Business News – Newsletter for December 23, 2010

Dabur Nepal under fresh fire after godown raid

KATHMANDU – Dabur Nepal, one of the largest multinationals in Nepal, faced fresh fire Thursday, three days after an official raid on its godown in southern Nepal, with police beginning a probe into allegations that five people fell ill after drinking its Real brand fruit juice.

The new development occurred in Banepa, a small town … Read more >>.

Household budgets go haywire as veggie prices shoot up

NEW DELHI – When Kamala Devi moved to Delhi from Bihar 10 years back, hoping for a better life, she never thought that some day she would want to go back home. But burdened under the rising prices of vegetables, she is mulling over just that – even if only for a while.

“I … Read the original article on Gaea Times at : Household budgets go haywire as veggie prices shoot up.

Make banking available to all: Pratibha Patil

MUMBAI – President Pratibha Patil Thursday said the first priority of the Indian banking system must be to support a vibrant and inclusive economy and pointed out that only 45 percent of Indians has access to bank accounts.

Speaking after the inauguration of centenary celebrations of the Central Bank of India, she said banking … Original article on : Make banking available to all: Pratibha Patil.

Ford Explorer 2011 Gets IIHS Nod

SAN FRANCISCO (GaeaTimes.com)- Ford one of the leading automakers in the USA is delighted because its flagship SUV the Ford Explorer 2011 has been picked as a model with Top Safety Pick Designation by the Insurance Institute for Highway Safety. The SUV did extremely well in various types of crash and impact tests. … Read more >>.

Don’t overstock onions, traders say

NEW DELHI – A grouping of traders Thursday urged people not to stock up onions, saying prices were set to fall.

The Azadpur Agriculture Product Market Committee (APMC) said since the central government had put a hold on export of onions, it was likely to push down prices.
“We appeal to the people in Delhi …. Source  : Don’t overstock onions, traders say.

Facebook eyeing to re-connect with China?

BEIJING – Facebook founder and chief executive Mark Zuckerberg met with some of China’s top technology leaders, fuelling speculation about the social networking website’s ambitions to enter the country’s market where it is censored.

Zuckerberg Wednesday visited the offices of Sina Corp., a leading Chinese web portal, and met with its CEO Charles Chao, the … Original article on : Facebook eyeing to re-connect with China?.

Looking forward to allocate more spectrum, says Sibal

NEW DELHI – Communications Minister Kapil Sibal said Thursday that the ministry is looking forward to allocate more spectrum to telecom operators for offering basic services.

“The real problem in India is that we have the lowest volumes of spectrum available to the public, so we need to increase the volume,” Sibal told reporters … Read more >>>.

Reserve Bank Cancels the Licence of The Golaghat Urban Co-operative Bank Ltd., Golaghat (Assam)

In view of the fact that the Golaghat Urban Co-operative Bank Ltd., Golaghat (Assam), had ceased to be solvent, all efforts to revive it had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order cancelling …. Original article on Gaea Times at  : Reserve Bank Cancels the Licence of The Golaghat Urban Co-operative Bank Ltd., Golaghat (Assam).

Food inflation zooms on high onion, fruits, eggs, meat prices

NEW DELHI – High prices of onions, fruits, vegetables, milk, eggs, meat and poultry sharply raised India’s annual food inflation based on wholesale prices to 12.13 percent for the week ended Dec 11 from 9.46 percent for the week before.

This was the third successive week of a rise in the food inflation rate, pushing … Read : Food inflation zooms on high onion, fruits, eggs, meat prices.

Food inflation zooms on high onion, fruits, eggs, meat prices

NEW DELHI – High prices of onions, fruits, vegetables, milk, eggs, meat and poultry sharply raised India’s annual food inflation based on wholesale prices to 12.13 percent for the week ended Dec 11 from 9.46 percent for the week before.

This was the third successive week of a rise in the food inflation rate, pushing …. Original article on Gaea Times at  : Food inflation zooms on high onion, fruits, eggs, meat prices.

Haryana expressway to de-congest Delhi traffic delayed again

CHANDIGARH – A major expressway in Haryana that will ease the inflow of traffic passing through Delhi has been given a new set of completion deadlines with the already delayed project missing yet another date.

No amount of pulling up and warnings to the construction company, D.S. Constructions, at the level of Haryana Chief Minister … Read more : Haryana expressway to de-congest Delhi traffic delayed again.

Onion prices will come down soon, says Sheila Dikshit

NEW DELHI – Delhi Chief Minister Sheila Dikshit Thursday said the prices of onion will come down soon following a series of measures taken by the central and the city governments.

“Both the central and Delhi governments have taken a series of measures and the impact has been seen in the wholesale market. We …. Original source  : Onion prices will come down soon, says Sheila Dikshit.

Himachal warms up to Christmas tourist rush

SHIMLA – Its not the snow, but the sun that is alluring the tourists to ring in the Christmas at most of the popular destinations in Himachal Pradesh.

The Met Office here Thursday predicted that there would be no white Christmas in the popular tourist resorts as the temperatures are rather high. But thousands of … Read more >>.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.02 and the Reference Rate for Euro is ` 59.12 on December 23, 2010. The corresponding rates for the previous day (December 22, 2010) were ` 45.13 and ` 59.32 respectively. Based on the Reference Rate for US … Read : RBI Reference Rate for US $ and Euro.

Arjun Urban Co-operative Bank Ltd., Solapur, Maharashtra ??? Penalised

The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees One lakh only) on Arjun Urban Co-operative Bank Ltd., Solapur, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for …. Source article  : Arjun Urban Co-operative Bank Ltd., Solapur, Maharashtra ??? Penalised.

After 5 months, Kashmir rail services back on track

SRINAGAR – Train services resumed in the Kashmir Valley Thursday after remaining suspended for nearly five months because of the widespread unrest.

Operations were restored between Anantnag district in south Kashmir and the central district of Badgam Thursday.
Complete resumption of operations will take place in two phases. In the next phase, we will resume …. Read the original article  : here.

Mad rush for investment homes ruining Goa, say activists

PANAJI – There are some who rush to Goa with swimwear and sun tan. They’re all right. But those who rush to the state with surplus cash and seduced by the idea of a second home for investment purpose are not all right, say Goan activists, among them master architect Charles Correa.

They are the …. Source  : Gaea News Network.

Why no green signal to Kochi Metro, asks minister

THIRUVANANTHAPURAM – Kerala Minister for Parliamentary Affairs M. Vijayakumar Thursday said that it remains a mystery why the central government is not giving the nod for the Kochi Metro project.

“We are all quite surprised because when it comes to Kochi Metro the central government has not yet given the sanction while similar projects …. Original article on Gaea Times at  : Why no green signal to Kochi Metro, asks minister.

Chandigarh to get its first cactii garden

CHANDIGARH – Chandigarh, which is famous for its unique rock garden, will soon get a cactii garden, much to the delight of tourists and botanists.

This cactii garden is coming up at the botanical gardens, which is spreads over 176 acres of land, near Sarangpur village here.
Work is on and very soon the … Read this article on Gaea Times at : Chandigarh to get its first cactii garden.

Chile government to sell stakes in water utilities

Santiago, Dec 23 (IANS/EFE) Chile Wednesday announced plans to divest its minority stakes in four water utilities, saying it expects to raise some $1.6 billion from the sales.

The government is looking to finalise the deals within a period of between six and nine months, according to Economy Minister Juan Andres Fontaine, who confirmed reports …. Source  : Gaea News Network.