Reliance Power’s Tilaiya project gets approval for carbon credits

Tagged : Anil, anil ambani, carbon, carbon credits, CERs, chalasani, Clean, clean development mechanism, Development, framework convention on climate change, Group, Mechanism, Monday, pit head, plant, reliance group, reliance power, unfccc, united nations framework convention on climate change


Reliance Power, part of the Anil Ambani-led Reliance Group, Monday said its 3,960 MW Tilaiya ultra mega power project in Jharkhand has got approval for carbon credits from the United Nations Framework Convention on Climate Change (UNFCCC).


The CERs can be traded and sold and translates into direct revenues for the power major. The Tilaiya power plant will have six units of 660 MW each and is based in the Hazaribagh district in Jharkhand.

Petrol prices hiked by 3.14 Rs. Effective midnight

Tags:petrol price,petrol price hike,Fuel price hike,petrol price hike 3.14 rs from midnight,IOC,HPCL,BPCL,
Petrol price hike,US Dollar at high,

State-owned oil firms like ioc,bpcl and hpcl  raised petrol prices by Rs 3.14 per/litre as the rupee touched two-year low against the US dollar, increasing the cost of importing crude oil. The hike will be effective from midnight.

"Oil retailers are losing Rs 2.61 per litre or Rs 15 crore per day on sale of petrol. Together with local taxes, the hike needed to level domestic rates with international prices is about Rs 3 per litre," a top government official said.

Google to buy Motorola Mobile company for $ 12.5 bn

Google Inc announced its biggest deal ever, a $12.5 billion cash acquisition of mobile phone maker Motorola Mobility Holdings Inc .

Google's biggest foray into hardware comes weeks after a failed attempt to buy patents from bankrupt Nortel, and gives it an intellectual property library in wireless telephony to wage war on Apple and Microsoft Corp.

The deal values Motorola Mobility at $40 per share in cash, a 63 percent premium to its Friday closing price on the New York Stock Exchange. The deal features a rich reverse breakup fee of $2.5 billion, according to a source close to the situation.

India's Top Brand Infosys and TATA in new index

IT giant Infosys and salt-to-software conglomerate Tata have emerged as the Top 2 brands in India, beating global majors like Google, Nokia and Facebook, in a new index.

According to TLG''s Index of emerging market ''Thought Leaders'', seven out of the top ten brands in India were indigenous firms.

Market Ragulator SEBI decision on Takeover Code| SEBI decision on Tekeover Code likely on June 30

Market regulator SEBI is likely to raise the trigger limit for open offer to 25 per cent when it takes a decision on the new Takeover Code for merger and acquisitions at its board meeting scheduled later this month.

"SEBI is likely to clear the Takeover Code in its board meeting scheduled on June 30," an official said.

An agreement seems to have emerged between the Finance Ministry and the capital market regulator for raising the trigger limit from 15 per cent to 25 per cent, as recommended by a SEBI panel but the government is not in favour of 100 per cent open offer, sources said.

"Certainly not 100 per cent," the official said when asked if the the open offer would be for the entire stake.

Oracle seeksin billions of dollars in patent lawsuit against Google over smartphone market

SAN FRANCISCO  - Oracle Corp is seeking damages "in the billions of dollars" from Google Inc in a patent lawsuit over the smartphone market, according to a court filing.

The disclosure on Thursday was the first time either side publicly mentioned the cumulative scale of Oracle's damages claims.

Oracle sued Google last year, claiming the Web search company's Android mobile operating technology infringes Oracle's Java patents. Oracle bought the Java programming language through its acquisition of Sun Microsystems in January 2010.

Blackberry firm shares fall sharply |RIM shares had fallen by 21.65% on the Nasdaq exchange in New York.

Shares in Blackberry manufacturer Research in Motion have fallen by more than a fifth since it announced disappointing results on Thursday.

The company said that it had missed even its lowered expectations and reduced its profit forecasts.

RIM's net profit was $695m (£430m) in the three months to 28 May, down from $769m in the same period last year.

It warned in April that its profits would be low because of lower shipments of its Blackberry phones.
Share fall

By mid-morning local time on Friday RIM shares had fallen by 21.65% on the Nasdaq exchange in New York.

RIM has announced a cost-cutting programme, which will include job cuts.

Maruti Suzuki sacks 11 at Manesar; production loss at 1,800 units

NEW DELHI: The country's largest car maker Maruti Suzuki India (MSI) today sacked 11 employees at Manesar facility, which has been crippled by a strike since Saturday resulting in a production loss of about 1,800 units so far.

"The services of 11 persons, who were inciting workers to go on an illegal strike and created an atmosphere where safety of people was in danger, have been terminated," MSI Chairman R C Bhargava told .

He said the workers had gone on strike without any notice, but added the management is continuing the dialogue with the striking workers.

Sistema Shyam TeleServices Ltd (SSTL) Q1 net loss Rs. 666.4 cr

Sistema Shyam TeleServices Ltd (SSTL), which operates under the MTS brand, said its net loss widened by 63 per cent to Rs 666.4 crore for the first quarter ended March 31, 2011, even though its revenues grew three-fold.

"The decrease in margin is on account of increase in operational costs due to further scale up operations across all circles. Additionally, the circles of UP East, West and Gujarat, were launched in the latter part of 2010, hence the impact of their launch was felt in Q1 2011," SSTL, which has equity participation by Russia-based Sistema, the Russian government and the Shyam Group of India, said in a statement.

Revenues of the company grew by three-folds to Rs 236.2 crore during January-March quarter of FY'11, as against Rs 78.6 crore in the same period last year.

Cisco to cut costs and thousands of jobs for profits stall |Cisco System Inc.

NEW YORK: Cisco Systems Inc, the world's largest maker of computer networking gear, said that it's set to eliminate thousands of jobs as part of cost-cutting moves to get profits growing again.

Cisco's sales rebounded from the recession, but then started stalling in the middle of last year. In the past few months, CEO John Chambers has signaled that he's accepting long-standing criticism that the company is trying to compete in too many markets. He has vowed to radically simplify the company.

Econimics Times: Rolls-Royce celebrates Spirit of Ecstasy centenary

A Spirit of Ecstasy emblem is seen on a car at the Rolls-Royce plant where the Phantom and Ghost models are manufactured in Goodwood, near Chichester in south England. Rolls-Royce Motor Cars are celebrating in 2011 the centenary of the creation of Spirit of Ecstasy, its iconic emblem.