Business News – Weekly Newsletter for December 1-6, 2010

IVRCL Infrastructure bags Rs.500 cr construction order

NEW DELHI – Infrastructure and construction firm IVRCL Infrastructure Monday said its water and buildings division has bagged orders worth Rs.500.49 crore (nearly $110 million).

The plant water system package for the Kakrapar Atomic power project 3 and 4 near Surat, Gujarat, was awarded an order worth Rs.100.33 crore. The scope of the work … Read more : IVRCL Infrastructure bags Rs.500 cr construction order.

Sensex rises further in afternoon trade

MUMBAI – A benchmark index of Indian equities markets rose further in afternoon trade Monday with blue chip firms RIL and ICICI Bank leading the gainers pack.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,230.34 points, was ruling at 19,377.29 points, up 240.68 points or 1.26 percent from …. Original source  : Sensex rises further in afternoon trade.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.81 and the Reference Rate for Euro is ` 60.66 on November 29, 2010. The corresponding rates for the previous day (November 26, 2010) were ` 45.74 and ` 60.84 respectively. Based on the Reference Rate for … Read more >>.

India pushes for bilateral investment protection pact with Nepal

KATHMANDU – The Indian government and the Confederation of Indian Industry (CII) are pushing for a quick inking of a Bilateral Investment Protection Agreement (BIPA) with Nepal, whose trade with India accounts for 60 percent of external trade and where 45 percent of the foreign investment comes from India.

A visiting CII delegation that wound …. Source article  : India pushes for bilateral investment protection pact with Nepal.

Power regulators mull higher tariff during peak hours

CHENNAI – Central and state electricity regulators are looking for ways to reduce demand during peak hours, including charging higher tariff, an official said.

At a meeting of the chairmen of the central and state electricity regulatory commissions here Sunday, a broad consensus was arrived at controlling peak time demand.
“The discussion was on devising … Read the original article on Gaea Times at : Power regulators mull higher tariff during peak hours.

RBI cautions Public about Unauthorised Companies collecting Deposits

The Reserve Bank of India has today cautioned members of public about unauthorised companies which collect money from public stating that they have been authorised by the Reserve Bank to do so. The Reserve Bank stated that it has published on its website (rbi.org.in/scripts/BS_NBFCList.aspx) a list of non-banking finance companies (NBFCs) …. Source article on Gaea Times at  : RBI cautions Public about Unauthorised Companies collecting Deposits.

UN climate change conference to begin in Cancun Monday

CANCUN – The UN Climate Change Conference begins in Cancun Monday, where leaders of 194 countries would discuss their future commitments to reduce emissions and take action against climate change.

The conference would go on till Dec 10.
Rich countries had earlier pledged $30 billion to combat the affects of climate change – of which … Original source on Gaea Times at : UN climate change conference to begin in Cancun Monday.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on November 29, 2010 are:

Amount  (face value in ` crore)                      

Item

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

1 day Repo Auction 
(Purchase of securities by RBI)

5.25% …. Source article on Gaea Times at  : Liquidity Adjustment Facility : Auction Results.

Sensex moves up in morning trade

MUMBAI – A benchmark index of Indian equities was ruling 130 points higher in Monday morning trade compared to its previous close.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,230.34 points, was ruling at 19,266.69 points, up 130.08 points or 0.68 percent from its previous close at 19,136.61 … Read more >>>.

Money Market Operations as on November 26, 2010

… Read : Money Market Operations as on November 26, 2010.

Tokyo stocks climb on weaker yen

TOKYO – Japanese shares rose in Monday morning trading as a weaker yen helped lift export-oriented issues.

The benchmark Nikkei 225 Stock Average gained 29.82 points, or 0.3 percent, to trade at 10,069.38. The broader Topix index was up 4.54 points, or 0.52 percent, at 871.35.
The yen weakened against the dollar, hovering around the …. Source article  : Tokyo stocks climb on weaker yen.

Technical snag disrupts Metro line for an hour

NEW DELHI – For the second time in nine days, thousands of commuters were stranded Sunday evening as services on Delhi Metro’s Gurgaon-Jahangirpuri line were disrupted for an hour due to a technical snag, a Metro official said. The fault was rectified and the services resumed at 10.36 p.m.

A Metro official told IANS that …. Original source  : Technical snag disrupts Metro line for an hour.

Technical snag against disrupts Metro line

NEW DELHI – For the second time in nine days, thousands of commuters were stranded Sunday evening as services on Delhi Metro’s Gurgaon-Jahangirpuri line were disrupted due to a technical snag, a Metro official said.

“There has been some technical snag which we are trying to figure out. Services on this line has …. Original article on Gaea Times at  : Technical snag against disrupts Metro line.

Nuclear plant in Maharashtra’s Jaitapur cleared: says Ramesh

MUMBAI – In a major fillip to resolving Maharashtra’s power crisis, the central government has accorded environmental clearance to the 9,900 MW Jaitapur nuclear power project slated to come up in Ratnagiri district, Environment and Forests Minister Jairam Ramesh said Sunday.

The approval has been granted subject to 35 conditions and safeguards, including 23 specific … Read the original article on Gaea Times at : Nuclear plant in Maharashtra’s Jaitapur cleared: says Ramesh.

‘New transfer rules for housing societies to benefit millions’

MUMBAI – A major problem faced by nearly 100,000 housing societies in getting the land and buildings tranfered to their names has been resolved and will benefit millions of Mumbaikars, a top official said here Sunday.

Addressing members of Sanskruti Housing Complex in Kandivli in northwest Mumbai with over 40 housing societies, North Mumbai Lok … Read this article on Gaea Times at : ‘New transfer rules for housing societies to benefit millions’.

MCD demolishes 180 shops in central Delhi

NEW DELHI – The Municipal Corporation of Delhi (MCD) Sunday demolished 180 shops in central Delhi for constructing a road, an official said.

“The shops were demolished at Panchkuian Road furniture market as the owners were given alternative shops in Gole Market but they were not vacating the space,” the official said.
The … Read this article on Gaea Times at : MCD demolishes 180 shops in central Delhi.

Seminar discusses UAE-Italy double taxation

Dubai, Nov 28 (IANS/WAM) A seminar was organised here to familiarize the participants about various articles under the avoidance of double taxation agreement signed between the UAE and Italy, it was announced Sunday.

Representatives of the Italian Business Council and the UAE’s foreign ministry, among others, attended the meeting. It was aimed at strengthening …. Original article on Gaea Times at  : Seminar discusses UAE-Italy double taxation.

UAE, Vietnam discuss trade cooperation

Hanoi, Nov 28 (IANS/WAM) Visiting UAE Economy Minister Sultan bin Saeed Al Mansouri and Vietnamese Investment and Planning Minister Vo Hong Phuc held talks to boost bilateral trade and investments, particularly in the energy and the petrochemical sectors, it was announced Sunday.

The two sides, at the meeting in Hanoi, explored ways of …. Source  : UAE, Vietnam discuss trade cooperation.

Tamil Nadu to add 18,140 MW in five years

CHENNAI – Private players are expected to increase Tamil Nadu’s power generation by 18,140 MW in five years at an outlay of Rs.910 billion ($20 billion), Deputy Chief Minister M.K. Stalin said Sunday.

Speaking at the All India Conference of Chairmen of Central and State Electricity Regulatory Commissions here, Stalin said: “Private power developers are …. Source  : Gaea News Network.

Punjab eyes record stamp duty collection

CHANDIGARH – Revenue collection from stamp duty in Punjab is likely to touch a record Rs.25 billion this financial year, an official said here Sunday.

Financial Commissioner (Revenue) Romila Dubey said here that due to a series of steps taken by the revenue department, the stamp duty collection was all set to touch Rs.25 billion …. Source  : Gaea News Network.

Sensex tapers off from day’s highs, broader markets gain

MUMBAI – A benchmark index of Indian equities markets Tuesday fell from its intra-day highs about an hour before closing bell. It had moved up from the negative in mid-day.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,373.23 points, was ruling at 19,508.67 points, up 103.57 points or …. Source article  : Sensex tapers off from day’s highs, broader markets gain.

Indian economy grew 8.9 percent July-September

NEW DELHI – The Indian economy grew by 8.9 percent in the second quarter of this fiscal, latest data on gross domestic product (GDP) showed Tuesday, much above the forecasts and the government’s own expectations of 8.5 percent expansion this whole fiscal.

The expansion was indentical to the 8.9 percent growth logged during the first …. Source  : Gaea News Network.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 46.04 and the Reference Rate for Euro is ` 60.36 on November 30, 2010. The corresponding rates for the previous day (November 29, 2010) were ` 45.81 and ` 60.66 respectively. Based on the Reference Rate for … Read more : RBI Reference Rate for US $ and Euro.

Investors’ money in banks is safe: Pranab

NEW DELHI – Stating that investors’ money in banks was safe, Finance Minister Pranab Mukherjee said Tuesday that the government would take appropriate action if it finds any irregularities in the disbursement of loans by financial institutions.

“There is no need to press the panic button. I am in touch with the RBI governor and …. Source article  : Investors’ money in banks is safe: Pranab.

Best Cyber Monday Deals On Electronic Products

SAN FRANCISCO (GaeaTimes.com)- The Cyber Monday deals have ensured that the shoppers in the USA are hitting the retail stores like crazy and the offered products are getting sold fast both from stores and on line. The shopping frenzy is likely to subside in a few more hours and the last hour shoppers are …. Original article  : Best Cyber Monday Deals On Electronic Products.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on November 30, 2010 are:

Amount  (face value in ` crore)                      

Item

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

1 day Repo Auction 
(Purchase of securities by RBI)

5.25% …. Source article  : Liquidity Adjustment Facility : Auction Results.

Mumbai JV wins bid for Nepal’s first recycling plant

KATHMANDU – Navi Mumbai’s Hydroair Tectonic’s joint venture with Nepal’s Kasturi Trade Link has won the bid for setting up Nepal’s first waste recycling plant, pipping five other Indian JVs in the fray as well as a Finnish consortium, breaking a long jinx on Indian bidders in the country.

The memorandum of understanding, signed between … Read : Mumbai JV wins bid for Nepal’s first recycling plant.

Comcast Outage Resolved

WASHINGTON DC (GaeaTimes.com)- Last Sunday saw Boston, Washington DC and its surrounding areas being hit by an Internet outage for some hours. The Internet facilities which failed were those of Comcast. Comcast customers complained of an Internet outage on Sunday evening which was solved later on in the midnight. The Comcast outage reportedly took place …. Source article on Gaea Times at  : Comcast Outage Resolved.

Big Japanese aid for Bangladesh bridge

DHAKA – Japan will provide an additional $100 million to Bangladesh for the construction of a bridge over the Padma river.

The announcement came Monday evening in Tokyo in a joint statement signed by Prime Minister Sheikh Hasina, and her Japanese host, Prime Minister Naoto Kan.
The additional $100 million will take Japan’s total …. Original article on Gaea Times at  : Big Japanese aid for Bangladesh bridge.

Sixth Kerala migration survey begins

THIRUVANANTHAPURAM – The sixth edition of the Kerala Migration Survey (KMS 2010), which will monitor the status of migration and remittances by non-resident Keralites to the state, has begun.

It will be conducted by the Centre for Development Studies (CDS), like the previous five editions, and will cover 15,000 sample households.
S. Irudaya Rajan, chair … Read this article on Gaea Times at : Sixth Kerala migration survey begins.

Indian firm catches the eye of Harvard Business School

WASHINGTON – An award winning drip irrigation technology developed by an Indian company that has caught the attention of the Harvard Business School holds out hope for poor farmers from earthquake-hit Haiti to Africa.

Jalgaon (Maharashtra)-based agro, pipes, processed foods and irrigation major Jain Irrigation Systems Ltd (JISL), which has won Unesco’s Water Conserver Award … Read more »».

Sensex slips in early trade

MUMBAI – A benchmark index of Indian equities Tuesday fell sharply in early trade to rule 134 points lower than its previous close.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,373.23 points, was ruling at 19,270.13 points, down 134.97 points or 0.7 percent from its previous close at … Read the original article on Gaea Times at : Sensex slips in early trade.

After diplomatic assault, WikiLeaks to ‘take down a bank or two’

WASHINGTON – After sending shock waves across world capitals leaking a quarter million State Department cables, WikiLeaks founder Julian Assange has threatened to unleash tens of thousands of documents that could “take down a bank or two.”

A fresh “megaleak” will target a “big US bank early next year,” he told Forbes in an interview …. Original article  : After diplomatic assault, WikiLeaks to ‘take down a bank or two’.

Money Market Operations as on November 29, 2010

… Read the original article on Gaea Times at : Money Market Operations as on November 29, 2010.

Volvo to recall 18,848 vehicles in China

BEIJING – Automobile giant Volvo has said it would recall 18,848 vehicles in China to repair manufacturing defects.

The recall beginning Monday will cover Volvo XC60, C30 2.0, S40 and S80L models in China due to defects in their airbag, engine software, and cooling systems, China’s quality watchdog said in a statement.
Xinhua reported …. Source  : Volvo to recall 18,848 vehicles in China.

WikiLeaks to target major US bank next

WASHINGTON – WikiLeaks plans to release thousands of internal documents from a major US bank in early 2011, Forbes magazine reported Monday.

Julian Assange, the founder of the self-proclaimed whistleblower website, told Forbes: “We have one related to a bank coming up, that’s a megaleak.
“It’s not as big a scale as the Iraq material, …. Source  : WikiLeaks to target major US bank next.

US stocks fall over concerns about European debt crisis

NEW YORK – US stocks fell Monday over concerns that the Irish bailout wouldn’t stem the European debt crisis, tensions simmering on the Korean Peninsula and the release of thousands of secret US diplomatic cables by WikiLeaks.

“There seems to be plenty to bother the market,” E. William Stone, chief investment strategist at PNC Wealth … Read more »».

Abu Dhabi posts 13 percent growth in air traffic

Abu Dhabi, Nov 29 (IANS/WAM) The Abu Dhabi Airports Company (ADAC) Monday announced a 13.3 percent increase in traffic in October, with passenger numbers reaching 904,000 compared to the corresponding month last year.

Aircraft movements during October grew to 9,500, while cargo traffic continued its positive course, with an increase of 11 percent, it … Read : Abu Dhabi posts 13 percent growth in air traffic.

Abu Dhabi to give $19 mn for Mali dam project

Abu Dhabi, Nov 29 (IANS/WAM) Abu Dhabi will give 70 million dirhams (about $19 million) to Mali for building a dam and a 25 MW power generating unit, it was announced Monday.

Acting director general of the Abu Dhabi Fund for Development (ADFD), Mohammed Saif Al Suwaidi, and Mali’s minister in charge of budget Lassina … Original source on Gaea Times at : Abu Dhabi to give $19 mn for Mali dam project.

Metro taking special measures to tackle emergencies

NEW DELHI – The Delhi Metro Rail Corporation (DMRC), facing a number of technical glitches in recent days, is implementing special measures to tackle emergency situations like breakdowns and fires, an official said Monday.

In November, services on the busy Jahangirpuri-Gurgaon line were disrupted twice due to problem in the overhead electrification, leaving thousands …. Original article  : Metro taking special measures to tackle emergencies.

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.

Money Market Operations as on November 30, 2010

…. Original article  : Money Market Operations as on November 30, 2010.

US stocks fall again over worries about European debts

NEW YORK – Continuing fears about fiscal instability among European Union governments overshadowed a favourable report on US consumer confidence as major Wall Street stock indices lost ground.

The New York-based Conference Board’s index of consumer confidence reached a five-month high. But continuing worries about budget deficits in several EU countries weighed on the market.
… Read more »»».

Agra’s sweet makers made to pay sanitation fee

AGRA – Makers of Agra’s trademark petha sweet were Tuesday slapped a monthly charge of Rs.3,000 by the municipal corporation for disposal of the waste generated by their units.

Municipal officials, along with an army of sanitation workers and police, visited the main petha market at Noori Darwaza and put pressure on the sweet … Original article on : Agra’s sweet makers made to pay sanitation fee.

Mobile connections touched 687.71 million in September

NEW DELHI – The number of mobile connections in India reached 687.71 million as on Sep 30, with the addition of 17.10 million subscribers in September, official data revealed Thursday.

According to the Telecom Regulatory Authority of India, the wireless phone user base grew 2.55 percent to 687.71 million in September, from 670.60 million in … Original article on : Mobile connections touched 687.71 million in September.

New Nepal casino targets Indians in UP, Bihar

KATHMANDU – While Nepal’s mainstream casino industry, with six of its eight casinos based in the capital, is going through troubled times, a ninth one has begun to operate in a border district, hoping to draw gamblers from neighbouring Uttar Pradesh and Bihar states across the border.

Nepalgunj, the main transport hub for Nepal’s mid- … Read the original article on Gaea Times at : New Nepal casino targets Indians in UP, Bihar.

Unique identification number launched in northeast India

AGARTALA – Aadhaar, a 12-digit identity number to be issued by the Unique Identification Authority of India (UIDAI) for all Indian residents, was formally launched in the northeastern state of Tripura Thursday.

Tripura is the first state in the northeast and the eighth in India where Aadhaar has been launched, according to officials here.
…. Original source  : Unique identification number launched in northeast India.

Kerala delaying Kochi project, insists Smart City Dubai

THIRUVANANTHAPURAM – Two days after receiving an ultimatum from Kerala Chief Minister V.S. Achuthanandan, Smart City Dubai Thursday said it was the state government which was delaying the Kochi infotech project.

Foundation stone for the Rs.1,500 crore ($335 million) Smart City Kochi IT project was laid three years ago. Smart City Dubai was supposed to … Read more : Kerala delaying Kochi project, insists Smart City Dubai.

Toyota India Eyes Production Hike

DELHI, INDIA (GaeaTimes.com)-Toyota Kirloskar Motor Limited which is a section of Toyota Motor Corporation of Japan is increasing its production capacity in its Indian plant. The new capacity is 80000 units a year up from 73000 units. It has said that it wants to double the car sales in India in 2011. In … Read more : Toyota India Eyes Production Hike.

Fed Reserve gave $9 trillion emergency loans to US banks

WASHINGTON – The Federal Reserve, America’s central bank, made $9 trillion in overnight loans to major banks and Wall Street firms during the financial crisis, according to newly revealed data.

The loans were made through a special loan programme set up by the Fed in the wake of the Bear Stearns collapse in March 2008 … Original source on Gaea Times at : Fed Reserve gave $9 trillion emergency loans to US banks.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.37 and the Reference Rate for Euro is ` 59.52 on December 2, 2010. The corresponding rates for the previous day (December 1, 2010) were ` 45.70 and ` 59.53 respectively. Based on the Reference Rate for … Read more >>>.

Sensex holding on to gains, Asian cues positive

MUMBAI – A benchmark index of Indian equities Thursday was holding on to morning gains led by rising realty and banking stocks, amid positive Asian cues.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,038.66 points, was ruling at 19,979.33 points, up 129.33 points or 0.65 percent from its …. Source  : Gaea News Network.

Food inflation dips to four-month low at 8.6 percent

NEW DELHI – India’s annual food inflation fell to a four-month low of 8.6 percent for the week ended Nov 20 as fresh kharif crop arrivals had a dampening effect of prices of food grain and vegetables, according to official data released Thursday.

The annual inflation rate for the primary articles group slipped at … Read more »».

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on December 2, 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.

Etios Launch Makes Toyota Upbeat

BANGALORE, INDIA (GaeaTimes.com)- The largest automaker of the world, Toyota Motor Corp is bullish on increasing its market share in the Indian car market where it has a minuscule share till date. The Japanese Car giant officially unveiled its much touted made for India sedan Etios in India yesterday. Toyota wants to make … Read the original article on Gaea Times at : Etios Launch Makes Toyota Upbeat.

Sensex moves up in early trade

MUMBAI – A benchmark index of Indian equities Thursday slipped a tad in morning trade after breaching the 20,000-mark soon after opening.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,038.66 points, was ruling at 19,969.86 points, up 119.86 points or 0.6 percent from its previous close at 19,850 … Original source on Gaea Times at : Sensex moves up in early trade.

Spain to cut taxes on small business

Madrid, Dec 2 (IANS/EFE) Spanish Prime Minister Jose Luis Rodriguez Zapatero announced Wednesday a new set of measures to boost the economy while also curbing public spending, such as a tax cut for small business and scrapping special payments to people whose unemployment benefits have run out.

The cabinet is set to approve the package …. Source article on Gaea Times at  : Spain to cut taxes on small business.

Canadian markets hit pre-recession levels

TORONTO – Canadian markets hit a new high Wednesday after the global meltdown, with the composite index on the Toronto Stock Exchange (TSX) closing at 13,148.35 points.

The last time the Toronto Stock Exchange – the world’s biggest energy and mining market – had closed at these levels was in September 2008.
Keeping the momentum …. Original article on Gaea Times at  : Canadian markets hit pre-recession levels.

Money Market Operations as on December 01, 2010

…. Original article  : Money Market Operations as on December 01, 2010.

Japanese stocks surge on US, European gains, and weaker yen

TOKYO – Japanese shares soared in Thursday morning trading, buoyed by a weaker yen and rallies in US and European markets.

The benchmark Nikkei 225 Stock Average added 178.07 points, or 1.78 percent, to trade at 10,166.12 while the broader Topix index was up 11.77 points, or 1.36 percent, at 877.84.
Exporters got a boost … Original article on : Japanese stocks surge on US, European gains, and weaker yen.

Fed reports widespread US economic growth in November

WASHINGTON – The US economy is growing in most parts of the country, according to a monthly study released Wednesday by the rate- setting US Federal Reserve.

The Fed found that in 10 of its 12 regions nationwide, the economy was gaining strength in November. Only eight of the 12 regions showed growth in October …. Original article on Gaea Times at  : Fed reports widespread US economic growth in November.

Future Generali eyeing 34 percent growth this fiscal

KOLKATA – Future Generali, the insurance joint venture between Indias Future Group and Italys Generali, is looking at 34 percent growth in business by the end of the 2010-11 fiscal through its sales channel Mallassurance, it was announced here Wednesday.

We expect this initiative will help us achieve the highest ever 34 percent growth this …. Source  : Gaea News Network.

Premji to set up new Rs.8,846-crore endowment trust

BANGALORE – Wipro chairman Azim Premji late Wednesday announced that he would set up a new endowment trust with a whopping Rs.8,846 crore (Rs.88.5 billion) to fund various social initiatives.

The endowment trust will be set up with funds raised by transferring 213 million equity shares of mine in Wipro Limited, which have a current … Read more : Premji to set up new Rs.8,846-crore endowment trust.

Symantec to unveil strategies against cyber attacks

MUMBAI – Global security solutions provider Symantec Corporation will Thursday unveil strategies to enable enterprises to secure their data from cyber attacks.

Symantec worldwide sales executive Bill Robbins will unfold the strategy at the US-based companys premium technology conference here.
Robbins will examine the critical shift from infrastructure-centric to information-centric computing and discuss what such …. Original article on Gaea Times at  : Symantec to unveil strategies against cyber attacks.

Among bank head honchos, Indians get lowest salary in Nepal

KATHMANDU – Nepal may be one of the poorest nations in the world and India may have one of the fastest growing economies, but the head honchos of Nepali banks take home pays that are way ahead of the salaries received by the chiefs of Indian joint-venture banks in the country.

The two Indian … Original article on : Among bank head honchos, Indians get lowest salary in Nepal.

Larsen and Toubro bags UAE orders worth $158 million

MUMBAI – Engineering and construction major Larsen and Toubro (L&T) Friday said its construction division has bagged a contract worth Rs.716 crore (around $158 million) from the UAE to construct an intersection connecting a road between Abu Dhabi and Dubai.

The Sheikh Khalifa Interchange project is to be completed in two years and includes construction … Read more >>>.

‘Grameen’ Yunus refutes $100 mn anomalies charge

DHAKA – Bangladeshi Nobel Laureate Muhammad Yunus has refuted a charge that

he had transferred $100 million aid meant for his micro-credit bank Grameen to other projects.
The bank’s founder told The Daily Star newspaper that he had done so 14 years ago “to ensure maximum transparency and responsible use of the bank’s revolving … Original source on Gaea Times at : ‘Grameen’ Yunus refutes $100 mn anomalies charge.

Sensex dull in afternoon trade

MUMBAI – A benchmark index of Indian equities Friday were ruling lacklustre in afternoon trade even as profit booking gained strength in broader markets.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,007.89 points, was ruling at 20,015.14 points – up 22.14 points or 0.11 percent from its previous … Read more »».

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.09 and the Reference Rate for Euro is ` 59.63 on December 3, 2010. The corresponding rates for the previous day (December 2, 2010) were ` 45.37 and ` 59.52 respectively. Based on the Reference Rate for US …. Original article  : RBI Reference Rate for US $ and Euro.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on December 3, 2010 are:

Amount  (face value in ` crore)                    

Item

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

3 days Repo Auction 
…. Read the original article  : here.

`Putin may have offered Berlusconi profits from joint projects’

Rome, Dec 3 (IANS/AKI) Russian Prime Minister Vladimir Putin may have offered Italy’s billionaire premier Silvio Berlusconi a share of the profits from projects jointly developed by their respective country’s biggest energy companies, according to a diplomatic cable posted on the whistleblowing WikiLeaks website.

“The Georgian ambassador in Rome has told us” that his government …. Original article  : `Putin may have offered Berlusconi profits from joint projects’.

Sensex crosses 20,000 mark in morning trade

MUMBAI – A benchmark index of Indian equities Friday was ruling moderately higher, having breached the 20,000 mark on opening.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,007.89 points, was ruling at 20,034.15 points – up 41.45 points or 0.21 percent from its previous close at 19,992.7 points.
…. Source article on Gaea Times at  : Sensex crosses 20,000 mark in morning trade.

Playboy to open casino in Mexico

Mexico City, Dec 3 (IANS/EFE) Playboy said its $7.5 million casino in the Mexican Caribbean resort city of Cancun would open this weekend.

The casion, which covers 1,200 sq. meters will be inaugurated Saturday with a private party and open to the public the next day.
The casino will offer gaming tables and machines to … Read this article on Gaea Times at : Playboy to open casino in Mexico.

Money Market Operations as on December 02, 2010

… Read : Money Market Operations as on December 02, 2010.

US stocks jump for second day on more good economic news

NEW YORK – US stocks surged Thursday for the second straight session because of positive economic data, this time from the housing and retail sectors.

Sales of existing homes climbed a better-than-expected 10 percent in October, while a number of major retailers posted positive sales entering the holiday shopping season.
The figures offered hope that … Read more »».

GM IPO Brings Additional $1.8 Billion To US Treasury

WASHINGTON DC (GaeaTimes) — The U.S. Treasury Department made a statement on Thursday indicating that it received another $1.8 billion in net proceeds from General Motors’ IPO. This brings the tally to $13.5 billion, the amount repaid to the tax payers. The treasury received $11.7 Billion on November 23 by selling GM stock. It …. Source  : GM IPO Brings Additional $1.8 Billion To US Treasury.

US spending in M&A in Emerging Companies up By Double

NEW YORK (GaeaTimes.com) — U.S companies have been reported to spend nearly double the amount buying assets in emerging markets than done in 2009. This is the result of their expectation that they are seeking economies offering faster growth. In the process large cash reserves may be used up.
This is in the wake of …. Source article  : US spending in M&A in Emerging Companies up By Double.

Reports of Antitrust emerge from Google Inc’s Groupon Accusition

The rumored deal where Google is said to have purchased Groupon the deal-of the-day site may face antitrust security. The secretive $6 Billion planned buy out plan of Groupon was hinted by publications such as by the technology blog All Things D and by The New York Times.
According to the present situation as long … Read more >>>.

The Huffington Post Top Brass Plans To Surpass Wall Street Journal in a Few Years

NEW YORK (GaeaTimes.com) — The Huffington Post will be worth more than The Wall Street Journal in a few years if CEO Eric Hippeau. has his way the answer will definitely be true. In a recent interview he was quoted as saying “I think probably [us]” when asked the question which among “The Huffington … Read more »».

Two Gujarat entities win awards

GANDHINAGAR – The Gujarat government’s power and urban infrastructure entities have been cited at the 3rd KPMG Infrastructure Today Awards-2010, a official statement said Thursday.

Power entity Gujarat Urja Vikash Nigam Limited (GUVNL) and the watera and urban infrastructure body Gujarat Infrastructure Development Board (GIDB) bagged the awards for the most admired state entity in … Original source on Gaea Times at : Two Gujarat entities win awards.

Each Unique ID number costs Rs.100: Nilekani

NEW DELHI – It costs the Unique Identification Authority of India (UIDAI) Rs.100 to generate each “aadhaar” number, which will help address the challenges of inclusion, the authority’s chief Nandan Nilekani, said here Thursday.

It costs the authority Rs.50 to enrol each individual for the Unique ID (UID) and another Rs.50 on back-end costs, … Read the original article on Gaea Times at : Each Unique ID number costs Rs.100: Nilekani.

Sistema-Shyam launches MTS in Gujarat

AHMEDABAD – Sistema Shyam TeleServices Limited (SSTL) Thursday launched its mobile telephony brand MTS in Gujarat.

The company’s president and CEO Vsevolod Rozanov also said the company would invest Rs.100 crore over the next three months to ramp up its network in the state, reaching to over 150 dealers and 31,000 retail outlets.
… Original source on Gaea Times at : Sistema-Shyam launches MTS in Gujarat.

Regulator cancels Pritam Insurance Brokers licence

CHENNAI – The Insurance Regulatory and Development Authority (IRDA) Thursday formally cancelled the licence of Pritam Insurance Brokers – now known as Mount Shikhar Insurance Brokers.

The broking company agreed to service its existing clients for six months and make necessary arrangements for them.
Pritam Insurance Brokers sought renewal of its licence under the new … Original source on Gaea Times at : Regulator cancels Pritam Insurance Brokers licence.

Ship collision: Green damage to be assessed

KOLKATA – Port and pollution control authorities will assess the environmental damage from an oil spill after two container vessels collided in West Bengal’s Hooghly river Nov 22.

“The officials will visit the (collision) spot following a directive from the Calcutta High Court to prepare a detailed report on the extent of water pollution,” …. Source  : Ship collision: Green damage to be assessed.

Belgium seeks strong ties with India in IT, gems and jewellery

KOLKATA – Belgium has evinced interest in further boosting economic ties with India in sectors like IT, gems and jewellery, non-conventional energy sources and education.

Belgian Ambassador Jean M. Deboutte in a press meet Friday said: We can strengthen our economic ties with India by increasing our cooperation in the IT, non-conventional energy sources and … Read more : Belgium seeks strong ties with India in IT, gems and jewellery.

BlackBerry to provide India access to messenger services

NEW DELHI – Research in Motion (RIM), the Canadian company that makes BlackBerry mobile devices, Saturday said it is working to provide the Indian government lawful access to BlackBerry Messenger Services (BBM).

“RIM confirms that it is fully cooperating with the government of India and is enabling carriers in India to be able to provide … Read the original article on Gaea Times at : BlackBerry to provide India access to messenger services.

Tamil Nadu officials to estimate rain damages

CHENNAI – The Tamil Nadu government has asked eight senior officials to survey nine districts affected by heavy rains, estimate the extent of damage and also take relief measures if needed, it was decided in a cabinet meeting here Saturday.

The meeting was chaired by Chief Minister M. Karunanidhi. Officials were asked to survey Cuddalore, …. Original source  : Tamil Nadu officials to estimate rain damages.

Majority Chinese charities don’t disclose financial data

BEIJING – A majority of charity organisations in China – 75 percent – handling billions of yuan in donations, do not disclose their financial information, a media report said Saturday.

A survey said about 431,100 charities in China received 33.2 billion yuan ($4.9 billion) in 2009.
The China Charity and Donation Information Centre under the … Read more >>>.

US adds less jobs in a sluggish economy

WASHINGTON – A sluggish US economy added just 39,000 jobs in November while the unemployment rate rose to 9.8 percent, tempering hopes of a quick recovery from its worse slowdown in decades.

The numbers marked a major slowdown from October, when US employers added an upwardly revised 172,000 jobs, the Labour Department job report released … Read more >>.

Spanish military takes over air traffic control after strike

Madrid, Dec 4 (IANS/EFE) Prime Minister Jose Luis Rodriguez Zapatero’s government militarised the air traffic control system following Friday’s wildcat strike by controllers that virtually shut down Spain’s airspace.

Air force officers took over management of the control towers at 10 major airports, including those serving Madrid, Barcelona, Seville and the Canary Islands, the … Read more >>>.

US and South Korea reach deal on free-trade pact

WASHINGTON – The US and South Korea have reached a deal on a long-stalled free-trade agreement between the two powers, US President Barack Obama announced Friday.

The deal comes after both countries spent months ironing out differences over imports of beef, cars and other concerns since Obama came into office in early 2009.
The countries’ [..] Read the original article: here.

Wall Street ends week up despite unemployment rate increase

NEW YORK – US stocks produced gains Friday, ending the week in the black, despite an increase in the jobless rate that had pushed shares down earlier in the day.

The US unemployment rate climbed to 9.8 percent in November, the Labour Department reported, sharply denting hopes that the labour market was beginning to recover … Read : Wall Street ends week up despite unemployment rate increase.

US Fed’s Bernanke won’t rule out more monetary interventions

WASHINGTON – Federal Reserve Chairman Ben Bernanke will not rule out more monetary interventions to prop up the struggling US economy, according to details of an interview released by broadcaster CBS Friday.

The US central bank in November announced a controversial plan to buy up $600 billion in government bonds over the coming eight months. …. Source  : Gaea News Network.

US, South Korea reach tentative deal on free-trade agreement

WASHINGTON – The US and South Korea Friday reached a tentative deal on a long-stalled free-trade agreement, according to the top US trade official.

US Trade Representative Ron Kirk and Korean Minister for Trade Kim Jong-hoon had worked out their differences during a meeting in the US state of Maryland and were ready for the … Read more >>.

Obama Denies New Drilling Area To Big Oil

WASHINGTON (GaeaTimes.com) — President Obama’s announcement that new areas along the east coast and the gulf of Mexico for new drilling project has raise quite a few environmentalist’s eyebrows. The skepticism was not unfounded since after that the oil spill ensued. Now that White House tries to do a volte face. Since the oil … Read this article on Gaea Times at : Obama Denies New Drilling Area To Big Oil.

US unemployment climbs to 9.8 percent

WASHINGTON – The US unemployment rate climbed to 9.8 percent in November, the Labour Department reported Friday, sharply denting hopes that the labour market was beginning to recover after months of stagnation.

The jobless rate is the highest since April. The department said just 39,000 jobs were added during the month, compared to a revised …. Source article  : US unemployment climbs to 9.8 percent.

Mirant Corp. and RRI Energy Inc Merger Finalized, GenOn Energy is Born

HOUSTON (GaeaTimes.com) — Energy major Mirant Corp. and RRI Energy Inc. announced their merger on Friday. As a result a new entity called GenOn Energy Inc. is created. Shares of the formed entity will begin trading on Monday under the symbol “GEN”. Mirant, the Atlanta based company agreed to buy out the RRI energy …. Read the original article  : Mirant Corp. and RRI Energy Inc Merger Finalized, GenOn Energy is Born.

Small Business Sees Growth On Payroll, Economists Cautious

NEW YORK (GaeaTimes.com) — The small Business in the US are very excited about the payroll growth for the first time in almost 2-1/2 years this November. A survey report published by the National Federation of Independent Business claimed the above facts. It also said an average firm increase of 0.1 work in the [..] Read the original article: here.

Regional security, development to feature in GCC summit

CAIRO – Leaders of the Gulf Cooperation Council (GCC) countries are set to meet next week in the United Arab Emirates capital Abu Dhabi, where the bloc was founded about 30 years ago.

The leaders are expected to discuss a wide range of issues concerning regional security and development at the upcoming 31st GCC summit, …. Original source  : Regional security, development to feature in GCC summit.

Dollar Bows Under Heavy Pressure Of Unemployment

NEW YORK (GaeaTimes.com) — The dollar today was notably lower than the Euro and Yen. The data shows that even as the US services sector grew during the period on November, the factory order was conspicuous by its poor performance this October.
The Euro stood at $1.3352 on Friday, the value was notable greater by … Read more : Dollar Bows Under Heavy Pressure Of Unemployment.

Federal Spending Cut Plan Rejected

WASHINGTON (GaeaTimes.com) — The Deficit Panel today rejected the sweeping reform plan. The US tax code was unsuccessful in gathering enough votes from the 18-member presidential panel.
By this development on Friday it was clear that the the Republicans and Democrats had differences about the procedure to see the economy, during this tough time. The … Read more : Federal Spending Cut Plan Rejected.

European pressurised reactors costlier, less efficient: expert

MUMBAI – A leading nuclear expert Friday questioned the wisdom of going in for the European pressurised reactors (EPRs) at the Jaitapur nuclear plant, especially since they generate four times more waste than the pressurised water reactors (PWRs).

Addressing a daylong seminar organised by groups like Konkan Bachao Andolan and Janhit Seva Samiti opposing the …. Original article on Gaea Times at  : European pressurised reactors costlier, less efficient: expert.

TRAI rules out compensation for number portability

NEW DELHI – The telecom regulator Friday dismissed mobile companies’ contention that they should be paid for allowing subscribers to shift from one network to another using mobile number portability.

In an order issued late Friday, the Telecom Regulatory Authority of India (TRAI) also reprimanded companies for charging high cost for sending messages on … Read the original article on Gaea Times at : TRAI rules out compensation for number portability.

Wealth divide gets wider in China

BEIJING – The gulf between the rich and the poor has widened in China even as five percent of the country’s total population now have annual incomes of at least 300,000 yuan (about $45,000) after tax.

Results of the study carried out in more than 10 major cities show about 50 million Chinese have passed … Original article on : Wealth divide gets wider in China.

British shops to be stopped from selling provocative items

LONDON – Retailers in Britain would be told to stop selling “highly sexualised products” including T-shirts that bear provocative slogans like “Want me, need me, love me”, a media report said Sunday.

A government inquiry has been launched that will examine whether shops should be prevented from selling inappropriate items to pre-teens and children, such … Original article on : British shops to be stopped from selling provocative items.

Nepal’s Maoists fail to bring economy under state control

KATHMANDU – The battle by Nepal’s former Maoist guerrillas to push for a new economical model next year in which the state would control economy and all resources with the private sector was defeated Sunday with the major ruling parties thumbing down the proposal.

Giving in to pressure, the opposition party has now agreed to … Read more »»».

Teenagers obsessed with mobile phones: Survey

NEW DELHI – Teenagers are obsessed with mobile phones and carry them to schools, tution centres and other public places, a study released here Sunday said.

The study, conducted by the Associated Chambers of Commerce and Industry of India (Assocham), attributed this to socio-economic factors such as excess pampering by parents, easy access to pocket … Read more >>>.

This time, mobile phone users hope for real relief from pesky calls

NEW DELHI – Dheeraj Kumar, a real esate broker here and frequent traveller, finally hopes he will be spared from the unwanted calls from tele-marketing firms and the hole they burn in his wallet following new norms announced by the telecom watchdog.

Experts also agree that this time the penalty on errant companies that can … Original source on Gaea Times at : This time, mobile phone users hope for real relief from pesky calls.

India more important market than Pakistan: Afghan minister

CHANDIGARH – Afghanistan, ravaged by years of war, considers the Indian market more lucrative than Pakistan and wants both Indian expertise and investment in restructuring its agriculture and trade, an Afghan minister said here.

“India and Pakistan are major business partners for Afghanistan but we are more focused on India as it is … Original source on Gaea Times at : India more important market than Pakistan: Afghan minister.

Brand Bewakoof rings success in Jharkhand town

GIRIDIH – What’s in a name? Had legendary playwright Shakespeare posed this question in Jharkhand’s Giridih town, he would have got a collective reply – “everything”. Because not only has the word ‘bewakoof’ (stupid) made many a fortune here, it also commands an unflinching loyalty.

Within 20 metres of Court Road there are six Bewakoof …. Original article  : Brand Bewakoof rings success in Jharkhand town.

Apple updates iPhone operating system

CUPERTINO – The newest version of the operating system that powers iPhones, iPads and the iPod touch – iOS 4.2 – is ready for installation.

IPad users will notice the biggest changes, since this is the first ever update for that machine’s operating system. It will allow multitasking on the tablet computer, so multiple applications …. Source article on Gaea Times at  : Apple updates iPhone operating system.

Farm-reliant Ethiopia is fertile for India Inc: Dy Prime Minister (Interview)

NEW DELHI – Ethiopia not only seeks Indian investment but also offers itself as a base for import of farm and industrial goods produced there for a partnership that can help both the countries, says the east African country’s Deputy Prime Minister Hailemariam Desalegn.

Choosing India for his first overseas visit after being appointed a … Read this article on Gaea Times at : Farm-reliant Ethiopia is fertile for India Inc: Dy Prime Minister (Interview).

BlackBerry buys Swedish software developer

TORONTO – BlackBerry maker Research In Motion (RIM) is buying Sweden’s The Astonishing Tribe (TAT) which specializes in developing software that lets smart phone users personalize their device the way they like.

The unique software designed by TAT is found on 15 percent of all smart phones globally. By downloading the TAT software, even those … Original article on : BlackBerry buys Swedish software developer.

Snow grounds over 325 flights in Chicago

CHICAGO – Over 325 flights were cancelled at Chicago’s O’Hare International Airport due to heavy snowfall Saturday morning, reports Xinhua.

Flights in and out of O’Hare have also been delayed by about 30 minutes, Chicago Department of Aviation said.
Aviation officials are advising travellers to check their airlines’ website to find out the status of … Read this article on Gaea Times at : Snow grounds over 325 flights in Chicago.

On course to reach tax revenue target: Pranab

KOLKATA – The government is on course to reaching its target of mopping up direct tax revenue of Rs 4.30 lakh crore this year, Finance Minister Pranab Mukherjee said Saturday.

“Following the rationalisation of direct tax rates, the government is progressing well towards its target of collecting direct taxes of Rs 4.30 lakh crore this …. Source article  : On course to reach tax revenue target: Pranab.

Sarkozy’s Taj trip hustles tourists out

AGRA – Thousands of foreign and domestic tourists were asked to leave the precincts of the Taj Mahal just before French President Nicolas Sarkozy and his wife Carla Bruni came to visit the hitoric monument Saturday. Many others could not even enter though holding valid tickets.

“We came here from Sholapur on Thursday. …. Source  : Gaea News Network.

Mahindra, Italian firm tie-up for farm equipment

CHANDIGARH – The farm equipment wing of automobile giant Mahindra and Mahindra Saturday announced its tie-up with Italian company Maschio-Gaspardo, a leading global brand manufacturing rotary tillage equipment.

As a result of this partnership, Mahindras AppliTrac business will receive an exclusive supply of a complete range of rotary tillage equipment from Maschio-Gaspardo, company officials said …. Source article  : Mahindra, Italian firm tie-up for farm equipment.

DGCA asks airlines to be reasonable, transparent on airfares

NEW DELHI/BANGALORE – Aviation regulator, Directorate General of Civil Aviation (DGCA) Saturday said the airline industry should be reasonable and transparent on the air fare pricing issue.

“We have asked the airlines to be reasonable about their demands and to be transparent about their bucket seats,” said newly-appointed DGCA director, E.K. Bharat Bhushan after …. Original article on Gaea Times at  : DGCA asks airlines to be reasonable, transparent on airfares.

ICICI Bank hikes lending, deposit rates

MUMBAI – ICICI Bank, the country’s largest private sector lender, said Saturday it will raise its lending as well as deposit rates by up to 50 basis points effective Dec 6 on the back of tightening monetary policy by the country’s central bank.

The bank will increase interest rates for various tenors of retail fixed …. Original article on Gaea Times at  : ICICI Bank hikes lending, deposit rates.

Sarkozy wants more Indians to learn French

BANGALORE – French President Nicolas Sarkozy Saturday hoped that more and more Indians would learn to speak French and know about his country.

“French companies in India employ nearly 200,000 people and this number is expected to continue to rise. But how many of them were trained in France and do they speak French,” Sarkozy … Original source on Gaea Times at : Sarkozy wants more Indians to learn French.

Spain declares emergency to beat off wildcat air strike

MADRID – The Spanish government Saturday decreed a state of emergency, in an attempt to force air controllers staging a wildcat work protest to return to work immediately.

If the air controllers refused, they would face being prosecuted for disobedience under military law, Deputy Prime Minister and Interior Minister Alfredo Perez Rubalcaba said.
The government …. Source  : Spain declares emergency to beat off wildcat air strike.

Pawar favours introducing GM crops in India

CHANDIGARH – Ignoring criticism from various quarters, Agriculture Minister Sharad Pawar Saturday strongly favoured the introduction of Genetically Modified (GM) food crops in the country to ensure food security.

Pawar, who was here to inaugurate the ninth edition of Agro Tech 2010, said that GM food crops are necessary to meet the increasing demand of …. Original source  : Pawar favours introducing GM crops in India.

‘Filthy, expensive Goa no longer attracts German tourists’

PANAJI – Goa is no longer a favoured tourist destination for Germans because it is “expensive and dirty”, the Indo-German Friendship Society Goa (IGFSG) said Saturday.

Speaking to reporters here at a press conference called to announce a weeklong celebration to mark the arrival of the first German hippies to Goa sixty years ago, … Read the original article on Gaea Times at : ‘Filthy, expensive Goa no longer attracts German tourists’.

Sex ratio, literacy rate of Tibetans-in-exile up: survey

DHARAMSALA – The sex ratio, literacy rate and population of the Tibetans-in-exile have increased in the past 11 years, said a report released here Saturday.

The sex ratio for Tibetan population in exile has gone up. Its presently 798 females for 1,000 males against 792 in 1998, said the planning commission of the central Tibetan …. Source  : Gaea News Network.