Business News – Newsletter for December 12, 2010

Sunday, December 12, 2010

India, Germany set ambitious trade target

BERLIN – India and Germany, economic powerhouses of Asia and Europe and “strategic partners”, have pledged to expand trade ties and increase the two-way business to 20 billion euros by 2012 – a quantum jump from the current 13 billion euros. Germany is India’s largest business partner in Europe.

Following a meeting in snow-covered … Read the original article on Gaea Times at : India, Germany set ambitious trade target.

78,000 tonnes of garbage collected from Three Gorges Dam

BEIJING – Sanitation workers have collected 78,000 tonnes of garbage from China’s Three Gorges Dam, the world’s largest hydro-power project on the Yangtze river in the country’s southeast.

More than 68,000 workers and 21,000 boats were used to collect the garbage, Xinhua reported.
The surface area of the water in the dam has increased after … Read more >>>.

Two mn Bolivians suffer severe hunger: UN

La Paz, Dec 12 (IANS/EFE) Two million Bolivians – one out of every five inhabitants – suffers “severe hunger”, the representative of the UN’s Food and Agriculture Organization (FAO) in La Paz said in a statement.

According to Elisa Panades, the number of people suffering from severe food deprivation in this Andean country increased over [..] Read the original article: here.

Finnair to donate to UNICEF campaign for Indian children

NEW DELHI – Nordic carrier Finnair said it would donate US 50 cents to a UNICEF campaign on behalf of Indian children for every new addition to its Facebook account as part of its “change for good” campaign.

UNICEF (United Nations Children’s Fund) works for child rights, their survival, development and protection.
Finnair tied-up with … Read more >>>.

India-Africa ties in ‘transformational phase’

NEW DELHI – India’s ties with Africa are in a “transformational phase” and its efforts are radically different from what any other country is doing in the vast and quickly changing continent, a senior official said here.

The Indian government’s challenge was to convert warm political relations with the 53-nation continent into productive economic ties, … Read more : India-Africa ties in ‘transformational phase’.

Telecom sector needs policy certainty: Assocham president (Interview)

NEW DELHI – Even though the Indian telecom industry is growing the fastest in the world, a stable policy framework is crucial to maintain the expansion and avoid scams like the one over allotment of airwaves, says the new chief of a top industry lobby.

“What’s important for any industry is there is a policy … Read : Telecom sector needs policy certainty: Assocham president (Interview).

Railways to install fog safety devices

NEW DELHI – Northern Railway will install 500 fog safety devices in trains touching the national capital to ensure safety and avoid delays during winters when visibility deteriorates sharply, according to its spokesperson.

“We have already placed an order of 500 fog safety devices. These will be installed by the end of this month …. Read the original article : here.

Four-nation gas deal signed in Turkmenistan

ASHGABAT – India, Turkmenistan, Afghanistan and Pakistan signed two cooperative pacts Saturday on a gas pipeline project linking the four countries.

The four nations signed an inter-government agreement on the Turkmenistan-Afghanistan-Pakistan-India (TAPI) Natural Gas Pipeline Framework, as well as a deal on measures to implement the project in Ashgabat, the capital of Turkmenistan, Xinhua reported. … Original source on Gaea Times at : Four-nation gas deal signed in Turkmenistan.

‘Over Rs.23,000 crore raised in private equity deals in 2010???

KOLKATA – Private equity deals raised between Rs.23,000 crore to Rs.24,000 crore in India this year compared to Rs.14,000 crore in 2009 (calendar year), market analysts said here Saturday.

“This calendar year, private equity deals have risen to between Rs.23,000 to Rs.24,000 crore than last years Rs.14,000 crore,” said Utsav Parekh, chairman, Smifs Capital Markets …. Original article on Gaea Times at : ‘Over Rs.23,000 crore raised in private equity deals in 2010′.

State-run, private Indian firms tie up for Africa projects

NEW DELHI – The state-run Engineering Projects India (EPI) Saturday signed an agreement with Universal Empire Infrastructures Limited (UEIL) to secure high value infrastructure development projects in Africa and South Asia.

“Indian private and public enterprises are joining hands as they eye business opportunities, and also to compete against China’s rapid forays in infrastructure … Read more >>>.

Insurance fund for road accident victims facing deficit

CHENNAI – The system of paying third-party liability claims in road accidents out of a common premium pool is likely to continue in the future while the corpus is running into a deficit, said the Indian insurance regulator Saturday.

In a motor insurance contract, the insurer and the policy holder are the first and second …. Original article on Gaea Times at : Insurance fund for road accident victims facing deficit.

Rains wash off paddy worth millions in Orissa

BHUBANESWAR – Incessant unseasonal rains since Monday have destroyed paddy crop worth millions of rupees in Orissa, an official said Saturday.

“Most parts of the state have witnessed widespread rains, and as a result winter paddy crops stored in the fields have been damaged,” an official of the state agriculture department told IANS.
The worst-hit …. Original source : Rains wash off paddy worth millions in Orissa.

Are low health premiums viable, asks insurance regulator

CHENNAI – The Insurance Regulatory and Development Authority (IRDA) Saturday expressed its concern at the low premium charged by some government health insurance schemes and the rampant undercutting of rates by public sector general insurers.

“The premium rate per head under the Arogyasri scheme (in Andhra Pradesh) has come down to Rs.75 per head from … Read more : Are low health premiums viable, asks insurance regulator.

I will prove my innocence, says Raja; meets Karunanidhi

CHENNAI – Former union communications minister A. Raja, under the Central Bureau of Investigation (CBI) scanner for alleged impropriety in the allocation of telecom spectrum licenses to mobile phone companies, met DMK party chief and Tamil Nadu Chief Minister M. Karunanidhi Saturday at his official residence here.

The meeting assumes significance as Karunanidhi, who had [..] Read the original article: here.

Wipro bags outsourcing deal from Vasan Eye Care

BANGALORE – Indian infotech giant Wipro Saturday said it won a five-year outsourcing contract from Vasan Eye Care, a unit of Tamil Nadu-based Vasan Healthcare group.

The scope of service includes entire IT infrastructure management, encompassing data centre management and end-user support services, Wipro vice-president for managed IT services Kiran Desai said in a statement … Original article on : Wipro bags outsourcing deal from Vasan Eye Care.