Business News – Weekly Newsletter for January 3-10, 2011

Monday, January 10, 2011

India’s exports rise 26.5 percent in November

NEW DELHI – India’s exports rose 26.5 percent to $18.89 billion in November while imports increased by 11.2 percent to $27.79 billion, narrowing the trade deficit to $8.9 billion in the month, official data showed Monday.

Cumulative value of exports for the period April-November 2010 was $140.29 billion as against $110.69 billion during the …. Original article : India’s exports rise 26.5 percent in November.

Shutdown by anti-mining group hits life in Orissa

BHUBANESWAR – A dawn-to-dusk shutdown by an anti-mining group to protest the killing of two people in a police gunfight crippled life in parts of Orissa Monday, police said.

Normal life was severely affected in villages and towns under Jharbandh, Padampur and Paikmal block in Bargarh district with shops shuttered and commercial vehicles … Read this article on Gaea Times at : Shutdown by anti-mining group hits life in Orissa.

Sensex quiet in afternoon trade

MUMBAI – A benchmark index of the Indian equities market Monday was ruling about 100 points higher in the afternoon, led by gains in metal and realty stocks.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,621.61 points, was ruling at 20,611.67 points, up 102.58 points or 0.5 percent … Read the original article on Gaea Times at : Sensex quiet in afternoon trade.

Onion prices will dip by mid-January, say traders

NEW DELHI – The sky-rocketing prices of onion that have come down marginally are expected to fall further by mid-January, Delhi’s wholesale traders said.

Traders in Delhi’s Azadpur Mandi, Asia’s biggest wholesale vegetable market, said that onion prices are likely to witness a sharp fall by Jan 20 with the arrival of fresh …. Original source : Onion prices will dip by mid-January, say traders.

Reliance Capital’s unit buys 26 percent in Indian Commodity Exchange

MUMBAI – Reliance Exchangenext Limited (R Next), a subsidiary of financial services major Reliance Capital Monday said it has acquired a 26 percent stake in Indian Commodity Exchange (ICEX), marking its foray into the commodity futures exchange business.

The Reliance Capital unit, part of the Anil Dhirubhai Ambani Group, acquired the stake from Indiabulls Financial … Read this article on Gaea Times at : Reliance Capital’s unit buys 26 percent in Indian Commodity Exchange.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 44.67 and the Reference Rate for Euro is ` 59.37 on January 3, 2011. The corresponding rates for the previous day (December 31, 2010) were ` 44.81 and ` 59.81 respectively. Based on the Reference Rate for … Original article on : RBI Reference Rate for US $ and Euro.

China to go into 4G telecom technology by 2015

BEIJING – China’s homemade fourth-generation telecommunication technology TD-LTE that can download over 150 megabytes per second will be used globally by 2015, say Chinese industry experts.

The next-generation Time Division-Long Term Evolution (TD-LTE) technology, currently under trial, is promoted by the China Mobile Communications Co.
“Many international operators have contacted China Mobile and expressed willingness … Read more >>>.

Malaysian Indian leader to seek more business ties in India

KUALA LUMPUR – Malaysian Indian leader S. Samy Vellu will begin his new assignment this week as his countrty’s special envoy to South Asia by seeking more business ties in the infrastructure sector.

He will be in New Delhi Thursday leading a 150-member Malaysian Indian delegation to the ninth Bharatiya Pravasi Divas (PBD), the annual …. Source : Malaysian Indian leader to seek more business ties in India.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on January 3, 2011 are:

Amount (face value in ` crore)

Item

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

1 day Repo Auction
… Original source on Gaea Times at : Liquidity Adjustment Facility : Auction Results.

Rival betters ArcelorMittal’s offer for Toronto mining company

TORONTO – The fight between ArcelorMittal and Nunavut Iron Ore Acquisition Inc. for control of Baffinland Iron Mines Corp is heating up as the latter has now made a higher offer of $1.45 a share for the Toronto-based company.

ArcelorMittal had Friday raised its offer from $1.25 to $1.40 to beat rival Nunavat Iron Ore … Original source on Gaea Times at : Rival betters ArcelorMittal’s offer for Toronto mining company.

British MPs draw flak for defying austerity measures

LONDON – Senior MPs in Britain have come under fire for celebrating the New Year with lavish holidays or by sipping champagne at an exclusive Commons fireworks party.

The lawmakers, including Chancellor of the Exchequer George Osborne who defied austerity Britain by taking a luxury break at Prince Charles’s favourite ski resort in Switzerland, …. Source article on Gaea Times at : British MPs draw flak for defying austerity measures.

Syrians take a gamble with country’s first casino in decades

DAMASCUS – People in Syria can now roll the dice at the country’s only casino, which recently opened its doors in a gamble of its own – to test the limits in this largely conservative society.

Casino Damascus, which opened around 30 km outside the capital,near Damascus airport, is seen as a step in Syria’s …. Original source : Syrians take a gamble with country’s first casino in decades.

Sensex starts new year on positive note

MUMBAI – Kicking off the new trading year on a positive note, a benchmark index of Indian equities Monday rose in morning trade.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,621.61 points, was ruling at 20,652.91 points, up 143.82 points or 0.7 percent from its previous close at …. Source article on Gaea Times at : Sensex starts new year on positive note.

Chinese cars make inroads in Myanmar’s market

YANGON – Min Min yawned as he gazed at the compound of his second-hand cars dealership in Yangon.

“I come here every day as usual but go back home without a single kyat in sales,” Min Min, 45, said.
Myanmar’s market for second-hand cars shifted into low gear last year due to an influx of …. Read the original article : here.

Money Market Operations as on December 31, 2010

…. Source : Money Market Operations as on December 31, 2010.

Emirates launches second A-380 to Jeddah

Dubai, Jan 2 (IANS/WAM) Emirates Sunday launched its second Airbus A-380 daily service to Saudi Arabia for business and leisure travellers.

The A-380 can carry a maximum of 517 passengers in a three-class configuration.
“The A-380 has received an overwhelmingly positive response from the Saudi market since it was introduced on …. Original article on Gaea Times at : Emirates launches second A-380 to Jeddah.

Inflation rate a matter of concern: Pranab

KOLKATA – Finance Minister Pranab Mukherjee Sunday expressed concern over the current rate of inflation but said the figure was expected to come down to 6.5 percent by the end of the next financial year.

“The inflation is an issue of concern. We expect that the steps we have taken will bear results. It is …. Source article on Gaea Times at : Inflation rate a matter of concern: Pranab.

BJP attacks Congress, Mukherjee over remarks on PM’s PAC offer

NEW DELHI – The Bharatiya Janata Party (BJP) Sunday said the Congress was “not serious” about fighting corruption, after Finance Minister Pranab Mukherjee’s said that Prime Minister Manmohan Singh did not consult anyone before offering to appear before parliament’s Public Accounts Committee (PAC) over the 2G spectrum scandal.

“This shows the Congress is not at … Read this article on Gaea Times at : BJP attacks Congress, Mukherjee over remarks on PM’s PAC offer.

India plans power lines via Bangladesh

AGARTALA – India is exploring the possibility of building transmission lines via Bangladesh to supply power to that country and to transmit electricity between the northeast and the rest of India, union Power Minister Sushil Kumar Shinde said Sunday.

“We should be very cooperative to meet the growing needs of electricity both in India and … Read more : India plans power lines via Bangladesh.

RBI launches survey to gauge industry growth outlook

MUMBAI – The Reserve Bank of India (RBI) has launched a new round of survey to gauge the growth prospects of public and private sector companies during the January-March quarter.

The Industrial Outlook Survey is conducted on a quarterly basis since 1998. This will be the 53rd round of the survey and provides useful … Read more >>>.

US clears attack chopper, sophisticated radar, missiles for India

NEW DELHI – The US administration has cleared two more missiles and a highly sophiscitcated combat radar for the Indian Air Force (IAF), as also the anti-tank Hellfire air-to-surface missile and air-to-air Stinger anti-aircraft missile.

The missiles, and the Longbow Fire Control Radar (FCR) which operates them, are part of the weapons package on board …. Read the original article : US clears attack chopper, sophisticated radar, missiles for India.

Maruti Suzuki’s December sales rise 39.7 percent

NEW DELHI – Automobile major Maruti Suzuki sold 99,225 units in December 2010 against 71,000 units in the like period of 2009, registering a 39.7 percent increase in its sales, a company release said.

In December 2010, sales were up 23.5 percent in A2 and 19.4 percent in A3 segment. In C segment, the … Original source on Gaea Times at : Maruti Suzuki’s December sales rise 39.7 percent.

Sensex ruling dull in noon trade

MUMBAI – A benchmark index of Indian equities Tuesday was ruling dull around noon, having dropped from its early highs.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,617.38 points, was ruling at 20,490.69 points, down 70.36 points or 0.34 percent from its previous close at 20,561.05 points.
At …. Source : Sensex ruling dull in noon trade.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 44.84 and the Reference Rate for Euro is ` 59.79 on January 4, 2011. The corresponding rates for the previous day (January 3, 2011) were ` 44.67 and ` 59.37 respectively. Based on the Reference Rate for …. Original article : RBI Reference Rate for US $ and Euro.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on January 4, 2011 are:

Amount (face value in ` crore)

Item

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

1 day Repo Auction
…. Source : Gaea News Network.

Canadian CEO salaries skyrocket amid recession

TORONTO – Even as other G8 economies struggle to emerge from the meltdown, Canada’s best-paid 100 CEOs breezed through the worst of the recession with earnings 155 times higher than the average Canadian salary, a study released here Monday said.

Titled ‘Recession Proof,’ the study by the Ottawa-based Canadian Centre for Policy Alternatives (CCPA) said … Original article on : Canadian CEO salaries skyrocket amid recession.

India Art Summit 2011 to draw best of global art

NEW DELHI – The capital will become a giant canvas for the international art fraternity to paint its hues, views and transact business Jan 21-23 when the country plays host to the third edition of the India Art Summit 2011.

The summit will be a “sprawling affair with 18 events, nine specially commissioned live …. Source article on Gaea Times at : India Art Summit 2011 to draw best of global art.

Money Market Operations as on January 03, 2011

… Read : Money Market Operations as on January 03, 2011.

Japanese shares surge on US gains

TOKYO – Japanese stocks surged Tuesday morning, the first trading day of the new year, buoyed by an overnight rally on Wall Street.

The benchmark Nikkei 225 Stock Average gained 144.93 points, or 1.42 percent, to trade 10,373.85 while the broader Topix index was up 12.41 points, or 1.38 percent, at 911.21.
On …. Read the original article : Japanese shares surge on US gains.

US stocks gain to start new year

NEW YORK – US stocks posted broad gains Monday on the first trading day of the new year, with some manufacturing data boosting investor optimism for a more broad-based economic recovery in 2011.

A private gauge of manufacturing in the US climbed at its fastest rate in seven months in December, while a similar measure … Read this article on Gaea Times at : US stocks gain to start new year.

Facebook valued at $50 bn after new investment

SAN FRANCISCO – Facebook has nabbed $450 million in funding from investment bank Goldman Sachs that values the social networking company at $50 billion, the New York Times reported Monday.

The company also took a $50-million investment from Russian firm Digital Sky Technologies, which has already invested some $500 million in Facebook.
News of the … Read more : Facebook valued at $50 bn after new investment.

Avoid Connaught Place for the next 8 months: Traffic police

NEW DELHI – The Delhi Taffic Police (DTP) issued an advisory Monday asking Delhi residents to avoid Connaught Place in the heart of the city for the next eight months, as its renovation would be commencing Tuesday.

“The New Delhi Municipal Corporation is taking up the redevelopment work including construction of remaining work of subways … Read more >>>.

CSIR to seek proposals for developing regional transport aircraft

BANGALORE – India’s Council of Scientific and Industrial Research (CSIR) will soon invite expression of interest (EoI) from the aerospace industry to develop a 90-seater regional transport aircraft (RTA) for feeder service under public-private partnership, a senior official said Monday.

“An EoI will be floated soon for private participation in the design and development of …. Original article : CSIR to seek proposals for developing regional transport aircraft.

Delhi’s homeless will be protected from cold: Walia

NEW DELHI – As north India continues to battle cold winds, the Delhi government Monday said it was making all necessary arrangements to shield the homeless in the various night shelters of the capital.

Urban Development Minister A.K. Walia visited several night shelters in the old quarters of the city and took stock of …. Source article on Gaea Times at : Delhi’s homeless will be protected from cold: Walia.

DDA gets new vice chairman

NEW DELHI – R.C. Mishra Monday took charge as the new vice-chairman of the Delhi Development Authority (DDA), an official statement said.

Mishra, a 1978 batch Indian Administrative Service officer, is presently the additional secretary in the urban development ministry, and has been given the additional charge of the post of DDA vice-chairman.
…. Source article : DDA gets new vice chairman.

RBI makes Public the Engagement Schedule of its Top Executives

From January 3, 2011, the Reserve Bank of India will place on its website, the public engagement schedule (public_engagement.aspx) of the Governor and the Deputy Governors. The engagement schedule will include public speeches and outreach activities undertaken by the executives.

The initiative is one more step towards demystifying the central …. Source : Gaea News Network.

Government of India announce the sale of three dated securities for ` 11,000 crore on January 7, 2011

The Government of India have announced the sale (re-issue) of (i) “7.49 percent Government Stock 2017” for a notified amount of `4,000 crore (nominal), (ii) “7.80 percent Government Stock 2020” for a notified amount of `.4,000 crore (nominal), and (iii) “8.26 percent Government Stock 2027” for a notified amount of …. Source : Government of India announce the sale of three dated securities for ` 11,000 crore on January 7, 2011.

RBI Announces OMO Purchase of Government Securities for `12,000 crore on January 5, 2011

Further to RBI Press Release dated December 16, 2010, wherein it was stated that the Reserve Bank of India would conduct OMO purchase auctions of ` 12,000 crore every week for four weeks starting with the week ending December 24, 2010, Reserve Bank has decided to purchase the following government securities … Read the original article on Gaea Times at : RBI Announces OMO Purchase of Government Securities for `12,000 crore on January 5, 2011.

Sensex pares intra-day gians, closes 52 points higher (Roundup)

MUMBAI – A benchmark index of the Indian equities market Monday gave up some of its intra-day gains on late selling pressure to close 52 points up. Broader markets, however, managed to do better.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,621.61 points, closed at 20,561.05 points, up …. Read the original article : Sensex pares intra-day gians, closes 52 points higher (Roundup).

Onion prices to crash by mid-January

NEW DELHI – Onion prices will see a sharp fall by Jan 20, an association of Delhi’s wholesale traders said Monday.

This will be because of the arrival of fresh crops, said Rajan Sharma, general secretary of the Chamber of Azadpur Fruit and Vegetable Traders, told IANS.
“With the crops being harvested in Rajasthan, Gujarat, … Read more »».

After new norms, microfinance firm Ujjivan raises funds

MUMBAI – Bangalore-based Ujjivan Financial Services Wednesday said it is now among the first microfinance institutions to raise money from the international markets after the clampdown on such companies by the Andhra Pradesh government last October.

The institution, which claims to serve 970,000 urban and semi-urban poor customers in 20 states, has raised nearly $1 … Original source on Gaea Times at : After new norms, microfinance firm Ujjivan raises funds.

World Bank issues first yaun bonds

HONG KONG – The World Bank has issued its first bonds in the yuan as China promotes the international use of its currency, also known as renminbi.

The World Bank said in a statement Monday that it is raising 500 million yuan ($76 million) by issuing the two-year bonds, which pay out 0.95 percent in … Read : World Bank issues first yaun bonds.

Indian stock markets may gain 15-18 percent in 2011

NEW DELHI – Indian stock markets are likely to gain 15-18 percent in 2011 on the back of an estimated 8-9 percent economic growth with robust performances by telecom, auto, banking and financial stocks, says France-based $1.2 billion consultancy Mazars.

“Economic growth is expected to remain robust with 8-9 percent. The market should grow double … Original article on : Indian stock markets may gain 15-18 percent in 2011.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.20 and the Reference Rate for Euro is ` 59.99 on January 5, 2011. The corresponding rates for the previous day (January 4, 2011) were ` 44.84 and ` 59.79 respectively. Based on the Reference Rate for … Read this article on Gaea Times at : RBI Reference Rate for US $ and Euro.

Punjab, Haryana fogged out

CHANDIGARH – A thick blanket of fog enveloped most parts of Punjab, Haryana and their joint capital Chandigarh Wednesday morning, disrupting rail, road and air traffic.

Road traffic was reduced to a snail’s pace in most parts of the region. Most trains from Chandigarh were running behind schedule.
Overcast conditions and foggy weather …. Source : Punjab, Haryana fogged out.

China plans wider monetary policy reform

BEIJING – China’s central bank plans to begin this year a monthly review of banks’ required reserves as part of wider monetary policy reform, it was revealed here Wednesday.

Banks will be subject to different required reserve ratios depending on their role in the economy, China Daily reported citing the official China Securities Journal.
…. Source : Gaea News Network.

Sensex down 115 points in noon trade

MUMBAI – A benchmark index of Indian equities Wednesday was ruling 115 points lower around noon, with even broader markets subdued.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,509.95 points, was ruling at 20,386.62 points, down 115.45 points or 0.56 percent from its previous close at 20,498.72 points.
… Original source on Gaea Times at : Sensex down 115 points in noon trade.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on January 5, 2011 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.

Underwriting Auctions for Government Securities

The Government of India have announced the sale of “7.49 per cent Government Stock 2017” for a notified amount of ` 4,000 crore (nominal), sale (reissue) of ”7.80 per cent Government Stock 2020” for a notified amount of ` 4,000 crore (nominal) and “8.26 per cent Government Stock 2027” for …. Original article on Gaea Times at : Underwriting Auctions for Government Securities.

British magazine names Jaguar XJ as best luxury car

LONDON – The British motoring magazine Top Gear has named the Jaguar XJ as the best luxury car for 2010 ahead of its main rivals BMW and Audi.

Writing in the most recent Awards Issue of Top Gear Magazine, Editor at Large Jason Barlow described the XJ as a “blast from the future”, adding “rarely … Read the original article on Gaea Times at : British magazine names Jaguar XJ as best luxury car.

Saudi Arabia to build world’s largest gold factory

RIYADH – Saudi Arabia, one of the top global oil exporters, is planning to build the world’s largest gold factory by the end of 2011.

The 22,000-square metre factory, located in the kingdom’s Red Sea port city of Jeddah, will bring in between 500 to 800 jobs.
“The factory will become a reality by the … Read more : Saudi Arabia to build world’s largest gold factory.

President urged to stop liquor sales on government premises

PANAJI – A woman’s rights group has urged President Pratibha Patil to stop the sale of wine and liquor at government premises in Goa.

In a petition, Bailancho Saad, a woman’s organisation, sought Patil’s intervention to stop a government-promoted wine festival to be held at a multiplex in the capital later this month.
… Read more >>>.

ArcelorMittal again gets nod from Canadian company for takeover

TORONTO – Backing ArcelorMittal once again, Toronto-based Baffinland Iron Mines Corporation has asked its shareholders to reject the higher offer by rival Nunavat Iron Ore Acquisition Inc and opt for the world’s biggest steel company.

Nunavat made its offer of $1.45 a share at the weakend against ArcelorMittal’s $1.40 a share for the Toronto company.
… Read more : ArcelorMittal again gets nod from Canadian company for takeover.

Audi planning biggest investment in company history

INGOLSTADT – Audi is planning the biggest investment programme in the company’s history, investing some 11.6 billion euros (about $15 billion) between 2011 and 2015 in new products and hiring around 1,200 experts to bolster electro-mobility and lightweight construction, the carmaker has announced.

Some two thirds of the investment – more than 9.5 billion euros …. Source : Audi planning biggest investment in company history.

Chinese media to get funds to expand overseas

BEIJING – In a move aimed at presenting “true picture” of the country to the world, China will give more funds to media outlets, particularly those targeting overseas readers, in the next 10 years.

China will invest more in mainstream media organisations to better present a true picture of the country to the world, …. Original article on Gaea Times at : Chinese media to get funds to expand overseas.

Volkswagen given top marks by US highway safety institute

ARLINGTON – Volkswagen has been given top marks by the American Insurance Institute for Highway Safety (IIHS) which rated a total of six Volkswagen models as the “Top Safety Pick 2011″.

In the compact class, the Jetta Sedan, the Jetta Sport Wagen, the Golf, the Golf GTI and the Tiguan (mid-class SUV) stood out among …. Read the original article : here.

New Mercedes C-Class to launch early in 2011

STUTTGART – The new Mercedes C-Class, to be launched early in the new year, has undergone several modifications including a new front and rear and energy efficient engines that reduce consumption by up to 31 percent compared to the predecessor model, according to the carmaker.

Efficiency-enhancing measures include improved 7G-Tronic Plus automatic transmission and the … Original article on : New Mercedes C-Class to launch early in 2011.

Money Market Operations as on January 04, 2011

…. Original article : Money Market Operations as on January 04, 2011.

Over 200 Brazil firms found treating workers as slaves

Brasilia, Jan 5 (IANS/EFE) The Brazilian government has said 220 firms in the country have been found to be exploiting their workers and treating them as slaves.

The labour ministry included 88 new firms on the list published earlier this week.
Since authorities began keeping figures in 2003, the list is updated every six months.
… Original article on : Over 200 Brazil firms found treating workers as slaves.

US stocks mixed, rally slightly on Fed minutes

NEW YORK – US stocks posted mixed results Tuesday, rallying later in the trading session after fresh signs that the Federal Reserve is still backing monetary stimulus.

Minutes of the central bank’s Dec 14 meeting showed that members believed the US economy had not picked up enough to halt a 600-billion-dollar purchase of Treasury securities … Read this article on Gaea Times at : US stocks mixed, rally slightly on Fed minutes.

Starbucks New Logo Makes Headlines

SEATTLE (GaeaTimes.com)- Starbucks known as the worlds’ biggest coffee shop chain has altered its well known logo, a nymph surrounded by its name in an attempt which suggests expansion of products. The wordless new logo is a sign that the company will make foray into hitherto untapped segments to enter new markets and strengthen … Read the original article on Gaea Times at : Starbucks New Logo Makes Headlines.

Congress puts off decision on Chhattisgarh coal mines

RAIPUR – South Eastern Coalfields Limited (SECL), India’s largest coal-producing company, was relieved Thursday as the opposition Congress put off its decision to forcibly shut down production at its major mines in Chhattisgarh’s Korba district.

The shutdown decision was deferred after SECL agreed to implement the key demands related to works to be done under …. Source : Gaea News Network.

Air, rail, road traffic hit in Punjab, Haryana

CHANDIGARH – Thick fog hit hard air, train and road traffic across Punjab, Haryana and Chandigarh Thursday, with the Chandigarh airport shut due to poor visibility and trains running behind schedule.

The fog also caused traffic jams, particularly on highways, disrupting inter-state road traffic.
Officials said visibility at the airport was less than 1,000 meters, …. Source article on Gaea Times at : Air, rail, road traffic hit in Punjab, Haryana.

Lao travel operators wary of rail link to China

VIENTIANE – Lao bus and airline operators have expressed concerns about competition from a planned Laos-China high-speed rail link, state media reports said Thursday.

The $7-billion joint venture agreed by the two governments last year is to connect the capital Vientiane to Luang Namtha on the border with China, running 421 km through several provinces. [..] Read the original article: here.

Sensex subdued in afternoon trade

MUMBAI – A benchmark index of the Indian equities market Thursday was ruling 94 points down in afternoon trade amid mixed cues from Asian markets.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,395.5 points, was ruling at 20,207.51 points, down 93.59 points or 0.46 percent from its previous … Original article on : Sensex subdued in afternoon trade.

India seeks clean coal technologies from South Africa

JOHANNESBURG – Coal Minister Sriprakash Jaiswal has sought help from South Africa in the field of clean technologies like conversion of the mineral into oil, gasification and underground mining using modern techniques.

“South Africa being the owner of oldest and largest coal-to-Oil plant could assist India to transfer the technology in the other mining projects … Original article on : India seeks clean coal technologies from South Africa.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.31 and the Reference Rate for Euro is ` 59.56 on January 6, 2011. The corresponding rates for the previous day (January 5, 2011) were ` 45.20 and ` 59.99 respectively. Based on the Reference Rate for US …. Source article on Gaea Times at : RBI Reference Rate for US $ and Euro.

RBI releases Draft Guidelines on Advanced Measurement Approach (AMA) for Calculating Operational Risk Capital Charge

The Reserve Bank of India today released on its website, draft guidelines (www.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=2305) on advanced measurement approach (AMA) for calculating operational risk capital charge. Comments/feedback on the draft guidelines may please be emailed before February 7, 2011 email (mailto:cgmicdbodco@rbi.org, monicadsoni@rbi.org.in) to the Chief General Manager-in-Charge, Department of Banking … Read more : RBI releases Draft Guidelines on Advanced Measurement Approach (AMA) for Calculating Operational Risk Capital Charge.

Japanese shares rise on weaker yen, US employment data

TOKYO – Japanese stocks jumped in Thursday morning trading, surpassing the 10,500 level for the first time in eight months, with exporters bolstered by a weaker yen and better-than-expected US employment data boosting investor sentiment.

The benchmark Nikkei 225 Stock Average gained 121.29 points, or 1.17 percent, to trade 10,502.06 while the broader Topix …. Original article on Gaea Times at : Japanese shares rise on weaker yen, US employment data.

Onion prices may soar as Pakistan bans export via border

AMRITSAR – Onion woes are likely to continue in India with Pakistan deciding to stop sending the commodity through the Attari-Wagah border check-post and also cutting down on the quantity due to a shortage in that country, an official said.

According to a communication received from Pakistan’s commerce ministry, onions will not come through the …. Read the original article : Onion prices may soar as Pakistan bans export via border.

Top-level visits from Canada to India begin this month

TORONTO – After 2010, which saw almost a dozen Canadian ministers visit India, top-level visits in the new year begin with Clement Gignac, minister of economic development for French-speaking Quebec province, leading a big team to India later this month.

Gignac will head a 60-member business delegation to New Delhi and Mumbai from Jan 30.
…. Source article : Top-level visits from Canada to India begin this month.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on January 6, 2011 are:

Amount (face value in ` crore)

Item

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

1 day Repo Auction
… Original article on : Liquidity Adjustment Facility : Auction Results.

23 countries to participate in machine tool expo

BANGALORE – Exhibitors from 23 countries, including the US for the first time, will participate in the Jan 20-26 Indian metal-cutting machine tool exhibition (Imtex 2011) here, the largest trade fair in South Asia.

The fair will showcase the range of innovations and technological refinements in the product segment from the world over.
Organized by …. Source article : 23 countries to participate in machine tool expo.

Salary not important for New Zealand workers

AUCKLAND – Work environment, company culture and workplace morale are the most important factors for New Zealand officegoers, while salary is one of the least significant of all, a study has found.

A survey of 4,000 people by jobs website seek.co.nz found that among workers who consider themselves “happy” in their jobs, work environment topped … Read : Salary not important for New Zealand workers.

Money Market Operations as on January 05, 2011

Wall Street gains on positive US data from services sector

NEW YORK – US stocks gained ground Wednesday amid some better-than-expected reports on unemployment and the services industry in the US that gave hopes to investors of a more robust recovery in the new year.

Private group ADP Employer Services said the economy added 297,000 jobs in December, an upbeat prediction ahead of the Labour … Read : Wall Street gains on positive US data from services sector.

Global electronics sales approach trillion-dollar mark

SAN FRANCISCO/LAS VEGAS – Global electronic retail sales will approach $1 trillion for the first time in 2011, the US trade group the Consumer Electronics Association said in a study released Wednesday.

The study forecast 2011 sales of $964 billion, up 10 percent from 2010’s level of $873 billion. That will mark the second year …. Original source : Global electronics sales approach trillion-dollar mark.

Sewage lines to be repaired in east Delhi

NEW DELHI – The Delhi Jal Board (DJB) has decided to repair all sewer lines in east Delhi after leaking sewers were found to be a key factor behind a building collapse in the area that killed 70 people in November last year.

A Delhi government statement said Wednesday that in view of similar problems …. Read the original article : Sewage lines to be repaired in east Delhi.

Dikshit for early completion of work in illegal colonies

NEW DELHI – Delhi Chief Minister Sheila Dikshit Wednesday reviewed the regularisation process in unauthorised colonies of the capital and stressed the need for early completion of developmental work, an official spokesperson said.

According to the spokesperson, Dikshit stated that her government was keen to complete the process of regularisation to enable the residents of … Original source on Gaea Times at : Dikshit for early completion of work in illegal colonies.

MCD joins Facebook

NEW DELHI – Following in the footsteps of Delhi Traffic Police, the Municipal Corporation of Delhi (MCD) Wednesday launched its official page on Facebook.

The online inauguration took place with Delhi Mayor Prithviraj Sawhney signing in as a member on the page.
The civic body promises to bring in more transparency, accountability and citizen-participation …. Original article : MCD joins Facebook.

Shivering in Delhi? Head to sunny Himachal hills

SHIMLA – If the chill in the north Indian plains is sending shivers down your spine, then head to the hills of Himachal Pradesh. Hill stations like Shimla, Kasauli and Manali are bright, sunny and perfect for a break from the dismal winter weather of the plains.

“Shimla is warmer and pleasant these days. … Original article on : Shivering in Delhi? Head to sunny Himachal hills.

BlackBerry partners Sprint as tablet market soars

TORONTO – With 2011 set to become the year of the tablet with 55 million units expected to be sold, BlackBerry maker Research In Motion (RIM) has joined hands with Sprint Nextel Corp. to make a mark with its PlayBook in the fast crowding tablet market.

RIM is launching the WiFi-only version of its PlayBook …. Original article on Gaea Times at : BlackBerry partners Sprint as tablet market soars.

Sun shines over Chandigarh, flights may resume

CHANDIGARH – After days of harsh cold, the sun finally shown on Chandigarh and its neighbouring towns Friday afternoon, bringing much respite to the people. The airport authorities hoped to start operations as no flights had operated since Wednesday due to fog.

We are hoping that weather would become clear in the next …. Original source : Sun shines over Chandigarh, flights may resume.

Nepali airline starts India flights

KATHMANDU – Nepal’s campaign to bring one million tourists this year receives a boost this week with a Nepali private airline beginning flights to India.

Domestic airline Buddha Air, which went international last year with flights to Bhutan, Friday launches its inaugural flight to Lucknow, the main city in Uttar Pradesh.
“We are starting with …. Source : Nepali airline starts India flights.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.37 and the Reference Rate for Euro is ` 58.93 on January 7, 2011. The corresponding rates for the previous day (January 6, 2011) were ` 45.31 and ` 59.56 respectively. Based on the Reference Rate for …. Source : Gaea News Network.

Sensex down 173 points in noon trade

MUMBAI – A benchmark index of Indian equities Friday continued to be in consolidation mode, ruling 173 points lower around noon amid subdued cues from Asian bourses.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,163.85 points, was ruling at 20,011.69 points, down 173.05 points or 0.86 percent from … Read the original article on Gaea Times at : Sensex down 173 points in noon trade.

PM unveils new Power Reactor Reprocessing Plant

THANE – Prime Minister Manmohan Singh Friday dedicated the second Power Reactor Reprocessing Plant at Tarapur here, calling it a significant milestone in India’s three-stage indigenous nuclear programme.

I am delighted to be present at the historic occasion of the commissioning, Manmohan Singh said at a function in Tarapur, around 100 km north of Mumbai.
…. Source article on Gaea Times at : PM unveils new Power Reactor Reprocessing Plant.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on January 7, 2011 are:

Amount (face value in ` crore)

Item

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

3 days Repo Auction
[..] Read the original article: here.

Bhutan to sign deal to access Bangladesh’s Mongla port

DHAKA – Bangladesh and Bhutan will sign a fresh agreement that allows South Asia’s Himalayan landlocked neighbour to use this country’s Mongla port.

A commerce ministry official said the deal may be inked during the visit of Bhutanese Prime Minister Lyonchen Jigmi Yoser Thinley next Monday, or anytime this year.
Bangladesh is now finalising the …. Original source : Bhutan to sign deal to access Bangladesh’s Mongla port.

L&T gets hydropower project in Himachal

SHIMLA – Corporate giant Larsen and Toubro (L&T) has been allotted a hydropower project that was earlier granted to Moserbaer Projects Ltd in Lahaul and Spiti district of Himachal Pradesh, an official said here Friday.

“The cabinet yesterday (Thursday) decided to re-allot the 420 MW Reoli Dugli hydropower project to L&T as Moserbaer had failed … Read the original article on Gaea Times at : L&T gets hydropower project in Himachal.

‘Dhaka getting closer to Delhi, Beijing’

DHAKA – The first two years of Prime Minister Sheikh Hasina’s government have seen Bangladesh focusing its foreign policy on regional connectivity and boosting ties, especially with the two Asian giants India and China, a daily said Friday.

Hasina’s official visit to India in January last year “helped clear the clouds that overshadowed the relations” [..] Read the original article: here.

Money Market Operations as on January 06, 2011

…. Source article on Gaea Times at : Money Market Operations as on January 06, 2011.

Japanese shares inch lower on profit-taking

TOKYO – Japanese stocks edged down in Friday morning trading as investors sold shares to lock in quick profits after the previous day’s surge.

The benchmark Nikkei 225 Stock Average lost 15.39 points, or 0.15 percent, to trade at 10,514.37 while the broader Topix index was down 0.15 points, or 0.02 percent, at 924.36. … Read more »».

Skoda Auto reports record sales in 2010

PRAGUE – Skoda Auto, the Volkswagen-owned Czech carmaker, said Thursday that its sales rose 11.5 percent in 2010 year-on-year, in what amounted to the firm’s new record.

The firm said in a statement that it sold 762,600 cars last year compared to 684,200 cars in 2009.
“In almost all markets, we have had significant growth …. Source : Gaea News Network.

Energy Awareness Yatra, East starts Jan 12

KOLKATA – In a bid to raise awareness for an orange revolution, Vivekananda Vijnana Mission and West Bengal Green Energy Development Corporation Limited (WBGEDCL) will organise the 15-day Energy Awareness Yatra (East) this month from here to Nagpur.

“It will be one of the four rallies originating from four different parts of the country following … Original article on : Energy Awareness Yatra, East starts Jan 12.

LinkedIn eyes public stock offering in first quarter

NEW YORK – LinkedIn Corp, said to be the largest networking site for professionals who work online, is considering going public with a stock offering, media reports said Thursday.

Morgan Stanley, JPMorgan Chase & Co and Bank of America Corp have been engaged by LinkedIn to prepare an initial public offering (IPO) prospectus by the … Read the original article on Gaea Times at : LinkedIn eyes public stock offering in first quarter.

India to design advanced ultra super critical boilers

CHENNAI – In order to secure energy security through efficient firing of coal, three Indian giants have joined hands to design, develop and build advanced super ultra critical boilers.

Speaking at the 98th Indian Science Congress held at SRM University in Kattankulathur near hear, O.P. Bhutani, director (Engineering and Research and Development), Bharat Heavy Electricals …. Original source : India to design advanced ultra super critical boilers.

Employment guarantee scheme wage hiked

NEW DELHI – Wages under Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) have been linked to the Consumer Price Index for Agricultural Labourers (CPI-AL) which will lead to enhancement of wages of beneficiaries by between 17 to 30 percent, Rural Development Minister C.P. Joshi announced Thursday.

The indexing to CPI-AL will be applicable … Read : Employment guarantee scheme wage hiked.

Flydubai announces new service to Bangladesh

Dubai, Jan 6 (IANS/WAM) Flydubai, one of the United Arab Emirates’ low-cost airlines, has announced the start of flights to Bangladesh from this month.

The announcement means passengers will be able to select direct low-cost flights from Dubai to two of Bangladesh’s most important cities – Dhaka and Chittagong.
Ghaith Al Ghaith, Flydubai’s chief …. Original article on Gaea Times at : Flydubai announces new service to Bangladesh.

Onion prices may soar as Pakistan bans export via road, rail

AMRITSAR – Onion woes are likely to continue in India with Pakistan deciding to stop sending the commodity through both land and rail routes due to a shortage in that country, an official said. The sea route is open, but it will not make up for the shortfall, he added.

India has received around 50 … Original article on : Onion prices may soar as Pakistan bans export via road, rail.

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.

Not reaching out to NRIs for money: Ahluwalia

NEW DELHI – The Indian government is not reaching out to NRIs for their money but wants them to take more interest in this country, Planning Commission Deputy Chairman Montek Singh Ahluwalia said here Sunday, adding that overseas Indians should send their children on holidays to discover the land of their origin.

The government is …. Source : Not reaching out to NRIs for money: Ahluwalia.

Gujarat has 11 percent GDP growth rate: Modi

NEW DELHI – Gujarat Chief Minister Narendra Modi said Sunday his state’s gross domestic product (GDP) growth rate was 11 percent, which was more than of China, while the agriculture growth rate stood at a high 9.6 percent.

Addressing an interactive session on the concluding day of the three-day Pravasi Bharatiya Divas, Modi said while …. Source : Gaea News Network.

India’s growth helping global economy: World Bank chief

NEW DELHI – India’s fast-paced growth is helping the global economy come out of the crisis and its status as a rising financial power is closely connected with its own internal dynamics, World Bank President Robert B. Zoellick has said.

“Indias return to high levels of growth is helping the global economy recover from the … Read this article on Gaea Times at : India’s growth helping global economy: World Bank chief.

Late Indian-origin godman to boost Nepal’s tourism

KATHMANDU – Four years after he died, controversial Indian-origin godman Chinmoy Kumar Ghose – called Sri Chinmoy by disciples – will have his memory resurrected with followers unveiling his statue at a prime holiday destination in Nepal, a move that coincides with the celebration of Tourism Year 2011 in the Himalayan republic.

After Norway, Indonesia, … Read : Late Indian-origin godman to boost Nepal’s tourism.

Rising food prices a matter of deep concern: Pranab

BHUBANESWAR – The rising food prices are a matter of deep concern and the central government has taken measures to improve the situation, Finance Minister Pranab Mukherjee said here Sunday.

It is a matter of deep concern, he said after delivering a lecture at the foundation day function of state-owned National Aluminium Company (Nalco).
I …. Source : Rising food prices a matter of deep concern: Pranab.

Hyundai Equus Races Ahead Of Rivals

SAN FRANCISCO (GaeaTimes.com)- South Korea based Hyundai motors which was known as a maker of affordable compact cars in Europe and U.S. car market, is desperate to re-brand itself as a company that also makes luxury sedans. The company is now rolling out high end models in the U.S. market which are meant for … Read the original article on Gaea Times at : Hyundai Equus Races Ahead Of Rivals.

Icy winds in Delhi, fog delays flights

NEW DELHI – Chilly winds added to Delhi’s bitter cold Sunday with the maximum temperature not likely to exceed 12 degrees Celsius. At least a dozen flights were delayed at the airport here due to light fog.

“The minimum temperature was two notches below the average at 5 degrees Celsius. A chilly wind blowing over … Read more : Icy winds in Delhi, fog delays flights.

Sue Patkar for Lavasa work stoppage: NCCL chief

GANDHINAGAR – The Lavasa Corporation should file a criminal case against Medha Patkar and others for bringing disrepute and financial losses to their project, a leading civil liberties activist said Saturday.

The loss incurred to the project because of the stoppage of work must also be recovered from Patkar and her allies, National Council for …. Read the original article : Sue Patkar for Lavasa work stoppage: NCCL chief.

Export grows 36.4 per cent in December 2010: Commerce Secretary

NEW DELHI – India’s exports have registered a growth of 36.4 per cent during December 2010, at 22.5 billion dollars.

Stating this at a press interaction here on Saturday, Commerce Secretary Rahul Khullar said that during the period April-December 2010, exports reached a … Original article on : Export grows 36.4 per cent in December 2010: Commerce Secretary.

Yechury faults Sibal’s zero loss claim in 2G spectrum row

BANGALORE – Communist Party of India-Marxist (CPI-M) leader Sitaram Yechury Saturday said Communications Minister Kapil Sibal appeared to be in a “cover-up” exercise over the 2G spectrum scandal.

Yechury termed as “bizzare” Sibal’s argument that there was zero-loss in 2G spectrum allocation, the row over which resulted in the resignation of A. Raja as communications … Read : Yechury faults Sibal’s zero loss claim in 2G spectrum row.

Dubai to host six international expos in January

Dubai, Jan 8 (IANS/WAM) Dubai will host six major international expos in the sectors ranging from Petrochemicals to healthcare in January.

The expos represent the petrochemicals, security, education, human resources, production services and healthcare and biotechnology sectors. The events will be organised at the Dubai World Trade Centre (DWTC).
January’s programme will set the …. Source article on Gaea Times at : Dubai to host six international expos in January.

Indian economy remains attractive place for investments: Pranab Mukherjee

NEW DELHI – Union Finance Minister Pranab Mukherjee on Saturday noted that India still remained a favoured destination for international players to invest.

Mukherjee said this while addressing delegates of the Global Advisory Council of People of …. Source article on Gaea Times at : Indian economy remains attractive place for investments: Pranab Mukherjee.

Delhi underground metro will be bigger than London’s by 2017

NEW DELHI – The length of the underground metro in Delhi will be increased to 416 km by 2017, making it the largest in the world, Road Transport Minister Kamal Nath said Saturday.

“By 2017 Delhi underground metro will be larger than London’s metro. We will have 416 km underground metro by the end of … Original article on : Delhi underground metro will be bigger than London’s by 2017.

Snow closes British airport

LONDON – The Edinburgh airport in Britain was Saturday forced to close due to heavy snow, affecting thousands of passengers, a media report said.

The airport, one of the busiest in Scotland, was closed for hours after nearly three inches of snow settled overnight, the Daily Telegraph reported.
More heavy snow is expected …. Read the original article : Snow closes British airport.

Ex-judge, bureaucrat to probe Adarsh scam

MUMBAI – The Maharashtra government Saturday appointed a two-member committee, comprising a retired high court judge and a retired chief secretary, to probe into various aspects of the controversial Adarsh Co-Operative Housing Society in south Mumbai. The panel will submit its report within three months.

“The committee will be headed by former Bombay High Court …. Read the original article : Ex-judge, bureaucrat to probe Adarsh scam.

Target Logo Change Makes News

SAN FRANCISCO (GaeaTimes.com)- Target Corporation the US based retail giant is going for a change in its logo. The changing economy as well as volatile market could be the driving force behind the logo alteration. The move comes on the heels of the Starbucks logo change. A Target spokesperson named Barry Finkelstein said on …. Source : Target Logo Change Makes News.