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It’s quiz time, folks!The results are out! Many of you did very well in the Auto Tech 101 quiz, and six people aced it with eleven correct answers. From those six, a lucky draw decided the winner. Source: Hindustan Times News Feeds 'Business' | 27 Aug 2009 | 7:26 am It’s quiz time, folks!It’s been a year since you enrolled in this class, and by now, you should know all the basics of car technology. Now it’s exam time. Source: Hindustan Times News Feeds 'Business' | 27 Aug 2009 | 7:22 am Same engine, different outputI received a question from a reader not too long ago, asking me why the R1 with its four-cylinder, naturally-aspirated 998cc engine develops about 160 bhp, while the petrol Logan, despite a 400 cc advantage, musters only 72 bhp. Source: Hindustan Times News Feeds 'Business' | 27 Aug 2009 | 7:17 am The ideal SUVDon’t lift your faith in General Motors just yetSource: Hindustan Times News Feeds 'Business' | 27 Aug 2009 | 7:12 am Query timeQHi Grease Monkey. I have completed my third year diploma in Automobile Engineering and want to get some practical knowledge about automobiles. Source: Hindustan Times News Feeds 'Business' | 27 Aug 2009 | 7:06 am Query timeQHi Grease Monkey. I have completed my third year diploma in Automobile Engineering and want to get some practical knowledge about automobiles. Source: Hindustan Times News Feeds 'Business' | 27 Aug 2009 | 7:01 am Fuelling your rideWant to improve your vehicle’s performance? Then you need to know more about the fuel you useSource: Hindustan Times News Feeds 'Business' | 27 Aug 2009 | 6:57 am Bharti offering $13.1 bn for 49% in MTN: SourcesSingTel is eying Bharti Airtel\'s global depository receipts (GDRs) to maintain stake in company, reports CNBCTV18 quoting Dow Jones sources. It has also been learnt that the BhartiMTN deal may be sealed in midSeptember. \"Bharti has offered the MTN Group USD 13.1 billion for 49% stake.\"Source: Moneycontrol Top Headlines | 27 Aug 2009 | 6:56 am The SUV of todayAre today’s SUVs actually worth their salt or meant only for the tarmac?Source: Hindustan Times News Feeds 'Business' | 27 Aug 2009 | 6:54 am Survival of the toughestFrom the Jeep to the Range Rover, here’s how SUVs have evolved over timeSource: Hindustan Times News Feeds 'Business' | 27 Aug 2009 | 6:51 am Keeping the heat outIn the peak of summer, here’s how your car stays coolSource: Hindustan Times News Feeds 'Business' | 27 Aug 2009 | 6:45 am No plans to raise ad rates as of now: Jagran PrakashanRK Agarwal, CFO, Jagran Prakashan, said he expects 15% growth in advertisement revenues in FY10. Jagran had increased its rates in March 2009 and currently would not look at another advertisement rate hike, he added.Source: Moneycontrol Top Headlines | 27 Aug 2009 | 6:36 am HT Media considers Hindi paper business demergerHT Media is considering demerging its Hindi paper business into a separate company, says its Chief Executive Officer, Rajiv Verma. The demerger will provide extra liquidity and better focus.Source: Moneycontrol Top Headlines | 27 Aug 2009 | 5:36 am Will sustain co\'s margins above 15%: Apollo TyresApollo Tyres will take measures to protect margins and it will sustain it above 15% said Neeraj Kanwar, Vice Chairman and Managing Director of the company. He said that rubber prices are up from Rs 8590 to nearly Rs 100 per kg.Source: Moneycontrol Top Headlines | 27 Aug 2009 | 5:12 am Exporters hail 'aggressive, long-term... - Moneycontrol.com
Source: Business - Google News | 27 Aug 2009 | 4:18 am 7 new IIMs on the anvil - Press Trust of India
Source: Business - Google News | 27 Aug 2009 | 4:07 am BSE Sensex provisionally rises 0.2 pctMUMBAI (Reuters) – The BSE Sensex provisionally rose 0.2 percent on Thursday, as investors covered short positions on the final day of monthly derivatives contracts.Source: Reuters: Money News | 27 Aug 2009 | 4:06 am Tata Steel posts consolidated June qtr lossMUMBAI (Reuters) - Tata Steel Ltd, the world's No.8 steelmaker by output, posted a consolidated June quarter loss as poor demand at its European unit Corus and lower steel prices weighed on earnings.Source: Reuters: Money News | 27 Aug 2009 | 4:02 am Pawar issue: I did no wrong by raisin... - Business Standard
Source: Business - Google News | 27 Aug 2009 | 4:01 am India seeks to reverse export decline in new trade policyIndia's new Foreign Trade Policy was unveiled Thursday with a mix of fiscal sops and procedural reforms in a bid to reverse 10 consecutive months of decline in merchandise exports and ensuring healthy growth of out-bound shipments.Source: IndiaeNews.com: Business News | 27 Aug 2009 | 4:00 am India to invest in Namibia's mining sectorIndia is to ink a memorandum of understanding (MoU) with Namibia for investing in its lucrative mining sector, it was announced here Thursday.Source: IndiaeNews.com: Business News | 27 Aug 2009 | 4:00 am India, Bangladesh to develop border infrastructureNew Delhi and Dhaka would develop infrastructure along the border and simplify trade barriers to boost business between Bangladesh and northeast India, officials said here Thursday.Source: IndiaeNews.com: Business News | 27 Aug 2009 | 4:00 am Fragile air traffic recovery under way: IataGeneva: A recovery in air traffic is under way, according to latest data from a global industry body, in another sign the world economy is clawing its way out of recession. But the recovery will be “volatile and weak”, the International Air Transport Association (Iata) said on Thursday, indicating the turbulence that has buffeted an industry facing another year of multi-billion dollar losses is not at an end. Airlines carried 11.3% less cargo and 2.9% fewer people in July than a year earlier, Iata said in its latest monthly reading of cross-border traffic, a leading indicator for the health of world trade. The figures represented an improvement from June, when the year-on-year declines were 16.5% for cargo and 7.2% for passengers. Air freight is a good leading indicator of world trade movements, since shippers tend to switch to air when speed is more important than cost -- at the start of an upturn -- and switch to ocean transport in a recession, Iata says. As a result, air freight is first into recession but usually is first out, it said in a recent analysis. So far this year, freight volumes have fallen 19.3% and air travel is down 6.8%, according to Iata, whose data exclude domestic flights. And compared with June and adjusted for seasonal factors, both freight and passenger travel grew by more than 3% in July, it said. “The data can be rather volatile but this does confirm earlier signs that a recovery in demand for air transport has begun, though there are good reasons for expecting the path of further recovery to be volatile and weaker than recoveries from previous recessions,” Iata said. Iata said there was a varied regional pattern, with passenger traffic in the Asia-Pacific remaining weak but improving, with a strong rebound in air freight reflecting recovery in several Asian economies. Airlines in Europe and North America are seeing less improvement in freight, but a stronger improvement in passenger volumes which could reflect earlier cuts in fares. Passenger capacity was more in line with demand in July, with passenger load factors averaging 80.3%, but excess capacity continued to emerge in the freight sector, it said. “Downward pressure on freight rates and revenues continues to increase,” said the Geneva-based body, which represents 230 carriers including British Airways, Cathay Pacific, Emirates and United Airlines. Iata has estimated airlines will lose $9 billion in 2009 after an $8.5 billion loss in 2008, when high oil prices hit profits and then the global credit and financial crisis slashed demand for business and leisure air travel. Iata estimated last year that $3.5 trillion of goods were transported by air in 2006, representing 35% of international trade. Source: World Business - Livemint.com | 27 Aug 2009 | 3:59 am INTERVIEW - Harley sees signs of recovery, to tread carefullyNEW DELHI (Reuters) - U.S. motorcycle maker Harley-Davidson Inc is optimistic about a recovery in the U.S. economy but would continue to tread carefully by adopting cost-saving measures, a senior official said on Thursday.Source: Reuters: Money News | 27 Aug 2009 | 3:58 am Hero Honda exec: sees sales crossing 4 mln units in FY10NEW DELHI (Reuters) - Hero Honda will cross sales of 4 million units in the fiscal year to March and will launch nine new models by then, a senior company official said on Thursday.Source: Reuters: Money News | 27 Aug 2009 | 3:48 am Brokerages being irrationally exuberant on IT: InfosysJust when many brokerages are in the process of rerating the IT sector and there is talk of recovery in the exportdependent, beleaguered Indian IT industry, Infosys says pricing pressures remain and customers are still struggling with their IT budgets.Source: Moneycontrol Top Headlines | 27 Aug 2009 | 3:46 am DEALTALK - Buyout firms queue up to go local in ChinaHONG KONG/SHANGHAI (Reuters) - Global buyout firms are racing to launch yuan-based funds in an effort to do deals more quickly and easily in China, where approvals for major foreign investments aren't easy to come by.Source: Reuters: Money News | 27 Aug 2009 | 3:43 am Cabinet approves 50% women’s quota in panchayatsNew Delhi: The Union Cabinet on Thursday approved a proposal to increase reservation for women to 50% in panchayats. The proposal, listed for consideration at the Cabinet meeting on Thursday, was approved, information and broadcasting minister Ambika Soni told reporters. The proposal aims to amend Article 243(d) of the Constitution, which provides for one-third reservation for women in panchayats, and increase the quota to 50%. President Pratibha Patil, in her address to the joint sitting of Parliament on 4 June, had said a Constitutional amendment would be brought in to provide 50% quota for women in panchayats and urban local bodies. She had said since women suffer multiple deprivations of class, caste and gender, enhancing reservation in panchayats and urban local bodies would lead to more women entering the public sphere. BJP-led NDA ruled states like Bihar, Uttarakhand, Himachal Pradesh and Madhya Pradesh took the lead and had already implemented 50% reservation for women in panchayati raj institutions. While Rajasthan has announced implementation of the proposal in the next panchayat election in 2010, Kerala has declared that it would implement it. Source: Home - Livemint.com | 27 Aug 2009 | 3:30 am Coal India to spend $1-1.5bn to acquire assets in four countriesNew Delhi: State-run Coal India today said it will buy mining assets in four countries — Australia, Indonesia, South Africa and the US — at an estimated investment of $1-1.5 billion, in a bid to expand its production capacity. “Coal India is looking to spend $1-1.5 billion in acquiring mining assets in Australia, Indonesia, South Africa, US with a annual production capacity of 10-15 millions tonnes,” Coal India chairman P S Bhattacharyya told reporters here. However, he did not divulge the time-frame of these buy outs. Asked about the rationale for demanding a hike in coal prices, he said, “It will happen because wage revision has been very substantial for both workers and executives. There is no sense in allowing the bottomline to shrink.” The company has been demanding a hike in coal prices, which, it says, are almost half the international prices. Coal India has a capital expenditure plan of Rs3,200 crore for this fiscal and aims to increase production by 7.5% to 435 million tonnes over the previous year. Source: LatestNews-Home - Livemint.com | 27 Aug 2009 | 3:29 am MTN H1 profit up, says no decision on... - Reuters India
Source: Business - Google News | 27 Aug 2009 | 3:24 am Obama admin expected to clear AIG chief’s pay package: ReportNew York: The Obama administration is expected to approve annual pay package of around $10.5 million for beleaguered insurance firm AIG’s chief Robert Benmosche by next week, says a media report. Attributing to people familiar with the matter, The Wall Street Journal said that the Obama administration’s pay czar is expected to formally approve the $10.5 million pay package for American International Group Inc’s new chief executive as early as next week. The report said that AIG had received “approval in principle” from Kenneth Feinberg, the Treasury Department’s special master for compensation, to pay AIG CEO Robert Benmosche an annual salary of $7 million and up to $3.5 million in incentives. But Benmosche wanted formal written assurance that his pay would be honoured and had been pushing for a speedy sign-off on his compensation, it added. The report noted that Feinberg is expected to approve Benmosche’s pay ahead of making any other rulings about pay at AIG or at any other companies under his purview. Feinberg is reviewing compensation packages for 25 highest-paid employees at AIG and six other firms which received significant amounts of government aid. Feinberg has two months to make his rulings on the pay packages. AIG had been pushing for a speedier ruling on Benmosche over concerns he might quit if the issue was not settled quickly, the report said. Earlier this month, citing a person close to Benmosche, the daily said the CEO was “ready to walk” if the pay issue was not resolved. Benmosche was pressing for a quick resolution in large part to energise AIG employees and show them that they could be well-compensated, the report said. A furore earlier this year over bonus payments made to some AIG employees demoralised some employees and prompted some to quit. Source: LatestNews-Home - Livemint.com | 27 Aug 2009 | 3:24 am Switzerland pays world’s highest wages; Mumbai lowestSingapore: It pays to work in Switzerland: employees in Zurich and Geneva have the highest net wages in the world, a study by banking group UBS shows, while those in Mumbai take home the lowest. The Swiss cities were also ranked among the top five most expensive in the world in the bank’s 2009 “Price and Earnings” international study. “With its extremely high gross wages and comparatively low tax rates, Switzerland is a very employee-friendly country,” the Swiss bank said in a statement. “No other city allows workers to take home more income at the end of the month than Zurich and Geneva.” The study, published every three years, compares the income and purchasing power of employees in 73 cities across the globe, highlighting wide discrepancies in wages between different regions, and even within the same country. The biggest gaps were found in Asia, the study said, with Tokyo ranking as one of the world’s five costliest cities while the capitals of developing countries such as Malaysia, the Philippines and India were all at the bottom of the price range. Oslo was this year’s most expensive city, based on a standardised basket of 122 goods and services, followed by Zurich, Copenhagen, Geneva, Tokyo and New York. When rents are factored in, however, New York rises to the top spot, the study said. This year, the bank said currency fluctuations caused by the global economic crisis affected the rankings of several cities, most notably London, which was the second most expensive city in 2006, but which fell nearly 20 places following the pound’s drop earlier this year. The analysis involved more than 30,000 data points, collected by several independent observers in each city, in March and April, the bank said. All amounts were converted into a single currency before being compared. The world’s cheapest places to live were Malaysia’s Kuala Lumpur, Manila in the Philippines, and Delhi and Mumbai. But the average employee in many of these cities, as well as Jakarta and Nairobi, gets paid some of the world’s lowest salaries which have between 11% and 15% of the purchasing power of a salary in Zurich. “An average wage-earner in Zurich and New York can buy an iPod nano from an Apple store after nine hours of work. At the other end of the spectrum, workers in Mumbai need to work 20 nine-hour days, roughly the equivalent of one month’s salary,” the study said. Working hours also varied in the cities surveyed, with the study finding that on average, people in Asian and Middle Eastern cities work much more than the global average of 1,902 hours per year. Overall, the most hours are worked in Cairo, followed by Seoul, while the least hours worked were in Lyon and Paris. Source: Home - Livemint.com | 27 Aug 2009 | 3:23 am Switzerland pays world’s highest wages; Mumbai lowestSingapore: It pays to work in Switzerland: employees in Zurich and Geneva have the highest net wages in the world, a study by banking group UBS shows, while those in Mumbai take home the lowest. The Swiss cities were also ranked among the top five most expensive in the world in the bank’s 2009 “Price and Earnings” international study. “With its extremely high gross wages and comparatively low tax rates, Switzerland is a very employee-friendly country,” the Swiss bank said in a statement. “No other city allows workers to take home more income at the end of the month than Zurich and Geneva.” The study, published every three years, compares the income and purchasing power of employees in 73 cities across the globe, highlighting wide discrepancies in wages between different regions, and even within the same country. The biggest gaps were found in Asia, the study said, with Tokyo ranking as one of the world’s five costliest cities while the capitals of developing countries such as Malaysia, the Philippines and India were all at the bottom of the price range. Oslo was this year’s most expensive city, based on a standardised basket of 122 goods and services, followed by Zurich, Copenhagen, Geneva, Tokyo and New York. When rents are factored in, however, New York rises to the top spot, the study said. This year, the bank said currency fluctuations caused by the global economic crisis affected the rankings of several cities, most notably London, which was the second most expensive city in 2006, but which fell nearly 20 places following the pound’s drop earlier this year. The analysis involved more than 30,000 data points, collected by several independent observers in each city, in March and April, the bank said. All amounts were converted into a single currency before being compared. The world’s cheapest places to live were Malaysia’s Kuala Lumpur, Manila in the Philippines, and Delhi and Mumbai. But the average employee in many of these cities, as well as Jakarta and Nairobi, gets paid some of the world’s lowest salaries which have between 11% and 15% of the purchasing power of a salary in Zurich. “An average wage-earner in Zurich and New York can buy an iPod nano from an Apple store after nine hours of work. At the other end of the spectrum, workers in Mumbai need to work 20 nine-hour days, roughly the equivalent of one month’s salary,” the study said. Working hours also varied in the cities surveyed, with the study finding that on average, people in Asian and Middle Eastern cities work much more than the global average of 1,902 hours per year. Overall, the most hours are worked in Cairo, followed by Seoul, while the least hours worked were in Lyon and Paris. Source: LatestNews-Home - Livemint.com | 27 Aug 2009 | 3:23 am Mint in Multimedia - 11 AugustVideo story: Skilled labour The government wants to train 150 million new workers for the job market, but trade unions have reservations. Mint’s Maitreyee Handiques tells us why Video story: The Mint Report Supreme Court dismisses compensation claim from Satyam shareholders; the government has a plan to train 150 million people for jobs of the future Video story: Warning signs Mint’s Jacob Koshy says the poor monsoon forecast means the government has to start rolling out programmes to mitigate the effects of a drought. Source: LatestNews-Home - Livemint.com | 27 Aug 2009 | 3:18 am Harley Davidson set to begin India chapterChicago: The US cult bike Harley Davidson is literally counting down to begin “a new chapter” with “a billion dreams” in India. A clock on the Harley Davidson-India website is counting down hours, minutes and seconds for the “adventure” to begin and a message tells the iconic motorcycle’s Indian fans that they can soon get a “genuine Harley Davidson experience in India”. Harley Davidson’s much-awaited “journey” in India is less than a day away. However, details regarding the models and price range of the bikes were not available on the website. “Tomorrow is a new dawn. A new chapter in the 107-year history of the company and the birth of the genuine Harley Davidson experience in India. A billion dreams find voice in this glorious land as India fulfills its destiny as a 21st century powerhouse. “At the heart of Harley Davidson is the promise to inspire and fulfill dreams, to free the spirit. Our paths were destined to cross,” the message reads and tells India to watch the space for more developments. Back in 2007, it had been suggested that India trade off mangoes from its orchards to the US to get the Harley Davidson bike on its roads. Source: Home - Livemint.com | 27 Aug 2009 | 3:14 am POSCO denies rumours of shifting proj... - Indian Express
Source: Business - Google News | 27 Aug 2009 | 3:02 am NaqaTube is Saudi answer to YouTubeDubai: Sick and tired of profanities and explicit nature of some video clips on YouTube, a group of Saudis have developed a “clean” alternative called NaqaTube (Naqa being the Arabic word for ‘pure’). The aim, as they put it, is to prevent the youth from watching sexually explicit video clips online, an Arab News report quoted a moderator of the website as saying. With millions of youth logging into YouTube each day, the group launched NaqaTube, which is simply an amalgamation of “clean” clips from YouTube. Abu Ibraheem, one of the moderators of the website, said that clips on NaqaTube are religiously safe and often edited prior to being uploaded. The website’s logo is “Participate With Us In a Clean Website”. The site also censors clips that are against the government, individuals and scholars, or which mock people in general, the report said. Women’s images are totally forbidden, along with music. “Our dream is to decline the number of visitors to YouTube. Our website has received from 5,000 to 6,000 visitors since its launch two months ago,” Ibraheem said. Much of the material on the site is religiously inclined and the site’s front page displays links and screenshots to over 10 channels mainly featuring scholars, preachers, children and other Islamic-related material. The site also hosts clips of scholars from the Arab world delivering lectures and Islamic discourse. “We are promoting a moderate Islam, nothing extreme,” he said. Source: LatestNews-Home - Livemint.com | 27 Aug 2009 | 2:59 am NaqaTube is Saudi answer to YouTubeDubai: Sick and tired of profanities and explicit nature of some video clips on YouTube, a group of Saudis have developed a “clean” alternative called NaqaTube (Naqa being the Arabic word for ‘pure’). The aim, as they put it, is to prevent the youth from watching sexually explicit video clips online, an Arab News report quoted a moderator of the website as saying. With millions of youth logging into YouTube each day, the group launched NaqaTube, which is simply an amalgamation of “clean” clips from YouTube. Abu Ibraheem, one of the moderators of the website, said that clips on NaqaTube are religiously safe and often edited prior to being uploaded. The website’s logo is “Participate With Us In a Clean Website”. The site also censors clips that are against the government, individuals and scholars, or which mock people in general, the report said. Women’s images are totally forbidden, along with music. “Our dream is to decline the number of visitors to YouTube. Our website has received from 5,000 to 6,000 visitors since its launch two months ago,” Ibraheem said. Much of the material on the site is religiously inclined and the site’s front page displays links and screenshots to over 10 channels mainly featuring scholars, preachers, children and other Islamic-related material. The site also hosts clips of scholars from the Arab world delivering lectures and Islamic discourse. “We are promoting a moderate Islam, nothing extreme,” he said. Source: Tech News - Livemint.com | 27 Aug 2009 | 2:59 am WL Ross picks up 18.4 lakh ADRs of Mahindra SatyamBillionaire investor Mr Wilbur Ross, who was once in the running to acquire a controlling stake in the erstwhile Satyam Computer Services, is still interested in the Hyderabadbased company from an investment perspective.Source: Moneycontrol Top Headlines | 27 Aug 2009 | 2:58 am Nissan, Chrysler scrap vehicle supply dealTokyo: Japan’s Nissan Motor and Chrysler of the United States have scrapped a plan to supply vehicles to each other because of the ongoing turmoil in the industry, the two companies said. Nissan had announced last year it would provide to Chrysler a compact sedan for the South American market beginning this year and a small vehicle for global markets from 2010. Chrysler, which has since partnered with Italy’s Fiat as part of its bankruptcy plan, had been due to supply a pickup truck to Nissan from 2011. But the two companies decided to end the project “in light of significant changes in business conditions since the projects were announced,” according to a joint statement released late on Wednesday. The move comes after Chrysler and Fiat sealed a deal in June to create a new auto giant after the Italian maker stepped in to salvage the bankrupt US firm. Fiat will at first hold 20% of Chrysler Group, with its equity stake rising to 35% and eventually to a majority stake as long as certain targets are achieved and US government funds are repaid. Nissan, Japan’s third largest automaker, is 44% owned by France’s Renault. The Japanese maker is axing 20,000 jobs in an effort to recover from its first annual loss in almost a decade. Source: LatestNews-Home - Livemint.com | 27 Aug 2009 | 2:57 am Eco showing positive signs but export... - Moneycontrol.com
Source: Business - Google News | 27 Aug 2009 | 2:56 am Alstom plans metro rail coach facility in Sri CityFrench transportation major Alstom is planning to set up a metro rail coach factory near Chennai.Source: Moneycontrol Top Headlines | 27 Aug 2009 | 2:53 am GE wins $2.64bn Kuwait power plant dealKuwait City: Kuwait’s Ministry of Electricity and Water says it has selected US giant General Electric Co. to build a new 760 million dinar ($2.64 billion) electrical power plant. Ministry spokesman Mishaan al-Otaibi said on Thursday that the Fairfield, Connecticut-based company’s bid was the lowest submitted by a number of pre-qualified companies, including Germany’s Siemens. Kuwait’s financial watchdog, the Audit Bureau, still needs to approve the ministry’s choice. Al-Otaibi says the 2,000 megawatt facility in Subbiya, across Kuwait Bay from the capital, will raise this small oil-rich state’s electrical power generation capacity to 14,000 megawatts. It will be fueled by natural gas. Kuwait has 6 power stations, but suffers occasional shortages due to growing demand for air conditioning in the scorching summers. Source: LatestNews-Home - Livemint.com | 27 Aug 2009 | 2:53 am Japan opposition could oust 50-yr rule of LDP: mediaTokyo: Japan’s main opposition Democratic Party looks set to win an election on Sunday by a huge margin and could even secure a two-thirds majority in parliament’s powerful lower house, a newspaper survey showed on Thursday. An opposition victory would end more than 50 years of almost unbroken rule by the conservative Liberal Democratic Party (LDP) and break a policy deadlock caused by a divided parliament, where the opposition controls the upper house and can delay bills. Yukio Hatoyama’s Democrats have promised to focus spending on households, cut waste and wrest control of policy from the hands of bureaucrats. But their pledge to keep the sales tax at its current 5% for the next four years has raised concerns about further inflating Japan’s already huge public debt. Previous surveys have already shown the Democrats are on track for a runaway win over Prime Minister Taro Aso’s LDP, which has ruled the country for all but 10 months since its founding in 1955, but the Asahi newspaper said that an even bigger victory was within sight. A two-thirds majority in the lower house would allow the chamber to enact bills rejected by the upper house. That is unlikely to be an immediate necessity for the Democrats, since they and small allies control the upper house now, but it would allow them to push through laws even if the LDP and its partner win an upper house election set for mid-2010. Analysts have cautioned that much of the trend is due to anger at the LDP over scandals, policy flip-flops and a perceived inability to solve the deep problems of Japan’s fast-ageing society rather than enthusiasm for the decade-old Democrats. “Rather than supporting the Democrats because they think their policies are good, the biggest factor is the negative evaluation of the LDP’s performance, ” said Kazuhisa Kawakami, a political science professor at Meiji Gakuin University. Investors in Japan’s stock market would generally welcome an end to the parliamentary deadlock, but share prices may already have factored in a Democratic Party win. The Asahi said some 30-40% of voters had not revealed their preference so the results could alter, and analysts have said forecasts of a landslide could scare away some voters. But analysts said the tide was unlikely to turn in the LDP’s favour at this late stage. “It is not a situation where undecided voters would rush to vote for the LDP, as they still have negative feelings about Mr. Aso and the party. The LDP has yet to send out a message that could revive itself,” Kawakami said. Democratic Party leaders have warned against complacency, and party leader Hatoyama - now looking likely to be Japan’s next prime minister - sought to reassure voters that the party would not abuse its power if it wins big. “If we take power, we will of course create a government that takes account of your feelings. We won’t forcibly decide things using the law of numbers, so please don’t worry,” Hatoyama said in a campaign speech in western Japan on Wednesday. Struggling Prime Minister Aso, who has attacked the Democrats as weak on security and fuzzy on how to fund its spending programmes, sought to highlight the risk of change. “Politics is not gambling,” he told a crowd this week. Source: LatestNews-Home - Livemint.com | 27 Aug 2009 | 2:52 am Nagarjuna Construction bags Rs 311-cr... - Hindu Business Line
Source: Business - Google News | 27 Aug 2009 | 2:49 am ICICI Bank for doubling returns; to b... - Business Standard
Source: Business - Google News | 27 Aug 2009 | 2:48 am McNally gets Rs179.27 cr orders from HindalcoMumbai: McNally Bharat Engineering Company Thursday said it has got two orders worth Rs179.27 crore from Hindalco Industries for construction related works. The engineering firm has won two orders worth Rs86.66 crore and Rs92.61 crore, aggregating to Rs179.27 crore, for civil and structural works from Hindalco Industries, McNally Bharat said in a filing to the Bombay Stock Exchange. The first order valued at Rs86.66 crore is for designing, engineering, suppling, testing and commissioning, at Green Anode Plant of Aditya Alumina Project, Orissa, the filing added. The Rs92.61-crore order is for Green Anode Plant of Mahan Alumina Project at Madhya Pradesh, it said. Shares of McNally Bharat Engineering Company were trading at Rs205.25 on the BSE, up 2.32% from previous close. Source: LatestNews-Home - Livemint.com | 27 Aug 2009 | 2:47 am McNally gets Rs179.27 cr orders from HindalcoMumbai: McNally Bharat Engineering Company Thursday said it has got two orders worth Rs179.27 crore from Hindalco Industries for construction related works. The engineering firm has won two orders worth Rs86.66 crore and Rs92.61 crore, aggregating to Rs179.27 crore, for civil and structural works from Hindalco Industries, McNally Bharat said in a filing to the Bombay Stock Exchange. The first order valued at Rs86.66 crore is for designing, engineering, suppling, testing and commissioning, at Green Anode Plant of Aditya Alumina Project, Orissa, the filing added. The Rs92.61-crore order is for Green Anode Plant of Mahan Alumina Project at Madhya Pradesh, it said. Shares of McNally Bharat Engineering Company were trading at Rs205.25 on the BSE, up 2.32% from previous close. Source: Home - Livemint.com | 27 Aug 2009 | 2:47 am Maruti exec: double digit pct sales growth in AugNEW DELHI (Reuters) - Maruti Suzuki has seen "double-digit" percentage growth in August sales and has not seen any impact so far due to drought in the country, its sales chief said on Thursday.Source: Reuters: Money News | 27 Aug 2009 | 2:37 am Indian PC market grows 5.2% in Q2Bangalore: The overall India PC market grew 5.2% during April-June quarter of 2009 to touch 1.765 million shipments over the previous quarter, according to IT research firm IDC India. For the same period (2Q 2009 over 1Q 2009) desktop PC shipments rose 4.4%, while notebook PC shipments grew by 7.2%, the company said. In the overall PC (Notebooks and Desktops combined) market, HP retained the top spot with a market share of 17.8%, followed by HCL and Dell. HP retained the top position in terms of desktop PC shipments with 12.7 market share, followed by HCL and Acer in second and third spots in 2Q CY2009. In notebook PC shipments, HP retained top spot with 30.9% market share in 2Q 2009; Dell retained second spot while Acer came in at third. According to Kapil Dev Singh, country manager, IDC India, “The India PC market performance in 2Q CY2009 has shown what may be termed as early signs of a revival, as the decline in overall PC shipments year-on-year reduced from a high of 22.7% (4Q 2008 versus 4Q 2007) to 15.3% in the current quarter (2Q 2009 versus 2Q 2008).” “Demand was buoyant during this quarter on account of a higher offtake by the consumer and education segments”, he said. In terms of horizontal segments, while the SME segment responded positively during the quarter (2Q 2008), the large and very large enterprise segments are still waiting for cues of a sustained global economic recovery. As expected, IDC India said in a statement, the recently concluded general elections proved to be a distraction from the Government sector spending on PCs. However, with the new Central government settling down and the festive season starting earlier than usual this year, the coming quarter (3Q 2009) presents an opportunity for vendors to spruce up their shipments performance, it said. In the emerging segment of mini notebook PCs, enjoying a newfound liking among home users, shipments doubled quarter-on-quarter (2Q 2009 over 1Q 2009). According to Sumanta Mukherjee, lead PC analyst, IDC India “The Mini Notebook PC segment saw emergence of new entrants like BenQ and Samsung, while existing players like Acer, Asus, and Lenovo moved to consolidate their positions.” “With more vendors slated to enter this space and with the launch of Microsoft’s Windows 7 OS lined up for October 2009, the India Mini Notebook PC space could see a lot more traction in the forthcoming quarters”. Source: LatestNews-Home - Livemint.com | 27 Aug 2009 | 2:35 am Indian PC market grows 5.2% in Q2Bangalore: The overall India PC market grew 5.2% during April-June quarter of 2009 to touch 1.765 million shipments over the previous quarter, according to IT research firm IDC India. For the same period (2Q 2009 over 1Q 2009) desktop PC shipments rose 4.4%, while notebook PC shipments grew by 7.2%, the company said. In the overall PC (Notebooks and Desktops combined) market, HP retained the top spot with a market share of 17.8%, followed by HCL and Dell. HP retained the top position in terms of desktop PC shipments with 12.7 market share, followed by HCL and Acer in second and third spots in 2Q CY2009. In notebook PC shipments, HP retained top spot with 30.9% market share in 2Q 2009; Dell retained second spot while Acer came in at third. According to Kapil Dev Singh, country manager, IDC India, “The India PC market performance in 2Q CY2009 has shown what may be termed as early signs of a revival, as the decline in overall PC shipments year-on-year reduced from a high of 22.7% (4Q 2008 versus 4Q 2007) to 15.3% in the current quarter (2Q 2009 versus 2Q 2008).” “Demand was buoyant during this quarter on account of a higher offtake by the consumer and education segments”, he said. In terms of horizontal segments, while the SME segment responded positively during the quarter (2Q 2008), the large and very large enterprise segments are still waiting for cues of a sustained global economic recovery. As expected, IDC India said in a statement, the recently concluded general elections proved to be a distraction from the Government sector spending on PCs. However, with the new Central government settling down and the festive season starting earlier than usual this year, the coming quarter (3Q 2009) presents an opportunity for vendors to spruce up their shipments performance, it said. In the emerging segment of mini notebook PCs, enjoying a newfound liking among home users, shipments doubled quarter-on-quarter (2Q 2009 over 1Q 2009). According to Sumanta Mukherjee, lead PC analyst, IDC India “The Mini Notebook PC segment saw emergence of new entrants like BenQ and Samsung, while existing players like Acer, Asus, and Lenovo moved to consolidate their positions.” “With more vendors slated to enter this space and with the launch of Microsoft’s Windows 7 OS lined up for October 2009, the India Mini Notebook PC space could see a lot more traction in the forthcoming quarters”. Source: Tech News - Livemint.com | 27 Aug 2009 | 2:35 am POSCO denies reports of moving out of OrissaSouth Korean steel giant POSCO has denied reports that it is shifting out of Orissa. President of POSCO said he expects the construction of the company\'s steel plant to begin early next year.Source: Moneycontrol Top Headlines | 27 Aug 2009 | 2:34 am Punjab to spend Rs.325 crore on national highways upgradeTo improve its road network, the Punjab government will spend Rs.325 crore this fiscal on upgrading at least 250 km of national highways passing through the state, the government said Thursday.Source: IndiaeNews.com: Business News | 27 Aug 2009 | 2:33 am Rupee off 1-½ month lows as stocks riseMumbai: The Indian rupee edged higher in afternoon trade on Thursday, recovering from a one-and-half-month low touched in early trade, helped by gains in the domestic sharemarket. At 1:05pm, the partially convertible rupee INR was at Rs48.85/86 per dollar, off an early low of Rs49.05, its weakest since 13 July and stronger than its previous close of Rs48.93/94. Dealers said some month-end dollar demand was seen limiting the rise in rupee. India imports nearly two-thirds of its oil needs, and refiners are the largest buyers of dollars in the local market. Demand for dollars usually tends to be higher at month-end when importers make payments. Local shares were trading up 0.5% on short-covering ahead of the monthly derivatives contract expiry. Shares had fallen as much as 0.5 percent earlier. One-month non-deliverable forward contracts PNDF were quoted at Rs48.87/97, weaker than the onshore spot rate. In the currency futures market, the most traded near-month contract on the National Stock Exchange and MCX-SX were both quoting at Rs48.9875 each, with the total traded volume on the two exchanges at about $1.4 billion. Source: Home - Livemint.com | 27 Aug 2009 | 2:33 am NRI deposits in Kerala banks continue to growDeposits by non-resident Indians (NRIs) in Kerala banks grew marginally from Rs.37,019 crore in March 2009 to Rs.37,983 crore as on June 30.Source: IndiaeNews.com: Business News | 27 Aug 2009 | 2:30 am India could grow at more than 8 pct in FY11 - MukherjeeNEW DELHI (Reuters) - India's economy could possibly grow at more than 8 percent in fiscal year 2010/11, Finance Minister Pranab Mukherjee said on Thursday.Source: Reuters: Money News | 27 Aug 2009 | 2:25 am MTN H1 profit up, says no decision on Bharti dealJOHANNESBURG (Reuters) - South Africa's MTN Group reiterated that no decision had been taken with regard to its proposed merger with India's Bharti Airtel on Thursday after posting a rise in first-half headline profit.Source: Reuters: Money News | 27 Aug 2009 | 2:22 am Nifty hovers around 4700; Bharti, RIL... - Moneycontrol.com
Source: Business - Google News | 27 Aug 2009 | 2:16 am Harley-Davidson to sell bikes in Indi... - Reuters India
Source: Business - Google News | 27 Aug 2009 | 1:59 am Govt unveils steps to reverse export declineNew Delhi: The government plans to cut transaction costs for exporters and ensure the availability of dollar finance as it looks to reverse a decline in exports and double outbound sales of goods and services over the next five years. Union commerce and industry minister Anand Sharma, who reiterated India’s commitment to a successful end to the Doha round of World Trade Organization talks, said on Thursday he expects exports to reach $200 billion in the fiscal year ending March 2011. India’s exports were $168.7 billion in 2008-09, but have been have been falling in annual terms since October as the global credit squeeze followed by recession in developed nations sapped demand. Exports were down 31.3% in the quarter that ended in 30 June from a year earlier. Outlining a trade policy for the five years ending March 2014, the minister said he expected exports of goods and services to double. “We would like to achieve an annual export growth of 15% over 2010-11 with an annual export target of $200 billion by March 2011,” Sharma said. “In the remaining three years of this foreign trade policy up to 2014, the country should be able to come back on the high export growth path of around 25% per annum,” he said, adding that the government’s focus would be on export sectors with high employment. Since October, as the global downturn hit India harder than expected, the central bank has slashed interest rates and government offered tax breaks and interest subsidies to lift exports and prevent massive job losses. Sharma said India would extend a tax refund scheme to December 2010 and extend other tax incentives for exporters to the end of 2010-11. Exports grew at a rate of more than 20% annually between the 2004-05 and 2007-08 fiscal years, helping the economy post robust growth before the global downturn. Exports contribute 17% to India’s gross domestic product, smaller than many other Asian nations. The Doha round of world trade talks, launched in the Qatari capital in 2001, has made halting progress as WTO members squabble over calls to cut tariffs and subsidies to boost commerce in food, goods and services. Source: Home - Livemint.com | 27 Aug 2009 | 1:51 am Exporters happy with trade policyNew Delhi: After months of clamouring for help, exporters today said they are happy with the Foreign Trade Policy that has offered them, among others, subsidised credit and help to diversify to new markets. “It is a very realistic trade policy. I think new products (and) new countries have been best thought out... in a very innovative Foreign Trade Policy,” CII director general Chandrajit Banerjee said on the five-year policy unveiled by Commerce and Industry minister Anand Sharma today. “It is a welcome policy. He (Sharma) has given us free dollar credit, extended interest subvention scheme and enhancement in focus product scheme and focus market scheme. The new markets that have been identified will help exporters,” export body FIEO President A Sakthivel said. India extended tax holiday for one more year and announced continuing the duty refund scheme till December 2010 for exporters, while allowing duty free capital goods import under FTP to insulate them from protectionism induced by recession abroad. The country set a target of $200 billion worth exports for next fiscal, a feat that it failed to achieve in 2008-09 due to a slump in global demand in the face of financial crisis. Source: Home - Livemint.com | 27 Aug 2009 | 1:37 am Govt unveils steps to reverse export declineNEW DELHI (Reuters) - India plans to cut transaction costs for exporters and ensure the availability of dollar finance as it looks to reverse a decline in exports and double outbound sales of goods and services over the next five years.Source: Reuters: Money News | 27 Aug 2009 | 1:31 am Highlights of India's new Foreign Trade PolicyFollowing are the highlights of the new Foreign Trade Policy that was unveiled by Commerce Minister Anand Sharma here Thursday:Source: IndiaeNews.com: Business News | 27 Aug 2009 | 1:31 am Art market looking up - India Art Summit proves itAfter a year that saw a price drop of at least 30 percent across all segments of modern and contemporary art and a purge of inferior products, the Indian art market is looking up again, say organisers of the India Art Summit 2009 in a post-fair review.Source: IndiaeNews.com: Business News | 27 Aug 2009 | 1:31 am India remains committed to Doha trade talks: MinisterAhead of playing host to a mini-ministerial meet of the World Trade Organisation (WTO) here, India's Commerce Minister Anand Sharma said the country remained committed to the successful conclusion of the Doha round of talks.Source: IndiaeNews.com: Business News | 27 Aug 2009 | 1:31 am Sensex crawls into green after weak openingA key index of Indian equities markets that opened lower on weak global cues climbed back into the green a little after noon Thursday.Source: IndiaeNews.com: Business News | 27 Aug 2009 | 1:30 am Indian firms raised over $2 bn from overseas in JulyIndian firms raised over $2 billion through external commercial borrowings in July to fund various programmes, including overseas acquisitions and for importing capital goods, the Reserve Bank of India has said.Source: IndiaeNews.com: Business News | 27 Aug 2009 | 1:03 am Olympics-IOC gives assurances on 2010 Games budgetVancouver: The International Olympic Committee has assured organizers of next year’s Winter Olympics in Vancouver it will help with a potential budget gap caused by the global recession, officials said on Wednesday. Canadian organizers have warned they face a significant budget shortfall because of the worldwide economic downturn. Among the most pressing issues is a potential C$30 million ($27 million) revenue shortfall because the IOC has only been able to sign up nine of the 11 worldwide corporate sponsors expected when Vancouver’s C$1.7 billion operating budget was prepared. Specifics of the IOC’s offer were not released, but Vancouver Organizing Committee (VANOC) officials said it gave them the assurance they needed with the opening of the Games in the Western Canadian city now less than six months away. “With the commitment the IOC has made to us and the contingency we had in our budget I am now extremely confident we will achieve our targets,” Dave Cobb, VANOC’s executive vice-president said following meetings with IOC officials. The IOC panel that is overseeing preparations for the Games was in Vancouver for its final visit before the competitions begin, and its leader lavished praise on VANOC’s readiness for the event. “I really feel confident we will have a fantastic Games,” panel chairman Rene Fasel told a news conference. Both VANOC and the IOC downplayed suggestions that the issue of corporate sponsorship had caused a rift between the two groups. Canadian organizers had vowed the Games would have a balanced budget, but they have found themselves struggling with the impact of the economic downturn. VANOC was able to meet its target for domestic corporate sponsorship revenue, but has abandoned predictions made before the recession that it would be able to exceed its nearly C$760 million goal. Local organizing committees get a percentage of the revenues raised by the IOC from international sponsors, and there have been suggestions the shortfall would be replaced by giving VANOC more money from international broadcast fees. VANOC’s Cobb said the IOC did not promise to replace the entire shortfall, and said it could end up being less than C$30 million if new sponsors are signed before the Games begin in February. The threat of a revenue shortfall has also forced VANOC to look at cost-cutting. Chief executive John Furlong said organizers have received a good response to requests to local employers to lend them up to 1,500 short-term employees who will be needed in the weeks leading up and during the Games. Source: Tech News - Livemint.com | 27 Aug 2009 | 1:01 am Watch/Listen - Mint in Multimedia: 27 AugustVideo story: Hunt for gas Utpal Bhaskar says NTPC is talking to firms such as OGNC and OIL because it believes it needs to be present across the value chain in India’s energy market. Audio story: KM Birla exits entertainment business listen to former CEO of PVR Pictures and Mint columnist Ashish Saxena talk about the shut down of Applause Entertainment and the challenges faced by the entertainment industry as a whole Video story: World Dance Festival Brazilian dancers and Kathak legend Uma Sharma performed on Tuesday at a preview of the world dance festival. Slideshow: Old is gold as brands tap into heyday ads There’s 1990s pin-up girl Lisa Ray swirling in swathes of vivid floral patterns in the original iconic ad for Garden sarees, and there’s funny man Javed Jaffrey and side-kick Rakesh Bedi with their “It’s different!” campaign for Nestle’s Maggi Hot and Sweet Tomato Chilli Sauce Video story: Mint report United stock exchange talks to financial investors; commerce minister to present Foreign Trade policy; advertisers go back in time to bring in customers Slideshow: How green is your pool? Conventional swimming pools are clean but reek of chlorine. The local pond brims with life but there may be buffaloes bathing with you, not to mention parasites and bacteria. To get the best of both worlds, build your own natural pool--literally green, ecologically clean Source: Home - Livemint.com | 27 Aug 2009 | 12:28 am 10.74 lakh retail applicants get NHPC sharesOf the 13.02 lakh retail applicants who had applied for the big ticket Rs 6,000-crore NHPC (National Hydroelectric Power Corporation) public issue of 168 crore shares, 10.74 lakh have been allotted shares.Source: Business Line - Home Page | 27 Aug 2009 | 12:00 am Wholesale prices fall 0.95%; food still costlyNew Delhi, Aug. 26 The annual Wholesale Price Index-based inflation fell 0.95 per cent during the week ended August 15 compared with the 1.53 per cent slide recorded in the previous week, the Ministry of Commerce and Industry said here onSource: Business Line - Home Page | 27 Aug 2009 | 12:00 am Alstom plans metro rail coach facility in Sri CityChennai, Aug. 26 French transportation major Alstom is planning to set up a metro rail coach factory near Chennai.Source: Business Line - Home Page | 27 Aug 2009 | 12:00 am IT players eye big bucks from Govt projectsAfter a slugfest for business in the US and Europe, Indian IT vendors are now rolling up their sleeves for the next skirmish — in the domestic market.Source: Business Line - Home Page | 27 Aug 2009 | 12:00 am Relief measures likely for exporters in Foreign Trade PolicyNew Delhi, Aug. 26 Even as the Commerce Ministry is set to unveil its medium-term Foreign Trade Policy (FTP) for 2009-14 here on Thursday in the face of gloomy global trade situation, the policy would have more to do with overcoming short-termSource: Business Line - Home Page | 27 Aug 2009 | 12:00 am Airport development fee at Delhi, Mumbai legal, says CourtNew Delhi, Aug. 26 The Delhi High Court has held that the Airport Development Fee (ADF) being charged at Delhi and Mumbai airports is legal.Source: Business Line - Home Page | 27 Aug 2009 | 12:00 am Air India chief warns of lay-offs, if crisis continuesMumbai, Aug. 26 The Chairman and Managing Director of Air India, Mr Arvind Jadhav, for the first time, warned employees of “lay-offs and retrenchment” if the crisis at the airlineSource: Business Line - Home Page | 27 Aug 2009 | 12:00 am Mills in North contract raw sugar for imports at $520/tNew Delhi, Aug. 26 Indian mills, primarily those in the North, are said to have contracted 4-5 lakh tonnes (lt) of imported raw sugar within the last couple of weeks at prices ranging from $510 to $520 a tonne, cost & freightSource: Business Line - Home Page | 27 Aug 2009 | 12:00 am Alok Industries (Rs 21.8): BuyInvestors with a short-term perspective can buy Alok Industries. The stock underwent a steep correction in June and July when it plunged from Rs 29 to Rs 15. Things are looking up since then and the stock is in a short-term uptrend since July 13.Source: Business Line - Home Page | 27 Aug 2009 | 12:00 am TCS, Infosys, Wipro win a slice of BP outsourcing dealBangalore, Aug. 26 In one of the largest deals of recent times, the top-three Indian vendors TCS, Infosys and Wipro along with global giants IBM Corp and Accenture have bagged a slice of the $1.5-billion, five-year IT outsourcing contract fromSource: Business Line - Home Page | 27 Aug 2009 | 12:00 am Morning: Markets turn positive after falling 0.5%Mumbai: Indian shares erased losses of as much as 0.5% and turned positive on Thursday morning as investors covered short positions ahead of the expiry of monthly derivatives contracts. At 10:55am, the 30-share BSE index was flat at 15,768.77 points, with 16 stocks gaining, after falling to as much as 15,685.49 earlier. The 50-share NSE index was flat at 4,679.95. Snapping a five-session winning streak, the Bombay Stock Exchange benchmark Sensex plunged by 84 points in opening trade on emergence of profit-booking at higher levels amid weak Asian markets. The 30-share index, Sensex, which had gained nearly 960 points in the past five straight sessions, fell by 84.36 points at 15,685.49, or 0.80%, as stocks of realty, metals and auto came under some pressure. Similarly, the Nifty index on the wide-based National Stock Exchange lost 35.70 points,or 0.29 per cent to 4,645.15. Emergence of profit-booking by funds as well as retail investors mainly led to the decline in stock prices, brokers said. Squaring-up of positions by market participants, as today being the last session of monthly expiry in the derivatives segment also put some pressure on the trading sentiment. Trading sentiment also turned weak as growth of six core infrastructure industries eased to 1.8% in July, the lowest this fiscal. Major losers were DLF Ltd which was down 0.60% to Rs396.65, Tata Steel 1.33% to Rs 453.95, Hindalco 1.17% to Rs 105.90, MSI 0.98% to Rs1,391.30, Tata Motors 1.88% to Rs489.30, Reliance Industries 0.91% to Rs2,021 and Reliance Infra by 1.02% to Rs1,135.25. The Japan’s Nikkei was down up to 2%, while Hong Kong’s Hang Seng index shed 0.50% in morning trade today. Source: Home - Livemint.com | 26 Aug 2009 | 11:40 pm Posco to start work on delayed Orissa plant in 2010Bhubaneswar: South Korean steelmaker Posco will start construction early next year of a $12 billion project that has been delayed by farmers’ protests, the company president said. The plant in Orissa state, touted as India’s biggest foreign direct investment, has been delayed by more than two years due to protests by farmers who fear losing their livelihood. The company, which had hoped to begin construction in April last year, now expects to complete land acquisition by the end of 2009, clearing the way to start construction next year. “We almost solved problems already. We will start our construction very soon ... from early next year we will start our land levelling work,” Lee Dong-hee, Posco’s president and chief investment officer said on Wednesday. He dismissed media reports that the company planned to relocate the project from the planned site near the Paradip port. “We have never changed our plan,” Lee said, after meeting the state chief minister Naveen Patnaik and senior government officials at the capital city Bhubaneswar. Posco had signed a memorandum of understanding with Orissa state in June 2005 for the 12-million-tonne-capacity steel plant to be built in three phases by 2016, with production scheduled to begin by the end of 2011 at the completion of the first phase. With the grant of the mining lease delayed due to litigation, Lee said the company would start construction of the steel plant first. The company requires 20 million tonnes of iron ore per year over 30 years for steel production at full capacity. The world’s no.4 steel maker requires about 4,000 acres (1,620 hectares) of land, of which a large part is forested. Activists have said the construction will force villagers off farmland and displace about 20,000 people. Posco and the state have said the plant, in the Jagatsinghpur district of the mineral-rich state, will create jobs in an impoverished part of the country, but villagers had refused to hand over land and staged frequent protests. The supreme court last August allowed the company use of tracts of forest land, but the protests have continued, reflecting a larger standoff between industry and farmers unwilling to give up land. “We will not give any land. Our fight against the project will continue,” said Prashant Paikray, a protest leader. Other projects, including Tata Motors’ plant for the cheap Nano car, have been delayed or relocated due to similar protests, where two-thirds of the population depends on agriculture for a living. Source: Home - Livemint.com | 26 Aug 2009 | 11:10 pm Apple event soon, but no tablet in sightSan Francisco: Anyone holding their breath for Apple Inc’s much-anticipated, but never confirmed, touchscreen tablet device may have to wait a bit longer than they planned. Early hopes that Apple could introduce a tablet — or “iPad” — at an event in September have given way to expectations that the company will instead roll out a refreshed lineup of its iPod devices. “It has to be great — and I don’t think it’s going to be ready for September,” FBR Capital Markets analyst Craig Berger said of a tablet device that many expect would likely resemble a larger, keyboard-less iPod touch. A number of companies have been working to put their stamp on a nascent tablet market that has yet to be truly defined, from personal computer manufacturers to Amazon.com Inc with its Kindle electronic reader. Apple has a tradition of hosting a glitzy September media event, using it to launch devices such as the iPod touch model in 2007 and the iPod nano in 2005. While it has yet to announce anything, it is widely expected to repeat the practice this year. With hopes low that a tablet will be rolled out next month, analysts say there is little risk that its absence will hurt Apple’s stock. The year’s event would be particularly important if chief executive Steve Jobs were to make his first public appearance since a nearly 6-month leave of absence for health issues. Investors will be keen to see for themselves how well he appears. Jobs’ appearance could overshadow any products at the event, especially without a tablet. Odds are that the iPod nano and iPod touch will be refreshed with digital cameras, analysts say, and the iPod touch could also get a video camera. Apple could also unveil the ninth generation of its iTunes software. Although Apple declined to comment, many analysts believe the tablet may not arrive until later this year or next, given the company’s well-known reluctance to rush any device to store shelves before it is fully ready for consumers. Whatever the timing, the prospect of a tablet generates enthusiasm from those who follow the company or own shares. It would likely mark a new product line in the company’s device portfolio, which includes the red-hot iPhone, along with the iPod and Mac computer segments, which have matured. Why a Tablet? Barry Jaruzelski, a partner at consulting firm Booz & Co, cautioned that the tablet space has proved to be a challenge for all who have tested it. Apple, he said, must answer one critical question: “What do I need a tablet for?” He also noted that Apple’s major successes this decade — the iPod and the iPhone — were helped by the services that accompanied them, namely iTunes and the App Store. “It’s got to be something more than just a device. It’s got to be the apps or some sort of solution or service linked to the device, otherwise it’s hard to see how it’s going to be big, as opposed to just nice,” he said. Broadpoint Amtech analyst Brian Marshall expects the device to carry a price tag of $500 to $600, and have both WiFi and cellular connectivity, potentially subsidized by Verizon Wireless in the same way that AT&T subsidizes iPhone purchases. Verizon Wireless is a venture of Verizon Communications Inc and Vodafone Group Plc. He also said expectations are that the tablet will pack a low-power processor from Samsung Electronics and a Qualcomm Inc wireless chip. To be sure, there are tablet notebook PCs already on the market, including offerings from Hewlett-Packard Co, Lenovo and Fujitsu Ltd, with swiveling touchscreens. Some models cost more than $2,000. At the same time, e-readers from Amazon.com and Sony Corp have carved out a solid niche in the marketplace. But analysts envision something different from Apple, more of a multimedia device. “If they can develop a fantastic product that’s ahead of the competition they’ll roll out with their tablet,” said Berger. “If it’s a me-too device, they’re not going to come out with it.” Ankur Crawford, an analyst at Fred Alger Management Inc, which owns Apple shares, said she does not think the tablet has been priced into Apple stock or analysts’ sales estimates. Apple’s stock has nearly doubled this year, and the shares trade at around 29 times forward earnings. She said a tablet would be a way for the company to compete indirectly with netbooks, which are stripped-down, low-cost PCs that have become a favorite of consumers. “I bet a lot of the people buying $400 netbooks will say ‘You know what, I’m going to take that extra $200, I’ll get an iPod, I’ll get a video player, I’ll get so much more, I’ll get this really cool device and I’ll upgrade to it.´” Source: Tech News - Livemint.com | 26 Aug 2009 | 11:01 pm Apple event expected soon, but no tablet in sightSAN FRANCISCO (Reuters) - Anyone holding their breath for Apple Inc's much-anticipated, but never confirmed, touchscreen tablet device may have to wait a bit longer than they planned.Source: Reuters: Money News | 26 Aug 2009 | 9:06 pm Cairn to begin Rajasthan production from Aug 29Cairn India Ltd will start producing crude from its largest field in Rajasthan on August 29, an area that will help increase the country's oil output by 20%.Source: Daily News & Analysis: Money News | 26 Aug 2009 | 4:15 pm US-based Simulmedia seeks India entryThe media marketing compaNY helps television firms improve ratings.Source: Daily News & Analysis: Money News | 26 Aug 2009 | 4:10 pm Gorgon to go on stream by 2014India and China will account for most of the initial offtake from the project.Source: Daily News & Analysis: Money News | 26 Aug 2009 | 4:05 pm '@ 34% a year, MindTree will be $1 billion by 2014'Ashok Soota, executive chairman and chairman -- Strategic Initiatives Committee, MindTree Ltd, and former chief of Wipro Infotech, feels there are no slog overs in business.Source: Daily News & Analysis: Money News | 26 Aug 2009 | 4:00 pm Gujarat NRE not to raise bid for Rey ResourcesMining firm Gujarat NRE Coke, which has made a takeover bid to acquire Australia's Rey Resources, will not hike its offer if Australian firm's share prices continue to rally.Source: Daily News & Analysis: Money News | 26 Aug 2009 | 3:55 pm HC upholds Mumbai airport feeSource: Daily News & Analysis: Money News | 26 Aug 2009 | 3:50 pm Drought may stall food security actGovt is preparing draft, which will take at least a year to be finalised.Source: Daily News & Analysis: Money News | 26 Aug 2009 | 3:45 pm Thursdays trade policy may see exporter sops: Former DGFTNL Lakhanpal, Former Director General of Foreign Trade said the government has little choice but to provide a helping hand to the exporters despite the fiscal deficit constraints, given that other countries are boosting their export sector.Source: Moneycontrol Top Headlines | 26 Aug 2009 | 3:30 pm A $15 bn Master (Fund) of universe came... and wentBrevan Howard Asset Management LLP isn't coming here after all.Source: Daily News & Analysis: Money News | 26 Aug 2009 | 3:30 pm BP awards deals to IBM, TCS, Accenture, Infosys, WiproTop Indian IT firms TCS, Wipro, and Infosys and global majors Accenture and IBM have landed a mega fiveyear outsourcing deal from the oil and gas major BP.Source: Moneycontrol Top Headlines | 26 Aug 2009 | 3:25 pm AP talks to HPCL, ONGC for allianceState last week formed AP Gas Infrastructure Corp Ltd to participate in oil & gas exploration.Source: Daily News & Analysis: Money News | 26 Aug 2009 | 3:24 pm Even European Union doesn't link regulatory approval for generics to innovator patentEven European Union doesn't link regulatory approval for generics to innovator patent.Source: Daily News & Analysis: Money News | 26 Aug 2009 | 3:20 pm Reality shows suffer mid-life crisisPrivate TV channels that hope to woo advertisers and viewers by launching reality shows are facing a new reality. Far from driving ratings to newer heights as they were expected to do, viewer interest in reality shows appears to taper halfway through. Instead, it is the age-old soaps and drama that ultimately provide consistent ratings and, therefore, advertising revenues.Source: Business Standard | Front Page Headlines | 26 Aug 2009 | 2:33 pm Core sector growth slumps to 1.8%Hopes of a recovery waned today, with data for output growth of six core industries dropping to 1.8 per cent in July, the lowest in the current financial year, and significantly behind a 6.8 per cent growth in June and 5.1 per cent in July last year.Source: Business Standard | Front Page Headlines | 26 Aug 2009 | 2:32 pm Coke wins landmark service tax caseIn a judgment that stands to benefit contract manufacturers like fast moving consumer goods (FMCG), pharmaceutical and cosmetic majors, the Bombay High Court today ruled that beverage major Coca-Cola could avail of tax credit on the service tax it pays for advertising and promotions.Source: Business Standard | Front Page Headlines | 26 Aug 2009 | 2:29 pm We may have to retrench, A-I chief warns unionsIn a clear challenge to the 14 unions of Air India representing over 32,000 employees, the management has made it clear that it might consider various stringent options, including laying off employees and cutting routes to keep the airline airborne.Source: Business Standard | Front Page Headlines | 26 Aug 2009 | 2:28 pm Nasscom cuts forecast for animation, gaming sectors for 2012Mumbai: The apex body of IT software and services Nasscom on Wednesday lowered its forecast for the animation and gaming industry for 2012 on account of the global economic downturn. Nasscom revised the forecast for the gaming industry from $1,060 million to $830 million and animation industry from $1,163 million to $1,000 million. “Indian animation industry is expected to grow at a CAGR of 22% to reach $1 billion while gaming industry to grow at a CAGR of 49% to reach $830 million by 2012,” Nasscom president Som Mittal told reporters here while releasing ‘The Animation and Gaming Report 2008-09´. The report, prepared by Nasscom and Ernst and Young provides a detailed insight on the growth-drivers, business models, issues and challenges for the gaming and animation industry in the next few years. The other factors which resulted in revising the forecast were a lack of availability of skills for animation industry, slow growth of domestic box-office for animation movies and proof of concept or IP creation not upto expectations. “Nasscom recognizes animation and gaming industry as a significant user of technology. However, being in nascent stage, it is critical for all stakeholders to come together and create an environment that nurtures this industry for it to be able to compete at a global scale,” Mittal said. “India’s pursuit to establish itself in the global animation and gaming arena is facilitated by quality and lower cost advantage, large scale availability of manpower along with cultural and English language synergies,” Ernst and Young Partner and National Leader (Media and Entertainment Practice), Farokh Balsara, said. This combined with growing consumer demand from the domestic market would provide the required boost for the industry in the country, he said. Balasara said that the key issues faced by the Indian animation industry are a lack of trained manpower, excessive dependence on off-shoring, limited domestic proliferation and lack of original content. The report classifies gaming industry into four segments- online, mobile, personal computer and console games. The domestic gaming market is driven by console and mobile gaming consumer industry, Balasara said. “Availability of console hardware at lower price points and high installed base of mobile phones are the major growth drivers for console gaming and mobile gaming market,” he said. The key issues faced by the gaming industry are high import duty causing hardware price inflation, major share of revenue for mobile operator than game developers, resulting in quality compromise and piracy, among others, he said. The report outlines some of the key steps that need to be taken for the industry to realize its true potential. “Thrust on education and employability, conducive policy and simplified duty structure, IP creation and protection and global branding initiatives can help to further build India as an animation and gaming hub,” the report said. Source: Tech News - Livemint.com | 26 Aug 2009 | 8:07 am Shuttle launch delayed, may fly FridayCape Canaveral: Nasa delayed a Wednesday morning liftoff of the space shuttle Discovery because of an apparent problem with a valve in its fuel tank and said the next possible launch opportunity was Friday. It was the second consecutive delay, after stormy weather postponed a launch attempt early on Tuesday. Discovery and its seven-member crew were preparing for a 13-day supply mission to the International Space Station. The valve problem surfaced as technicians began fueling up the shuttle for a launch set for 10.40 (0510 GMT) from the Kennedy Space Center in Florida. “When we went to close the valve (after the hydrogen tank was full) we didn’t get an indication that it was closed,” Mike Moses, who oversees the shuttle program at the launch site, told reporters. Engineers believe the problem to be with instrumentation that monitors the valve, and not the valve itself, which would position NASA for a possible third launch attempt at 9.50 am (0422 GMT) on Friday. Anything more serious and the launch likely would be postponed until October. Nasa has until Sunday for launch attempts before it would have to stand down due to a schedule conflict at Cape Canaveral Air Force Station, which shares safety, tracking and support services with Kennedy Space Center. In addition, the International Space Station is preparing for its first cargo ship from Japan and cannot receive the shuttle and the new Japanese vehicle simultaneously. Discovery is scheduled to deliver lab equipment, supplies and spare parts to the station. Including Discovery’s flight, Nasa plans seven more shuttle missions to the space station. The 16-nation, $100 billion project is nearing completion after more than a decade of construction 220 miles (350 km) above Earth. The shuttles are being retired late next year or early 2011. Nasa is working on a new type of spaceship called Orion that can travel beyond the station’s orbit to the moon and other destinations. After the shuttle program ends, the station will depend on Russian, European and Japanese vehicles, though none has nearly the lift capacity of the shuttle, which can haul 50,000 pounds (23,000 kg). Discovery carries new science racks, a freezer, a sleep station, a second treadmill, food, clothing, supplies and spare parts for the station, including an 1,800-pound (800 kg) ammonia coolant tank that will be installed during two of the spacewalks. Among the experiments planned for the station is a bone-loss study that uses genetically altered mice as subjects. The mice are flying to the station aboard Discovery and will be left aboard until the next shuttle mission in November. Source: Tech News - Livemint.com | 26 Aug 2009 | 4:14 am
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