Business News – Weekly Newsletter for December 13-20, 2010
Monday, December 20, 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.
Nitin Seth is Ashok Leyland’s executive director
CHENNAI – Nitin Seth has been appointed as the executive director of Ashok Leyland’s light commercial vehicles (LCVs) division, the company announced here Tuesday.
Seth, formerly with Tata Motors, will work closely with the Ashok Leyland-Nissan Motor Company joint venture to roll out LCVs.
According to the company statement, Seth will operate under the direction …. Read the original article : here.
‘ICT can reduce 10 percent of greenhouse gas emissions’
NEW DELHI – Information, Communication and Technology (ICT) solutions have the potential to reduce 10 percent of the country’s total greenhouse gas (GHG) emissions by 2030 — thereby leading to energy cost savings of around Rs.137,000 crore (Rs.1.37 trillion) per annum, a report released here Tuesday said.
The report — titled “ICT Contribution to …. Original source : ‘ICT can reduce 10 percent of greenhouse gas emissions’.
Minister denies Kannur airport stake allotment
THIRUVANANTHAPURAM – Kerala Tourism and Home Minister Kodiyeri Balakrishnan Tuesday denied making any allotment of shares in the proposed Kannur international airport.
The paperwork has begun with regard to the allotment of shares. Initially at the time of talks, a few private sector players wanted 74 percent. When it was said that would not be …. Original article : Minister denies Kannur airport stake allotment.
Bangladesh workers resume production as Hasina gets tough
DHAKA – Production partially resumed in garment factories in Bangladesh Tuesday as Prime Minister Sheikh Hasina ordered tough action against the agitators in a bid to end violence that has left four people dead.
Hasina also ordered the setting up of two committees to look into the implementation of the new wage structure formulated …. Read the original article : Bangladesh workers resume production as Hasina gets tough.
Reliance Communications Launching 3G Service
MUMBAI, INDIA (GaeaTimes.com)- Reliance Communications which is one of the top mobile network service providers in India has launched its 3G service in Kolkata, Delhi, Chandigarh and Mumbai. It is the second private operator after Tata Docomo to roll out 3G Mobile service in India. The 3G service will gradually be rolled out … Read the original article on Gaea Times at : Reliance Communications Launching 3G Service.
RBI Reference Rate for US $ and Euro
The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.01 and the Reference Rate for Euro is ` 60.31 on December 14, 2010. The corresponding rates for the previous day (December 13, 2010) were ` 45.25 and ` 59.69 respectively. Based on the Reference Rate for …. Read the original article : RBI Reference Rate for US $ and Euro.
India’s annual inflation drops to 7.48 percent in November
NEW DELHI – India’s annual rate of inflation based on wholesale prices fell to 7.48 percent in November compared to 8.58 percent in the previous month, although the indices for three major constituent commodity groups registered a rise, according to official data released Tuesday.
The continued fall in overall inflation will help the cause of … Original source on Gaea Times at : India’s annual inflation drops to 7.48 percent in November.
Punjab aims to develop Amritsar as expo hub
AMRITSAR – It is famous as the Sikh holy city, but Amritsar could soon come to be known as a trade expo hub. After nearly 300,000 footfalls at an international trade exhibition, Punjab now plans to set up a permanent convention centre here on the lines of Delhis Pragati Maidan.
Deputy Chief Minister Sukhbir …. Source : Punjab aims to develop Amritsar as expo hub.
Sensex moves up in noon trade
MUMBAI – A benchmark index of Indian equities Tuesday rose in noon trade with broader markets managing to hold on to early gains.
The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,746.75 points, was ruling at 19,797.36 points – up 105.58 points or 0.54 percent from its previous close …. Read the original article : Sensex moves up in noon trade.
American Airlines Checking Boeing 757s
FORT WORTH (GaeaTimes.com)- American Airlines is going to thoroughly check a majority of its total Boeing 757 fleet as it has said in a statement. It decided to perform the check in 87 of its aircrafts belonging to the range after one plane in its fleet developed a gaping hole while it was …. Source article : American Airlines Checking Boeing 757s.
Mumbai’s Engineering Hub building to be ready by June
MUMBAI – The Engineering Hub building of Mumbai, housing offices of all the engineering departments of the city, will be operational by June 2011, an official said Tuesday.
The municipal headquarter in Chhatrapati Shivaji Terminus is a heritage building. The upcoming Engineering Hub too will be an architectural marvel, said Rahul Shevale, chairman of Brihanmumbai …. Source article : Mumbai’s Engineering Hub building to be ready by June.
Liquidity Adjustment Facility : Auction Results
The results of the RBI Repo/Reverse Repo auctions held on December 14, 2010 are:
Amount (face value in ` crore)
Item
1 day Reverse Repo Auction
(Sale of securities by RBI)
1 day Repo Auction
…. Original source : Liquidity Adjustment Facility : Auction Results.
I’m aware of corporate nervousness over phone tapping: PM
NEW DELHI – Prime Minister Manmohan Singh Tuesday said he was aware of the “nervousness in the corporate sector” over phone tapping and asked Cabinet Secretary K.M. Chandrasekhar to look into the matter and submit a report within a month.
“I am aware of the nervousness in the corporate sector arising out of the powers …. Read the original article : here.
Aware of corporate nervousness over phone tapping: PM
NEW DELHI – Stating that he was aware of the “nervousness in the corporate sector” over phone tapping, Prime Minister Manmohan Singh Tuesday asked Cabinet Secretary K.M. Chandrasekhar to look into the matter and submit a report within a month.
I am aware of the nervousness in the corporate sector arising out of the powers …. Source : Gaea News Network.
Sensex ruling dull in morning trade
MUMBAI – A benchmark index of Indian equities was ruling dull in morning trade Tuesday.
The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,746.75 points, was ruling at 19,728.67 points – up 36.89 points or 0.2 percent from its previous close at 19,691.78 points.
At the National Stock Exchange … Read the original article on Gaea Times at : Sensex ruling dull in morning trade.
Bolivia to buy satellite from Chinese firm
La Paz, Dec 14 (IANS/EFE) The Bolivian government and China Great Wall Industry Corporation moved a step closer to finalising a deal for Bolivia’s first communications satellite with the signing here Monday of a purchase agreement.
Talks on the prospective Tupac Katari satellite, named after the leader of an 18th century rebellion against the Spanish, … Read more : Bolivia to buy satellite from Chinese firm.
Home sales dip in Spain
Madrid, Dec 14 (IANS/EFE) Home sales fell 17.7 percent year-on-year to 27,198 units in Spain in October, hitting the lowest level since January 2007, authorities said.
The October figures indicate that the downward trend in sales that started in September, ending eight months of rising sales, has not changed, said the National Statistics Institute, or … Read the original article on Gaea Times at : Home sales dip in Spain.
Tokyo shares flat on profit-taking
TOKYO – Japanese stocks were flat in Tuesday morning trading as the yen’s advance weighed on the market and investors sold shares to lock in profits after recent gains.
The Nikkei 225 Stock Average was up 0.08 points to 10,293.97 while the broader Topix index was up 1.49 points at 898.89 after the Nikkei ended …. Read the original article : Tokyo shares flat on profit-taking.
Money Market Operations as on December 13, 2010
… Read more >>.
US stocks mixed as Obama’s tax plan inches forward
NEW YORK – US stocks erased gains from earlier Monday as President Barack Obama’s compromise tax cut plan with Republicans appeared poised to pass the Senate.
The Standard & Poor’s 500 Index had rallied earlier after China refrained from raising interest rates. But investors were restless over the uncertainty of tax cuts slated to expire …. Read the original article : here.
91 day Treasury Bills : Auction Result
Date of Auction : December 15, 2010
I.
Notified Amount
` 2000.00 crore
II.
Underwriting notified amount
N.A.
III.
Competitive Bids received
(i)
Number
89
(ii)
Amount
` 7406.25 crore
IV.
Cut-off price
` 98.24 (YTM is 7.1858%)
V.
Competitive bids accepted
(i)
Number
42
(ii)
Amount
` 2000.00 crore
VI.
Partial Allotment Percentage of Comp. Bids
13.49 (15 Bids)
VII.
Weighted Average Price
` 98.25
VIII.
Non-competitive bids received
(i)
Number
2
(ii)
Amount
` 3000.00 …. Source : 91 day Treasury Bills : Auction Result.
364 day Treasury Bills : Auction Result
Date of Auction : December 15, 2010
I.
Notified Amount
` 1000.00 crore
II.
Underwriting notified amount
N.A.
III.
Competitive Bids received
(i)
Number
52
(ii)
Amount
` 4772.00 crore
IV.
Cut-off price
` 93.18 (YTM is 7.3393%)
V.
Competitive bids accepted
(i)
Number
12
(ii)
Amount
` 1000.00 crore
VI.
Partial Allotment Percentage of Comp. Bids
60.61 (4 Bids)
VII.
Weighted Average Price
` 93.20
VIII.
Non-competitive bids received
(i)
Number
Nil
(ii)
Amount
Nil
IX.
Non-competitive bids accepted
(i)
Number
Nil
(ii)
Amount
Nil
(iii)
Partial Allotment Percentage
Nil
Ajit … Read more >>.
Sensex slips to day’s low
MUMBAI – A benchmark index of Indian equities slipped to its day’s low about 45 minutes before the closing bell as selling intensified in realty and banking stocks and spread across the market.
The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,791.22 points, was ruling at 19,596.63 – down … Read more »»».
‘China has high expectations from Premier Wen’s India visit’
NEW DELHI – A top Chinese official says Beijing has high expectations and attaches significant importance to the three-day India visit of Premier Wen Jiabao, who arrived here Wednesday with top officials and 400-strong team of business leaders.
“China-India relations are significant. The leaders of both nations agree the world has enough space for the …. Original article : ‘China has high expectations from Premier Wen’s India visit’.
Polo prices up by 2.9 percent from Jan 1
MUMBAI – German automobile major Volkswagen’s Indian subsidiary Wednesday said it would increase the price of its popular selling hatchback car model Polo by 2.9 percent from Jan 1, 2011.
According to the company, the hike in prices comes as the car manufacturer was facing a rise in input cost like components in the past … Read this article on Gaea Times at : Polo prices up by 2.9 percent from Jan 1.
TAPI pipeline to India could be pipedream: Pakistani daily
ISLAMABAD – The Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline “could remain a pipedream for years”, a leading Pakistani daily said Wednesday while admitting that it was “a good project – on paper”.
An editorial in Dawn Wednesday said: “TAPI could remain a pipedream for years, for it is linked to a final peace settlement in Afghanistan and … Read more >>>.
Bihar to generate additional 3,960 MW of power
PATNA – Power-starved Bihar is to set up three new thermal power plants to generate 3,960 MW of energy, an official said Wednesday.
The plants, of 1,320 MW each, will be set up at Kajra in Lakhisarai, Piparpainti in Bhagalpur and Chusa in Buxar districts, an energy department official said.
While the state has … Read : Bihar to generate additional 3,960 MW of power.
Sensex down 73 points in afternoon trade
MUMBAI – A benchmark index of Indian equities was ruling weak in afternoon trade Wednesday. Broader markets too saw some selling amid dull cues from other Asian bourses.
The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,791.22 points, was ruling at 19,725.97 – down 73.22 points or 0.37 …. Read the original article : here.
Liquidity Adjustment Facility : Auction Results
The results of the RBI Repo/Reverse Repo auctions held on December 15, 2010 are :
Amount (face value in ` crore)
Item
1 day Reverse Repo Auction (Sale of securities by RBI)
1 day Repo Auction
… Read more : Liquidity Adjustment Facility : Auction Results.
RBI Reference Rate for US $ and Euro
The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.32 and the Reference Rate for Euro is ` 60.27 on December 15, 2010. The corresponding rates for the previous day (December 14, 2010) were ` 45.01 and ` 60.31 respectively. Based on the Reference Rate for US …. Original article : RBI Reference Rate for US $ and Euro.
Fiat to build $1.7 bn car factory in Brazil
Rio de Janeiro, Dec 15 (IANS/EFE) Fiat SpA has announced that it plans to invest 3 billion reais ($1.7 billion) to build a second plant in Brazil, the carmaker’s No. 2 market after its native Italy.
The new factory will be located in the industrial complex in Suape, a port in the northeastern state of …. Original article : Fiat to build $1.7 bn car factory in Brazil.
Ecopetrol makes new oil find in Colombia
Bogota, Dec 15 (IANS/EFE) State-owned Empresa Colombiana de Petroleos, or Ecopetrol, said it found oil at a new well in central Colombia, raising the number of new petroleum discoveries this year to seven.
The well is located in Meta province and is included in the Cao Sur exploration and production contract, the company said in … Read more >>>.
IMF likely to expand credit line for Mexico
Mexico City, Dec 15 (IANS/EFE) The International Monetary Fund (IMF) is likely to approve Mexico’s request to increase to $73 billion the flexible credit line the institution created last year for Latin America’s No. 2 economy, IMF Managing Director Dominique Strauss-Kahn said here Tuesday.
The matter will be promptly taken up by the IMF executive …. Original source : IMF likely to expand credit line for Mexico.
Ministerial panel to decide diesel price hike Dec 22
NEW DELHI – A ministerial panel under Finance Minister Pranab Mukherjee meets here Dec 22 to take a call on allowing state-run fuel retailers to hike the prices of diesel, with crude oil now costing around $90 per barrel in global markets.
“As far as petrol prices are concerned, the government has already de-regulated this …. Source : Gaea News Network.
Tokyo shares edge lower on profit-taking
TOKYO – Japanese stocks inched down in Wednesday morning trading as investors sold shares to lock in profits a day after the Nikkei 225 Stock Average ended at a fresh seven-month high.
The benchmark Nikkei was down 3.81 points, or 0.04 percent, to 10,312.96 while the broader Topix index was down 0.16 points, or … Original source on Gaea Times at : Tokyo shares edge lower on profit-taking.
Money Market Operations as on December 14, 2010
… Read more »».
CBI raids Radia, Raja’s relatives
NEW DELHI – The Central Bureau of Investigation (CBI) Wednesday raided the homes and offices of business lobbyist Niira Radia and relatives of former telecom minister A. Raja in Tamil Nadu over the spectrum row.
CBI Deputy Inspector General of Police Vinita Thakur said the New Delhi premises of former Telecom Regulatory Authority of India …. Original article : CBI raids Radia, Raja’s relatives.
Morgan Stanley Removes Apple From Its Best Ideas List
Apple Inc as a corporation can do no wrong. Or that was the popular investor perception as the company’s stock value sky rocketed to more than 50% from the start of the year. Analysts have also predicated more growth by the end of the financial year. However On Tuesday Morgan Stanley has decided to …. Original article on Gaea Times at : Morgan Stanley Removes Apple From Its Best Ideas List.
AIG Share Prices Locked at 2 Years High After Chairman talks Acquisition
AIG have been looking up since the news that the Treasury was planning on selling of 92% shares of the troubled company first broke. In a slow but gradual process the badges have returned to a place of pride on their employees shirts now after the company is seemingly going off from the life …. Read the original article : AIG Share Prices Locked at 2 Years High After Chairman talks Acquisition.
Americans Shun 3D TV, Best Buy Shares Tumble 14.8%
Americans might be spending quite a lot on their holidays as we reported recently but now it seems that Best Buy had learned that the customers are not willing to pay for something which they feel is expensive at the moment. Its promotion of the expensive 3D televisions have been largely ignored. The buyers …. Read the original article : Americans Shun 3D TV, Best Buy Shares Tumble 14.8%.
India wants more market access from China
NEW DELHI – India has sought more market access from China, Foreign Secretary Nirupama Rao said Thursday.
Rao told a news conference that there was a “big imbalance” in the trade between the two Asian giants and that India’s trade deficit was growing.
“We would like more market access,” she said, after the conclusion of … Read this article on Gaea Times at : India wants more market access from China.
India, China set trade target of $100 bn by 2015
NEW DELHI – India and China Thursday agreed to establish a strategic economic dialogue and set a new bilateral trade target of $100 billion by 2015 to bridge the trade deficit.
A joint communique was released after one hour of formal talks between Indian Prime Minister Manmohan Singh and visiting Chinese Premier Wen Jiabao. …. Read the original article : India, China set trade target of $100 bn by 2015.
Indian agency set to launch heaviest satellite for telecom, TV
CHENNAI – Scientists at the Indian Space Research Organisation (ISRO) were set to launch their heaviest satellite from near here Monday to retire an old one sent up in 1999 and ensure continuity of telecom, TV and weather services, officials said.
The satellite, officially called GSAT-5P, will blast off on the state-run space agency’s
…. Source : Gaea News Network.
Tripura, Mizoram facing shortage of food grain
AGARTALA/AIZAWL – Tripura and Mizoram are facing a food crisis as the Food Corporation of India (FCI) has not supplied the allocated quota of food grain to the two states, officials said Thursday.
“In view of the inadequate railway wagons and feeble tracks of NFR (Northeast Frontier Railways), the FCI is unable to supply food …. Original article : Tripura, Mizoram facing shortage of food grain.
India’s food inflation rises for second week
NEW DELHI – India’s annual food inflation rose for the second consecutive week, to 9.46 percent for the week ended Dec 4, as prices of food items like milk, poultry and fruits continued to rule high, official data release Thursday showed.
The food inflation rate, based on the official wholesale price index, had dropped to …. Original article on Gaea Times at : India’s food inflation rises for second week.
RBI Reference Rate for US $ and Euro
The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.39 and the Reference Rate for Euro is ` 60.05 on December 16, 2010. The corresponding rates for the previous day (December 15, 2010) were ` 45.32 and ` 60.27 respectively. Based on the Reference Rate for … Read : RBI Reference Rate for US $ and Euro.
India’s central bank marginally eases monetary policy
MUMBAI – With inflation on the decline, India’s central bank Thursday eased its monetary policy marginally by lowering the amount commercial banks have to retain as cash, gold or government bonds, to release more money for corporate lending.
At the same time, the Reserve Bank of India (RBI) also announced it will buy government securities … Read more »»».
Mid-Quarter Monetary Policy Review: December 2010
Monetary Measures
It has been decided to:
retain the repo rate at 6.25 per cent and the reverse repo rate at 5.25 per cent under the Reserve Bank’s liquidity adjustment facility (LAF);
retain the cash reserve ratio (CRR) at 6.0 per cent of net demand and time liabilities (NDTL) of scheduled banks.
Liquidity …. Source : Gaea News Network.
RBI Announces OMO Purchase of Government Securities
As indicated in the Mid-Quarter Monetary Policy Review of December 2010 released today, the Reserve Bank shall conduct Open Market Operation (OMO) auctions for purchase of government securities for an aggregate amount of ` 48,000 crore in the next one month. The OMO purchase auctions of ` 12,000 crore each will …. Original article : RBI Announces OMO Purchase of Government Securities.
ArcelorMittal set to buy Canadian iron ore company for $433 million
TORONTO – Unless a rival bidder emerges possibly from China by Monday, ArcelorMittal is set to take over Canada’s Baffinland Iron Mines for $433 million.
ArcelorMittal has already received a ‘no action’ letter from Canada’s Commissioner of Competition for its bid, clearing the way for its takeover of Baffinland until a rival bid emerges by … Read the original article on Gaea Times at : ArcelorMittal set to buy Canadian iron ore company for $433 million.
Liquidity Adjustment Facility : Auction Results
The results of the RBI Repo/Reverse Repo auctions held on December 16, 2010 are:
Amount (face value in ` crore)
Item
4 days Reverse Repo Auction
(Sale of securities by RBI)
4 days Repo Auction
…. Source : Liquidity Adjustment Facility : Auction Results.
India has allayed US concerns over nuclear liability
WASHINGTON – US concerns about India’s nuclear liability law have been addressed by New Delhi signing an international treaty and assuring a level playing field for US companies, says a senior official.
“I think they have been,” Assistant Secretary, Bureau of South and Central Asian Affair Robert Blake said in response to question during a … Original source on Gaea Times at : India has allayed US concerns over nuclear liability.
British media considers China a threat
BEIJING – Business leaders in Britain see China as a place of opportunity but the media and communication sectors still consider China a “threat”, a survey has revealed.
The survey done by KL Communications, a Chinese branding and corporate communications company based in Britain, was released this week.
It found business leaders in Britain are … Read more »».
Eco concerns land mega Himachal projects in jeopardy
SHIMLA – At least four hydropower and cement projects worth Rs.6,000 crore (over $1.3 billion) have got stuck in Himachal Pradesh in less than four months due to green concerns. Local people as well as environmentalists say these will gobble up a considerable chunk of forest land and cause immense damage to natural resources.
Cement …. Source article : Eco concerns land mega Himachal projects in jeopardy.
China’s GDP to hit $5.5 trillion in 2010: report
BEIJING – A Chinese government think-tank has said China’s economy in 2010 would grow 10 percent year-on-year with gross domestic product (GDP) reaching 37 trillion yuan ($5.56 trillion).
The Chinese Academy of Social Sciences (CASS) in its annual report, Blue Book of China’s Society, Wednesday noted that in 2010 China made great efforts to …. Original article on Gaea Times at : China’s GDP to hit $5.5 trillion in 2010: report.
Brazil takes steps to increase private lending
Brasilia, Dec 16 (IANS/EFE) Brazilian Finance Minister Guido Mantega has announced a set of measures designed to increase long-term lending by private banks and increase liquidity in capital markets.
Brazil’s BNDES development bank and other public institutions have provided the bulk of long-term credit since the global financial crisis prompted private lenders to draw back, …. Source : Brazil takes steps to increase private lending.
Tokyo stocks inch up on mixed bag of business news
TOKYO – Stocks in Tokyo rose modestly in Thursday morning trading as good news, including the yen’s drop against the dollar, mixed with concerns about European debt.
The benchmark Nikkei 225 Stock Average was virtually flat, rising 2.46 points, or 0.02 percent, to trade at 10,312.24 while the broader Topix index did better, gaining … Read more >>.
Money Market Operations as on December 15, 2010
… Read more >>.
US stocks drop over euro-zone concerns
NEW YORK – US stocks fell Wednesday as fresh concerns over Spain’s deficits overshadowed some positive US economic news.
Euro-zone debt concerns were fuelled as ratings agency Moody’s said it was reviewing Spain’s Aa1 sovereign credit rating for a possible downgrade, while Ireland’s parliament approved the country’s own bail-out package from the EU and International …. Read the original article : US stocks drop over euro-zone concerns.
Silicon Valley upbeat After Yahoo Cut Back, Nokia lays Off 700
Yesterday we reported how Yahoo had cut 700 jobs in order to save costs. New research data has shown that this action was an exception from the present situation of the Silicon Valley companies. According to industry reports a vast majority of the Silicon Valley companies are actively procuring talent.
Even blogs such as mashable …. Read the original article : here.
Chinese media harps on ties with India
BEIJING – The Sino-Indian pledge to promote bilateral ties was splashed across the Chinese media Friday, with reports emphasising the positives from the Manmohan Singh-Wen Jiabao meeting.
China’s official news agency Xinhua said in a report carried by state-run People’s Daily that Prime Ministers Wen and Manmohan Singh had reaffirmed their commitment to promote bilateral … Read the original article on Gaea Times at : Chinese media harps on ties with India.
Kannur airport nod in view of Keralites’ contribution: Patel
KANNUR – Civil Aviation Minister Praful Patel Friday said the central government sanctioned the Kannur airport despite some legal issues as non-resident Keralites contribute significantly to India’s overall growth with their remittances.
He was speaking at the foundation stone laying ceremony for the airport.
“People from Kerala make a group which contributes to the overall …. Source article : Kannur airport nod in view of Keralites’ contribution: Patel.
India, Russia to sign fifth generation fighter jet deal
NEW DELHI – India and Russia are set to sign over a dozen agreements, including a key pact on a fifth generation fighter aircraft and on expanding civil nuclear cooperation, during Russian President Dmitry Medvedevs two-day visit here next week.
Medvedev touches down here with a large business delegation Monday night for an annual …. Source : India, Russia to sign fifth generation fighter jet deal.
Free Shipping Day Is Today
SAN FRANCISCO (GaeaTimes.com)- Those who did not shop as much as they wanted in the Black Friday and Cyber Monday have another chance to buy without worrying about shipping of the products. Today is being celebrated as the free shipping day in the USA. The shoppers can buy online and get the products delivered …. Source : Gaea News Network.
Parle to buy apple concentrate from Himachal
SHIMLA – Food and beverage company Parle Agro will buy 300 tonnes of apple juice concentrate from the state-run Himachal Pradesh Horticultural Produce Marketing and Processing Corp (HPMC), a minister said here Friday.
The apple concentrate is used for fruit juices, nectars and drinks.
“Parle Agro has placed an order for procurement of 300 tonnes … Read more : Parle to buy apple concentrate from Himachal.
BlackBerry posts 40 percent growth to beat forecasts
TORONTO – Beating forecasts, BlackBerry maker Research In Motion (RIM) posted its sixth straight quarter of record smart phone sales in its third-quarter results of fiscal 2011 announced Thursday.
The Canadian wireless giant reported a record revenue of $5.5 billion during the quarter, raking in a profit of $911.1 million or $1.74 per share.
RIM …. Source : Gaea News Network.
After roads, Bihar’s power sector a Nitish priority
PATNA – After fulfilling the dreams of good roads in Bihar in his first term as chief minister, Nitish Kumar wants to make a difference in the power sector during his second term that ends in 2015.
“After roads, the power sector is a priority of Nitish Kumar for the development of Bihar,” an official …. Source : Gaea News Network.
Bihar conclave to discuss challenges of change
PATNA – Nearly 200 delegates, including 30 NRIs of Bihar origin, will participate in a two-day conclave here from Saturday to discuss the challenges of change in the state.
Dozens of delegates, including NRIs who have made their mark in various fields, have arrived here to discuss ways of accelerating the pace of socio-economic … Read the original article on Gaea Times at : Bihar conclave to discuss challenges of change.
China’s foreign trade to top $2.9 trillion in 2010
BEIJING – China’s foreign trade will exceed $2.9 trillion this year, and the country expects its trade and international payments to be more balanced over the next five years, said Commerce Minister Chen Deming.
It is very likely that China could become the world’s largest exporter and the second largest importer by the end …. Source article on Gaea Times at : China’s foreign trade to top $2.9 trillion in 2010.
Spain sells $3.2 bn in bonds
Madrid, Dec 17 (IANS/EFE) Spain raised 2.4 billion euros ($3.2 billion) in a Thursday auction of 10- and 15-year bonds, although the interest rate it was forced to pay on that debt was the highest since 1997.
The Spanish treasury issued 1.78 billion euros in 10-year bonds at an average interest rate of 5.48 percent, …. Original article on Gaea Times at : Spain sells $3.2 bn in bonds.
China’s machinery, electronics exports up 30 percent
BEIJING – China’s machinery and electronic exports were up 30 percent year-on-year, and is on course to become the world’s largest exporter of such goods in 2010, reports Xinhua.
China exported $842.74 billion worth of machinery and electronic products in the first 11 months, up 32.7 percent from a year earlier, Zhang Yujing, director …. Source article on Gaea Times at : China’s machinery, electronics exports up 30 percent.
Brazilian economy creates 2.5 mn new jobs
Rio de Janeiro, Dec 17 (IANS/EFE) Brazil’s economy generated upwards of 2.5 million new jobs in the first 11 months of this year, 7.7 percent more than during all of 2009, the labour ministry said.
The statistic covers only formal employment with benefits and social security contributions.
President Luiz Inacio Lula da Silva’s job-creation target …. Original article : Brazilian economy creates 2.5 mn new jobs.
Indian innerwear firm to make inroads into Iran, Iraq
KOLKATA – Leading hosiery company Dollar Industries, which is behind the highest selling Indian innerwear brands in the Gulf, now plans to venture into Iraq, Iran and Myanmar, a top company official says.
“As of now, we are looking to enter Iraq, Iran and Myanmar by the end of the current fiscal,” managing director Vinod … Read more : Indian innerwear firm to make inroads into Iran, Iraq.
Indian stock markets closed Friday on Muharram
MUMBAI – Indian stocks markets will have an extended weekend with trading closed Friday on account of Muharram.
During the truncated trading week, the 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) moved up 1.87 percent to close at 19.864.45 points, compared to the previous weekly close at 19,508.89 points.
… Original article on : Indian stock markets closed Friday on Muharram.
US stocks gain on better economic data
NEW YORK – US stocks were pushed to two-year highs Thursday amid promising employment data and signs of improvement in the housing and manufacturing sectors.
Weekly claims for unemployment benefits unexpectedly rose only slightly, the Labour Department reported, despite the US unemployment rate climbing to 9.8 percent in November.
New construction in the fragile housing … Read the original article on Gaea Times at : US stocks gain on better economic data.
Obama-Republican tax deal set for final vote in House
WASHINGTON – The US House of Representatives was preparing to vote Thursday on a tax compromise bill agreed between President Barack Obama and Republicans, possibly ending a months-long political battle that threatened an already fragile US economy.
The legislation would extend for two years a major round of tax cuts first enacted under then president … Read the original article on Gaea Times at : Obama-Republican tax deal set for final vote in House.
Corruption in public services on the decline: survey
NEW DELHI – The extent of corruption encountered by citizens while availing public services has been on the decline in recent years, says a survey conducted by the Centre of Media Studies (CMS), a non-profit organisation.
The “2010 India Corruption Survey” by the CMS showed a decline in graft over a period of five years … Original source on Gaea Times at : Corruption in public services on the decline: survey.
Integrated mining cities mooted in Gujarat
AHMEDABAD – The concept of introducing integrated mining cities in India was discussed here Thursday at a seminar, organised as a run-up to the Vibrant Gujarat 2011 Summit.
The seminar was organised by the Gujarat government and the Confederation of Indian Industry (CII) with the support of the Industrial Extension Bureau.
The seminar which brought …. Source article : Integrated mining cities mooted in Gujarat.
MCD demolishes 8 buildings in east Delhi
NEW DELHI – Cracking down on unauthorised constructions, the Municipal Corporation of Delhi (MCD) Thursday demolished eight properties in east Delhi and also sealed two properties in the area.
“The MCD’s building department with the police help sealed two properties in Pandav Nagar and demolished eight properties in Farsh Bazar and Pandav Nagar police station …. Source article : MCD demolishes 8 buildings in east Delhi.
India’s GSM phone subscribers grow 3.4 percent in November
NEW DELHI – India’s GSM phone subscriber base grew 3.4 percent in November with the addition of 17.5 million subscribers taking the total number of subscribers to 526 million, the Cellular Operators Association of India (COAI) said Thursday.
Telecom giant Bharti Airtel added 3.1 million subscribers to have a total of 149.5 million subscribers. … Read the original article on Gaea Times at : India’s GSM phone subscribers grow 3.4 percent in November.
Sensex moves up 1.82 percent (Weekly Market Review)
MUMBAI – A benchmark index of the Indian equities markets closed with modest gains in a truncated week of trading.
The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) rose 1.82 percent or 355.96 points to close at 19,864.85.
At the National Stock Exchange (NSE), the 50-share S&P CNX Nifty also …. Source : Sensex moves up 1.82 percent (Weekly Market Review).
Himachal remains ‘power-full’ after bountiful monsoon
SHIMLA – Bountiful rains during the monsoon this year have helped Himachal Pradesh remain “power-full”.
Officials said plentiful flow in most of the rivers has allowed hydropower generation to remain good at a time when it generally reaches its lowest ebb due to the freezing of glaciers in winter.
“All the 21 run-of-river hydropower projects … Read more »».
Pakistan, China to sign fresh trade agreements
ISLAMABAD – Pakistan and China were Saturday set to sign fresh trade agreements worth $10 billion aimed at deepening strategic and economic relations between the two countries.
The new deals will be inked at a trade summit of Chinese business representatives accompanying Premier Wen Jiabao and their Pakistani counterparts.
These come on the top of …. Source : Pakistan, China to sign fresh trade agreements.
WikiLeaks: Sudan’s president may have stolen $9 bn
NAIROBI/LONDON – Sudan’s President Omar al-Bashir may have looted up to $9 billion from public coffers and deposited it in British banks, according to a diplomatic cable leaked to Britain’s Guardian newspaper.
The cable released by the whistleblowing WikiLeaks site detailed a conversation between International Criminal Court Chief Prosecutor Luis Moreno-Ocampo and a top US … Read : WikiLeaks: Sudan’s president may have stolen $9 bn.
eBay communities make participants better buyers and sellers: Study
WASHINGTON – Customers of eBay who participate in the company’s online communities become more conservative buyers and more selective and efficient sellers, a new study from Rice University’s Jones Graduate School of Business has found.
To do this, the researchers started with data from a yearlong study of 13,735 new eBay Germany customers. (The authors noted …. Read the original article : here.
Midnight tax-cut vote makes Obama ‘new Comeback Kid’
WASHINGTON – In a major political victory for President Barack Obama, the US Congress approved a $858 billion deal brokered by the White House and supported by opposition Republicans to extend Bush-era tax cuts for another two years.
In a midnight vote, the lame duck House of Representatives passed the measure by a 277 to …. Source article : Midnight tax-cut vote makes Obama ‘new Comeback Kid’.
Indian firm to invest $250 mn in knowledge, food processing hubs in East Africa
KIGALI – An Indian company has signed a pact with the Rwanda Development Board (RDB) to invest $250 million for a knowledge hub and an integrated food park in this East African country, once associated with its fratricidal conflict that claimed nearly a million lives.
India’s Universal Empire Infrastructures (UEIL) has been in discussion with …. Source article on Gaea Times at : Indian firm to invest $250 mn in knowledge, food processing hubs in East Africa.
Italian industrial output falls for second consecutive month
Rome, Dec 18 (IANS/AKI) Italy’s industrial output fell in October for the second consecutive month, signalling that the country’s export-led economy is having difficulty emerging from last year’s deep recession.
Production fell 0.1 percent from September, when it dropped 2.1 percent, Rome-based state statistics agency ISTAT said Friday.
Adjusted for a different number of … Read : Italian industrial output falls for second consecutive month.
Brazil jobless rate lowest in 8 years
Rio de Janeiro, Dec 18 (IANS/EFE) Brazil’s unemployment rate dipped to 5.7 percent last month, the lowest level since March 2002, authorities said.
The jobless total fell 0.4 percent from October and was down significantly from the November 2009 figure of 7.4 percent.
Brazil’s official unemployment rate is computed on the basis of the number … Read more >>.
Obama signs tax compromise into law
WASHINGTON – US President Barack Obama Friday signed into law a compromise tax deal reached with Republicans, ending months of political wrangling that threatened to leave US families facing a massive tax hike at the start of the year.
The legislation includes a two-year extension of across-the-board tax cuts that were first enacted under former …. Source article on Gaea Times at : Obama signs tax compromise into law.
US stocks mixed at week’s end on positive economic data
NEW YORK – US stocks ended the week mixed as a key gauge of the US economy’s performance released Friday suggested the country’s recovery was beginning to gather steam.
The New York-based Conference Board’s Leading Economic Index jumped 1.1 percent in November to 112.4, marking the fifth straight monthly increase. Improved sales forecasts from some … Read this article on Gaea Times at : US stocks mixed at week’s end on positive economic data.
Yahoo to cut features after latest round of layoffs
SAN FRANCISCO – Yahoo is to cut some prominent website features following the announcement this week that it is firing some 600 workers, or 4 percent of its work force.
While many of the targeted features have been little used, some, like the Delicious bookmark sharing service have proved popular among Yahoo users who fired …. Original article : Yahoo to cut features after latest round of layoffs.
Per Capita Income to double in nine years with current growth rate: Ahluwalia
NOIDA – Planning Commission Deputy Chairman Montek Singh Ahluwalia on Friday said with the current growth rate, the ‘Per Capita Income’ (PCI) of India will get doubled in nine years.
Ahluwalia, who was conferred Honorary Degree of Doctor of Philosophy … Original source on Gaea Times at : Per Capita Income to double in nine years with current growth rate: Ahluwalia.
Kingfisher, British Airways ink frequent flyer pact
BANGALORE – India’s leading private carrier Kingfisher Airlines Friday entered into a comprehensive frequent flyer agreement with British Airways (BA), covering their entire route network.
“The agreement will enable frequent fliers of both airlines to earn points when they travel on the respective flights anywhere in the world,” Kingfisher vice-president (commercial) Manoj Chacko said in … Original source on Gaea Times at : Kingfisher, British Airways ink frequent flyer pact.
Dinosaur fossil park to come up in Madhya Pradesh
BHOPAL – A National Dinosaur Fossil Park is coming up in Madhya Pradesh’s Dhar district where over 100 dinosaur eggs in fossil form were found, officials said Friday.
The park will be spread over 89.740 hectare forest area near Bagh Caves, 80 km from Dhar town, the district headquarters, where fossils of …. Source : Dinosaur fossil park to come up in Madhya Pradesh.
Elephanta village to get solar power
MUMBAI – Thirty homes of a village at the Elephanta Island, only a few kilometres away from Mumbai, will Monday get illuminated using solar power.
The Mumbai Metropolitan Region development Authority (MMRDA) and Pune-based Science and Technology Park (STP) will supply solar power to the village and also provide a port charging mobile phones.
… Read the original article on Gaea Times at : Elephanta village to get solar power.
Chaos at Delhi airport’s T-3 as IT systems fail
NEW DELHI – Chaotic scenes were witnessed Friday at the snazzy new Terminal-3 (T3) of the Indira Gandhi International Airport here when the information technology systems failed for about an hour, forcing the airlines staff to manually check-in passengers, leading to long queues.
“The IT systems experienced some problem, which started at 4.25 p.m. … Read : Chaos at Delhi airport’s T-3 as IT systems fail.
Swedish firm to launch new power technology next year
AHMEDABAD – Sandwik Asia Pvt Ltd, a fully-owned subsidiary of the $13 billion Sandwik AB Group of Sweden, will launch a new boiler technology that will usher in major technological changes in power production in India over the next decade, a company official said.
Ajay Sambrani, vice-president and product unit head of Sandwik … Read more >>>.
Companies Bill to be tabled in budget session: Khurshid
MUMBAI – The revised Companies Bill will be tabled in parliament in the coming budget session, Minister of State for Corporate Affairs Salman Khurshid said here Friday.
Views of many stakeholders will be taken into consideration, including those of various committees. We will introduce a corporate and people friendly bill in the next budget …. Original article : Companies Bill to be tabled in budget session: Khurshid.
Gujarat chemical units sign MOU with Indo-African chamber
GANDHINAGAR – The Gujarat Chemical Association (GCA) Friday signed a memorandum of understanding (MoU) with the Indo-African Chamber of Commerce and Industries (IACCI) for promoting bilateral trade, especially for the small and medium enterprises (SMEs).
The MoU will also serve as a platform for promoting technology transfer, joint ventures and investment in the chemical sector.
…. Source : Gaea News Network.
‘Local manufacturing to drive medical electronics industry’
NEW DELHI – India needs a conducive environment for local manufacturing and R&D projects to drive its medical electronics industry, a new report says.
A report prepared by the Federation of Indian Chambers of Commerce and Industry (FICCI)-Medical Electronics Forum (MEF) (FICCI-MEF) has outlined a 13-fold strategy which also stresses on reaching all sections of … Read : ‘Local manufacturing to drive medical electronics industry’.
A non-resident Indian can remit $1 mn from property sales (NRI Watch)
The prices of ancestral properties left in India by emigrating non-resident Indians (NRIs) have escalated beyond their belief. Little wonder they have developed a new and intense interest in claiming their share, especially with recession biting hard in the West. In the last few years, the ancestral homes in India are valued in crores.
So … Original article on : A non-resident Indian can remit $1 mn from property sales (NRI Watch).
Gizmos straight out of sci-fi films coming up: Intel
NEW DELHI – Come 2011, and tech enthusiasts can look forward to newer, smarter, powerful and personalised technologies seen only in science fiction movies, says Intel, the world’s largest computer chip manufacturer, in its annual trends report.
The company’s ‘Technology Trend Predictions for 2011′ report said smart TVs, cloud computing and secured internet environment, digital … Read this article on Gaea Times at : Gizmos straight out of sci-fi films coming up: Intel.
Over 2,000 aspiring entrepreneurs to gather at TiE summit
NEW DELHI – Over 2,000 budding entrepreneurs are expected at The Indus Entrepreneurs (TiE) summit here that will feature icons like Infosys founder N.R. Narayana Murthy and Nobel laureate Amartya Sen among more than 100 speakers.
With a theme of ‘Enterprising India, the event will be held at Siri Fort Auditorium here from Dec …. Original article : Over 2,000 aspiring entrepreneurs to gather at TiE summit.
Gujarat eyes $1 bn investment for pharma industry
AHMEDABAD – Gujarat, which accounts for nearly a half of the Indian pharma industry’s turnover, is betting big on making the state a global hub as it eyes deals worth over $1 billion at the upcoming business conclave here next month.
“Our government is proactive. We have systems in place. The discretionary mechanism in the …. Original article on Gaea Times at : Gujarat eyes $1 bn investment for pharma industry.
Orissa announces relief package for farmers
BHUBANESWAR – Orissa Saturday announced a special package of Rs.900 crore for farmers who suffered losses due to unseasonal rains early this month.
Announcing the package in the assembly here, Chief Minister Naveen Patnaik said the state government will contribute Rs.600 crore and the rest will come from the calamity relief fund (CRF) of the …. Read the original article : here.
Steel magnate’s birthday bash in French Alps draws frowns
LONDON – A mega-party by steel magnate Viktor Pinchuk in Courchevel, a ski resort in the French Alps, has led some locals to brand the extravagant spending obscene, a media report said Saturday.
The Ukranian businessman, also an art collector, whose fortune Forbes estimates stands at $3.1 billion, is sparing no expense for the 300 …. Source : Gaea News Network.
Pakistan, China sign 22 economic agreements
ISLAMABAD – Pakistan and China Saturday signed 22 new trade agreements, worth $15-billion, aimed at deepening strategic and economic toes between the two countries, officials said.
These come on the top of another 13 agreements worth around $20 billion signed Friday after bilateral meetings.
The fresh deals were inked at a business summit addressed by …. Source : Pakistan, China sign 22 economic agreements.
Snow disrupts travel across Europe as three die in Italy
LONDON – Hundreds of flights out of London airports were cancelled Saturday as fresh snow blocked runways, adding to a continent-wide disruption caused by unusually early and heavy snowfalls that now stretch south to most of the Mediterranean coast.
In Italy, at least three people died in snow-related incidents in a space of just 24 …. Original source : Snow disrupts travel across Europe as three die in Italy.
Provide Bihar coal linkage for new power plants: Sushil Modi
PATNA – Bihar Deputy Chief Minister Sushil Kumar Modi Saturday demanded coal linkages for thermal power plants upcoming in the state.
“We demand that the central government provide us coal linkage for upcoming thermal power plants in Bihar,” Modi said in his address at the two-day Bihar conclave that began here Saturday.
Modi made …. Source : Gaea News Network.
Bihar conclave begins with call to invest
PATNA – A two-day Bihar conclave began here Saturday with Deputy Chief Minister Sushil Kumar Modi asking delegates, including non-resident Indians (NRIs) of Bihar origin, to come forward and invest in the state.
“It is time for you to invest and contribute to help develop Bihar,” Modi said in his inaugural address here.
Modi said [..] Read the original article: here.
Third party should keep stolen mobiles’ database, say firms
NEW DELHI – A third party regulator should maintain the database of stolen mobile handsets and the equipment identity register should be maintained on a national level, say telecom service providers.
“The CEIR (Central Equipment Identity Register) should be maintained by third party or regulator and it should accessible by all operators. For easy …. Source article on Gaea Times at : Third party should keep stolen mobiles’ database, say firms.
Ready to answer CBI questions on spectrum: Arun Shourie
CHENNAI – Former union communications minister Arun Shourie Saturday said he is ready to answer the Central Bureau of Investigation’s (CBI) questions on the 2G spectrum allocation during his tenure.
Speaking to reporters on the sidelines of a function here, he said: “I would be happy to answer the questions. I can answer the questions … Read this article on Gaea Times at : Ready to answer CBI questions on spectrum: Arun Shourie.
Countdown for India’s advanced satellite launch begins Sunday
CHENNAI – The countdown for Monday’s launch of India’s heaviest communication satellite, meant to retire an earlier one sent up in 1999 and ensure continuity of telecom, TV and weather services, will begin at 11.01 Sunday morning, an official said.
GSAT-5P will blast off to space from Satish Dhawan Space Centre at Sriharikota, around 80 … Original source on Gaea Times at : Countdown for India’s advanced satellite launch begins Sunday.
India must be wary of defence imports: Narayanan
KOLKATA – West Bengal Governor M.K. Narayanan Saturday made a scathing criticism of the Indian military and the defence production industry and said there was a vested interest in “buying than making” the needed equipment at home.
The former national security advisor blamed the military for its deep seated complex about using indigenous equipment, and …. Source article : India must be wary of defence imports: Narayanan.
Misunderstood risks in investment drive financial market instability: Study
WASHINGTON – According to a new study, our incomplete or incorrect understanding of how decisions in the present affect future options means that we may underestimate the risk associated with investment decisions.
Dr Ole Peters from Imperial College London suggests how policy makers …. Source : Misunderstood risks in investment drive financial market instability: Study.
US Congress clears tax cut deal to hand Obama a big win
WASHINGTON – In a major victory for US President Barack Obama, the US Congress has approved a $858 billion deal brokered by the White House and opposition Republicans to extend Bush era tax cuts for two years.
In a midnight vote, the lame duck House of Representatives passed the measure by a 277 to 148 … Read : US Congress clears tax cut deal to hand Obama a big win.
Wipro joins Greenpeace rankings for energy efficiency
BANGALORE – IT bellwether Wipro became the first Indian firm to join Greenpeace’s Cool IT Leaderboard rankings for its commitment to energy efficiency, the company said Friday.
“We were the only Indian company to be part of the Cool IT Leaderboard rankings for our transparent mitigation plant that frontloads energy efficiency and direct renewable energy … Original article on : Wipro joins Greenpeace rankings for energy efficiency.
Chaos at Delhi airport T-3 as IT systems fail
NEW DELHI – Chaotic scenes were witnessed Friday at the snazzy new Terminal-3 (T3) of the IGI airport here when the information technology systems failed, forcing the airlines staff to manually check-in passengers.
The IT systems experienced some problem, which started at 4.25 p.m. in the evening and continued till 5.30 p.m., after which the … Read the original article on Gaea Times at : Chaos at Delhi airport T-3 as IT systems fail.
Sri Lanka no more underdeveloped country: World Bank
COLOMBO – Sri Lanka is no longer an underdeveloped country, having surpassed the per capita income of $2,000, a World Bank official said here Friday.
Ngozi Okonjo-Iweala, managing director of World Bank, said Sri Lanka was no longer qualified for International Development Association loans that provide interest free financial assistance to underdeveloped countries, Xinhua …. Read the original article : Sri Lanka no more underdeveloped country: World Bank.