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Ford starts second shift at Chennai plant to meet Figo demand'Figo is getting a good response from the market and the company has received 24,000 purchase orders in the first four months of launch', Ford India's executive director (marketing & sales), Nigel E Wark said.Source: Daily News & Analysis: Money News | 4 Jul 2010 | 3:44 am Ford starts second shift at Chennai plant to meet Figo demand - Daily News & Analysis
Source: Business - Google News | 4 Jul 2010 | 3:43 am Anil Ambani's RNRL, R-Power to merge in $11 billion deal - NDTV.com
Source: Business - Google News | 4 Jul 2010 | 3:37 am ANALYSIS - Romania debt issues a hard sell despite fresh IMF cashBUCHAREST (Reuters) - Romania will struggle to sell its next batch of treasury bills and bonds this week without accepting much higher yields as fresh IMF bailout money will not ease mounting concerns about the country's finances.Source: Reuters: Money News | 4 Jul 2010 | 3:29 am Anil Ambani to merge Reliance Power and RNRLMUMBAI (Reuters) - Billionaire Anil Ambani's Reliance Power and sister firm Reliance Natural Resources have decided to merge, a Reliance Power spokesman told Reuters on Sunday.Source: Reuters: Money News | 4 Jul 2010 | 3:28 am RNRL to merge with Reliance Power in Rs50,000 cr dealNew Delhi: In a mega Rs50,000-crore deal, Anil Ambani group on Sunday announced merger of RNRL with another group firm Reliance Power, which would now become a direct beneficiary of the gas deal signed with Mukesh Ambani- led Reliance Industries. As part of the all-stock deal, Reliance Power will give one of its shares for every four held in RNRL. RNRL shareholders, including the promoters, would get Reliance Power shares worth about Rs7,150 crore, as per the current market prices. Out of these, promoters would get shares worth over Rs3,600 crore. The deal comes within days of RNRL signing a revised gas supply deal with Reliance Industries (RIL) for power projects, which are under the charge of Reliance Power. Following the Supreme Court decision on 7 May, wherein its plea was rejected for cheaper gas from RIL, the Anil Ambani group firm RNRL had lost much of its relevance as a business entity. Announcing the deal, the two companies said in a joint statement, “Reliance Power’s plans for setting up upto 10,000 MW gas-based power plants (would) be accelerated” and Reliance Power would “derive substantial benefit from RNRL’s Gas Supply Master Agreement with RIL”. Ahead of Sunday’s board decision, RNRL shares closed at Rs63.65 a piece and Reliance Power at Rs175.15 on Friday. Source: Home - Livemint.com | 4 Jul 2010 | 3:28 am RNRL to merge with Reliance Power in over Rs50,000 crore share dealThe boards of both the companies approved the merger, wherein RNRL shareholders for their every four shares would get one share of Reliance Power.Source: Daily News & Analysis: Money News | 4 Jul 2010 | 3:15 am DoT to refer TRAI report to EGoM; Raja writes to PMAmid diverse views expressed telecom firms like Bharti and RCOM, the Department of Telecom has decided to refer regulator TRAI’s recent recommendations on spectrum-related issues to an empowered group of ministers.Source: HindustanTimes.com - Top Business News Headlines | 4 Jul 2010 | 3:11 am Inflation likely to touch 14 pc this month: E&YGlobal consultant firm Ernst & Young said that it expects inflation to climb to 14 per cent in July from 10.16 per cent in May, spurring the RBI to raise short-term rates in its July 27 monetary review for checking spiralling prices.Source: HindustanTimes.com - Top Business News Headlines | 4 Jul 2010 | 3:08 am NDA chalk out shutdown strategyNew Delhi: Top leaders of BJP-led National Democratic Alliance on Sunday chalked out the strategy for a nation-wide strike call on Monday against the government’s “failure” to control price rise. “This may be the first time in history of India’s politics that almost all political parties will participate in the Bharat Bandh,” NDA working chairperson L.K. Advani said after a meeting of the leaders. He gave credit to NDA convenor and JD(U) president Sharad Yadav for bringing together even the non-NDA political parties for the one-day strike. Though the Left parties have given a call for a Bharat Bandh separately on Monday, Rashtriya Janata Dal, Samajwadi Party, Lok Janshakti Party and some smaller parties will not be a part of the strike. Referring to an advertisement in newspapers by the petroleum ministry claiming that a strike would not bring down prices of petroleum products, Advani said, “Even we do not claim that prices will come down due to Bharat Bandh.... Solution lies in the hands of the government. Unfortunately, there is no indication that the government has a solution.” He alleged the government had become “insensitive” to the issue of price rise. Advani maintained that though Congress-led UPA has been talking of espousing the cause of the common man since 2004, prices have been on the rise. “Despite so much increase in food prices, the government has increased the prices of petroleum products,” he said. He said price rise issue had figured prominently in the last few sessions of Parliament. It will figure again in the forthcoming monsoon session, he said. Yadav claimed Monday’s agitation would be “extraordinary and unprecedented” as the people were “completely fed-up” with price rise. The NDA leaders argued whenever prices have been decontrolled the costs have gone up. Yadav gave figures of prices of petrol in different countries to argue that its cost in India is very high. He tried to prove the cost of petrol was only Rs16.50 but after several taxes it was being sold for Rs 53.05. Emergency services will not be disrupted during the strike. Advani appealed to all NDA members participating in the strike to ensure that it is conducted peacefully. NDA has made elaborate plans for Bharat Bandh. While BJP president Nitin Gadkari, Yadav and Shiromani Akali Dal MP Harsimrat Kaur will lead the strike at Chandni Chowk in Delhi, Leader of Opposition Sushma Swaraj will be in Bhopal and her counterpart in Rajya Sabha Arun Jaitley and party vice-president Mukhtar Abbas Naqvi will be in Lucknow. Among other leaders, Venkaiah Naidu will be in Hyderabad, Ananth Kumar in Bangalore, Gopinath Munde in Mumbai and Vasundhara Raje in Jaipur, according to Naqvi. He said the party leaders have been deputed to states to ensure success of the nation-wide shutdown called against rise in prices and “arrogant attitude of the Central government”. Source: Home - Livemint.com | 4 Jul 2010 | 3:00 am Pranab says no rollback of fuel price hikeKOLKATA (Reuters) - Finance Minister Pranab Mukherjee said on Sunday there was no question of a rollback of the fuel price hike.Source: Reuters: Money News | 4 Jul 2010 | 2:51 am HMVL ropes in 13 anchor investors for IPO, gets Rs 46 cr - Business Standard
Source: Business - Google News | 4 Jul 2010 | 2:33 am Pre-monsoon rains cool Delhi - Sify
Source: Business - Google News | 4 Jul 2010 | 2:32 am Jet awaits govt nod to launch more flights to ColomboJet Airways has so far not got official permission to launch additional flights to Colombo, four months after it applied, an airline official said.Source: HindustanTimes.com - Top Business News Headlines | 4 Jul 2010 | 2:19 am Realty prices may go up as govt refuses to remove service taxReal estate prices may go up with a plea of Urban Development Ministry for withdrawal of 2.5 per cent service tax from the sector not being heeded to by the Finance Ministry.Source: HindustanTimes.com - Top Business News Headlines | 4 Jul 2010 | 1:50 am Govt loses Rs1,800 cr annually to coal mafiaNew Delhi: The Central government suffers an annual loss of Rs1,800 crore on account of thousands of coal mafia, which involve themselves in illegal mining across different states, an official said on Sunday. “Thousands of coal mafia (gangs) active in coal-producing belts, including that of Coal India Ltd (CIL), plunder about six million tonnes of coal annually. Going by current prices in the domestic market, this amounts to Rs 1,800 crore a year,” the official said. On an average, coal sells for nearly Rs1,000 per tonne in the domestic market. He said that the mafia is primarily active in the main coal-producing states of Jharkhand, Orissa and Chhattisgarh -- which are also affected by Maoist violence. Meanwhile, the Centre has asked states to form high-level committees to curb illegal mining. Coal minister Sriprakash Jaiswal had stated last week that the Centre has asked states to form empowered committees for cracking down on the 10,000 mafia groups that operate in the country. At 267 billion tonnes, India has the world’s largest coal reserves. The fossil fuel accounts for 55% of the country’s energy needs. CIL, which accounts for over 80% of the domestic coal production through its seven subsidiaries, produced about 430 million tonnes in 2009-10. Source: Home - Livemint.com | 4 Jul 2010 | 1:36 am Govt loses Rs1,800 cr annually to coal mafiaNew Delhi: The Central government suffers an annual loss of Rs1,800 crore on account of thousands of coal mafia, which involve themselves in illegal mining across different states, an official said on Sunday. “Thousands of coal mafia (gangs) active in coal-producing belts, including that of Coal India Ltd (CIL), plunder about six million tonnes of coal annually. Going by current prices in the domestic market, this amounts to Rs 1,800 crore a year,” the official said. On an average, coal sells for nearly Rs1,000 per tonne in the domestic market. He said that the mafia is primarily active in the main coal-producing states of Jharkhand, Orissa and Chhattisgarh -- which are also affected by Maoist violence. Meanwhile, the Centre has asked states to form high-level committees to curb illegal mining. Coal minister Sriprakash Jaiswal had stated last week that the Centre has asked states to form empowered committees for cracking down on the 10,000 mafia groups that operate in the country. At 267 billion tonnes, India has the world’s largest coal reserves. The fossil fuel accounts for 55% of the country’s energy needs. CIL, which accounts for over 80% of the domestic coal production through its seven subsidiaries, produced about 430 million tonnes in 2009-10. Source: LatestNews-Home - Livemint.com | 4 Jul 2010 | 1:36 am Govt sees coal reform blueprint in oil and gasNEW DELHI (Reuters) – The government plans to steal a page from successful oil and gas exploration reforms to open its antiquated coal mining industry, raising hopes investors will be able to tap into a market where demand is expected to soar.Source: Reuters: Money News | 4 Jul 2010 | 1:14 am China studies neighbours' resourcesBEIJING (Reuters) - China is forging ahead with studies of resource reserves and acquisition possibilities in neighbouring countries, in part spurred by repeated failures to gain a say in iron ore pricing negotiations, state media reported.Source: Reuters: Money News | 4 Jul 2010 | 1:12 am Should BP nuke its leaking well?MOSCOW/WASHINGTON (Reuters) - His face wracked by age and his voice rasping after decades of chain-smoking coarse tobacco, the former long-time Russian Minister of nuclear energy and veteran Soviet physicist Viktor Mikhailov knows just how to fix BP's oil leak in the Gulf of Mexico.Source: Reuters: Money News | 4 Jul 2010 | 12:58 am Telecom M&A deals touched $23 bn in Q1: AssochamThe telecom industry topped the chart in terms of merger and acquisition deals, valued at $ 22.73 billion, across all sectors in the April-June quarter of 2010-11, a study by industry body Assocham said.Source: HindustanTimes.com - Top Business News Headlines | 4 Jul 2010 | 12:53 am Auto index rallies 8% in June - Times of India
Source: Business - Google News | 4 Jul 2010 | 12:51 am Model N to invest $25 mn in healthcareNew Delhi: S-based revenue management solutions provider Model N on Sunday said that it will invest $25 million in the next three years to offer customised solutions to pharma and healthcare companies in the country. “We will be investing $25 million in India over the next three years. We are in talks with leading healthcare and pharma companies in India, and will soon ink a deal with them,” Model N Inc founder and chief executive officer Zack Rinat said. Model N currently offers revenue management applications, which help pharma companies check revenue leakage and adhere to regulatory compliance. The healthcare industry in the India, which comprises hospital and allied sectors, is projected to grow 23% per annum to touch $77 billion by 2012, according to a report published by Yes Bank and an industry body in November 2009. “We see a huge opportunity in the country. Our solutions will help companies save over $40 to $120 million for every billion revenue earned by them,” he said. The company, which currently offers its solutions to Pfizer as well as Johnson and Johnson, said it will hire 250 people by the end of September 2011 for its India operations. Model N employs 105 professionals at its Hyderabad centre. Source: LatestNews-Home - Livemint.com | 4 Jul 2010 | 12:51 am Week Ahead: Markets to track global cues; Rate hike to have an impact as well - Sify
Source: Business - Google News | 4 Jul 2010 | 12:32 am Pranab to meet heads of PSU banks, Northern state Chief Ministers on July 6 - The Hindu
Source: Business - Google News | 4 Jul 2010 | 12:15 am Inflation makes RBI move desirable: PranabThe Finance Minister, Mr Pranab Mukherjee, has hailed the Reserve Bank of India move to hike its main lending and borrowingSource: Business Line - Home Page | 4 Jul 2010 | 12:00 am Betting on delisting is no guarantee for gainsIf you thought that buying stocks on expectation of voluntary delisting by promoters is a one-way ticket to riches, thinkSource: Business Line - Home Page | 4 Jul 2010 | 12:00 am Paint prices raised again as inputs turn costlierAsian Paints has raised its product prices by three per cent from July 1. The market leader had earlier increased the prices four per cent in May along withSource: Business Line - Home Page | 4 Jul 2010 | 12:00 am Posco to invest Rs 1,000 cr more in Maharashtra facilitySouth Korean steel giant Posco plans to expand its projects in Raigad district of Maharashtra, with three more units, at an investment of over Rs 1,000Source: Business Line - Home Page | 4 Jul 2010 | 12:00 am Paramount licence suspended for not meeting minimum fleet requirementThe licence of the Chennai-based Paramount Airways has been suspended by the Directorate-General of Civil AviationSource: Business Line - Home Page | 4 Jul 2010 | 12:00 am Big Three IT firms see drop in investors holding up to 5,000 sharesThe number of shareholders, owning between 1 and 5,000 shares, in India's top three IT firms — TCS, Infosys Technologies and Wipro Ltd — has declined over the past twoSource: Business Line - Home Page | 4 Jul 2010 | 12:00 am New terminal at Delhi airport proves skeptics wrong PM - Moneycontrol.com
Source: Business - Google News | 3 Jul 2010 | 11:37 pm LVB hires from Citi, ICICI, eyes Rs 20,000 cr balance-sheetSouth-based private sector Lakshmi Vilas Bank (LVB) has shored-up its top management by inducting two senior personnel from ICICI Bank and Citibank recently even as it is giving the final touches to its plan of entering the home-loans business soon.Source: HindustanTimes.com - Top Business News Headlines | 3 Jul 2010 | 11:36 pm Fuel tanker explosion kills over 230 in CongoKinshasa: At least 230 people were killed when a fuel tanker overturned and exploded in eastern Democratic Republic of Congo, unleashing a fire ball that tore through homes and cinemas packed with people watching World Cup soccer. Officials said on Saturday the explosion late on Friday also injured 196 people, adding that the death toll could rise. They described scenes of devastation in the town of Sange, where houses were burnt and bodies littered the streets. Some people died while trying to steal fuel leaking from the tanker, but most were killed at home or watching World Cup soccer in cinemas. Many of the bodies were charred beyond recognition. UN helicopters began airlifting injured people to hospital, while Congo’s army, which lost a number of men in the blast, has sent soldiers in to help with the rescue. “Our latest numbers are 230 dead and 196 injured,” Madnodje Mounoubai, a spokesman for the UN mission, said. Congo’s government also gave the same number of dead. Marcellin Cisambo, governor of South Kivu province, where the incident took place, said the blast occurred when the fuel truck overturned, leaked fuel and then later exploded. It was not immediately clear what caused the initial accident or later blast, but local people said the truck, which was part of a convoy, stopped when the road seemed to crumble, toppling the vehicle and spilling fuel. Fire then erupted. “It’s a terrible scene. There are lots of dead bodies on the streets. The population is in terrible shock -- no one is crying or speaking,” Jean-Claude Kibala, South Kivu’s vice governor, said from Sange, which is between the towns of Bukavu and Uvira. “We are trying to see how we can coordinate with (the UN) to manage the situation and how to take the wounded to hospital,” he added. Tanker accidents Roads in the area are notoriously bad after years of war and neglect in the vast central African nation. “Some people were killed trying to steal the fuel, but most of the deaths were of people who were indoors watching the (World Cup) match,” Cisambo said. There have been numerous similar accidents across Africa, where crowds gather around fuel tankers involved in crashes, only for the tanker to explode. Millions of football fans across Africa were watching Ghana, the continent’s last team in the World Cup, play Uruguay in the quarterfinals of the tournament on Friday evening. For many, who have no electricity at home, makeshift cinema halls are the only option for watching the football. “My children were watching the football match in the cinema and then they ran out to see the petrol,” said Kiza Ruvinira, who lost three children and his sister-in-law in the blast. “I went out to see what happened and I found my three children’s bodies myself. I don’t know how to go on.” Mubaya Mumasura also lost three family members: “I don’t know what to do with myself I am so sad. I want the government to assist all the victims and help us.” Congo’s weak government has difficulty providing even the most basic services, so UN peacekeepers began airlifting some of the wounded to nearby hospitals and aid workers were called in to help with medical treatment. “The national Red Cross is working on collecting the bodies and taking them to the morgue, but the priority is obviously to take the wounded to the hospital,” said International Committee of the Red Cross (ICRC) coordinator Inah Kaloga. Kaloga said aid workers were trying to identify bodies before they were buried, but many were completely charred. “It’s a catastrophe,” said Captain Olivier Hamuli,” spokesman for Congo’s military operation in South Kivu, adding that 13 soldiers had been injured and another 10 were missing. The Kenyan driver of the truck is being held by the police. Alain Ilunga, deputy CEO of Congo’s storage and distribution company, which is already investigating the incident, said the truck was carrying 49,000 litres of petrol at the time. Source: LatestNews-Home - Livemint.com | 3 Jul 2010 | 11:34 pm LIC to recruit 10,000 employees this yearThe country's largest insurance company, LIC, plans to recruit around 10,000 employees in the current fiscal to give a push to its growth plans.Source: HindustanTimes.com - Top Business News Headlines | 3 Jul 2010 | 11:29 pm RNRL to merge with R-Power in over Rs 50,000 crore share dealWith Reliance Natural Resources Ltd losing much of the relevance it was originally created for --sourcing and supply of fuels, its Board will on Sunday consider merging itself with sister concern Reliance Power.Source: HindustanTimes.com - Top Business News Headlines | 3 Jul 2010 | 11:21 pm Shoppers Stop eyes Rs 1,000 cr rev from HypercityK Raheja-promoted retail chain Shoppers Stop, that has a majority stake in the group's hypermarket format Hypercity, expects the latter to be profitable at the company level in FY 12 and a tripling of its revenues by then, a top company official said.Source: HindustanTimes.com - Top Business News Headlines | 3 Jul 2010 | 11:16 pm India frets over stalled monsoonNew Delhi: No one is saying the words “bad monsoon” yet, but the slow advance of India’s crucial rainy season is being followed anxiously after a dry 2009 wiped out crops and fuelled food price rises. The annual rains, which sweep across the subcontinent from June to September, were 16% below normal in June. After arriving ahead of schedule they have stalled over central India, below the parched, northern plains which are still counting the cost of last year’s failed monsoon -- the worst in nearly four decades. Right now, the “monsoon is not behaving as expected”, weather office director general Ajit Tyagi said, although he predicted that the final rainfall figures for the season would be “normal”. Not content with the promises of meteorologists, some people in the northern holy city of Varanasi have been conducting “frog weddings” -- marrying frogs with full Hindu rituals in a tradition believed to please the rain gods. The slow onset of the rains has postponed soybean planting in the world’s top edible oils importer and could delay rice planting in the northern grainbowl states of Haryana and Punjab. India, which gets 80% of its annual rainfall from the monsoon, is one of the world’s leading producers of rice, wheat and sugar. The uncertain start to the rainy season means more worries about food inflation, which is already running at nearly 13% and has a major impact on India’s impoverished millions, the Congress-led government’s core support. The government needs a decent monsoon to help rein in the price rises that have triggered opposition-led demonstrations around the country. The meteorological department’s chief monsoon forecaster, D. Sivananda Pai, has put the stuttering start to the season down to “glitches” and his department says overall rainfall may be slightly above average. But the same department was wrong last year when it forecast a normal monsoon. July is the most critical month from a planting perspective -- the time when India usually receives the maximum amount of rain. Agriculture secretary P.K. Basu said if rainfall was delayed beyond 5 July 5 over northern India it would give cause for worry. With only 40% of arable land under irrigation, India’s 235 million farmers rely on the capricious rains to soak the rock-hard earth and turn it into fertile soil. A bad monsoon can spell financial disaster, wiping out livelihoods for many small landholders eking out a living. The farm sector’s contribution to India’s gross domestic product has fallen from 50% in the 1950s to 17%, but remains vital to the national economy by supporting 700 million rural Indians and fuelling consumer demand for everything from TVs and refrigerators to motorcycles and gold. “A good monsoon this year is critical from all sorts of standpoints -- from consumer demand, to inflation, hydroelectric power and water availability,” said Dharmakirti Joshi, economist at Indian credit rating agency Crisil. “You can withstand one monsoon failure, but two monsoon failures would make things very difficult,” Joshi said. There is no danger of a famine as the country still has healthy wheat and rice stockpiles from four years of bumper harvests. But analysts say the challenge for the government is to maintain a steady supply of foodgrains in the market to ensure stable prices and prevent hoarding and black marketeering. And more is riding on this monsoon than just the summer crop. Source: Home - Livemint.com | 3 Jul 2010 | 11:15 pm 48-acre textile park to provide 8000 - Times of India
Source: Business - Google News | 3 Jul 2010 | 4:05 pm Airport to reach saturation point in 5 yrs - Times of India
Source: Business - Google News | 3 Jul 2010 | 4:05 pm Valley falls from paradise, embraces stone ageShahroz takes his day job very seriously: Attending patients at a private nursing home in downtown Srinagar. On Fridays, after the namaaz, he has a second job - throwing stones at CRPF jawans.Source: Business Standard | Front Page Headlines | 3 Jul 2010 | 1:24 pm Noose tightens around Modi as Board ratifies chargesThe Board of Control for Cricket in India (BCCI) is set to initiate legal proceedings against the suspended Indian Premier League (IPL) Chairman Lalit Modi. It unanimously ratified all charges against him and authorised its president Shashank Manohar to initiate civil and criminal proceedings.Source: Business Standard | Front Page Headlines | 3 Jul 2010 | 1:23 pm Karnataka Lokayukta withdraws resignationKarnataka Lokayukta (ombudsman) N Santosh Hegde on Saturday announced his withdrawal of resignation following an appeal by senior Bharatiya Janata Party (BJP) leaders L K Advani and national party president Nitin Gadkari, who assured that his demands for more powers to curb corruption would be met.Source: Business Standard | Front Page Headlines | 3 Jul 2010 | 1:20 pm PM pitches for $120-bn investment in aviationInaugurates terminal three at Delhi airport.Source: Business Standard | Front Page Headlines | 3 Jul 2010 | 1:16 pm UAE, Ireland agree on tax break for investorsThe United Arab Emirates has signed an agreement with the Republic of Ireland to give tax relaxation to the investors of each other's country. Source: HindustanTimes.com - Top Business News Headlines | 3 Jul 2010 | 1:13 pm India cellular market booms, but not for carriersMUMBAI/NEW DELHI (Reuters) - If India's cellular revolution is a boon to consumers, it has become a nightmare for operators that is likely to get worse before it gets better.Source: Reuters: Money News | 3 Jul 2010 | 11:11 am Bharat Forge: Looking beyond auto businessIn an exclusive interview with CNBCTV18, Baba N Kalyani, Chairman and Managing Director, Bharat Forge, speaks about the company, 2008 crisis and its future plans.Source: Moneycontrol Top Headlines | 3 Jul 2010 | 8:46 am How will RBI rate hike impact 10year bonds?In an excluisve interview with CNBCTV18, Hemant Mishr, Managing Director and HeadGlobal Markets, Standard Chartered and Shubhada Rao, Chief Economist, YES Bank, spoke on the immediate impact of RBI rate hike on bond prices and the economy as a whole.Source: Moneycontrol Top Headlines | 3 Jul 2010 | 8:10 am Deposit rates may go up lending to remain stable: BoBIn an interview with CNBCTV18, MD Mallya, Chairman and Managing Director of Bank of Baroda, spoke about his reading of this rate hike.Source: Moneycontrol Top Headlines | 3 Jul 2010 | 8:04 am Compassionate or ruthless: Which biz policy to adopt?Noted mythologist and Chief Belief Officer at Future Group Devdutt Pattanaik and CNBCTV18\'s Menaka Doshi discuss the purpose of a corporation, leadership qualities, Dharma Sankat and modern day business conflicts and other issues pertaining to Leadership and Governance.Source: Moneycontrol Top Headlines | 3 Jul 2010 | 7:46 am General Motors to file mid-August IPOGeneral Motors is also in talks with banks for a revolving credit line worth $5 billion.Source: Daily News & Analysis: Money News | 3 Jul 2010 | 7:34 am Former Stanchart India exec to return to bankFormer Standard Chartered executive V. Anantharaman is returning to the bank as managing director and head of its corporate finance and advisory business in India, the Economic Times reported on Saturday, without citing any sources.Source: Moneycontrol Top Headlines | 3 Jul 2010 | 7:23 am US congratulates India for FATF membership; praises its efforts'We welcome India as a full member of the Financial Action Task Force, and we look forward to working more closely with India on these important issues,' US Charge d'Affaires Steven J White said.Source: Daily News & Analysis: Money News | 3 Jul 2010 | 7:07 am Delhi gets new world-class airportNew Delhi: Delhi got a spanking new world-class Rs9,000 crore airport on Saturday that will integrate domestic and international operations and is expected to handle 34 million passengers annually. The new terminal or Terminal 3 (T3), said to be the sixth largest in the world, was on Saturday inaugurated by Prime Minister Manmohan Singh, who said the Indian aviation sector has the potential to observe upto $120 billion of investment by 2020. UPA chairperson Sonia Gandhi, civil aviation minister Praful Patel and Delhi chief minister Sheila Dikshit were among the dignitaries present on the occasion to dedicate T3 built by GMR group backed developer Delhi International Airport Ltd (DIAL). Spread over 4 kms, 80% of T3 is made of glass and supported by metal frames. The nine level terminal building would be used for 90% of the entire passenger movement in the airport.  A visitor takes a tour of the newly-inaugurated Indira Gandhi International Airport Terminal 3 in New Delhi on Saturday. Gurinder Osan /AP photo Comfortable lounges, nap and shower rooms will add to passenger comfort in the airport which will have a mix of restaurants, bars, cafes and fast food outlets in around 20,000 sq mt of commercial space. “An airport is often is the first introduction to the country. A good airport would signal a new India, committed to join the ranks of modern industrialised nations,” the Prime Minister said. He said Delhi’s new airport proves the success of public-private partnership model in execution of large infrastructure projects. He said India should have airports that are receptive to the comfort of passengers even as they meet the highest standards of safety. They should employ the most modern of technologies but also exude cultural warmth. Noting that his government had launched a modernisation and capacity expansion programme for major airports some years ago, he said, “Today we see one of the successes of that initiative. “The commissioning of this terminal will be a significant step forward in developing Delhi as a vital hub. It will encourage feeder traffic from the non-metro airports being developed by the Airports Authority of India,” he said. Besides three functional runways, the T3 would have, among other things, 168 check-in counters, 78 aerobridges (more than 64 in Singapore), 97 travelators and a multi-level air-conditioned car park to accommodate 4,300 cars, both first in India. Praising the ”impressive” new airport, Sonia Gandhi said quality is not something to be reserved for prestigious projects but should become “part and parcel of our design process for all our public projects including housing and other services”. “Providing rural and urban infrastructure efficiently and at the same time achieving high standards must remain our goal,” she said. Operations at the new integrated terminal would begin from the middle of this month with Air India and all international airlines shifting their operations from the existing terminal buildings. Officials of DIAL said all international carriers, operating from Delhi, would shift their operations from the existing international terminal or T2 to T3 on 14 July. On 30-31 July, the operations of all full service Indian carriers, including Air India, Jet Airways and Kingfisher, would shift along with their low-cost wings. The swanky T3 would also be “barrier free” to suit the requirements of passengers with “special needs or reduced mobility”. Source: Home - Livemint.com | 3 Jul 2010 | 6:58 am New terminal at Delhi airport proves skeptics wrong: PMNEW DELHI (Reuters) - A new terminal was inaugurated at the busy New Delhi airport on Saturday just 37 months after work began, providing a much needed boost to India's faltering infrastructure ambitions.Source: Reuters: Money News | 3 Jul 2010 | 6:33 am BhartiWalmart Training Centre: Empowering Indian youthFifty seven percent of Indian youth do not have opportunities to avail training to make them employable and providing opportunities at least in the retail sector is the BhartiWalmart Training Centre setup in 2008 in partnership with the Punjab Government.Source: Moneycontrol Top Headlines | 3 Jul 2010 | 6:24 am Adidas rallies vs Nike in World Cup buzzWorld Cup sponsor Adidas has pulled a comeback against rival Nike as the top brand online for consumers who are tuning in to the world's biggest soccer tournament.Source: Daily News & Analysis: Money News | 3 Jul 2010 | 6:06 am Abhipra to open 1 lacs pension account in a financial yearAbhipra capital has announced a new activity of point of presence to provide services to the subscribers to new pension system launched by pension fund regulatory development authority for all citizens except government employer covered by NPS.Source: Moneycontrol Top Headlines | 3 Jul 2010 | 5:51 am Big swings in yuan would hurt economy: Chinese central bank governor'Speculative and flock-driven fluctuations are a big blow to confidence, and are harmful to the real economy,' Hu Xiaolian, vice governor of the People's Bank of China said.Source: Daily News & Analysis: Money News | 3 Jul 2010 | 4:05 am European Central Bank says fiscal consolidation impact on growth limitedThe measures European countries have taken to shore up public finances will benefit growth in the long run, European Central Bank Executive Board member Gertrude Tumpel-Gugerell said.Source: Daily News & Analysis: Money News | 3 Jul 2010 | 4:02 am Bharti to invest $100m in Niger by 2012India\'s Bharti Airtel Ltd will invest about USD 100 million in Niger to improve the reach and quality of its network in the West African nation by the end of 2012, the mobile phone company said on Friday.Source: Moneycontrol Top Headlines | 3 Jul 2010 | 3:55 am
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