PUNJAB COLLEGE OF TECHNICAL EDUCATION
( 3Oct-10 Oct2010)
EUphoric China all for steady € ,
eyes Greek bondsCHINA supports a stable euro and won’t reduce its holdings of European
bonds, underlining the strengthening ties with the EU.
Mr Wen said he hopes to improve the domestic investment climate in China
and that EU eases restrictions on high-tech exports and rejects protectionism.
Greece received a € 110 billion ($151 billion) bailout from the EU and IMF in
May to avoid default. The country plans to issue new bonds in 2011 after
implementing austerity measures to reduce the EU’s second biggest budget
Mr Wen said he believes Greece is emerging from the crisis, with markets
stabilising and investor confidence returning.
This Diwali, carmakers
to skip big discounts
CARMAKERS have cut festival discounts to the lowest levels in at least three
years this season.
Maruti Suzuki, Hyundai Motor India and Tata Motors have all drastically cut
their discounts to push sales in the third quarter of the financial year.
Several cars including the Maruti Alto, Wagon R, Hyundai Santro, Tata Indica,
Fiat Palio and Ford Fiesta were discounted up to 15-20% of their price during
the festive season until last year.
Car sales have increased more than 30% in the first six months this fiscal year,
changing the market condition completely.
NMDC to cut iron ore prices by
This is the
first time that
prices of iron
ore, valid for
year, will be
It has been
every year to
The fall in
ore prices is
mainly led by
is one of the
buyers of ore
Re rise has pepper exporters
EXPORTERS looking to encash a decline in domestic
pepper prices in the past 2-3 weeks are in for
disappointment due to the strengthening of the rupee.
The rupee’s appreciation against the dollar has taken
away the competitive edge.
Black pepper exports have slowed down to less than
1,000 tonne per month by August.
“Rains and floods has affected the domestic demand,”
said Mr Kishor Shamji of Kishor Spices. He said truck
movement has slowed down following the floods.
MS to launch Windows Phone 7
Microsoft is set to launch its first line of Windows
Phone 7 products next week and announce
which carriers and manufacturers will be making
and selling handsets based on its next mobile
It’s evident that AT&T is on board as one of the
carriers as Microsoft CEO Steve Ballmer and
AT&T CEO Ralph de la Vega will be jointly
hosting a press conference in New York Oct 11
to discuss the latest developments of Windows
Phone 7ased on its next mobile operating
Drug seizure issue settled , EU agrees to amend
INDIA has resolved the dispute with the European Union
over confiscation of Indian generic drugs by countries
such as the Netherlands and France.
In the last couple of years, Customs authorities in a
number of European countries seized about 17 drug
consignments shipped from Indian route to various
African and Latin American countries.
The Indian industry welcomed the EU decision to amend
its customs rules, but said there is need to be cautious
because it could be a strategy by the EU as its
intellectual property interests are now covered by the
anti-counterfeit trade agreement (ACTA) that it is about
to implement with 10 other countries.
NTPC to get Rs 600-crore
The Centre will compensate NTPC to the tune of Rs 600
crore for cancellation of its 600 megawatt hydropower
project at Loharinag-Pala in Uttarakhand.
A Group Of Ministers (GoM) headed by finance minister
Pranab Mukherjee, in August scrapped NTPC’s Loharinag
Pala hydel project on environmental and religious grounds.
Work on the Loharinag-Pala dam had commenced in 2005
but it was suspended last year by the Environment Ministry,
following concerns raised by environmentalists and locals.
India, Norway to extend DTAA
INDIA and Norway are all set
to expand the scope of their
double taxation avoidance
agreement (DTAA) to
facilitate greater information
exchange on potential cases
of tax evasion.
After changes to the Indo-
Swiss tax treaty this would
be the second such treaty
that would be reworked to
ensure smooth flow of
information on tax-related
This amended tax treaty will
allow the income tax
authorities to access
information on bank
accounts of Indians easily,
but only in specific cases.
India is pursuing the issue of
exchange of information with
other countries and would
also seek amendments in tax
treaties with them .