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China shuts down 1,355 coal mines<br />China has shut down 1,355 coal mines with total production capacity of 125.19 milli...
After Mahindra's $10 mn, Tata donates $50 mn to Harvard<br />Tata Group has given America's prestigious Harvard Business S...
China says Yuan must not be 'scapegoat' for US economic woes<br />The People's Bank of China set the Yuan central parity r...
Ahmedabad, B'lore, Chennai among world's fastest-growing cities<br />Three Indian cities - Ahmedabad, Bangalore and Chenna...
SKS Microfinance shares dip about 9% after AP govt ordinance<br />Shares of SKS Microfinance , the only listed microfinanc...
Suzuki may fix 280,000 Swift, other models<br />Suzuki Motor recalls a total of 90,617 units of its Swift and three other ...
Infosys declares 200 per cent interim dividend<br />Infosys Technologies Ltd Friday declared 200 per cent interim dividend...
Honda recalls Brazil compact cars for pedal woes<br />Honda is recalling nearly 127,000 City and Fit compact cars in Brazi...
Yahoo buyout can't solve its midlife crisis<br />Some private equity firms have explored a Yahoo buyout, combining the com...
Chile celebrates a ‘miracle’ as miners face celebrity status<br />Chile’s 33 newly rescued miners recovered from their ord...
Gush of dollars set to hit India as emerging markets close gates<br />India is probably the only major developing nation i...
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weekly news 11-15 oct

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weekly news 11-15 oct

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  2. 2. China shuts down 1,355 coal mines<br />China has shut down 1,355 coal mines with total production capacity of 125.19 million tonnes until on September this year as part of the country's efforts towards restructuring the mining industry. <br />The National Energy Administration (NEA) said that it has surpassed its annual target of eliminating outdated mines with 121.67 million tonnes of production capacity this year.<br />According to NEA, 1,539 small and dangerous coal mines had to be closed this year to prevent deadly accidents and reduce carbon dioxide emissions. <br />
  3. 3. After Mahindra's $10 mn, Tata donates $50 mn to Harvard<br />Tata Group has given America's prestigious Harvard Business School a $50 million donation, the largest gift the school has received from an international donor in its 102-year history.<br />Earlier this month Anand Mahindra, head of Mahindra Group, gave $10 million to Harvard where he earned his undergraduate and master's degrees. <br />Ratan Tata, chairman of Tata Sons Ltd since 1991, attended the school's advanced management programme - one of three leadership programmes offered by the school's executive education programme-in 1975 and received its highest honour, the Alumni Achievement Award. <br />
  4. 4. China says Yuan must not be 'scapegoat' for US economic woes<br />The People's Bank of China set the Yuan central parity rate -- the middle of the currency's allowed trading band -- at 6.6497 to the dollar. <br />Beijing has previously allowed the Yuan to strengthen slightly ahead of events at which it expects to come under pressure over the value of its currency, which critics say gives China an unfair trade advantage. <br />US impatience with the Yuan was part of an American strategy aimed at taking "discriminatory trade measures against Chinese products." <br />"Such actions will severely violate WTO rules and will be unreasonable and wrong," <br />
  5. 5. Ahmedabad, B'lore, Chennai among world's fastest-growing cities<br />Three Indian cities - Ahmedabad, Bangalore and Chennai - have been listed among the world's fastest-growing cities by Forbes magazine . <br />It also called Gujarat the "most market-oriented and business-friendly" among Indian states. <br />Forbes describes Ahmedabad as "the largest metropolitan region in Gujarat, perhaps the most market-oriented and business-friendly of Indian states." <br />
  6. 6. SKS Microfinance shares dip about 9% after AP govt ordinance<br />Shares of SKS Microfinance , the only listed microfinance entity in the country, on Friday plunged by about 9 per cent on concerns that microfinance sector may come under tight government regulations.<br /> Soon after opening, the scrip came under selling pressure on the Bombay Stock Exchange and hit a low of Rs 1,107, down by 8.70 per cent. <br />In the afternoon trade, SKS was quoting at Rs 1,137.95, lower by 6.16 per cent on the BSE. <br />
  7. 7. Suzuki may fix 280,000 Swift, other models<br />Suzuki Motor recalls a total of 90,617 units of its Swift and three other car models in Japan to fix a possible door mirror defect<br /> About 192,000 cars sold abroad also possibly subject to repairs.<br />The recall, which starts on Saturday, will also affect 19,426 vehicles sold in Japan that Suzuki supplies to Nissan Motor Co. <br />Suzuki shares fell 1.8 percent to 1,967 yen on Friday, compared with a 1.1 percent fall in Tokyo's transport equipment sub index. <br />
  8. 8. Infosys declares 200 per cent interim dividend<br />Infosys Technologies Ltd Friday declared 200 per cent interim dividend of Rs 10 per share and a whopping 300 per cent special dividend of Rs 30 per share of Rs 5 at par value for its 30th year. <br />In a regulatory filing, the IT bellwether said the record date for the payment of dividend is Oct 22.<br /> Under the International Financial Regulatory System (IFRS), revenue is expected to be $6 billion, an increase of 25 per cent YoY and five per cent higher than its July projection. <br />
  9. 9. Honda recalls Brazil compact cars for pedal woes<br />Honda is recalling nearly 127,000 City and Fit compact cars in Brazil over a gas pedal defect that could cause unwanted acceleration.<br />The problem cars were made in Brazil from May 2008 and October 2010 and sold only in Brazil. A total of 126,774 are being recalled. <br />Problem is that dust particles get inside the accelerator pedal's sensor, causing the pedal in some cases to get stuck and the car is unable to stop.<br />
  10. 10. Yahoo buyout can't solve its midlife crisis<br />Some private equity firms have explored a Yahoo buyout, combining the company with AOL Inc or with News Corp assets. <br />This would mark yet another change for a company that helped define the Internet two decades ago, but has been unable to keep up. Instead, it has stagnated to the advantage of rivals Google, Facebook and Twitter .<br /> Since taking Yahoo in 2009, Bartz has focused on content by developing Web video offerings and buying companies like Associated Content, which employs freelancers to crank out short, inexpensive articles on myriad topics. <br />
  11. 11. Chile celebrates a ‘miracle’ as miners face celebrity status<br />Chile’s 33 newly rescued miners recovered from their ordeal on Thursday while also pondering the celebrity status they have gained following a more than two-month entrapment deep under a remote desert. <br />Most of the miners were found to be in decent health despite being stuck in a collapsed mine tunnel since August 5.<br /> It took less than 22 hours from the time the first miner was brought to the surface until the last one was pulled to freedom late on Wednesday.<br /> About 2-1/2 hours later, the last of six rescuers who had gone down the shaft to help the miners get out also emerged from the gold and copper mine.<br />
  12. 12. Gush of dollars set to hit India as emerging markets close gates<br />India is probably the only major developing nation in the world that is still holding back from restrictions on fund flows, despite growing concerns that they are hurting exports and boosting imports. <br />The current account deficit is headed to 3% of the gross domestic product, the first time in nearly two decades. <br />The rupee rose 0.9% to 44.12 per dollar to a two-year high as global investors poured in a record $22 billion into Indian stocks, and are poised to bring in more to buy Coal India shares in the nation’s biggest initial public offering (IPO) that opens next week. <br />

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