Week 37: Sept 13-17
September 13
Tatas say they would apologise before the Supreme Court for the ?unfortunate error? in filing documents that were referred to have been placed on record in the Delhi High Court. Earlier in the day, the government had put a question mark on the document filed by Tata Power, saying contrary to the claims of the company, the papers are dated much later than the dismissal of its petition in the Delhi High Court. Tata Power had challenged the Centre’s nod to allow Reliance Power on use of coal from captive mines for the Sasan Power Project.
More than three weeks after it announced the sale of a majority stake in its Indian arm to Vedanta Resources, UK’s Cairn Energy Plc formally applies to the government for approvals, saying it will meet all contractual requirements needed to fructify the deal. “We have received letters from Cairn and we are examining them. We will decide (on it) in due course,” says a senior ministry official.
September 14
The government claims India has become the seventh-largest vehicle producing nation in the world, six years ahead of the set target. Heavy industry ministry secretary BS Meena says by 2020, the country will be among the top five vehicle producers.
September 15
Gold prices surge to set a new peak level of Rs 19,285 per ten grams in futures market, as speculators indulge in frantic buying in line with a firming global trend. Silver, too, crosses the Rs 32,000 per-kg level to trade Rs 178, or 0.55% higher, to an all-time high of Rs 32,250 per kg in futures trade on firming global cues.
Delhi, Mumbai and Chennai ranked as the top employment generators in the country by creating over one lakh jobs during January-September 2010, says a Ma Foi Randstad survey. While these three cities are leading job generators, Kolkata, Bangalore and Hyderabad follow closely behind by creating 30,000 plus jobs during the same period, says the Ma Foi Randstad Employment Trends Survey.
In a bonanza for over five crore employees in the organised sector, the Employees Provident Fund Organisation (EPFO) decides to raise interest rate on their retirement savings by 1 percentage point to 9.5% for 2010-11. The EPF rate has been 8.5% since2005-06.
September 16
Determined to keep inflation on a leash and obviously encouraged by the 8.8% GDP growth in the first quarter of 2010-11, the Reserve Bank of India chooses to increase key policy rates in a move that is a shade more hawkish than the Street had expected. While the repo rate is increased by 25 basis points to 6%, the reverse repo is upped by 50 basis points to 5%,thereby narrowing the liquidity adjustment facility (LAF) corridor to just 100 basis points.
September 17
India has been ranked No. 1 among all countries in respect of both the inflow and outflow of expatriate executives, according to a survey of global firms conducted by leading financial journal The Economist. The survey found that 16% of respondents felt there is a likelihood of expatriates going to India, while 21% said there is a likelihood of expatriate executives coming from the country. The exercise was conducted by The Economist Intelligence Unit (EIU).
Telecom major Bharti Airtel says it has selected global technology giant IBM to manage computing technology and services for its African business. The company has selected IBM to manage the computing technology and services that power Bharti Airtel’s mobile communications network spanning 16 African countries, says Bharti in a statement.
September 19-25
3rd International Seminar & Exhibition on Battlefield Management System
September 21-22
Venue: Hotel Taj Palace, New Delhi
A Battle Field Management System provides an integrated Common Operating Picture (COP) using collaborative planning tools for tactical commanders to make responsive and knowledge based decisions and exercise highly effective control over operations in a dynamic and fluid battlefield.
Seminar on ?Doing Business with Japan?
September 21
Venue: Le Royal Meridien, Chennai
In spite of huge potential of growth in Indo-Japan economic relationship, the information gap is one area which is the major hurdle. To bridge this gap CII and Tamil Nadu Industrial Guidance and Export Promotion Bureau is organizing this seminar.
Biomedical Waste Management – Issues, Opportunities & Challenges
September 24
Venue: Hotel Taj Residency, Lucknow
This CII event seeks to bring together stakeholders to share their experiences of Biomedical Waste Management and provide a platform to learn from each other. Stalwarts from the healthcare industry will address the gathering and provide their all important vision and views on this vital subject.
India@75:Quality and Affordable Healthcare for All
September 24-25
Venue: Sheraton Park Hotels and Towers. Chennai
To facilitate Indian healthcare industry to develop better healthcare delivery model, CII Institute of Quality is organising this national conference.
Automation 2010
September 21-24
Venue: Bombay Exhibition Centre, Mumbai
The event intends to assemble all leading decision makers from automation industry, project design engineers, CEOs, managers, government representatives, manufacturers and potential buyers from all over the country. The exhibition showcases the latest innovations and solutions for the huge industry sector. The 5th edition of Automation will feature “Control Automation Technology Conference” that will provide an opportunity to be assembled and learn cost-effective ways to gain profit in the Automation market.
