October 1: Snapshot for the day
October 1: Snapshot for the day
A customer walks into a BlackBerry store in Mumbai
India's telecommunications ministry has rejected a solution offered by Research In Motion for its BlackBerry corporate email services, and it has not been able to access chats on the messenger service either, the Economic Times reported on Friday.
The paper cited an internal note from the ministry saying security agencies have been unable to intercept or monitor secure email communication in readable format. The paper also said law enforcement agencies have failed to intercept chats on the BlackBerry Messenger platform.
Last week a government source told Reuters that India and RIM had hit technical glitches in their talks on access to corporate email, but access to the messenger services was satisfactory.
A truck passes shipping containers stacked at the Container Terminal at the Cochin Port on Willingdon Island in Kerala
India's exports rose for the tenth straight month in August, growing an annual 22.5 per cent to $16.64 billion, government data on Friday showed.
Imports for the month rose 32.2 per cent to $29.7 billion, widening the country's trade deficit to $13.04 billion.
Exports during the April-August period rose 28.6 per cent to $85.27 billion.
Asia's third-largest economy is targeting close to 15 per cent export growth in the current fiscal year, following a drop of 4.7 per cent in the 2009/10 fiscal year as the global financial crisis-led slowdown crimped demand.
The August trade deficit has widened to a 23-month high and India's trade secretary has raised his projection for the full-year figure, but said the bulging deficit was not yet a problem and could be financed.
Engineers work on a car body at Tata Motors Ltd.'s in Pune
Tata Motors, India's leading vehicle maker with about two-thirds of the local market, said it will raise prices on some passenger and all commercial vehicles from Monday due to rise in input costs.
The price increase in passenger cars is on the Tata Indica and the Tata Indigo models in the range of Rs 4,500-14,000, the company said in a statement.
The price rise in commercial vehicle is in the range of Rs 5,000 and Rs 40,000, it added.
A view of the Commonwealth Games village in New Delhi, September 16, 2010. Emaar MGF, the builder of the Games village, plans to launch an IPO by December to raise up to Rs 1600 crore
The Indian joint venture of Dubai's Emaar Properties plans to launch the IPO less than half the size announced earlier, two sources with direct knowledge said.
Emaar MGF, the builder of New Delhi's Commonwealth Games village that has come under criticism for shoddy construction, said in a statement it had filed papers on Thursday with the capital markets regulator for the IPO.
"The issue size has been lowered keeping in view the existing fund requirements," a company spokeswoman said in the statement, but gave no details of the size or when the sale would happen.
Engineers attend to calls from abroad inside a call center in Gurgaon
Small and mid-cap IT companies may see margin pressures easing by the year-end on lower attrition rates as firms beef up campus placements, gradually reducing dependence on lateral hires.
Mid-caps such as Hexaware Technologies, KPIT Cummins Infosystems, Zensar Technologies and MphasiS had resumed campus visits earlier in the year and have been building a pool of trained professionals.
"May be by the December quarter attrition should come down to a normalised level," Angel Broking analyst Srishti Anand said. "So that would also ease the pressure from margins, because their salary, general and administrative expenses should start getting normalised."
Higher attrition rates in the sector have been prompting companies to increase workforce and entice existing employees with salary hikes.
In June, industry body Nasscom had forecast that wages in the sector, which
Members of the media gather outside the head office of the Reserve Bank of India (RBI) before the announcement of the third quarter review of the monetary policy in Mumbai
The Reserve Bank of India will announce its monetary policy review for the second quarter of 2010/11 on November 2 at 11 am, it said in a release on Friday.
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