No rice import for now: govt

Against the backdrop of rising global prices, the government on Friday decided against rice import stating it has enough stocks to manage demand despite a shortfall of 15 million tonne in Kharif production.

Bank unions call strike December 16

The All India Bank Employees Association and All India Bank Officers Confederation have jointly given a call for nationwide bank strike on December 16 to protest the move for consolidation in the state-owned banking industry.

TV18 to merge ops of business channels; 12% layoffs on cards

With a view to align businesses and build operational synergy, media company Network18 said it would restructure operations of its flagship company TV18 India by merging broadcasting operations of two of its business news channels — CNBC TV 18 and CNBC Awaaz.

‘MSME growth can boost GDP’

The Planning Commission on Friday called for facilitating higher growth of micro, small and medium enterprises (MSMEs) in order to achieve inclusive growth for the economy. MSMEs employ 60 million people, and account for 30% of the country’s manufacturing gross domestic product and 40% exports.

Forex reserves up at $286 bn despite weak greenback

The country’s foreign exchange reserves rose by $962 million to $286.4 billion for the week ended November 13, 2009 despite dollar weakening nternationally, the Reserve Bank of India said in its weekly statistical supplement released on Friday.

Now, an info desk to make NPS popular

In a bid to popularise the New Pension Scheme amongst private citizens, the Pension Fund Regulatory and Development Authority is planning to set up an NPS Information Desk.

Uncertainty over 3G auction continues

Uncertainty over auction of 3G spectrum continues as an eGoM seems to have remained unable to resolve differences between telecom and defence ministries over vacation of the airwaves.

RNRL okay with govt as part in RIL row

Reliance Natural Resources Limited told the Supreme Court on Thursday that it has no objection to the government being a party in the dispute between Reliance Industries Limited and RNRL provided the rights of RNRL to cross-examine and inspect the government’s documents are reserved.

Food inflation up at 14.55% on dearer cereals

Wholesale price of food items rose 14.55% for the week ended November 7 from a year earlier due to dearer cereals, dairy items as well as mutton and eggs. However, wholesale prices of fuel-related products dipped 1.51% in the week under consideration, compared to the corresponding period of the previous year.

India won’t accept limit on emission

India would not accept any legally binding cuts on greenhouse gas emission at the forthcoming Copenhagen summit on climate change but would be ruthless in taking climate control measures domestically, environment minister Jairam Ramesh said on Thursday.

‘RNRL should ask for gas when Dadri plant is ready’

Continuing its arguments in the Ambani gas row, the government told the Supreme Court on Wednesday that Reliance Natural Resources Limited should ask for the gas produced from the K-G D6 fields when their Dadri power....

UP wants to complete Yamuna Expressway before Games

Intending to make Yamuna Expressway a growth engine for all future development of the state, the Uttar Pradesh government has issued directives that the expressway be completed and open to traffic before the 2010 Commonwealth Games in New Delhi.

‘Needed: special schemes for backward states’

Planning Commission deputy chairperson Montek Singh Ahluwalia on Wednesday said Bihar had made progress in infrastructure, education and health sectors and recorded desired economic growth in the last four years.

Credit growth sluggish at 9.78%; lowest in 12 years

During the fortnight ended on November 6, bank loans have gone up by Rs 23,148 crore taking outstanding advances to Rs 28,91,713 crore—an increase of over 9%—the slowest growth in 12 years. According to data from the RBI, credit...

India, Asean FTA likely to be operational by Jan

India would soon initiate the process to make the Asean Free Trade Agreement operational from January 1, 2010. The duty-free deal was signed in August 2009, in the midst of opposition from plantation sector farmers and political functionaries from southern states.

In Brief

The IT industry is ending its worst year ever, with the worldwide IT spending expected to decline 5.2% in 2009, IT research & advisory firm Gartner said. However, this industry would return to growth in 2010 with a total spending of $3.3 trillion, registering a 3.3% increase from 2009, the report said.

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