| POLICY WATCH |
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New risk weight to ease liquidity for infra NBFCs
| The Reserve Bank of India (RBI) has said in its second-quarter review of monetary policy that the credit rating assigned to non-banking finance companies (NBFCs) involved in infrastructure will now be linked to the risk weight of a bank's exposure to infrastructure. |
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Credit default swaps introduced
| The Reserve Bank of India (RBI) has decided to introduce credit default swaps (CDSs), allowing banks to hedge their loan portfolio and minimise the credit default risk. |
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Nod for national policy on disaster management
| The National Policy on Disaster Management, which will provide a framework and roadmap for handling disasters in a holistic manner, has been approved by the Union Cabinet. |
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| PEOPLE |
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Indian-American brothers awarded by US Congress
| Two Indian-American brothers have earned the recognition of the US Congress for their company, IMC Inc, having received the Northern Virginia Community Foundation's community leader award for 2009. |
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Indian elected President of American College of Chest Physicians
| Hyderabad-born Dr Kalpalatha K Guntupalli has been elected President of the American College of Chest Physicians (ACCP). Guntupalli is currently a tenured full professor at the Baylor College of Medicine (BCM) in Houston. |
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Indian-American appointed to key post in US administration
| Suresh Kumar, an Indian-American who worked as a news anchor in India from 1970 to 1985, has been appointed to a key US administration post by US President Mr Barack Obama. |
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| ECONOMY AND ENTERPRISE |
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EAC sees robust GDP growth on domestic industrial revival
| The Prime Minister's Economic Advisory Council (PMEAC) has projected a Gross Domestic Product (GDP) growth of 6.5 per cent for 2009-10. |
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India to grow at 6.5 per cent in 2010, says IMF
| India's growth is expected to accelerate to 6.5 per cent in 2010 from 5.33 per cent in 2009, on the back of strong domestic demand, according to the International Monetary Fund's (IMF) World Economic Outlook. |
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India highest in consumer confidence
| Consumer confidence is strongest in India and global consumer confidence is on the rebound, according to a quarterly survey conducted by The Nielsen Company between September 28 and October 16, 2009. |
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Egypt offers special zone to India Inc
| Egypt has invited India to build an 'India industrial zone' in the Suez development area for setting up joint ventures with Egyptian companies. |
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India is top offshore choice for European firms: Report
| India has emerged as the top offshore destination for European enterprises, according to a survey of 300 European enterprises by Forrester Research, which revealed that 60 per cent of firms intend to send their work to India. |
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Nigeria seeks Apollo's help to modernise healthcare system
| The Nigerian Government has sought the help of Apollo Hospitals in modernising its healthcare delivery system and has offered to co-invest with Apollo Hospitals in setting up hospitals. |
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Elgi Rubber to set up 100% subsidiary in Texas
| Elgi Rubber Company has formed a fully-owned subsidiary company in Texas, United States, under the name of Elgi Rubber Company LLC, and the company's board has approved an investment of up to US$ 5 million in the overseas venture. |
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Tata Tele to invest $1 billion more in GSM services
| Telecom services provider Tata Teleservices, is planning to invest an additional US$ 1 billion in its recently-launched GSM service Tata DoCoMo, with a view to enhancing its network in the telecom circles where it has already launched GSM services. |
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Datamatics Global acquires German IT firm
| Datamatics Global Technologies AG, a wholly-owned subsidiary of Datamatics Global Services Ltd, has acquired the information technology (IT) and IT-enabled services division of German IT consulting company, Devoteam Danet GmbH, for up to US$ 2 million. |
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SPECIAL - Small and Medium Enterprises |
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| Small and Medium Enterprises (SMEs) are projected to contribute up to 22 per cent to India's Gross Domestic Product (GDP) by 2012. Increasingly, the IT sector is beginning to recognise the potential of the SME segment in India. Computer manufacturer, Dell, has undertaken a targetted campaign that has helped increase its market share in the segment. Meanwhile, technology start-up, Starlite, has tied up with Spanish enterprise resource planning solution firm, Openbravo, to cater to the SME market in India. |
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"India is a very important market for Ford Motor company. We are here in a big way. We are doubling our plant capacity in Chennai."
Mark Bentley
Manager
Ford Global Licensing |
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| India's longest elevated corridor has been thrown open to the public; the 11.6 km long PV Narasimha Rao Expressway which has been implemented at a cost of Rs 600 crore (US$ 130.31 million), is a four-lane divided carriageway that will allow two-way traffic at speeds of up to 60 kmph. |
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India tops with US in solar power
| India has emerged as the world's number one in annual solar power generation, along with United States, according to McKinsey & Company, in its survey ended in May 2009. |
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Centre moots 'green bonus' to encourage reforestation
| The Centre is coming out with a new mechanism that aims at giving special 'green bonus' to States for maintaining ecology and forest covers, it has been announced by Minister of State for Environment and Forests Jairam Ramesh. |
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India, China sign 5-yr pact to tackle climate change
| India and China have signed a five-year agreement to jointly fight climate change and negotiate international climate deals. The two countries also set up a Joint Working Group (JWG) that will hold annual meetings to discuss respective domestic policies and measures and implementation of related cooperative projects. |
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