Business News – Weekly Newsletter for January 24-31, 2011
Monday, January 31, 2011
ICICI Bank’s net profit jumps 30.5 percent in third quarter
NEW DELHI – One of India’s largest private lenders ICICI Bank Monday reported an increase of 30.5 percent in its net profit for the quarter ended Dec 31, 2010, which stood at Rs.1,437 crore.
“Bank has posted a net profit of Rs.14,370.20 million for the quarter ended Dec 31, 2010 as compared to Rs.11,010.60 million …. Source article : ICICI Bank’s net profit jumps 30.5 percent in third quarter.
Bengal Peerless Project Started
KOLKATA, INDIA (GaeaTimes.com)- Bengal Peerless is all set to execute its much awaited housing-cum-commercial project at EM Bypass, worth Rs 400 crores. The authorities of this high profile project has declared that the candidates who are interested to book their properties can now start with the procedures.
The West Bengal government acquired these lands as this …. Source : Gaea News Network.
Sensex holds on to gains
MUMBAI – A benchmark index for an Indian equities market Monday held on to its gains, about an hour before the closing bell, as bank stocks rose as a result of robust earnings reported by private lender ICICI Bank and other public sector banks.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), …. Source : Gaea News Network.
Bharti Airtel launches 3G services in Karnataka
NEW DELHI – Telecom giant Bharti Airtel Monday launched its third generation (3G) services in Karnataka – its largest circle by revenue – and said that it will launch 3G services in its other circles by March this year.
3G enables customers to access high speed internet, watch videos and live TV, make video … Read more : Bharti Airtel launches 3G services in Karnataka.
Corrupt babus making life miserable for SMUs: Survey
NEW DELHI – Corruption is making live miserable for small and medium units that are often left to fight their own battles in getting clearances and conducting day-to-day operations, according to a survey.
“Almost all Small and medium enterprises have been victims to corrupt babus at least once,” revealed the survey conducted by tradeindia.com, a …. Original source : Corrupt babus making life miserable for SMUs: Survey.
Man strips in China after failing to get train ticket
SHANGHAI – A man took off his clothes and confronted a senior railway official in China’s Zhejiang province after he failed to buy a train ticket to go home even after standing in a queue for 14 hours.
A photograph circulated online showed Chen Weiwei, a migrant worker from Central China’s Henan province, clad only [..] Read the original article: here.
RBI Reference Rate for US $ and Euro
The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.58 and the Reference Rate for Euro is ` 62.01 on January 24, 2011. The corresponding rates for the previous day (January 21, 2011) were ` 45.70 and ` 61.65 respectively. Based on the Reference Rate for … Read this article on Gaea Times at : RBI Reference Rate for US $ and Euro.
Liquidity Adjustment Facility : Auction Results
The results of the RBI Repo/Reverse Repo auctions held on January 24, 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: here.
Sensex builds on early gains
MUMBAI – A benchmark index for an Indian equities market Monday moved further up from its opening levels trading flat in noon trade even as broader markets saw buying action.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,095.69 points, was ruling at 19,172.23 points – 164.70 points or … Read : Sensex builds on early gains.
Money Market Operations as on January 21, 2011
…. Original article : Money Market Operations as on January 21, 2011.
Japanese shares rise on US gains, bargain hunting
TOKYO – Japanese stocks climbed in Monday morning trading as investors snapped up blue-chip issues at lower prices after recent losses.
The benchmark Nikkei 225 Stock Average gained 38.64 points, or 0.38 percent, to trade at 10,313.16 while the broader Topix index was up 2.2 points, or 0.24 percent, at 913.05.
The Nikkei also … Read the original article on Gaea Times at : Japanese shares rise on US gains, bargain hunting.
Abu Dhabi seeks economic ties with Bangladesh, Portugal
Abu Dhabi, Jan 23 (IANS/WAM) The Abu Dhabi Chamber of Commerce and Industry (ADCCI) held separate talks with Bangladeshi Prime Minister Sheikh Hasina and Portugal premier Jose Socrates to explore prospects of economic cooperation with the two countries.
Fatima Al Jaber, member of the ADCCI, expressed readiness to establish joint ventures with Bangladeshi firms and …. Read the original article : Abu Dhabi seeks economic ties with Bangladesh, Portugal.
Sreedharan happy with cleanliness at Metro stations
NEW DELHI – Delhi Metro chief E. Sreedharan says he is happy over the state of discipline and cleanliness at stations.
In an interview to IANS, Sreedharan underlined that it takes a lot of efforts to achieve the desired results.
This has not come naturally. A lot of effort is put in educating the public … Read more >>.
Karat slams laxity in seizing black money in foreign banks
AGARTALA – The United Progressive Alliance (UPA) government is not taking any steps to bring back black money stashed away by Indians in foreign banks, Communist Party of India-Marxist (CPI-M) general secretary Prakash Karat said here Sunday.
“The Supreme Court is also not satisfied with the central governments inaction over the black money issue, Karat … Read : Karat slams laxity in seizing black money in foreign banks.
Honeywell posts $550 million sales in India in 2010
HYDERABAD – Honeywell International, a Fortune 100 globally diversified technology and manufacturing leader, recorded sales of $550 million in India last year and expects a growth of 15 percent this year, a top company official said Sunday.
Sales grew by 15 percent in 2010 and are expected to grow on the same trajectory during the … Read the original article on Gaea Times at : Honeywell posts $550 million sales in India in 2010.
Bangladesh, India open border land ports to boost trade
DHAKA – Bangladesh and India have opened two land ports along the international border to boost bilateral trade and facilitate trading activity of neighbours Nepal and Bhutan.
The simultaneous openings of the two land ports Saturday followed an understanding reached last year between the neighbours. India said it would also facilitate goods movement through Bangladesh’s …. Original article on Gaea Times at : Bangladesh, India open border land ports to boost trade.
Metro services to be affected by Republic Day rehearsal
NEW DELHI – Delhi Metro services will be partly curtailed Sunday as the dress rehearsals for the Republic Day parade take place with the Central Secretariat and Udyog Bhawan Metro stations remaining out of bounds for commuters till 12.30 p.m.
Delhi Metro Rail Corporation has announced that Metro services will be affected on the Huda … Read the original article on Gaea Times at : Metro services to be affected by Republic Day rehearsal.
Orissa holds up permission to operate 23 mines
BHUBANESWAR – Orissa has held up permission to operate 23 iron ore mines in its mineral rich Keonjhar district as the operators are yet to submit documents to show that their mining activities were legal, an official said Saturday.
“We have held up permissions and asked the operators to supply documents like forest clearance, mining … Read more : Orissa holds up permission to operate 23 mines.
India’s forex reserves rise $3.4 billion
MUMBAI – India’s foreign exchange (forex) reserves increased by $3.4 billion to $297.41 billion for the week ended Jan 14 on the back of rise in the value of foreign currency assets.
The foreign currency assets, the biggest component of the forex reserves kitty, rose by $3.30 billion to $267.86 billion during the week … Read the original article on Gaea Times at : India’s forex reserves rise $3.4 billion.
Now, pre-paid cards for fresh vegetables
LUCKNOW – Pre-paid cards are soon to cover packed, garden fresh vegetables. Kaushlendra, an alumnus of Indian Institute of Management-Ahmedabad (IIM-A), is getting set to launch it in Lucknow.
Kaushlendra, whose project of selling vegetables through ice-cooled push-carts became a hit in Bihar, told IANS that his new ORVEM (Organised Vegetable Marketing) project will be … Read more : Now, pre-paid cards for fresh vegetables.
Jaypee Infratech quarterly net profit falls 2.58 percent
NEW DELHI – Infrastructure major Jaypee Infratech Limited (JIL) has posted a decrease of 2.58 percent in net profit at Rs.378.51 crore during the quarter ended December 2010 as against Rs.388.53 crore for the like period last fiscal.
The total revenue of the company stood at Rs.755.38 crore during the quarter as compared to [..] Read the original article: here.
India set to grow at 8.4 percent in 2011: IMF
WASHINGTON – Essentially predicting no change in its previous estimate of 8.4 percent growth for India in 2011 dipping to eight percent in 2012, the International Monetary Fund (IMF) says the two-speed global recovery will continue.
In advanced economies, activity has moderated less than expected, but growth remains subdued, unemployment is still high, and …. Source : India set to grow at 8.4 percent in 2011: IMF.
IMF sees some ‘hot spots’ in Indian equities markets
WASHINGTON – Suggesting that some “hot spots” appear to be emerging in the equities markets in some countries including India, the International Monetary Fund (IMF) Tuesday said global financial stability is still not assured.
“Nearly four years after the onset of the largest financial crisis since the Great Depression, global financial stability is still not … Read this article on Gaea Times at : IMF sees some ‘hot spots’ in Indian equities markets.
Thai airline recruits transsexuals as flight attendants
BANGKOK – A newly launched Thai airline has adopted a policy of recruiting transsexuals as flight attendants in an effort to offer equal opportunities to the “third sex,” company sources said Tuesday.
PC Air hired three transsexuals, 17 women, and 10 men in its initial recruitment drive Monday.
“Our initial quota was set at three … Read this article on Gaea Times at : Thai airline recruits transsexuals as flight attendants.
Reliance, Tata eyeing hydro projects in Himachal
SHIMLA – Corporate giants like Reliance Power, Tata Power-SN Power joint venture, Larsen and Toubro (L&T), Essar Power, ABG Shipyard and GMR Infrastructure have shown keen interest in hydropower projects in Himachal Pradesh, official sources said here Tuesday.
Reliance Power alone has evinced interest in most of the hydro projects located mainly in Lahaul and … Read more >>>.
PTC India’s mega deal to buy Nepal power grounded
KATHMANDU – An initial power purchase agreement signed almost seven years ago between PTC India Ltd, a leading provider of power trading solutions in India, and Nepal’s biggest hydropower project in the private sector has been grounded, due to the protracted turmoil in the country.
The 750 MW West Seti hydropower project, being developed by …. Original article on Gaea Times at : PTC India’s mega deal to buy Nepal power grounded.
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 ` 62.14 on January 25, 2011. The corresponding rates for the previous day (January 24, 2011) were ` 45.58 and ` 62.01 respectively. Based on the Reference Rate for … Read this article on Gaea Times at : RBI Reference Rate for US $ and Euro.
Black money estimated at $462 billion to $1.4 trillion: Pranab
NEW DELHI – Finance Minister Pranab Mukherjee Tuesday said the estimate of black money stashed abroad by Indians and Indian entities was estimated at between $462 billion and $1.4 trillion and every step within means was being taken to bring it back.
He also made it clear that unless there are legal provisions in other … Read more : Black money estimated at $462 billion to $1.4 trillion: Pranab.
Sensex slips on profit booking
MUMBAI – A benchmark index for an Indian equities market Tuesday slipped from its intra-day highs as stocks first rose after only a 25 basis points hike in interest rates by the Reserve Bank of India, but later slipped sharply on profit booking.
Reserve Bank of India (RBI) Governor Duvvuri Subbarao hiked the repurchase or … Read more »».
Highlights of third quarter review of monetary policy
NEW DELHI – The Reserve Bank of India Tuesday hiked its short-term lending and borrowing rates by 25 basis points in its third quarter review of monetary policy 2010-11. Following are the highlights of the document:
— Repo rate raised by 25 basis points to 6.5 percent
— Reverse repo rate hiked by 25 …. Original article on Gaea Times at : Highlights of third quarter review of monetary policy.
RBI ups inflation projection to 7 percent, positive on growth
MUMBAI – With food prices continuing to rule high, the Reserve Bank of India Tuesday revised its current fiscal year-end projections for inflation, raising it to 7 percent from the earlier 5.5 percent, but said it was hopeful of the economy growing at a robust 8.5 percent.
“While the impact of transitory factors is expected … Read : RBI ups inflation projection to 7 percent, positive on growth.
Liquidity Adjustment Facility : Auction Results
The results of the RBI Repo/Reverse Repo auctions held on January 25, 2011 are:
Amount (face value in ` crore)
Item
2 days Reverse Repo Auction
(Sale of securities by RBI)
2 days Repo Auction
…. Source : Gaea News Network.
Myanmar to launch new private airline
YANGON – Asian Wings, a new private airline in Myanmar will be launched Thursday that will provide domestic and chartered services.
Two 70-seat TR 72-500 aircraft have arrived in Yangon for use in domestic flight services that would to cover 11 destinations, Xinhua reported citing the local Weekly Eleven News.
The Asian Wings airline is … Read more >>.
India’s Reserve Bank hikes key rates to tame inflation
MUMBAI – In a bid to tame prices that has seen annual food inflation soar to double digits, India’s central bank Tuesday hiked its short-term lending and borrowing rates by 25 basis points that could make commercial, housing and auto loans dearer.
Reserve Bank of India (RBI) Governor Duvvuri Subbarao hiked the repurchase or repo …. Original source : India’s Reserve Bank hikes key rates to tame inflation.
Mobile phone firms go all out to woo other’s customers
NEW DELHI – Telcom firms have launched a major advertising, marketing and promotional blitz to attract new and existing customers after the government launched a pan-India scheme that allows them to switch operators while retaining the numbers.
Although mobile number portability may not be a big game changer for the industry, it is certainly proving …. Original source : Mobile phone firms go all out to woo other’s customers.
India’s central bank hikes key interest rates
MUMBAI – India’s central bank hiked the short-term lending and borrowing rates by 25 basis points each to tame inflation. The repurchase rate now stands at 6.5 percent, while the reverse repurchase rate has been raised to 5.5 percent.
… Read more >>>.
Tourist arrivals in Spain rises in 2010
Madrid, Jan 25 (IANS/EFE) Last year Spain welcomed 52.6 million foreign tourists, 1 percent more than in 2009, authorities said.
The figures released previously by the Industry, Tourism and Trade Ministry indicated a growth of 1.4 percent, or some 53 million tourists.
However, the figures from the Frontur border entry survey, released Monday, continue to … Read the original article on Gaea Times at : Tourist arrivals in Spain rises in 2010.
Sensex rises, monetary policy awaited
MUMBAI – A benchmark index for Indian equities markets Tuesday rose in early trade ahead of the monetary policy review by the Reserve Bank of India which is expected to result in a hike of key interest rates.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,227.42 points, was [..] Read the original article: here.
Japanese shares rise on US, European gains
TOKYO – Japanese stocks rose in Tuesday morning trading as investor sentiment were boosted by overnight gains on the US and European markets.
The benchmark Nikkei 225 Stock Average gained 97.5 points, or 0.94 percent, to trade at 10,442.61 while the broader Topix index was up 11.34 points, or 1.24 percent, at 928.52.
Despite the …. Original article on Gaea Times at : Japanese shares rise on US, European gains.
US lifts 12-year export controls on Indian space, defence cos.
WASHINGTON – The United States Monday lifted a 12-year-old export control ban on nine Indian space and defence-related companies, removing them from the so-called Entity List in a move expected to drive hi-tech trade and forge closer strategic ties with India.
The companies removed from the export control list for sensitive items – mandatingput …. Source : US lifts 12-year export controls on Indian space, defence cos..
Toyota recalling 1.7 mn vehicles globally
TOKYO – Japan’s Toyota Motor Corp plans to recall 1.7 million vehicles worldwide, including 1.28 million in Japan, to repair faulty parts, including defective fuel pipes, the world’s largest automaker said Wednesday.
The recalls in Japan were for 16 models, including the Noah and Voxy minivans, manufactured from May 2000 to October 2008, a Toyota …. Original source : Toyota recalling 1.7 mn vehicles globally.
India seeks diversified cooperation with Nepal on R’Day
KATHMANDU – India celebrated its 62nd Republic Day in Nepal Wednesday by wishing for diversified India-Nepal cooperation in the days to come.
“India remains steadfast in its commitment to extend assistance for Nepals economic development and institutionalisation of multi-party democracy, the Indian ambassador to Nepal, Rakesh Sood, said.
It is our wish that India-Nepal cooperation … Read : India seeks diversified cooperation with Nepal on R’Day.
Car licence lottery held in traffic choked Beijing
BEIJING – The first ever car licence plate lottery was held Wednesday in Beijing, a city where 800,000 new cars took to the overcrowded roads last year.
The lottery system has been introduced to restrict vehicle purchases and curtail worsening traffic jams, Xinhua reported.
Data from the Beijing Municipal Commission of Transport shows the number … Read more : Car licence lottery held in traffic choked Beijing.
‘India presents fantastic opportunities for US firms’
WASHINGTON – With India presenting “fantastic opportunities” for American companies in infrastructure development, the US is making it a priority to help private sector help meet India’s growing needs, according to a senior official.
“India presents fantastic opportunities for US companies to provide the goods and services needed to build its railroads, airports, power plants, … Read more >>.
Airtel bets on World Cup, IPL to flag 3G service
BANGALORE – India’s largest mobile service operator Bharti Airtel is betting on the upcoming World Cup and Indian Premier League (IPL) to hook customers on to its 3G (third generation) service to view cricket matches live on their mobile phones.
“We will pitch for more subscribers during the World Cup and IPL matches to flag …. Original source : Airtel bets on World Cup, IPL to flag 3G service.
Innovate to face India, China challenge: Obama
WASHINGTON – Citing once again the growing challenge from emerging powers like India and China, US President Barack Obama asked Americans to unleash their creative spirits and innovate to “win the future” in a rapidly shifting global economy.
“That world has changed. And for many, the change has been painful,” he said in a State …. Original article on Gaea Times at : Innovate to face India, China challenge: Obama.
Bengal’s secondary steel sector face raw material shortage
KOLKATA – The secondary steel sector in West Bengal, which churns a fifth of India’s total production of this commodity, is in a severe crisis following insecurity over supply of raw materials, especially iron ore.
“Lack of raw material like coal and iron ore is severely affecting the secondary steel sector in West Bengal. Producers … Read : Bengal’s secondary steel sector face raw material shortage.
Spain posts lower than expected budget deficit
Madrid, Jan 26 (IANS/EFE) The Spanish government ran a budget deficit equal to 5.1 percent of gross domestic product in 2010, better than the official forecast of 5.9 percent of GDP, a minister said.
Spain “comfortably” met the goal of keeping the cumulative 2010 deficit of the national, regional and municipal administrations at no more …. Source : Gaea News Network.
Pilots get stake in Mexican airline
Mexico City, Jan 26 (IANS/EFE) The union representing pilots at Mexicana de Aviacion is getting a 2.8 percent stake in the carrier, which went bankrupt last year, as compensation for unpaid wages, union leaders said.
The union’s stake in the carrier was reduced by about 2 percent, Airline Pilots Association, or ASPA, leader Fernando Perfecto … Read more : Pilots get stake in Mexican airline.
Companies Bill to come up in budget session: Deora
MUMBAI – The Companies Bill, 2009, will be presented for consideration of parliament during its budget session next month, said Corporate Affairs Minister Murli Deora here Tuesday, adding the ministry would also address problems of small investors.
Deora said the ministry would try addressing the problems faced by small investors and independent directors by making …. Read the original article : here.
List of the Padma awardees
NEW DELHI – The following is the list of 128 Padma awardees approved by President Pratibha Patil on the eve of the Republic Day Tuesday.
Padma Vibhushan
01.Kapila Vatsyayan Art-Administration and Promotion
02.Homai Vyarawalla Art-Photography
03.Nageshwara Rao Art- Cinema
04.Parasaran Kesava Iyengar Public Affairs … Read more >>.
India confident of over 9 pc growth next year: President
NEW DELHI – President Pratibha Patil Tuesday said the government was confident of achieving over 9 per cent economic growth next year, but admitted that rising inflation, specially food prices, are a matter of serious concern.
“We are now returning to the pre-crisis growth pattern and are confident of growing at over 9 percent …. Original article on Gaea Times at : India confident of over 9 pc growth next year: President.
Tata Coffee net profit zooms 79 percent in third quarter
BANGALORE – Tata Coffee Ltd Tuesday reported a net profit of Rs.25 crore for the third quarter (Oct-Dec) of the 2010-11 fiscal as against Rs.14 crore in the previous 2009-10 fiscal, registering a whopping 79 percent year-on-year (YoY) growth.
In a regulatory filing, the company said the turnover was Rs.101 crore for the …. Original source : Tata Coffee net profit zooms 79 percent in third quarter.
India will grow over 9 percent next year: President
NEW DELHI – President Pratibha Patil Tuesday said the Indian economy is expected to grow more than 9 percent in 2011-12.
“We are expecting a growth of more than 9 percent next year,” the president said in her message to the nation on the eve of Republic Day.
She said the economy’s performance has … Read this article on Gaea Times at : India will grow over 9 percent next year: President.
GVK to develop two airports in Indonesia
NEW DELHI – GVK Power and Infrastructure will develop two airports in Indonesia with an investment of nearly $5 billion, the company’s vice-chairman G.V. Sanjay Reddy said here Tuesday.
We will be developing two greenfield international airports in Indonesia. It will require an investment of $4-5 billion, Reddy told reporters after signing agreements with …. Source : Gaea News Network.
RBI hikes key rates by 0.25 percent to curb inflation
MUMBAI – The Reserve Bank of India (RBI) on Tuesday raised the repo rate and the reverse repo rate by 0.25 per cent, each, with immediate effect, in order to curb inflation.
Announcing its third quarterly monetary policy review here, the RBI said that it has increased its repo rate to 6.5 per … Read more : RBI hikes key rates by 0.25 percent to curb inflation.
No night trains in Assam till Jan 30
KOLKATA – Night-time movements along the Guwahati-Lumding section of North East Frontier Railway in Assam have been suspended till Jan 30 to prevent any possible subversive activity in view of Republic Day Wednesday, a railway release said.
Intelligence sources said there were inputs about threats from different militant groups, including the United Liberation Front of …. Source article : No night trains in Assam till Jan 30.
Wipro’s Premji leads Padma awardees among industrialists
NEW DELHI – Wipro chairman Azim Premji led the list of this year’s awardees named for the government’s civilian “Padma” honours, among the representatives of trade and industry here Tuesday.
Premji, who has also made a mark in philanthropy, was named for the second highest Padma Vibushan award.
In the list of 128 awardees for … Read more : Wipro’s Premji leads Padma awardees among industrialists.
Bangladesh to probe stock market crash
DHAKA – The Bangladesh government Tuesday formed a three-member committee to probe into the causes behind the collapse of its stock markets twice in this month.
The committee headed by Khondkar Ibrahim Khaled, chairman of the Bangladesh Krishi Bank and former deputy governor of the Bangladesh Bank, was announced by Finance Minister A.M.A. Muhith.
Names … Original article on : Bangladesh to probe stock market crash.
Railways’ freight earning up by 6.27 percent
KOLKATA – The Railways’ revenue earnings from commodity-wise freight traffic rose by 6.27 percent during the April-December period of 2010 over the corresponding figure a year ago, a statement said Tuesday.
The Railways earned Rs.44,789.55 crore from commodity-wise freight traffic during April-December 2010, compared to Rs.42,146.97 crore during the corresponding period in 2009.
The Railways …. Read the original article : Railways’ freight earning up by 6.27 percent.
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.
Bharti Airtel is not a price point player in 3G service (Repeating for all needing)
CHENNAI – Integrated mobile telephony major Bharti Airtel Ltd said Thursday that it is not a price point player though there may be price play in the company’s strategy to gain market share in the 3G service segment.
“There are market segments that have different needs. Pricing plans to have to meet that. But we …. Read the original article : here.
After Antarctica, Kerala travel agency eyes space
THIRUVANANTHAPURAM – Kerala Travels has many firsts to its credit. Billed as the first travel agency in Kerala, it was the first to come out with a tourism brochure, offer Antarctica-Arctic packages and now is working on an ambitious plan to send children to space.
“This is the first stage of space tourism where 30 … Read : After Antarctica, Kerala travel agency eyes space.
Goa scraps controversial number plate contract to Delhi firm
PANAJI – After dilly-dallying for nearly a year, the Goa government Friday scrapped a controversial agreement signed with a Delhi-based firm for providing high security number plate (HSNP) for motor vehicles in Goa.
The decision was taken after a high-level committee admitted that there were major discrepancies in awarding of the contract. The opposition had … Read more >>>.
Reliance Infrastructure in $900 mn Nepal highway project race
KATHMANDU – Reliance Infrastructure, a part of the Anil Dhirubhai Ambani Group, remains in the race for the prestigious $900-million highway project in Nepal, expected to boost development in the southern Terai plains, top officials said.
Expression of interest for the four-lane, 76-km highway was invited in 2009 to connect the capital city with the … Read the original article on Gaea Times at : Reliance Infrastructure in $900 mn Nepal highway project race.
India targets $1 trillion infrastructure investment: Ahluwalia
DAVOS – India will double its investments in infrastructure to $1 trillion during the 11th Five Year Plan that begins 2012, with half of that expected from the private sector, Planning Commission Deputy Chairman Montek Singh Ahluwalia has said.
Speaking at the annual meeting of the World Economic Forum at this Swiss ski resort, the …. Original article : India targets $1 trillion infrastructure investment: Ahluwalia.
Suzlon signs wind power deal worth $1.28 bn
MUMBAI – The country’s largest wind power turbine manufacturer Suzlon Energy Ltd Friday said it had signed a $1.28 billion deal for building 1,000 MW of wind power projects to be developed in India with Caparo Energy.
The project’s first 500 MW will be completed by March of 2012 and the remainder by March …. Original source : Suzlon signs wind power deal worth $1.28 bn.
General Motors India launches Smartech petrol engine
NEW DELHI – Making a slew of sales and products announcements, General Motors (GM) India has launched its made in India new petrol engine in New Delhi which would be fitted into its hatchback beat from next month onwards.
The newly launched engine is called as “Smartech Engine.”
Addressing mediapersons, Karl Slym, President and Managing Director of … Read the original article on Gaea Times at : General Motors India launches Smartech petrol engine.
Pakistanis increasingly going hungry: Pakistani daily
ISLAMABAD – Pakistanis are “increasingly going hungry”, a leading Pakistani daily Friday said adding that it was shocking that the malnutrition levels in Sindh province have been “likened to those prevailing in sub-Saharan Africa”.
An editorial in the Dawn Friday said: “It is shocking that the levels of malnutrition in Sindh have been likened to …. Source article on Gaea Times at : Pakistanis increasingly going hungry: Pakistani daily.
Scheduled Banks’ Statement of Position in India as on Friday, January 14, 2011
(Amount in Rupees crore)
Scheduled Commercial Banks (SCBs) (including RRBs)
All Scheduled Banks
15.01.2010
31.12.2010
*
14.01.2011
*
15.01.2010
31.12.2010
*
14.01.2011
*
I
Liabilities to the Banking System (A)
a) Demand & time deposits from banks
53915.56
69499.66
66428.59
56708.81
72209.02
69137.95
**
b) Borrowings from banks
19052.83
26638.13
23220.03
19059.21
26836.16
23358.44
c) Other demand & time liabilities
5527.07
9120.92
7161.96
5545.32
9126.57
7167.61
II
Liabilities to Others (A)
a) Deposits (other than from banks)
4247501.73
4971390.23
4945648.08
4386690.27
5116397.08
5090858.13
i) Demand
539893.52
636525.13
572901.01
553597.58
652563.34
587944.98
ii) Time
3707608.21
4334865.10
4372747.07
3833092.69
4463833.74
4502913.15
b) Borrowings @
101767.31
116737.93
124180.74
103505.05
119355.09
126761.26
c) Other demand …. Original article : Scheduled Banks’ Statement of Position in India as on Friday, January 14, 2011.
RBI Reference Rate for US $ and Euro
The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.74 and the Reference Rate for Euro is ` 62.73 on January 28, 2011. The corresponding rates for the previous day (January 27, 2011) were ` 45.57 and ` 62.46 respectively. Based on the Reference Rate for …. Source article on Gaea Times at : RBI Reference Rate for US $ and Euro.
Revised cost for Tripura power project gets nod
AGARTALA – The revised cost estimate of Rs.623.44 crore for Tripura’s 100 MW thermal power project has got the green signal from the union Cabinet Committee on Economic Affairs (CCEA), officials said here Friday.
“The CCEA headed by Prime Minister Manmohan Singh in its meeting held in New Delhi Thursday approved the revised cost estimate …. Source article on Gaea Times at : Revised cost for Tripura power project gets nod.
Agartala-Kolkata bus service via Bangladesh likely: Minister
AGARTALA – New Delhi and Dhaka may soon introduce a direct bus service from this capital of Tripura to Kolkata via Bangladesh, a minister said here Friday.
A five-member team of the Bangladesh Road Transport Corporation (BRTC) Friday held a meeting with Tripura Transport Minister Manik Dey and other Indian officials to discuss the issue. … Read : Agartala-Kolkata bus service via Bangladesh likely: Minister.
Sensex sheds further, selling intensifies across markets
MUMBAI – Selling intensified at noon in Indian equities markets after trading had begun Friday on a weak note.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,708.62 points, was ruling at 18,469.96 points, down 214.47 points or 1.15 percent from its previous close at 18,684.43 points.
The 50-scrip … Read this article on Gaea Times at : Sensex sheds further, selling intensifies across markets.
RBI invites Comments on Malegam Committee Report on MFIs
The Reserve Bank of India has invited views/comments of all stakeholders and the public at large on the Malegam Committee report on microfinance institutions (MFIs). Comments/suggestions/views may be forwarded to the Chief General Manager-in-Charge, Rural Planning and Credit Department, Reserve Bank of India, Central Office Building, 10th floor, S.B.S. Road, … Read this article on Gaea Times at : RBI invites Comments on Malegam Committee Report on MFIs.
Luxury dinner could make even the richest think twice before ordering
BEIJING – A luxury hotel in China is offering a special dinner package for the upcoming Chinese lunar new year that may cause even the most well-off to think twice before ordering it. It’s priced at 388,888 yuan (about $59,000).
The high price of the dinner package has made it one of the most expensive …. Source : Gaea News Network.
Mahindra Genio Launched In India
MUMBAI, INDIA (GaeaTimes.com)- Mahindra & Mahindra which is one of the leading commercial car manufacturers of India has launched Genio its new commercial vehicle. The new 1.2 tonne pick-up trick is targeted at the small to mid sized business segment. The BS3 version of the model is priced at INR 499000 and a BS4 [..] Read the original article: here.
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
… Original source on Gaea Times at : Liquidity Adjustment Facility : Auction Results.
From a Punjab kitchen, these sweets, snacks have travelled far
CHANDIGARH – A business formula that originated three decades ago in the kitchen of a homemaker is creating a buzz in international markets. What is more, it counts chains like McDonalds, Pizza Hut, Barista and Cafe Coffee Day as clients.
Brainchild of 62-year-old Rajni Bector, Cremica products started with ice-creams made from a hand churner …. Original source : From a Punjab kitchen, these sweets, snacks have travelled far.
Bangladesh hopes for $400 mn Indian investment
DHAKA – Bangladesh hopes to attract Indian investments worth Taka 30 billion ($422 million) at the second Indo-Bangla trade fair to be held here in May, reducing its bilateral trade deficit.
India-Bangladesh Chamber of Commerce and Industry president Matlub Ahmed said he based his optimism on the success of the first Indo-Bangla trade fair … Read the original article on Gaea Times at : Bangladesh hopes for $400 mn Indian investment.
World’s fertilizer leader doubles profits on rising food prices
TORONTO – Rising global food prices have spelt bonanza for the world’s biggest fertilizer company, Potash Corporation, which Thursday reported more than a two-fold increase in its profits during the fourth quarter.
The Canadian company’s stock also jumped about three percent to $172.26 on the Toronto Stock Exchange Thursday on record profits. At the opening … Original article on : World’s fertilizer leader doubles profits on rising food prices.
Further rate hike fears allow bears control of Indian equities (Weekly market review)
MUMBAI – Bears had the Indian equities markets in their firm grasp as stocks got battered in the wake of rising inflation and the Reserve Bank of India raising key interest rates and hinting at more such tightening in the short-term.
In a truncated trading week, the 30-scrip sensitive index (Sensex) of the Bombay Stock … Read more >>>.
Chandigarh gets Rs.5 crore to light up Rock Garden
CHANDIGARH – Chandigarh’s famed Rock Garden will now be illuminated. The union tourism ministry has given a Rs.5 crore grant to illuminate the garden, a major tourist attraction, and promote night tourism in the city, an official said Saturday.
Rock Garden, which showcases art objects in various forms and designs, made from industrial and urban … Read more »».
Chlorine gas leak detected on time, says Chemfab Alkalis
CHENNAI – Three days after a chlorine gas leak from its factory left 300 people affected, Chemfab Alkalis Ltd Saturday said the leakage had been detected on time and turned off but a strong wind carried the gas outside the premises.
The factory also said it is extending full cooperation to Puducherry authorities in investigating …. Read the original article : Chlorine gas leak detected on time, says Chemfab Alkalis.
India’s new telecom policy to make licensing norms tougher
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 this article on Gaea Times at : India’s new telecom policy to make licensing norms tougher.
Chandigarh: City for 500,000 now has 800,000 vehicles
CHANDIGARH – When French architect Le Corbusier designed the modern city of Chandigarh in the 1950s, it
was supposed to cater to a maximum population of 500,000 residents. Six decades on, this twin capital is still the ‘City Beautiful’, but houses almost 1.2 million people with 800,000 registered vehicles and an estimated 100,000 driving …. Source article : Chandigarh: City for 500,000 now has 800,000 vehicles.
BlackBerry knocked out of Top-5 sellers by China’ ZTE
TORONTO – China’s ZTE Corp. has replaced BlackBerry maker Research In Motion (RIM) among the world’s top five mobile phone sellers.
According to a report released Friday by tech research company IDC, the low-priced cellphone maker ZTE also pushed Apple to the last spot on the Top-5 list on the back its surging sales.
… Original source on Gaea Times at : BlackBerry knocked out of Top-5 sellers by China’ ZTE.
Waste-pickers’ views will be reflected in policy: Ramesh
AHMEDABAD – Waste-pickers’ views will be taken while drafting policy on waste disposal, union Environment and Forests Minister Jairam Ramesh said Friday.
Inaugurating the first-ever national conference of waste pickers, organised under the aegis of Alliance of Indian Waste-Pickers (AIW), at Self-Employed Women’s Association (SEWA), Ramesh said his department will take into consideration the … Read more »»».
MindTree co-founder chairman quits
BANGALORE – Leading IT consultancy and product engineering services firm MindTree Ltd co-founder Ashok Soota Friday resigned as the chairman and the member of the board here.
In a regulatory filing, the city-based company said Soota had requested the board to release him as an employee and executive chairman from March 31, 2011.
“The decision … Read more >>>.
Coast Guard plane chases pirates away off Lakshadweep
NEW DELHI – Pirates closing in on a merchant vessel off the Lakshadweep were thwarted by the Indian Coast Guard Friday with its patrol aircraft chasing the sea brigands away through a timely intervention.
The Bahamas-flagged container carrier, MV CMA CGM Berd, was sailing west of the Lakshadweep Islands when the Coast Guard’s Dornier …. Read the original article : here.
Indian tourism industry targets gay, lesbian travellers
NEW DELHI – Gay and lesbian tourists are big spenders and vacation savvy and are being increasingly targeted by travel operators in India, said travel experts at the 18th South Asia Travel and Tour Expo (SATTE) Friday.
“Gays or lesbians are the biggest spender on lifestyle products. They have maximum disposable incomes as they come … Read more : Indian tourism industry targets gay, lesbian travellers.
SPAR to open 24 more hypermarkets in next two years
NEW DELHI – Reality major Landmark Group’s retail subsidiary SPAR Friday said that it plans to add another 24 hypermarkets to its chain in the next two years, with an investment of Rs.550 crore.
“We plan to add another 24 hypermarkets in the metros and tier-I, II cities in the next two years, with a …. Source article : SPAR to open 24 more hypermarkets in next two years.
Tata Beverages, Kerala Ayurveda to form joint venture
BANGALORE – Tata Global Beverages Ltd Friday signed an agreement with Kerala Ayurveda Ltd to form a joint venture (JV) for developing a range of beverages and food products based on native recipes for the global market.
“The proposed joint venture will focus on developing beverage and food products based on Ayurvedic recipes, actives and …. Source article : Tata Beverages, Kerala Ayurveda to form joint venture.
Chennai Metro to begin service in two years: Stalin
CHENNAI – The 45-km Chennai Metro Rail project will be completed ahead of the original schedule and the train service would begin in two years time, Tamil Nadu Deputy Chief Minister M.K. Stalin said here Friday.
Speaking to reporters after reviewing the project’s progress, he said the first phase between Koyambedu and St. Thomas Mount …. Source article on Gaea Times at : Chennai Metro to begin service in two years: Stalin.
Tourism minister calls for higher regional cooperation
NEW DELHI – Tourism Minister Subodh Kant Sahay Friday called for higher cooperation among South Asian countries in promoting tourism and offered India’s training facilities to other countries in the region.
More trained and skilled tourism professionals are required for the fast developing tourism industry. India can offer its training facilities to the people from …. Original article on Gaea Times at : Tourism minister calls for higher regional cooperation.
UCO Bank’s net up 22.35 percent in Q3
KOLKATA – Public sector UCO Bank Friday declared a 22.35 percent year-on-year (YoY) growth in its net profit to Rs.301 crore in the third quarter of the current fiscal compared to Rs.246 crore in the corresponding period the previous year.
Declaring the third quarter results, UCO Bank chairman and managing director Arun Kaul … Read the original article on Gaea Times at : UCO Bank’s net up 22.35 percent in Q3.
HCL Infosystems Q3 net profit dips marginally
NEW DELHI – HCL Infosystems Ltd Friday reported a marginal decline of 0.19 percent in its net profit during the quarter ended December 2010 at Rs.55.98 crore as against Rs.56.09 crore in the same period last fiscal.
However, the net income from operations of the company increased by 2.75 percent at Rs.3,115.14 crore for the …. Source article : HCL Infosystems Q3 net profit dips marginally.
Air India announces sops for international travellers
MUMBAI – National carrier Air India has introduced several schemes including ‘Buy One Get One Free’ for those using it to travel to London, Frankfurt, Paris and Toronto, an official said.
“Only fuel surcharge and non-airline taxes will be payable on the companion ticket. The passenger and the companion would have to travel together in … Read more : Air India announces sops for international travellers.
Ennore Port’s three new terminals go on stream
CHENNAI – Three new terminals – for coal, iron ore and cars – went on stream at Ennore Port here Friday.
Speaking at the function, union Shipping Minister G.K. Vasan, stressed the need for further expansion of the Indian port sector to keep in line with the economic growth.
He said: “The coal and …. Source article on Gaea Times at : Ennore Port’s three new terminals go on stream.
Lilliput Kidswear’s new apparel line with Nick’s cartoons
NEW DELHI – Leading kids entertainment channel Nick India Friday said that it has signed a licensing agreement with children clothing retailer Lilliput Kidswear for an apparel line based on popular cartoon characters.
“As part of the deal, Lilliput Kidswear will launch a full array of apparel lines around Nicks most popular characters – …. Original source : Lilliput Kidswear’s new apparel line with Nick’s cartoons.
Mahindra to target captive segment for Genio pickup
CHENNAI – Automobile major Mahindra and Mahindra Ltd (M&M) will first target the captive segment for its newly-launched Genio pickup truck and look at exports along the way, an official of the Rs.31,172 crore company said here Friday.
“We are looking at exports is all I can say as I do not handle that portfolio. …. Original source : Mahindra to target captive segment for Genio pickup.
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 >>>.