Mumbai Still Vulnerable 1 Year After Attack Nov 21, 2009
"Nothing has changed to alter the vulnerabilities of Mumbai," said Ajai Sahni, executive director of the Institute for Conflict Management in New Delhi ... Associated Press correspondents Nirmala George and Muneeza Naqvi in New Delhi and Amy Teibel in Jerusalem contributed to this report. (CBS News -- World)
A holiday to suit your personality Nov 21, 2009
They seek urban hubs that offer lots of variety, such as Mumbai, Bangalore, Delhi, London, Paris, New York or Sydney not smaller cities like Nagpur, Coimbatore or Indore. Closed people visit places they have fond memories of such as their hometowns. (India Times, India)
India, China important players: US Nov 21, 2009
WASHINGTON: The Obama administration has described India and China as "very important" global players and said it is engaged in intensive dialogue with the two countries, amid New Delhi's unease over the reference to Indo-Pak ties in a Sino-US joint statement ... "A third country role cannot be envisaged nor is it necessary," the External Affairs Ministry spokesman said New Delhi in a terse comment on the statement ... The Obama administration has described India and China as "very important"... (India Times)
Airlines on cash n carry mode: AAI Nov 21, 2009
NEW DELHI: With FM Pranab Mukherjee refusing Airports Authority of India (AAI) the permission to issue tax free bonds for raising Rs 5,000 crore, the PSU has decided to get tough with airlines on payment part. The authority has dues of Rs 900 crore from airlines, of which Rs 620 crore and Rs 195 crore are owed by Air India and Kingfisher, respectively. (India Times)
Unhappy with mobile service? Ditch operator for Rs 19 Nov 21, 2009
NEW DELHI: From New Year, the country's 500-million mobile phone users will be allowed to retain their numbers while switching service providers, with the telecom regulator clearing number portability, a move that could intensify an ongoing price war that has already hit the sectors profits and revenues ... Subscribers in Delhi, Mumbai, Kolkata and category A circles such as Maharashtra, Karnataka, Tamil Nadu, Gujarat and Andhra Pradesh will be allowed number portability from December... (India Times)
Govt set to reimpose ECB rate cap Nov 21, 2009
NEW DELHI: Policymakers have decided to terminate the easy overseas borrowing policy for companies unveiled due to credit crisis last year, as 00004000 they prepare to battle rising assets and commodity prices and to prevent currency appreciation, which erodes exporters profitability. We have decided to reimpose all-in-cost ceilings on external commercial borrowings, a senior finance ministry official said, referring to the Reserve Bank of India and the government. (India Times)
NHPC loses Arunachal hydro project to Jindal Power Nov 21, 2009
NEW DELHI: The countrys largest hydroelectric power generation company NHPCs plans of putting up a large power plant in Arunachal Pradesh have been dashed with the state government allotting the Subansiri Middle project to another company. NHPC had been asked to prepare detailed project report (DPR) for this 1,600 mw plant and was, therefore, expecting to get the project. (India Times)
3G winners to use spectrum after June Nov 21, 2009
NEW DELHI: Successful winners of the third generation spectrum auctions, scheduled to be held in January 2010, will only be allowed to use these airwaves after June next year. The department of telecom (DoT), in a communication to the defence ministry, while asking the armed forces to vacate 25 MHz of third generation airwaves by December 09 for the upcoming auctions , has also added that it (the DoT) would ensure that winners in 3G auction would start using this spectrum only after June... (India Times)
Green electricity in Bihar Nov 21, 2009
NEW DELHI: A technology that converts rice husk into electricity is gaining ground in Bihar. Some 100,000 households in the state already use electricity produced from biomass and their number is steadily growing. (India Times)
Gold buy to contain Rupee volatility Nov 21, 2009
NEW DELHI: The recent mega gold purchase by the Reserve Bank was to smoothen the exchange rate volatility arising from the changes in the valuation of US dollar, the Lok Sabha was informed on Friday. In October, the RBI had bought 200 tonne gold at USD 6. (India Times)
Unisys to partner local IT cos to bid for UID project Nov 21, 2009
NEW DELHI: UNISYS, one of the biggest government solution providers in the US, plans to bid for Indias national Unique identity (UID) project by partnering with countrys top tech firms including Tata Consultancy Services (TCS), Wipro and Tech Mahindra. The company has already deployed identity, biometric and immigration control solutions in countries such as Australia, Malaysia, the US, Panama, Canada and Angola. (India Times)
JFE-JSW deal may prove to be a turning point Nov 21, 2009
The Japanese company has so far been present in India only through a representative office in Gurgaon, New Delhi. It, however, has a strong presence in China and Thailand, besides having a manufacturing presence in the US.. (India Times)
Banks to get six more mths to cover NPAs Nov 21, 2009
NEW DELHI: The Reserve Bank of India will give banks six months more to set aside extra funds from their profits to cover non-performing assets, stretching an earlier deadline of September 2010. A senior RBI official told ET that this would help them to spread the possible adverse impact on their balance sheets over a longer period. (India Times)
Restored, refurbished Oberoi may open in 2010 Nov 21, 2009
Mr Oberoi who is based in Delhi, is involved with the minutest details of the rooms, restaurants and public areas, and keeps coming to Mumbai to take stock of the situation. . (India Times)
Govt plans Rs 10 note in polymer Nov 21, 2009
NEW DELHI: Government will introduce one billion (100 crore) polymer notes of Rs 10 in a bid to increase their lifetime. In a reply to Lok Sabha, min 00004000 ister of state for finance Namo Narain Meena said, The government has decided to introduce one billion pieces of polymer banknotes in Rs 10 denomination on trial basis. (India Times)
AOL, Sony Ericsson to cut 4500 jobs in total Nov 21, 2009
NEW YORK/NEW DELHI: AOL will cut some 2,500 jobs, or one-third or its workforce, under the plan to spin off the Internet firm from media giant Time Warner. Mobile handset maker Sony Ericsson on Thursday said that it will cut 2,000 jobs globally as it phases out activities at some of its locations. (India Times)
Residential property prices in north India inching up Nov 21, 2009
The appreciation of the rental values in the high-end residential locations of Delhi in the range of 8-12 % stands testimony to the increase in leasing activities in the region, the report points out. The rental value in suburban locations such as Gurgaon and Noida stabilized over the quarter despite addition of new stock due to latent demand in the region. (India Times)
Pak using terror as state policy: PM Nov 21, 2009
NEW DELHI: Prime Minister Manmohan Singh, whose visit to the US will see a further consolidation of Indo-US counter-terror cooperation in the shape of an MoU, charged Pakistan with using terror as an instrument of state policy. We have been the victims of Pakistan-aided, -abetted and -inspired terrorism for nearly 25 years. (India Times)
Centre gives in on cane pricing issue Nov 21, 2009
NEW DELHI: The UPA government, which took a neat U-turn on its sugarcane pricing policy on Friday, decided to strike down provision diluting the state advised price (SAP) for the crop that had triggered a massive protests by cane growers and a joint Opposition offensive against the Centre. In a statement put out after a meeting with Opposition parties convened by Leader of the Lok Sabha Pranab Mukherjee, the government said. (India Times)
Small investors to get five per cent discount on REC issue Nov 21, 2009
NEW DELHI: Small investors may get a discount of five per cent in the share offering by Rural Electrification Corporation (REC), an official with the state-run company said, but the share sale will not be conducted through auctions for institutional investors, according to bankers involved in the process. The discount is aimed at luring retail investors who have shown tepid interest in two previous public issues by government firms hydel power producer NHPC and Oil India even as there... (India Times)
Is it time to completely decontrol the sugar sector? Nov 21, 2009
NEW DELHI: The government on Friday said it would amend a new sugarcane pricing rule, bowing to protests held in the capital by farmers demanding higher prices for their produce. ( ). (India Times)
Handwriting hints local angle in 26/11 Nov 21, 2009
NEW DELHI/MUMBAI: Even as details of terror suspects David Coleman Headley and Tahawwur Ranas travels to India to allegedly recruit sleeper cells and survey potential LeT targets, including those hit during 26/11, unravel, handwriting experts have confirmed that the writings on the maps of 26/11 targets seized from Mumbaikar and 26/11 accused, Faheem Ansari, are indeed his own ... During his stay in Delhi last year, Rana had checked into a hotel in Karol Bagh along with his companion Samraz... (India Times)
Candidates caught in CAT game Nov 21, 2009
Candidates from urban pockets including Delhi, Bangalore, Mumbai, Pune and Lucknow, usually account for almost 50% of the total number of candidates ... You hardly happen to find people in metros like Bangalore and Delhi who are not comfortable with computer. (India Times)
LS adjourned over sugarcane price Nov 20, 2009
NEW DELHI: The Lok Sabha was adjourned until noon Friday after opposition members disrupted the proceedings demanding a better deal for sugarcane farmers. As soon as the house assembled at 11 am, opposition MPs mainly of the Bharatiya Janata Party (BJP) walked towards Speaker Meira Kumar shouting anti-government slogans over its sugarcane pricing policy. (India Times)
India tops again in consumption of gold Nov 20, 2009
NEW DELHI: With gold prices touching new highs in 2009, its demand in the global market declining. However, in gold consumption, India again climbed to the top position in world, led by strong demand of jewellery. (India Times)
Commercial realty segment reviving Nov 20, 2009
This is all the more surprising considering that rentals in good buildings have also seen big slump in Delhi, as well as in NCR towns. As if this were not enough, there is a glut in available space in most of the buildings in these areas. (India Times)
Airtel 3rd in user additions in Oct Nov 20, 2009
NEW DELHI: The largest telecom operator in India Bharti Airtel has slipped to third position in terms of monthly additions, according to figures released by Auspi and COAI.. Bharti Airtel in October added about 2. (India Times)
Cane crushing fails to begin in UP Nov 20, 2009
Farmers on the other hand are now increasingly inclined to begin selling cane as they need to clear fields to sow rabi crops but have been holding back as the agitation gathered steam in New Delhi. They have rejected the effective price of Rs 180/quintal announced by millers, which agreed to an incentive of Rs 15/quintal over and above the SAP of Rs 165/quintal for normal variety of cane. (India Times)
Does a work-from-home system contribute ot increased employee productivity? Nov 20, 2009
NEW DELHI: Global hr experts abhor the idea of taking work home. But local HR managers have turned the debate on its head: they now prod employees to carry their office home. (India Times)
Companies' share buybacks may hit a wall Nov 20, 2009
NEW DELHI: With the stock market bouncing back over the past six months, majority of the ongoing share buybacks announced by listed companies in the recent past are unlikely to find any takers as the market price of those companies are much higher than the maximum repurchase price offered under the schemes ... 52 crore, of which 40 have already been closed, as per data collated by Delhi-based merchant bank SMC Capitals. (India Times)
India needs rice, but won't order now Nov 20, 2009
NEW DELHI: India is keeping its strategy on clinching competitive prices for rice imports close to its chest, choosing for the present to signal to the world market that it is in no hurry to import through expensive open-tender-based deals. The government has also begun scaling down projections of its rice import needs for the year, to reinforce the impressi 00004000 on that it would not import big quantities. (India Times)
Airtel, strongest brand Nov 20, 2009
NEW DELHI: Reliance Industries may be the biggest corporate brand in India, but Bharti Airtel is the strongest. The countrys largest mobile operator is the only corporate brand to be awarded the AAA rating, or extremely strong, in Brand 00004000 Finances Brand Power Rating (BPR). (India Times)
Ambani row: Centre to file affidavit Nov 20, 2009
NEW DELHI: The Supreme Court on Thursday asked the Centre to file an affidavit stating that it will ensure the supply of gas from the Krishna-Godavari basin to state-owned power utility National Thermal Power Corporation (NTPC) in a non-discriminatory manner. Indias solicitor general Gopal Subramanium assured the court that he will file an affidavit providing such an undertaking. (India Times)
Biz confidence back as slowdown slows down Nov 20, 2009
NEW DELHI: With the economy getting it 00004000 s bounce back, corporates are now a lot more optimistic about the future, a survey of business confidence has revealed. Business confidence among the countrys 545 large firms has surpassed even the level that prevailed before the global financial crisis hit sentiments, according to the latest National Council of Applied Economic Research (NCAER)-MasterCard Worldwide Index of Business Confidence released on Thursday. (India Times)
Sony Ericsson to close Chennai unit Nov 20, 2009
Mr Liguori added that the handset maker also has a sales eting office in New Delhi, which will continue to be operational. Earlier, Sony Ericssons India office issued a statement on the back of a number of news reports which spoke about the Chennai operations shutting down. (India Times)
Madhuri Dixit, Tom Hanks in Krishna Shah's film on Indira Nov 20, 2009
NEW DELHI: Hollywood stars Tom Hanks and Tommy Lee Jones are set to share screen presence with Indian actors Dharmendra, Abhay Deol and Nana Patekar for Krishna Shahs movie on former Indian Prime Minister Indira Gandhi, produced by his company Movie Moghuls. The role of the Iron Lady will be essayed by none other than Madhuri Dixit. (India Times)
Not looking at tax on inflows: Ahluwalia Nov 20, 2009
NEW DELHI: India is not considering imposing a tax to curb c 00004000 apital inflows, and wants the inflows to rise a little more, the deputy chairman of the government's planning commission said on Friday. "It (capital flows) is rising but we want it to rise a little bit more," Montek Singh Ahluwalia said. (India Times)
Reliance Industries most valuable brand in India Nov 20, 2009
NEW DELHI: In a year marred by the global financial crisis, stock market volatility and cost-cutting all around, India Inc has managed to retain a tally of 19 homegrown companies with a brand value of more t 00004000 han $1 billion each. With just one company slipping below that mark last year there were 20 companies with a brand value of more than $1 billion the latest edition of Indias Most Valuable Brand 2009 (IMVB) study gives a sense of dj vu with the Top 10 league carrying... (India Times)
Sugarcane ordinance: Govt isolated, opposition closes ranks Nov 20, 2009
PM caves in on cane after Delhi siege- Politics/Nation-News-The Economic Times ... PM caves in on cane after Delhi siege20 Nov 2009, 0445 hrs IST, ET Bureau ... NEW DELHI: Faced with swelling anger among the farming community and the spectre of the opposition parties burying their differences to take on the government, Prime Minister Manmohan Singh indicated that the sugarcane ordinance would be suitably amended if it went against the interests of the farmers. (India Times)
Little hope for Copenhagen talks Nov 20, 2009
NEW DELHI: Leave aside a binding agreement on climate change, the 190-country Copenhagen conference on December 7 is unlikely to throw up even a political statement of high-sounding sentiments on the need to save the planet -- a statement, which countries were hoping, would give the direction for hammering out an agreement next year. The setback came in the just-concluded two-day ministerial meeting at Copenhagen on November 16-17, where persistent schisms on even most basic things such as a... (India Times)
Sachin Tendulkar mounts peak 30K Nov 20, 2009
NEW DELHI: After completing 17,000 runs in the 50-over format of the game, Sachin Tendulkar achieved another milestone by completing 30,000 runs in his international career during the first Test against Sri Lanka at Sardar Patel stadium in Ahmedabad. Tendulkar touched the magical 17,000-run mark in One-Day International cricket earlier in this month. (India Times)
Gold Q3 demand dropped by 49 pc: WGC Nov 20, 2009
NEW DELHI: Demand for gold waned by 49 per cent in the third quarter this year over the corresponding period last year, thanks to a surge in its prices, the World Gold Council (WGC) said on Thursday. "In India,...the exceptionally strong Q3'08 levels sa 00004000 w demand down by 49 per cent in Q3'09 comparisons" as high prices and a poor monsoon impacted on consumer spending and confidence, WGC said in a statement here. (India Times)
'Keeping SEZs out of direct tax code' Nov 20, 2009
NEW DELHI: The commerce department has opposed bringing tax-free special economic zones (SEZs) under the ambit of the proposed direct taxes code, arguing that it could hit the development of such zones and ultimately hurt exports. SEZ developers and units in these zones at present enjoy benefits under a special Act passed by Parliament and are spared from paying taxes on profits. (India Times)
How environment friendly vehicles can become mainstream Nov 20, 2009
Delhi and Mumbai have more than 100,000 commercial vehicles running on CNG fuel with Delhi having the largest number of CNG commercial vehicles running anywhere in the world ... There are further incentives on purchase of electric vehicles offered by Delhi Government and Ministry of New and Renewable Energy (MNRE). (India Times)
Policing role for China irks India Nov 19, 2009
NEW DELHI: India on Wednesday said that it was not comfortable with a policing role for China in South Asia. A day after US President Barack Obama encouraged China to play a more stronger international role and asked it to work with the US for bringing stability in Indo-Pak relations, New Delhi said that it will not countenance any move that will provide Beijing a wider footprint in the region. (India Times)
India attract global auto majors Nov 19, 2009
NEW DELHI: The midas touch of India is clearly visible on the financials of global auto majors. Just like Japanese auto majors Suzuki and Honda , that get a sizeable portion of their revenues, sales and profits from their Indian subsidiaries , Korean car giant Hyundai too is increasingly banking on its Indian operations for adding weight to its business as numbers stay uncertain in developed markets due to economic recession and slowdown. (India Times)
Food price index up 14.55% y/y as at Nov 7 Nov 19, 2009
NEW DELHI: India's food price index was up 14. 55 percent in the 12 months to Nov. 7, while the fuel index was down 1. (India Times)
India to import rice Nov 19, 2009
NEW DELHI: India, a traditional rice exporter, will import the grain for the first time in 20 years to meet a projected shortfall of the crop hit by drought and floods, the government said on Wednesday. We started rice season, that is from October 2009, with almost six million tonnes 00004000 of surplus. (India Times)
US tries to pacify India Nov 19, 2009
WASHINGTON: After ruffling feathers in Delhi with a reference to Indo-Pak ties, the US today sought to pacify India saying it has to decide with Pakistan the substance, scope and pace of their relationship ... Trying to placate New Delhi which is upset over the joint statement issued in Beijing after talks between President Barack Obama and his Chinese counterpart Hu Jintao, the US said it has an "equally important relationship" with India as that with China. (India Times)
'FII inflow not matter of concern' Nov 19, 2009
NEW DELHI: Big money flowing into the stock market from fore 00004000 ign institutional investors (FIIs) is not a matter of concern, says finance minister Pranab Mukherjee on Wednesday. Speaking at a function in the Capital on Wednesday to inaugurate the core banking solution of regional rural banks, the FM said there was a mechanism in place to look at it and there was no cause of concern at this point. (India Times)
TK Arun: Hindi endangered? Nov 19, 2009
But consider two facts to remove all snide laughter from a debate on Hindis future: one, the telling absence in Delhi of even a single poster of a Hindi film that is written in Hindi; two, the wholly muted reaction to the assault on Hindi via the assault in the Maharashtra assembly on Abu Azmi for taking his oath as a member of the legislature in Hindi. Lets face facts. (India Times)
AAI to raise Rs 1,200 cr Nov 19, 2009
Till recently, AAI had surplus funds as investment in the Delhi and Mumbai airports was frozen prior to corporatisation of these airports. The situation has undergone a major change after the government decided that AAI will upgrade both Chennai and Kolkata airports, along with 35 non-metro airports. (India Times)
Gold may fall by Rs 500 next week Nov 19, 2009
NEW DELHI: Blaming a rush of investor-buyers for pushing the price of gold to over Rs 17,000, market experts said the yellow metal might get cheaper by about Rs 500 per ten gram by next week on profit-booking. Investors are expected to book profits after 00004000 the recent record-breaking rally, and the metal would come down to below Rs 17,000 levels soon, according to analysts. (India Times)
Infra play gets a push, IIFCL gets $700 mn loan Nov 19, 2009
NEW DELHI: Asian Development Bank(ADB) has sanctioned a loan 00004000 of $700 million to state-owned India Infrastructure Finance Company (IIFCL) at marginally below the London inter-bank offered rate (Libor). The fund will be disbursed over the next five years for a period of 20 years from the date of disbursal. (India Times)
Sugar protest leads parliament to shut Nov 19, 2009
NEW DELHI: Thousands of Indian farmers protesting low state-controlled sugarcane prices forced the postponement of the first day of the parliamentary winter session on Thursday, highlighting rural discontent over government policy. Some 5,000 farmers from Uttar Pradesh, India's biggest cane producing state, marched to the opening of the parliament to demand higher state-set prices for sugarcane. (India Times)
U.S. Approves Visa for Indian Scientist Nov 19, 2009
State Department officials said yesterday that the U.S. Embassy in New Delhi has granted a visa to a prominent Indian scientist who said he was accused of deception and potential links to chemical weapons production when he applied to a U.S. consulate. Goverdhan Mehta said he was told two weeks ago that his visa had been "refused" and that his expertise in chemistry could be a threat to U.S. national security. (Yahoo News -- Biological and Chemical Weapons)
FBI: Terror plot suspects had ties to Pakistan Nov 19, 2009
Associated Press Writer Ashok Sharma in New Delhi contributed to this report. . (Muscatine Journal, IO)
25,000 onsite H-1B inspections Nov 19, 2009
NEW DELHI: US immigration officials are taking H-1B enforcement plan to conduct 25,000 on-site inspections of companies hiring foreign workers over this fiscal year, according to a report in ComputerWorld. According to the report, the move marks a nearly five-fold increase in inspections over last fiscal year, when the agency conducted 5,191 site visits. (India Times, India)
Honeywell to open centre in India Nov 19, 2009
NEW DELHI: US-based multinational company Honeywell plans to set up a new technology centre in India with an investment of $34 million. "The centre will also include labs for process and applications development for other specialty materials technology areas, including fluorine products and nylon materials," the company said in a release. (India Times, India)
COMMENT: Thaw In The Valley Nov 19, 2009
Indian officials and a section of the Hurriyat Conference have met in New Delhi though details of the discussions have been held back from the public. The intricate matrix of Kashmir talks involves representatives of New Delhi, Islamabad, and a section of the Kashmiri separatists ... The Mirwaiz faction of the Hurriyat hopes that a tripartite dialogue involving New Delhi, Islamabad and Srinagar is possible and could pave the way for a New Delhi-Srinagar pact endorsed by Islamabad. (India Times, India)
Meteors spark delight ... and disappointment Nov 19, 2009
NEW DELHI - Thousands of stargazers across Asia stayed awake overnight to catch a glimpse of what was advertised as an intense Leonid meteor shower, but the show fizzled rather than sizzled for many because of cloudy conditions. One group of about 30 amateur Indian astronomers saw the meteors light up the sky at the Siriska wildlife sanctuary, about 95 miles (150 kilometers) south of New Delhi counting 78 during a four-hour period. (MSNBC -- Technology)
* World News Quick Take Nov 19, 2009
At least 61 employees from a plant belonging to South Koreas Samsung Group were admitted to a hospital near New Delhi following a suspected gas leak on its premises, officials said yesterday. The incident occurred at the multinational companys washing machine assembly unit in Delhis suburb of Noida on Tuesday night. (Taipei Times, Taiwan -- World)
Governance code for unlisted cos Nov 19, 2009
NEW DELHI: The Ministry of Corporate Affairs is all set to introduce a governance code for unlisted companies on the lines of the one for listed firms to encourage more companies to register on the stock exchanges. Elaborate disclosures and compliance with governance code is seen as one big reason why many companies do not want to raise public funds and list on exchanges. (India Times)
Centre asks PSBs to hunt for M&As Nov 19, 2009
NEW DELHI: The government has asked the countrys largest state-run banks to look out for mergers and acquisitions opportunities, saying consolidation is imperative to augment efficiency, and prop up the countrys GDP.. Finance Ministry officials, who met with the heads of the countrys largest public sector banks on Wednesday, asked them to start identifying strategic fits after considering geographical and business synergies. (India Times)
Carmakers rejig Europe export plan Nov 19, 2009
NEW DELHI: Indian car makers have revised downwards their export targets as governments in Europe have exhausted cash incentives for small fuel-efficient cars. Hyundai and Maruti Suzuki India that exports in large numbers was performing well largely due to this generous policy that lasted for eight months (February-September). (India Times)
