Business News – Newsletter for January 17, 2011

Agra battles water crisis as Yamuna is highly polluted

AGRA – Agra has been battling a water crisis for over a month now as the sewer and industrial effluents have polluted the Yamuna river, causing an inadequate water supply to the residents.

There has been hardly any fresh inflow in the river as all it carries is the pollutants from Delhi and towns in … Read more >>.

Summer trials this year of upgraded indigenous battle tank

NEW DELHI – Within a year of the government approving a project for an upgraded indigenous main battle tank (MBT), India’s defence research agency has readied a Mark II version that will undergo summer and winter trials this year.

The defence ministry had last May given its nod to the Defence Research and Development …. Original article on Gaea Times at  : Summer trials this year of upgraded indigenous battle tank.

Money Market Operations as on January 15, 2011

… Read this article on Gaea Times at : Money Market Operations as on January 15, 2011.

India Art Summit spotlight on market, infrastructure

NEW DELHI – The market and infrastructure for art are expected to be highlighted at the India Art Summit 2011 beginning this week. The event promises a large variety that could make collectors out of visitors and experts are hoping it will help position Indian art globally.

The Jan 21-23 event will see seminars and …. Source article on Gaea Times at  : India Art Summit spotlight on market, infrastructure.

Huge source of oil, gas found in South China Sea

BEIJING – Chinese geologists have detected “super-thick” oil and gas-rich strata in the South China Sea and also identified 38 offshore oil and gas basins, a media report said Monday.

The outskirts of Songliao basin in northeast China, Yin’e basin in the north and Qiangtang basin on the Qinghai-Tibet Plateau have rich oil and gas … Read more »»».

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.59 and the Reference Rate for Euro is ` 60.73 on January 17, 2011. The corresponding rates for the previous day (January 14, 2011) were ` 45.30 and ` 60.40 respectively. Based on the Reference Rate for US …. Original source  : RBI Reference Rate for US $ and Euro.

Sensex lacklustre, Asian cues negative

MUMBAI – A benchmark index of Indian equities market Monday was ruling dull, amid sombre cues coming from other major Asian markets. Broader markets saw profit booking.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,911.43 points, was ruling at 18,874.17 points — up 13.73 points or 0.07 percent …. Original article  : Sensex lacklustre, Asian cues negative.

Bangladesh plans waterway transit for Bhutan

DHAKA – Bangladesh plans to have an exclusive Teesta river waterway transit for landlocked Bhutan, an official said.

A government committee is preparing the final documents to give transit facilities to neighbouring countries to enable them to reach Bangladesh’s Chittagong and Mongla ports, the Daily Star newspaper said Monday.
Teesta is one of the major …. Original article  : Bangladesh plans waterway transit for Bhutan.

Indian products and services show in Nigeria this month

LAGOS – With Indian outreach to Africa steadily growing, a major Indian products and services show is being mounted here later this month amid high hopes that trade between India and Nigeria will pick up this year after a lull in the past two years.

“As a result of global recession, trade dropped for …. Original article on Gaea Times at  : Indian products and services show in Nigeria this month.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on January 17, 2011 are:

Amount  (face value in ` crore)                          

Item

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

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

Money Market Operations as on January 14, 2011

… Read this article on Gaea Times at : Money Market Operations as on January 14, 2011.

Advani slams government on illegal wealth in foreign banks

MUMBAI – Senior Bharatiya Janata Party (BJP) leader L.K. Advani Sunday took on the Manmohan Singh-led central government over its inability to crack down on corruption, alleging it was doing little to bring back the ill-gotten money kept by Indians in foreign banks.

Addressing a ‘Bhrashtachar Virodhi Mahasangram’ (anti-corruption rally) organised here by the National …. Original article on Gaea Times at  : Advani slams government on illegal wealth in foreign banks.

On-line power bill payment starts in west Uttar Pradesh

GHAZIABAD – About 32 lakh consumers of the Uttar Pradesh Power Corporation Limited (UPPCL) in western Uttar Pradesh will now be able to pay their electricity bills on the internet, a statement said Sunday.

The on-line bill payment facility was introduced by UPPCL Paschimanchal Vidyut Vitran Nigam Limited (PVVNL) in districts such as Bagpat, Bijnor, … Read this article on Gaea Times at : On-line power bill payment starts in west Uttar Pradesh.

UAE to participate in 16 international trade fairs

Abu Dhabi, Jan 16 (IANS/WAM) As part of its efforts to attract more foreign investments, the United Arab Emirates will participate in 16 international trade fairs and exhibitions across the globe, including one in India, this year.

The Ministry of Foreign Trade (MFT) is also busy in arranging promotional tours to many countries this …. Read the original article  : UAE to participate in 16 international trade fairs.

Bangladesh signs LNG import deal with Qatar

DHAKA – Bangladesh Sunday signed a deal with Qatar to import four million tonnes of liquefied natural gas (LNG) per year to meet the growing demand for gas.

Mohammad Mejbahuddin, secretary to the energy and mineral resources division of Bangladesh, and Mohammed Saleh Al-Sada, state minister for energy and industrial affairs of Qatar, signed …. Read the original article  : here.

Ahmadinejad’s 33-year-old car gets $2 mn bid

TEHRAN – Iranian President Mahmoud Ahmadinejad’s 33-year-old car has received a $2 million bid after it was put on an online auction, a minister said Sunday.

“We have different suggestions from many countries and the last received bid was $2 million,” ISNA news agency quoted Minister of Welfare and Social Security Sadeq Mahsouli …. Source article on Gaea Times at  : Ahmadinejad’s 33-year-old car gets $2 mn bid.

Petrol price hike: Strike planned in Bengal Monday

KOLKATA – Protesting against the latest petrol price hike, Communist Party of India-Marxist’s labour arm Centre of Indian Trade Unions (CITU) has called a three-hour public transport strike in West Bengal Monday.

The strike will begin at noon, CITU state president Shyamal Chakraborty told mediapersons here Sunday.
He said private vehicles have been exempted from [..] Read the original article: here.

Not consulted on petrol hike, will hold protests: Trinamool

KOLKATA – Alleging that it was not consulted before the petrol price hike, United Progressive Alliance (UPA) partner Trinamool Congress Sunday announced protest rallies and meetings across West Bengal to demand a rollback and steps to control the escalating cost of essentials.

It also demanded that meetings of the UPA constituents be held every three … Read more : Not consulted on petrol hike, will hold protests: Trinamool.

Israel to host industry meet to woo Indian investments

BANGALORE – Israel will host the second high-tech industry association conference in Jerusalem May 29-June 3 to attract investments and partnerships from India in new technologies spanning IT, telecom, defence, aerospace, renewable energy and security.

Organised by the Israeli ministry of industry, trade and labour, the annual conference will provide a platform to investors, venture … Original source on Gaea Times at : Israel to host industry meet to woo Indian investments.

Maharashtra politicos cheer Adarsh demolition order

MUMBAI – Welcoming the environment ministry’s order to demolish the Adarsh housing society building within three months, politicians in Maharashtra said this was the only option for the scam-hit project.

Shiv Sena legislator Subhash Desai said: “We welcome the decision of MoEF (ministry of environment and forests) and Jairam Ramesh. But I am concerned if … Original article on : Maharashtra politicos cheer Adarsh demolition order.