Business News – Newsletter for December 1, 2010

Wednesday, December 1, 2010

Pakistani exports show upward trend

ISLAMABAD – The exports by Pakistani manufacturers have touched $7.8 billion in the first four months of ongoing 2010-11 fiscal, which marks a substantial 14 percent increase compared to the same period last year.

According to a report issued by State Bank of Pakistan here Wednesday, almost all sectors showed encouraging upward growth in … Read this article on Gaea Times at : Pakistani exports show upward trend.

Airbus ready to Release Updated A320 on 2016

NEW YORK (GaeaTimes.com) — After a lot of controversy that continued till one year Airbus has finally announced to deliver its A320 series of aircrafts with new and improved engines. This new version of popular A320 single-aisle plane will be equipped with fuel-efficient engine.

According to Airbus executives, they plan to make this updated version of … Read : Airbus ready to Release Updated A320 on 2016.

Labourers decline work as aid flows in flood-hit Pakistan

ISLAMABAD – Labourers are shying away from taking on work in flood-hit areas of Pakistan due to the deluge of free aid, said a media report that pointed out when an NGO distributed shovels and sickels, the implements were promptly sold in the market.

Dawn reported Wednesday that free aid has resulted in shortage of … Original article on : Labourers decline work as aid flows in flood-hit Pakistan.

Marauding monkeys to face gun in Himachal – it’s official

SHIMLA – Himachal Pradesh takes pride in temples dedicated to god Hanuman, but the tale is about to turn grim for thousands for monkeys in the state. The government has now backed a farmer outfit’s plan to shoot monkeys at sight as the simians have been causing huge damage to crops.

“Operation Monkey” has already …. Original article : Marauding monkeys to face gun in Himachal – it’s official.

India’s merchandise exports rise 21.36 percent in October

NEW DELHI – India’s merchandise exports rose 21.36 percent in October to almost $18 billion ((Rs.79,763 crore) compared to the like month of last year, while imports grew at their slowest pace — 6.8 percent to $27.68 billion, according to official data released Wednesday.

“The trade deficit for April-October 2010 was estimated at $72.77 billion … Read more >>>.

TVS Motor logs 29 percent November sales growth

CHENNAI – Logging growth across all segments, the TVS Motor Company registered a 29 percent increase in sales in November this year compared to the corresponding period last year.

The company sold 157,041 units last month as against 121,945 units sold in November 2009.
The cumulative sales for the April-November period this year stands at … Read the original article on Gaea Times at : TVS Motor logs 29 percent November sales growth.

Toyota Etios Launched In India

BANGALORE, INDIA (GaeaTimes.com)- Today is going to be a landmark for Toyota motor Corp in India. The Japanese car giant is going to launch its much talked about small car Etios in Bangalore in India. Toyota has witnessed a slower growth in India compared to other countries and in India it has focused on … Original article on : Toyota Etios Launched In India.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.70 and the Reference Rate for Euro is ` 59.53 on December 1, 2010. The corresponding rates for the previous day (November 30, 2010) were ` 46.04 and ` 60.36 respectively. Based on the Reference Rate for US … Original source on Gaea Times at : RBI Reference Rate for US $ and Euro.

Sensex builds on early gains

MUMBAI – A benchmark index of Indian equities Wednesday built on its morning gains even as buying activity picked up in broader markets.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,529.99 points, was ruling at 19,726.08 points, up 204.83 points or 1.05 percent from its previous close at …. Source article on Gaea Times at : Sensex builds on early gains.

Vodafone might take till 2020 to make Indian business turnaround

NEW YORK/NEW DELHI – British mobile operator Vodafone’s foray into India has been a disaster, so much so that insiders and experts have gone on record to say that it could take the firm until 2020 to make an economic profit.

According to a Wall Street Journal (WSJ) report, in 2007, Vodafone paid 5.5 billion … Original article on : Vodafone might take till 2020 to make Indian business turnaround.

India to phase out Cirus nuke research reactor soon

KAIGA – India will soon phase out the Cirus research reactor, the 40-MW power unit supplied by Canada in the mid-50s with heavy water from the US to the state-run Bhabha Atomic Research Centre (BARC) at Trombay near Mumbai, a top official said.

“Cirus will be phased out this year as per the Indo-US 123 …. Source article on Gaea Times at : India to phase out Cirus nuke research reactor soon.

BlackBerry stock jumps 5.4 percent as investors return

TORONTO – Aggressive market posturing by the BlackBerry maker Research In Motion (RIM) after its recent tit-for-tat salvos with Apple seems to have fired the company’s fortunes in the stock market. RIM shares shot up 5.40 percent on the Toronto Stock Exchange Tuesday to close at $63.25.

After sinking below $50 and languishing at those …. Original article : BlackBerry stock jumps 5.4 percent as investors return.

Symantec meet to focus on data, information security concerns

MUMBAI – Global security solutions provider Symantec will Thursday unveil its vision to secure and manage sensitive information and identities on multiple platforms spanning IT infrastructure.

“We are showcasing our latest technologies ranging from effective management of large data centres and cloud computing to security and storage at our premium technology conference ‘Vision 2010′ here,” … Read more »»».

Underwriting Auctions for Government Securities

The Government of India have announced the sale(reissue) of “7.99 per cent Government Stock 2017” for a notified amount of ` 4,000 crore (nominal), "8.13 per cent Government Stock 2022" for a notified amount of ` 4,000 crore (nominal) and "8.30 per cent Government Stock 2040” for a notified amount …. Source : Underwriting Auctions for Government Securities.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on December 1, 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 : Liquidity Adjustment Facility : Auction Results.

Pact allows Indian equipment to move through Bangladesh

DHAKA – A bilateral treaty signed between Dhaka and New Delhi will facilitate the transport of Indian equipment to a power plant being set up in India’s Tripura state, abutting Bangladesh.

A memorandum of understanding (MoU) was signed by Bangladeshi and Indian officials at the shipping ministry office here Tuesday, The Daily Star newspaper reported.
… Read : Pact allows Indian equipment to move through Bangladesh.

Sensex rises in early trade

MUMBAI – A benchmark index of Indian equities was up 128 points as broader markets saw better buys Wednesday.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,529.99 points, was ruling at 19,650.11 points, up 128.86 points or 0.66 percent from its previous close at 19,521.25 points.
At …. Original article on Gaea Times at : Sensex rises in early trade.