Business News – Newsletter for February 17, 2011
Thursday, February 17, 2011
Kerala offers freebies for diaspora to promote tourism
THIRUVANANTHAPURAM – The huge Kerala diaspora settled across the globe can get a free holiday to their hometown if they recommend tourists to visit the state.
Titled as “Bring Home a Friend”, the latest offering from Kerala Tourism was launched Wednesday night by Tourism Minister Kodiyeri Balakrishnan.
“Keralites living abroad have to first register with … Read : Kerala offers freebies for diaspora to promote tourism.
Personal computer market grows 26 percent
NEW DELHI – The rise in the commercial demand of desktops and notebooks has led to the personal computers (PC) market in India registering a 26 percent rise in sales during the quarter ended Dec 31. The sales went up to 24.9 lakh units from 19.7 lakh units during the same period of the corresponding … Read the original article on Gaea Times at : Personal computer market grows 26 percent.
Why prevent companies from mining now: CM Raman Singh (Interview)
RAIPUR – Chhattisgarh Chief Minister Raman Singh says setting up steel and coal-based power projects will provide employment to thousands of poor families and there is no point in preventing mining now when companies have already made progress.
“A number of big steel plants are coming up in the poverty-hit Bastar region in the south … Read this article on Gaea Times at : Why prevent companies from mining now: CM Raman Singh (Interview).
Government scraps ISRO’s spectrum deal with Devas (Third Lead)
NEW DELHI – The government Thursday scrapped the controversial deal between Antrix, the commercial arm of Indian space agency ISRO, and private firm Devas on the allocation of space spectrum using S-band, high value and scarce radio waves.
“The agreement for the lease of space segment capacity on Antrix S-Band spacecraft (satellite) by Devas Multimedia … Original article on : Government scraps ISRO’s spectrum deal with Devas (Third Lead).
Honda recalls 57,853 units of ‘City’ sedan
NEW DELHI – Japaneses automobile major Honda’s Indian subsidiary Honda Siel Cars India (HSCI) Thursday said it was recalling 57,853 units of its mid-sized sedan City in the country for replacing a faulty engine part.
According to the company, the preventive replacement measures have only been taken for the newer third-generation City cars manufactured …. Original article : Honda recalls 57,853 units of ‘City’ sedan.
Honda to recall more than half a million cars
TOKYO – Japan’s Honda Motor Co is to recall 525,614 vehicles, including 167,883 in Japan, over concerns about defective engine valves, the government said Thursday.
The recall affects two car models, the Fit and the Freed, it said, which were sold overseas including to the US, China and Thailand.
In Japan, the recall was to …. Original article on Gaea Times at : Honda to recall more than half a million cars.
Liquidity Adjustment Facility : Auction Results
The results of the RBI Repo/Reverse Repo auctions held on February 17, 2011 are:
Amount (face value in ` crore)
Item
1 day Reverse Repo Auction
(Sale of securities by RBI)
1 day Repo Auction
…. Source : Liquidity Adjustment Facility : Auction Results.
Government cancels ISRO-Devas deal
NEW DELHI – The government Thursday cancelled the deal between Antrix, the commercial arm of Indian space agency ISRO, and private company Devas on the allocation of S-band spectrum.
The decision was announced by union Law Minister M. Veerappa Moily following a meeting of the cabinet committee on security.
The government is prepared … Read more »»».
Liquidity Adjustment Facility : Auction Results
The results of the RBI Repo/Reverse Repo auctions held on February 17, 2011 are:
Amount (face value in ` crore)
Item
1 day Reverse Repo Auction
(Sale of securities by RBI)
1 day Repo Auction
… Read : Liquidity Adjustment Facility : Auction Results.
RBI Reference Rate for US $ and Euro
The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.38 and the Reference Rate for Euro is ` 61.60 on February 17, 2011. The corresponding rates for the previous day (February 15, 2011) were ` 45.45 and ` 61.43 respectively. Based on the Reference Rate for US … Read the original article on Gaea Times at : RBI Reference Rate for US $ and Euro.
Gujarat NRE Coke’s Australian subsidiary raises Rs.320 crore
MUMBAI – Gujarat NRE Coke Ltd Thursday said its Australian subsidiary has raised over Rs.320 crore through an institutional placement done by book building mechanism.
“The placement, which opened on Feb 16, closed on the same day. GNM (Gujarat NRE Coking Coke Ltd) raised (Australian) $72 million through the issue of 100 million fully [..] Read the original article: here.
Britain may go in for China’s high-speed bullet trains
BEIJING – Britain may either rent or buy high-speed bullet trains manufactured by a Chinese firm, an official said.
The high-speed bullet trains are produced by the CSR Corporation, China Daily Thursday quoted the 21st Century Business Herald as reporting.
Gao Hucheng, China’s international trade representative, said British Prime Minister David Cameron has showed willingness …. Source : Gaea News Network.
Food inflation falls to nine-week low
NEW DELHI – India’s annual food inflation dropped to 11.05 percent for the week ended Feb 5 — a nine-week low — as prices of essential items like pulses, and potatoes dropped, according to official data released Thursday.
The food inflation had dropped nearly four percentage points to 13.07 percent in the previous week.
… Read more : Food inflation falls to nine-week low.
Coke has no alcohol in it, says manufacturer
KUALA LUMPUR – Coca-Cola has no alcohol in it, said the firm’s manufacturer in Malaysia as it rubbished reports that the secret of the way it is prepared is out.
Coca-Cola Malaysia’s public affairs and communications director Kadri Taib said alcohol was not an ingredient and no fermentation took place during the manufacture of the …. Original article : Coke has no alcohol in it, says manufacturer.
Sensex up 122 points in noon trade
MUMBAI – A benchmark index for Indian equities markets Thursday was ruling 100 points higher a little after noon, having crept up after a weak morning session.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,345.12 points, rose to 18,423.04 points, up 122.14 points or 0.67 percent from its … Read more >>.
‘Cancer-stricken’ Apple boss Steve Jobs ‘may have just 6 weeks to live’
LONDON – A tabloid has claimed that Apple founder, Steve Jobs, is stricken with pancreatic cancer and may have just six weeks to live.
The National Enquirer has published new pictures of the man behind the iPod, iPhone and iPad suggesting that the things are worse than Apple would have the world believe.
The new photos show …. Source : ‘Cancer-stricken’ Apple boss Steve Jobs ‘may have just 6 weeks to live’.
Fog envelops Delhi, flights disrupted
NEW DELHI – Thick fog enveloped the capital Thursday morning, delaying scores of flights and leading to several being cancelled due to poor visibility conditions at the Indira Gandhi International (IGI) airport.
The minimum temperature recorded at 9.8 degrees Celsius, dipped one degree below the normal for this time of the season.
“About 10 …. Original article on Gaea Times at : Fog envelops Delhi, flights disrupted.
BlackBerry stock shoots up on Citigroup upgradation
TORONTO – Buoyed up by big gains by energy, financial and tech stocks Wednesday, the Toronto Stock Exchange (TSX) surged over 14,000 points for the first time since July 2008.
Among the major gainers was BlackBerry maker Research In Motion (RIM) which jumped 4.2 per cent to close at $67.25. There was a virtual rush …. Original article : BlackBerry stock shoots up on Citigroup upgradation.
Japanese shares up on US, European gains
TOKYO – Japanese stocks rose in Thursday morning trading as investors sentiment was boosted by overnight gains on the US and European markets.
The benchmark Nikkei 225 Stock Average added 41.28 points, or 0.38 percent, to trade at 10,849.57 while the broader Topix index was up 6.11 points, or 0.63 percent, at 973.41. …. Source : Japanese shares up on US, European gains.
Money Market Operations as on February 15, 2011
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