Business News – Newsletter for January 11, 2011
Tuesday, January 11, 2011
Insurance regulator to meet, brief life insurers on flaws
CHENNAI – The Indian insurance regulator is planning to start the new year with a path-breaking initiative of calling promoters of private life insurers and having a frank discussion with them on the issues facing their companies.
Speaking to IANS on the condition of anonymity, a senior Insurance Regulatory and Development Authority (IRDA) official said: … Read more : Insurance regulator to meet, brief life insurers on flaws.
Gujarat tourism achieving new milestones: Narendra Modi
AHMEDABAD – Gujarat is witnessing a rise in tourism thanks to its effective campaigns to promote the state’s culture and tradition, Chief Minister Narendra Modi said Tuesday.
“Gujarat is achieving new milestones in tourism. And considering the progress we have made so far, there is no looking back,” Modi said while inaugurating the 21st International …. Source : Gaea News Network.
PM-led meet on price rise ends inconclusively (Second Lead)
NEW DELHI – A meeting Prime Minister Manmohan Singh held with senior cabinet ministers and officials Tuesday, to discuss measures to check rising food prices, ended inconclusively.
According to a senior official, the high-level meeting will take place again Wednesday or Thursday.
The meeting began around 10.30 a.m. at the prime minister’s 7, Race Course … Read more »»».
RBI Reference Rate for US $ and Euro
The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.32 and the Reference Rate for Euro is ` 58.70 on January 11, 2011. The corresponding rates for the previous day (January 10, 2011) were ` 45.44 and ` 58.63 respectively. Based on the Reference Rate for US … Read this article on Gaea Times at : RBI Reference Rate for US $ and Euro.
Malaysia to sweeten sugarless drink prices
KUALA LUMPUR – The Malaysian government is considering to cut prices of sugarless beverages, as part of the campaign that it unleashed two years ago when sugar imports from India were hit.
“This will encourage consumers to order sugarless drinks. It will be good for their health and it will also be good for their … Read more >>.
Liquidity Adjustment Facility : Auction Results
The results of the RBI Repo/Reverse Repo auctions held on January 11, 2011 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 : Liquidity Adjustment Facility : Auction Results.
India to set energy efficiency targets for industries
NEW DELHI – India will for the first time release energy efficiency targets for eight industrial sectors in April in a move that is expected to save 10 million tonnes of energy by 2013-14.
The Bureau of Energy Efficiency (BEE) has prepared energy efficiency targets for 580 industrial units in the eight sectors – … Original source on Gaea Times at : India to set energy efficiency targets for industries.
ArcelorMittal again extends bid for Canadian ore company
TORONTO – Global steel giant ArcelorMittal and rival bidder Nunavat Iron Core extended their competing bid deadlines for Toronto-based Baffinland Iron Mines Tuesday.
While Nunavut extended its offer from Jan 10 to Jan 25, ArcelorMittal – whose deadline expired midnight of Monday – pushed it Jan 21.
The two companies have been involved in a …. Read the original article : ArcelorMittal again extends bid for Canadian ore company.
BlackBerry tablet will be a winner: Market analysts
TORONTO – With its monopoly in the business handset market under onslaught from Google’s Android devices and Apple’s iPhone, BlackBerry maker Research In Motion (RIM) is now shifted its focus entirely to its tablet Playbook.
In the projected 55-million tablet market this year with iPad in the clear lead, RIM is trying “everything right first …. Original article : BlackBerry tablet will be a winner: Market analysts.
China’s BYD Auto seeks 2012 US launch
DETROIT – Chinese carmaker BYD Auto has set a new target of selling hybrid and electric cars to the US public in early 2012, but stressed that it would not make the mistake of rushing to break into the world’s most competitive market.
BYD, a top battery manufacturer that shifted into producing hybrid-electric cars in [..] Read the original article: here.
PM begins meet over price rise
NEW DELHI – Prime Minister Manmohan Singh Tuesday met with senior cabinet colleagues and officials on steps taken to curb inflation and to discuss future measures to arrest the sudden spurt in the prices of essential items.
The meeting began at about 10.30 a.m. at the prime minister’s 7, Race Course Road residence. Finance … Read the original article on Gaea Times at : PM begins meet over price rise.
Sensex gives up opening gains
MUMBAI – A key Indian equities index started weak Tuesday, giving up its opening gains.
The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 19,279.77 points and was ruling at 19,262.13 points, up 38 points or 0.2 percent from its previous close at 19,224.12 points.
It had …. Read the original article : Sensex gives up opening gains.
PM to preside over meet on inflation
NEW DELHI – Prime Minister Manmohan Singh will Tuesday preside over a meeting with senior cabinet colleagues and officials on steps required to arrest the sudden spurt in inflation, especially due to the spike in prices of essential goods.
High prices of food items, especially onions, led to a sharp hike in India’s annual food …. Original article : PM to preside over meet on inflation.
Japanese stocks mixed on European debt woes
TOKYO – Japanese shares were mixed in Tuesday morning trading on concerns that the eurozone’s debt crisis might worsen while investors were still optimistic about a global economic recovery, traders said.
The benchmark Nikkei 225 Stock Average lost 24.07 points, or 0.23 percent, to trade at 10,526.97 while the broader Topix index was up 0.36 …. Original source : Japanese stocks mixed on European debt woes.
Money Market Operations as on January 10, 2011
…. Source article : Money Market Operations as on January 10, 2011.
Pakistan reaffirms ban on onion exports to India
ISLAMABAD – Citing shortages, Pakistan Monday reaffirmed a ban on the export of onions to India, officials said.
Pakistan had imposed the ban last week and reaffirmed this Monday after a meeting of the agriculture and commerce ministries, the official said.
“The decision will affect the agreements inked after January 5 this year. However, the …. Original article on Gaea Times at : Pakistan reaffirms ban on onion exports to India.
Britain, China sign deals on energy, cars
LONDON – Britain and China Monday signed trade deals worth an estimated 2.6 million pounds ($4 million), ranging from the supply of green technology to the delivery of luxury Jaguar Land Rover cars.
Among the trade deals is a commitment by Jaguar Land Rover, the luxury carmaker owned by India’s Tata Group, to sell 40,000 …. Source : Britain, China sign deals on energy, cars.
Delhi Metro’s airport line gets safety clearance, to begin soon
NEW DELHI – The Delhi Metro’s much-awaited Airport Express Line is likely to start soon after it got a safety clearance from the Commissioner of Metro Rail Safety, officials said Monday.
A Delhi Metro official told IANS that the 23-km link high-speed Airport Express Line got a safety clearance after undergoing a two-day safety check. …. Original article : Delhi Metro’s airport line gets safety clearance, to begin soon.
PM calls emergency meeting on inflation Tuesday
NEW DELHI – Prime Minister Manmohan Singh has called an emergency meeting Tuesday morning to review the spiralling inflation and the rise in prices of essential goods, an official in the Prime Minister’s Office (PMO) said Monday.
“The meeting will be held at 10.30 a.m. Tuesday,” the official told IANS.
Finance Minister Pranab Mukherjee, Agricultural …. Source : PM calls emergency meeting on inflation Tuesday.
Vibrant Gujarat now international platform for investments: Modi
GANDHINAGAR – The Global Investors summit in Gujarat has now metamorphosed into an international platform to facilitate investment alliances for participating countries, states and investors and has catapulted Gujarat into a global business hub, Chief Minister Narendra Modi said Monday.
Speaking at the inauguration of the mega exhibition put up as part of …. Read the original article : here.