Business News – Newsletter for January 27, 2011

Dominant CEOs can either build or destroy a company: Study

WASHINGTON – A new study has revealed that dominant CEOs, who are powerful figures in an organization as compared to other members of the top management team, can evoke extreme results for the company.

It found that the performance of a firm under a powerful CEO could either be much better than other companies or …. Original article on Gaea Times at  : Dominant CEOs can either build or destroy a company: Study.

Mayor of Canada\’s \’Indian city\’ leads business trip to India

TORONTO – Canada\’s \’Indian city\’ of Surrey is sending a big delegation to India next month in search of business and investment opportunities.

Mayor Dianne Watts will lead the delegation comprising about 40 business and political leaders on an 11-day trip to India from February 10.
Surrey on the suburbs of Vancouver is the fastest growing … Read more »».

CII-India Business Forum welcomes Obama’s job creation agenda

NEW DELHI – The CII-India Business Forum (CII-IBF), a grouping of leading Indian companies with operations in the US welcomes and supports US President Barack Obama’s State of the Union address and the specific job-creation objectives outlined therein. CII believes in the US’s …. Source  : Gaea News Network.

LG eyeing to clock 30 percent revenue growth in 2011

KOLKATA – Consumer electronics major LG Electronics is eyeing to clock an annual revenue growth of 30 percent in India this year over the last year, a top executive of the company said Thursday.

“The company has targeted to achieve a growth of 30 percent in its total revenue in the consumer electronics segment in … Original source on Gaea Times at : LG eyeing to clock 30 percent revenue growth in 2011.

Sensex slips in afternoon trade

MUMBAI – A benchmark index for Indian equities markets slipped Thursday afternoon with selling spreading across the market-breadth.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,086.69 points, was ruling at 18,816.57 points, down 152.88 points or 0.81 percent from its previous close at 18,969.45 points.
The 50-scrip S&P …. Source article  : Sensex slips in afternoon trade.

Food inflation continues to reign high

NEW DELHI – India’s annual food inflation inched up to 15.57 percent for the week ended Jan 15, because of a sharp rise in fuel prices and with vegetables and other essential food items continuing to cost dear, as per official data released Thursday.

Food inflation for the previous week was 15.52 percent. The data … Read more »».

ITC safeguards Nepal operations with new plant

KATHMANDU – As Nepal’s southern plains, where the factories of most major Indian joint ventures are located, continue to be racked by violence and strikes, Indian tobacco major ITC Ltd is seeking to safeguard the operations of its subsidiary by building a second manufacturing plant in the hilly west.

Surya Nepal Pvt Ltd — in …. Original article on Gaea Times at  : ITC safeguards Nepal operations with new plant.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.57 and the Reference Rate for Euro is ` 62.46 on January 27, 2011. The corresponding rates for the previous day (January 25, 2011) were ` 45.53 and ` 62.14 respectively. Based on the Reference Rate for …. Source article on Gaea Times at  : RBI Reference Rate for US $ and Euro.

Trinidad and Tobago hails India’s economic achievements

Port-of-SPAIN – Trinidad and Tobago’s Minister for Foreign Affairs Surujattan Rambachan admired “India’s fine democratic traditions and economic achievements” during India’s 62nd Republic Day celebration held here.

Rambachan hailed India’s human rights record and said during the celebrations at the high commissioner’s residence Wednesday that Trinidad and Tobago and India’s have shared commitment to human … Read : Trinidad and Tobago hails India’s economic achievements.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on January 27, 2011 are:

Amount  (face value in ` crore)                

Item

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

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

Venezuela’s Chavez threatens to seize bank

Caracas, Jan 27 (IANS/EFE) President Hugo Chavez threatened to expropriate the Venezuelan subsidiary of Spanish banking giant BBVA in a tense telephone conversation Wednesday with the bank’s CEO that was broadcast live on radio and television.

“This is very serious. Either you obey the law or hand the bank over to me. Tell me how … Read more : Venezuela’s Chavez threatens to seize bank.

Brazil’s Petrobras announces deep-water oil find

Sao Paulo, Jan 27 (IANS/EFE) Brazilian state-controlled energy company Petrobras said it struck oil at a pre-salt block located in “ultra-deep” waters of the Santos Basin, located off the country’s southeastern coast.

The find was made after drilling the Carioca Nordeste well, which has a water depth of 2,151 meters and is located 275 km …. Source article  : Brazil’s Petrobras announces deep-water oil find.

Sensex dull in early trade

MUMBAI – A benchmark index for Indian equities markets Thursday was ruling quiet in early trade.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,086.69 points, was ruling at 18,998.56 points, up 29.11 points or 0.14 percent from its previous close at 18,969.45 points.
The 50-scrip S&P CNX Nifty … Read more »»».

Money Market Operations as on January 25, 2011

… Read : Money Market Operations as on January 25, 2011.

Japanese shares climb on US, European gains

TOKYO – Japanese stocks rose in Thursday morning trading, supported by overnight gains on the US and European markets amid hopes for the global economic recovery.

The benchmark Nikkei 225 Stock Average gained 27.52 points, or 0.26 percent, to trade at 10,429.42 while the broader Topix index was up 1.45 points, or 0.16 percent, at …. Original article  : Japanese shares climb on US, European gains.

Dow flirts with 12,000-mark as US stocks edge up

NEW YORK – The Dow Jones Industrial Average rose above 12,000 points for the first time in more than two years Wednesday before falling back under the symbolic mark.

US stocks closed the day up only slightly after the Federal Reserve kept in place a monetary stimulus programme that involves buying up $600 billion in … Read more >>>.

Toyota announces global recall of nearly 1.7 million vehicles following fuel leakage problems

LONDON – Toyota has announced the recall of nearly 1.7 million vehicles from across the world following complaints of fuel leakage and other problems.

The Japanese company said it was recalling several models, including the IS and GS Lexus luxury models in North America and [..] Read the original article: here.

Munda focuses on governance, power on R-Day

RANCHI – Jharkhand Chief Minister Arjun Munda, in his Republic Day speech Wednesday, said his government’s top priority would be providing transparent governance in the state and electricity to all villages in the coming four years.

Our government is dedicated to provide transparent governance in the state. In a move to provide transparent governance, we …. Original article on Gaea Times at  : Munda focuses on governance, power on R-Day.

Pakistan allows import of used cars

ISLAMABAD – Pakistan’s federal cabinet Wednesday decided to allow import of used cars in a bid to clamp down on escalating prices by local vehicle manufacturers.

A cabinet meeting, held to approve the recommendations of the Economic Coordination Committee (ECC), was chaired by Prime Minister Yousuf Raza Gilani, Aaj TV reported.
The cabinet had Dec …. Original article on Gaea Times at  : Pakistan allows import of used cars.

Human chain to make Kozhikode plastic free

KOZHIKODE – More than three lakh people Wednesday came out on the streets to form a 82-km long human chain to make Kozhikode district free from avoidable plastic.

Leading from the front was district Collector P.B. Salim, who told IANS that the human chain touched every nook and corner of the district.
We are told …. Source article  : Human chain to make Kozhikode plastic free.