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Weekly news 5

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  • 1. Weekly News5: 20 Sept-26 Sept, 2010 Compiled by: Taranpreet Kaur Mba-2(A)
  • 2. Mahindra Satyam's delisting from NYSE unlikely to help
    • Mahindra Satyam, formerly Satyam Computer Services, will delist from the New York Stock Exchange, or NYSE, after realising that it cannot meet the October 15 deadline for preparing financial statements under US accounting standards.
    • The news triggered a massive 26% fall in its ADRs on Friday.
    • The domestic shares fell 6%.
  • 3. India bribed 72 nations to get Delhi CWG: Report
    • India bribed 72 Commonwealth countries $100,000 each to get the hosting rights for the scandal-hit 19th edition of the Games which will start in Delhi from October 3-14, a media report claimed.
    • The report also said that Australia received a kickback of $125,000 from India.
  • 4. Tata Motors to launch Aria within a month, may price it Rs 10 lakh
    • Tata Motors will launch Aria a cross-over between a multi-utility and sports utility vehicle within a month. Unveiled at the Auto Expo and billed as a four-wheeler built for Indians by Indian engineers.
    • Aria will compete with Toyota Innova and M&M's Xylo.
    • Sources say that the car is expected to be priced at about Rs 10 lakh .
  • 5. Security agencies give thumbs up to solutions offered by RIM
    • Security agencies have given a thumbs up to solutions offered by BlackBerry makers, Research In Motion, to track its messenger services , but is still sorting out some technical issues in gaining access to corporate e-mail .
    • However, the official indicated that opening up enterprise mail was proving tricky and would require more extensive discussions between technical experts from RIM and security agencies.
  • 6. Arvind Textile to set up facility in Bangladesh; invest $66 mn
    • Indian firm Arvind Mills will invest USD 66 million to set up a textile and garment manufacturing unit at the Comilla Export Processing Zone in Bangladesh.
    • The unit will create employment opportunity for 3,170 persons, including 120 foreign nationals.
    • An agreement to this effect was signed between the Bangladesh Export Processing Zones Authority and the Arvind Textile Mills Limited in BEPZA Complex in the Dhaka.
  • 7. Pranab launches pension scheme for unorganised sector
    • Union Finance Minister Pranab Mukherjee launched a new pension scheme for workers in the unorganised sector who do not have access to the social security net.
    • Under the scheme named 'Swabalamban', the subscribers would get Rs 1,000 from the government each year for a subscription amount of Rs 12,000 per year.
    • The particular scheme would remain valid for this financial year and for the next three consecutive fiscals.
  • 8.  

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