Business News – Newsletter for December 13, 2010

China allays India’s concerns over trade deficit

NEW DELHI – Ahead of Chinese Premier Wen Jiabao’s visit, China Monday allayed India’s concerns over the widening trade deficit, estimated to be $19.2 billion, and pitched for greater business and investment, including opening of Chinese banks in India.

“China does not purposely seek trade surplus with other countries. In the long run, a …. Source article  : China allays India’s concerns over trade deficit.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on December 13, 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.

Helicopter services in Manipur soon for better communication

IMPHAL – Manipur will soon introduce helicopter services to improve communication between state capital Imphal and the mountainous and plain areas of the northeastern state, officials said here Monday.

Manipur, bordering Myanmar, is the sixth northeastern state in India which has introduced chopper services to develop faster communication between various regions.
The government-owned helicopter service …. Read the original article  : Helicopter services in Manipur soon for better communication.

Sensex slips into the red

MUMBAI – All round selling saw a benchmark index of Indian equities falling into the red Monday, although broader market indices maintained to hold on to early gains.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,600.28 points, was ruling at 19,409.64 points, up 93.99 points or 0.48 percent …. Original article on Gaea Times at  : Sensex slips into the red.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.25 and the Reference Rate for Euro is ` 59.69 on December 13, 2010. The corresponding rates for the previous day (December 10, 2010) were ` 45.22 and ` 59.99 respectively. Based on the Reference Rate for …. Source article on Gaea Times at  : RBI Reference Rate for US $ and Euro.

Sensex moves up after weak start

MUMBAI – A benchmark index of Indian equities crept into the green after a weak start Monday morning.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,600.28 points, was ruling at 19,546.94 points, up 38.05 points or 0.2 percent from its previous close at 19,508.89 points.
It had fallen … Read more : Sensex moves up after weak start.

Money Market Operations as on December 10, 2010

…. Source  : Gaea News Network.

Weaker yen, rise on Wall Street give boost to Japanese stocks

TOKYO – Japanese stocks rose in Monday morning trading after the yen weakened against the dollar and shares on Wall Street rose.

The Nikkei 225 Stock Average was up 14.69 points, or 0.14 percent, to trade at 10,226.64 while the broader Topix index saw a 1.83-point, or 0.21-percent, increase to 890.05.
In the US, a …. Source  : Gaea News Network.

Dubai World gets new board of directors

DUBAI – Dubai World, one of the UAE’s most troubled investment concerns, announced Sunday that it had received a new board of directors to oversee the company’s strategies and financial affairs.

Sheikh Mohamed bin Rashed, the ruler of Dubai, appointed the new board which will be lead by Ahmed bin Saeed al-Maktoum, head of Dubai’s … Read more »»».

Himachal farmers kill monkeys to save crop

SHIMLA – Ignoring criticism by animal lovers, farmers in Himachal Pradesh have killed over 50 monkeys in the past two days to save their crops, a member of a peasants’ group said Sunday.

The Kheti Bachao Sangharsh Samiti (KBSS), a farmers’ outfit that took the initiative to motivate farmers take up guns against wild animals, …. Source article on Gaea Times at  : Himachal farmers kill monkeys to save crop.

India, Belgium trade to go beyond diamonds

ON BOARD AIR INDIA ONE – India and Belgium want to diversify their trade ties – currently dominated by diamonds – in sectors like IT, energy and infrastructure development, a senior official said Sunday.

(Indian) Prime Minister (Manmohan Singh) and his Belgian counterpart (Yves Leterme) want to diversify the bilateral trade, said Secretary (west) in …. Read the original article  : here.

Arpita Singh sets record as art mart booms again

NEW DELHI – The boom is back in the auction market. With Arpita Singh’s “Wish Dream” mural selling at Rs.9.6 crore ($2.24 million) – a record for an Indian woman artist – experts say quality and rarity are once again winning over the “square inch”.

With prices of art stabilising, buyers are willing to …. Original article on Gaea Times at  : Arpita Singh sets record as art mart booms again.