DAE gets EC nod for signing pact for Koodankulam plant’s III & IV units

KoodankulamThe Department of Atomic Energy (DAE) can sign a nuclear reactor-purchase deal with Russia anytime soon as it has gained the Election Commission's permission for the same.

The DAE needs to purchase two 1,000 MW nuclear reactors for the Koodankulam Nuclear Power Project's unit III and unit IV. But, the implementation of model code of conduct had barred the department from signing the deal.

Ranbaxy shareholders should hold onto their investments: Angel Broking

ranbaxyRanbaxy shareholders should keep on holding onto their investments as the combination of synergies and positives emanating from the company's merger deal with Sun Pharmaceutical Industries Ltd would likely benefit them, analysts suggest.

Mumbai-based Sun Pharma on Monday announced that it would acquire Ranbaxy Laboratories Ltd for $4-billion (nearly Rs 24,000 crore) all stock deal. The transaction has equity value of $ 3.2 billion (nearly Rs 19,200 crore), while the remaining is Ranbaxy's debt that would be assumed by the new company. Ranbaxy shareholders will get 0.8 of a Sun Pharma share for each Ranbaxy share they own.

BJP use Ram Mandir & other issues just to gain power: Omar Abdullah

Omar AbdullahBJP's three main manifesto promises, viz. common civil code, Ram Mandir, and article 370, are to deceive voters, Jammu & Kashmir Chief Minister Omar Abdullah said on Monday.

Omar Abdullah said that BJP was not serious about fulfilling any of the three controversial manifesto promises. He argued why BJP didn't pay any heed to fulfill the promises when it was in power.

Qualcomm introduces two new Snapdragon processors

Qualcomm SnapdragonChip giant Qualcomm on Monday introduced two new Snapdragon processors, which promises ultimate mobile computing experiences in video, imaging as well as graphics.

Qualcomm said it designed the Snapdragon 810 and Snapdragon 808 processors for high-end mobile smartphones and tablets.

Designed with 20nm process technology, the new processors boast Cat 6 LTE, advanced multimedia features and 64-bit capabilities. The processors are the company's highest performing platforms to date, and completes its lineup of 64-bit, LTE-enabled chipsets.

WWE stock suffers steep fall in wake of The Undertaker’s defeat

WWEStock in World Wrestling Entertainment (WWE) suffered a fall of more than 14 per cent its market value on Monday, after The Undertaker's 21-match winning streak came to an end.

Former UFC champion Brock Lesnar defected The Undertaker during a match at WrestleMania XXX in New Orleans on Sunday night. It was the first time in The Undertaker's career that a rival managed to defeat him.

WWE shares slipped $4.12 or 14.3 per cent to $23.90 in trading on Monday. At one point, the stock slipped to as low as 22 per cent.

Business, employment to grow 4% & 5%, respectively, in next 6 months

Business, employment to grow 4% & 5%, respectively, in next 6 monthsIndian economy will enjoy a 4 per cent growth in business and a 5 per cent growth in employment in the next six months, according to a fresh report by composite staffing company TeamLease Services.

The recently released Business & Employment Outlook HY1 report says that most cities across the country will have a positive hiring outlook in the coming six months.

CIL’s tender for coal import elicits single bid from MMTC

CIL’s tender for coal import elicits single bid from MMTCState-run miner Coal India Ltd's (CIL's) tender for coal import contract, which was floated at the start of this year, has received a single bid from MMTC.

Requesting anonymity, an official from the miner said the single bid received from MMTC for importing coal from foreign markets to meet supply agreements with power plants was under evaluation.

However, the official declined to comment on the proposed quantity of coal imports for the current financial year. The miner aims to finalise the bid by next month.

Chennai Airport suffers one more glass panel crash

Chennai Airport suffers one more glass panel crashChennai Airport on Sunday witnessed falling and shattering of a massive glass panel, which sent a wave of shock and panic among bystanders.

A glass panel measuring 6 feet by 3 feet, which was a part of the exterior facade of a new terminal at the airport, fell from a height of nearly 30 feet above the first floor and crashed all the way down to the ground floor, splintering pieces of glass every where.

Many passengers were entering the departure hall, while a family was sitting nearby; but fortunately, no one got injured in the accident.

Odisha Govt. has no objection to Khandadhar mines’ allocation to Posco

Odisha Govt. has no objection to Khandadhar mines’ allocation to PoscoOdisha's Naveen Patnaik-led government has no objection to the allocation of the Khandadhar iron ore mines to South Korea's steel producer Posco, a senior official of the state government said.

The Khandadhar iron ore mines in Sundargarh to Posco-India in 2009 for its proposed 8-million-tonne steel plant in Jagatsinghpur district of the state. But, the state's High Court later annulled the allocation, forcing the Odisha government to approach the Supreme Court.

Singapore Maritime Week begins on Sunday

Singapore Maritime Week begins on SundayThe Singapore Maritime Week (SMW), which is in its ninth edition this year, was launched on Sunday with many facilities.

The ninth edition of the Singapore Maritime Week (SMW) will be the largest edition of the annual event yet with a host of activities planned. Minister for Transport Mr Lui Tuck Yew launched the new SMW 2014 at VivoCity.

New Zealand housing prices fall in March

New Zealand housing prices fall in MarchAccording to the latest figures released, the housing prices in New Zealand have continued to fall in the month of March as the buyers are discouraged due to restrictions on lending and rising interest rates.

The housing prices have been falling in the country since previous five straight months as the demand is affected by economic factors. The government's Quotable Value's (QV) said that the demand for housing has been affected by increasing interest rates and the limitations on bank lending in the country.

Government bars three firms from hiring under TFW programme

Government bars three firms from hiring under TFW programmeThe federal government has announced its decision to bar three employers from participating in the Temporary Foreign Workers program to hire workers from abroad.

A report showed that the authorities suspended all pending foreign worker permits for three McDonald's locations in Victoria, B. C, which is owned by franchisee Glen Bishop until an investigation is completed. Bishop has said that he has no information to hide, but he did not acknowledge the complaints.

Australia eyeing free trade pact with Japan

Australia eyeing free trade pact with JapanAustralian Prime Minister Tony Abbott is working to finalise a free trade agreement with the government of Japan.

The Prime Minister said pointed out that the deal will help in creating new jobs in Australia. While speaking to a business gathering in Tokyo, he said that the trade deal will also strengthen regional security. Japan and Australia are working closely to reaching a trade deal at a time when the Japanese authorities are working to reach a similar agreement with the government of the United States, which is a step ahead towards the Pacific trade pact.

Nigeria overtakes South Africa as Africa's largest economy

Nigeria overtakes South Africa as Africa's largest economyAccording to the latest figures released, Nigeria has become Africa's largest economy after it overtook South Africa in the previous year.

Nigeria, which is the most populous nation in Africa, recorded a Gross Domestic Product of $453 billion in 2012 that is higher than South Africa's $384 billion. Economists has acknowled the reshaping of the African economy, but South African economy remains a key economy on the African continent. They said that it is a key achievement for Nigeria and establish the country as a major economy in Africa.

Bharti Airtel to launch $400M overseas bond issue

Bharti-AirtelTelecommunication services provider Bharti Airtel will tap the overseas bond markets again to raise $400 million, a merchant banker associated with the imminent issue revealed.

The bond issue, which is a part of Bharti's $2 billion debt raising plan, will take place in the next three to four weeks. The merchant banks said the issue would likely go through either by the end of April or early next month.

Revealing the planned issue, the merchant banker said, "Bharti will be raising around $400 million in the next three-four weeks from an overseas offering."

Google reportedly preparing to introduce Android TV

Google reportedly preparing to introduce Android TVTech giant Google is reportedly preparing to introduce its wireless content streaming device, dubbed Android TV, which will go compete with the likes of Apple TV, Amazon's Fire TV and the Roku system.

Emerging reports, which could be part of Google's supposed effort to create buzz for Android TV, suggest that Google is gearing up for a formal introduction of the device.

Marks & Spencer to record another fall in sales

Marks-and-SpencerUK's clothing retailer, Marks & Spencer is expected to record another fall in sales, indicating that the retailer is facing difficulties even as it is focusing on reviving business during the previous few months.

Sun Pharma to acquire Ranbaxy for $3.2 billion

Sun-PharmaIndia's largest drug maker by market value, Sun Pharmaceutical Industries has indicated that it is planning to buy Ranbaxy Laboratories in a deal valued at $3.2 billion in stock.

The acquisition will be the biggest by any Indian company in two years. Under the terms of the deal, Ranbaxy investors will get 0.8 share in Sun for every one share in Ranbaxy, the two pharmaceutical giants said in a statement. The deal values the shares at about 457 rupees a share, or about 24 percent higher than the 60-day average.

Regulators record higher complaints against energy firms

OfgemData released by the Ombudsman Services have showed an increase in the number of complaints against energy companies during the first quarter of the year.

The data showed that the number of complaints recorded an increase of 224 per cent to 10,638 during the first quarter compared to 3,277 recorded during the first quarter of 2013. The data showed that the number of complaints will be higher in 2014 as there were a total of 17,960 complaints during the previous 12 months.

HS2 project to impact plant species, report

HS2According to a new report, the high speed rail link project to connect the British capital, London and the north of England might have an impact on some plant species.

The report said that the project might result in some plant species becoming endangered in the area while on the other hand it is likely to offer only a small emission savings. The report from the House of Commons Environmental Audit Committee said that the authorities will have to adopt better safeguards in order to address the issues relating to the environmental impact of the proposed HS2 link project.

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