2. The government has excluded domestic helps -
- among the sections most vulnerable to sexual
harassment -- from the purview of the Bill that the
Union Cabinet cleared here on Thursday for
protection of women against sexual harassment at
workplace.
The Bill, which is likely to be tabled in the
winter session of Parliament, mandates that women
subjected to sexual advances -- verbal or physical --
are within their right to complain against her
colleague. A person found guilty of sexual harassment
is likely to face financial penalties besides loss of
employment and, in case of a graver offence -- a
police complaint.
3. In order to address complaints related to
sexual harassment, the Bill envisages formation of
committees in each organisation, which has more
than 10 workers or a local committee at the level of
district or sub-district if it is an organisation with less
than 10 people.
The penalty, if harassment is proved, will be
levied in view of the victim's mental suffering and
trauma, income and financial status, medical
expenses incurred and loss in career opportunity
because of the incident. For the first time, any
person giving a false complaint or false evidence will
be liable to be punished under service rules.
4. Royal Bank of Scotland expected market
conditions to remain challenging into the fourth
quarter, as charges on the value of its own debt hit
the third-quarter results of the part-nationalised
British bank. RBS reported on Friday a third-quarter
operating loss of 132 million pounds ($213 million),
compared with a second-quarter profit of 869
million.
Earnings were hit by a charge of 858 million
pounds in relation to movements in the fair value of
the group's own debt. The bank said excluding this, it
had an operating profit of 726 million pounds in the
third quarter, helped by a 21 percent drop in bad
debts compared to the second quarter.
5. Earlier this week, concerns over losses from
problem loans overshadowed rival part-
nationalised British bank Lloyds
RBS said the fourth quarter would remain
challenging for its GBM investment banking arm,
while the trends for its retail and commercial
banking division were in line with those of the
third quarter.
It added that it expected a UK bank levy to
cost it 225 million to 250 million pounds next
year, rising to 350 million to 400 million pounds
in 2012
6. China will maintain its exports of rare
earth minerals next year, Trade Minister Chen
Deming said on Friday, adding that trade in
rare earths should not be made into a
political issue.
"The rare earth issue should not be made
political. China will maintain its existing rare
earth exports next year," Chen, who was
accompanying President Hu Jintao on an
official visit, told reporters.
7. Italian industrial group Fiat SpA intends to
strengthen its home country roots and has no wish to
delay investments, its chief executive said on Friday.
CEO Sergio Marchionne has clashed with
trade unions on his efforts to boost productivity at
Fiat's Italian plants and the dispute has delayed its
Fabrica Italia (Factory Italy) investment plan to boost
production.
Fiat's investment plans for Italy envisage
spending 20 billion euros ($28.28 billion).
Fiat shares were up 1.6 per cent at 12.7
euros. The auto sector index is down 0.12 per cent.
