Sydney, August 22: Oil spilled from a drilling rig 690 km west of the Australian city of Darwin Saturday as a cleanup operation was beginning to get underway.
The Australian Maritime Oil Spill Centre said Hercules aircraft were expected to begin spraying 50,000 litres of dispersant.
All 69 workers were taken off the West Atlas drilling platform when the leak was discovered Friday.
Kolkata, August 22: Railways Minister Mamata Banerjee, known for leading agitations against the Tata Group’s small car project in Singur and a special economic zone in Nandigram, was lavishly praised by West Bengal industrialists at a meeting here.
“We have confidence (that) under your leadership we can contribute meaningfully to India’s development,” RPG Enterprises vice-chairman Sanjiv Goenka said at an interaction here Friday.
Jackson Hole, August 22: U.S. Federal Reserve Chairman Ben Bernanke and other central bankers said on Friday the worst global recession in 70 years was nearing a close but warned it would be a long, slow climb back to normal growth.
At an annual Fed retreat set against the backdrop of the Grand Teton mountains, the officials said the coming recovery would have its ups and downs, and it was too soon to withdraw trillions of dollars in government and central bank support.
New York, August 22: Is it game over for the recession? Or will consumers stay in hibernation?
Investors will watch next week’s new home sales and consumer data to see if the economy’s recovery is on track and whether U.S. stocks — now at 2009 highs — will extend their rally.
Mumbai, August 22: The Anil Ambani Group’s Reliance Airport Developers Ltd (RADL) has bagged contracts worth a total Rs.63 crore (Rs.630 million) to develop airports at Yavatmal, Nanded, Osmanabad, Latur and Baramati in Maharashtra, according to an official announcement here Friday.
The Maharashtra Industrial Development Corporation (MIDC) has been given the green signal to sign the agreements with RADL as part of the government’s move to privatise five airports in the state.
Tiruchirapalli, August 21: BHEL, Tiruchirapalli has bagged a Rs 2,630 crore order from Monnet Power Company Limited, Orissa, to set up two 525 MW units.
MPCL is an independent power producer (IPP) belonging to the Monnet Ispat and Energy Group.
The order is for setting up an extended Boiler Turbine Generator package, involving two new-rating units of 525 MW each at Malibrahamani in angul district in Orissa, a BHEL press release said.
New York, August 22: US stocks soared to fresh year highs on a record jump in existing-home sales in July and Federal Reserve chief Ben Bernanke’s comments that global recovery prospects “appear good.”
The Dow Jones Industrial Average surged 155.91 points (1.67 per cent) to finish at 9,505.96 yesterday, the fourth day in a row of gains. The blue-chip index had not finished above 9,500 since early November and has now climbed about 45 per cent from its March low.
Mexico, August 22: The Coca-Cola Company plans to invest $5 billion over the next five years in Mexico to boost its presence in the country.
Mexico ranks second after US in market share of the company.
Coca-Cola CEO Muhtar Kent made the announcement during the inauguration of a juice plant of the company in Tepozotlan town in central Mexico Thursday. Mexican President Felipe Calderon also attended the function.
Mumbai, August 22: The Anil Ambani Group’s Reliance Airport Developers Ltd (RADL) has bagged contracts worth a total Rs.63 crore (Rs.630 million) to develop airports at Yavatmal, Nanded, Osmanabad, Latur and Baramati in Maharashtra, according to an official announcement here Friday.
The Maharashtra Industrial Development Corporation (MIDC) has been given the green signal to sign the agreements with RADL as part of the government’s move to privatise five airports in the state.
Johannesburg, August 22: India is committed to further expand and diversify its trade with Africa, to which South Africa was a gateway, Minister of Commerce and Industry Anand Sharma said here Friday.
Addressing the India Business Forum (IBF), an umbrella organisation of Indian business representatives in South Africa, Sharma highlighted the need for Indian businesses to continue their proactive engagement in South Africa with its emphasis on ethical factors as well as job creation and skills development for the local economy.
Mumbai, August 21: Bharti Airtel gained a profit of 2.8 percent on Friday with the closing of the market.
Bhati Airtel is having elite talks for a venture with a South African company MTN. this pact would move it to the numbering of world’s third operator.
Bharti Airtel and MTN have roll out their discussion till 30th Sep which is the 2nd porch of the year.
Bharti Airtel’s Chairman said that they are just waiting to hear the good news regarding the venture with MTN.
New Delhi, August 21: Driven by strong performance, Reliance Mutual Fund has emerged as the most successful fund house in the country for the quarter ended June 2009, according to Crisil FundServices.
Crisil FundServices, in its Composite Performance Ranking (Crisil-CPR) for the quarter ended June, awarded the Crisil CPR 1 rank to six mutual fund houses. Crisil CPR is the relative performance ranking of mutual fund schemes within the peer group.
At the end of July, Reliance MF was the largest fund house in the country with assets under management worth Rs 1,08,334 crore.
Mumbai, August 21: The Reserve Bank, which made third party ATM transactions free from April, has said not more than Rs 10,000 can be withdrawn each time they are used and limited the number of such transactions to five a month.
The apex bank has sent a communication in this regard to Indian Banks’ Association (IBA) and this is expected to be implemented shortly, IBA Chairman K Ramakrishnan told PTI.
Mumbai, August 21: A day after the NACIL management announced a 50 per cent cut in productivity-linked incentive (PLI), a section of its technical staff today said the move was not acceptable to them.
“We have told the management that we will not accept any cut unless revised PLI of certain categories is brought back to the pre-2007 level,” Indian Airlines’ Technicians Association President M S Kulkarni told PTI here.
The PLI of some categories of both employees and officers have already been revised over a period of time, Kulkarni said without giving specifics.
Mumbai, August 21: The Reserve Bank, which made third party ATM transactions free from April, has said not more than Rs 10,000 can be withdrawn each time they are used and limited the number of such transactions to five a month.
The apex bank has sent a communication in this regard to Indian Banks’ Association (IBA) and this is expected to be implemented shortly, IBA Chairman K Ramakrishnan told PTI.
Kochi, August 21: The Institute of Company Secretaries of India (ICSI) has been at the forefront in the development of corporate professionals well-versed in the management of the company, Kerala Law Minister M Vijayakumar said today.
Inaugurating the Kerala State Conference of Company Secretaries, here, Vijayakumar said like the engineers, doctors and scientists and other professionals, Company Secretaries too will have to face the global competition and take it as a challenge.
Mumbai, August 21: Indian equities markets made a poor start Friday with a key index dipping 126 points within five minutes of the opening bell.
The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 14,951.49 points, as against Thursday’s close at 15,012.32 points. It slipped to 14,886.31 points, 126.01 or 0.84 percent down, within five minutes of trade.
The S&P CNX Nifty of the National Stock Exchange (NSE) too was trading in the negative terrain at 4,410.25 points, a loss of 0.97 percent.
Mumbai, August 21: Indian equities markets made a poor start today with a key index dipping 126 points within five minutes of the opening bell.
The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 14,951.49 points, as against Thursday’s close at 15,012.32 points. It slipped to 14,886.31 points, 126.01 or 0.84 percent down, within five minutes of trade.
The S&P CNX Nifty of the National Stock Exchange (NSE) too was trading in the negative terrain at 4,410.25 points, a loss of 0.97 percent.
Mumbai, August 21: Interest rates are likely to remain stable going forward and inflation numbers would return into the positive zone, a top financial sector expert said.
“There is plenty of liquidity in the system. I don’t think you are going to see interest rates going hay wire,” HDFC Vice Chairman and Managing Director, Keki Mistry, told reporters here.
Interest rates could rise but not in the near-term, Mistry said.
“A marginal increase in interest rates over a period of time, may be in next 6-10 months, is possible but it is not going to be huge,” he said.
Mexico City, August 21: Mexico’s economy had its worst performance on record in the second quarter, hard hit by falling exports and the swine flu outbreak, according to a official statistics.
Gross Domestic Product (GDP) shrunk 10.3 percent between April and June, compared with the same period in 2008, INEGI national statistics institute said in a statement.
Mexico appeared to be heading for its worst year since the so-called 1994 “Tequila Crisis,” when a sharp devaluation of the peso led to a seven percent year-on-year fall in GDP.
Detroit, August 21: General Motors assembles its board of directors Friday to discuss the sale of its ailing Opel unit amid pressure from Germany and fears of job losses.
GM emerged from bankrutpcy in July after wiping out 47 billion dollars in debt and is now majority-owned by the US government.
The 100-year-old company, once the world’s largest automaker, has felt heat from Germany to choose a takeover bid from Magna International, a Canadian auto parts manufacturer, backed by state-owned Russian bank Sberbank.
New Delhi, August 20: In the midst of controversy over gas pricing, the government on Thursday said that it would strive for identical stand on litigation between power PSU NTPC and Mukesh Ambani-led RIL, and that between the group firms of two Ambani brothers.
“We will try to see that the government is one on NTPC-RIL and RIL-RNRL (group firms of Mukesh and younger sibling Anil) issues,” Law Minister Veerappa Moily told reporters emerging from the meeting of group on ministers on the gas issue.
Nanded, August 20: Union government has sanctioned Rs 56. 30 crore for highway development in the district, official sources said today.
The highways to undergo repairs include Bhokar, Mudkhed, Ardapur and Hadgaon tehsils.
Around 13 highways will be developed in this fund, they said.
Chief minister Ashok Chauhan had a discussion with the Union Minister for Road Transport and Highway Development, Kamalnath and forwarded the proposal, they said.
—Agencies
Chennai, August 20: Financial Technology company Polaris Software today announced that HDFC Bank has implemented Polariss “Enterprise Business Rule Engine” for its Retail Asset Lending Business comprising auto and personal loans.
This deployment would enable HDFC Bank to target customers better and manage credit risks effectively, a release said here today.
Polaris’s Intellect Business Rule Engine was a powerful credit decision system that enabled customers to profile and segment for loan products and aids cross-selling and up-selling of related asset products, it said.
New Delhi, August 20: Government tonight said it would issue a statement tomorrow rebutting claims made by Anil Ambani Group in an advertisement campaign debunking Petroleum Ministry on the gas dispute between the Ambani brothers.
While agreeing to an identical stand by the Centre on the twin dispute between power PSU NTPC and Mukesh Ambani-led RIL and that involving the group firms of two Ambani brothers, a ministerial group is believed to have taken a serious exception to the campaign launched by Anil Ambani group.