| POLICY WATCH |
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Sebi nod to yen, euro & pound
| In a move that will increase volumes on the stock exchange, market regulator, Securities and Exchange Board of India (SEBI), has allowed stock exchanges to introduce currency futures in three more currencies—euro, yen and pound. |
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Global accounting respite for SMEs
| A government-constituted core panel on the International Financial Reporting Standards (IFRS) has decided to exempt small and medium enterprises (SMEs) from the first phase of convergence to IFRS, falling due in 2011. |
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Trai releases paper on foreign stake in broadcasting
| In response to the recent revision of guidelines by the Department of Industrial Policy and Promotion (DIPP) for calculating total foreign investment in Indian companies, the Telecom Regulatory Authority of India (TRAI) has released a consultation paper on foreign investment in the broadcasting sector. |
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| PEOPLE |
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Kapil Kapoor is global COO of Timex Group
| Timex Group USA has announced the elevation of Kapil Kapoor as the global chief operating officer (COO) from his current role as senior vice-president, Asia Pacific. |
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Rajiv Shah assumes role as USAID chief
| Thirty-nine-year-old Indian American Rajiv Shah has been sworn in as administrator of US Aid for International Development (USAID), by Hillary Clinton, US Secretary of State. |
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Lunar crater named after Shah Rukh Khan
| The New York-based International Lunar Geographic Society has declared that a lunar crater in the moon's Sea of Tranquillity has been named after the Indian film actor, Shah Rukh Khan. |
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| ECONOMY AND ENTERPRISE |
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Core sector output for December up 6%
| Led by an increase in the production of finished steel, cement and electricity, India's core sector grew 6 per cent in December 2009, compared with 5.3 per cent growth in the previous month. |
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India can become 3rd largest economy by 2012: PwC
| India could become the world's third largest economy by purchasing power parity (PPP), overtaking Japan in 2012, according to a report by global consultancy firm, PricewaterhouseCoopers (PwC). |
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Consumer electronics cos post double-digit growth in Jan-Nov '09
| The LCD television category grew 93 per cent during the January-November 2009 period, washing machine sales grew 14 per cent and refrigerators surged 16.4 per cent, according to data from market research agency ORG-GFK. |
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Truck sales zoom 201% in December, rentals at 2-year high
| Truck sales, a key indicator of goods movement, grew by 201.1 per cent in December 2009, compared to the corresponding period last year, indicating that the economy is on an uptick. |
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Tata acquires Mosaic from BT
| In a move aimed at strengthening their global media and entertainment portfolio, Tata Communications has announced an agreement to acquire Mosaic, the Web portal-based on-demand digital media management platform of the BT Group. |
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Infotech buys US engg services firm
| Infotech Enterprises, a Hyderabad-based provider of engineering design, geospatial information and information technology (IT) services, has acquired US-based Daxcon Engineering Inc. |
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Air traffic grows 8% in 2009
| On the back of strong economic recovery, domestic air traffic for the year 2009 rose to 44.51 million flyers—an increase of 7.9 per cent over the previous year's traffic of 41.2 million domestic fliers. |
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Biocon explores investment in Malaysia
| Biocon, the biotechnology company, has announced that it has inked a memorandum of understanding with Malaysia-based BiotechCorp, to explore the possibility of collaborating with and investing in Malaysia. |
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SPECIAL - Pharmaceuticals |
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Of the nine global generic drug manufacturers that have delivered high returns to their shareholders, seven are Indian, according to a recent study by The Boston Consulting Group (BCG).
Also, Suven Life Sciences, has announced that it has been granted two product patents in China and Russia for their new chemical entities (NCEs) for treatment of neurodegenerative diseases. |
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"Within Cisco, now we recognise that India is an innovation centre for what we call smart connect communities."
Wim Elfrink
Executive Vice-President
Cisco Services |
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| Chhatrapati Shivaji International Airport has posted the highest-ever monthly passenger traffic in its history in December 2009 when it handled 2.53 million passengers. |
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CERC gives push to green energy
| The Central Electricity Regulatory Commission (CERC) has announced renewable energy certificate (REC) norms in a bid to promote power generation from clean sources in the country. |
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Govt amends rules to tackle noise pollution
| The Ministry of Environment and Forests is setting up a network, the National Ambient Noise Monitoring Network, for national-level monitoring and reporting of noise pollution. |
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State to provide computers to all gram panchayats
| The Orissa government has decided to provide computers with internet connectivity to all the 6,234 gram panchayats in the state. The state-owned Orissa Computer Application Center (OCAC) has been entrusted with the task. |
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