Business News – Newsletter for February 5, 2011

Saturday, February 5, 2011

Mubarak meets economic ministers, central banker: Report

CAIRO – Egyptian President Hosni Mubarak Saturday met with ministers holding economic portfolios and the head of the central bank at the presidential palace in Cairo, state media reported.

Newly appointed Finance Minister Samir Radwan and central bank Governor Farouq al-Oqda joined the ministers of oil, trade and social security for a meeting with the … Read : Mubarak meets economic ministers, central banker: Report.

Coffee Mate Freebies On Facebook

SAN FRANCISCO (GaeaTimes.com)- Nestle’s Coffee Mate is surely very popular among the caffeine addicts as is evident from the overwhelming response given to an online freebie campaign offered by the company. The company had announced an exclusive “Free Flavor Friday” which was meant for offering 100000 coupons for a bottle of Coffee Mate for … Read the original article on Gaea Times at : Coffee Mate Freebies On Facebook.

Delhi Metro airport line to open by March

NEW DELHI – The Delhi Metro’s airport express line, the first public-private partnership project, will be operational in a month’s time, Delhi Chief Minister Sheila Dikshit said Saturday.

Dikshit took a ride on the 23-km link Saturday.
At a speed of 120 km per hour, it will take only 18 minutes to reach Indira Gandhi … Read : Delhi Metro airport line to open by March.

We expect leadership from India: UN climate chief

NEW DELHI – India played an exceedingly helpful role in the last climate summit and we expect the same this year and beyond, UN climate chief Christiana Figueres said here Saturday.

India represented its own interests and stood firm with other developing countries, and then was incredibly helpful in showing that its mostly in the …. Original source : We expect leadership from India: UN climate chief.

US unemployment rate falls to nine percent

Washington, Feb 5 (IANS/EFE) The US unemployment rate dropped to nine percent last month, the Labour Department said in a report that surprised most analysts expecting joblessness to remain at or above December’s level of 9.4 percent.

The January unemployment rate was the lowest since April 2009 and coincides with other indicators that the economic … Read this article on Gaea Times at : US unemployment rate falls to nine percent.

Egypt unrest might cause economic collapse: Boutros Ghali

Cairo, Feb 5 (IANS/AKI) The current revolt against President Hosni Mubarak in Egypt could cause a collapse of the economy, former United Nations secretary general Boutros Boutros Ghali has said.

“A country like Egypt which is facing a population explosion cannot withstand the current situation,” said Boutros Ghali told Adnkronos International (AKI) in an … Original source on Gaea Times at : Egypt unrest might cause economic collapse: Boutros Ghali.

Force10 to expand India development centre

CHENNAI – With the global market for computer networking products and solutions on the rebound, the $175 million revenue Force10 Networks Inc. plans to expand its Indian development centre by adding headcount, investing $10 million and also deepening its presence in the domestic market.

“We plan to add around 100 high calibre engineers in the … Original source on Gaea Times at : Force10 to expand India development centre.

US restaurtant chain Quiznos expands into India

WASHINGTON – US restaurant chain Quiznos plans to expand into India with five Quiznos outlets in southern Indian cities by the end of the year, the first of which is set open in May 2011.

The privately held Denver-based company said Friday it has awarded master franchising rights for southern India, including Bangalore, Kochi, Chennai … Original article on : US restaurtant chain Quiznos expands into India.

US stocks edge higher amid mixed jobs report

NEW YORK – US stocks closed higher Friday as investors digested a mixed unemployment report and watched ongoing protests against Egyptian President Hosni Mubarak.

The US unemployment rate unexpectedly dropped to nine percent in January, its lowest rate since April 2009, but employers added only 36,000 jobs during the month as snow storms hit much …. Original source : US stocks edge higher amid mixed jobs report.

Sagardighi thermal plant to come up by 2015

KOLKATA – The construction work for the 1,000-MW thermal power plant at Sagardighi in West Bengal’s Murshidabad district will be completed within 2015, an official said Friday.

“The construction work for the 1,000-MW power plant at Sagardighi will commence after two months and it will be over after four years,” state’s Principal Secretary (Power) … Read more >>.

Deep sea port to come up on reclaimed land in Bengal

HALDIA – A new deep sea port will come up at Sagar in West Bengal by reclaiming 2,000 acres of land through dredging, Railways Minister Mamata Banerjee announced here Friday.

Banerjee said not a single plot of land will have to be acquired for the project to be built by the shipping ministry.
“The … Read more : Deep sea port to come up on reclaimed land in Bengal.

Railways to recruit around 3 lakh people: Mamata Banerjee

HALDIA – The Indian Railways will recruit 2.5 lakh to 3 lakh people in the next six months across the country, union Railway Minister Mamata Banerjee said here Friday.

We will take 2.5 lakh – 3 lakh people all over the country. But I am sure we will get over three crore job applications,” Banerjee … Read : Railways to recruit around 3 lakh people: Mamata Banerjee.

Etihad to expand services in India

Abu Dhabi, Feb 4 (IANS/WAM) Etihad Airways, the national airline of the United Arab Emirates, has decided to expand its services in India to tap the huge opportunity offered by the Indian aviation sector.

A delegation led by Etihad Chief Executive James Hogan Thursday arrived in New Delhi to meet key civil aviation officials … Read more »»».

Post-Adarsh scam, Chavan reassures builders

MUMBAI – With the builders in Maharashtra running scared in the aftermath of the Adarsh Housing Society scam, Chief Minister Prithviraj Chavan Friday sought to assure that those who came up with “genuine projects” would get approval by the government.

Addressing a meeting of the Maharashtra Chamber of Housing Industry here, Chavan took pains to … Original article on : Post-Adarsh scam, Chavan reassures builders.

Ban non-coal activity in coal belts: Minister

LUCKNOW – Union Coal Minister Sriprakash Jaiswal Friday sought a complete ban on all projects being undertaken in any of the coal belts across India.

The demand for coal is on the rise because of the increasing number of thermal power plants that are being built. Therefore it is important to ensure that no non-coal … Read more : Ban non-coal activity in coal belts: Minister.

Montek bats for FDI in agriculture

KOLKATA – Planning Commission Deputy Chairman Montek Singh Ahluwalia Friday batted for foreign direct investment (FDI) in the farm sector in India, saying “modernisation of agricultural marketing is very important”.

“Farmers are getting very low prices for their products and consumers are paying higher prices. So modernisation of agricultural marketing is very important. To modernise …. Read the original article : Montek bats for FDI in agriculture.

Global crude prices to come down shortly: Montek

KOLKATA – The ongoing Egyptian crisis is a temporary phenomenon and global crude oil prices, which are hovering around a two-year high due to the violent unrest in the African country, will come down shortly, Planning Commission Deputy Chairman Montek Singh Ahluwalia said Friday.

“The Egyptian crisis is a temporary phenomenon and I hope that …. Original source : Global crude prices to come down shortly: Montek.

President Leonel Fernandez said in a lecture at Sapru House here: “The Dominican Republic looks forward to strengthening and deepening relations with India, with which we have too … Original article on : Dominican Republic wants to deepen ties with India.