December, 2011

Homes for senior citizens and children

Two special integrated homes to house destitute senior citizens and orphan children will be established in each district in Tamil Nadu. This integrated complex will also differently abled persons. A total of 64 such centres will be established throughout the state. The complexes are expected to have schools, medical centres, liberaries and facilities for working out and games. The target is to complete the construction of all the 64 complexes by the end of the current financial year

Ratnagiri, Sindhudurg regions seriously imported by mining, Power projects

The Western Ghats, Ecology Expert Panel (WGEEP) has called for a “careful cumulative impact analysis of various development activities” in the plains and coastal regions of Ratnagiri and Sindhudurg districts of Maharashtra. It has observed that the “entire region has been seriously impacted, both environmentally and socially, by a number of mining, power projects, and polluting industries”. Incidentally, the Ministry had asked the panel to suggest an appropriate course of further development of mining, power production and polluting industries in the two districts.

Lyka signs pact with Turkish firm

Drug firm Lyka Labs has entered into a technology transfer pact with a Turkish pharma firm for adopting a manufacturing process that enables longer storage of medicines, entailing a cost of $2,50,000 and royalty payments for five years. The company has recently entered into a technology transfer agreement with a pharma company based in Republic of Turkey for a consideration of $2,50,000 and Royalty for five years”, Lyka Labs said in a filing to Bombay Stock Exchange.

JNPT gets ISO, OHSAS certifications

Jawaharlal Nehru Port Trust (JNPT) was awarded ISO 14001 and OHSAS18001 centrification respectively by the Indian Register for Quality Systems (IRQS), conforming its adherance to globally recognised management systems in environmental  responsibility and occupational health and safety. ‘With the addition of these certifications, JNPT has achieved the distinction of becoming the first major port to achieve the three certifications from the  international organisation for standardisation (ISO) and an occupational health and safety management system certification in keeping with its status of a world-class port”, union minister for skipping G.K. Vasan said.

Hindujas to buy majority stake in Optare

Conglomerate Hindujas are likely to take  a majority stake in ailing British bus makes optare, says a media report. “…. it emerged that the AIM-listed British bus maker is to fall under the control of the billionaire Hinduja brothers”. The times  reported – A potential counter-bid for optare from Alexander Dennies evaporated after the litters backers, led by Sir Brian Souter, dropped out, the daily pointed out. Opatre is a specialist maker of easy access single deck buses and has been in a financial trouble for some months as “plunging sales and deepening losses took their toll”, the daily said.

Iron ore exports down 28%

Iron ore exports dipped by over 28 percent to 40 million tonnes in April-November this fiscal following ban on shipments, of the key steel making raw material from Karnataka and subdued output in Goa. Iron ore exports were over 55.5 million tonnes in the year-ago period, according to the data released by industry association Federation of Indian Mineral Industries. India, the third largest global exporter of iron ore, had exported 97.64 million tonnes of iron ore in the last fiscal, down from 117.3 million tonnes in 2009-10.

Foreign banks join NRE deposit rate hike race

City bank became the first foreign lender to hike interest rates on NRE deposits in the make of the Reserve Bank of India deregulating the interest rate offered on deposits by non-resident early this month. City’s rates vary between 5 per cent and 8.75 per cent across maturities, and are lower than the aggressive strategies adopted by domestic lenders, who are offering as high as 10 per cent  annually. A deposit of over 30 lakh but under  50 lakh will earn an interest of 8.75 per cent for a 356-400 days bucket and 8.50 per cent for 401-1,095 days.

Romney on top as caucus season kicks off

As the season of caucuses and primaries for selecting the Republican presidential nominee, kicks into fourth gear in Iowa, Mitt Romney, former Governor of Massachusetts, has garnered a firm but narrow lead over his rivols in an electric and according to some, weak field of contenders. Through president Barack Obama still enjoys a comfortable lead over Mr. Romney, with a Gallup poll in December placing the former’s approval rating at 47 per cent, Mr. Romney’s 27 per cent still sees him breaking away from his principal challenger of recent weeks, former House Speaker Newt Gingrich.

Nuclear submarine damaged but reactors safe-Russia

A Russian nuclear submarine get badly damaged in a shipyard fire, but its two reactors are safe and there has been no radiation leak, said the military. The fire broke out during welding repairs on the Yekaterinburg submarine in a day dock at the Roslyakovo shipyard of the Russian Northern Fleet in Murmausk Region. From burning wooden scaf-folding the blaze spread to the rubberised coating in the nose section.

Pakistan court orders probe into memo scandal

In a major setback to Pakistan’s embattled govt. the Supreme Court ordered a time bound probe into the memo scandal, a decision that could add more pressure on President Asif Ali Zardari and Premier Yousuf Raza Gilani. “The court has established a commission for the investigation into the memo case. The Chief justice of the Baluchistan High Court will lead this commission”, Attorney General Moulvi Anwar-ul-Haq told reporters outside the Supreme Court building. The scandel had exposed the deep fissures between the Pakistani civilian govt. and the powerful Army.