Other Briefings
India Successfully Decodes Human Genome
Dec. 10 – India has successfully decoded the human genome locally making it part of the only six countries in the world to do so. Other countries who have been able to accomplish the feat are the United States, United Kingdom, China, Canada and South Korea. India’s Council of Scientific and Industrial Research (CSIR) says […]
India to Drop Re1, Rs2 Notes from Circulation
Dec. 9 – India will soon drop Rs1 and Rs2 notes from circulation to be replaced with coins citing high printing costs and short lifespan of the latter. “The Reserve Bank has informed that in view of the short life span of the lower denominations notes of Re1, Rs2, and Rs5 and the high cost […]
Reliance Group Partners with U.S. Company for 3-D Movies
Dec. 9 – Major Indian conglomerate Reliance ADA Group will partner with a Los Angeles-based company to convert movies into 3-D in a US$40 million facility in Mumbai set to open in January. When it opens the facility will be the largest of its kind in the world also capable of post-production, visual effects and […]
India to Auction Off Radio, Internet Bandwidth Slots Next Year
Dec. 8 – The country’s Department of Telecommunications will hold an auction on January 14, 2010 to sell four slots of bandwidth for 3G phone services and three slots for broadband internet services. Bidding will start at INR35 billion or about US$758 million for a slot of 3G bandwidth and INR17.5 billion or US$378.8 million […]
Tata’s European Arm to Cut 1,700 Jobs
Dec. 7 – The European arm of India-based Tata Steel will in part shutdown its Teesside Cast Products (TCP) plant by the end of January leading to 1,700 job losses. Corus’ decision to slash jobs came after its international slab buyers canceled a 10-year contract to buy almost 80 percent of the plant’s production. Italian […]
Food Prices Increase by 17.5 Percent
Dec. 4 – This year’s poor monsoon has bumped average food prices in India by 17.5 percent according to government reports. A week ago the increase was pegged at 15.6 percent. This will leave the Reserve Bank of India no choice but to restrict money policy to curb inflation while also inevitably increasing interest rates. […]
World Bank to Lend US$1 Billion for Ganga River Clean Up
Dec. 3 – The World Bank has agreed to loan US$1 billion to India for the clean up of the Ganga river, one of the most polluted in the world. The Ganga or Ganges river is the one of the country’s major rivers; considered holy by Hindus. The US$1billion loan is part of the total […]
Government Clears 17 FDI Proposals
Dec. 2 – The government has approved 17 foreign direct investment proposals worth US$$984 million. Majority of this amount includes a huge investment by Russian government agency Sistema for a 20 percent stake in joint venture with service provider Shyam. The fund infusion will be used to further expand the reach of Sistema-Shyam’s MTS brand […]
