1. Presented by:
Ishudeep kaur
Mba-2 (Finance)
PUNJAB COLLEGE OF TECHNICAL EDUCATION 1
Weekly NEWS
(22Nov -28 Nov 2010)

2. Env Ministry issues showcause notice to Jindal's steel plant
Jindal Steel and Power Ltd's
proposed integrated steel
plant at Angul in Orissa has
hit a green hurdle with the
Environment Ministry issuing
a show cause notice
threatening to revoke its
clearance for flouting forest
norms at the site.
While the fate of Vedanta's
bauxite mining plans in
Niyamgiri have been sealed
with the Environment
Ministry red-flagging the
project, Posco's integrated
steel plant at Jagatsinghpur in
Orissa is in the limbo
following a forest panel
recommendations to
withdraw its forest clearance.
The ministry's action came in
the wake of a show-cause
notice issued last year by the
Division Forest Officer ,
Angul Forest Division who
had pointed out violation of
the FC Act, 1980 as work had
started on non-forest land
prior to clearance.

3. Dhanlaxmi to open 125 more branches,
take 2000 more employees in 2011-12 fiscal
The Kerala based Dhanlaxmi
bank proposes to open 125
more branches pan india and
add another 2000 employees on
its pay roll by 2011-12 financial
year, a top official of the bank
today said.
The employee strength is
presently 4000, which will go
upto 6000 by 2011-12 fiscal
when another 2000 employees
would be taken in.
The thrissur based bank's
business has been growing.
Second quarter growth was
equivalent to last year's full
growth.
Asked about the bank's low
profitability, he said after
march 2011, the business of the
bank would be on par with
other banks.

4. Bank of Baroda hikes retail term deposit rates by up to 75 bps
Public sector lender Bank of Baroda today announced an
increase in the interest rate on certain retail term deposit schemes
by up to 75 basis points, with effect from November 29.
The interest rate on deposits with a maturity period of 271 days
and above, but less than one year, has been increased by 50 basis
points to 6.75 per cent. Furthermore, the rates for deposits with a
tenor of between one year and 443 days have also been hiked by
50 basis points to 7.75 per cent, it added.
The maximum hike will be effected on deposits with a tenor
between 445 days and three years. The rate of interest on such
retail term deposits has been increased by 75 basis points to 8
per cent.

5. Old-time consumer electronics brands looking
to return in new avatars
A legion of old-time consumer electronics brands such as Akai, Panorama,
Weston, Kelvinator, Oscar and Maharaja Whiteline that once ruled the roost
in India , are looking to return in new avatars.
Sonodyne once gave big-box brands such as Philips and Panasonic tough
fight, but faded into oblivion in the late 1990s when Japanese and Korean
rivals entered India and changed the rules of the game with their aggressive
marketing and superior products .
Almost 15 years hence, the company is riding new-age products such as home
theatres, iPod dockers and LCD/plasma televisions to return to the market .
Sonodyne’s counterparts such as Akai, Panorama and Weston too are taking
aim at a blossoming market with products like LCDs and Plasma TVs, home
theatres, microwave ovens and automatic washing machines.

6. Tata Motors pips RIL to
emerge as India’s top brand
The Tata Motors-Jaguar-Land Rover combine, with a
valuation of $8.45 billion, has over taken Reliance to
top the list of the 50 most valuable corporate brands
in India.
BrandFinance, a London-based global brand valuation
firm, did the study in exclusive partnership with The
Economic Times.

7. Japan bends, sets ball rolling for civil N-
deal
India on Monday made significant progress in its
efforts to enter into a civil nuclear deal with Japan.
Prime Minister Manmohan Singh and Japanese Prime
Minister Naoto Kan, the two leaders welcomed the
commencement of negotiations between India and
Japan on an agreement for cooperation in the peaceful
uses of nuclear energy in June 2010.
Cooperation in this sector will open up new
opportunities for further developing the India-Japan
strategic and global partnership.

8. Export growth speeds up to 23.2%, makes space for capital flow curbs
Exporters rose to a 24-month
high in September while imports
grew a tad less, lowering the
trade deficit and creating policy
space for the government to
restrict the destabilising capital
flows without worrying about
funding the large gap between
imports and exports.
Exports grew 23.2% to $18.02
billion while imports rose 26.1%
to $27.1 billion, which helped
restrict the trade deficit to $9.12
billion from an alarming more
than $13 billion in August.

9. UK springs a surprise, GDP rises better-than-expected 0.8% in Q2
UK’s economy
grew at 0.8% in
the third quarter,
taking analysts
and markets by
welcome surprise.
GDP grew by
2.8 %, the
fastest annual
rate in 3 years.
Construction
was the main
driver for
growth this
quarter.