Stocks rise as US data stokes hopes
Global equities rose on Thursday in light trading ahead of the Easter holiday weekend as investors sought further signs of optimism in the
financial crisis that has hit economies from Australia to Ireland. Japan's larger-than-expected $154 billion plan to jump-start its slowing economy underpinned appetite for equities while better-than-expected figures from the US on its trade deficit and new claims from jobless US workers provided a midday boost.
Thursday, April 9, 2009
Monday, April 6, 2009
Thursday, January 8, 2009
Sathyam Effect
The Bombay Stock Exchange sensitive index (Sensex) suffered most in the new year on Wednesday by losing 749 points on panic selling by funds after Satyam Computer said its profit had been inflated for years and rising concerns of dim third-quarter earnings of blue-chip companies.
The Sensex, which had gained over 688 points in the last four sessions of 2009, tumbled below the crucial 10000- level, losing 749.05 points to close at 9586.88 against 10335.93 on Tuesday. It touched a low of 9510.15 and a high of 10469.72, showing a wide fluctuation of nearly 960 points.
Satyam Computer shares crashed by Rs. 139.15 or 77.69 per cent to close at Rs. 39.95, after the Chairman announced that the company had falsified accounts and assets for several years.
The Sensex recorded the biggest single-day loss in the past two months, after Satyam Computer Services, the country’s fourth-largest software developer, plunged around 80 per cent, the highest since getting listed in 1992.
The Sensex, which had gained over 688 points in the last four sessions of 2009, tumbled below the crucial 10000- level, losing 749.05 points to close at 9586.88 against 10335.93 on Tuesday. It touched a low of 9510.15 and a high of 10469.72, showing a wide fluctuation of nearly 960 points.
Satyam Computer shares crashed by Rs. 139.15 or 77.69 per cent to close at Rs. 39.95, after the Chairman announced that the company had falsified accounts and assets for several years.
The Sensex recorded the biggest single-day loss in the past two months, after Satyam Computer Services, the country’s fourth-largest software developer, plunged around 80 per cent, the highest since getting listed in 1992.
Thursday, December 4, 2008
INTERNATIONAL SEMINAR
Education seminar begins today
Chief minister V.S. Achuthanandan will inaugurate a three-day international seminar on ‘Democratic and Secular Education – Kerala Experience’ being organised by the State government on the Kariavattom campus of the University of Kerala on Thursday.
As many as 2,000 delegates are participating in the seminar in which 150 scholars, including 25 from abroad, will present papers in various thematic sessions. Social activist Swami Agnivesh will deliver a special address at the inaugural session which will be held at a specially erected ‘pandal’ in front of the Academic Staff College, Kariavattom.
After the inaugural ceremony — in which Leader of the Opposition Oommen Chandy and Education Minister M.A. Baby, among others will participate — there will be a thematic session on ‘State and Education.’
Following this there will be 17 parallel sessions at the seminar on various topics, including public-private partnership in education, education, culture and textbooks, democracy, decentralised planning and education, education and empowerment of marginalised and minorities, internationalisation of education and national development, education, empowerment and children and media and education in a democratic and secular society.
Chief minister V.S. Achuthanandan will inaugurate a three-day international seminar on ‘Democratic and Secular Education – Kerala Experience’ being organised by the State government on the Kariavattom campus of the University of Kerala on Thursday.
As many as 2,000 delegates are participating in the seminar in which 150 scholars, including 25 from abroad, will present papers in various thematic sessions. Social activist Swami Agnivesh will deliver a special address at the inaugural session which will be held at a specially erected ‘pandal’ in front of the Academic Staff College, Kariavattom.
After the inaugural ceremony — in which Leader of the Opposition Oommen Chandy and Education Minister M.A. Baby, among others will participate — there will be a thematic session on ‘State and Education.’
Following this there will be 17 parallel sessions at the seminar on various topics, including public-private partnership in education, education, culture and textbooks, democracy, decentralised planning and education, education and empowerment of marginalised and minorities, internationalisation of education and national development, education, empowerment and children and media and education in a democratic and secular society.
MALABAR FETE
Malabar Fete begins tomorrow
The Kozhikode Corporation will organise the 39th edition of Malabar Fest at Swapna Nagari grounds here from Friday.
The festival would feature a variety of programmes . Shri.Sukumar Azhikode will inaugurate the exhibition. Shri.M.P. Veerendrakumar, MP, will open the government pavilions. P. Sathidevi, MP, is scheduled to open the sale of tickets and actor Captain Raju, the cultural events.
The exhibition is being organised with the cooperation of several State governments departments, the Centre and private companies. There will be stalls set up by the Union Ministries of Defence, Railways, Agriculture and Science and Technology.
Stalls will display items ranging from handlooms to electronics and crockery items.
There will be a pavilion for building materials be set up with the help of the Calicut chapter of the Kerala Builders’ Forum, various property developers, prominent banks, steel manufactures, paint companies and other companies catering to the industry.
Three air-conditioned pavilions of 5,000 square feet each would be set up for displaying toys; household items and cosmetics.
The Kozhikode Corporation will organise the 39th edition of Malabar Fest at Swapna Nagari grounds here from Friday.
The festival would feature a variety of programmes . Shri.Sukumar Azhikode will inaugurate the exhibition. Shri.M.P. Veerendrakumar, MP, will open the government pavilions. P. Sathidevi, MP, is scheduled to open the sale of tickets and actor Captain Raju, the cultural events.
The exhibition is being organised with the cooperation of several State governments departments, the Centre and private companies. There will be stalls set up by the Union Ministries of Defence, Railways, Agriculture and Science and Technology.
Stalls will display items ranging from handlooms to electronics and crockery items.
There will be a pavilion for building materials be set up with the help of the Calicut chapter of the Kerala Builders’ Forum, various property developers, prominent banks, steel manufactures, paint companies and other companies catering to the industry.
Three air-conditioned pavilions of 5,000 square feet each would be set up for displaying toys; household items and cosmetics.
Monday, November 24, 2008
PetroleumNon-domestic LPG may cost less
Prices may drop by Rs 350 a cylinder.
Both the players and the customers of non-domestic liquefied petroleum gas (LPG) have something to look forward to next month. Public and private players of the product are betting on a significant drop in prices to revive their fortunes, as it would push demand.
In keeping with the prices in the international market, price of LPG sold for non-domestic purpose is expected to dip in December. The international market has seen the biggest drop in LPG pricing by $320 a tonne from $810 a tonne in September-October.
Industry sources told Business Line that the The price of commercial LPG, which is sold in a 19-kg cylinder at over Rs 1,000 a cylinder, is expected to come down by Rs 350. The dip in commercial LPG prices would also mean that the diversion of domestic LPG for commercial use will be reduced to some extent, as the price gap between the two categories would narrow.Auto gas sector to gain
Due to high prices, the growth in auto gas sector was almost nil in the first six months of the current fiscal. However, the coming six months should be good, industry sources said. The auto gas sector had seen a growth of nearly 40 per cent in last fiscal. However, a robust growth can be expected only next fiscal, industry sources added. Commercial LPG has seen a growth of about seven-eight per cent.
The domestic prices of commercial LPG are reviewed on a monthly basis. In November, the prices increased by a little over 1 per cent, as international prices had seen an upward movement in October and the rupee had depreciated by almost 20 per cent.
While the price of commercial LPG was increased to Rs 1,108.50 a cylinder (Rs 1,095.24 a cylinder in October), that of auto LPG was brought down by 5.34 per cent. Auto LPG prices were revised to Rs 34.38 a litre on November 1 (Rs 36.32). In case of auto LPG, the public sector oil marketing companies are under pressure to keep it at a price lower than the price of petrol in order to make it attractive for the consumers.
“There is a time lag of four to six weeks between the international and domestic LPG prices. The domestic price depends on the Saudi Arabian price and currency value during the month under review,” an official explained. In other words, the domestic pricing is based on the formula of M-1 (price of the previous month). Hence, the December price would depend on the international price of November.
The last one week has seen international LPG prices declining after being stable for sometime, even when there was a sharp slide in crude oil and other petroleum products prices.
LPG for non-domestic purpose is meant for commercial markets such as hotels and for auto LPG
Prices may drop by Rs 350 a cylinder.
Both the players and the customers of non-domestic liquefied petroleum gas (LPG) have something to look forward to next month. Public and private players of the product are betting on a significant drop in prices to revive their fortunes, as it would push demand.
In keeping with the prices in the international market, price of LPG sold for non-domestic purpose is expected to dip in December. The international market has seen the biggest drop in LPG pricing by $320 a tonne from $810 a tonne in September-October.
Industry sources told Business Line that the The price of commercial LPG, which is sold in a 19-kg cylinder at over Rs 1,000 a cylinder, is expected to come down by Rs 350. The dip in commercial LPG prices would also mean that the diversion of domestic LPG for commercial use will be reduced to some extent, as the price gap between the two categories would narrow.Auto gas sector to gain
Due to high prices, the growth in auto gas sector was almost nil in the first six months of the current fiscal. However, the coming six months should be good, industry sources said. The auto gas sector had seen a growth of nearly 40 per cent in last fiscal. However, a robust growth can be expected only next fiscal, industry sources added. Commercial LPG has seen a growth of about seven-eight per cent.
The domestic prices of commercial LPG are reviewed on a monthly basis. In November, the prices increased by a little over 1 per cent, as international prices had seen an upward movement in October and the rupee had depreciated by almost 20 per cent.
While the price of commercial LPG was increased to Rs 1,108.50 a cylinder (Rs 1,095.24 a cylinder in October), that of auto LPG was brought down by 5.34 per cent. Auto LPG prices were revised to Rs 34.38 a litre on November 1 (Rs 36.32). In case of auto LPG, the public sector oil marketing companies are under pressure to keep it at a price lower than the price of petrol in order to make it attractive for the consumers.
“There is a time lag of four to six weeks between the international and domestic LPG prices. The domestic price depends on the Saudi Arabian price and currency value during the month under review,” an official explained. In other words, the domestic pricing is based on the formula of M-1 (price of the previous month). Hence, the December price would depend on the international price of November.
The last one week has seen international LPG prices declining after being stable for sometime, even when there was a sharp slide in crude oil and other petroleum products prices.
LPG for non-domestic purpose is meant for commercial markets such as hotels and for auto LPG
Friday, September 5, 2008
Industries Minister Elamaram Karim has said that a master plan will be prepared for the industrial development of areas near the proposed Kannur airport as Kerala Industrial Infrastructure Development Corporation (Kinfra) has accelerated the process of acquiring land for the airport near Mattannur here.
The Minister told reporters here on Thursday that the government’s plan was to ensure parallel development of industries in areas closer to the proposed airport which could attract investors and entrepreneurs.
A green field airport such as the one proposed in Kannur might not be viable initially unless there was increased industrial and economic activities that would attract more air passengers, he said adding that the process of acquiring 200 acres of land near the proposed airport was under way.
The Minister said that Kinfra would complete the acquisition of land for the airport by January next year. A proposal for appointing a consultant for preparing the master plan was under consideration, he said.Freight station
Listing various developmental projects in the pipeline in the district, Mr. Kareem said that the container freight station sanctioned here by the Central government would be a major push for the region’s development. Its foundation stone would be laid this month, he said. The process of allotment of land at the Textile Park at Nadukani here to entrepreneurs would begin by October, he announced. NIFT campus
The work for developing the campus of the National Institute of Fashion Technology Centre here would start this year as the government had already made budgetary allocation of Rs. 20 crore. The construction would be completed in two year, he added.
Mr. Karim said that the construction of a road to Valiyavelicham near Koothuparamba that was nearing completion would attract more entrepreneurs at the Kerala Industrial Development Corporation’s industrial park there. The government was also considering a proposal for developing an industrial park in Taliparamba and Payyannur areas, he said
The Minister told reporters here on Thursday that the government’s plan was to ensure parallel development of industries in areas closer to the proposed airport which could attract investors and entrepreneurs.
A green field airport such as the one proposed in Kannur might not be viable initially unless there was increased industrial and economic activities that would attract more air passengers, he said adding that the process of acquiring 200 acres of land near the proposed airport was under way.
The Minister said that Kinfra would complete the acquisition of land for the airport by January next year. A proposal for appointing a consultant for preparing the master plan was under consideration, he said.Freight station
Listing various developmental projects in the pipeline in the district, Mr. Kareem said that the container freight station sanctioned here by the Central government would be a major push for the region’s development. Its foundation stone would be laid this month, he said. The process of allotment of land at the Textile Park at Nadukani here to entrepreneurs would begin by October, he announced. NIFT campus
The work for developing the campus of the National Institute of Fashion Technology Centre here would start this year as the government had already made budgetary allocation of Rs. 20 crore. The construction would be completed in two year, he added.
Mr. Karim said that the construction of a road to Valiyavelicham near Koothuparamba that was nearing completion would attract more entrepreneurs at the Kerala Industrial Development Corporation’s industrial park there. The government was also considering a proposal for developing an industrial park in Taliparamba and Payyannur areas, he said
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