October 8: Snapshot for the day
October 8: Snapshot for the day
A family walks past a display of a BlackBerry smart phone at a shopping mall in Dubai
The United Arab Emirates will not suspend BlackBerry services on October 11 after resolving a dispute with its Canadian maker Research in Motion over access to email and other data, state news WAM agency said on Friday.
The UAE had said it would suspend BlackBerry Messenger, email and web browser services to about 500,000 subscribers from October 11 unless Canadian BlackBerry maker RIM works out a way to locate encrypted servers in the country, so that the government can seek access to messages.
"The Telecommunications Regulatory Authority (TRA) has confirmed that Blackberry services are now compliant with the UAE's telecommunications regulatory framework," a statement on WAM said.
Finance Minister Pranab Mukherjee reacts during the World Economic Forum in New Delhi
Restoring the International Monetary Fund's credibility after the global financial crisis requires a bold shift of power to developing economies from the rich nations which have long controlled the IMF, Finance Minister Pranab Mukherjee said on Thursday.
"These changes can enhance the fund's credibility, only if, bold and forward-looking quota and governance changes are implemented, which will restore the fund's legitimacy," he said in statement to the IMF.
"The burden of the quota shift to dynamic emerging markets and developing countries has to be borne primarily by advanced economies and I reiterate my call for a shift of 5 to 6 per cent in quota share from advanced countries to developing countries," Mukherjee said.
Stock brokers watch the key index graph in a brokerage firm in Mumbai
US private equity giant Carlyle Group is betting patience will be rewarded in an Indian market where global players have had to content themselves almost exclusively with deals for minority stakes.
India's family-run and entrepreneur-driven firms have long been reluctant to sell out, preferring instead to raise money by going public or through bank borrowings. Private equity firms have adapted their strategies by providing growth capital or investing in companies that are already listed.
"We don't have a 'runs on the board' approach. We are quite happy to sit on the sidelines and wait for the right deal," said Devinjit Singh, a managing director at Carlyle.
a container ship is loaded at the container terminal at the cochin port on willingdon island in kerala india's shipping industry is setting out on a fleet expansion drive as the country's port capacity is set to increase, but still-soft freight rates will put a lid on recovery after an extended slowdown. cargoes at indian ports are expected to top 1 billion tonnes in 2010 compared to about 845 million tonnes last year, india's shipping secretary k. mohandas said. this is line with a broader asian business boom and shipping companies will have to expand to meet rising demand. "vis-a-vis last year the shipping industry has definitely done better this year," said s. hajara, chairman and managing director, shipping corp of india. "the topline is expected to grow for most of the shipping companies."
a customer selects one-carat gold bangles during an exhibition in jammu india gold buying edged up as traders stocked for festivals after domestic prices eased from their record high, though a weaker rupee limited the downside, dealers said. "there is buying. jewellers, who used to buy 20 kgs are buying 5 kg, as prices are a bit lower," said a dealer with a state-run gold importing bank in mumbai. local gold on the multi commodity exchange (mcx) was trading 0.31 per cent lower at rs 19,396 per 10 grams at 1:01 pm, still down 1.8 per cent from an all-time high of rs 19,744 struck in the previous session. "there are plenty of orders downwards, a fall of rs 500 could revive demand," said another dealer with a private bullion dealing bank.
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