Business News – Newsletter for January 30, 2011
Sunday, January 30, 2011
Joint action plan with states against inflation: Consumer Affairs Minister (Interview)
NEW DELHI – The central government will soon formulate an action plan with state governments on how to rein in the prices of essential items that have taken the annual food inflation to double-digits now, Minister of State for Consumer Affairs K.V. Thomas has said.
The minister also indicated that some ministries were studying the …. Source article : Joint action plan with states against inflation: Consumer Affairs Minister (Interview).
Dalda owner Bunge to double trade finance business in India
NEW DELHI – The US-based agro-business major Bunge, which bought the popular Dalda brand of vegetable oils in 2003, has targeted to double its trade finance business in India to $8 billion to capitalise on high lending rates and volatile food prices.
Trade finance helps fund cross-border imports and exports by providing credit against contracts. …. Source article : Dalda owner Bunge to double trade finance business in India.
Turkish firm investing over $100 mn on Mumbai, Delhi airports
ISTANBUL – With India’s air cargo and passenger traffic growing at a frantic pace and efficiency and security becoming a major concern, a Turkish firm is investing $100 million by 2015 in ground handling and equipment at Delhi and Mumbai airports.
Celebi Holdings has already spent $35 million on construction and $12 million towards purchase …. Read the original article : Turkish firm investing over $100 mn on Mumbai, Delhi airports.
Condom firm cashes on Prince William, Middleton’s charm
LONDON – A condom firm here is cashing on the popularity of the soon to be married couple, Prince William and Kate Middleton, by using their photo on its product pack.
The souvenir sheaths are being sold in royal purple packs of three with a picture of Prince William and his financee.
Blurb … Read more »»».
Maruti Suzuki Kizashi To Launch
MUMBAI, INDIA (GaeaTimes.com)- Maruti Suzuki is all set to launch yet another cool and luxurious sedan in the Indian Market, called Maruti Suzuki Kizashi. This car would be manufactured by the Japanese parent company itself. Although this car has a good command on the roads of the other countries, this is for the first … Original source on Gaea Times at : Maruti Suzuki Kizashi To Launch.
Vegetables parks to come up in several cities: Pawar
KANPUR – Vegetable parks will be set up in all Indian cities with a minimum population of one million to ensure availability of quality produce at reasonable rates, Agriculture Minister Sharad Pawar announced Saturday.
“We propose to shortly start the process of acquiring land for the purpose and would therefore urge all state governments to … Read more : Vegetables parks to come up in several cities: Pawar.
‘Remove infrastructure bottlenecks for travel industry’s growth’
NEW DELHI – Growth in India’s travel industry can be achieved only if the required infrastructure is developed, experts said Saturday at the 18th South Asia Travel and Tour Expo (SATTE) here.
“We need infrastructure to support the growth in all streams related to the travel industry especially the aviation segment. We need better airport, …. Source article on Gaea Times at : ‘Remove infrastructure bottlenecks for travel industry’s growth’.
Pirate ship sunk by navy, Coast Guard in Arabian Sea
NEW DELHI – In a major anti-piracy operation by the Indian Navy and Coast Guard in the Arabian Sea, a Somali pirate ship was sunk in a gun battle off Lakshadweep Islands and 15 brigands apprehended Friday, an official said.
The two maritime forces also rescued 20 Thai and Myanmarese fishermen, the original crew of …. Source : Gaea News Network.
Tube Investments posts higher turnover, profits
CHENNAI – Backed by all-round growth, Tube Investments of India Ltd closed the third quarter of the current fiscal with a turnover of Rs.749 crore and a net profit of Rs.51.89 crore as against Rs.583 crore and Rs.20.60 crore respectively in the same period last fiscal
Managing director L. Ramkumar said all the business segments …. Read the original article : Tube Investments posts higher turnover, profits.
Millions of travellers give a thumbs down to eight Indian hotels
New Delhi, Jan.29 (ANI-Business Wire India): Millions of travellers give a thumbs down to eight Indian hotels, and New Delhi’s Centaur Hotel located near the Indira Gandhi International Airport …. Source : Gaea News Network.
Food Security Bill is ready: K.V. Thomas
THIRUVANANTHAPURAM – Tipped as the flagship programme of the second United Progressive Alliance (UPA) government, the proposed Food Security Bill is ready, union minister K.V. Thomas said Saturday.
Thomas, who recently was given independent charge of the consumer affairs, food and public distribution ministry, told reporters here that his department was ready with the path-breaking …. Read the original article : here.
Professional course on competition policy launched
NEW DELHI – With the enactment of the Competition Act and the flurry of cases the regulator is handling, a Delhi-based research institution has launched two courses in the areas of competition policy and law.
The courses – a foundation level and an advanced diploma – will solve practical problems concerning the control of anti-competitive …. Original article : Professional course on competition policy launched.
Licensing norms tougher in India’s new telecom policy
NEW DELHI – India Saturday said its new telecom policy to be unveiled soon will tighten the norms for grant of licences and airwaves to service providers in a bid to induce transparency and provide a level-playing field to new and existing players.
Announcing this at a hurriedly convened press conference here, Communications Minister Kapil …. Read the original article : Licensing norms tougher in India’s new telecom policy.
Helicopter taxi service launched in Himachal
SHIMLA – Himachal Pradesh Chief Minister Prem Kumar Dhumal Saturday launched the helicopter taxi service in the state to attract high-end tourists, an official said.
The government has signed an agreement with three private operators – Sim Sam Airlines, Mesco Airlines and Shiva Airlines – and allowed them to operate heli-taxis on identified routes.
“Dhumal …. Original article : Helicopter taxi service launched in Himachal.
Maruti Suzuki quarterly net profit drops 17.7 percent
NEW DELHI – Rising cost of inputs and higher royalty paid to parent firm Suzuki hit the margins of India’s largest car maker Maruti Suzuki, which reported a 17.7 percent drop in net profit at Rs.565.2 crore for the quarter ended Dec 31.
The company had posted a net profit of Rs.687.5 crore in the …. Original article : Maruti Suzuki quarterly net profit drops 17.7 percent.
Six State Governments announce Auction of State Development Loans 2021 for `4000.000 on February 1, 2011
The following Six State Governments have announced the sale of their 10-year State Development Loans (SDLs) for an aggregate amount of `4000.000 crore through yield based auction using multiple price auction method.
Sr. No.
State
Notified Amount
… Read : Six State Governments announce Auction of State Development Loans 2021 for `4000.000 on February 1, 2011.
ONGC Q3 net profit doubles to Rs.7,083 crore
MUMBAI – State-owned Oil and Natural Gas Corporation (ONGC) Friday reported a 5.87 percent rise in net profit for the third quarter ended Dec 31 at Rs.7,083 crore as against Rs.3,054 crore earned during the same period of last fiscal.
The exponential rise in profit was due to higher crude oil prices in the … Read the original article on Gaea Times at : ONGC Q3 net profit doubles to Rs.7,083 crore.
Second Liquidity Adjustment Facility : Auction Results
The results of the RBI Repo/Reverse Repo auctions held on January 28, 2011 are :
Amount (face value in ` crore)
Item
3 days Reverse Repo Auction (Sale of securities by RBI)
3 days Repo Auction
… Read this article on Gaea Times at : Second Liquidity Adjustment Facility : Auction Results.
Reserve Bank of India ??? Bulletin Weekly Statistical Supplement ??? Extract
1. Reserve Bank of India – Liabilities and Assets
(` crore)
Item
2010
2011
Variation
Jan. 22
Jan. 14
Jan. 21#
Week
Year
1
2
3
4
5
6
Loans and advances
Central Government
—
—
—
—
—
State Governments
148
458
853
394
705
2. Foreign Exchange Reserves
Variation over
Item
As on Jan. 21, 2011
Week
End-March 2010
End-December 2010
Year
`
…. Original source : Reserve Bank of India ??? Bulletin Weekly Statistical Supplement ??? Extract.
182-day Treasury Bills auction: Rs.1,500 crore under regular auction
The Reserve Bank of India has announced the auction of 182-day Government of India Treasury Bills for notified amount of Rs.1,500 crore. The auction will be conducted on February 2, 2011 using "Multiple Price Auction" method. The allocation to the non-competitive bidders will be outside the notified amount at the … Read more >>>.