Economy

By IANS, Hyderabad : Organically grown cotton is more profitable for farmers than Bt cotton, a new Greenpeace report said here Tuesday. "In the year 2009-10, farmers cultivating cotton through organic practices earned 200 percent more net income than farmers who grew genetically engineered cotton (Bt cotton)," the report said. The report 'Picking Cotton - The choice between organic and genetically-engineered cotton for farmers in South India' is a comparative analysis of the two methods of agriculture among cotton farmers in Andhra Pradesh.

By IANS,

By IANS, Mumbai : Inflation is pinching Mumbai's world-famous dabbawallas, who ferry lunch boxes all over the city with mind-boggling efficiency. As a result, the service charge has been hiked by Rs.50 per customer from July. This is the second "unavoidable hike" in two years - in 2008, the service charge was hiked by Rs.30, Nutan Mumbai Tiffin Box Suppliers' Charitable Trust (NMTBSCT) president Raghunath Medge told IANS. "We shall request all the customers to bear with our predicament forcing us to hike our charges," Medge said, almost sounding apologetic.

By DPA, New York : Western European cities are the most "egalitarian" in the world, said a new study by United Nations Habitat, which compared levels of income inequality in the world's largest cities. Beijing is the "most equal" in Asia, said UN Habitat, a programme to assist governments in improving housing and living conditions in developing countries. The study, which was released Monday, said that income inequality is relatively low in Denmark, Finland, the Netherlands and Slovenia.

By IANS,

By IANS, New Delhi: If, as a corporate, you that think employing a physically challenged person is just philanthropy, think again. It may actually benefit your business if you harness the talent in the right way. The idea of bringing corporates and the physically challenged closer for mutual gain is part of an NGOs initiative aimed at creating over 100,000 jobs for the disabled. A special training programme aimed at connecting the corporate and the physically challenged was recently launched by the Wadhwani Foundation, a non-profit organisation working towards business innovations.

By IANS Mumbai : Indian equity markets Tuesday hovered between positive and negative zones caused by weak global markets. Auto, banking and IT stocks ended in the red while metal stocks continued their rally. The 30-share sensitive index (Sensex) of the Bombay Stock Exchange ended up 2.84 points or 0.02 percent at 18,663.16. The broader 50-share S&P CNX Nifty on the National Stock Exchange was up 20.40 points or 0.37 percent at 5,483.90.

By IANS, New Delhi : While bilateral relations between Pakistan and India may not be very cordial at the moment, businessmen across the border have found a new area for collaboration - alternate energy. About 30 Pakistani companies sent representatives to Delhi during the Renewable Energy Expo 2008 that ended Saturday to scout for new technology and expertise to skirt over chronic energy shortage in that country.

By IANS Kathmandu : India's Eastern Railway is upgrading links between frontier town Jogbani and Kolkata with improved services expected from March, a report said. Jogbani, located in Arariya district of Bihar, is the nearest Indian railhead for Nepal. Currently, it is connected to Katihar town in Bihar through metre gauge tracks.

By IANS Mumbai : Indian markets regulator Securities and Exchange Board of India (SEBI) Chairman M. Damodaran Thursday said overseas pension, endowment, university and charitable funds will now be allowed to register themselves as foreign institutional investors (FIIs). The SEBI chairman said there is no change or dilution on `know your customers' (KYC) norms for registration as FIIs. The chairman also allowed hedge funds to invest in Indian equities but with a condition that they have to be regulated in the originating country.

By DPA, New York : US stocks surged Thursday after a steep dive a day earlier amid ongoing fears of a global recession. The blue-chip Dow Jones Industrial Average gained 401.35 points, or 4.68 percent, to 8,979.26 in a late rally, partly on the back of falling oil prices. In a sign of the uncertain times, the index dipped and rose during the day over a span of more than 700 points for the sixth straight day, according to Bloomberg News.

By IANS Ahmedabad : Australia-based Farnow Technologies has tied up with Gujarat's FieldMarshal group to invest nearly Rs.10 billion ($250 million) for assembling battery-powered three-wheel rickshaws and cars in India. "We intend to assemble at least 50,000 cars a year, besides the three-wheelers. We also have plans for electric buses later," said Chandrakant Patel, managing director of FieldMarshal Group. "But the investment for the bus project will be separate," Patel told IANS.

By IANS, Kolkata : City-based non-banking financial company Srei Equipment Finance hopes its loan disbursement would grow to Rs.7,500 crore this fiscal from Rs.5,500 crore in 2008-09 as the construction equipment industry is picking up. "We are targeting Rs.7,500 crore disbursement in the current year. Till September we have disbursed Rs.3,000-3,500 crore. Last year we disbursed Rs.5,500 crore," D.K. Vyas, chief executive of the company, told reporters here on the sidelines of a seminar.

By IANS, New Delhi : The nationwide strike by transporters continued for the seventh day Sunday despite several states using provisions of law to term it illegal even as Union Surface Transport Minister T.R. Baalu called a meeting with his state-level counterparts here Monday to find ways to end the impasse. The central government once again said it was willing to hold talks with the protesters to find a solution but the All India Motor Transport Congress (AIMTC), which called the agitation, made it clear that no parleys were possible until their leaders were let off by authorities.

By IANS, New Delhi : Jet Airways, the country's leading private carrier, Monday agreed to pay 3 percent of airfare to travel agents as commission, and Kingfisher Airlines too is expected to sign a similar deal this week. "The commission scheme will come into effect immediately and will replace the transaction fee model recently introduced," the airline said in a statement. However, the company's low-cost carrier JetLite will continue with the transaction fee system.

By IANS, Mumbai : Indian equities markets, which were fluctuating between negative and positive terrains during earlier sessions, climbed back into the green Thursday afternoon, with a key index ruling almost 1 percent higher than its last closing figure. The 30-scrip Bombay Stock Exchange (BSE) sensitive index (Sensex), which opened at 10,876.15 points, was trading at 10,847.8 points - a rise of 105.46 points or 0.98 percent from Wedenesday's close. Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE) gained 0.5 percent to rule at 3,362.05 points.

By IANS Mumbai : It was an unprecedented but smart recovery at Indian stock markets as bulls fought bears in the last hour of trade. The market slipped from higher levels and shed nearly 2 percent on heavy selling but bulls helped the benchmark index pull back. The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) shut shop at 18,526.32 points, down by 76.30 or 0.41 percent. The broader S&P CNX Nifty of the National Stock Exchange (NSE) closed at 5,515 points, down by 41.70 points or 0.75 percent.

New Delhi : The India Electronics and Semiconductor Association (IESA) is expecting to garner Rs.10,000 crore investment in the electronic system design and manufacturing...

By IANS, Kolkata : Bus fares will be increased by 50 paise in Kolkata following the hike in the prices of petroleum products, West Bengal Transport Minister Subhas Chakraborty announced Friday. "Bus fares in Kolkata will increase by 50 paise at the soonest due to the rise in petrol prices. However, taxi fares will not be increased right now," Chakraborty told reporters at Writers' Buildings, the seat of the state government, here. "We have increased the fare nominally so that it no way becomes a burden for the public," he added.

By IANS,

By KUNA, Islamabad : Pakistan and India Tuesday resumed trade at the controversial Line of Control (LOC), dividing disputed Kashmir territory between the two archrivals, after 61 years. About fifteen trucks carrying trade items from Poonch area of Indian-side Kashmir reached Rawlakot of Pakistan-side Kashmir. Whereas, about eleven trucks from Pakistan left for Indian-side of Kashmir territory. The decision of opening trade corridors between the two sides was taken during meeting of President Asif Ali Zardari and Indian Prime Minister Manmohan Singh in Washington recently.

By IANS, New Delhi : Aggressive pricing by Chinese exporters, coupled with lack of credit flow and cancellation of orders, is crippling India's exports, which may go down further in the first half of 2009, said an industry lobby survey, released here Sunday. According to the report by the Federation of Indian Chambers of Commerce and Industry (Ficci), Indian exporters are facing 'meet the China price' challenge from across the market. Many Indian exporters have already cut their prices by an average 10-15 percent or even more in some cases to retain their hold in the market.

By IANS, Jamnagar (Gujarat) : Three employees of a courier company in this Gujarat town have allegedly decamped with Rs.1.4 million, police said Thursday. Suresh Natalal Prajapati, manager of Patel Mahindra Somabhai courier company, filed a complaint against Vikramji Harakhai Thakor, Arvind Kantilal Nai and Govindbhai Thakor Wednesday. "Prajapati said the cash was given to the three employees for delivery at different places but they vanished with it," said V.J. Vyas, sub-inspector at Darbargadh police station.

By NNN-PTI
 
Kolkata : India is the fastest growing internet market in the world with over 23 million active internet users, holding out prospect of a larger growth in the number of netizens.

The top eight metros were driving the growth of internet in India with fast growing adoption in smaller cities, said Manish Agarwal, Vice-President (Marketing) of rediff.Com, one of the leading online community portals.

By IANS New Delhi : Hailing India's economy as stable, international ratings agency Fitch has upgraded its ranking to the investment grade 'BBB-' (BBB minus) while recommending greater thrust on fiscal reforms. "Fitch upgraded India to investment grade in August 2006. One year on, the growth story remains firmly intact, reinforced by strong net capital inflows and further advances in India's external solvency and liquidity indicators," Paul Rawkins, senior director, Fitch said in a statement.

By IANS, New Delhi : India's personal computer sales touched 2.2 million in the first quarter of this year, registering a growth of an impressive 33 percent, says IDC, a leading technology consultancy and think tank. Among the various segments, desktop computers accounted for nearly two-thirds of the total sales at 1.44 million units, representing an 18 percent growth, while notebook sales were up 72 percent with 803,000 thousand.

By IANS, New Delhi : Careful cash management is the key to corporate growth in the current tight liquidity situation as there are now many merger and acquisitions opportunities, according to top officials of leading global financial advisory and services firm Deloitte Touche Tohmatsu. "Companies that have managed their balance sheets well and have cash in hand have an advantage over others who do not have liquidity in the current tight credit situation," said Deloitte's global chief executive officer James H. Quigley here Saturday.

By IANS Ranchi : The Jharkhand government has asked Steel Authority of India Ltd (SAIL) to provide details of its iron ore requirements from the Chiria mines in the state. The government wants to allot a part of the Chiria mines to ArcelorMittal. ArcelorMittal requires 600 million tonnes of iron ore in the next 30 years for a 12-million tonne steel plant it wants to set up in the state. The state government and SAIL are fighting a legal battle in Jharkhand High Court for the past two years over possession of the Chiria mines, located in West Singhbhum district.

By IANS, Mumbai : A benchmark index of the Indian equities markets rallied smartly to end 523 points higher Wednesday, recouping more than the previous day's losses. The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened higher at 15,487.97 points, shut shop at 15,928.08 points (provisional), 523.93 points or 3.4 percent above Tuesday's close at 15,404.94 points. Around the same time, the S&P CNX Nifty of the National Stock Exchange (NSE), too, was in positive terrain at 4,716.85 points, up 3.35 percent or 152.95 points from its last close.

By IANS New Delhi : Traders, farmers and hawkers across the nation Thursday staged protests against the entry of global retail majors in India in the wake of a recent announcement by Wal-Mart, world's largest retailer, about its plans for India. "The livelihoods of retail traders are at stake. If big retail giants like Wal-Mart come into the country, small traders would be finished," said Praveen Khandelwal, general secretary, Confederation of All India Traders (CAIT).

By IANS

New Delhi : India and Singapore Wednesday launched a CEOs forum, comprising top corporate leaders, to provide further push to business ties that have been growing following a comprehensive economic cooperation agreement the two countries signed nearly two years ago.