| POLICY WATCH |
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Cos get nod to hedge carbon credits, freight deals abroad
RBI has allowed Indian companies to hedge carbon credits and freight contracts on overseas exchanges, a move that will help them cope with the intense volatility in global markets. [More]
RBI extends FCCB buyback norms to Dec 31
RBI, on March 13, 2009, decided to extend the date for completion of the procedure for buyback of foreign currency convertible bonds (FCCBs) from March 31, 2009 to December 31, 2009. [More]
CBDT amends income tax rules for PF trusts
The Central Board of Direct Taxes (CBDT), the apex direct taxes body, has issued a notification aligning the investment pattern prescribed in its rules with the new ones issued by the Department of Economic Affairs (DEA) to allow provident fund (PF) trusts' equity investments tax-free status. [More]
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| PEOPLE |
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Italian award for Ex-NID chief
Italy's Ambassador to India, Mr Roberto Toscano, presented the prestigious Star of the Italian Solidarity Award to Dr Darlie Koshy, Director-General of the Apparel Export Promotion Council's (AEPC) education and training initiatives, in New Delhi on March 18, 2009. [More]
Rajendra K Pachauri will lead Yale Climate and Energy Institute
Rajendra K Pachauri will lead the newly established Yale Climate and Energy Institute (YCEI), which will support research and outreach, international collaboration, partnerships with business and industry, and green design efforts that can be implemented and tested within Yale and the surrounding region. [More]
Indian amongst finalists of prestigious Sony World Photography Awards for 2009
Amit Madheshiya of India has been chosen as a finalist in the category of Photo Journalism and Documentary - Arts and Entertainment (Professional) for the prestigious Sony World Photography Awards for 2009. [More]
Bangalore techie wins State Dept global online video contest
Bijoy Thangaraj, a Bangalore-based technical developer, has been declared one of the worldwide winners in the US Department of State's online cultural video contest by the Abode Foundation. [More]
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| ECONOMY AND ENTERPRISE |
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India could be an engine for global economic revival: RBI Governor
The Indian economy is likely to recover much earlier from the impact of the global downturn than other countries, RBI governor, Mr D Subbarao said at the G-20 meet held in London. [More]
Indian financial system resilient, says former IMF chief Camdessus
Michel Camdessus, who was the chief of International Monetary Fund (IMF) and is now the special envoy of French President Nicholas Sarkozy for G20 deliberations on the global economic crisis, appreciated the government's efforts including injection of more capital into the financial system to counter the economic slowdown. [More]
India adds 13.45 mn mobile users in Feb: TRAI
The Indian telecom scene continues to record robust growth with operators adding over 13 million customers in February 2009, higher than the average additions of 10 million in the past few months. [More]
India to become member of Basel, FSF
India has been invited to become a member by the Basel Committee on Banking Supervision (BCBS), which provides a forum for regular cooperation on banking supervisory matters, and the Financial Stability Forum (FSF), which was established by the G7 finance ministers and central bank governors. [More]
Infosys, Cognizant buck trend; move up in global 3000 list
Top Indian tech companies such as Infosys and Cognizant have bettered their rankings in the elite list for the 3,000 top global companies, based on their market capitalisation. [More]
IIFCL to lend Rs 10k cr to banks for infrastructure sector loans
Public sector infrastructure funding agency, India Infrastructure Finance Co (IIFCL), will lend Rs 10,000 crore (US$ 1.94 billion) to banks for financing highways, ports and other projects being jointly executed by the government and private players. [More]
India emerges as drug testing hub
The global clinical research outsourcing market is projected to touch US$ 23 billion by 2011 and consultancy firm KPMG estimates that India will corner 15 per cent of this in two years. [More]
NTPC eyes generation assets abroad, retail distribution biz
India's largest power generator, NTPC, in a tie-up with the Centre for 2009-10, proposes to develop a portfolio of generation assets in international markets and enter into retail distribution and direct power supply. [More]
R-ADAG to buy 51% in UK currency company
Reliance ADAG is acquiring a 51 per cent stake in UK-based currency exchange and money transfer firm, No 1 Currency, to foray into the international forex business in a deal that will mark the first overseas acquisition of a foreign exchange company by an Indian firm. [More]
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Innovation seems to be the answer to the challenging times across the globe currently. Clearly, innovators with unique but feasible ideas are ruling the roost. In the league is the Nano, which is being commercially launched today and is innovative on multiple levels – in engineering, marketing and manufacturing. Others include Unilever, Nokia and Sun Microsystem.
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"Chennai-Bangalore can be Detroit of South India."
Hiroshi Nakagawa
Managing Director
Toyota Kirloskar Motor |
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Indian scientists, belonging to the Indian Space Research Organisation (ISRO) and other participating agencies, have discovered three new species of bacteria not found on Earth and which are highly resistant to ultra-violet radiation. [More]
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Project Vikas to IT-enable leather SMEs
Microsoft India has introduced 'Project Vikas', an initiative to IT-enable small and medium enterprises (SMEs) in the leather clusters in Chennai and other centres around Tamil Nadu. [More]
Tata Steel to host 10-day Gram Shree Mela
Tata Steel's corporate sustainability services (CSS) division is organising the 17th Gram Shree Mela in association with non-government organisations and the central government to promote rural handicrafts. [More]
GE adds green 'Odyssey' to its India centre
American conglomerate General Electric (GE) has expanded its research and development (R&D) capabilities in India by opening a new facility, Odyssey, in Bangalore. This green initiative has bagged the Leadership in Energy and Environmental Design (LEED) gold certification. [More]
'Project Antariksha' plans climate atlas of Kerala
Project Antariksha, a pioneering effort at networking Kerala through an array of satellite-based automatic weather stations (AWSs), intends to bring out a weather and climate atlas of the state. Interactive workshops are being planned to make people aware of the usage of the AWSs. [More]
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