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Submitted by –Submitted by –
Lakhvir SinghLakhvir Singh
Weekly NewsWeekly News
(1 November – 7 November 2010)(1 November – 7 November 2010)
The government has excluded domestic helps -- amongThe government has excluded domestic helps -- among
the sections most vulnerable to sexual harassment -- from thethe sections most vulnerable to sexual harassment -- from the
purview of the Bill that the Union Cabinet cleared here onpurview of the Bill that the Union Cabinet cleared here on
Thursday for protection of women against sexual harassmentThursday for protection of women against sexual harassment
at workplace.at workplace.
The Bill, which is likely to be tabled in the winterThe Bill, which is likely to be tabled in the winter
session of Parliament, mandates that women subjected tosession of Parliament, mandates that women subjected to
sexual advances -- verbal or physical -- are within their rightsexual advances -- verbal or physical -- are within their right
to complain against her colleague. A person found guilty ofto complain against her colleague. A person found guilty of
sexual harassment is likely to face financial penalties besidessexual harassment is likely to face financial penalties besides
loss of employment and, in case of a graver offence -- a policeloss of employment and, in case of a graver offence -- a police
complaint.complaint.
In order to address complaints related to sexualIn order to address complaints related to sexual
harassment, the Bill envisages formation of committees inharassment, the Bill envisages formation of committees in
each organisation, which has more than 10 workers or a localeach organisation, which has more than 10 workers or a local
committee at the level of district or sub-district if it is ancommittee at the level of district or sub-district if it is an
organisation with less than 10 people.organisation with less than 10 people.
The penalty, if harassment is proved, will be levied inThe penalty, if harassment is proved, will be levied in
view of the victim's mental suffering and trauma, income andview of the victim's mental suffering and trauma, income and
financial status, medical expenses incurred and loss in careerfinancial status, medical expenses incurred and loss in career
opportunity because of the incident. For the first time, anyopportunity because of the incident. For the first time, any
person giving a false complaint or false evidence will be liableperson giving a false complaint or false evidence will be liable
to be punished under service rules.to be punished under service rules.
Royal Bank of Scotland expected market conditionsRoyal Bank of Scotland expected market conditions
to remain challenging into the fourth quarter, as charges on theto remain challenging into the fourth quarter, as charges on the
value of its own debt hit the third-quarter results of the part-value of its own debt hit the third-quarter results of the part-
nationalised British bank. RBS reported on Friday a third-nationalised British bank. RBS reported on Friday a third-
quarter operating loss of 132 million pounds ($213 million),quarter operating loss of 132 million pounds ($213 million),
compared with a second-quarter profit of 869 million.compared with a second-quarter profit of 869 million.
Earnings were hit by a charge of 858 million pounds inEarnings were hit by a charge of 858 million pounds in
relation to movements in the fair value of the group's ownrelation to movements in the fair value of the group's own
debt. The bank said excluding this, it had an operating profit ofdebt. The bank said excluding this, it had an operating profit of
726 million pounds in the third quarter, helped by a 21 percent726 million pounds in the third quarter, helped by a 21 percent
drop in bad debts compared to the second quarter.drop in bad debts compared to the second quarter.
Earlier this week, concerns over losses from problemEarlier this week, concerns over losses from problem
loans overshadowed rival part-nationalised British bankloans overshadowed rival part-nationalised British bank
LloydsLloyds
RBS said the fourth quarter would remain challenging forRBS said the fourth quarter would remain challenging for
its GBM investment banking arm, while the trends for its retailits GBM investment banking arm, while the trends for its retail
and commercial banking division were in line with those ofand commercial banking division were in line with those of
the third quarter.the third quarter.
It added that it expected a UK bank levy to cost it 225It added that it expected a UK bank levy to cost it 225
million to 250 million pounds next year, rising to 350 millionmillion to 250 million pounds next year, rising to 350 million
to 400 million pounds in 2012to 400 million pounds in 2012
China will maintain its exports of rare earth mineralsChina will maintain its exports of rare earth minerals
next year, Trade Minister Chen Deming said on Friday, addingnext year, Trade Minister Chen Deming said on Friday, adding
that trade in rare earths should not be made into a politicalthat trade in rare earths should not be made into a political
issue.issue.
"The rare earth issue should not be made political. China will"The rare earth issue should not be made political. China will
maintain its existing rare earth exports next year," Chen, whomaintain its existing rare earth exports next year," Chen, who
was accompanying President Hu Jintao on an official visit,was accompanying President Hu Jintao on an official visit,
told reporters.told reporters.
Italian industrial group Fiat SpA intends toItalian industrial group Fiat SpA intends to
strengthen its home country roots and has no wish to delaystrengthen its home country roots and has no wish to delay
investments, its chief executive said on Friday.investments, its chief executive said on Friday.
CEO Sergio Marchioness has clashed with tradeCEO Sergio Marchioness has clashed with trade
unions on his efforts to boost productivity at Fiat's Italianunions on his efforts to boost productivity at Fiat's Italian
plants and the dispute has delayed its Fabrica Italia (Factoryplants and the dispute has delayed its Fabrica Italia (Factory
Italy) investment plan to boost production.Italy) investment plan to boost production.
Fiat's investment plans for Italy envisage spending 20Fiat's investment plans for Italy envisage spending 20
billion euros ($28.28 billion).billion euros ($28.28 billion).
Fiat shares were up 1.6 per cent at 12.7 euros. TheFiat shares were up 1.6 per cent at 12.7 euros. The
auto sector index is down 0.12 per cent.auto sector index is down 0.12 per cent.
THANK YOUTHANK YOU

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7 nove 2010

  • 1. Submitted by –Submitted by – Lakhvir SinghLakhvir Singh Weekly NewsWeekly News (1 November – 7 November 2010)(1 November – 7 November 2010)
  • 2. The government has excluded domestic helps -- amongThe government has excluded domestic helps -- among the sections most vulnerable to sexual harassment -- from thethe sections most vulnerable to sexual harassment -- from the purview of the Bill that the Union Cabinet cleared here onpurview of the Bill that the Union Cabinet cleared here on Thursday for protection of women against sexual harassmentThursday for protection of women against sexual harassment at workplace.at workplace. The Bill, which is likely to be tabled in the winterThe Bill, which is likely to be tabled in the winter session of Parliament, mandates that women subjected tosession of Parliament, mandates that women subjected to sexual advances -- verbal or physical -- are within their rightsexual advances -- verbal or physical -- are within their right to complain against her colleague. A person found guilty ofto complain against her colleague. A person found guilty of sexual harassment is likely to face financial penalties besidessexual harassment is likely to face financial penalties besides loss of employment and, in case of a graver offence -- a policeloss of employment and, in case of a graver offence -- a police complaint.complaint.
  • 3. In order to address complaints related to sexualIn order to address complaints related to sexual harassment, the Bill envisages formation of committees inharassment, the Bill envisages formation of committees in each organisation, which has more than 10 workers or a localeach organisation, which has more than 10 workers or a local committee at the level of district or sub-district if it is ancommittee at the level of district or sub-district if it is an organisation with less than 10 people.organisation with less than 10 people. The penalty, if harassment is proved, will be levied inThe penalty, if harassment is proved, will be levied in view of the victim's mental suffering and trauma, income andview of the victim's mental suffering and trauma, income and financial status, medical expenses incurred and loss in careerfinancial status, medical expenses incurred and loss in career opportunity because of the incident. For the first time, anyopportunity because of the incident. For the first time, any person giving a false complaint or false evidence will be liableperson giving a false complaint or false evidence will be liable to be punished under service rules.to be punished under service rules.
  • 4. Royal Bank of Scotland expected market conditionsRoyal Bank of Scotland expected market conditions to remain challenging into the fourth quarter, as charges on theto remain challenging into the fourth quarter, as charges on the value of its own debt hit the third-quarter results of the part-value of its own debt hit the third-quarter results of the part- nationalised British bank. RBS reported on Friday a third-nationalised British bank. RBS reported on Friday a third- quarter operating loss of 132 million pounds ($213 million),quarter operating loss of 132 million pounds ($213 million), compared with a second-quarter profit of 869 million.compared with a second-quarter profit of 869 million. Earnings were hit by a charge of 858 million pounds inEarnings were hit by a charge of 858 million pounds in relation to movements in the fair value of the group's ownrelation to movements in the fair value of the group's own debt. The bank said excluding this, it had an operating profit ofdebt. The bank said excluding this, it had an operating profit of 726 million pounds in the third quarter, helped by a 21 percent726 million pounds in the third quarter, helped by a 21 percent drop in bad debts compared to the second quarter.drop in bad debts compared to the second quarter.
  • 5. Earlier this week, concerns over losses from problemEarlier this week, concerns over losses from problem loans overshadowed rival part-nationalised British bankloans overshadowed rival part-nationalised British bank LloydsLloyds RBS said the fourth quarter would remain challenging forRBS said the fourth quarter would remain challenging for its GBM investment banking arm, while the trends for its retailits GBM investment banking arm, while the trends for its retail and commercial banking division were in line with those ofand commercial banking division were in line with those of the third quarter.the third quarter. It added that it expected a UK bank levy to cost it 225It added that it expected a UK bank levy to cost it 225 million to 250 million pounds next year, rising to 350 millionmillion to 250 million pounds next year, rising to 350 million to 400 million pounds in 2012to 400 million pounds in 2012
  • 6. China will maintain its exports of rare earth mineralsChina will maintain its exports of rare earth minerals next year, Trade Minister Chen Deming said on Friday, addingnext year, Trade Minister Chen Deming said on Friday, adding that trade in rare earths should not be made into a politicalthat trade in rare earths should not be made into a political issue.issue. "The rare earth issue should not be made political. China will"The rare earth issue should not be made political. China will maintain its existing rare earth exports next year," Chen, whomaintain its existing rare earth exports next year," Chen, who was accompanying President Hu Jintao on an official visit,was accompanying President Hu Jintao on an official visit, told reporters.told reporters.
  • 7. Italian industrial group Fiat SpA intends toItalian industrial group Fiat SpA intends to strengthen its home country roots and has no wish to delaystrengthen its home country roots and has no wish to delay investments, its chief executive said on Friday.investments, its chief executive said on Friday. CEO Sergio Marchioness has clashed with tradeCEO Sergio Marchioness has clashed with trade unions on his efforts to boost productivity at Fiat's Italianunions on his efforts to boost productivity at Fiat's Italian plants and the dispute has delayed its Fabrica Italia (Factoryplants and the dispute has delayed its Fabrica Italia (Factory Italy) investment plan to boost production.Italy) investment plan to boost production. Fiat's investment plans for Italy envisage spending 20Fiat's investment plans for Italy envisage spending 20 billion euros ($28.28 billion).billion euros ($28.28 billion). Fiat shares were up 1.6 per cent at 12.7 euros. TheFiat shares were up 1.6 per cent at 12.7 euros. The auto sector index is down 0.12 per cent.auto sector index is down 0.12 per cent.