finance has consulted all the financial sector regulators on the formation of the council,” Meena said in a written …. Source article on Gaea Times at  : Financial oversight body by December: Minister.

Second 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 
… Read more >>.

BCCL, HEC tie up for modern coal washery

KOLKATA – The Bharat Coking Coal Limited, a subsidiary of the countrys largest miner Coal India, has tied up with a consortium led by the Heavy Engineering Corporation (HEC) for setting up a modern five million tonne coking coal washery at Madhubani in Bihar.

It will be a state-of-the-art kind of washery. The HEC is …. Original article on Gaea Times at  : BCCL, HEC tie up for modern coal washery.

Sensex cuts losses, closes 266 points lower (Roundup)

MUMBAI – A benchmark index of Indian equities market, which plummeted over 600 points in afternoon trade Tuesday, managed to cut its losses and closed 266 points down.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,841.42 points, closed at 19,691.84 points, down 265.75 points or 1.33 percent, from … Read more >>.

Souza’s tribute to Tagore highlight of Indian auction

NEW DELHI – Encouraged by the recovery of the art market after a slowdown of 30 months, a leading Bangalore-based auction house has lined up rare art works of Indian modern and contemporary artists like Raja Ravi Varma, Rabindranath Tagore, Nikolai Roerich, M.F. Husain, Jamini Roy and F.N. Souza for an auction here Nov 30.

…. Original source  : Souza’s tribute to Tagore highlight of Indian auction.

Results of Auctions of 10-year State Development Loans, 2020 of Four State Governments

The Results of the auctions of 10-year State Development Loans, 2020 for Four State Governments held on November 23, 2010.

(` in crore)    

Andhra Pradesh

Gujarat

Rajasthan

Tamil Nadu

Total

Notified Amount

1,000.000

1,000.000

500.000

500.000

3,000.000

Underwriting Notified Amount

Nil

Nil

Nil

Nil

Nil

Competitive Bids Received
(i) …. Original source  : Results of Auctions of 10-year State Development Loans, 2020 of Four State Governments.

Narendra Modi makes strong pitch for ‘Vibrant Gujarat’

NEW DELHI – Gujarat Chief Minister Narendra Modi made a strong pitch to the global business community to consider his state for investment at the upcoming summit in Gandhinagar, riding on accords worth $240 billion signed at its previous edition in 2009.

“Gujarat is now moving towards securing a position for India among the developed …. Source  : Narendra Modi makes strong pitch for ‘Vibrant Gujarat’.

RBI releases Report of the Working Group on BoP Manual for India

The Reserve Bank of India, today released the report of the Working Group on India’s balance of payments statistics and the revised BoP manual for India (rbi.org.in/scripts/PublicationReportDetails.aspx?UrlPage=&ID=596) .

The Report has two parts. Part I discusses various issues relating to India’s Balance of Payments statistics and makes a number of suggestions … Read more »».

Sensex cuts losses, closes 298 points lower (Third Lead)

MUMBAI – A benchmark index of Indian equities market, which plummeted over 600 points in afternoon trade Tuesday, managed to cut its losses and closed 298 points down.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,841.42 points, closed at 19,659.77 points, down 297.82 points or 1.46 percent, from …. Original article on Gaea Times at  : Sensex cuts losses, closes 298 points lower (Third Lead).

Now, electricity sub-stations that work through remote!

ROHTAK – A power distribution agency in Haryana has started a unique experiment – running two 33 KV power sub-stations through remote control.

The Uttar Haryana Bijli Vitran Nigam (UHBVN) has energized two unmanned 33 KV sub-stations in this Haryana town, 270 km from Chandigarh.
DHBVN officials said the second of this kind of unmanned …. Source article on Gaea Times at  : Now, electricity sub-stations that work through remote!.

China denies copying high-speed rail technology

BEIJING – A Chinese official has denied that China’s high-speed rail technology has been plagiarised, saying it has developed it on its own.

Tian Lipu, director of the State Intellectual Property Office, told the People’s Daily in an interview published Tuesday that China can now build high-speed railway in the mountains.
The construction of … Read more »».

Video game legend Mario turns turns 25

NEW YORK – Legendary video game character Mario is more than just a form of entertainment. Twenty-five years after the debut of the game Super Mario Bros, its creator says the little Italian plumber also plays an important role as a cultural ambassador.

Mario and his brother Luigi in their instantly recognisable red and green …. Original article on Gaea Times at  : Video game legend Mario turns turns 25.

Sensex up 115 points in early trade

MUMBAI – A benchmark index of Indian equities Thursday was trading about 115 points higher in early trade.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,560.25 points, was ruling at 19,575.41 points, up 115.56 points or 0.59 percent from its previous close at 19,459.85 points.
At the National … Read the original article on Gaea Times at : Sensex up 115 points in early trade.

Money Market Operations as on November 24, 2010

… Read more : Money Market Operations as on November 24, 2010.

US stocks surge on improving job indicators

NEW YORK – US stocks jumped Wednesday on some hopeful signs that the country’s struggling labour market may be improving.

Weekly claims for unemployment benefits fell to their lowest level since 2008. Indicators that showed a rise in household spending and consumer confidence also helped rally investors.
The blue-chip Dow Jones Industrial Average surged 150.91 … Read more >>>.

Paharpur Cooling to expand real estate business

KOLKATA – Kolkata-based Paharpur Cooling Towers Limited, with a turnover exceeding Rs.1,000 crore, has formed a special purpose vehicle (SPV) with a Mauritius-based private equity fund Pragnya Fund-I to execute real estate projects.

The SPV Paharpur Pragnya Realty Private Limited is executing two real estate projects in West Bengal’s Barrackpore and Asansol, besides a project … Original article on : Paharpur Cooling to expand real estate business.

Indane directs LPG distributors to work all days

CHANDIGARH – Faced with a big backlog in supply of LPG cylinders in Punjab, Indian Oil Corporation, which supplies cylinders under the brand name Indane, has asked its distributors across the state to remain open even on Sundays and holidays to clear the backlog.

The move by Indane to clear the shortage in supply of …. Original source  : Indane directs LPG distributors to work all days.

CeMAT India to be held in Mumbai Dec 15-18

KOLKATA – CeMAT India, the international trade fair for materials handling and logistics, will be held in Mumbai Dec 15-18.

“Over 350 participants, including 35 percent from foreign countries, have given their confirmation for the event,” said Sudhir Patil, managing director of Hannover Milanio Fairs India Private Limited, the organisers of the fair.
… Read more : CeMAT India to be held in Mumbai Dec 15-18.

All-India mobike expedition to promote safe riding

MANALI – Twenty motorcyclists from four cities, jointly covering a distance of 24,000 km over the next 30 days, hope to promote safe riding practices in India, an official said here Wednesday.

Organised by automotive group Mahindra and Mahindra, the first batch of five riders were flagged off from Manali town of Himachal Pradesh Wednesday.
…. Source  : Gaea News Network.

Trade diplomacy: India presses Pakistan for MFN status

NEW DELHI – Even as ties between India and Pakistan remain frosty, India Wednesday told a visiting 12-member Pakistani trade delegation that Islamabad should grant New Delhi Most Favoured Nation (MFN) status and called for a five-fold increase in bilateral trade.

Foreign Secretary Nirupama Rao said India hoped that the Pakistan government would implement … Original source on Gaea Times at : Trade diplomacy: India presses Pakistan for MFN status.

Haryana to get Mobile Number Portability

CHANDIGARH – Mobile phone subscribers in Haryana will be the first in the country to be able to retain their mobile numbers even after shifting to another service provider as Mobile Number Portability (MNP) service will be launched in the state Thursday.

The service will be launched in Haryana’s Rohtak district by Chief Minister Bhupinder … Original source on Gaea Times at : Haryana to get Mobile Number Portability.

Pakistani business delegation for boosting trade with India

NEW DELHI – Even as ties between India and Pakistan remain frosty and dialogue suspended in the wake of the Mumbai carnage nearly two years ago, a 12-member Pakistani trade delegation Wednesday urged New Delhi to remove barriers to spur greater trade between the two countries.

The visiting delegation, led by Sultan Ahmed Chawla, …. Original article on Gaea Times at  : Pakistani business delegation for boosting trade with India.

Mirah group acquires one-third stake in Mad over Donuts

MUMBAI – Indian restaurant chain Mirah group has acquired a 33.3 percent stake in Singapore-based donut chain Mad Over Donuts for an undisclosed amount.

A unique donut concept, Mad over Donuts was launched in 2008 and has successfully expanded to 18 outlets in India, mainly spread in Mumbai, Delhi and the national capital region … Original article on : Mirah group acquires one-third stake in Mad over Donuts.

Top bank officers nabbed for housing finance scam

MUMBAI/NEW DELHI – Top officers of some state-run banks and financial institutions were arrested by India’s federal probe agency Wednesday for allegedly accepting bribes to extend loans to corporate houses in a housing finance scam.

“In today’s raids, we have seized incriminating documents and those documents would now be further scrutinised. Meanwhile, we have registered … Original source on Gaea Times at : Top bank officers nabbed for housing finance scam.

Second Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on November 24, 2010 are:

Amount  (face value in ` crore)                   

Item

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

1 day Repo Auction 
…. Read the original article  : Second Liquidity Adjustment Facility : Auction Results.

Monaco promotes itself as destination for upper middle-class India

NEW DELHI – The European principality of Monaco, known as the playground of the rich and the famous, is promoting itself as a high-end tourism destination for the double-income upper middle class business and leisure tourists.

The world’s second smallest country – synonymous with the Monte Carlo Formula One Grand Prix, jazz festivals, luxury …. Source  : Gaea News Network.

Jairam not to block BALCO’s Chhattisgarh project

NEW DELHI – Environment Minister Jairam Ramesh Wednesday said there was no proposal to ban public sector firm Bharat Aluminium Company Ltd’s (BALCO) bauxite mining projects in Chhattisgarh.

“The environment ministry has accorded environmental and forest clearance to the two bauxite mining projects,” the minister told Lok Sabha.
The environmental clearances have been granted after …. Read the original article  : Jairam not to block BALCO’s Chhattisgarh project.

Punj Lloyd bags three contracts worth Rs.1,595 cr

NEW DELHI – Engineering and construction firm Punj Lloyd Wednesday said it has bagged three new contracts worth Rs.1,595 crore for development of oil refinery and infrastructure projects.

The biggest contract is from Indian Oil Corporation worth Rs.1,123 crore for development of the Paradip refinery project in Orissa.
The scope of work includes …. Source  : Punj Lloyd bags three contracts worth Rs.1,595 cr.

Housing scam pulls down Sensex (Roundup)

MUMBAI – A benchmark index of Indian equities closed a volatile trading day Wednesday 231 points lower as reports of a housing scam involving major housing finance institutions and banks led to heavy selling in banking and realty scrips.

Global cues were also sombre a day after the conflict between the two Koreas and unease …. Original article  : Housing scam pulls down Sensex (Roundup).

ADB signs JV to develop renewable energy in India

NEW DELHI – The Asian Development Bank (ADB) today signed a joint venture agreement with India’s NTPC Ltd. and Kyushu Electric Power Company of Japan to develop and operate 500 megawatts of renewable energy projects in India in the next three years.

India is the third largest …. Original article on Gaea Times at  : ADB signs JV to develop renewable energy in India.

Idea hopes to draw numbers from portability regime

NEW DELHI – Telecom service provider Idea Cellular is confident of attracting a large number of users after the rollout of mobile number portability (MNP), an official said Wednesday.

“Our focus is to provide good network and customer services. Though we are not launching any new plan or tariff package, we are confident that large …. Read the original article  : here.

Plan panel to examine states’ complaints on Finance Commission

AGARTALA – The Planning Commission has constituted a high level committee to look into complaints that the 13th Finance Commission (2010-2015) has deprived many states like Tripura of its resources, a state minister said Friday.

“The 13th Finance Commission has deprived the special category states, including northeastern states, in recommending its awards and recommendations,” Tripura … Read : Plan panel to examine states’ complaints on Finance Commission.

Black Friday Sales Boosts Business

SAN FRANCISCO (GaeaTimes.com)- Black Friday sales follows the Thanksgiving Way. It marks the beginning of Christmas shopping season. Therefore, like every year, most of the retail stores have opened early to offer promotional sales and kick start the shopping season in full spirit. However, these days, the Black Friday Sales are not limited to …. Source  : Gaea News Network.

Target’s Awesome Gadget Deals

SAN FRANCISCO (GaeaTimes.com)- The Black Friday which is the unofficial beginning of the Holiday shopping season in USA has made the shoppers crazy this year since there are plenty of great offers waiting for them. Their excitement reached a crescendo ever since the big retailers like Walmart and Target published their ads for Thanksgiving [..] Read the original article: here.

Herbergers Offering Good Discounts

SAN FRANCISCO (GaeaTimes.com)- Herbergers, a leading retail and lifestyle store in the United States has started its Black Friday Deal. It was one of the first stores to be opened as early as 3:00 am, to offer the best buy to its customers. However, although the stores are getting flocked with several people in …. Source  : Gaea News Network.

Best Black Friday Deals Hunted By Shoppers

SAN FRANCISCO (GaeaTimes.com)- Black Friday is a shopping extravaganza the shoppers keep waiting for the entire year. This annual shopping event is an opportunity for the shoppers who want to buy their desired products at really low prices. This year the top retailers in USA are offering lucrative deals on a range of …. Original source  : Best Black Friday Deals Hunted By Shoppers.

Victoria Secret Black Friday Exciting Offer

SAN FRANCISCO (GaeaTimes.com)- Hurry all you ladies else you will miss out the exciting offers that the stores are ushering upon everyone on the eve of Black Friday. There is a great piece of news not only for the shopaholics but also for every single lady out here, who are otherwise not so keen to …. Source  : Gaea News Network.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.74 and the Reference Rate for Euro is ` 60.84 on November 26, 2010. The corresponding rates for the previous day (November 25, 2010) were ` 45.64 and ` 60.81 respectively. Based on the Reference Rate for …. Source article on Gaea Times at  : RBI Reference Rate for US $ and Euro.

World’s most expensive tequila bottle unveiled

MEXICO CITY – A distillery in Mexico has come up with the world’s most expensive bottle of tequila, covered with 4,000 diamonds and estimated at $3.5 million.

The bottle nicknamed “Diamond’s Law” by Hacienda La Capilla company was made by around 20 to 30 people, Fox News reported Friday.
The company had earlier sold a … Read more »»».

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on November 26, 2010 are:

Amount  (face value in ` crore)                     

Item

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

3 days Repo Auction 
…. Original article  : Liquidity Adjustment Facility : Auction Results.

Sensex gives up opening highs

MUMBAI – A benchmark index of Indian equities Friday slipped from its opening highs to rule about 202 points lower after about 90 minutes of beginning of trade.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,391.96 points, was ruling at 19,115.28 points, down 202.88 points or 1.05 percent …. Read the original article  : Sensex gives up opening highs.

Money Market Operations as on November 25, 2010

… Read more >>.

Tokyo stocks edge up on weaker yen

TOKYO – Japanese shares inched higher in Friday morning trading as some export-oriented issues were boosted by a weaker yen.

The benchmark Nikkei 225 Stock Average gained 9.02 points, or 0.09 percent, to trade at 10,088.78. The broader Topix index was up 0.71 points, or 0.08 percent, at 870.52.
The Japanese currency fell against the …. Read the original article  : Tokyo stocks edge up on weaker yen.

Dubai Chamber of Commerce hosts Indian president

Dubai, Nov 25 (IANS/WAM) The Dubai Chamber of Commerce and Industry Thursday hosted a reception in honour of Indian President Pratibha Patil and her accompanying business delegation here at the Raffles Hotel.

Besides the Indian delegation, the business luncheon reception was attended by Maryam Khalfan Al Roumi, UAE minister of social affairs, officials and … Read the original article on Gaea Times at : Dubai Chamber of Commerce hosts Indian president.

Chhattisgarh to get 2,000 MW power from NTPC project

RAIPUR – Chhattisgarh signed a power purchase agreement Thursday with India’s largest power producer, the National Thermal Power Corporation (NTPC), to get 50 percent power from its upcoming 4,000 MW coal-fired power plant.

Chhattisgarh will get 2,000 MW at Rs.2.59 per unit from NTPC’s coal-fired project that will come up at Lara village in the … Read : Chhattisgarh to get 2,000 MW power from NTPC project.

Abu Dhabi gives $10 mn for Kenya road project

Abu Dhabi, Nov 25 (IANS/WAM) The Abu Dhabi Fund for Development (ADFD) will lend 37 million dirhams (about $10 million) for constructing a road in Kenya, it was announced Thursday.

The aim of this 135-km road project is to link the Garissa and Modogache cities in Kenya.
The road will connect Kenya to its …. Read the original article  : Abu Dhabi gives $10 mn for Kenya road project.

Jairam Ramesh now calls SUVs ’socially useless vehicles’

NEW DELHI – Days after he termed use of sports utility vehicles (SUVs) in India as criminal, Environment Minister Jairam Ramesh Thursday called them “socially useless vehicles”.

“I have got very critical reactions for my statement on SUVs. The Wall Street journal in an article today called me buffoon. I think SUVs are socially useless … Original source on Gaea Times at : Jairam Ramesh now calls SUVs ’socially useless vehicles’.

Export of natural resources a crime: Raman Singh

RAIPUR – Export of natural resources is a crime and should be banned as early as possible, Raman Singh, chief minister of Chhattisgarh – one of India’s most mineral-rich states – said Thursday.

“Exporting natural resources outside the country comes under category of a national crime and it should be banned,” an official press statement …. Original article  : Export of natural resources a crime: Raman Singh.

India, US to sign aviation safety agreement

NEW DELHI – The country’s aerospace segment is poised to grow with India and the US set to sign the Bilateral Aviation Safety Agreement (BASA) that would usher in mutual acceptance of aeronautical products and parts developed in either country, the Directorate General of Civil Aviation (DGCA) Thursday said.

“The agreement would be signed within … Original source on Gaea Times at : India, US to sign aviation safety agreement.

PM heading to Berlin, Germany to pitch for Eurofighter

BY MANISH CHAND
NEW DELHI – Germany is set to sharpen its pitch for selling Eurofighter Typhoon combat jets to India when Prime Minister Manmohan Singh goes to Berlin next month, a day-long trip that will focus on expanding the strategic relationship between the two would-be non-permanent members of the UN Security Council.

Manmohan Singh …. Original source  : PM heading to Berlin, Germany to pitch for Eurofighter.

BGR Energy denies any malpractice in securing loan

CHENNAI – City-based power sector engineering, procurement and construction company BGR Energy Systems Thursday said it did not resort to illegal or unethical means to get a Rs.500-crore working capital loan from Bank of India, whose official was taken into custody over an alleged loan scam Wednesday.

“We have no clue as to how our …. Read the original article  : BGR Energy denies any malpractice in securing loan.

Boscov’s Adopts Charity Program

SAN FRACISCO (GaeaTimes.com)- Boscov’s decided to offer something more after the sizzling Black Friday Deals. It has decided to adopt a charity program that would aim to help the poor and hospitalized elderly people and some helpless animals, who cannot speak for their rights.
The Boscov’s stores is Pennsylvania have set up two Christmas trees …. Original article  : Boscov’s Adopts Charity Program.

Cyber Monday Electronic Deals Raining Aplenty

SAN FRANCISCO (GaeaTimes.com)- The frenzy and maddening rush for the Black Friday sales has hardly subsided but the excitement over Cyber Monday has been gathering steam. This in fact is the last opportunity for those shoppers who could not make it to the Black Friday sales. The Cyber Monday ads have been published by …. Source article  : Cyber Monday Electronic Deals Raining Aplenty.

Infosys mentor calls for IT sector professionalism, ethics in Bangalore

BANGALORE – Information Technology (IT) giant Infosys chairman N.R. Narayana Murthy on Friday reiterated his call for promoting professionalism and ethics in the competitive and complex IT sector.

He was speaking at a round table conference organized by Institution …. Original article  : Infosys mentor calls for IT sector professionalism, ethics in Bangalore.

Cyber Monday Deals Create Buzz

SAN FRANCISCO (GaeaTimes.com)- Even though Black Friday is officially over the excitement of the shoppers are refusing to subside. They are looking forward to the Cyber Monday deals. It would be perfect for those who love to buy products at bargain rates but are weary of jostling with the crowd. The top retailers like …. Source  : Gaea News Network.

China launches electronic passports

BEIJING – China has launched its first ever electronic passports that would contain information in microchips.

The adoption of electronic passports complies with international trends and plays an important role in international travel for officials, Huang Ping, director-general of the department of consular affairs of China’s foreign ministry, said at the launch ceremony in Shanghai …. Source  : Gaea News Network.

Ban sale of agricultural land to non-Goans: Congress

PANAJI – A special legislation is necessary in Goa to ban sale of agricultural land to foreigners and non-Goans considering the land resource crunch here, state Congress president Subhash Shirodkar has said.

Shirodkar told IANS here Friday that he would meet Chief Minister Digambar Kamat and urge him to speed up passing of the … Read more >>.

US shoppers plunge into Black Friday

WASHINGTON – Tens of millions of US shoppers raced from their homes on Black Friday to take part in the annual US holiday frenzy of lifting the economy.

They chased after $200d discounts on 46-inch Google TVs and $100 discounts on three pairs of Rockport shoes.
Many left their homes before midnight Thursday with their …. Original article on Gaea Times at  : US shoppers plunge into Black Friday.

US stocks drop on more euro concerns, Korea tensions

NEW YORK – US stocks fell Friday as credit ratings for Irish banks were cut and tensions simmered on the Korean Peninsula.

Ratings agency Standard & Poor’s drastically downgraded the creditworthiness of Anglo Irish Bank and lowered its rating for three other Irish banks. The European Union and International Monetary Fund reportedly hope to reach …. Source article on Gaea Times at  : US stocks drop on more euro concerns, Korea tensions.

Step-by-step liberalisation good policy: German envoy

KOLKATA – Germany’s envoy to India Friday called for greater foreign participation in this country’s insurance sector but said it was a good policy to go for liberalisation step-by-step and slowly.

“There are same areas which if opened up can be mutually beneficial, like the insurance sector. The foreign direct investment (FDI) in insurance should …. Original article on Gaea Times at  : Step-by-step liberalisation good policy: German envoy.

Nafed monitoring markets to check onion prices

NEW DELHI – Agri-cooperative Nafed is monitoring the rates of onions to keep prices under check, and increased arrivals from Maharashtra will ease prices, the agriculture ministry said Friday.

“Nafed is monitoring rates of onions in different mandis on daily basis to keep onion prices under check,” a release from the ministry said.
Heavy rains … Original article on : Nafed monitoring markets to check onion prices.

Abu Dhabi voted ‘Best City’ in MENA region

Dubai, Nov 26 (IANS/WAM) Abu Dhabi has been voted the “Best City” in the Middle East and the North Africa region (MENA) in a study, it was announced Friday.

The report titled “Best Cities of the Middle East and North Africa 2010″ was produced by the Middle East’s top job site Bayt.com and … Read : Abu Dhabi voted ‘Best City’ in MENA region.

Metro to introduce six-coach trains by December

NEW DELHI – Catering to the manifold rise in ridership, the Delhi Metro Friday said it will introduce six-coach trains from December on two lines.

According to Raj Kumar, director of operations of Delhi Metro Rail Corporation (DMRC), the six-coach trains will be introduced on Line 3 (Dwarka Sector 21 to NOIDA City Centre) and … Read more »»».

Environmental clearance for industries goes online in Delhi

NEW DELHI – Taking a further step towards e-governance, the Delhi government Friday made its environmental clearance process for industries online.

The online system for grant of consent to industries by the Delhi Pollution Control Committee (DPCC), which becomes the first board in the country for providing such a facility, was inaugurated by Chief Minister … Read the original article on Gaea Times at : Environmental clearance for industries goes online in Delhi.

Two-laning of Tindivanam-Krishnagiri highway approved

NEW DELHI – A cabinet panel Friday approved the two-laning of the 178-km-long Tindivanam-Krishnagiri section of National Highway (NH)-66 in Tamil Nadu, at a cost of Rs.610.21 crore.

“The Cabinet Committee on Infrastructure (CCI) today (Friday) approved the implementation of the project of two laning with/without paved shoulders of 178.060 km long Tindivanam-Krishnagiri section … Read this article on Gaea Times at : Two-laning of Tindivanam-Krishnagiri highway approved.

Get ready to pay for mobile banking service from April 2011

NEW DELHI – Get ready to pay a fee for inter-bank transactions conducted through mobile phones from April 2011, as the National Payment Corporation of India (NPCI) intends to charge lenders Rs.0.25 per transaction from the next financial year.

“NPCI will be providing services to member banks free of charge till March 31, 2011. …. Source article  : Get ready to pay for mobile banking service from April 2011.

Jaguar launches XF sports-sedan’s diesel variant

NEW DELHI – Luxury automobile maker Jaguar Friday launched its XF sport sedan’s diesel variant priced at Rs.48.37 lakh (ex-showroom Delhi).

The launch comes after we received a huge response to our XF’s petrol version. We have received a pre-launch booking of 60 cars, said Rohit Suri, head – premier car division, Jaguar and Land …. Source article  : Jaguar launches XF sports-sedan’s diesel variant.

344 train accidents kill 204: Mamata

NEW DELHI – A total of 344 train accidents in the last three years killed 204 people and led to property loss of Rs.155.27 crore to the Indian Railways, Railway Minister Mamata Banerjee said Friday.

The total number of accidents caused by bomb blasts are 12, the minister said in a written reply to …. Source article  : 344 train accidents kill 204: Mamata.

Police thrash men in Metro women’s coaches

NEW DELHI/GURGAON – With repeated requests failing to keep men away from Delhi Metro coaches reserved for women, policemen and women decided there was only one way out: thrash the male offenders.

And so on Thursday, on two separate occasions in Gurgaon and New Delhi, several police and security personnel barged into the first coaches …. Source  : Gaea News Network.

The battle of sexes in Delhi Metro… part 1 (First Person)

Green Park Metro Station, New Delhi, Thursday: The Metro platform was unusually crowded considering the time of the day. I checked my watch again, 8.35 p.m. As I approached the crowd, I could smell trouble.

“This was bound to happen”, “They should do away with the ladies coach”, “All these problems started after reserving that … Read more : The battle of sexes in Delhi Metro… part 1 (First Person).

Women khadi weavers a huge draw at Delhi’s Trade Fair

NEW DELHI – Women weavers from Andhra Pradesh who are here to participate in the India International Trade Fair 2010 are a big draw.

They are demonstrating a step-by-step procedure of the fabric, starting from cleaning of cotton.

The workers are from Andhra Pradesh’s Ponduru district and …. Original article on Gaea Times at  : Women khadi weavers a huge draw at Delhi’s Trade Fair.

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 »»».