Business News – Weekly Newsletter for December 20-27, 2010

Monday, December 27, 2010

Tatas now acquire British Salt for $144.6 million

MUMBAI – Now half of Britain will be using Tata salt. The group has acquired the dominant salt-maker company which has the 50 percent share of the British market.

Tata Chemicals’s UK subsidiary Brunner Mond has signed a deal to acquire British Salt Limited for $144.6 million (93 million pound), the company announced Monday.
… Read more »»».

Dabur factory in Nepal raided: Reports

KATHMANDU – Consumer goods giant Dabur India’s joint venture in Nepal has been raided by officials acting on complaints against the quality of its Real brand of fruit juice, media reports said Monday.

However, there was no immediate confirmation from Dabur Nepal despite efforts to contact the multinational company in Kathmandu.
At least three television …. Source : Gaea News Network.

Sensex moves in to positive; Hero Honda surges 14 percent

MUMBAI – A benchmark index of Indian equities moved into positive territory in the afternoon session Monday on strong buying support in auto and technology stocks.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened deep in the red at 19,770.02 points, moved in the positive territory in the afternoon …. Source : Gaea News Network.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.38 and the Reference Rate for Euro is ` 59.77 on December 20, 2010. The corresponding rates for the previous day (December 16, 2010) were ` 45.39 and ` 60.05 respectively. Based on the … Read more : RBI Reference Rate for US $ and Euro.

ArcelorMittal forced to up bid for Canadian iron-ore giant

TORONTO – ArcelorMittal’s battle to take over Canada’s Baffinland Iron Mines took an interesting turn Sunday after it was forced to raise its friendly bid by 14 percent to $1.25 per share when rival Nunavat Iron offered $1.35 per share to buy 50.1 percent stake in it.

ArcelorMittal, which previously offered $1.10 per share or [..] Read the original article: here.

‘Positive Sino-Indian ties good for Bangladesh’

DHAKA – The positive outcome of last weeks Sino-Indian talks should be heartily welcomed by Bangladesh and augurs well for the South Asian region, a Dhaka daily says.

The Daily Star commended the growing emphasis on economic ties between India and China taking precedence over their political differences.
Chinese Premier Wen Jiabao was in India … Original article on : ‘Positive Sino-Indian ties good for Bangladesh’.

Determined to formulate food security act: PM

NEW DELHI – Prime Minister Manmohan Singh Monday said his government was determined to formulate a national food security act to ensure that no citizen goes to bed hungry.

“We want that no citizen of our country must sleep hungry. We are determined about the formulation of the national food security act,” he said at …. Original article on Gaea Times at : Determined to formulate food security act: PM.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on December 20, 2010 are:

Amount (face value in ` crore)

Item

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

1 day Repo Auction
…. Read the original article : here.

Amritsar looks at trade revival – with Pakistani help

AMRITSAR – Amritsar, Sikhism’s holy city which was an important business centre in northern India at one time, is looking to revive trade with help from an unexpected quarter – Pakistan.

The trading community in the two countries feels there is much scope for increasing business between them through the land route to millions …. Read the original article : Amritsar looks at trade revival – with Pakistani help.

Medvedev to discuss trade, energy during India visit

MOSCOW/NEW DELHI – Russian President Dmitry Medvedev will Monday begin an official three-day visit to India during which he will discuss trade, economic, energy and cultural cooperation as well as international issues.

During the visit, he will meet his Indian counterpart Pratibha Patil, Prime Minister Manmohan Singh and Foreign Minister S.M. Krishna.
A number of … Read the original article on Gaea Times at : Medvedev to discuss trade, energy during India visit.

We will rein in inflation: PM

NEW DELHI – Prime Minister Manmohan Singh Monday said the rate of inflation would be curbed by early next year to settle at 5.5 percent.

“We made all efforts to reduce inflation and will continue these. By March next year, inflation is expected to settle at 5.5 percent,” the prime minister said in his address … Read more : We will rein in inflation: PM.

RBI announces rate of interest on Floating Rate Bonds, 2020

The rate of interest on the Floating Rate Bonds, 2020 (FRB, 2020) applicable for the half year December 21, 2010 to June 20, 2011 shall be 7.23 percent per annum.

It may be recalled that the rate of interest on the FRB, 2020 was set at average rate (rounded off up to …. Original source : RBI announces rate of interest on Floating Rate Bonds, 2020.

Airlines warn against travel to snowed-in Britain

AUCKLAND – Holiday makers wanting to fly to Britain have been advised not to do by many airlines who said they could not guarantee they would be able to land due to the massive snowfall.

Snow storms have closed the main airports in the British capital – including Heathrow, Gatwick and Stansted. Scores of flights … Read more »»».

Medvedev begins India visit Monday

Moscow, Dec 20 (IANS/RIA Novosti) Russian President Dmitry Medvedev will Monday begin an official three-day visit to India to discuss trade, economic, energy and cultural cooperation, as well as international issues.

During the visit, he will meet his Indian counterpart Pratibha Patil, Prime Minister Manmohan Singh and Foreign Minister S.M. Krishna.
A number of documents … Read this article on Gaea Times at : Medvedev begins India visit Monday.

India starts river project in Myanmar

YANGON – India has begun construction of a river port and waterway terminal in Myanmar, aimed at promoting trade between the two countries.

Construction for the Myanmar-India Kaladan Multimodal Transit Transport Project in Sittway township of Rakhine state began Sunday, Xinhua reported Monday citing official daily New Light of Myanmar.
The construction in the Kaladan … Read : India starts river project in Myanmar.

Money Market Operations as on December 16, 2010

… Read the original article on Gaea Times at : Money Market Operations as on December 16, 2010.

Tokyo stocks inch down on Korean, European worries

TOKYO – Japanese stock lost ground slightly in Monday morning trading on concerns about tension on the Korean Peninsula and Europe’s continuing debt problems.

The benchmark Nikkei 225 Stock Average fell 32.55 points, or 0.32 percent, to trade at 10,271.28 while the broader Topix index was down 0.78 points, or 0.09 percent, to 902.36.
On …. Source : Gaea News Network.

UAE, Maldives sign MoU on banking cooperation

Abu Dhabi, Dec 19 (IANS/WAM) The Central Bank of the UAE and the Maldives Monetary Authority Sunday signed a memorandum of understanding (MoU) here to boost cooperation in the banking sector.

The agreement will pave the way for exchange of information and cooperation, including technical assistance and training and combating money laundering and terrorist financing. … Read this article on Gaea Times at : UAE, Maldives sign MoU on banking cooperation.

Delhi to float tenders for more bus route clusters

NEW DELHI – With Jan 31, 2011 fixed as last day for Blueline buses on the capital’s roads, the Delhi government has decided to float tenders for more routes soon under the cluster system.

The city has so far cleared five clusters, a system under which the over 600 routes in the city have been …. Source article : Delhi to float tenders for more bus route clusters.

20 Metro stations get phone bill payment machines

NEW DELHI – With the installation of multi-service payment machines at 20 Metro stations across the city, commuters will be able to pay mobile phone bills or recharge phones on the move, an official said Sunday.

According to the Delhi Metro, the touch screen machines named ‘Unipay’ can be used by commuters by inserting currency … Read more : 20 Metro stations get phone bill payment machines.

Russia asks Pakistan to expedite 26/11 probe, backs India for UNSC seat

NEW DELHI – India and Russia Tuesday inked 30 agreements in areas ranging from science, peaceful use of nuclear energy to culture and pharmaceuticals and also inked a contract for jointly building a fifth generation fighter jet. The two countries also asked Pakistan to bring the 26/11 perpetrators to justice.

Eleven … Original article on : Russia asks Pakistan to expedite 26/11 probe, backs India for UNSC seat.

Airtel launches GPS to help track Bangladeshi fishing boats

DHAKA – India’s Bharti Airtel Limited, which has acquired 70 percent stake in Bangladesh’s Warid Telecom, has launched a GPS-based vessel locating service to enable the country’s fishermen communities to track their fishing boats.

This service is in line with the promise of taking mobile telephony to Bangladesh’s rural areas and its long coastline on …. Source : Airtel launches GPS to help track Bangladeshi fishing boats.

Sotheby’s Hong Kong sells wine worth $6.7 mn in 2010

HONG KONG – The Sotheby’s auction house said Tuesday that it sold a record $6.76 million of wine in Hong Kong in 2010, more than it sold the world over in 2009.

The auction total came in a year that Sotheby’s raised $11.34 million through wine auctions worldwide, more than double 2009’s $5.37 million.
The …. Source : Sotheby’s Hong Kong sells wine worth $6.7 mn in 2010.

Bhopal’s seige by protesting farmers swells

BHOPAL – Thousands of protesting farmers continued their siege of the Madhya Pradesh capital for the second day Tuesday, blocking all roads leading to Chief Minister Shivraj Singh Chouhan’s house here to press their demands, including uninterrupted power supply to rural areas.

The number of farmers under the banner of Bharti Kisan Sangh (BKS) Tuesday … Original article on : Bhopal’s seige by protesting farmers swells.

Dabur Nepal’s woes mount after vigilance raid

KATHMANDU – The woes of Dabur Nepal, Indian FMCG giant Dabur India’s independent group company in Nepal, mounted Tuesday after state watchdogs raided its storehouse and sealed it with an admonition not to sell and distribute its fruit juices till investigations were completed.

“We have sealed nearly 74,000 cartons of Dabur Nepal’s fruit …. Original article : Dabur Nepal’s woes mount after vigilance raid.

India, Russia boost ties with 11 agreements

NEW DELHI – India and Russia Tuesday signed 11 agreements, boosting ties in areas like science, the peaceful use of nuclear energy, culture and pharmaceuticals, but a key defence pact on the joint production of a fifth generation fighter aircraft was not announced.

The agreements were signed in the presence of Prime Minister Manmohan Singh …. Source article on Gaea Times at : India, Russia boost ties with 11 agreements.

Mahindra Thar Launched

NEW DELHI, INDIA (GaeaTimes.com)- The much awaited utility car of the year has been launched today by Mahindra & Mahindra. This sports utility vehicle, named as Mahindra Thar 4X4, will first hit the market in Rajasthan and Kerala and later, it would be introduced in the rest of the nation.
Mahindra Thar 4X4, is expected …. Source article : Mahindra Thar Launched.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.26 and the Reference Rate for Euro is ` 59.61 on December 21, 2010. The corresponding rates for the previous day (December 20, 2010) were ` 45.38 and ` 59.77 respectively. Based on the Reference Rate for US … Read more »».

Srinagar airport to activate low visibility landing aid

SRINAGAR – An Instrumentation Landing System (ILS) will soon be available at the Srinagar International Airport to help pilots land in low visibility, an official said Tuesday.

At present, the minimum visibility that must be available for landing of an aircraft at the Srinagar airport is two kilometres. The visibility is extremely poor at the …. Source : Gaea News Network.

Toyota agrees to pay $32 mn fine over recalls

TOKYO – Toyota Motor Corp Tuesday said it would pay a record $32.4 million in additional fines under an agreement with the US Transportation Department.

The world’s largest carmaker agreed to pay the civil penalties as the result of two separate investigations into its recall process, the US agency said late Monday.
“Safety is our …. Source article on Gaea Times at : Toyota agrees to pay $32 mn fine over recalls.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on December 21, 2010 are:

Amount (face value in ` crore)

Item

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

1 day Repo Auction
… Read : Liquidity Adjustment Facility : Auction Results.

US shuts down 80 websites for selling fake goods

WASHINGTON – Over 80 websites have been shut by US officials after it was found they were dealing in counterfeit goods.

The Department of Homeland Security has seized over 80 domain names since November, saying the bogus merchandise, including fake purses and prescription drugs, were harming the US economy and endangering American lives, Fox News …. Read the original article : US shuts down 80 websites for selling fake goods.

Delhi-Mumbai train services hit as Gujjars protest (Lead, Changing dateline)

BAYANA – Train services between Delhi and Mumbai were hit as Gujjars, demanding reservation for the community in government jobs, laid siege to a railway track near Bayana in Bharatpur district of Rajasthan.

Gujjars under the leadership of Colonel K.S. Bainsla, convener of Gujjar Arakshan Sangharsh Samiti, after holding a Mahapanchayat in Bayana, about 150 …. Read the original article : Delhi-Mumbai train services hit as Gujjars protest (Lead, Changing dateline).

WikiLeaks: British businessmen overeducated, says Branson

LONDON – Virgin group owner Richard Branson, who left school at 15 and ran his own business when others his age were studying, believes that “British entrepreneurs are overeducated”, reveals a US cable that was put out by WikiLeaks.

In January 2008, the multi-billionaire Branson was at a lunch hosted by Chinese businessmen in Beijing, …. Original article : WikiLeaks: British businessmen overeducated, says Branson.

West Bengal plans to give Metro stake to railways

KOLKATA – The West Bengal government plans to hand over its stake in the Kolkata Metro Rail Corporation (KMRC) to the railways, KMRC Managing Director Sumantra Chowdhury has said.

“The state government has proposed to hand over its stake if railways carry out the project. A proposal was presented to the centre in October this …. Source article on Gaea Times at : West Bengal plans to give Metro stake to railways.

Passengers stranded as Gujjar agitation continues

MATHURA – Hundreds of passengers were stranded Tuesday as movement of trains between Mathura in Uttar Pradesh and Rajasthan’s Bharatpur was disrupted by Gujjars who have been agitating for reservation in government jobs, officials said.

“The protesters have been sitting on the railway track at Piloo ka Pura near Bharatpur and trains had to be …. Original article : Passengers stranded as Gujjar agitation continues.

Money Market Operations as on December 20, 2010

Tokyo stocks rise on ease in worries over Koreas

TOKYO – Japanese shares rebounded in Tuesday morning trading, boosted by easing concerns about tensions on the Korean Peninsula.

The benchmark Nikkei 225 Stock Average gained 75.27 points, or 0.74 percent, to trade at 10,291.68 while the broader Topix index was up 5.04 points, or 0.56 percent, to 903.59.
South Korea ended a live-firing drill [..] Read the original article: here.

Boeing to provide satellite communication system to Mexico

LOS ANGELES – Boeing Company has said that it will provide a satellite communications system to Mexico under a one-billion-dollar contract.

The system, known as MEXSAT, will consist of three satellites, two ground sites, associated network operations systems and reference user terminals, Boeing said in a statement Monday.
MEXSAT will provide secure communications for Mexico’s … Read : Boeing to provide satellite communication system to Mexico.

Groupon Acquires Amazon VP Finance

When in the tech business one rarely says no to a $ 6 Billion take over by Google. Groupon did just that after a number of days of speculation it rejected the bid. It seems that they have also added a new CFO which a move that is giving fire to the speculation that … Read more »».

Sibal assures level-playing field for all telecos

NEW DELHI – The government will ensure a level-playing field for all telecom operators, irrespective of the technology platform they operate from, as the overriding objective was to maintain growth, Communications Minister Kapil Sibal said Wednesday.

“I was very happy the three captains of the telecom sector that I met were extremely constructive about their … Read this article on Gaea Times at : Sibal assures level-playing field for all telecos.

Sensex, Nifty witness choppy session

MUMBAI – A benchmark index of the Indian equities market was witnessing choppy session with positive bias Wednesday, due to lack of buying activities ahead of holiday season.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,118.82 points, up 58.50 points from the previous close of 20,060.32 points, … Read more »».

Tripura Gramin Bank posts profit for 10th year in row

AGARTALA – Tripura Gramin Bank (TGB) posted a net profit of Rs.35.35 crore, the highest among the regional rural banks (RRBs) in eastern and northeastern India, in the last fiscal, the bank’s chairman said Wednesday.

TGB, one of Indias 82 RRBs, has been making profit for the past 10 years consecutively.
The bank, celebrating 35th …. Original source : Tripura Gramin Bank posts profit for 10th year in row.

NDA demands PM’s resignation over 2G scam

NEW DELHI – The National Democratic Alliance (NDA) Wednesday sought Prime Minister Manmohan Singh’s resignation “on moral grounds” if the government fails to answer opposition concerns on the alleged irregularities in the 2G spectrum allocation.

“If you are saying the prime minister’s post should be above suspicion, then you should honestly form a JPC (joint … Read the original article on Gaea Times at : NDA demands PM’s resignation over 2G scam.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.13 and the Reference Rate for Euro is ` 59.32 on December 22, 2010. The corresponding rates for the previous day (December 21, 2010) were ` 45.26 and ` 59.61 respectively. Based on the Reference Rate for US … Original source on Gaea Times at : RBI Reference Rate for US $ and Euro.

Bangladesh, India to set up border bazaars

DHAKA – Bangladesh and India are working to set up a number of haats – or local markets – along the border as a way of easing access for local traders and to curb smuggling.

The first markets would begin in India’s northeastern state of Tripura that has proposed seven locations.
Visiting Tripura Minister of …. Original article on Gaea Times at : Bangladesh, India to set up border bazaars.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on December 22, 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.

Underwriting Auctions for Government Securities

The Government of India have announced the sale(reissue) of “7.17 per cent Government Stock 2015” for a notified amount of ` 2,000 crore (nominal), "8.08 per cent Government Stock 2022" for a notified amount of ` 2,000 crore (nominal) and "8.30 per cent Government Stock 2040” for a … Read more >>>.

India-Bangladesh to start work on bridge this month

AGARTALA – Indian and Bangladeshi officials will start work later this month on a bridge over the Feni river in Tripura to get access to Bangladesh’s Chittagong sea port for carrying goods and heavy machinery from India to its landlocked northeast, says a minister.

Tripura Commerce and Industries Minister Jitendra Chaudhury held separate meetings in … Original article on : India-Bangladesh to start work on bridge this month.

ArcelorMittal bid goes before Canadian regulators

TORONTO – Canadian regulators will hear Wednesday a challenge to ArcelorMittal’s bid for Canadian mining company Baffinland Iron Mines Corp. for $492 million.

The hostile bidder Nunavat Iron Ore Tuesday succeeding in getting a hearing by the Ontario Securities Commission for a temporary ban on Baffinland’s shareholder new rights plan for selling the mining company … Read : ArcelorMittal bid goes before Canadian regulators.

Sensex opens 58 points up on positive global cues

MUMBAI – A benchmark index of Indian equities opened 50 points higher Wednesday, taking positive cues from global stocks.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 20,118.82 points, up 58.50 points from the previous close, after gaining nearly one percent Tuesday.
At the National Stock Exchange C&X …. Source : Sensex opens 58 points up on positive global cues.

Microsoft Windows 7 Phone passes 1.5 mn mark

SAN FRANCISCO – More than 1.5 million Windows Phone 7 devices have been sold in the six weeks since the smartphone went on the market, Microsoft announced Monday.

While far from the 300,000 daily activations attributed to the iPhone and phones powered by Google’s Android operating system, the Windows Phone sales figures met the company’s … Read : Microsoft Windows 7 Phone passes 1.5 mn mark.

Money Market Operations as on December 21, 2010

…. Source : Money Market Operations as on December 21, 2010.

Tokyo stocks inch up on US rally

TOKYO – Japanese shares edged up in Wednesday morning trading, supported by a rally on Wall Street.

The benchmark Nikkei 225 Stock Average gained 5.95 points, or 0.06 percent, to trade at 10,376.48 while the broader Topix index was up 2.04 points, or 0.23 percent, to 908.25.
Overnight, major US stock indices closed at their … Read : Tokyo stocks inch up on US rally.

Japan exports up 9.1 percent, trade surplus falls in November

TOKYO – Japanese exports rose 9.1 percent in November from a year earlier to 5.44 trillion yen ($64.9 billion), the government said Wednesday.

The rise was the 12th consecutive monthly increase, the Finance Ministry said in a preliminary report.
Japan’s imports climbed 14.2 percent to 5.28 trillion yen, leaving the country’s trade surplus at 162.8 …. Source : Gaea News Network.

Intel Says McAfee Acquisition Approved By FTI

Intel announced on Tuesday that US anti-trust regulators announced that the 7.68-billion-dollar acquisition of the computer security firm McAfee, known for its antivirus and network security product. However the deal is still being examined in Europe.
The Federal Trade Commission has concluded its review of the proposed McAfee transaction and has cleared it,
Intel vice president …. Original article : Intel Says McAfee Acquisition Approved By FTI.

US stocks rise to highest levels in two years

NEW YORK – Major US stock indices Tuesday closed at their highest levels in more than two years as investors looked to 2011 with increased confidence.

The broader Standard & Poor’s 500 Index climbed 0.60 percent to 1,254.60, exceeding its close of 1,251.70 Sep 12, 2008 – the last session before Lehman Brothers filed the … Read more »».

SalesForce Acquires Etacts A Social CRM Startup

Salesforce has acquired Etacts, a Y-combinator startup in the contact management system for an undisclosed amount. The company tried to introduce contact management and as well as relationship management for an undisclosed sum. The Etacts product tied to bring relationship management to its users’ personal e-mail contacts. The usp of their tech was an … Read more >>.

AT&T Bags Qualcomm Spectrum For 1.93 Billion

Network major AT&T has agreed to pay $1.93 billion for the wireless spectrum via Qualcomm Inc. The reported spectrum should have about 300 million people covered. This in accordance with AT&T’s plan to upgrade its network and continue its efforts to build the next generation LTE network.
AT&T is noted as the second … Read : AT&T Bags Qualcomm Spectrum For 1.93 Billion.

India, Russia sign 29 agreements from defence to trade

NEW DELHI – India and Russia Tuesday inked 29 bilateral agreements, which include building advanced stealth jets to increasing banking linkages and setting up a steel plant.

While 11 agreements were signed in the presence of Prime Minister Manmohan Singh and Russian President Dmitry Medvedev here Tuesday, 18 more deals were signed on the sidelines … Original article on : India, Russia sign 29 agreements from defence to trade.

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

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.

Cool Grey 11 Sneakers Make People Crazy

SAN FRANCISCO (GaeaTimes.com)- Ever since Nike announced that a limited edition Cool Grey 11 Retro Sneakers will be launched ahead of Christmas, the fans of stalwart former basketball player Michael Jordan were on cloud nine. The retro sneakers was launched on Dec 23rd midnight at some selected retail outlets which made thousands of …. Source article on Gaea Times at : Cool Grey 11 Sneakers Make People Crazy.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on December 24, 2010 are:

Amount (face value in ` crore)

Item

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

3 days Repo Auction
… Original article on : Liquidity Adjustment Facility : Auction Results.

US approved business with blacklisted countries: NYT

WASHINGTON – The US has allowed American companies to do billions of dollars worth of business with Iran and other countries blacklisted as sponsors of terrorism, The New York Times reported Friday.

Despite economic sanctions and trade embargoes enforced by the US government, the Treasury’s Office of Foreign Assets Control can make certain exceptions.
The … Read the original article on Gaea Times at : US approved business with blacklisted countries: NYT.

Rupee Co-operative Bank Ltd., Pune, Maharashtra ??? Penalised

The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees Five lakh only) on Rupee Co-operative Bank Ltd., Pune, 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 violation …. Source article on Gaea Times at : Rupee Co-operative Bank Ltd., Pune, Maharashtra ??? Penalised.

Foreign Exchange Turnover Data

The Reserve Bank of India today released the data showing daily merchant and inter-bank transactions in foreign exchange for the period December 6, 2010 to December 10, 2010.

All Figures are in USD Millions

MERCHANT

INTER BANK

Position
Date

Spot

FCY/INR Forward

Forward
… Original source on Gaea Times at : Foreign Exchange Turnover Data.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.23 and the Reference Rate for Euro is ` 59.34 on December 24, 2010. The corresponding rates for the previous day (December 23, 2010) were ` 45.02 and ` 59.12 respectively. Based on the Reference Rate for US … Read more »»».

Indian IT industry upset over US healthcare cost burden

BANGALORE – The resilient Indian IT industry Saturday expressed outrage over the latest US law to increase the visa fee on its skilled workers to share the healthcare burden of 9/11 victims.

“It’s a retrograde step targeting the Indian IT industry again to meet the healthcare costs in the US. It is a disappointing move,” …. Source article : Indian IT industry upset over US healthcare cost burden.

Sensex slides 0.28 percent to 19,926 points

MUMBAI – A benchmark index of the Indian equities market declined 0.28 percent in the morning session Friday on selling pressure in auto and banking stocks.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 19,911.46 points, down 71.42 points from the previous close of 19,982.88 points.
The Sensex was …. Original article on Gaea Times at : Sensex slides 0.28 percent to 19,926 points.

Delhi Metro completes eight years, plans more trains

NEW DELHI – The Delhi Metro, which is rapidly becoming the lifeline of the capital carrying some 16 lakh passengers daily, completed eight years in operation Friday with plans afoot to add more trains and increase ridership further.

The year 2010 was a huge hit as the daily ridership doubled during the Commonwealth Games Delhi …. Original article on Gaea Times at : Delhi Metro completes eight years, plans more trains.

Italy’s Fiat dealers in for a sad Christmas

Milan, Dec 24 (IANS/AKI) Holiday shoppers pack the streets around Milan’s famous Gothic cathedral shopping centre carrying bags from Gap, Gucci and Prada. But a few blocks away at a Fiat showroom, there’s no sign of the bustle.

About a third of Italy’s 3,600 dealerships are at risk of going bankrupt in the next 18 …. Read the original article : Italy’s Fiat dealers in for a sad Christmas.

Tokyo stocks fall on stronger yen

TOKYO – Japanese shares were down in Friday morning trading as the yen rose against both the dollar and the euro.

The benchmark Nikkei 225 Stock Average lost 73.52 points, or 0.71 percent, to trade at 10,272.96 while the broader Topix index was down 4.60 points, or 0.51 percent to 901.18.
A stronger yen makes …. Source article on Gaea Times at : Tokyo stocks fall on stronger yen.

Money Market Operations as on December 23, 2010

US threatens China with WTO case on rare earth exports

WASHINGTON – US trade officials Thursday threatened trade action against China over exports of rare earth materials, one day after embarking on a separate case before the World Trade Organization (WTO) against wind power subsidies.

The office of the US Trade Representative (USTR) also accused China of a “troubling trend” towards state intervention into its …. Source : Gaea News Network.

US stocks mixed on uncertain economic data

NEW YORK – US stocks were mixed Thursday ahead of the Christmas holiday, with the Dow Jones Industrial Average hitting a new two-year high but other major indices losing ground.

The investor uncertainty was caused by mixed data from a fragile US economy, with orders of durable goods falling more than expected but a gauge …. Source : Gaea News Network.

London Based Investment Firms Gauging Twitter User Emotions For Hedge Fund

This news is a bit late but it should come as a welcome to those of you who missed. An investment firm based in London is actively using twitter as a stock market predictions. This gives fuel to the fire of the idea that twitter can actually be sourced for more useful things than …. Original source : London Based Investment Firms Gauging Twitter User Emotions For Hedge Fund.

DP World sells 76 pc of Australian operating arm

Dubai, Dec 24 (IANS/WAM) Dubai-based DP World, the world’s major port operator, has inked a deal to sell 75 percent of its Australian operating arm to Citi Infrastructure Investors for $1.5 billion.

The state-backed firm has said that proceeds will go to reducing net debt.
DP World will continue to provide management services at the … Read more : DP World sells 76 pc of Australian operating arm.

Google Buys Port Authority Building Spends 2.9 Billion Dollars

NEW YORK (GaeaTimes.com) — The former Port Authority building located at New York’s 111 Eighth Avenue. The amount by which Google made the purchase was undisclosed..
The report first surfaced in early December. It can be speculated that the deal went through in the 1.9 billion range. the 2.9 million worth of square foot in …. Original article : Google Buys Port Authority Building Spends 2.9 Billion Dollars.

‘Land a major hindrance in developing tourism in Bengal’

KOLKATA – Lack of availability of land is posing a major hindrance in developing tourism in West Bengal, a top official said Thursday.

“A major impediment in developing tourism in the state is the lack of land availability,” West Bengal Tourism Development Corporation Managing Director T.V.N. Rao said at a seminar here.
He also …. Read the original article : here.

Tomatoes join high-priced onions, more supplies come from Pakistan (Intro Roundup)

NEW DELHI – As onion prices continued to pinch, tomatoes too joined the league forcing the government to think of banning their exports. Meanwhile, more truckloads of onions came in from Pakistan to tide over the situation and the Delhi government opened 400 outlets in the city to sell onions at Rs.40 a kg.

Mumbai’s excise, customs collections cheer up Mukherjee

MUMBAI – Excise and customs collections in Mumbai till November during this fiscal have been satisfactory, Union Finance Minister Pranab Mukherjee said Thursday after a meeting with chief commissioners.

“Mumbai’s indirect tax collections up to November stood at Rs.56,000 crore. Customs duty collection from April-November was Rs.28,000 crore, while central excise collections amounted to Rs.16,000 …. Original article : Mumbai’s excise, customs collections cheer up Mukherjee.

Christmas toy makers in China in dire straits

BEIJING – Chinese manufacturers who supply 60 percent of the world’s Christmas toy products are in dire straits as rising labour and material costs as well as the appreciation of the renminbi are forcing them to shut business.

“If the situation does not improve, we’ll definitely quit,” said Cai Qichang, owner of an arts and … Original source on Gaea Times at : Christmas toy makers in China in dire straits.

Google brings extra Christmas cheer to Nepal

KATHMANDU – Despite a deepening political crisis that has cast a dark shadow over its floundering peace process, the Himalayan republic of Nepal still has a good cause to rejoice this Christmas with a pat on the back coming from an unexpected benefactor – Google.

For two days starting from Christmas eve, Google replaced its …. Source : Gaea News Network.

Six Canadian MPs for Vibrant Gujarat summit

TORONTO – With Canada joining Japan in becoming a partner country at the next Vibrant Gujarat summit in January, six Canadian MPs and dozens of businessmen will make a pitch for Canadian investment and technology in the fastest growing Indian state.

Held biennially immediately after Pravasi Bharatiya Divas since 2003, the Vibrant Gujarat summit is …. Source : Six Canadian MPs for Vibrant Gujarat summit.

Christmas Village greets tourists at China’s north pole

BEIJING – A Santa Claus House, a Christmas Post Office and snow buildings are all set to greet the visitors to the Christmas Village which was opened in China’s north to attract more number of tourists in winter.

The Village in Mohe county of the northeastern Heilongjiag province which is popular as the “country’s north …. Source : Gaea News Network.

Virtualisation poses challenges to disaster recovery plans: study

BANGALORE – Indian enterprises face challenges in protecting and recovering data as they increasingly adopt virtualisation and cloud computing, a study by global security solutions provider Symantec Corporation revealed.

“Virtualisation is having a big impact on the disaster recovery plans of Indian enterprises due to the complexity of managing disparate virtual, physical and cloud resources … Read this article on Gaea Times at : Virtualisation poses challenges to disaster recovery plans: study.

Pakistani onions poor, claim Chandigarh wholesalers

CHANDIGARH – Chandigarh has refused to accept “poor quality” onions from Pakistan and wholesalers here Saturday said they will take supplies of the commodity – whose prices have been skyrocketing – from Rajasthan and Gujarat at competitive prices.

As many as 177 truckloads of onions reached Punjab from Pakistan through the Attari-Wagah border check-post Tuesday. … Original source on Gaea Times at : Pakistani onions poor, claim Chandigarh wholesalers.

First women-only call centre opens in Saudi Arabia

JEDDAH – Saudi women, who are prohibited by society from living or working independently without written permission from a male guardian, will now be part of a first-of-its-kind “women-only” call centre in the country.

Kanoo Travel, one of the leading travel management companies in the Middle East, said 20 female employees have undergone telephone operation … Original source on Gaea Times at : First women-only call centre opens in Saudi Arabia.

Snow and ice plunge Europe into Christmas transport chaos

BERLIN/PARIS/LONDON – Winter weather hit weary travellers across Europe Friday as pre-Christmas ice and snow disrupted air and road networks.

In Paris around 2,000 passengers were marooned at Europe’s third largest airport, Charles de Gaulle. Around a third of Friday’s 1,200 scheduled flights were cancelled after a strike by workers at Glykol, which makes de-icing [..] Read the original article: here.

Suspended officer’s message gets chief minister on wrong foot

BHOPAL – Madhya Pradesh Chief Minister Shivraj Singh Chouhan was caught on the wrong foot Friday when he released a book that carried a message from an IAS officer who has been suspended by the government on corruption charges.

The book “Sankalan,” published by the women and child welfare department, was released during the launch …. Source : Suspended officer’s message gets chief minister on wrong foot.

Ready to discuss ‘no-go’ definition: Jairam Ramesh

NEW DELHI – Environment Minister Jairam Ramesh Friday said he is ready to discuss a more liberal definition of “no-go” areas where mining activities were prohibited on environmental concerns.

“I am ready to sit down and discuss a more liberal definition of what is ‘no-go.’ I am open-minded at every step,” Ramesh told reporters …. Original article : Ready to discuss ‘no-go’ definition: Jairam Ramesh.

Onion prices down to Rs.40/kg on Christmas eve

NEW DELHI – Delhiites were in for a pleasant surprise on Christmas eve as onion prices were down to Rs.40 per kg Friday after having sky-rocketed to Rs.80 per kg a few days back.

Supply from Pakistan, coupled with raids on hoarders by the authorities, resulted in a fall in onion prices in the wholesale … Original article on : Onion prices down to Rs.40/kg on Christmas eve.

Buddhadeb wants India-Bangaldesh working group

KOLKATA – West Bengal Chief Minister Buddhadeb Bhattacharjee Friday suggested an India-Bangladesh joint working group to identify areas of trade and commerce between the two countries.

“To (face) the intense competition in the global market, countries need to come closer, particularly Bangladesh, India and Bhutan. It’s high time we rise above local outlook. It’s time …. Original source : Buddhadeb wants India-Bangaldesh working group.

Pakistan owes $53 bn foreign debt

ISLAMABAD – Pakistan is under the burden of more than $53 billion foreign debt despite the repayment of over $6 billion in the last three years.

The country has paid $2.3 loan in the last financial year followed by $2.3 billion in 2008-9 and $1.13 billion in 2007-08 along with the interest worth $982.6 million, …. Read the original article : Pakistan owes $53 bn foreign debt.

CBI quizzes Raja in 2G spectrum scam (Second Lead)

NEW DELHI – The Central Bureau of Investigation (CBI) Friday questioned former communications minister A. Raja here for several hours in connection with the 2G spectrum scandal, two weeks after it raided his premises in New Delhi and Tamil Nadu.

The DMK leader, who was forced to quit Prime Minister Manmohan Singh’s cabinet last month. …. Source article on Gaea Times at : CBI quizzes Raja in 2G spectrum scam (Second Lead).

Tata Steel evaluating Rio Tinto’s offer for Riversdale

MUMBAI – Tata Steel Ltd Friday said it was evaluating Rio Tinto’s $3.91 billion takeover offer for Riversdale Mining.

“Tata Steel will evaluate the takeover bid in the context of other alternatives available to Tata Steel,” the company said in a regulatory filing.
The company owns 24 percent stake in Riversdale Mining.
The …. Read the original article : Tata Steel evaluating Rio Tinto’s offer for Riversdale.

Sensex rebounds 91 points, Reliance Comm surges 10 percent (Roundup)

MUMBAI – A benchmark index of the Indian equities market closed 91 points higher Friday, snapping two-day losing streak on the back of good buying support in consumer durables and FMCG stocks.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the red at 19,911.46 points, settled at 20,073.66 …. Source article : Sensex rebounds 91 points, Reliance Comm surges 10 percent (Roundup).

Shortage of masons, labourers hit real estate developers in Pune

PUNE – A shortage of masons and skilled labourers is affecting construction industry in Pune.

All these years, a majority of this labour force used to come from the Orissa, Bihar and Jharkhand but with ample opportunities in their own states, these labourers are not too keen to hop over to [..] Read the original article: here.

Delhi Metro’s airport line likely to begin in 15 days

NEW DELHI – The much-awaited Airport Express Line of Delhi Metro is likely to be operational in the next 15 days, its managing director E. Sreedharan said Friday.

He said the work on the 22-km Airport Express line was complete and operations could begin in 24 hours. But the Delhi Metro Rail Corporation (DMRC) was … Read more >>.

45 truckloads of onions arrived from Pakistan Friday

AMRITSAR – Forty-five trucks loaded with onions arrived here Friday from Pakistan through the Attari-Wagah border check-post Friday, an importer said. So far, 177 truckloads of onions have reached India since Tuesday to check spiralling prices of the vegetable in the country. Each truck carries around 10-12 tonnes of onions.

Today around 45 trucks, carrying … Read more >>.

Government monitoring foreign capital impact: Mukherjee

NEW DELHI – The government is constantly monitoring the impact of foreign capital inflows on exchange rates and there was no need to press the panic button, Finance Minister Pranab Mukherjee said Friday.

So far, foreign capital flows are well within the absorptive capacity of our economy and exchange rate and monetary management has …. Source : Gaea News Network.

Delhi Metro to get new helpline number

NEW DELHI – Delhi Metro is all set to get a new helpline number to provide better and improved customer care services, an official said Sunday.

The new 24-hour helpline number, 155363, which will replace the existing number, 128128, and will be operational from Jan 1 to register complaints and suggestions regarding Delhi Metro services.
…. Read the original article : here.

New ‘Silk Route’ via Bangladesh to connect northeast India

AGARTALA – State-owned Oil and Natural Gas Corporation (ONGC) will build a new ‘Silk Route’ via Bangladesh – a 50 km road connecting Indias landlocked northeastern states with neighbouring countries – a top company official said.

ONGC will invest Rs.250 million ($5.5 million) in Bangladesh for the project that will will also see … Original source on Gaea Times at : New ‘Silk Route’ via Bangladesh to connect northeast India.

Record holiday crowd at Taj Mahal

AGRA – Chilly winds and foggy conditions notwithstanding, the holiday crowd at the Taj Mahal in Agra continued to swell over the weekend, resulting in long queues at the monument to love and traffic jams on its approaches.

“Despite the disruption of rail and road traffic by the Gujjar agitation, the number of people visiting … Read more >>>.

First Indian seaplane service launches Monday

NEW DELHI – India will Monday get its first seaplane service that is expected to improve connectivity and tourism in the Andaman and Nicobar Islands in the Bay of Bengal.

“This is the first time that seaplane operations are being introduced in India. The scheme approved by the government of India for Andaman and … Read : First Indian seaplane service launches Monday.

Futures trading in sugar to re-start in India Monday

MUMBAI – Futures trading in sugar is set to resume Monday after the government’s ban for 19 months, with the Forward Markets Commission (FCC) regulator giving its formal nod to commodity exchanges.

The permission was given after a strong outlook for production during this sugar year, which started Oct 1, estimated at 25.5 million tonnes [..] Read the original article: here.

Heavy fog disrupts flights, trains in Delhi

NEW DELHI – Heavy fog disrupted flight and train schedules in the capital, leaving thousands of passengers stranded in the bitter cold at the international airport and railway station Sunday.

A thick blanket of fog enveloped the capital, bringing visibility to near zero. The general visibility at the main and new runways at the Indira … Original article on : Heavy fog disrupts flights, trains in Delhi.

Huge number of Indian youth remain unemployable, says report

NEW DELHI – Rapid economic growth in the country is expected to generate 10-15 million jobs by next year but lack of suitable skilled candidates poses a major threat, a leading industry lobby said Sunday.

“Approximately 10 to 15 million jobs are expected to be created by next year, in which 75 percent will require …. Original article : Huge number of Indian youth remain unemployable, says report.

Russia’s ‘Silicon Valley’ to cost $4 bn

Moscow, Dec 26 (IANS/RIA Novosti) The construction of Skolkovo research hub near Moscow, dubbed Russia’s answer to Silicon Valley in the US, could cost up to 120 billion rubles (nearly $4 billion), an official said Saturday.

The project is expected to complete by 2015, Viktor Maslakov, the city manager of the Skolkovo fund, said. The …. Source article on Gaea Times at : Russia’s ‘Silicon Valley’ to cost $4 bn.

Fog in Delhi disrupts Himachal flights

SHIMLA – Flights in and out of Himachal Pradesh were badly hit Sunday morning owing to heavy fog in Delhi, an official said here.

“Flights from Delhi to Shimla and from Delhi to Kullu were cancelled at the last minute due to dense fog in Delhi. This is the first time this season that air … Read the original article on Gaea Times at : Fog in Delhi disrupts Himachal flights.

Fog disrupts flights in Delhi

NEW DELHI – Delhi saw a heavy fog cover Sunday morning that led to a sharp drop in visibility, disrupting several international and domestic flights at the airport here, officials said.

The thick fog saw the visibility dropping to near zero in the city, according to the India Meteorological Department (IMD). The general visibility at …. Read the original article : here.

Buy computer cartridge, get two kg onion free

KOLKATA – While onion prices are bringing tears in the eyes of customers, a computer accessories outlet in Kolkata is giving away the bulb as freebies to romp up its sales.

Talking about the innovative marketing strategy, Tushar Ranka, the shop owner, said: “We are offering a kg of onion for every cartridge refill and …. Source : Gaea News Network.

China raises interest rates again

BEIJING – The People’s Bank of China said it will raise the one-year lending and deposit interest rates by 25 basis points from Sunday, the second rate hike this year.

The bank had raised the benchmark lending and deposit rates Oct 20 by 25 basis points, first in about two years.
“This rate hike …. Original source : China raises interest rates again.

Sweden eyes stronger ties with UAE

Stockholm, Dec 25 (IANS/WAM) Sweden Saturday expressed its desire for wider trade and investment relations with the Gulf Cooperation Council (GCC) and the United Arab Emirates.

“We see many good reasons to deepen our cooperation with the GCC and the UAE through and beyond a Free Trade Agreement,” Josa Karre, an official at the …. Read the original article : here.

Trains cancelled, highway blocked as Gujjars continue stir

BAYANA – Train and road traffic via Bharatpur district of Rajasthan was disrupted Saturday, the sixth day of the Gujjar agitation for reservation in jobs, officials said.

Thousands of train passengers were stranded while trucks lined up on the national highway to Jaipur. Train services between Agra and Jaipur via Bharatpur remained suspended, while many … Read more : Trains cancelled, highway blocked as Gujjars continue stir.

All factors to be considered before diesel price hike: Pranab

HALDIA – Union Finance Minister Pranab Mukherjee Saturday said the government will consider all factors before taking a decision on hiking the price of diesel.

“It is very hypothetical,” Mukherjee told mediapersons when asked to spell out the thinking within the government on raising diesel prices.
“A decision will be taken by the group of …. Source : All factors to be considered before diesel price hike: Pranab.

Onion prices: Delhi wholesale market to function Sunday

NEW DELHI – To ensure that onion and tomato prices remain stable over the weekend, the Azadpur wholesale market will remain open on Sunday, the market association announced Saturday.

According to the Azadpur Agriculture Product Market Committee (APMC), routine trading will be held at the market like on weekdays. The wholesale market normally remains closed … Read the original article on Gaea Times at : Onion prices: Delhi wholesale market to function Sunday.