India fastest growing mobile market in South Asia!

India is one of the fastest growing mobile market in South Asia with a huge potential for growth amongst the rural population, an industry analyst has said.
Source: Zee News : Business | 29 Nov 2009 | 4:44 am

UAE central bank says closely monitoring Dubai crisis!

The central bank of the United Arab Emirates is closely watching events stemming from the Dubai debt crisis to ensure no harm results for the national economy, a spokesman for the central bank said on Saturday.
Source: Zee News : Business | 29 Nov 2009 | 4:44 am

NTPC kickbacks case: Court`s no to firm`s plea for defreezing a/c!

A Delhi Court has refused to order defreezing of a UK bank account of a consultancy firm accused of receiving USD 20.07 million in kickbacks from a Russian firm for securing a Rs 2,066 crore contract from NTPC.
Source: Zee News : Business | 29 Nov 2009 | 4:44 am

Labour trouble brews again in Hyundai Motor India!

Hyundai Motor India Employees Union, which served a strike notice last week over a contentious labour union election issue, is expected to convene a general body meeting soon to chalk out its future course of action.
Source: Zee News : Business | 29 Nov 2009 | 4:44 am

CBI likely to file chargesheet against Raju on diverting funds!

In the wake of new evidences, the CBI will soon file a fresh chargesheet against tainted Satyam Computer founder B Ramalinga Raju and others for allegedly diverting hundreds of crores of rupees to some foreign countries.
Source: Zee News : Business | 29 Nov 2009 | 4:44 am

SBI union rejects new wage pact, demand separate revision!

The All-India State Bank Officers Federation (AISBOF) on Friday rejected the proposed 17.5 percent wage hike and pension benefits and demanded a separate wage revision for them.
Source: Zee News : Business | 29 Nov 2009 | 4:44 am

South Korea sees limited fallout from Dubai crisis

Financial and construction shares tumbled while local government bond prices soared on a massive flight to safely.
Source: Daily News & Analysis: Money News | 29 Nov 2009 | 3:27 am

Online CAT marred by technical glitches again, 24 centres hit - Sify


Indian Express
Online CAT marred by technical glitches again, 24 centres hit
Sify
The highly competitive Common Admission Test (CAT), which went online for the first time this year, was once again hit Sunday by technical problems and poor management, affecting students in as many as 24 test centres in 13 cities across the country. ...
CAT goes online today, to continue till Dec 7Hindustan Times
A first-hand, first-day account of CAT 2009Livemint
CAT online exam: Snags reported in many of 105 centresEconomic Times
Indian Express -Hindu -Times of India
all 340 news articles »

Source: Business - Google News | 29 Nov 2009 | 3:22 am

Dubai World refused distress-asset sale

Stocks from Tokyo to New York have been haunted by concern that banks were exposed to state companies in Dubai, though world leaders expressed confidence in the global economic recovery.
Source: Daily News & Analysis: Money News | 29 Nov 2009 | 3:21 am

IBM to buy start-up Guardium for $225 million

Guardium started as an Israeli firm in 2002 but moved to Boston in 2003. It has about 60 employees and all will profit from the sale.
Source: Daily News & Analysis: Money News | 29 Nov 2009 | 3:19 am

EU business calls on WTO to speed up Doha talks

GENEVA (Reuters) - European businesses, growing frustrated at slow progress in the World Trade Organisation's Doha round, called on Sunday for the WTO to tackle the negotiation at next week's conference.

Source: Reuters: Money News | 29 Nov 2009 | 3:09 am

Nokia Siemens CEO says focus on market share

Ailing telecom equipment maker Nokia Siemens Networks has changed its business focus to increasing its market share.
Source: Daily News & Analysis: Money News | 29 Nov 2009 | 3:09 am

S.Korea sees limited fallout from Dubai crisis

SEOUL (Reuters) - South Korean regulators see little chance of a full-scale global problem stemming from Dubai's debt crisis and expect a limited impact on local financial markets, the country's Financial Services Commission (FSC) said on Sunday.

Source: Reuters: Money News | 29 Nov 2009 | 3:03 am

Euro zone sees no default spillover from Dubai woes

NANJING, China (Reuters) - The euro zone does not risk the sort of debt problems plaguing Dubai, senior European Union officials said on Sunday.

Source: Reuters: Money News | 29 Nov 2009 | 2:34 am

Tata rejects 10m pound loan by British govt: Report

Indian conglomerate Tata Group has rejected a 10 million pound British government loan, which was supposed to be used for developing an electric version of one of its existing models, says a media report.
Source: India Business News | Business News - Times of India | 29 Nov 2009 | 2:30 am

Aditya Birla Retail mulls IPO, charts ambitious growth plan

Aditya Birla Retail is considering an initial public offer and will time it as soon as the company starts spinning profits.
Source: Daily News & Analysis: Money News | 29 Nov 2009 | 2:19 am

IBM to buy start-up Guardium for $225 mln - newspaper

TEL AVIV (Reuters) - IBM, the world's biggest technology services company, is expected to announce this week the acquisition of database security start-up Guardium for $225 million, Israeli financial newspaper TheMarker reported.

Source: Reuters: Money News | 29 Nov 2009 | 2:17 am

EU calls for gradual, orderly rise in yuan

NANJING, China (Reuters) - A gradual, orderly appreciation of the yuan is in the interests of both China and the world economy, senior European Union officials said on Sunday.

Source: Reuters: Money News | 29 Nov 2009 | 2:16 am

Tatas rejects British govt loan: report

London: Indian conglomerate Tata group has rejected a £10 million British government loan, which was supposed to be used for developing an electric version of one of its existing models, says a media report.
“The Indian conglomerate Tata has snubbed Lord Mandelson, the business secretary, rejecting a £10 million loan for a technical centre in the Midlands,” the Sunday Times reported.
Quoting senior motor industry sources, the report said the Tatas, owner of premium car brands Jaguar and Land Rover and steel maker Corus, has in the past few days told the government that it does not want the money.
“It has decided it can get better terms from commercial lenders,” the newspaper said citing sources.
Mandelson had last month announced the loan (£10 million), saying that Britain was backing Tata’s research into electric cars.
The money was awarded as part of the Automotive Assistance Programme (AAP), a scheme that was designed to help the car industry overcome the worst of the recession and foster investment in new technology.
The £10 million government loan was designed to bolster a £25 million investment by Tata Motors, in its European Technical Centre based at Warwick University.
The Warwick technical centre was set up in 2005 to develop technology to be used in Tata cars manufactured in India and give the group access to European automotive talent.
It is working on a European version of the Nano, the affordable so-called “people’s car”, which was introduced in India last year.
The money was supposed to be used to develop an electric version of one of its existing models.
The daily further said that the Tatas had declined to comment, while Mandelson’s department for business, innovation and skills said that the loan was still on offer.
Earlier, the Tatas and Mandelson were involved in negotiations over aid for Jaguar and Land Rover.
The Tatas, which bought the British brands from Ford last year for £1.3 billion, had asked the government for a £500 million loan guarantee when vehicle sales slumped. But Tatas eventually decided not to accept a government offer, saying it could find better terms elsewhere.
The newspaper further said that Jaguar Land Rover is considering whether to close one of its three UK plants as part of a plan to cut costs.

Source: Home - Livemint.com | 29 Nov 2009 | 2:15 am

Availability of 3 runways with ILS could reduce flight delays

Flyers may expect less number of flight delays during the fog this winter with all the three runways of the Indira Gandhi International airport in New Delhi being equipped with the Instrumental Landing System.
Source: HindustanTimes.com - Top Business News Headlines | 29 Nov 2009 | 1:50 am

Dubai World refused distress-asset sale - report

DUBAI (Reuters) - Dubai World has refused to offload assets at fire-sale prices to repay obligations, forcing it to seek a debt standstill, a newspaper report on Sunday quoted an unnamed source at the government-controlled firm as saying.

Source: Reuters: Money News | 29 Nov 2009 | 1:39 am

Washington to press banks on mortgage relief

There was increasing evidence that the $75 billion taxpayer-funded effort to fight foreclosures was heading for trouble.
Source: Daily News & Analysis: Money News | 29 Nov 2009 | 1:39 am

Govt tracking Dubai fallout, missions directed to help workers

Overseas Indian affairs minister Vayalar Ravi, however, said government was not anticipating a surge of returnees to India from the region following the debt debacle.
Source: Daily News & Analysis: Money News | 29 Nov 2009 | 1:33 am

'Telecom penetration in rural India faces challenges'

Even as the rural market is growing attractive for India's telecom industry, the operators face several challenges in rural penetration like illiteracy and low revenue per user, according to a report.
Source: IndiaeNews.com: Business News | 29 Nov 2009 | 1:03 am

Indo US services trade may touch 150 bn by 2015 CII

The Indo-US services trade is likely to grow to an ambitious $ 150 billion in the next six years, says a CII estimate.


Source: HindustanTimes.com - Top Business News Headlines | 29 Nov 2009 | 1:02 am

GE Healthcare offers IT solutions to Indian hospitals

GE Healthcare, the $17-billion unit of General Electric, has initiated a project to provide IT solutions to Indian hospitals for affordable treatment.
Source: IndiaeNews.com: Business News | 29 Nov 2009 | 1:02 am

Tea production to go down due to weather: Tea Board chief

Tea production in India will be marginally lower this year than in the year before due to erratic weather, says Tea Board of India chairman Basudeb Banerjee.
Source: IndiaeNews.com: Business News | 29 Nov 2009 | 1:00 am

Thailand's Dusit group to build five luxury hotels in India

Thai hospitality chain Dusit, acclaimed for blending modern global service standards with the country's traditional hospitality in its hotels, hopes to open its first luxury property outside the country in New Delhi next year.
Source: IndiaeNews.com: Business News | 29 Nov 2009 | 1:00 am

L&T ties up with NPCIL to make forgings for n-plants - Moneycontrol.com


Hindu Business Line
L&T ties up with NPCIL to make forgings for n-plants
Moneycontrol.com
Larsen and Toubro is all set to ink a joint venture agreement with the Nuclear Power Corporation of India for setting up a Rs 2000-crore project to make forgings for nuclear power plants. The manufacturing facility is expected to come up at Hazira, ...
NPCIL, L&T nuke forgings JV to take offEconomic Times
Nalco, NPCIL ink pact for nuke power generationBusiness Standard
Land acquisition for Jaitapur project by Jan: state to NPCILIndian Express
TopNews -Business Standard -Business Standard
all 11 news articles »

Source: Business - Google News | 29 Nov 2009 | 12:55 am

Radiation leak is a ’malevolent’ act, says Kakodkar

Mumbai / Kaiga: In a case of sabotage, Atomic Energy Commission chief Anil Kakodkar on Sunday said somebody “deliberately” put radioactive tritium in a water cooler at the Kaiga Nuclear Power Plant that exposed about 50 workers to increased level of radiation.
People involved will be punished under the Atomic Energy and other acts after investigation, he said.
“Somebody deliberately put the tritiated water vials into a drinking water cooler. Therefore, we are investigating who is behind the malevolent act,” he said.
About 45 to 50 employees working in the first maintenance unit of the Kaiga plant in Uttara Kannada district were treated at the plant hospital in Mallapur for increased level of tritium after they drank water from a cooler in the operating area on 24 November, an official said.
Tritium, a radioactive isotope of hydrogen, is used in research, fusion reactors and neutron generators.
The plant’s station director J.P. Gupta said from Kaiga that investigations have revealed that one of the water coolers was found to be contaminated and as a precautionary measure, body samples of all the persons working in the area were analysed and based on those results, a few were sent for medical consultation.
Kakodkar said, “The investigations are being carried out from two angles. First to ascertain as to who contaminated the water cooler with tritiated heavy water, and the second from radiation protection angle.”
The Atomic Energy Commission chief said, ”No harm is expected as the regulatory limits are very stringent. There is plenty of margin between the permissible exposure level and exposure level when it causes same harm.”.
Few years back a similar malevolent act was observed in Tarapur atomic power sub-station and the culprits were dismissed after investigations by the department of atomic energy.
Uttara Kannada district superintendent of police Raman Gupta said the police have offered their assistance in the investigation at the Kaiga plant.
“We are taking it seriously as public interest is involved. We are waiting for the nod of Kaiga authorities for investigation,” Gupta said.
Authorities of Kaiga plant, a high security area, have told the police that an internal investigation is on. The contents of the water in the cooler are being investigated.
Uttara Kannada district commissioner Channappa Gouda said the affected employees are recovering.
He said there was no radiation leakage in the plant. The experts’ team is investigating on how the water in the cooler contained nuclear radiation, he said.
KAPS-1 has been shut down since 20 October for annual maintenance. Kaiga has three atomic power units of 220 MW each. A fourth unit is ready for commissioning.

Source: Home - Livemint.com | 29 Nov 2009 | 12:37 am

Dubai debt crisis not to snowball into another meltdown: PMEAC - Times of India


Dubai debt crisis not to snowball into another meltdown: PMEAC
Times of India
PTI 29 November 2009, 12:27pm IST NEW DELHI: The Prime Minister's economic panel does not expect the Dubai debt crisis to trigger another meltdown in the world and has retained its forecast of Indian economic growth rate to 6.5% for the current fiscal. ...
PMEAC expects Q2 GDP growth at 6.1%Hindu Business Line
Dubai debt crisis: Overseas affairs min gears up to support Indian workforceEconomic Times
Govt tracking Dubai fallout, missions directed to help workersDaily News & Analysis
Indian Express -Sify -Calcutta Telegraph
all 321 news articles »

Source: Business - Google News | 29 Nov 2009 | 12:14 am

Dubai storm Realty IPOs to feel the heat

Domestic realty companies which are planning to tap the primary markets may not see a smooth sailing as the Dubai debt crisis is likely to undermine investor confidence in the sector.
Source: HindustanTimes.com - Top Business News Headlines | 29 Nov 2009 | 12:13 am

High taxes dampener to food processing says industry

About Rs 50,000 crore worth of fruit and vegetables go waste as only 2 per cent of the production is processed, industry chamber Assocham said.
Source: HindustanTimes.com - Top Business News Headlines | 29 Nov 2009 | 12:05 am

Sri Lanka’s war hero runs for president

Colombo: The Sri Lankan general who oversaw the end of 25 years of war said on Sunday he will run for president, pitting himself against the man who also takes credit for the victory against Tamil Tiger rebels.
Army veteran Sarath Fonseka quit the military after a 34-month offensive, accusing President Mahinda Rajapaksa of sidelining him over unfounded coup fears.
He could now split Rajapaksa’s support base and win over the votes of Sri Lankans happy the conflict is over. “I have decided to contest in the presidential poll as a common candidate of the opposition parties, on their request,” Fonseka, the former chief of defence staff, told reporters. “Sri Lanka suffered violence at the hands of terrorists and has been suffering too long. Now we have done away with the terrorism. But now you can’t leave the country in the hands of a dictator.”
He criticised the government’s record on corruption, media freedom, democracy, resettlement of the war displaced, the peace dividend and law and order, areas which opposition and Western nations have also said Rajapaksa has done too little. The elections are scheduled for 26 January.
“We have to ensure good governance. I been selected (for) politics with reluctance and I will ensure the democracy is re-established.”
Fonseka will contest in a united opposition backed by the pro-business United National Party and the Marxists Janatha Vimukthi Peremuna.
Although a war hero, Fonseka is not without his critics including those in the army who say he has shown a ruthless, win-at-all costs mentality throughout his career.
A US State Department report into possible war crimes at the end of the war said some officers had questioned whether their orders could have violated humanitarian law.
The U.S. Department of Homeland Security asked to question Fonseka when he visited his daughters in Oklahoma this month, but Sri Lanka protested and Fonseka left without being interviewed.
The 39-year army veteran was given nearly unbridled power as he prosecuted the war in tandem with his former comrade-in-arms, defence secretary Gotabaya Rajapaksa, the president’s brother.

Source: LatestNews-Home - Livemint.com | 29 Nov 2009 | 12:04 am

Dubai storm: Realty IPOs to feel the heat

Domestic realty companies which are planning to tap the primary markets may not see a smooth sailing as the Dubai debt crisis is likely to undermine investor confidence in the sector.
Source: India Business News | Business News - Times of India | 29 Nov 2009 | 12:00 am

Weekly News Round Up

Dubai, ruled by Sheikh Mohammed Bin Rashid Al Maktoum, which borrowed $80 billion in a four-year construction boom to transform the economy into a regional tourism and financial hub, suffered default due to slump in real estate following the global
Source: Business Line - Home Page | 29 Nov 2009 | 12:00 am

UTI to be first on NSE mutual fund platform

Around 30 of the 100 schemes of UTI Mutual Fund will be listed on the new NSE Mutual Fund platform, which is set for a Monday
Source: Business Line - Home Page | 29 Nov 2009 | 12:00 am

Software glitch troubles CAT online debut

Despite the economic slowdown, students are still upbeat about getting an MBA degree. More than two lakh candidates registered for Common Admission Test (CAT) 2009, with the hope of getting admission into the country's leading management schools.
Source: Business Line - Home Page | 29 Nov 2009 | 12:00 am

Kerala wants Centre to compensate Gulf returnees

Fearing a large influx of laid-off workers from Dubai, the Kerala Government has sought Central aid for compensating them. The Kerala Finance Minister, Dr T.M. Thomas Isaac, told Business Line that the State will be seriously hit even if around
Source: Business Line - Home Page | 29 Nov 2009 | 12:00 am

Cement prices hit rock bottom

Cement prices have hit a low in Andhra Pradesh, one of the largest markets in the country, and some other States due to slackening demand and entry of new
Source: Business Line - Home Page | 29 Nov 2009 | 12:00 am

L&T ties up with NPCIL to make forgings for n-plants

Larsen and Toubro is all set to ink a joint venture agreement with the Nuclear Power Corporation of India for setting up a Rs 2,000-crore project to make forgings for nuclear power
Source: Business Line - Home Page | 29 Nov 2009 | 12:00 am

PNB has no exposure in Dubai World

Punjab National Bank (PNB) has said that it does not have any exposure in the Dubai
Source: Business Line - Home Page | 29 Nov 2009 | 12:00 am

Dubai debt crisis not to snowball into another meltdown: PMEAC

The Prime Minister's economic panel does not expect the Dubai debt crisis to trigger another meltdown in the world and has retained its forecast of Indian economic growth rate to 6.5% for the current fiscal.
Source: India Business News | Business News - Times of India | 28 Nov 2009 | 11:57 pm

Indo-US services trade may touch $150bn by 2015: CII

At present, the country's total engagement with the US is over $60 billion, out of which about $40 billion are accounted for by the merchandise trade. Last fiscal, the services exports to the US touched $22 billion.
Source: India Business News | Business News - Times of India | 28 Nov 2009 | 11:53 pm

Dubai World s impact on India to be limited say experts

The impact of the Dubai World crisis on India's economy would be limited and the authorities there would find a way out, experts said.


Source: HindustanTimes.com - Top Business News Headlines | 28 Nov 2009 | 11:48 pm

MTNL received highest GSM spectrum for Delhi, Mumbai

State-run GSM mobile operator MTNL, which operates in Delhi and Mumbai, has 12.4 Mhz specturm, the highest amount given to any operator so far.
Source: India Business News | Business News - Times of India | 28 Nov 2009 | 11:48 pm

PMEAC expects Q2 GDP growth at 6 1 others say 6 2 to 6 6 pc

The Prime Minister's economic advisory panel expects the economy to grow by around 6.1 per cent in the second quarter, the same as in the preceding three months, due to the impact of a weak monsoon on agriculture.
Source: HindustanTimes.com - Top Business News Headlines | 28 Nov 2009 | 11:32 pm

Tokio Marine mulls over foraying into Indian AMC space

However, the company would like to focus on its life and non-life insurance businesses in India.
Source: Daily News & Analysis: Money News | 28 Nov 2009 | 11:20 pm

50 CAT exam centres closed today

New Delhi: The computer-based Common Admission Test in around 50 centres across the country were on Sunday rescheduled to allow necessary repairs to be completed at the laboratories where technical glitches disrupted the exams on the first day.
Prometric, the American firm which has been entrusted with the task of conducting the tests, said while a significant majority of the candidates successfully completed their exams on Saturday, various technical issues arose at selected computers in approximately 50 laboratories that prevented approximately 2,000 exams from being delivered.
“Prometric technicians have been dispatched to address these isolated problems. To avoid candidate inconvenience and to allow for the necessary repairs to be completed at the impacted labs, Prometric has scheduled a closure of these labs today,” an announcement on the CAT-IIM official website said.
“Candidates affected by this closure will also be notified by Prometric in the manner described above and provided with new appointments within this year’s testing period,” the announcement said.
It said Prometric has generated new appointments for individuals who could not take the test on Saturday and they are in the process of being contacted through SMS and email messages.
The first-ever experiment of the IIMs to conduct its CAT using computers ran into trouble on Saturday in many centres across the country.
Soon after the exam started, students faced problems in opening the computers at 11 centres in Delhi, Mumbai, Pune, Chennai, Bangalore, Kolkata and Bhopal.
Among the centres that will be closed on Sunday, 11 are in Bangalore, followed by Bhopal (8), Lucknow (6), Mumbai (6), New Delhi (5), Ghaziabad (4), Varanasi (2), Hyderabad (2), Bhubaneswar, Chandigarh, Nagpur, Kolkata and Coimbatore (1 each).

Source: Home - Livemint.com | 28 Nov 2009 | 11:13 pm

The world is the market for e-book readers

The horse is here to stay, but the automobile is a novelty, a fad. These were the words uttered famously by a president of the Michigan Savings Bank advising Henry Ford's lawyer Horace Reckham not to invest in the Ford Motor Co. in 1903. Blame it on the Theory of Technological Evolution or call it the Survival of the Fastest (with due respects to Mr. Darwin) but for a majority of people, travelling in an automobile is as much a part of normal activity as may be bushing their teeth. The day also is not far, oh you lover-of-the-scent-of-paper, when e-book readers will fall in the same bracket.
Source: IndiaeNews.com: Business News | 28 Nov 2009 | 11:01 pm

Dubai World's impact on India to be limited, say experts

The impact of the Dubai World crisis on India's economy would be limited and the authorities there would find a way out, experts said.
Source: Daily News & Analysis: Money News | 28 Nov 2009 | 10:50 pm

China to expand old-for-new car, appliance schemes

China will expand schemes that give consumers a discount if they trade in old cars and household appliances for new ones.
Source: Daily News & Analysis: Money News | 28 Nov 2009 | 10:50 pm

High investment returns in India outweigh fear of terrorism

New Delhi: Last week’s one-year anniversary of the Mumbai siege was a reminder of India’s vulnerability to militant attacks.
But analysts say high returns for investors in the country this year show they are unfazed by the risks.
“The attacks haven’t deterred investors,” said senior Asian economist Robert Prior-Wandesforde at HSBC in Singapore. “The perceived advantages of India as an investment location are clearly dominant.”
Indian markets have seen a surge in foreign capital flows that has driven the benchmark 30-share Sensex index up more than 70% so far this year and the rupee to a one-year high against the dollar.
The lure of strong returns with many developed nations mired in economic slowdown has outweighed concern about the threat of more attacks like the rampage last November by 10 Islamist gunmen in which 166 people died, analysts say.
“Institutional investors and companies see Asia as the future, not the Western world, and within Asia, India -- along with China -- is attracting a lot of interest for very good reasons,” said Prior-Wandesforde.
Mumbai is the financial hub of South Asia, a region ex-US president Bill Clinton in 2000 dubbed the world’s “most dangerous place” due to the long-standing hostility between nuclear-armed India and Pakistan, and the siege came at a bad time for the economy.
The first anniversary of the Mumbai attacks, which India blamed on the banned Pakistani militant group Lashkar-e-Taiba, was marked Thursday with a series of remembrance ceremonies for the victims.
At the time of the siege, India’s economy was already staggering from the effects of the worst global financial crisis since the 1930s and investors were racing for the exits.
The attacks’ timing was “abysmal” from an economic viewpoint, said Deepak Lalwani, India director at London’s Astaire and Partners.
In 2008, overseas funds sold Indian stocks worth $13.13 billion for the year, against a record investment the previous year of more than $17 billion.
But India’s economy has made a stronger-than-expected recovery, prompting a return of investors who have also been cheered by the prospects of political stability after the decisive re-election win of the Congress party.
Foreign funds have bought equities worth nearly $15.5 billion so far this year.
“The markets in 2009 look set to end on a cheerful note after a rather ghastly 2008,” Lalwani said.
The latest global market turmoil triggered by Dubai’s request for a debt payment moratorium for its flagship investment vehicle Dubai World is not expected to have a big impact on Indian markets.
“Longer term, it won’t affect the India story,” said Lalwani, a reference to India’s upbeat investment prospects.
A top government advisory panel has forecast the country’s economy will grow by about 6.5 percent this year and seven to eight percent next year.
“The attacks have been long forgotten by investors,” Ian Gomes, chairman of global consultancy KPMG Emerging Markets, told AFP by telephone from London.
“From our interactions with people, it seems they’re looking at investing in India purely from a standpoint of whether they can make money and India is seen as a place that can do that for them,” he said.
After the attacks, the government moved P. Chidambaram, who as finance minister won kudos for steering India through four years of nearly 9% growth, to the home ministry to bolster the fight against militancy.
Early in November, Chidambaram insisted to a conference of global fund managers, venture capitalists and corporate chiefs in New Delhi that India was “no more vulnerable (to attack) than other countries”.
“Should there be an attack, we believe we have the capacity to contain it and respond in a swift and decisive manner,” he told the conference.
The threat of militancy does “not affect our capacity to promote investment and promote growth,” Chidambaram said.
But commentators say India needs to take more effective measures to prevent another assault, with the capacity of its police and intelligence forces areas of key concern.

Source: Home - Livemint.com | 28 Nov 2009 | 10:34 pm

SBI bets big overseas plans to open 23 branches by March

The State Bank of India, which enjoys the largest overseas presence among local lenders, is in the advanced stages of opening 23 more branches abroad over the next four months, a top SBI official said.
Source: HindustanTimes.com - Top Business News Headlines | 28 Nov 2009 | 10:26 pm

China to expand old-for-new car, appliance schemes

BEIJING (Reuters) - China will expand schemes that give consumers a discount if they trade in old cars and household appliances for new ones, Vice Commerce Minister Jiang Zengwei said.

Source: Reuters: Money News | 28 Nov 2009 | 10:18 pm

Canada, India reach nuclear cooperation pact

TORONTO (Reuters) - Canada and India agreed on Saturday to cooperate on nuclear issues, with a pact that ends a freeze in cooperation dating from 1974 and could offer new opportunities for Canadian uranium firms.

Source: Reuters: Money News | 28 Nov 2009 | 10:12 pm

Japan may bring in "green" tax in April - paper

TOKYO (Reuters) - Japan may introduce a 20 yen ($0.23) a litre environmental tax on fuel as soon as April 2010, partly to make up for a steep fall in other tax revenues caused by the faltering economy, the Yomiuri newspaper said on Sunday.

Source: Reuters: Money News | 28 Nov 2009 | 9:58 pm

Canada, India reach nuclear cooperation pact

Toronto: Canada and India agreed on Saturday to cooperate on nuclear issues, with a pact that ends a freeze in cooperation dating from 1974 and could offer new opportunities for Canadian uranium firms.
“Increased collaboration with India’s civilian nuclear energy market will allow Canadian companies to benefit from greater access to one of the world’s largest and fastest expanding economies,” Canadian Prime Minister Stephen Harper said in a statement, announcing the conclusion of negotiations on a nuclear cooperation agreement.
“Canada and India will now take the necessary steps to prepare the agreement for final signature and implementation,” said the statement, released after talks between Harper and Indian Prime Minister Manmohan Singh on the sidelines of the Commonwealth summit in Trinidad and Tobago.
Canada halted nuclear co-operation with India after the country diverted material from Canadian-designed reactors to make a nuclear bomb in 1974.
Possible Canadian winners from a deal include uranium miner Cameco Corp., which has said it plans to open a marketing office in India in an effort to win uranium supply deals, mining joint ventures and a chance to leverage its expertise in nuclear technology that India already uses.

Source: LatestNews-Home - Livemint.com | 28 Nov 2009 | 9:56 pm

SBI to open 23 overseas branches by March

State Bank of India, which enjoys the largest overseas presence among local lenders, is in the advanced stages of opening 23 more branches abroad over the next four months.
Source: India Business News | Business News - Times of India | 28 Nov 2009 | 9:46 pm

Commonwealth for ‘substantial’ action on emission cut

Port of Spain: Warning that climate change was posing “existential” threat to several small countries, the 53-nation Commonwealth on Saturday said the upcoming Copenhagen meet should come out with an ambitious mitigation outcome as there was a need for an “urgent and substantial” action to reduce global emissions.
The Commonwealth Heads of Government Meeting (CHOGM), attended among others by Prime Minister Manmohan Singh, asked the developed nations to continue to lead on cutting their emissions and emphasised that the developing countries, in line with their national circumstances, should also take action to achieve a substantial deviation from “business-as- usual emissions”.
Noting that it represents one-third of the world’s population, the CHOGM declaration said that “internationally legally binding agreement is essential” and its voice has to be heard at the next month’s Copenhagen Summit.
“Science, and our own experience, tells us that we only have a few short years to address this threat. The average global temperature has risen because of the increase in carbon and other greenhouse gas emissions. The latest scientific evidence indicates that in order to avoid dangerous climate change that is likely to have catastrophic impacts we must find solutions using all available avenues. We must act now,” the Port of Spain Climate Change Consensus stated.
It said that the upcoming meet on climate change provides an “unprecedented opportunity...We approach Copenhagen with ambition, optimism and determination.”
The declaration said the agreement in Copenhagen must address the urgent needs of developing countries by providing financing, support for adaptation, technology transfer and incentives for reducing emissions from deforestation and forest degradation, and for afforestation.
It pointed out that a global climate change solution is central to the “survival of peoples, promotion of development and facilitation of a global transition to a low emission development path”.

Source: Home - Livemint.com | 28 Nov 2009 | 9:42 pm

BHEL not to go ahead with Singur project

In a setback to efforts by West Bengal govt to have a mega power plant at the site in Singur abandoned by Tata Motors, BHEL informed the state authorities that they were not going ahead with the proposed project.
Source: India Business News | Business News - Times of India | 28 Nov 2009 | 9:35 pm

Minor radiation in Kaiga nuke plant; 20 sick

Sirsi (Karnataka): About 20 employees working in Kaiga Nuclear Power Plant in Uttara Kannada district suffered minor nuclear radiation after drinking contaminated water in the plant.
The employees working in the first maintenance unit of the plant were treated for increasing level of tritium after they drank water from a water cooler in the operating area on 24 November, an official said on condition of anonymity.
Tritium, also known as Hydrogen-3, is used in research, fusion reactors and neutron generators.
Urine examination of the employees in the unit is done everyday as a matter of routine and during such a test four days ago it was found that the tritium level was more than the normal level. They were taken to the plant hospital in Mallapur and were treated immediately, the official said.
“The contents of the water in the cooler are being investigated,” the official said.
Scientists carried out immediate checks for radioactivity at the plant site but no leakage was detected, sources said.
A probe was being carried out to find out how the water in the cooler was contaminated, the sources said.
KAPS-I has been shut down since 20 October for annual maintenance.
Kaiga has three atomic power units of 220 MW each. A fourth unit is almost ready for commissioning.

Source: Home - Livemint.com | 28 Nov 2009 | 8:58 pm

U.S. Black Friday sales barely up, online surges

CHICAGO (Reuters) - In a worrisome sign for U.S. retailers, data released on Saturday showed that sales rose a scant 0.5 percent on the traditional kickoff to the holiday shopping season despite early signs of a strong showing.

Source: Reuters: Money News | 28 Nov 2009 | 8:20 pm

Auto hub in Shalimar on 4.5-acre plot - Times of India


The Hindu
Auto hub in Shalimar on 4.5-acre plot
Times of India
KOLKATA: The auto hub at Shalimar in Howrah will come up on about 4.5 acres of railway land, but the details are still being worked out at the Railway Board, senior officials said. It is expected that the land will be leased out to a conglomerate or ...
Tata Motors man at function as Mamata lays foundation for auto hubIndian Express
Mamata lays foundation for first auto logistics hubEconomic Times
Now, Mamata bats for auto firmsBusiness Standard
Calcutta Telegraph -Financial Express -The Hindu
all 29 news articles »

Source: Business - Google News | 28 Nov 2009 | 3:05 pm

Analysts expect next quarter to be better for Tata Steel - Economic Times


The Hindu
Analysts expect next quarter to be better for Tata Steel
Economic Times
MUMBAI: In 2007, Tata Steel acquired Corus for $12 billion, making it the biggest outbound acquisition by an Indian company. It moved Tata Steel up the pecking order in an industry where having large capacities remains critical. ...
Dip in prices, Corus restructuring deepen Tata Steel lossesMoneycontrol.com
Tata to cut Corus flab; Teesside future bleakFinancial Express
Tata Steel erases losses, ends flatBusiness Standard
SteelGuru -India Infoline.com -Calcutta Telegraph
all 86 news articles »

Source: Business - Google News | 28 Nov 2009 | 12:48 pm

Indian women have a bigger share of the corner office

Indian women may not have proportionate representation in companies, but they are better off than women elsewhere. Eleven per cent of 240 large companies Indian-owned as well as multinational, private as well as state-owned have women CEOs, according to a study carried out by executive search firm EMA Partners. In comparison, only 3 per cent of the Fortune 500 companies have women CEOs.
Source: Business Standard | Front Page Headlines | 28 Nov 2009 | 12:09 pm

All that wood and crafty swindlers beware

Buying furniture can be a tricky business especially if you do not know about problems that occur in wood and the clever ways in which those traders camouflage defects.


Source: HindustanTimes.com - Top Business News Headlines | 28 Nov 2009 | 12:07 pm

Pay for emission cuts: India

India, China, Brazil and South Africa today issued a joint press release, according to website reports, to indicate that developed nations should be willing to contribute funds and share green technology if they want developing and poor nations to take adequate steps to protect the climate.
Source: Business Standard | Front Page Headlines | 28 Nov 2009 | 12:06 pm

L, NPCIL set to join hands

Larsen & Toubro (L&T) is forming a joint venture with state-owned Nuclear Power Corporation of India (NPCIL) to explore co-operation in manufacturing and setting up of nuclear power plants as a part of India's ambitious nuclear development programme.
Source: Business Standard | Front Page Headlines | 28 Nov 2009 | 12:04 pm

Servers crash CAT's date with mouse

The maiden attempt by the Indian Institutes of Management (IIMs) to make aspirants take the Common Admission Test (CAT) on computers ran into technical snags on the very first day when some servers in 11-odd centers crashed. While there was no official confirmation about the number of affected students, test-preparation institutes estimated that over 300 students could not sit for the examination.
Source: Business Standard | Front Page Headlines | 28 Nov 2009 | 11:58 am

Support seen below 4700 - Business Standard


Indian Express
Support seen below 4700
Business Standard
The Nifty opened gap-down on Friday and broke many crucial supports in the process, indicating that its further decline will be quite intense. Technical analysts are cautious about its upside, as the index is trading around 20 of its daily moving ...
Sensex down 2.29 per cent from last weekHindustan Times
US stocks plunge on Dubai's debt woesSify
Rupee recovers 22 paise as market sentiment improvesEconomic Times
IBNLive.com -CNNMoney.com -Wall Street Journal
all 984 news articles »

Source: Business - Google News | 28 Nov 2009 | 11:26 am

Uttarakhand seeks Rs.10,000 crore central package

Uttarakhand Chief Minister Ramesh Pokhriyal Saturday sought a Rs.10,000 crore annual package from the central government for the upkeep of the state's natural heritage.
Source: IndiaeNews.com: Business News | 28 Nov 2009 | 11:00 am

Win vegetables at Jaspal Bhatti's inflation stall

Even as Finance Minister Pranab Mukherjee was delivering a lecture here Saturday on the revival of the Indian economy, Punjabi comedian Jaspal Bhatti was poking fun at the government's failure to control inflation.
Source: IndiaeNews.com: Business News | 28 Nov 2009 | 11:00 am

Canada\'s Flaherty says G7 monitoring Dubai fallout

The Group of Seven (G7) countries has discussed the potential fallout on the global financial system from Dubai\'s delayed debt payments, Canadian Finance Minister Jim Flaherty said on Friday.
Source: Moneycontrol Top Headlines | 28 Nov 2009 | 9:26 am

Mamata lays foundation stone for auto transit hub in Bengal

Railway Minister Mamata Banerjee Saturday laid the foundation stone for an automobile transit hub in West Bengal's Howrah district and announced that nine other such complexes will be developed in other states on land belonging to the railways.
Source: IndiaeNews.com: Business News | 28 Nov 2009 | 9:00 am

Experts play matchmakers; debate ideal PSU bank fits

S Narayan, former Finance Secretary, Joydeep Sengupta, Partner at McKinsey and AK Purwar, former Chairman of SBI debate the perfect PSU bank fits and the road ahead for the sector.
Source: Moneycontrol Top Headlines | 28 Nov 2009 | 7:11 am

'Himachal Pradesh does good business in trade fair'

Himachal Pradesh-based companies have done good business during the India International Trade Fair (IITF) held in New Delhi Nov 14-27, an official said here Saturday.
Source: IndiaeNews.com: Business News | 28 Nov 2009 | 7:03 am

Kerala asks Smart City developer to stick to agreement

Kerala Chief Minister V.S. Achuthanandan Saturday asked Smart City Dubai, the developer of a proposed IT park here, to stick to the framework agreement or else the government would 'look for other options'.
Source: IndiaeNews.com: Business News | 28 Nov 2009 | 7:02 am

Force India stick with Sutil and Liuzzi for 2010

Germany\'s Adrian Sutil and Italian Vitantonio Liuzzi will drive for Force India again in 2010, the Formula One team said on Friday.
Source: Moneycontrol Top Headlines | 28 Nov 2009 | 6:32 am

IBA agrees on second pension option, wage hike

The Indian Banks Association has finally signed a wage agreement with the United Forum of Bank Unions (UFBU) – the union, which covers officers and clerical staff.
Source: Moneycontrol Top Headlines | 28 Nov 2009 | 5:13 am

Bullion market insulated from Dubai debt heat, rebounds

Mumbai: The bullion market bounced back on Saturday from its overnight sell-off regaining its lost ground on fresh buying by stockists and traders at current attractive levels.
Both the precious metals fell prey to Friday’s financial turbulence which dragged down markets across the globe on concerns over Dubai’s debt payment crisis.
“Today’s meaningful recovery came in the backdrop of government’s assurance that country’s economy is insulated to current crisis,” traders said.
“Yesterday’s (Friday’s) fall was a mere correction which was overdue at anytime considering gold’s steep rise and Dubai debt crisis was made a scape-goat,” they added.
Standard gold (99.5 purity) recovered smartly by Rs210 per ten grams to close at Rs17,825 from its previous closing level of Rs17,615.
Pure gold (99.9 purity) also shot up by Rs205 per ten grams to end at Rs17,910 as against Rs17,705 previously.
Silver ready (.999 fineness) firmed up by Rs280 per kilo to finish at Rs29,055 from Rs28,775 on Friday.

Source: Home - Livemint.com | 28 Nov 2009 | 4:51 am

Abu Dhabi likely to bail out Dubai - NDTV.com


Globe and Mail
Abu Dhabi likely to bail out Dubai
NDTV.com
PTI Concerns about Dubai's potentially crippling default on enormous debts to global creditors have rattled investor confidence across the oil-exporting Gulf region but Abu Dhabi will come to the rescue, says a leading economist in the region. ...
Recession and debt dissolve Dubai's mirage in the desertguardian.co.uk
Dubai World May Pay Nakheel Sukuk by Deadline, National SaysBloomberg
Dubai World mulls four options of debt repaymentXinhua
Reuters -Wall Street Journal -Hindu
all 5,436 news articles »

Source: Business - Google News | 28 Nov 2009 | 4:40 am

Sensex down 2 29 per cent from last week

Losses in Indian equities were widespread this week, prompted first by profit booking and then in a big way by a debt default fear on the part of Dubai World. Benchmark indices fell sharply in the last two trading days in sync with bourses across the world.
Source: HindustanTimes.com - Top Business News Headlines | 28 Nov 2009 | 4:31 am

Honda city sells 50,000 units in 12 months

Honda city one of the most popular cars in the Indian market has crossed record sales by selling 50,000 units in just 12 months.
Source: Moneycontrol Top Headlines | 28 Nov 2009 | 4:00 am

Abu Dhabi to aid Dubai “case by case”

Abu Dhabi: Abu Dhabi, capital of the United Arab Emirates and one of the world’s top oil exporters, will “pick and choose” how to assist its debt-laden neighbour Dubai, a senior Abu Dhabi official said on Saturday.
“We will look at Dubai’s commitments and approach them on a case-by-case basis. It does not mean that Abu Dhabi will underwrite all of their debts,” the official in the government of the emirate of Abu Dhabi told Reuters by phone.
A policy of selectively assisting cash-strapped companies affiliated with the government of Dubai, instead of providing blanket assistance, challenges assumptions made by many investors who assumed that wealthy Abu Dhabi provided a complete safety net for its racier neighbour.
Dubai’s crisis exploded on Wednesday when the emirate, known for flashy lifestyles and the world’s tallest building, said it would delay payment on debt issued by one of its flagship firms, angering investors and sending global markets sharply lower.
“Some of Dubai’s entities are commercial, semi-government ones. Abu Dhabi will pick and choose when and where to assist,” said the official, who declined to be identified because he is not authorised to speak to the media.
Abu Dhabi, which pumps 90% of the oil that make the United Arab Emirates the world’s third-largest oil exporter, has already provided $15 billion in indirect support for Dubai through the UAE central bank and two private Abu Dhabi banks.
How much more support the emirate provides for its cash-strapped neighbour, however, will depend on how Dubai clarifies its stand on unresolved issues.
“Until things become clearer, it is very difficult to make any further investment decision on the bonds. Many things have to be clarified by Dubai,” the official said.
Central bank monitoring
The UAE central bank said it was closely watching events stemming from the Dubai debt crisis to ensure no harm results for the national economy, a spokesman for the central bank said on Saturday.
“The central bank is monitoring developments very carefully to ensure that there is no negative impact on the UAE economy,” the spokesman told Reuters by phone.
Constitutionally, each emirate in the UAE is a separate legal entity within the loose federation, and each controls its own natural and financial resources. The federal government has no guaranteed access to those resources nor is it obliged to underwrite the liabilities of any emirate.
International markets were rocked when Dubai said on Wednesday it was instigating a major restructuring at one of its biggest holding companies, Dubai World.
As part of the restructuring programme, investors have been advised of a “standstill” in repayment of flagship real estate developer Nakheel’s $3.5 billion Islamic bond, or sukuk, due for maturity on 14 December.
Dubai World had $59 billion of liabilities as of August, making up the majority of Dubai’s total debt of $80 billion. International banks’ exposure related to Dubai World could reach $12 billion in syndicated and bilateral loans, banking sources told Thomson Reuters LPC.
A statement from the Dubai government is expected on Monday, when the markets reopen following an extended break for Eid, a religious holiday observed across the Gulf region.

Source: World Business - Livemint.com | 28 Nov 2009 | 3:45 am

Abu Dhabi to aid Dubai “case by case”

Abu Dhabi: Abu Dhabi, capital of the United Arab Emirates and one of the world’s top oil exporters, will “pick and choose” how to assist its debt-laden neighbour Dubai, a senior Abu Dhabi official said on Saturday.
“We will look at Dubai’s commitments and approach them on a case-by-case basis. It does not mean that Abu Dhabi will underwrite all of their debts,” the official in the government of the emirate of Abu Dhabi told Reuters by phone.
A policy of selectively assisting cash-strapped companies affiliated with the government of Dubai, instead of providing blanket assistance, challenges assumptions made by many investors who assumed that wealthy Abu Dhabi provided a complete safety net for its racier neighbour.
Dubai’s crisis exploded on Wednesday when the emirate, known for flashy lifestyles and the world’s tallest building, said it would delay payment on debt issued by one of its flagship firms, angering investors and sending global markets sharply lower.
“Some of Dubai’s entities are commercial, semi-government ones. Abu Dhabi will pick and choose when and where to assist,” said the official, who declined to be identified because he is not authorised to speak to the media.
Abu Dhabi, which pumps 90% of the oil that make the United Arab Emirates the world’s third-largest oil exporter, has already provided $15 billion in indirect support for Dubai through the UAE central bank and two private Abu Dhabi banks.
How much more support the emirate provides for its cash-strapped neighbour, however, will depend on how Dubai clarifies its stand on unresolved issues.
“Until things become clearer, it is very difficult to make any further investment decision on the bonds. Many things have to be clarified by Dubai,” the official said.
Central bank monitoring
The UAE central bank said it was closely watching events stemming from the Dubai debt crisis to ensure no harm results for the national economy, a spokesman for the central bank said on Saturday.
“The central bank is monitoring developments very carefully to ensure that there is no negative impact on the UAE economy,” the spokesman told Reuters by phone.
Constitutionally, each emirate in the UAE is a separate legal entity within the loose federation, and each controls its own natural and financial resources. The federal government has no guaranteed access to those resources nor is it obliged to underwrite the liabilities of any emirate.
International markets were rocked when Dubai said on Wednesday it was instigating a major restructuring at one of its biggest holding companies, Dubai World.
As part of the restructuring programme, investors have been advised of a “standstill” in repayment of flagship real estate developer Nakheel’s $3.5 billion Islamic bond, or sukuk, due for maturity on 14 December.
Dubai World had $59 billion of liabilities as of August, making up the majority of Dubai’s total debt of $80 billion. International banks’ exposure related to Dubai World could reach $12 billion in syndicated and bilateral loans, banking sources told Thomson Reuters LPC.
A statement from the Dubai government is expected on Monday, when the markets reopen following an extended break for Eid, a religious holiday observed across the Gulf region.

Source: LatestNews-Home - Livemint.com | 28 Nov 2009 | 3:45 am

India won’t be affected much by Dubai crisis: Pranab

Chandigarh: Dubai’s debt crisis will not affect India much but the government is keeping a close watch and will act to prevent any fallout, the finance minister said on Saturday.
“The impact cannot be much as our stake is so small and the amount involved compared to the world economy is miniscule,” Pranab Mukherjee told reporters in the northern city of Chandigarh, where he was delivering a lecture.
“Watchful and effective intervention at the appropriate time can avert some immediate crisis,” he said.
Indian stocks and the rupee were rattled on Friday after Dubai’s woes stoked fears over corporate exposure to a key trading partner and that foreign funds would lose their appetite for risk.
The United Arab Emirates (UAE), of which Dubai is part, is the second-biggest export destination for India and accounts for 10-12% of India’s inward remittances.
Mukherjee said the emirate’s problems could force a return of Indian citizens, who make up more than 40% of the UAE’s population.
Stimulus unsustainable
Mukherjee said the stimulus measures that buoyed the economy in the wake of the financial crisis were unsustainable and the government would have a roadmap by December to consolidate its fiscal position over the next five years.
The firefighting policies by Asia’s third-largest economy have contributed to a bulging of the fiscal deficit to a projected 6.8% of GDP for 2009-10.
“This level of fiscal expansion can only be a short-term response and is unsustainable on a long-term basis,” Mukherjee said in his speech.
Prime Minister Manmohan Singh has said India would likely wind down its stimulus measures next year.
The Reserve Bank of India has already started what it calls the first phase of the exit from its easy monetary policy, worried about inflationary pressures.
India’s economy was set to grow at 6-7% in the financial year to March and the government was efforting a return to the 9% growth rate seen before the crisis clipped the pace of expansion, Mukherjee said.
The worst of the financial crisis seemed to be over and there would not be a lasting impact on India’s development outlook over the medium to long term, he said.
“The caveat is a sustained recovery of the developed countries from the current crisis,” he said.
Mukherjee also said the central bank had intervened in the forex markets to stabilize the rupee after the crisis.

Source: LatestNews-Home - Livemint.com | 28 Nov 2009 | 3:23 am

Recession hits steel scrap supply in 2009, 2010

Global scrap supply will fall in 2009 as the economic downturn hits recycling activity and next year the developed world\'s recovery will be key for scrap availability.
Source: Moneycontrol Top Headlines | 28 Nov 2009 | 3:21 am

Valecha Eng board raising up to $20 million

Valecha Engineering said on Friday its board has approved raising up to USD20 million via equity or debt from Indian or overseas markets.
Source: Moneycontrol Top Headlines | 28 Nov 2009 | 3:21 am

Indian bond yields up on profit taking, RBI talk

Indian federal bond yields snapped a twoday losing streak on Friday and ended higher on profit taking ahead of the weekend, also supported by slightly hawkish words from the Reserve Bank of India governor.
Source: Moneycontrol Top Headlines | 28 Nov 2009 | 3:21 am

Tata Motors in profit as Jaguar`s outlook brightens

Tata Motors reported a return to operating profit for its British Jaguar Land Rover unit as cost cuts begin to bear fruit and new models attract buyers.
Source: Moneycontrol Top Headlines | 28 Nov 2009 | 3:21 am

India utilities move to coal indexpricing

Indian state utilities are leading a switch to coal indexlinked pricing from fixed prices to secure imports and to be visibly paying fair market prices, utilities and analysts said.
Source: Moneycontrol Top Headlines | 28 Nov 2009 | 3:21 am

Dubai crisis will not affect NCCL Murthy

City-based Nagarjuna Construction Company Limited (NCCL) has said that the Dubai debt crisis will not affect it, as the projects it undertook there belonged to Governmental agencies.
Source: HindustanTimes.com - Top Business News Headlines | 28 Nov 2009 | 3:20 am

Gold rises by Rs 90, silver jumps Rs 600 a kg

Gold prices rose by Rs 90 per 10 gram and silver rates jumped by Rs 600 a kg in the bullion market here on fresh buying on Saturday, a day after the precious metal crashed on concerns over Dubai debt crisis.
Source: India Business News | Business News - Times of India | 28 Nov 2009 | 3:10 am

British firm Atlantis mulls tidal power project in Gujarat

London/New Delhi: British energy company Atlantis Resources has said it is assessing the viability of a 100 MW tidal power project in Gujarat.
The company has particular interest in the Gulf of Kutch and the Gulf of Khambhat areas, according to the information available on the company website.
Earlier in the day, the British daily ‘The Times’ also has reported that Atlantis has “forged a deal with Gujarat, under which the company will establish the feasibility of developing tidal power projects.”
India has more than 7,240 km of coastline and is scrambling to tackle a gaping power deficit but has yet to establish a single tidal power project, the daily said.
Tidal current power is a form of clean energy, which is generated through the gravitational attraction between the sun and moon, creating high and low tides. Tidal current energy takes the kinetic energy in these tidal currents and converts it into renewable electricity.
Moreover, demand for electricity in India is likely to increase more than five-fold by 2030 the report said citing a study by McKinsey.

Source: LatestNews-Home - Livemint.com | 28 Nov 2009 | 2:43 am

India won't be affected much by Dubai crisis: Pranab

Finance minister Pranab Mukherjee said Dubai's debt crisis will not affect India much but the govt is keeping a close watch. The problem could force a return of Indian citizens, who make up over 40% of UAE's population.
Source: India Business News | Business News - Times of India | 28 Nov 2009 | 2:00 am