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87.37 mn new jobs likely by 2015: Assocham!The manufacturing sector is likely to generate 27.95 million jobs by 2015, according to a study.Source: Zee News : Business | 14 Mar 2010 | 6:57 am Sebi charges incorrect; will clarify soon: Tayal Group - Business Standard
Source: Business - Google News | 14 Mar 2010 | 4:05 am Muthoot to set up home loan subsidiary; drops banking forayThe group plans to invest around Rs100 crore over the next two years in the new venture -- Muthoot Housing Finance Limited -- which would be set up as a wholly-owned subsidiary of Muthoot Fin Corp.Source: Daily News & Analysis: Money News | 14 Mar 2010 | 1:09 am Seven of top-10 cos lose Rs32k cr in a week; NMDC major loserMumbai: In a volatile trade last week, when the Sensex soared to a seven-week high level of over 17,000 points, seven out of top-10 firms lost over Rs32,000 crore from their market capitalization, with NMDC losing the most. However, three firms -- Reliance Industries, Infosys Technologies and TCS -- together added Rs10,833 crore to their market valuation for the week ended 13 March. State-owned mining giant NMDC, which came out with 33.22 crore shares under its follow-on public offer got subscribed 1.25 times on the final day, saw its valuation decline by Rs21,469 crore, taking its total valuation to Rs1,42,868 crore. Shares of the mining giant plunged 12.49% to close at Rs362.70 on the Bombay Stock Exchange at the end of Friday’s trade. During the week, the 30-share benchmark index Sensex had touched the seven-week high level of 17,167.96 points. The market traded in a narrow range but managed to move 172.13 points up this week to close at 17,166.62 points, down 0.01% at the end of Friday’s trade on the BSE. The Country’s most valued firm Reliance Industries, maintained its numero-uno position by adding Rs2,158.34 crore in its valuation, taking its total market capitalization (m-cap) to Rs3,32,433.2 crore. Two state-run firms -- ONGC and NTPC -- together lost Rs4,782 crore from their market valuation. Source: LatestNews-Home - Livemint.com | 14 Mar 2010 | 1:09 am GoAir to add 200 flights, plans to take two aircraft on leaseMumbai: The Wadia group-promoted budget air-carrier Go Air plans to add 200 flights to its summer schedule, starting from 29 March, according to a source. This will take the total number of flights being operated by the carrier to 1,850 per month. “We are adding 200 flights to our network in the summer schedule. This translates into an over 10% capacity addition,” the source told PTI. At present, GoAir operates 1,650 flights a month. The airline also plans to add two new destinations from 6 April -- Nagpur and Nanded in Maharashtra -- as both these cities offer a good business potential, the source said. “On Tuesdays and Thursdays, the service will operate between Delhi-Nagpur-Nanded-Mumbai. On the rest of the days, the service will be between Delhi-Nagpur-Mumbai,” the source said. GoAir is also eyeing Pune in Maharashtra and has applied to the authorities to provide slots at the Pune airport, the source said. “We have requested for a slot in Pune and we hope that in the next three months, we will be able to launch a service to the city,” the source said. “The air-carrier is keen to expand its footprint in Maharashtra and Aurangabad in the state is also on the radar,” the source said. GoAir has a firm order for two aircraft -- Airbus 320, the source said. The budget airline is presently in negotiations with a few players to take two aircraft on dry lease on a short-term contract of up to two-years, the source said. Source: LatestNews-Home - Livemint.com | 14 Mar 2010 | 1:03 am 7 of top 10 cos lose Rs 32k cr in a week; NMDC major loserIn a volatile trade last week, when the Sensex soared to a seven-week high level of over 17,000 points, seven out of top-10 firms lost over Rs 32,000 crore from their market capitalisation, with NMDC losing the most.Source: India Business News | Business News - Times of India | 14 Mar 2010 | 12:50 am China's Wen pushes back against yuan rise callsBEIJING (Reuters) - Chinese Premier Wen Jiabao on Sunday spurned foreign calls for the yuan to rise and showed no let up in scolding the United States over recent bilateral tensions.Source: Reuters: Money News | 14 Mar 2010 | 12:32 am How free markets sank the U.S. economyNEW YORK (Reuters) - Two years ago, a poisonous brew of bad economics, lax regulation, and egregious behaviour boiled over, scalding the financial system and pitching the United States into its steepest downturn since the Great Depression.Source: Reuters: Money News | 14 Mar 2010 | 12:31 am Lehman report may point way for criminal chargesWASHINGTON (Reuters) - An explosive report by a court-appointed examiner on the collapse of Lehman Brothers may prove to be a roadmap for prosecutors to bring criminal cases against the investment bank's former executives, legal experts say.Source: Reuters: Money News | 14 Mar 2010 | 12:24 am India may become global software superpower by 2020 GartnerIndia can well become the 'software superpower' of the world by 2020, but all depends on investments in workforce development and country-level infrastructure, a report by IT research firm Gartner said.Source: HindustanTimes.com - Top Business News Headlines | 14 Mar 2010 | 12:20 am Economy faces challenges in short term DeloitteThe economy might have weathered the the global slowdown successfully so far, but it faces challenges in the next three quarters, especially with high inflation and fragile worldwide recovery, says leading global consultancy Deloitte.Source: HindustanTimes.com - Top Business News Headlines | 14 Mar 2010 | 12:15 am Job security more imp for graduates than pay benefits KPMGThe uncertain economic environment has made job security a top priority rather than pay and benefits for graduates across the globe, most of whom are willing to work internationally immediately after studies, says a report.Source: HindustanTimes.com - Top Business News Headlines | 14 Mar 2010 | 12:15 am India to seek higher US mkt for gems jewellery handicraftsThe Commerce Ministry will impress upon the US trade office to facilitate increase in imports of gems and jewellery and handicrafts to the US from India, on the back of revival in the American economy.Source: HindustanTimes.com - Top Business News Headlines | 14 Mar 2010 | 12:13 am Clarity sought in disbursement of funds on climate changeWith billions of dollars expected to flow into climate change initiatives across the globe, Berlin-based Transparency International (TI), at the recent Group-20 summit, advocated a transparent disbursement of publicSource: Business Line - Home Page | 14 Mar 2010 | 12:00 am M&M bets big on truck business with NavistarMahindra & Mahindra is betting big on its commercial vehicle business with Navistar of the US. In the process, the company has also drafted a business plan where trucks in the 0.5-tonne to 3.5-tonne range will be branded M&M while thoseSource: Business Line - Home Page | 14 Mar 2010 | 12:00 am Legislators must ensure public money is not wastefully used: ManmohanIndia needs a more educated people, a more efficient economy and a more equitable society, said the Prime Minister, Dr ManmohanSource: Business Line - Home Page | 14 Mar 2010 | 12:00 am DGCA asks carriers to reinstate travel agents commissionHappy times may be back for travel agents with commissions coming back, but international airlines are yet to take a call on the Directorate-General of Civil Aviation's (DGCA) recent directive. The regulator had asked international carriers toSource: Business Line - Home Page | 14 Mar 2010 | 12:00 am Banks go over board on RBI's advisory on fake currencyIf your bank rejects any of your currency notes in the Rs 1,000 or Rs 500 denomination on the suspicion of it being fake, you have a right toSource: Business Line - Home Page | 14 Mar 2010 | 12:00 am Mahindra opens Rs 5,000-cr ‘green' Chakan facilityTwenty-two months after work on it began, Mahindra Chakan, a greenfield facility set up by automaker Mahindra and Mahindra Ltd (M&M) at Chakan, was inaugurated today by the Maharashtra Chief Minister, Mr AshokSource: Business Line - Home Page | 14 Mar 2010 | 12:00 am Central Universities will have more autonomy: Kapil SibalThe 22 Central Universities in the country will be given more autonomy in recruitment and building up additional capacities in revenue and otherSource: Business Line - Home Page | 14 Mar 2010 | 12:00 am Bangalore law grads turn London restauranteursIt's a sunny winter afternoon in London and Bangalore Law School graduate Matthew Chandy, 31, is tapping away at a computer in his “office” — a cheerful 820 sq ft restaurant on Frith Street in London's trendy SohoSource: Business Line - Home Page | 14 Mar 2010 | 12:00 am Govt may not lift export ban on select food itemsThe Government may not lift the ban on export of non-basmati rice, wheat, pulses and edible oil at least till the food inflation cools down, Commerce Ministry sources told BusinessSource: Business Line - Home Page | 14 Mar 2010 | 12:00 am PSUs drive a hard bargain on investment banking feesRural Electrification Corporation (REC) hit the primary market in February and mobilised close to Rs 2,650 crore from both retail and institutionalSource: Business Line - Home Page | 14 Mar 2010 | 12:00 am 87.37 million new jobs likely by 2015: AssochamIndustry body Assocham has said that 87.37 million new jobs will be created in India by 2015 with the manufacturing sector contributing the most on the back of recovery in the economy.Source: India Business News | Business News - Times of India | 13 Mar 2010 | 11:57 pm GoAir to add 200 flights plans to take two aircraft on leaseThe Wadia group-promoted budget air-carrier, Go Air, plans to add 200 flights in its summer schedule, starting from March 29.Source: HindustanTimes.com - Top Business News Headlines | 13 Mar 2010 | 11:49 pm Govt mulls divesting 10 pc stake in Nalco - Press Trust of India
Source: Business - Google News | 13 Mar 2010 | 11:27 pm Orissa locks horns with Centre; says Vedanta projects within lawNew Delhi: In sharp contrast to the Centre’s assertion that Vedanta Resources’ proposed mining project in Orissa’s Niyamgiri hills violated green and tribal norms, the state said the Anil Agarwal-led group’s plans were within the ambit of the law. In two separate letters this month to officials of the Union Ministry of Environment and Forests, Orissa’s Forest and Environment Department special secretary B.P. Singh said the proposed mining by Vedanta Resources jointly with Orissa Mining Corporation (OMC) is not in violation of “any Act”. “Since the project area spreads over two separate districts -- Rayagada and Kalahandi -- the collectors of these two districts..., have furnished the relevant certificates pertaining to compliance with provisions of the Forest Rights in respect of the land falling within their jurisdiction. When contacted, Orissa’s Forest and Environment principal secretary Upendra Behera said, “Yes we have written letters to the Union government to inform them about the findings of the two collectors that in the 660.740 hectares of land there has been no claim from any tribal or traditional forest dweller.” Vedanta Aluminium Limited, Lanjigarh, COO Mukesh Kumar said, “The Orissa government on 11 March 2010, sent two letters to the Environment and Forests Ministry submitting there is no violation of Forest Conservation Act.” Union Environment and Forest minister Jairam Ramesh on Friday said that the JV partners have violated certain environment norms. The JV was formed for bauxite mining. Singh further said, “In view of the above position of compliance by the Collectors, it is requested that the... (Union) Ministry of Environment and Forests (MoEF) may kindly take into consideration of the same and process the matter further to accord final forest clearance for diversion of 660.749 hectares of forest land for the project,“ Singh said. He added, “Based on the report of the Regional Chief Conservator of Forests, Bhawanipatna, the chief conservator of Forests (Forest Diversion) and nodal officer...Orissa, in his letter dated 3 December 2009 has reported that no construction and mining work has started either in non-forest area or forest area of the lease area.” Kumar said the Orissa government was of the view that there was no violation of the Forest Rights Act in the region and all the norms have been complied with by Vedanta. The state government’s assertion is against the views of Union Environment minister Jairam Ramesh, who on Friday said: “I can say that they have violated Forest Rights Act, without taking consideration of the tribal rights.” “Another area where my ministry had problem was that it had started construction work in the land that belonged to the revenue department, though the project had not received clearance,” Ramesh had said. The bauxite mining project at Niyamgiri hills is proposed to be undertaken by a joint venture between Vedanta Aluminium Ltd, and OMC which owns the mining lease in the region. The JV needs about 721 hectares of land in the region for mining, of which about 660 hectares falls in the forest area, for which final clearance from the Centre is required. Source: LatestNews-Home - Livemint.com | 13 Mar 2010 | 11:25 pm GoAir to add 200 flights, plans to take two aircraft on leaseThe Wadia group-promoted budget air-carrier, GoAir, plans to add 200 flights in its summer schedule, starting from March 29.Source: India Business News | Business News - Times of India | 13 Mar 2010 | 11:00 pm Delhi beat Kings XI Punjab by five wickets in IPL thrillerMohali: Skipper Gautam Gambhir led the batting charge with a brilliant 54-ball 72 as Delhi Daredevils opened their Indian Premier League campaign on a winning note snatching a five-wicket victory over Kings XI Punjab in a thrilling encounter. Delhi first restricted the Punjab side to 142 for nine, thanks to nice bowling by pacer  Delhi Daredevils’ Gautam Gambhir plays a shot against Kings XI Punjab during their IPL-3 cricket match in Mohali on Saturday. Aman Sharma / PTI Gambhir, who raced to his half-century off 40 balls, hit nine boundaries and one six, while he got good support from Mithun Manhas, who came out with an unbeaten 31 off 24 balls. With 17 runs required from the last two overs, Manhas first cracked a four off Yusuf Abdulla and then Gambhir hit him for a huge six over the long-off region. But left-arm pacer Irfan Pathan struck in the final over, off which Delhi needed four runs to win, removing Gambhir as Mahela Jayawardene took a well-judged catch. With the scores leveled and two balls to go, Manhas finished the match with a brilliant square cut that sent the ball to the fence. Delhi made 146 for five. However, chasing the 143-run target Delhi started on a disastrous note as they lost two wickets in the second over of the innings in the form of opener Virender Sehwag (8) and their Sri Lankan import Tillakaratne Dilshan (0). Source: LatestNews-Home - Livemint.com | 13 Mar 2010 | 10:48 pm Pvt companies back as top recruiters in city B schoolAfter a lull, students of a B-School in New Delhi have witnessed better campus placement this year with the average salary package going above Rs 1.5 crore per annum.Source: HindustanTimes.com - Top Business News Headlines | 13 Mar 2010 | 10:42 pm Security increased of Air India flights in AfghanistanWith Indians and their assets in Afghanistan coming under constant attack from Taliban and Al-Qaeda, Air India has beefed up security in flights to and from Kabul following information that it was a "sitting duck" for terror groups.Source: HindustanTimes.com - Top Business News Headlines | 13 Mar 2010 | 10:14 pm Mumbai Indians survive Pathan blitzkrieg, upset Rajasthan RoyalsMumbai: A marauding Yusuf Pathan was not enough to stop Mumbai Indians from clinching a thriller as they managed a four-run victory over Rajasthan Royals in their opening match of the Indian Premier League on Saturday in Mumbai. The senior Pathan slammed an astonishing nine sixes and eight fours while making exactly 100 runs in 37 balls to bring the Royals on the doorstep of a brilliant victory after Mumbai Indians made 212 for six. But after his dismissal, the Royals were stopped in their tracks.  Stretched out: Mumbai Indians’ Rayudu plays a shot against Rajasthan Royals during their IPL T20 match at the Brabourne Stadium in Mumbai on Saturday. Shirish Shete / PTI But the marauder from Baroda was run out in the first ball of the 18th over and the rest of the batting order could not provide the finishing touch. Needing 12 runs in the last over bowled by Lasith Malinga, the Royals ended at 208 for seven after losing Dogra and Amit Uniyal in the first two balls. Dmitry Mascarenhas and captain Shane Warne could not complete the job. Earlier fine half centuries from Ambati Rayudu (55) and Saurabh Tiwary (53) following a sound start piloted Mumbai Indians to their highest-ever IPL total. Brief scores: Mumbai Indians: 212 for six in 20 overs (Ambati Rayudu 55, Saurabh Tiwary 53, Dmitri Mascarenhas 2/34). Rajasthan Royals: 208 for seven in 20 overs (Yusuf Pathan 100, Paras Dogra 41; Lasith Malinga 2/22). Source: LatestNews-Home - Livemint.com | 13 Mar 2010 | 10:12 pm HIGHLIGHTS - China's Premier Wen says will keep yuan stableBEIJING (Reuters) - Chinese Premier Wen Jiabao spoke to reporters at a news conference to mark the end of China's annual parliament meeting.Source: Reuters: Money News | 13 Mar 2010 | 9:51 pm Ifo's Sinn warns EMF could endanger euroMUNICH, Germany (Reuters) - A European Monetary Fund risks skewing the incentives of debt-ridden euro zone countries thereby endangering the stability of the euro, the head of Ifo think tank told Reuters in an interview.Source: Reuters: Money News | 13 Mar 2010 | 8:25 pm EXCLUSIVE - Republicans say door open on U.S. financial reformWASHINGTON (Reuters) - A bipartisan financial regulation reform bill could still be worked out in the U.S. Senate, despite a breakdown in negotiations, key Republicans said in a letter obtained by Reuters on Saturday.Source: Reuters: Money News | 13 Mar 2010 | 8:14 pm Reuters interview with Ifo head Hans-Werner SinnMUNICH, Germany (Reuters) - The head of the Ifo economic research institute told Reuters in an interview a European Monetary Fund risked skewing the incentives of debt-ridden euro zone countries, thereby endangering the euro.Source: Reuters: Money News | 13 Mar 2010 | 8:09 pm France's Lagarde not expecting decision on GreeceNEW YORK (Reuters) - French Economy Minister Christine Lagarde said on Saturday that she does not expect Euro zone finance ministers to make any decision on financial help for Greece when they meet next week.Source: Reuters: Money News | 13 Mar 2010 | 7:16 pm Tax holiday deadline for hotels now July 31In an effort to spur growth in the hospitality sector, the government has extended the deadline for five-year tax holiday from March 31 to July 31, 2010.Source: India Business News | Business News - Times of India | 13 Mar 2010 | 2:58 pm Ex-servicemen students at IIM gear up for corporate jobs - Indian Express
Source: Business - Google News | 13 Mar 2010 | 2:53 pm Commission restored to travel agents - The Hindu
Source: Business - Google News | 13 Mar 2010 | 2:38 pm Indian call centres for the poorer customers onlyAffluent account holders at Barclays bank will be connected to British call centres while struggling customers will get Indian ones.Source: Daily News & Analysis: Money News | 13 Mar 2010 | 1:35 pm National finances don t allow rollback of fuel prices DeoraPetroleum minister Murli Deora on Saturday said here that the country should stop talking about rolling back the fuel price hike as the nation's financial condition does not allow that to do so. Source: HindustanTimes.com - Top Business News Headlines | 13 Mar 2010 | 12:59 pm SBI General Insurance to start operations next monthThe State Bank today said its proposed general insurance venture, SBI General Insurance Company, a joint venture with the Insurance Australia Group will commence operations from next month.Source: HindustanTimes.com - Top Business News Headlines | 13 Mar 2010 | 12:59 pm M&M bets big on truck business with Navistar - Hindu Business Line
Source: Business - Google News | 13 Mar 2010 | 12:26 pm Entertainment channels guard their wicket with a dozen new showsGeneral entertainment channels (GECs) are beefing up their content line-up and investing in ground activities to retain eyeballs, many of which may move away now that the Indian Premium League (IPL) has started. During the two previous seasons of the tournament, GEC viewership dropped 10 to 30 per cent in the period between eight and 11 in the evening, when many matches were played (see chart).Source: Business Standard | Front Page Headlines | 13 Mar 2010 | 12:20 pm SET Max triumphs in Riders-Chargers duelAs last years bottom team Kolkata Knight Riders defeated defending champion Deccan Chargers in the opening match of the Indian Premier League (IPL) on Friday, broadcaster SET Max emerged triumphant with a higher television viewer rating (TVR) than what the opening matches of the two previous editions of this tournament had managed.Source: Business Standard | Front Page Headlines | 13 Mar 2010 | 12:19 pm Godrej lavishes Rs 500 cr on Nigerian beauty brandGodrej Consumer Products Ltd (GCPL) today said it had entered into an agreement to acquire Nigerian beauty brand Tura. The deal size was not disclosed but industry sources said it could be worth Rs 400-500 crore.Source: Business Standard | Front Page Headlines | 13 Mar 2010 | 12:17 pm Govt may shift subsidy burden to ONGC, OIL, GAILUpstream oil and gas companies in the public sector are likely to take an additional hit of Rs 16,000 crore in the current financial year as the government has made no fresh Budgetary provision for meeting the oil subsidy burden and the state-controlled oil marketing companies have no financial cushion to absorb the impact of their under-recoveries.Source: Business Standard | Front Page Headlines | 13 Mar 2010 | 12:14 pm Needed Legal body to protect consumersIndian consumers ko gussa kyon aata hai? The answer lies in the attitude of the trade and industry towards the consumers.Source: HindustanTimes.com - Top Business News Headlines | 13 Mar 2010 | 11:45 am Vedanta violated govt clearances: report - Business Standard
Source: Business - Google News | 13 Mar 2010 | 11:30 am Panel says Indian Airlines-Air India merger 'ill-conceived'Moots two separate wings of Nacil, after the erstwhile airlines.Source: Daily News & Analysis: Money News | 13 Mar 2010 | 11:15 am KV Kamath relives his triumph,\'08 crisis; bets big on IndiaIndias most famous banker, KV Kamath, the Nonexecutive Chairman of ICICI Bank, a man many would call the father of Indian retail banking, gets candid on his journey so far.Source: Moneycontrol Top Headlines | 13 Mar 2010 | 9:24 am Toyota aiming at 10% market share in 6-7 yearsDuring January-February this year, Toyota had sold 11,982 vehicles in India against 5736 last year, a 109% increase year to year.Source: Daily News & Analysis: Money News | 13 Mar 2010 | 7:59 am Are microfinance institutions in a mire?Even as financial inclusion emerges as one of the top goals of government and RBI, MFIs, which are the pioneers of financial inclusion, are finding themselves in a bit of soup, strangely enough for fats growth and for big profits. So are MFIs doing too much too fast? Ramesh Ramanathan, Janalakshmi Financial Services, answers.Source: Moneycontrol Top Headlines | 13 Mar 2010 | 7:58 am Why is education sector attracting money, experts find outAnand Sudarshan, Managing Director and Chief Executive Officer, Manipal Educationthe man who just got Rs 200 crore a few weeks ago and Rajesh Singhal, Managing Partner, Milestone Religare, that has a dedicated educated fund, discuss the opportunities available in education and how this fund could best be put to use.Source: Moneycontrol Top Headlines | 13 Mar 2010 | 7:53 am Godrej Consumer Products buys Nigeria's Tura Group"Tura helps us leapfrog in our endeavour to build a pan-African presence for our core categories such as personal wash and hair care," GCP chairman Adi Godrej said in a statement.Source: Daily News & Analysis: Money News | 13 Mar 2010 | 7:52 am Toyota eyes 10% market share in 6-7 yrsAmidst the mounting recall troubles its parent is facing globally, Toyota has set an ambitious target of cornering 10 per cent share of the domestic market in the next six-seven years, up from the present 3 per cent, Toyota Kirloskar Motor MD Hiroshi Nakagawa said.Source: India Business News | Business News - Times of India | 13 Mar 2010 | 7:12 am All you wanted to know about takeout financingInfrastructure in India faces many roadblocks, one of them is financing. Bank deposits are for one month to five years, so bankers have a problem giving 15 year loans. Takeout financing was expected to bridge this time difference. What is takeout financing?Source: Moneycontrol Top Headlines | 13 Mar 2010 | 7:02 am Godrej buys Nigerian soap brandNew Delhi: Continuing with its global acquisitions spree, leading homegrown FMCG player Godrej Consumer Products on Saturday said it will buy one of the leading African personal care brands, Tura from Nigeria’s Tura Group for an undisclosed sum. The company said the acquisition will serve as a platform for it to enter Nigeria and other West African markets. “Tura helps us leapfrog in our endeavor to build a pan-African presence for our core categories such as personal wash and hair care,” Godrej Consumer Products (GCPL) chairman Adi Godrej said in a statement. The Tura acquisition is the third one by GPCL in the last two years, after Rapidol and Kinky in South Africa. Established in 1986, Tura is one of the market leaders in the personal care segment in Africa. It manufactures and distributes a range of products, including soaps, moisturising lotions and skin-toning creams. “We expect the transaction to provide a tremendous platform for value creation in West Africa,” Godrej said. The acquisition will also provide an opportunity to introduce Godrej products in the West African region. “In addition to significant opportunities in soaps, talcs and skin care, the acquisition will enable us to establish a strong foothold in hair care in Nigeria and other Western African countries,” GCPL managing director Dalip Sehgal said. Godrej Consumer Products had recently got board approval for raising Rs3,000 crore to fund its expansion plans. It has been scouting for acquisitions in the last few years and said it could spend up to Rs 1,000 crore for the purpose. Besides, the company is also eyeing to acquire the global household business of its erstwhile partner, Sara Lee. The firm is buying out Sara Lee’s 51 per cent stake their joint venture Gordej Sara Lee for about Rs 800 crore. Source: Home - Livemint.com | 13 Mar 2010 | 6:42 am Pilot launches country’s first FTTH serviceJaipur: Union minister of state for IT and communications Sachin Pilot on Saturday launched the country’s first Fibre to The Home (FTTH) service at Jaipur. The service jointly offered by BSNL and Aksh Optifibre Ltd will provide multiplay services with high definition content to the corporation’s over 28,000 customers in the city and further allow IPTV service ‘icontol´ to customers to experience 100 MBPS speed internet connection. It is the latest technology and will enable customers to access highspeed Internet and improved quality of data trasfer, Pilot said addressing a gathering on the occasion. He said his department was committed to offering latest technology and quality service while extending IT facilities to remote areas of the country. BSNL chairman and managing director Kuldeep Goyal said the service will deliver 2.5 Gbps for upload as well as download upto distance 20 kms. “This network is highly reliable media to deliver high speed internet, IPTV and telephone services. It is capable of delivering high end services like video surveillance, interactive education and online interactive multiplayer gaming,” Goyal said, adding that the BSNL has also launched promotional plans for customers to avail the service. Source: LatestNews-Home - Livemint.com | 13 Mar 2010 | 6:22 am L&T fined for taking out sand without approval: Guj govtGujarat government has asked leading business conglomerate L&T to pay Rs 4.86 crore towards fine and royalty amount for taking out sand from Hazira without approval.Source: India Business News | Business News - Times of India | 13 Mar 2010 | 6:04 am Does RBI need more powers to discipline bank promoters?This week we saw Bank of Rajasthan getting into serious problems with the regulators. This comes at a time when RBI is being asked to issue more private bank licenses. Now while the RBI has enough powers to discipline banks. Does it need more powers to discipline bank promoters?Source: Moneycontrol Top Headlines | 13 Mar 2010 | 5:33 am Google 99.99% sure to shut China search engine: ReportThe Financial Times said in a report on its website that Google had drawn up detailed plans for closing its Chinese search engine.Source: Daily News & Analysis: Money News | 13 Mar 2010 | 4:36 am Tata Motors sees margin pressureTata Motors, India\'s largest vehicles maker plans to offset rising commodity prices through price hikes and cost cutting, a senior executive said.Source: Moneycontrol Top Headlines | 13 Mar 2010 | 4:35 am EU/India trade pact could limit cheap drugs: MSFPoor people in India and other developing countries may lose access to affordable generic drugs as part of freetrade negotiations between India and the European Union, a medical advocacy group said on Friday.Source: Moneycontrol Top Headlines | 13 Mar 2010 | 4:35 am Nagarjuna Fertilizers eyes Euro 5m German buyNagarjuna Fertilizers Chemicals Ltd plans to invest up to 5 million euros (about Rs 312.5 million) in the German speciality chemical firm it plans to acquire, its top official said on Friday.Source: Moneycontrol Top Headlines | 13 Mar 2010 | 4:35 am Mercator Lines buys tanker, unit to buy dry bulkerMercator Lines Ltd said on Friday it has acquired a 1993built tanker and has also deployed the vessel on contract.Source: Moneycontrol Top Headlines | 13 Mar 2010 | 4:35 am Indo Asian Fusegear on expansion mode; eyes Rs 4 bn revPower gears maker Indo Asian Fusegear is targetting revenue of Rs 4 billion in FY11 via the organic route, but is also open to inorganic growth opportunities, a senior official said on Friday.Source: Moneycontrol Top Headlines | 13 Mar 2010 | 4:35 am Gold drops on weak global cues, silver too fallsMumbai: Gold prices dropped by Rs155 per ten grams at the bullion market here on Saturday due to lack of local buying interest and stockists offerings amidst weak global cues. Silver also fell on the back of poor industrial support. Standard gold (99.5 purity) declined by Rs155 per ten grams to end at Rs16,445 from overnight closing level of Rs16,600. Pure gold (99.9 purity) dropped by a similar margin of Rs155 per ten grams to finish at Rs16,530 as against Rs16,685 on Friday. Silver ready (.999 fineness) slipped by Rs215 per kilo to conclude at Rs26,975 from Rs27,190 previously. In New York, gold for April delivery down by $6.50 to $1,101.70 an ounce at the New York Mercantile Exchange. Silver for April delivery lost by 9 cents to $17.04 an ounce. Source: LatestNews-Home - Livemint.com | 13 Mar 2010 | 4:06 am Shanghai GM recalls 2,000 imported Captivas: GovtShanghai GM is contacting the owners of the Captivas to repair the vehicles, although the company has not yet received any customer complaints about defects, the agency said.Source: Daily News & Analysis: Money News | 13 Mar 2010 | 3:29 am Mahindra to invest Rs5,000 crore in new plantMumbai: Mahindra & Mahindra, India’s largest utility vehicles and tractor maker, is investing Rs5,000 crore ($1.1 billion) on Phase 1 of its new plant in Chakan near the Pune, a senior official said on Saturday. Half of the Rs5,000 crore has already been invested and the remainder would come over the next 3-4 years, bringing the plant’s capacity to 300,000 units, Automotive Sector president Pawan Goenka told reporters after inaugurating the plant. The company has not decided on approval for a second phase, which would take a further 3 years and would raise the plant’s capacity by another 250,000 units, Goenka said. The new plant has already started rolling out its new mini truck Maxximo, launched earlier this year. Medium and heavy trucks from its joint venture with US-based truck and engine maker Navistar will also roll out from this plant, followed by variants of the Xylo, and its new premium sport utility vehicle scheduled to be launched in 2011, Goenka said. The Scorpio pick-up truck, to be launched in the US this year, will come from its existing plant in Nashik, in Maharashtra. “Once Phase II is also completed this plant will be enough to serve the needs of Mahindra for at least 10 years,” Goenka said. In the initial phase the new unit, with four assembly lines, will be making 250,000 utility vehicles and 50,000 trucks. The project would be funded through a combination of equity and debt provided by the parent company and several of its units, Goenka said. Goenka, who is also head of the Society of Indian Automobile Manufacturers, said that compliance with Euro III emission norms could not take place for at least 3-4 months since the fuel for this is not available. He also said the Society is in talks with the government to delay compliance with Euro IV norms until the required fuel is available in the 13 cities which will be affected. The original deadline for the new emission norms was 1 April. Source: LatestNews-Home - Livemint.com | 13 Mar 2010 | 3:18 am Suicide bomber kills 11 in Pakistan’s SwatMingora, Pakistan: A Taliban suicide bomber targeting security forces killed at least 11 people on Saturday, Pakistani police said, part of a renewed push against the state after one of the biggest security crackdowns in years. The assault near a security checkpost in Swat Valley, which also wounded 35 people, came a day after a suicide attack on the military killed at least 45 people in the eastern city of Lahore. “Our men carried out these attacks and more strikes will continue all over the country because the entire Pakistan has become a colony of the United States,” Taliban spokesman Tariq Azam told Reuters by telephone from an undisclosed location. Qazi Ghulam Farooq, Mingora city police chief, said the suicide bomber in the latest attack was on a rickshaw. Two soldiers, three policemen and five civilians were killed. “I saw a burning vehicle ... at least five people, including some women, who burned to death,” a witness said. The road to Mingora’s main courthouse was blocked by concrete slabs, sand bags and barbed wire. The blast left two rickshaws twisted and a car burning. Windows were shattered in nearby buildings in Mingora, Swat Valley’s main town. The military launched a major offensive against the Pakistani Taliban in Swat in April last year, largely clearing Islamist fighters out after months of clashes. Militants have gone on the offensive again after a recent lull in violence, challenging government assertions that an assault in the militant stronghold of South Waziristan had dealt a major blow to Pakistan’s Al Qaeda-backed Taliban. The Pakistani Taliban have attacked many targets, including a volleyball match and army headquarters in the town of Rawalpindi, close to the capital, Islamabad. “Terror siege” On Saturday, security was tightened in the area. A Reuters witness saw a convoy of at least 10 vehicles near Rawalpindi with between four and six soldiers in each. There was also a heavy security presence at intersections. Police said the measures were taken as a precaution after the Lahore carnage. The Taliban have often melted away after offensives and then struck back after government offensives on their strongholds. “In Swat and other parts of tribal areas, they have been defeated comprehensively. But there are what you call individual groups all over the country,” said defence analyst Mehmood Shah. Highlighting the alarm in Pakistan, one front-page newspaper headline read: “Lahore Under Terror Siege”. The latest wave of violence is likely to worry the United States in several ways. For one, it will raise fresh questions about stability in nuclear-armed Pakistan. Washington may also worry Pakistan will further focus on fighting homegrown Taliban, instead of hunting Afghan militants who cross the border to attack US troops in Afghanistan, the White House’s main priority as it tries to stabilise the country before a US troop pullout in 2011. The blast in Mingora was the sixth this week in Pakistan, and will add to pressure on President Asif Ali Zardari during a critical period. The economy is sluggish and foreign investors have been scared away by violence. The unpopular Zardari also faces calls to hand over his major powers -- such as the right to dissolve parliament and choose the army chief -- to Prime Minister Yusuf Raza Gilani. Unlike Zardari, Gilani has not antagonised Pakistan’s powerful military and he may have the best chance of stabilising Pakistan. Amid the political turmoil, the attack on Saturday is likely to re-focus attention on security in Swat, a former tourist valley 120 km (75 miles) northwest of Islamabad, Last month, a suspected suicide bomber killed six people in an attack on security forces in a market in Mingora, police said. Source: LatestNews-Home - Livemint.com | 13 Mar 2010 | 3:15 am India among world’s top 3 preferred investment destinationWashington: India is among the world’s top three preferred investment destination, but equity caps limit the size of potential inflows, according to a Columbia University report. The report cited liberalization in foreign direct investment (FDI) policy and several economic sectors, a globally competitive workforce, and rapid gross domestic product (GDP) and market growth as the main drivers of foreign investment in India. Yet, it said equity caps limit the size of potential new inflows and national security concerns might prompt more oversight of FDI approval processes. According to the 15-page report ‘Inward FDI in India and its policy context’, India is also the 13th largest in terms of foreign investment inflows, which have risen 15-fold since 2000. The report said while investors initially concentrated on manufacturing, power and telecommunications, they now focus on services. Among other visible trends, firms in developed countries dominated investment in the 1990s, but in the past decade developing country investors have also become significant, it said. A third of the post-2000 inflow is invested around Mumbai, a manufacturing hub, and one-fifth around Delhi, a services hub. Source: LatestNews-Home - Livemint.com | 13 Mar 2010 | 2:37 am Bentley unveils Rs 2.9 cr 'Mulsanne', to hit market by Oct - The Hindu
Source: Business - Google News | 13 Mar 2010 | 2:14 am
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