- Nakoda, a leading player in the polyester filament yarn segment, is set to commence its wind power project in Madhya Pradesh. It proposes to acquire wind mills from Global Wind Power, a company floated by Reliance ADAG Group. The company will invest Rs.32.92 crore. After commissioning of the new machines, Nakoda's wind power capacity will increase from 6.75 MW to 12 MW, says a company release.
- India has slipped by two places to 51st in the World Economic Forum's global competitiveness rankings, while rival China has managed to improve its standing to 29th.As per the WEF's Global Competitiveness Report 2010-11, released today, Switzerland is No. 1 in the world in terms of its ability to provide the most competitive environment on several fronts.
- Private sector lender ICICI Bank has been awarded the World Finance Awards 2010 in three categories.The three categories are Excellence in NRI services-Worldwide, Excellence in Remittance Business-Worldwide and Excellence in Private Banking Business-Asia-Pacific Region awards at the prestigious World Finance Awards, UK, 2010, a press release stated.
- President Barack Obama today underlined his determination to end tax incentives for companies that create jobs overseas, saying he will provide a generous tax credit to companies that create more jobs in the US.Amid indication that outsourcing could become a hot issue in the November elections, Obama said the tax breaks should go to companies that create jobs in the US and not overseas.
- India today condemned the plan of small Florida church pastor to burn copies of the holy Quran to mark the 9/11 attacks and called on US authorities to take "strong action" to prevent such an "outrage" being committed.Union Home Minister P Chidambaram while deploring Pastor Terry Jones's move to burn copies of Islam's holiest text on September 11 also urged the Indian media to exercise "great restraint" over the coverage of the act to help maintain peace and harmony.
- A year-long Environmental Impact Assessment study has been taken up on the Sethusamudhram project by the Centre and only after it is completed will it be decided whether to continue the project or not, said Rajendra K. Pachauri, Director-General, The Energy and Resources Institute (TERI), here on Thursday.
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