DDA launches Housing Scheme 2014; huge response

News4u-News Desk-The DDA on Monday launched its much- awaited ‘Housing Scheme 2014′ offering over 25,000 flats across various categories, amid a huge response from people.

“The DDA Housing Scheme 2014 is now officially open. We are offering 25,034 flats in the scheme, out of which 22,627 are one-bed room apartments. Among others, are 896 flats constructed after 2010, with green technology,” Balvinder Kumar, Vice-Chairman, DDA, said on Monday.

The new scheme offers flats ranging from Rs 7 lakh to Rs 1.2 crore across categories, viz - EWS, LIG, MIG, HIG, Janta flats and one-room apartments.

“The scheme would be open to applicants from September 1 and the last date to receive the application is October 9. The draw of lots would preferably be taken out within 20 days of the close of the scheme,” Kumar said.

Huge queues were seen at Vikas Sadan, the DDA headquarters in New Delhi where people had come from near and far away places soon after the scheme was officially launched on Monday morning at the headquarters.

The response online was so massive that the DDA official website crashed soon after the launch, a senior DDA official said.

The one-bedroom apartment flats are in Dwarka, Rohini, Narela and Siraspur areas, priced above 14 lakh onwards, depending on the location and plinth area, the DDA said.

Out of 896 newly-built flats, 512 are MIG flats and 384 Janta flats, located in Mukherjee Nagar, Narela, Rohini and Kalyan Vihar areas.

The MIG flats would range from Rs 41.30 lakh and Rs 69.90 lakh and the Janta flats - one room tenement with a kitchentte - would cost a little over Rs 10 lakh, it said.

“Nearly 20 lakh applicants are estimated to apply for this scheme and therefore we have printed about 15 lakh forms and brochures so far. But, if needed, we can print more. We have also empanelled 13 banks, who will assist the applicants,” Kumar said.

The registration fee for all other categories is Rs 1 lakh, and Rs 10,000 for EWS (Economically Weaker Section) category, he said, adding a ceiling of Rs 1 lakh of annual income has been prescribed for those applying under the EWS category.

“While for general applicants, only a PAN card photocopy would suffice along with the application form, for EWS applicants an income certificate would also have to be attached,” he added.

“While the Dwaraka flats are nearly ready, those in Rohini would be done by March next year. In Narela, they are located in G-8 and G-2 sectors. The EWS flats are located in Siraspur areas,” the official said.

DDA for the first time has introduced a five-year lock-in period for ownership of the flats, to cut out middlemen and reduce the scope of speculative buying.

“After five years, the DDA will formally execute a conveyance deed in their favour,” the DDA official said.

The urban body also for the first time had proposed a 80-20 quota in this scheme, but that proposal which sought to offer 80 percent flats to Delhi residents has been scrapped.

DDA is offering 700 flats for EWS category, which are part of the housing complex at Swatantra Bharat Mills premises on Rohtak Road.

The flats have been developed by a private builder as part of a Memorandum of Understanding (MoU) signed between the DDA and the builder.

The EWS flats priced from Rs 7 lakh to Rs 11 lakh, the urban body said. Over 800 old flats located under different categories are also being offered, on account of them being cancelled or surrendered.

These flats (older) consists of 21 HIG flats, 49 MIG, 451 LIG, 129 expendable and 161 Janta flats. The cost ranges from Rs 1.2 crore for HIG flats to Rs 5.4 lakh for Janta flats, the DDA said.

The DDA had earlier said that the total number of flats on offer was over 26,000 but on Monday said the figure has been revised to over 25,000.

For the first time, DDA has also decided to do away with attachments along with the application forms and now only a photocopy of PAN card would be needed for the new one-page form, Kumar said.

There is no income limit on one-bedroom apartments and any eligible candidate can apply.

For EWS category, there will also be an option to pay the cost of the flats in instalments, she added.

Any Indian citizen, 18 years of age and above on the date of filing of the application for the flats is eligible for the scheme.

“In its last scheme, ‘DDA Housing Scheme 2010′, there were 11 lakh applications for 15,000 flats,” a DDA spokesperson said, adding, “To curb black-marketing of forms, we have restricted the number of purchase to only two for each buyer”.

DDA launches Housing Scheme 2014

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India can get billions of dollars in FDI from Japan: Kochhar

News4u-Business Desk- As Prime Minister Narendra Modi promised speedy clearances for Japanese investments, ICICI Bank chief Chanda Kochhar today said India can get billions of dollars of fresh investments from Japan.

Kochhar, who is part of a high-level business delegation that has come to Tokyo for Modi’s first official visit as Prime Minister, said that ICICI Bank will play a major role in arranging funds for Japanese investments into India.

The areas that can attract such investments include railways, smart city projects, biotechnology, clean energy, electronics and the overall infrastructure space, Kochhar told the news agency in an interview .

“There is a huge potential to increase the fund flows from Japan and the investments can get a major fillip in the wake of Prime Minister’s promise to improve ease of doing business and fast-track the clearances,” said Kochhar, Managing Director and CEO of ICICI Bank.

Asked about the estimated size of fresh investments that can come from Japan into India, Kochhar said, “The figure can be huge and it would definitely be in billions of dollars. “Japan is currently third largest FDI source for India and still its total FDI into India is only 1.7 per cent of their overall foreign direct investments. Even if this figure goes to 5 per cent, the total investments into India would easily become USD 5 billion.”

She added, “Besides, we are getting only a small percentage of the total assets under management of funds available with Japanese financial institutions. There is huge scope for fresh investments in infrastructure space. The size of investments can be really huge.”

When asked what role ICICI can play, she said: “We can play a very significant role in funding lots of Japanese investments that would come to India. We are working with Japanese Bank of International Cooperation in areas including export credit guarantees. “All India needs to do is focus on making its business environment more friendly. There is a very big opportunity for expanding Indo-Japan economic relations. They (Japanese investors) are looking for clarity in policy regime and improvement in ease of doing business.”

She added: “Prime Minister has promised to do the needful. He gave an inspiring speech before Japanese and Indian businessmen and said that he has dealt with Japanese investors in a big way during his tenure as Chief Minister of Gujarat. He said that the kind of environment Japanese investors were provided in Gujarat, the same would be replicated at the national level now,” Kochhar said.

ICICI Bank chief Chanda Kochhar

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Tatra deal: Tejinder Singh’s bail plea dismissed, arrested

News4u-News Desk- Lt (retd) Gen Tejinder Singh was arrested on Monday on orders by a Delhi court which dismissed his bail plea for allegedly offering Rs 14 crore bribe to the Army Chief Gen V K Singh for clearing file pertaining to procurement of 1,676 heavy mobility Tatra vehicles.

Special CBI Judge Madhu Jain rejected Tejinder Singh’s bail application and sent him to judicial custody till October 20.

“Take him into custody,” the judge said. “To come up for scrutiny of documents and arguments on charge on October 20,” the court said.

Meanwhile, CBI also supplied the copy of charge sheet and other documents to Tejinder Singh, who had appeared in the court following court’s summons in the case.

During the day, he had moved the bail plea which was opposed by the CBI and was later rejected by the court.

The court had taken cognisance of the charge sheet on August 28 after relying upon the statements of former Defence Minister A K Antony, V K Singh and other witnesses whose testimonies were recorded by the agency during the probe.

The CBI in its charge sheet had alleged that in August- September 2010, the file pertaining to procurement of 1,676 Tatra vehicles was pending before V K Singh, who is now a Minister of State of External Affairs and Minister of State in-charge of Department of Northeast Region.

The Chief of Army Staff (COAS) was not convinced with the total projected requirement of the vehicles and it appeared to him that the requirement has been inflated, the agency had said, adding V K Singh had sought fresh opinion on the issue from different quarters.

In its charge sheet, the CBI had alleged that Tejinder Singh met V K Singh in his office in South Block on September 22, 2010, and during the meeting, he had offered a bribe of Rs 14 crore to V K Singh for clearing the file of Tatra vehicles by first week of October.

V K Singh got infuriated and asked Tejinder Singh to immediately leave his office and he, thereafter, intimated A K Antony about the whole incident of bribe being offered to him, the CBI had said.

The charge sheet had claimed that Antony had confirmed having been informed by V K Singh about such offer of bribe made to him about by Tejinder Singh.

CBI had arrayed 20 prosecution witnesses, including Antony, T K A Nair, the then adviser to the Prime Minister, and V K Singh and the agency had filed a set of 18 documents along with the charge sheet.

It had alleged that during the probe, the former Army chief had claimed to have recorded the alleged conversation between him and Tejinder Singh on September 22, 2010 but “the same was not provided by him (V K Singh) to the investigating agency despite efforts.”

The CBI also claimed that before the alleged bribe offer was made, Tejinder Singh and V K Singh had “excellent working relations.”

“General V K Singh on July 25, 2010 (on request of Lt (retd) Gen Tejinder Singh) had issued a letter to S S Menon, National Security Advisor (NSA), recommending Lt (retd) Gen Tejinder Singh for the post of Chief of National Technical Research Organisation.

This proves that the COAS (V K Singh) and Lt (retd) Gen Tejinder Singh had excellent working relations till the alleged offer of bribe was made by him to the COAS,” the charge sheet had said.

“However, after the date on which the bribe was allegedly offered, these two officers have not been in touch.

This is another circumstance to prove some unpleasant interaction on the date the offer was made,” it had claimed.

The agency had alleged that the complaint and statement given by V K Singh was “duly corroborated” by the chain of circumstances which proved that Tejinder Singh had offered him bribe of Rs 14 crore to clear file relating to Tatra trucks.

CBI had also said that on September 22, 2010, the decision on the file relating to procurement of Tatra trucks was pending as V K Singh had sought comments of various senior officers on it.

“Therefore, there were cogent reasons for a conspiracy to be hatched to get the file of Tatra trucks cleared from COAS,” it had said.

A case was lodged by CBI against Tejinder Singh on October 19, 2012 following complaint by V K Singh.

Tatra deal: Tejinder Singh’s bail plea dismissed, arrested

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Wozniacki knocks Sharapova out of US Open, Ferrer falls

News4u-Sports Desk-Maria Sharapova’s 10th US Open ended in defeat to fellow former world number one Caroline Wozniacki, leaving the women’s draw with just two of its top eight seeds.

Also exiting on an afternoon of high humidity, which eventually descended into an early evening of lightning and torrential rain, was Spanish fourth seed David Ferrer, the highest-ranked casualty in the men’s event.

Five-time Grand Slam champion Sharapova — the 2006 title winner in New York — was defeated by Danish 10th seed Wozniacki with the 2009 runner-up claiming a deserved 6-4, 2-6, 6-2 triumph on a steamy Arthur Ashe Stadium court to reach the quarter-finals on Sunday.

Sharapova, looking to add this year’s US Open title to her French Open win in June, was undone by 43 unforced errors and eight double faults.

The hot and humid conditions were so punishing that the players were granted a heat break in the locker room before the third set, and when they returned to the court Wozniacki wasted little time, breaking Sharapova to love in the fourth game for a 3-1 lead.

She broke the Russian superstar again in the final game to seal the victory and a chance to play 13th-seeded Italian Sara Errani for a semi-final berth.

Errani ended the magical run of 32-year-old Croatian qualifier Mirjana Lucic-Baroni 6-3, 2-6, 6-0.

“It means so much to me,” said Wozniacki, who reached the semi-finals in 2010 and 2011 but hadn’t been past the third round at Flushing Meadows the last two years.

“It’s been a bit up and down for me this season,” she added. “To win today against a champion like Maria is an unbelievable feeling.”

The departure of fifth-seeded Sharapova leaves just two of the women’s top eight left — world number one and two-time defending champion Serena Williams and seventh-seeded Canadian Eugenie Bouchard.

“I thought she played really well. She made me hit a lot of balls. That’s always been her strength. But she did extremely well today. She’s a great retriever, especially in these types of conditions. I just felt like I maybe went for a little too much,” said Sharapova.

Gilles Simon sent Ferrer crashing to his earliest US Open defeat in five years with a 6-3, 3-6, 6-1, 6-3 third round win.

The 26th seeded Simon capitalised on the 52 unforced errors of the 32-year-old Ferrer, a semi-finalist in 2007 and 2012, who appeared to struggle physically towards the end.

- Simon to face Cilic –

Simon goes on to face Marin Cilic of Croatia, who beat South Africa’s Kevin Anderson 6-3, 3-6, 6-3, 6-4, for a place in the quarter-finals in a clash of two men who both missed the 2013 tournament.

Simon was back in France for the birth of his second child while Cilic was serving out a doping ban.

The wiry 29-year-old Frenchman admitted he was delighted to have got the better of Ferrer against whom he had lost five times in six meetings.

“He destroyed me five times before,” said Simon, one of five Frenchmen to reach the third round.

“So I just tried to stay loose and relaxed and enjoy myself on court. But I am tired. The weather forecast said it would be cooler today but it didn’t feel like it.”

Play was eventually halted on all courts shortly after 4:30pm local time (20:30GMT) due to the threat of lightning and rain, a decision which came as a relief to Roger Federer who was trailing in his third round match.

Federer, the five-time champion, was 5-2 down in the first set against Spain’s Marcel Granollers on the Ashe stadium.

Elsewhere, Czech sixth seed Tomas Berdych, a semi-finalist in 2012, led Russia’s Teymuraz Gabashvili 6-3, 1-2 when play was stopped, Feliciano Lopez and Dominic Thiem were level at 3-3 while Adrian Mannarino was 4-3 up on Roberto Bautista Agut.

Wozniacki knocks Sharapova out of US Open

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Fresh clashes erupt between police and protesters in Pak

News4u-News Desk-Fresh clashes erupted on Monday morning between police and hundreds of anti-government protesters who forcibly entered the heavily-guarded Pakistan Secretariat in Islamabad after breaking its gate, hours after the powerful military asked all parties to peacefully resolve the political crisis.

After a brief calm due to overnight rain, the protesters armed with clubs and sticks on Monday morning broke the gate and entered the premises of the secretariat, defying calls from the army personnel not to enter inside the building.

Police fired rubber bullets and tear gas shells to push them back but remained unsuccessful. The protesters damaged vehicles of employees of the secretariat.

The fresh clashes came hours after an emergency meeting of army corps commanders on Sunday night who expressed serious concern over the prevailing political turmoil in the country with the government of embattled Prime Minister Nawaz Sharif locked in a showdown with Pakistan Tehreek-i-Insaf chairman Imran Khan and Pakistan Awami Tehreek chief Tahir-ul Qadiri.

The generals, who have ruled Pakistan for more than half of its history since independence from Britain in 1947, said that the “situation should be resolved politically without wasting any time and without recourse to violent means”.

The last 48 hours saw the anti-government protests morph the high-security Red Zone from a concert ground to a bloody battlefield, with three people killed and over 550 injured.

Thousands of supporters of Khan and Qadri are battling with the police since Saturday night to reach in front of the PM House, the official residence of Prime Minister Sharif.

The clashes started when both Khan and Qadri asked their followers, camping in front of the parliament house, to shift the venue of protest to lawns of PM House on Saturday night.

The protesters fought pitch battles with the police until the heavily shower forced them to halt pelting stones at them on Sunday night.

After the rain stopped, the protesters on Monday morning resumed clashes. Dozens of policemen have been injured in the clashes.

The News reported that a case has been registered against Khan for inciting violence and encouraging attack at the security forces and the parliament, a charge denied by him.

Khan and Qadri have snapped communications with the official negotiators after the fifth round of talks failed to produce any result last week.

Khan wants the PML-N government’s ouster over alleged rigging in last year’s poll which his party lost, while Qadri wants to bring a revolution in the country.

Both the leaders are agitating since 14th August.

Fresh clashes erupt between police and protesters in Pak

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UP govt suspends recovery of dues and loans from farmers

News4u-Business Desk-Uttar Pradesh government has suspended recovery of all revenue dues and cooperative bank loans from farmers in drought and flood-affected areas of the state.

“Chief Minister Akhilesh Yadav had Sunday night given directions to suspend recovery of all revenue dues and loans of cooperative banks from farmers in drought and flood-affected areas”, an official spokesman said on Monday.

The instructions have also been issued to provide additional irrigation water through canals and installation of handpumps and providing seeds to farmers in drought-hit areas.

The CM directed officers to prepare a demand for special package from Centre for drought-hit areas including waiving of farmers’ loans, financial assistance for damaged crops and other issues.

Chief Minister Akhilesh Yadav

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CBI files final status report on graft case against HP CM

News4u-News Desk-The CBI on Monday filed its final status report in the Delhi High Court on its probe into allegations that Himachal Pradesh Chief Minister Virbhadra Singh, during his earlier tenure as CM and Union Minister, was involved in graft, money laundering and forgery.

A bench of Chief Justice G Rohini and Justice R S Endlaw also directed the HP Chief Minister to file his affidavit in the court by Tuesday.

“The final status report of the CBI is filed in sealed cover and same is also taken on record,” the bench said, adding that it will hear the arguments in the case on 10th September.

The bench also said, “How can a party (HP CM) be allowed to file its response without being issued a notice?”

The response came after the counsel for Virbhadra Singh said that a notice should not be issued against the Chief Minister and he be allowed to advance the arguments on the issues including the maintainability of the PIL against him.

The bench was hearing a PIL filed by NGO ‘Common Cause’ against the Himachal Pradesh CM. Earlier the high court had asked the CBI to file its status report in the case.

The bench had taken note of allegations of receipt of unaccounted money to the tune of nearly Rs 5 crores by the chief minister and filing of revised Income Tax returns for years 2009-10, 2010-11 and 2011-12 by him.

The revised IT returns showed an increase in agricultural income to the tune of Rs 6.10 crore, the PIL had claimed.

The PIL had alleged that Singh, during his earlier tenure as the Chief Minister and Union Minister, was involved in corruption, money laundering and forgery, charges dismissed as false and baseless by Singh.

He also amassed assets disproportionate to the known sources of income, the PIL alleged and sought a court-monitored “investigation by the CBI and the Income Tax Department” into the charges of money laundering, corruption, disproportionate assets, criminal misconduct against Singh.

The allegations also include cash payment of about Rs 2.28 crore to Singh by an MNC steel firm during 2008 and 2010 when he was the Union Steel Minister.

In order to explain the unaccounted for money, Singh had filed revised income-tax returns for three assessment years, starting 2009 and “an increase in agricultural income to the tune of Rs 6.10 crore” was shown, the PIL alleged.

The PIL had also alleged “quid pro quo” in relation to allotment of hydel power project at Sai Kothi to M/s Venture Energy and Technology Pvt Ltd by Singh as the Chief Minister.

It further alleged that Singh granted several extensions to the company for execution of the hydel project.

“It is clear that unsecured ‘loans’ amounting to Rs 3.90 crore were received by Respondent No. 5 (Singh) and his wife (after Respondent No. 5 became the Chief Minister of Himachal Pradesh) from the director and promoter of M/s Venture Energy, the company that he had favoured by granting an undue extension despite repeated defaults,” it alleged.

Himachal Pradesh Chief Minister Virbhadra Singh

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PM invites Japanese businesses; promises speedy clearances

News4u-News Desk- Holding that the environment of disappointment was over, PM Narendra Modi on Monday invited Japanese businesses to join India’s developmental efforts with a promise of non-discriminatory and speedy clearances and announced setting up of a Special Management Team under PMO to facilitate business from Japan.

Addressing top business leaders of Japan and India in Tokyo on Monday, Modi flagged the recent decisions to liberalise FDI policy in the railways, defence and insurance and said rules and laws are being changed in India which would show results in the near future.

Modi, who has enjoyed immense reputation in Japan as then Gujarat Chief Minister in terms of ensuring the state’s progress, said India wants to emulate Japan in terms of quality, zero defect and delivery systems while carrying out skill development.

He underlined the need for closer and deeper cooperation between Japan and India to champion the cause of global “vikas vaad (development) instead of vistar vaad (expansionism)”.

“We have to decide if we want to have ‘vikas vaad’ or ‘vistar vaad’ which leads to disintegration. Those who follow the path of Buddha and have faith on ‘vikas vaad’, they develop. But we see, those having ideas of the 18th century, engage in encroachments and enter seas (of others),” he said.

While wooing Japanese businesses, Modi cited the latest growth figures of 5.7 percent in the first quarter of this financial year and suggested that the phase of disappointment was over.

“See the work done in 100 days of my government. Earlier, the GDP used to hover around 5-5.4 per cent and led to an environment of disappointment…But in the first quarter of our government, there has been a growth of 5.7 percent. It is a big jump. Now there is renewed hope,” he said.

Targeting the previous Manmohan Singh government, he said the situation was bad for one decade.

He specifically mentioned the UPA government’s ‘Go, No-Go’ policy with regard to environmental clearances and said it would put anybody in a dilemma with regard to taking any decision.

He said India, after 30 years, has a government with full majority, which puts increased responsibility on the government to deliver as 125 crore people of the country have an urge to see the quality of life change.

Inviting Japanese businesses, particularly to infrastructure and clean energy sectors, the Prime Minister asked them to keep in mind the Gujarat experience.

He promised single-window clearances, speedy decision- making which is non-discriminatory in nature.

He said two representatives of Japanese business can be part of an Indian team which decides on business proposals. They can be permanently part of this decision making.

Asserting that good governance is his priority, the Prime Minister said single window-clearances is a significant part of it as he realises the importance of easing business, simplifying procedures, quickening processes and using technology.

“I understand well the importance of coordination between government and industry,” he said while noting that he wants to replicate the experiments he made in Gujarat at the national level.

“I have decided a Japan-plus Special Management Team directly under the PMO to absolutely facilitate proposals from Japan. I also propose that you nominate two people from Japan who would be made part of a team which looks into business proposals and they can be permanently part of our decision- making,” he said.

“The results of initiatives taken in the first 100 days of my government are clearly visible,” he said.

He talked about the bold decision to allow 100 percent FDI in railways and the significant decisions of raising the cap of FDI from 26 percent to 49 percent in defence and insurance.

He said results of these decisions will be visible soon.

“To make the PMO more efficient, we have started Japanese Management System. Training is already underway under the Kaizen system (of management),” Modi said, adding this was to bring the Japanese efficiency, at least in his PMO.

He talked about some of the quick decisions taken after he became the Prime Minister, like clearance to setting up of Japanese bank in Ahmedabad and completion of rare earth materials agreement.

“Being a Gujarati, commerce is in my blood. Businesses do not need concessions. They only need the environment to grow. It is the responsibility of the government and the leader to frame policy so that things start to move. If policy decisions are in place, there can be no discrimination and all get equal treatment,” Modi said.

Pitching for closer cooperation between India and Japan, he said it was fortunate thing to happen that in both countries, governments have been elected with full majority.

Noting that 65 percent of Indian population is below 35 years, Modi said Japan could help India in skill development with focus on quality, zero deficit, efficiency and delivery systems.

He talked about the need for mapping global requirement of skilled people so that India could meet this need.

He also underlined the need for continuous research so that issues related to intellectual property could be addressed.

“Among the 125 crore people of India, there is an urge. They want a change in quality of life,” he said.

He talked about clean energy, saying it is the biggest requirement of India as it does not want to compromise with nature. Japan will be of great help in this regard.

While wooing the Japanese businesses, Modi said they should keep in mind their experience of dealing with him as Gujarat Chief Minister.

“I assure you that there will be the same kind of response and speed,” he said.

Describing industry as partner of his government, he stressed that business is not only for creating bank balance, but much more than that.

He said the whole world accepts that the 21st century will belong to Asia.

“But I have a question. How should the 21st century be? We have to give an answer to this. It will depend on how deep and progressive our relationship (between India and Japan) is.

Relationship between India and Japan should work for promotion of peace and progress to address the needs of the humanity. India and Japan have a big responsibility. It is the responsibility of not only the governments and leaders but also of the businesses to see which way the world goes.”

Viewing business fraternity as a “big driving force” for peace and progress, he said India wants to play a role for benefit of humanity.

He told the gathering that he was accompanied on his visit by a “heavy weight” team of business leaders, who “form an important part of India’s progress. We are partners”.

The business delegation accompanying him includes Gautam Adani, Chairman of Adani Group, Baba Kalyani, CMD of Bharat Force Limited, Sunil Mittal, Chanda Kochhar, Kiran Mazumdar, Adi Godrej and Sunil Munjal.

PM invites Japanese businesses

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Nifty breaches 8,000-mark for first time; Sensex hits new peak

News4u-Business Desk- Continuing their record setting spree, the NSE Nifty breached the 8,000-mark for the first time ever and BSE Sensex logged a new peak of 26,812.69 in opening trade on Monday on the back of positive economic growth data for the April-June quarter.

The National Stock Exchange index Nifty crossed the 8,000-level for the first time and surged to trade at a new peak of 8,018.65, up by 64.30 points, or 0.80 percent. Its previous all-time high was 7,968.25 hit on 25th August.

Besides, a mixed trend in the Asian region also influenced trading sentiments here.

Extending its winning-spree for the seventh session, the 30-share barometer spurted by 174.58 points, or 0.65 percent, to trade at a new life-time high of 26,812.69, surpassing its earlier record of 26,674.38 reached on 28th August.

In the previous six sessions, the gauge has rallied by 323.96 points. All the sectoral indices led by consumer durables, capital goods and banking, were trading in positive zone with gains up to 0.91 percent.

Sentiments turned bullish as buying activity gathered momentum after India’s economic growth rate improved to two-and-half year high of 5.7 percent in the April-June quarter, brokers said.

Larsen & Toubro, Hindalco, SBI, Maruti Suzuki, ICICI Bank, Reliance Ind, HeroMoto, Bharti Airtel, Dr Reddy, Bajaj Auto, Coal India, Tata Motors, TCS, Tata Steel, Infosys and Wipro were among prominent gainers that supported the indices to hit record highs.

Among other Asian markets, Hong Kong’s Hang Seng shed 0.15 percent, while Japan’s Nikkei gained 0.19 percent in early trade on Monday.

Nifty breaches 8,000-mark for first time; Sensex hits new peak

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New appointment for IATA

News4u-Travel Desk- The International Air Transport Association (IATA) announced the appointment of Rodolfo “Rudy” Quevedo as Director of Safety. On 2 September 2014 Quevedo will join IATA’s Safety and Flight Operations team and will be based in Montreal. He will be responsible for Cabin Safety, Safety Management Systems (SMS), and Global Aviation Data Management (GADM).

Quevedo comes to IATA from the Flight Safety Foundation (FSF) where he served as Director, Global Programs, managing FSF’s technical and global initiatives in collaboration with the International Civil Aviation Organization (ICAO). Prior to joining FSF in 2011, he was Director of Safety for North American Airlines, a position he held for four years. He began his aviation career at Eastern Airlines in 1980.

“Rudy brings over three decades of increasingly senior aviation safety management experience and expertise to IATA. Safety is aviation’s top priority. I am happy to have someone of Rudy’s caliber to fill this vital role for the industry,” said Kevin Hiatt, IATA’s Senior Vice President for Safety and Flight Operations.

“I am very proud to join IATA as we celebrate the 100th anniversary of the first commercial flight. Safety has constantly improved over the century. IATA has a unique global perspective and expertise on safety. Through my work, I look forward to helping make our already safe industry even safer,” said Quevedo.Agencies


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