Weekly news 2


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Weekly news 2

  1. 1. Weekly newsby:Aditi<br />
  2. 2. <ul><li>The largest US conglomerate's 5.1 per cent decline in sales overshadowed better-than-expected profit and sent GE shares down 5 per cent
  3. 3. Revenue came to $35.89 billion, below the $37.54 billion analysts had expected
  4. 4. GE shares were down 83 cents at $16.33 on the New York Stock Exchange , while the Standard & Poor's capital goods industry index was off 1 per cent. </li></ul>GE posts sales slump, rattles recovery hopes<br />
  5. 5. <ul><li>Chinese are robbing American workers of jobs in the burgeoning field of clean energy such as solar and wind power.
  6. 6. The whole area of green technology as vitally important to America's future economic prospects.
  7. 7. The United Steelworkers union filed a 5,800-page petition la contending that the Chinese government was giving Chinese companies unfair advantages over U.S. firms through the use of government subsidies</li></ul>US launches China trade investigation<br />
  8. 8. <ul><li>JLR, a subsidiary of Indian giant Tata Motors, will invest billions of pounds in the plants
  9. 9. The new jobs will include 1,500 at the Halewood plant near Liverpool, northwest England
  10. 10. The agreement includes a five-percent pay rise for employees in November, with a further rise of at least three percent next November</li></ul>British carmaker Jaguar Land Rover strikes plants deal<br />
  11. 11. <ul><li>Indian IT companies have expressed reservations over recent US decisions on outsourcing and tightening of visa rules for Indians
  12. 12. The US has lately tightened visa rules for Indians and unveiled policies that discourage outsourcing, a sector in which India is a huge beneficiary</li></ul>PM to take up with Obama concerns over US visa rules<br />
  13. 13. <ul><li>Major proposal of establishing 17 lakh metric tons of new storage facility within a period of five years
  14. 14. At least 50 percent of the capacity we can be done by 2011 December, the rest by 2012. So, we will be able to improve our storage capacity with modern technology step by step</li></ul>India will add 17 lakh metric tons of food storage capacity within five years<br />
  15. 15. <ul><li>India has bilateral trade of USD 30 billion (2009- 10) with Africa, business with East African nations, mainly Kenya, Rwanda, Seychelles, Ethiopia and Uganda, amounts to just USD 4 billion
  16. 16. India has many commercial rivals in the region, particularly European countries like UK and China... The Chinese companies, which are government- owned, have far more capital for investment than the Indian private owned companies</li></ul>India competes with China, Europe for growing African market<br />
  17. 17. India, Israel to work towards signing FTA<br /><ul><li>Indo-Israel trade has grown from USD 200 million in 1992, when diplomatic relations were established between the two nations, with projections of USD 5 billion this year.
  18. 18. India has jumped from the eighth position to second as the favoured destination for Israeli exports
  19. 19. Israeli exports to India in the first half of this year were worth USD 990 million, an increase of 102 per cent compared to last year. </li>