Business News – Newsletter for January 8, 2011

NASL bags euro 20 mn order from Nalco

MUMBAI – NTPC ALSTOM Power Services Pvt Ltd (NASL) Saturday said it has bagged an order worth euro 20 million from the National Aluminium Company (Nalco).

“NASL, a joint venture company of Alstom Group and NTPC, has been awarded a contract worth approximately euro 20 million from Nalco to retrofit the electrostatic precipitators (ESPs) at …. Original article on Gaea Times at  : NASL bags euro 20 mn order from Nalco.

Indraprastha Gas third quarter net up 14 percent

MUMBAI – State-run gas utility company Indraprastha Gas Ltd Saturday reported a 14 percent increase in its net profit for the third quarter of the current fiscal, which stood at Rs.671.916 million as against Rs.589.322 million in the like period of 2009.

“Company has posted a net profit after tax of Rs.671.916 million for the … Read more »»».

Rao takes charge of Paradip Port

BHUBANESWAR – G.J. Rao, former chairman of the Tuticorin Port Trust in Tamil Nadu, has taken charge as chairman of Orissas Paradip Port Trust.

Rao, 58, assumed charge Friday, the port said Saturday.
Rao joined Paradip Port Trust in 1981 and became deputy chairman of the new Mangalore Port Trust, deputy chairman of the Chennai … Read more >>.

Fog hits air traffic in Chandigarh

CHANDIGARH – The Chandigarh airport remained shut for the fourth straight day Saturday in the wake of thick fog that hit air traffic in the region, officials said.

No flights have operated from here since Wednesday.
“We are facing bad weather not only in Chandigarh but in the whole region including Delhi. Visibility is too …. Read the original article  : Fog hits air traffic in Chandigarh.

Thick fog hits flights, railways in Delhi

NEW DELHI – A thick blanket of flog that reduced visibility in the Indian capital Saturday seriously disrupted flights and trains, leaving thousands stranded, officials said.

About a dozen domestic and four international flights were delayed, officials at the Indira Gandhi International Airport said.
One official said the airport was expected to return to normalcy … Original article on : Thick fog hits flights, railways in Delhi.

Britons did free work worth 11 bn pounds in 2010

LONDON – British officegoers failed to utilise a combined total of 111 million holidays in 2010 and did free work worth 11 billion pounds, a study has found.

The average worker in Britain failed to take 3.8 days of annual leave, as a result of which firms benefited by 10,870,356,000 pounds, the Daily Express reported …. Original article on Gaea Times at  : Britons did free work worth 11 bn pounds in 2010.

Malaysians miss Indian onions, Chinese garlic

KUALA LUMPUR – Shortage of onions in India has hit Malaysia too. Red onions imported from India are preferred by people in this country due to its spicier taste, a media report said.

The import of red onions from India and garlic from China has been affected due to a shortage in supply in these … Original article on : Malaysians miss Indian onions, Chinese garlic.

NRIs on electoral rolls soon, single card for diaspora: PM

NEW DELHI – India will merge the two visa facilitation cards that are issued to people of Indian origin and soon register non-resident Indians in the electoral rolls to help them exercise their franchise, Prime Minister Manmohan Singh said Saturday.

“We recently reviewed the Overseas Citizenship of India Card and Person of Indian Origin Card. … Read more >>.

NRIs will be on India’s electoral rolls soon: PM

NEW DELHI – India has decided to merge the two visa facilitation cards that are issued to people of Indian origin and register non-resident Indians in the electoral rolls to let them exercise their franchise, Prime Minister Manmohan Singh said Saturday.

“We recently reviewed the Overseas Citizenship of India Card and Person of Indian Origin … Read the original article on Gaea Times at : NRIs will be on India’s electoral rolls soon: PM.

Wall Street stocks fall slightly on mixed jobs report

NEW YORK – US stocks fell slightly Friday, after the US unemployment rate dropped to its lowest level in 19 months, but the number of jobs added in December still fell below expectations.

The Labour Department said the jobless rate dropped to 9.4 percent from 9.8 percent in November, partly caused by people who stopped …. Source article  : Wall Street stocks fall slightly on mixed jobs report.

Mercedes-Benz sales race ahead on China, US demand

STUTTGART – Luxury German carmaker Mercedes-Benz said Friday its sales last year jumped by 15.3 percent on the back of strong demand from China and the US.

The year-on-year increase to 1.16 million cars in 2010 helped Mercedes’ parent company Daimler AG to beat its forecast of a 10-percent rise.
“Last year was a complete … Original article on : Mercedes-Benz sales race ahead on China, US demand.

Telcos given 6 months to get monitoring solution for 3G video calls

NEW DELHI – The government is likely to send notices to telecom service providers in one week directing them to install interception solutions within six months for monitoring of services, including video calls, using the third generation (3G) spectrum.

“The department of telecom (DoT) will be communicating with the telcos formally and sending them …. Source  : Telcos given 6 months to get monitoring solution for 3G video calls.

Panasonic India plans to enter business solutions venture by next year

KOLKATA – Consumer durables firm Panasonic India plans a foray into business solutions venture in the country by the next year, a top company official said here Friday.

The company, which is a market leader in the sector in countries like Japan and Malaysia, was looking into all aspects to firm up its plans.
“We … Original source on Gaea Times at : Panasonic India plans to enter business solutions venture by next year.

Punjab traders stop sending tomatoes, vegetables to Pakistan

AMRITSAR – Indian traders here Friday stopped sending trucks laden with tomatoes and other vegetables to Pakistan.

Virtually showing discontent over Pakistan’s decision to stop sending onions to India via land and rail route, nearly 70 trucks of tomatoes, potatoes, chili and ginger were stopped by the traders near the Attari-Wagah border.
Around 30 Amritsar-based … Read more >>>.

Chhattisgarh to set up SEZs

RAIPUR – Chhattisgarh’s Bharatiya Janata Party government Friday approved setting up special economic zones (SEZs) in the state, a minister said.

“The government has approved to set up SEZs in Naya Raipur and Rajnandgaon district in which government expects an investment of about Rs.5,000 crore from industrialists,” Industry Minister Dayaldas Baghel told reporters.
He said …. Source article  : Chhattisgarh to set up SEZs.

‘Government needs to incentivise health insurance’

NEW DELHI – The government should incentivise health insurance, especially for low-income people, to ensure good health for all, a senior industry official said here Friday.

Everyone should have access to good medical care. It is not possible without insurance cover, Director of Star Health and Allied Insurance Company D.R. Kaarthikeyan told reporters.
… Original source on Gaea Times at : ‘Government needs to incentivise health insurance’.

Coordination needed to bring down food inflation: Congress

NEW DELHI – With the government under opposition’s attack over rising food inflation, the Congress Friday said both central and state governments have to work in coordination to bring prices under control.

Congress spokesman Shakeel Ahmed said Finance Minister Pranab Mukherjee has written to state chief ministers asking them to take steps against hoarders and …. Original source  : Coordination needed to bring down food inflation: Congress.

Government lacks instruments to tackle food inflation: Pronab Sen

KOLKATA – The government doesnt have enough instruments to tackle high food inflation in the short term, principal advisor to the Planning Commission of India Pronab Sen said here Friday.

“We have very little instruments to handle it. Using monetary policy would mean hurting growth and it would be a high price to be paid,” … Read more »».

India, Sri Lanka to resume ferry services after 25 years

COLOMBO – Sri Lanka and India Friday reached agreement on resuming passenger ferry services between the two countries that were disrupted 25 years ago by Sri Lanka’s civil war, officials said.

The Indian high commissioner in Colombo, Ashok Kantha, signed the agreement with Sri Lankan Ports Ministry Secretary Sujatha Cooray in the Sri Lankan capital.
…. Source article  : India, Sri Lanka to resume ferry services after 25 years.

Reddys into illegal mining, cancel license: court panel

BANGALORE/NEW DELHI – A Supreme Court appointed panel has recommended axing mining license to the Reddy brothers, mining barons and ministers in Karnataka’s Bharatiya Janata Party (BJP) government, as they have been found to be into illegal mining.

“Exemplary compensation” should be paid by them for their illegal mining besides having their licenses cancelled, the …. Source article on Gaea Times at  : Reddys into illegal mining, cancel license: court panel.