Sensex at new peak
The sensex touched a new high of 12,756.23 yesterday after the high of 12,671 recorded in May.
The total market capitalization, a measure of investor wealth, was flat at Rs. 3.26 lk crore.
Nobel prize for Dr. Muhammed Yunus
The 2006 Nobel peace prize was awarded to the Bangladeshi and the pioneer of microfinance who established the Grameen Bank in 1976.
Domestic Economic Zone
A new concept of Domestic Economic Zone is proposed to be set up in J&K for areas which lack adequate resources to have enough exports. The DEZ would need an investment of around Rs. 700 cr for creating a separate business district with adequate infrastructure.
Proliferation Security Initiative launched by US in May 2003 encourages countries to interdict weapons from North Korea, Iran and other states of concern.
Indian spirits market
The 115 mln cases market is primarily known as a whisky market, rum commands a 60% share in this.
Rum is distilled from molasses, and is water white when first distilled, but it gets its colour from the oak barrel during the ageing process and probably from caramel too, colouring agent.
Telecom VAS players ringing in profit
The Value Added Services (VAS) industry is currently worth Rs. 400 cr in India and is expected to touch Rs. 4000 cr by 2010. Although VAS currently contributes only 7-9% to telecom ventures, with just a few serious players in the market, it is one sector that is sure to rake in more revenues in the future.
Good time for hotel biz
All India occupancy touches 70.8%.
MAT technology now in India
Mobile Asset Tracking (MAT) is the latest technology to hit the market. It can be used to detect any tampering of a goods vehicle.
Green Building Congress to create eco-sensitivity
The projected growth potential for green buildings in India is estimated at Rs. 2000 cr by the year 2008.
Today more than 40 buildings are directly applying the LEED, US rating system.
Jaipur foot was developed out of poly-urethane which was primarily researched and developed by ISRO for use in rocket motors.
Planning Commission moots education voucher system
Under this system, the government, instead of funding schools, will provide funding directly to students in the form of vouchers. Students would be able to redeem these vouchers in a school of their choice. In turn, the schools will receive payments from government against the vouchers.
First tranche of oil bonds to be issued next Monday
Govt. is set to issue oil bonds worth Rs. 14,500 cr in three tranches. Rs. 5,000 cr, Rs. 5,000 and Rs. 4,150 cr.
The Government anticipated an under recovery of Rs. 73,500 cr in June this year on selling fuel. At the current level of global crude prices, it is anticipated that the under-recoveries would be around Rs. 60,000 cr.
Price cut would considered only if the Indian basket of crude oil fell to $50 per barrel. The Indian basket of crude was at $56.63 per barrel currently.
India has 125 airports, of these 11 are designated international airports. In contrast US has 20,000 airports. It also has 6,10,000 pilots and about 2,20,000 of various types of civilian planes.
China’s trade surplus for the first 9 months of the current year is at $110 bn exceeding last year’s total.
IL&FS to set up Rs. 3000 cr PMDO facility
Infrastructure Leasing & Financial Services announced the setting up of a Rs. 3000 cr Pooled Municipal Debt Obligation (PMDO) facility in association with 15 scheduled commercial banks.
The fund would partly help answer the debt requirements of municipalities across India.
Statistics indicate that by 2020, 40% of India would be in urban centres and that 65% of the country’s GDP will come from the urban areas.
The tenor of PMDO will be for 13 years and will come with a 3 year moratorium and carry a 9.5% coupon rate.
Agriculture in Andhra Pradesh
The Government’s aim is to bring 1.2 lakh hectares of land under micro irrigation.
About 2.5 mln farmers are availing free power in the state.
Currently about 50,00 farmers in the state use technology for farm mechanization.
From the year 1750 util the present, methane levels went from 750 part per billion to 1700 ppb. About 60% of the methane going into the atmosphere is anthropogenic or human caused. Methane is CH4 and is colloquially referred to as swamp gas.
Sensex at new peak