Air India Select Four Directors
March 6, 2010
Air India Select Four Directors:The government on Friday appointed four new directors to the board of ailing National Aviation Company of India Limited (NACIL) — the company that runs Air India.
The new part-time directors — Mahindra and Mahindra vice chairman Anand Mahindra, secretary general of industry body Ficci Amit Mitra, Air Chief Marshal Fali H.Major (Retd.) and Ambuja Realty Group chairman Harsh Neotia — have been appointed for three years.
“We will give it (turning the company around) a sincere shot,” Mitra said. “I am looking forward to working with the new independent directors,” said Arvind Jadhav, CMD, NACIL.
India’s Stocks Fluctuate;Bharat Heavy Electricals Led Gains
February 15, 2010
India’s Stocks Fluctuate;Bharat Heavy Electricals Led Gains:Feb. 15 (Bloomberg) — Indian stocks fluctuated. Bharti Airtel Ltd. fell after offering to buy most of the African assets of Kuwait’s Zain. Bharat Heavy Electricals Ltd. led gains after factory output rose the most in 16 years.
Bharti, India’s largest mobile-phone operator, sank the most in more than three months. Bharat Heavy, India’s biggest power-equipment maker, advanced 1.5 percent.
“There is a feeling that the Bharti deal may be done at a much higher price than required,” said Rahul Jain, head of India sales at Prabhudas Lilladher Pvt. in Mumbai. Accelerating industrial output suggests “people feel that companies will increase their capital expenditure” to benefit from demand.
The Bombay Stock Exchange’s Sensitive Index, or Sensex, fell 68.18, or 0.4 percent, to 16,084.41 at 11:27 a.m. in Mumbai, erasing an earlier gain of as much as 0.5 percent. The gauge swung between gains and losses at least five times. India’s stock markets were closed Feb 12 for a public holiday.
The S&P CNX Nifty Index on the National Stock Exchange fell 0.1 percent to 4,824.15. The BSE 200 Index advanced 0.1 percent to 2,049.20.
Bharti dropped 5 percent to 298.90 rupees, its steepest decline since Oct. 30. The company offered $10.7 billion for most of the African assets of Kuwait’s Zain, a move that would create one of the largest emerging-markets phone operators. The offer marks Bharti’s third attempt to enter Africa that included its failed bid last year to buy South Africa’s MTN Group Ltd. for about $23 billion.
Factory Output
Bharat Heavy rose 1.5 percent to 2,355.5 rupees. Output at factories, utilities and mines jumped 16.8 percent from a year earlier in December after gaining 11.8 percent the previous month, according to a Feb. 12 statement from the government’s statistics department.
Overseas investors sold a net 236 million rupees ($5 million) of Indian stocks on Feb. 10, increasing their total outflow from equities this year to 27.5 billion rupees, according to the nation’s stock market regulator.
Foreign fund inflows into India’s stock market rose to a record 834.2 billion rupees in 2009, beating the previous high set two years earlier in local currency terms, as the biggest rally in 18 years lured foreign investors. They sold a record 529.9 billion rupees of shares in 2008, triggering the biggest ever annual decline.
Guarseed Futures Extanded Up To 2.6 Pc
February 11, 2010
Guarseed Futures Extanded Up To 2.6 Pc:New Delhi, Feb 11 (PTI) Guarseed futures prices today extended gains by adding Rs 65 or 2.58 per cent to Rs 2,585 per quintal due to frantic buying by traders, guided by a firming spot market cues. Marketmen said, restricted supply from the producing regions and heavy demand from cattlefeed makers mainly pushed up guarseed futures prices.
On the National Commodity and Derivatives Exchange counter, guarseed futures prices for June contract shot up by 2.58 per cent or Rs 65 to Rs 2,585 per quintal, with an open interest of 640 lots. February contract also edged up by 0.86 per cent or Rs 21 to Rs 2,458 per quintal and in an open interest of 85,470 lots.
Barley Futures Rises
February 10, 2010
Barley Futures Rises:New Delhi, Feb 10 (PTI) Barley futures prices improved by Rs 8.80 to Rs 972 per quintal today following fresh buying by traders at low levels. At the National Commodity and Derivatives Exchange counter, barley for April contract improved by 0.91 per cent or Rs 8.80 to Rs 972 per quintal, with an open interest of 4,160 lots.
However, other contracts did not trade in the absence of buying and selling activity. Marketmen said short covering by traders mainly put barley futures prices in the green zone.
Snowfall And Rain In Jammu
February 8, 2010
Snowfall And Rain In Jammu:Jammu, Feb 8 : Intense cold waves sweep across this region after intermittent rains and snowfall since past 24 hours.
Upper reaches received heavy snowfall while low-lying areas were lashed by rains, bringing down day temperature.
Vehicular movement on 300-km-long Jammu-Srinagar national highway-1A remained suspended due to snowfall en route on the third consecutive day today, police control room said.
It was raining at famous cave shrine of Mata Vaishnodevi since last night, police sources said, adding that bad weather conditions have also affected the number of pilgrims reaching Bhawan.
Flash floods were reported due to heavy rains across the mountainous districts of Kishtwar, Doda, Ramban, Udhampur and Reasi.
Normal life in upper reaches of Doda and Kishtwar districts was affected due to snowfall, sources said.
People have alleged shortage of kerosene oil and firewood, which used to be sold at stalls of the Forest Department.
‘’Firewood from the fallen trees in the forests could have been extracted by the department for sale at its stalls, as it used to be earlier, for common people,’’ social worker Khursheed Ahmed told UNI.
Meanwhile, Pradesh Congress Committee state general secretary Mehraj-ud-Din Zargar criticised the Power Development Department for irregular electricity curtailments and demanded action against officials who deliberately cut supply to create misunderstanding among people regarding government plans.
Kirit Parikh recommend To Make CPI See Red
February 4, 2010
Kirit Parikh recommend To Make CPI See Red:New Delhi, Feb 4 : The Kirit Parikh Committee recommendations on fuel prices have started generating political heat with the CPI today asking the Centre not to accept them as they would burn a very large hole in the pocket of the common man.
The Parikh committee has recommended to the Government to increase the price of LPG by Rs 100 a cylinder and a hike of Rs 6 a litre for kerosene. The panel has also asked the Government to move towards total decontrol of petrol and diesel prices.
The party, in a statement, said the Congress-led UPA government has failed to control the prices of essentials, particularly food prices which have shot up considerably.
It blasted the Government for ”trying to shift the blame on state governments while continuing with its neo-liberal economic policies”.
”The Parikh panel recommendations are meant to protect the profiteering of private corporate companies. Their argument of increasing per capita income of the rural and urban masses is based on motivated calculation to help private sector oil companies. It has nothing to do with facts and realities,” it averred.
”The average per capital income may appear to have increased because the upper layers of society have become more rich and affluent. But the lower strata remains poor and has become poorer.
It is they who will face the impact of rising prices,” it rued.
The party refused to buy the panel’s contention that it will not further fuel inflation, saying when inflation is on the uptick every slight push is bound to further raise it.
It sought support of people to the all Indian rally called by the Left Parties in New Delhi on March 12 against price rise and other issues.
Indian Border Areas Securit Strengthened
February 2, 2010
Indian Border Areas Securit Strengthened 
efence Minister A.K. Antony Tuesday said security in all border areas, including Arunachal Pradesh, was being strengthened to meet any eventuality or threat.
“We are strengthening security apparatus on all borders across land, sea and air to meet any eventuality or threat,” he said.
Antony was talking to reporters here after witnessing the flight display of several aircraft being produced for induction in the Indian Air Force by 2014.
The defence minister said strengthening security on borders was an act of deterrence and not for confrontation. India, he noted, was for maintaining friendly relations with all its neighbours.
“The security beef up is not just in Arunachal Pradesh, which is an integral part of India. The beef up was to increase our deterrence against any eventuality,” Antony asserted.
Pakistan Army designed A New Plan For The IDPs
July 6, 2009
ISLAMABAD: Pakistan Army designed a new plan for the IDPs’ returning to their houses in Malakand.
Director-General programme for rehabilitation of IDPs Shakeel Qadir told Geo News in an exclusive talk that programme for rehabilitation of IDPs from affected areas consists of three phases.
Measures will be started for restoration of facilities in first phase, compensation for destructed houses in second phase and then steps will be taken towards further development.
NJP Will Strengthen Free Judiciary: CJ Iftikhar
July 4, 2009
ISLAMABAD : Chief Justice of Pakistan Iftikhar Mohammad Chaudhry said National Judicial Policy will strengthen free judiciary system in the country.
Addressing to the National Judicial Policy (NJP) conference here on Saturday Chief Justice said the goal of NJP is great and our mission is to provide justice to everyone at everywhere.
He further said we have to make our judiciary system fair and organized and all judicial decisions will be taken without any pressure and fear.
Populist Indian rail budget leaves fares untouched
July 3, 2009
NEW DELHI (AFP) – India’s railways minister announced a freeze in passenger and freight fares as she presented a budget Friday that contained a slew of populist measures aimed at improving rail travel amenities.
Unveiling her ministry’s plans for 2009-10, Mamata Banerjee also announced an additional 50 billion rupees (one billion dollars) in government funding to upgrade services, including 12 new non-stop trains connecting main cities.
“The railways must set an example to promote inclusiveness,” Banerjee told parliament.
“The old mindset of economic viability should be substituted by social viability,” Banerjee added as she unveiled special monthly tickets of 25 rupees for the poor.
She also promised to put specially trained security personnel on trains to improve passenger safety.
“I am also aware that recession in the economy has caused much suffering for the poor. That’s why I don’t propose any increase in passenger fares or on all categories of freight,” she said.
Banerjee’s proposals include 57 new trains, extending the frequency of 13 services and upgrading 50 railway stations to global standards funded partly by private investment.
She projected gross traffic earnings of 884 billion rupees for 2009-10, 85 billion rupees more than last year but marginally lower than the receipts outlined in the provisional budget announced in February.
The railways has also estimated a freight loading target of 882 million tonnes, an increase of 49 million tonnes over last year.
Speaking to reporters after the budget session, Prime Minister Manmohan Singh complimented Banerjee on “a competent job she has accomplished in the shortest available time.”
India’s railway budget is presented separately from the national budget, to be announced Monday, in keeping with a practice set by the British and maintained due to the huge freight and passenger volume.
Till recently a loss-making utility, Indian Railways has become a profit-making enterprise under the Congress government which was re-elected in the April-May polls.
The railway — still the main form of long-distance travel in India with 1.1 billion people despite fierce competition from new private airlines — runs 14,000 passenger and freight trains and carries 18.5 million people daily.
Source:http://news.yahoo.com
