Business News – Newsletter for February 7, 2011

From Davos to Dakar: Carnival of oppressed begins

DAKAR – Days after the global elite’s jamboree at the Swiss resort of Davos, a week-long carnival of the oppressed and the marginalized, and those speaking for them, has begun in the capital of this western African nation, with thousands of left-leaning activists declaiming against globalization and its discontents.

The 11th edition of the annual …. Source  : From Davos to Dakar: Carnival of oppressed begins.

US team in India to discuss nuclear cooperation

NEW DELHI – A high level delegation from the US energy department is on a 10-day visit to India to discuss ways of cooperation and partnership in the nuclear energy sector, the US embassy said Monday.

Representatives from the US department of energy are visiting India to learn more about the country’s nuclear energy [..] Read the original article: here.

AOL buys Huffington Post for 315 million dollars

NEW YORK – New York-based AOL is reportedly buying the Huffington Post for 315 million dollars.

The Huffington Post is a progressive American news website and content aggregating blog founded by Arianna Huffington, Kenneth Lerer, and Jonah Peretti, featuring various news sources and columnists.

The site offers coverage of politics, media, business, entertainment, living, style, the green …. Source article on Gaea Times at  : AOL buys Huffington Post for 315 million dollars.

India must look outward to reap demographic dividend (Comment)

Recent reports indicate India may not meet its objective of a stable population base by 2045. Instead, this goal is likely to be met only by 2060 when the country’s population stabilizes at 1.65 billion — 200 million more than the original target. After 10 years of rigorous enforcement, the mark has moved forward 15 … Original article on : India must look outward to reap demographic dividend (Comment).

US high-tech team to promote trade with India

NEW DELHI – A high-end technology trade mission from the US, led by Commerce Secretary Gary Locke, is in India to promote the export of technologies in sectors such as civil nuclear energy, aviation and defence to the largest economy in south Asia.

Locke was part of the team that accompanied President Barack Obama to …. Source  : US high-tech team to promote trade with India.

Cathay Pacific opts for Kerala IT firm’s solution

THIRUVANANTHAPURAM – Hong Kong-based Cathay Pacific airline has signed a multi-million dollar contract to implement IBS’ new generation solution iFly Staff to automate and improve the management of employee travel — both leisure and business.

In a press statement issued here Monday, the Technopark-headquartered IT firm IBS said iFly Staff will also be used for … Read : Cathay Pacific opts for Kerala IT firm’s solution.

Bihar proposes increase in plan outlay

PATNA – The Bihar government has decided to raise the state’s plan size by about 20 percent, much above what the Planning Commission had proposed.

It has sent to the Planning Commission a plan outlay proposal of Rs.24,000 crore even though it had last year used only Rs.11,000 crore of the allocated Rs.20,000 crore.
…. Original article  : Bihar proposes increase in plan outlay.

RBI Reference Rate for US $ and Euro

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.59 and the Reference Rate for Euro is ` 62.04 on February 7, 2011. The corresponding rates for the previous day (February 4, 2011) were ` 45.64 and ` 62.24 respectively. Based on the Reference Rate …. Source article  : RBI Reference Rate for US $ and Euro.

Indian Army refloats tenders for heavy guns

NEW DELHI – The Indian Army has once again begun the process of acquiring heavy guns, floating tenders for both the towed and tracked systems that have a range of up to 40 km.

The tender for the towed gun was issued on Jan 28 while that for the tracked version was issued in mid-January.
… Original source on Gaea Times at : Indian Army refloats tenders for heavy guns.

Nepal reels under 14-hour power cuts daily

KATHMANDU – As Nepal’s new communist Prime Minister Jhala Nath Khanal assumed office Monday, Nepal’s power authorities announced a stringent 14-hour daily electricity blackout, citing the drying up of rivers that are the main source of energy.

The Nepal Electricity Authority (NEA), which has already enforced a 12-hour outage daily for over a month, now … Read more : Nepal reels under 14-hour power cuts daily.

‘No glass ceiling for women in India’

WASHINGTON – Succesful Indian women believe there is no glass ceiling for women in India though Indian men still struggle to be supportive of their aspirations and women often need to tune their ambitions accordingly.

Some of these exceptional Indian women who have made a mark in the spheres of business and arts talked about … Original article on : ‘No glass ceiling for women in India’.

Liquidity Adjustment Facility : Auction Results

The results of the RBI Repo/Reverse Repo auctions held on February 7, 2011 are:

Amount  (face value in ` crore)                            

Item

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

1 day Repo Auction 
…. Source article on Gaea Times at  : Liquidity Adjustment Facility : Auction Results.

Sensex ruling in tight range, broader markets give up gains

MUMBAI – A benchmark index for Indian equities markets around Monday noon was trading in a tight range, even as broader markets gave up their early gains.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,135.02 points, was ruling at 18,085.51 points, up 77.36 points or 0.43 percent from …. Read the original article  : Sensex ruling in tight range, broader markets give up gains.

India predicts 8.6 percent growth this fiscal

NEW DELHI – Projecting a noteworthy 5.4 growth in farm output, 8.1 percent in factory production and 10.2 percent in services, India Monday estimated the overall economy to expand 8.6 percent this fiscal against 8 percent the previous year.

As per fresh estimates released by the Central Statistical Organisation (CSO), the gross domestic product (GDP) … Original source on Gaea Times at : India predicts 8.6 percent growth this fiscal.

Money Market Operations as on February 04, 2011

… Read : Money Market Operations as on February 04, 2011.

Amid Egypt crisis, India worries over oil bill

KANDI – India’s oil import bill will be a matter of concern if oil prices shoot up further, Finance Minister Pranab Mukherjee said Sunday.

“At this point of time, the trade balance and the current account deficit are manageable. But going forward, we don’t know how (they) will pan out,” he said on the sidelines … Read more >>.

Haryana to soon have agriculture policy: Hooda

JIND – Haryana Chief Minister Bhupinder Singh Hooda Sunday said that his government has asked the State Farmers Commission to formulate an agriculture policy that will better the lot of farmers.

Addressing a farmers meeting, organised by the Association of Agriculture Development Officers at Jind, 200 km from Chandigarh, Hooda directed the commission to give …. Original article on Gaea Times at  : Haryana to soon have agriculture policy: Hooda.

Tata Motors unveils new Manza

MUMBAI – The latest version of Tata Motors’ sedan Manza, equipped with a range of new features, hit the roads Sunday, an official said.

Competitively priced, Tata Manza would cost from Rs.5.14 lakh for the Safire petrol range and from Rs.5.91 lakh for the Quadrajet diesel range (both prices ex-showroom, Delhi). It would be available …. Source article  : Tata Motors unveils new Manza.

Illegal colonies in Gurgaon to be regularised

CHANDIGARH – The Haryana government is set to regularise illegal colonies in Gurgaon, a state minister said Sunday.

The decision to regularise the illegal colonies in Gurgaon will soon be taken by the Haryana government and almost all such colonies will be regularised, Haryanas Sports and Youth Affairs Minister Sukhbir Kataria said in Gurgaon.
Kataria …. Read the original article  : here.

4,733 Malaysians evacuated from Egypt

KUALA LUMPUR – Malaysia has evacuated 4,733 of its nationals from Egypt, which is facing political turmoil due to mass protests against President Hosni Mubarak.

Malaysians living in several Egyptian towns have been transported to Jeddah, Saudi Arabia.
The official news agency, Bernama, reported that besides the Royal Malaysian Air Force (RMAF), Malaysian Airlines and …. Original article on Gaea Times at  : 4,733 Malaysians evacuated from Egypt.