Business News – Newsletter for January 18, 2011

Prestige Microchef: High Tech Cooking!

DELHI, INDIA (GaeaTimes.com)- TTK Prestige which is among India’s top kitchen appliance brands has unveiled a unique offering for health conscious buyers- the first ever microwave pressure cooker of India. Named Microchef the device is meant for those users who own Microwave ovens but do not use it for general cooking. S Ravichandran the …. Source  : Gaea News Network.

BJP protests petrol price hike in Delhi

NEW DELHI – About 500 Bharatiya Janata Party (BJP) workers Tuesday held a demonstration at Jantar Mantar in central Delhi to protest the recent hike in petrol prices. Police had to use water cannons to disperse the crowd.

“The protest began around 11 a.m. and is still on. Around 500 people have gathered at the … Read : BJP protests petrol price hike in Delhi.

Chhattisgarh farmers renew protest against power project

RAIPUR – About 150 farmers Tuesday renewed their protest in Chhattisgarh’s Janjgir-Champa district against land acquisition by a private company for an upcoming thermal power plant project, police said.

“Farmers have renewed their protest, accusing the company of forcibly trying to take over their lands. We have strengthened police deployment in the area as protesters … Read this article on Gaea Times at : Chhattisgarh farmers renew protest against power project.

Tata Car Nano Selling Well

DELHI, INDIA (GaeaTimes.com)- After months of not so inspiring sales figure, Tata Motors is witnessing rising demands for its small car Nano. The car which set a cut throat competition among top car makers for coming out with a low budget compact car after its arrival, was plagued with a number of problems … Original source on Gaea Times at : Tata Car Nano Selling Well.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.53 and the Reference Rate for Euro is ` 60.62 on January 18, 2011. The corresponding rates for the previous day (January 17, 2011) were ` 45.59 and ` 60.73 respectively. Based on the Reference Rate for US …. Read the original article  : RBI Reference Rate for US $ and Euro.

New water policy by 2011, will include climate change impact

NEW DELHI – Nine years after the last document, work is on to put in shape a new water policy that will by the end of the year not just lay down a framework for the allocation of water but also take into account the impact of climate change and the remedial steps that need … Original article on : New water policy by 2011, will include climate change impact.

Sensex rises in noon trade

MUMBAI – A benchmark index of Indian equities markets Tuesday rose in noon trade, helped by strong earnings reported by corporates. Gainers in front-line stocks were led by IT and telecom firms.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,983.2 points, was ruling at 19,008.28 points — … Read : Sensex rises in noon trade.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on January 18, 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.

Clegg outlines plan to allow shared parental leave

LONDON – Britain’s Deputy Prime Minister Nick Clegg has unveiled plans to allow parents to share parental leave between them, evoking angry reactions from some business leaders.

Fathers will be given up to ten months of paid paternity leave under plans outlined Monday by Clegg, the Daily Mail reported.
With backing from British Prime Minister … Read more : Clegg outlines plan to allow shared parental leave.

Common property resources crucial for livelihood of poor’

HYDERABAD – Protection of common property resources, or commons, is becoming critical not just because of the pressure of increasing population but also because of the higher level of consumption people want, according to Ruth S. Menizen-Dick, president, International Association for the Study of the Commons (IASC).

“The challenge before India and many other countries … Read the original article on Gaea Times at : Common property resources crucial for livelihood of poor’.

Japanese shares inch higher on bargain hunting

TOKYO – Japanese stocks edged up in Tuesday morning trading as investors picked up some blue chip issues at lower prices after a weak start.

The benchmark Nikkei 225 Stock Average gained 18.41 points, or 0.18 percent, to trade at 10,521.27 while the broader Topix index was up 3.85 points, or 0.41 percent, at 932.58.
…. Read the original article  : Japanese shares inch higher on bargain hunting.

Money Market Operations as on January 17, 2011

… Original article on : Money Market Operations as on January 17, 2011.

Airbus reports record deliveries in anniversary year 2010

TOULOUSE – European passenger plane company Airbus has reported that it delivered a record 510 new airplanes in 2010, the 40th anniversary year of the consortium.

The deliveries, surpassing the previous one-year delivery record of 498 planes, gave Airbus a 52 percent of the world market share last year, outpacing US arch-rival Boeing.
At the …. Read the original article  : Airbus reports record deliveries in anniversary year 2010.

Dollar’s dominance ‘product of the past’: Hu Jintao

WASHINGTON – The era of a world currency system dominated by the US dollar is a “product of the past”, Chinese President Hu Jintao said in interviews with US newspapers on the eve of a visit to Washington.

Hu is set to meet US President Barack Obama at the White House Wednesday.
In written responses …. Original source  : Dollar’s dominance ‘product of the past’: Hu Jintao.

World Future Energy Summit opens in Abu Dhabi

Abu Dhabi, Jan 17 (IANS/WAM) The fourth World Future Energy Summit (WFES) kicked off Monday here to discuss ways to promote the use of clean energy for sustainable growth.

Leaders and industry experts from around the world gathered in the capital of the United Arab Emirates for the annual summit, hosted by Abu Dhabi-based …. Source  : Gaea News Network.

International cargo airport coming up near Delhi

CHANDIGARH – An international cargo airport would be set up in Haryana territory falling in the national capital region (NCR) of New Delhi, Haryana Chief Minister Bhupinder Singh Hooda said Monday.

Hooda said 3,000 acres of land has been identified for the project at Bhaini Maharajpur and Bhaini Bhairon villages near Delhi.
Hooda said the …. Original article  : International cargo airport coming up near Delhi.

Karat slams government policies to curb inflation

DURGAPUR – Communist Party of India-Marxist (CPI-M) general secretary Prakash Karat Monday flayed the United Progressive Alliance (UPA) government’s proposed policy of allowing foreign investment in retail market in order to curb inflation.

“The government now wants to give permission to foreign investment in retail trade. Few days back a statement came out from the … Read this article on Gaea Times at : Karat slams government policies to curb inflation.

No alternative to petrol price hike: Deora

NEW DELHI – A day after petrol prices were hiked by about four percent, Petroleum Minister Murli Deora said Monday that there was no alternative but to do so as the state oil marketing companies were facing huge losses.

“The decision to hike petrol prices was taken by the oil companies. These companies are Navratnas …. Source article  : No alternative to petrol price hike: Deora.

Hike in jet fuel price to jack up air fares: Patel

NEW DELHI – Any increase in aviation turbine fuel (ATF) will have an impact on the cost of flying, Civil Aviation Minister Praful Patel said Monday, adding that the government would not allow exorbitant fares to be charged on any pretext.

“The fuel prices are directly linked to the fares, so it is but natural … Read this article on Gaea Times at : Hike in jet fuel price to jack up air fares: Patel.

Chinese banking giant ICBC expands in Europe

LUXEMBOURG – China’s banking giant, the Industrial & Commercial Bank of China (ICBC), launched Monday an expansion of its operations across Europe.

ICBC opened five new branches Monday in major European capitals – in Amsterdam, Brussels, Paris, Madrid and Milan.
The banking giant already has branches in Moscow, London, Frankfurt and Luxembourg.
Speaking at a … Read this article on Gaea Times at : Chinese banking giant ICBC expands in Europe.