INFRASTRUCTURE
Reliance Infra gets shareholders nod for biz transfer
Anil Ambani Group firm Reliance Infrastructure on Tuesday said that its shareholders have approved the transfer of certain divisions of the company into group firms.
In a filing to the Bombay Stock Exchange, Reliance Infrastructure said its shareholders have approved the scheme of arrangement of demerger of six of its division from itself.
Under the scheme, the Dahanu Thermal Power Station (DTPS) division of the company would be transferred into Reliance Energy Generation and Goa and Samalkot power stations division would be transferred into Reliance Goa and Samalkot Power. more... (Economic Times)
RInfra arrangement for demerger
The shareholders of Reliance Infrastructure Ltd (RInfra) on Tuesday approved the Scheme of Arrangement (Scheme) for demerger of the six divisions of the company. The demerger was carried according to the Sections 391 to 394 of the Companies Act, 1956, the company said in a press release. Dahanu Thermal Power Station has been transferred to Reliance Energy Generation Ltd, Goa and Samalkot Power Stations to Reliance Goa and Samalkot Power Ltd. Power Transmission Division to Reliance Power Transmission Ltd, Power Distribution Division to Reliance Energy Ltd, Roads Division to Reliance InfraVentrues Ltd and Real Estate Division to Reliance Property Developers Ltd. All the resulting companies are wholly owned subsidiary companies of RInfra.
Appeared in Business Line, Financial Express & Mint
POWER
Government plans to add 5,653 mw in first 6 months
The government plans to commission 5,653 mw of additional power generation capacity in the first half of the current financial year, a 61% jump over the 3,500 mw added in the entire 2008-09, senior officials in the power ministry said. The new target is part of the 100-day agenda of the government where it plans to step up its monitoring mechanism to ensure that projects do not suffer from delays. At a meeting of officials from the power ministry and central power utilities on Tuesday, power minister Sushilkumar Shinde was told that several projects are closer to the commissioning date, making it possible to add over 5,600 mw of generation capacity by September-end. more...
Energy efficiency a top priority for India Inc
THE Energy Efficiency Indicator (EEI) survey for corporate India , released on Tuesday, reveals that 47% of the respondents are paying more attention to energy efficiency, compared to last year and 94% of the respondents feel that energy management is extremely important. An increase in capital investments for energy efficiency is needed, say 62%, while 72% of the respondents feel their organisations can achieve more energy efficiency from operating budgets. More than 92% of the respondents say energy efficiency is a priority in new construction as well as in renovation projects.
It is also interesting that17%are seeking green building certification for new construction projects, while none are seeking such certification in renovation projects.
Around14%are considering the use of solar energy, while22%seek solar thermal technology for new constructions. more...
ECONOMY
India can achieve 8-9 per cent economic growth: PM
Prime Minister Manmohan Singh on Tuesday said the country's economy is even now capable of growing by 8-9 per cent, the same rate as it did before the global financial meltdown set in. "Since our savings rate is as high as 35 per cent...if all work together, we can achieve a growth rate of 8 to 9 per cent, even if the world economy does not improve," he said while winding up the debate on Motion of Thanks to the President's address to joint sitting of Parliament. The global crisis, Singh said, had affected India's economic growth that slipped from 9 per cent to around 7 per cent in the previous fiscal. more...
Strengthen PDS for ‘aam aadmi’
The Sensex may be going up and dollar inflows may have revived; but that hardly cheers the common man who has voted the new government to power. The aam aadmi wants food at affordable prices. Food inflation is still too high to provide any real relief to consumers. Will New Delhi be able to contain food inflation, increase access to food and make it affordable? Importantly, will the forthcoming Budget, on which many have placed great hopes, focus on inflation control and food management? We have to wait and watch. In the last five years, growth in agricultural output has been modest, if anything. Annual average growth rate has been below three per cent. The farm sector continues to starve of investment, especially public investment. On the other hand, demand increases seem to rapidly outpace output increases, resulting in shortage and rising prices. Failure to check flow of speculative capital in sensitive and essential food products has also pushed market prices higher. more...
POLITICS
Politics influences DMK on disinvestment in central PSUs
Less than a month of UPA coming back to power at the Centre, Congress’ main ally, DMK has joined issues with its alliance partner on major policy issues. This stemmed from DMK Rajya Sabha MP Kanimozhi opposing the government’s disinvestment plans.
Bucking analyst predictions of anti-incumbency at the state as well as the centre, the DMK-Congress combine retained their places in the Lok Sabha this elections. But, the fairy tale started going sour with the Congress’ offer of Cabinet berths to DMK candidates not satisfying the regional party. more...
PM to talk to Australian leaders on security of students
With attacks against Indian students continuing in Australia, Prime Minister Manmohan Singh said he would engage the Australian leadership in a high-level dialogue to take ``stock of the situation and provide adequate security for Indian students.’’ Mr Singh said that he was ``appalled’’ by the crime and pointed out that some of the attacks were racially motivated. ``I have been appalled by the senseless violence and crime, some of it racially motivated against our students in Australia. I propose to engage the authorities in Australia in a high-level dialogue with a view to taking stock of the situation and to providing adequate security for Indian students,’’ he said replying to a debate on the President’s address. more...
TELECOM
RCom, Kribhco to form JV
Reliance Communications (RCom) has signed a joint venture agreement with Kribhco, a co-operative society, to form a new company Kribhco Reliance Kisan. Kribhco would hold 60 per cent stake in the joint venture firm, while the balance 40 per cent would be held by Reliance ADAG. However, the financial terms of the deal were not disclosed.
“The JV will market telecom products of RCom, both GSM and CDMA. Later, it will also distribute products and services of other business enterprises of Reliance ADAG, including Reliance Capital, Reliance Entertainment and BIG TV,” RCom President (Wireless) S P Shukla said. more...
Airtel named best service provider in Asia-Pacific
Bharti Airtel, one of India's leading telecom service providers, has been adjudged the best service provider in the Asia-Pacific region by telecom research and consultancy firm rost and Sullivan. The company has bagged top honours for overall service quality and has been adjudged the service provider of the year in the "Best of the Best" category, Airtel said in a statement Tuesday. "The awards recognise Bharti Airtel's commitment to technology and business innovation, and globally benchmarked quality of services," said Manoj Kohli, chief executive and joint managing director of Airtel. more...
INTERNATIONAL
India's defence pact with Ukraine annoys Russia
Russia, India’s traditional defence partner, appears to be irritated over India’s move to sign a defence pact with Ukraine. Both the countries recently exchanged a formal draft of the agreement, according to a defence ministry official. The matter was raised informally by Russia during a recent visit of an Indian delegation led by Defence Secretary Vijay Singh to Moscow. The defence agreement with Ukraine is at an advanced stage of negotiation.Ukraine is counted among the world’s top 10 defence equipment producers as it has inherited a defence industry producing tanks, planes, including the Antonov series of aircraft that are a large part of the IAF’s transport fleet, anti-aircraft and radar systems after the collapse of the Soviet Union. Additionally, it has the capacity to build aircraft carrier ships as the undivided Soviet Union’s aircraft manufacturing facilities were located in Kiev, currently the capital of Ukraine. more...
US bankruptcies soar 33% to 1.2 mn in a year
The number of bankruptcy filings in the US soared more than 33% for the year ended March 31, 2009, as the world's largest economy continued to reel under the worst financial turmoil since the 1930s. The bankruptcy filings count ballooned 33.3% to 1,202,503 for the 12-month period ending March 31, 2008. In the comparable period, the same stood at 9,01,927, the statistics from the Administrative Office of the US Courts showed. With the collapsed of then famed Lehman Brothers in September last year, the financial crisis turned for the worse rattling the American economy. more...
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THOUGHT FOR THE DAY
Try not to become a man of success but a man of value
HEALTH TIP
If you feel an asthma attack coming on and don't have your inhaler handy, try a couple cups of coffee, tea, hot chocolate, or chocolate bars. The caffeine will help open your airways.
TIP - to save energy
Don't keep your refrigerator or freezer too cold. Recommended temperatures are 37° to 40°F for the fresh food compartment of the refrigerator and 5°F for the freezer section. If you have a separate freezer for long-term storage, it should be kept at 0°F.
HUMOUR JUNCTION
The man who smiles when things go wrong has thought of someone to blame it on
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