Sensex dips on New Year day

Mumbai: The benchmark Sensex gave up initial gains in a lacklustre session on Wednesday following the absence of global triggers and ended with a 30-point loss, logging a drop on the opening trading day of the year for the first time since 2006.

Most global stock markets, including those in Asia, Europe and New York, are closed on Wednesday. Reliance Industries, TCS and Infosys shares were the biggest drag on the index, which received some support from Bharti Airtel.

Wipro and Tata Power fell. Three of the 12 BSE sectoral indices fell — IT, technology and oil & gas. The realty sector index notched up a huge jump while the others eked out minor gains.
The S&P BSE Sensex opened higher and climbed to 21,244.35. It traded in a 110-point range before ending at 21,140.48, a loss of 30.20 points or 0.14 per cent. It was the first drop for the index on day one of the year since January 2, 2006, when the Sensex fell 7.8 points.

The broader, 50-share CNX Nifty on the Nati-onal Stock Exchange (NSE) was down 2.35 points to 6,301.65.   

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Centre to ease FDI rules to attract foreign money

New Delhi: Commerce and industry minister Anand Sharma on Wednesday indicated that the government will further liberalise the FDI policy in the new year.

“The bold decisions of the UPA government for liberalising foreign direct investment policy in key sectors such as civil aviation, retail and telecom have resonated with the global community and we have seen results in the last few months. The government will continue its endeavour for liberalising the FDI policy further in the coming weeks to ensure that India retains its leadership position for attra-cting foreign investments,” said the minister.

The ministry is now working to relax FDI norms in construction activities.

Sharma claimed that in 2013, India was rated as the most favoured investment destination globally.

Last year, the government has relaxed foreign direct investment (FDI) norms in several sectors such as telecom, defence, PSU oil refineries, commodity bourses, power exchanges and stock exchanges.

Sharma noted that coming months will see a greater push for development of industrial corridors across the country and work will commence for establishment of the first few cities along the Delhi-Mumbai Industrial Corridor.The minister said that  manufacturing seems to be on the mend and there is visible rebound in industrial activity. “The Indian economy has inherent strengths which give it resilience from external pressures and the series of steps taken by the government both on the fiscal and current acco-unt front have yielded positive results,” Mr Sharma said.

Railways to get FDI shot

New Delhi: The government is likely to allow foreign direct investment (FDI) in high speed trains and other projects, including development of rail lines between project sites and existing network.

“The commerce and industry ministry has sent the Cabinet note on the matter and a decision is likely to be taken this this month only,” a government official said.

Besides, proposing 100 per cent FDI through automatic route in the cash-starved railway sector, the Department of Industrial Policy and Promotion (DIPP) has also proposed to de-license and de-reserve few areas of the sector.
However, FDI will not be allowed in train operations and safety.

At present, there is a complete ban on any kind of foreign direct investment (FDI) in the railways sector except mass rapid transport systems.

According to the proposal, foreign investment would also be allowed in “sub-urban corridor, high speed train systems and dedicated freight line projects implemented in PPP mode,” the official said. It has suggested widening the definition of ‘infrastructure’ by including railway line and railway sidings.

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Hyundai integrating next-gen cars with Google Glass

Washington: South Korean carmaker Hyundai will be launching its new Genesis sedan integrate d with Google Glass, which will enable the users to control basic functions of their car straight from their headset.

Hyundai's next-generation vehicles will be able to connect to Google Glass using an app which will help users to find their vehicle, automatically start it, send addresses to its navigation system, and lock and unlock its doors, the Verge reports.

Hyundai will also use push notifications to alert Glass wearers when the vehicle is due for maintenance, the report added.

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Hyundai sales up 2.58 pc in December

New Delhi: Hyundai Motor India Ltd today reported a 2.58 per cent increase in its total sales in December 2013 at 49,069 units as against 47,833 units in the same month of previous year. The company's domestic sales were up 6.24 per cent at 28,345 units during the month from 26,697 units in December 2012, Hyundai Motor India Ltd (HMIL) said in a statement.

Exports during the month were down 1.94 per cent to 20,724 units from 21,136 units in the same month previous year, it added. Commenting on the sales performance, HMIL Senior Vice-President, Sales and Marketing, Rakesh Srivastava, said: "Year 2013 was very challenging and rewarding...Manufacturing operated at 99 per cent capacity utilisation and had the fastest five million roll-out in India."

In 2014, Hyundai will launch many new products and new initiatives to build further on this positive momentum, he added. 

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Ship involved in Antarctic rescue faces trouble

Canberra: An Australian icebreaker carrying 52 passengers who were retrieved from an icebound ship in the Antarctic was told to halt its journey home today after concerns that a Chinese vessel involved in the dramatic rescue may also become stuck in the heavy sea ice.

The icebreaker Aurora Australis had been slowly cracking through thick ice toward open water after a Chinese helicopter yesterday plucked the passengers from their stranded Russian research ship and carried them to the Aurora.

But this afternoon, the crew of a Chinese icebreaker that had provided the helicopter said they were worried about their own ship's ability to move through the ice.

The Aurora which was carrying the passengers to the Australian island state of Tasmania was told to stay in the area in case the Chinese icebreaker Snow Dragon needs help, according to the Australian Maritime Safety Authority's Rescue Coordination Centre, which oversaw the rescue.

The Snow Dragon, which is at the edge of the ice pack surrounding the Russian vessel, will attempt to push through the ice to open water early Saturday, when tidal conditions are most favourable.

The Aurora is waiting around 11 kilometres north of the Snow Dragon, said Lisa Martin, spokeswoman for the marine authority.

Authorities have not said what the next step would be if the Snow Dragon became stuck, but it is possible that the Aurora will utilise its icebreaking capabilities to assist the Chinese vessel.

The maritime authority said the decision to place the Aurora on standby was a precaution and noted there was no danger to anyone on board the Snow Dragon.

But it was yet another wrinkle in the highly complex rescue operation of those on board the Russian ship MV Akademik Shokalskiy, which got stuck in the ice on Christmas Eve.

A spot of clear weather yesterday finally allowed the multinational rescue operation after blinding snow, strong winds and thick sea ice forced rescuers to turn back time and again.

The twin-rotor helicopter, which is based on the Snow Dragon, took seven hours to carry the scientists and tourists in groups of 12 from the Russian ship to the Aurora.

Earlier, the passengers had linked arms and stomped out a landing site in the snow next to the Russian ship for the helicopter. 

Russian research ship MV Akademik Shokalskiy was in Antarctic ice, 1,500 nautical miles south of Hobart, Australia, since Christmas Eve. The Australian authorities expressed relief after 52 passengers were safely evacuated by helicopter the stranded ship. Seen here - Trapped passengers on the icebound Russian research ship are rescued by a Chinese helicopter. Officials tasked with freeing the scientific expedition on the Akademik Shokalskiy succeeded in flying them out on Thursday in an on-off rescue operation. Seen here - Passengers from the Russian ship MV Akademik Shokalskiy trapped in the ice 1,500 nautical miles south of Hobart, Australia, walk around the ice. A helicopter from Chinese icebreaker Xue Long used a makeshift landing pad next to the marooned ship and ferried the scientists, tourists and journalists to an Australian government supply vessel, the Aurora Australis after three icebreakers failed to reach the paralyzed vessel. Seen here - Passengers from the trapped Russian vessel are preparing to board the Chinese helicopter Xueying 12 in the Antarctic.But it emerged later on Thursday that the Chinese ship, which has not moved much for several days, may itself be trapped by thick ice.Australian Maritime Safety Authority said the Chinese ship would attempt to manoeuvre through the ice when tidal conditions are most suitable, adding there was no immediate danger to those onboard. Seen here - Ben Maddison and Ben Fisk from the Russian ship MV Akademik Shokalskiy work to place a wind indicator atop an ice feature near the trapped ship.The rescue mission has been beset by extreme conditions from the start, with the Xue Long and Aurora Australis both unable to break through the ice to free to stranded Russian ship, despite several attempts. Seen here - Russian ship MV Akademik Shokalskiy is trapped in thick Antarctic ice.Rain, snow and wind had also delayed the helicopter flights to the vessel ice-bound 100 nautical miles east of the French base Dumont d'Urville. Seen here - Passengers from the Russian ship MV Akademik Shokalskiy link arms and stamp out a helicopter landing site on the ice near the trapped ship'The protracted nature of operations in Antarctica and the difficulty of getting good weather windows, and getting the right ice conditions, really make life very difficult' said John Young, general manager of the AMSA. The Australian authorities have raised concern for the Chinese rescue vessel Xue Long caught in heavy ice. Passengers on the stranded Russia ship were transferred to the Aurora Australis, the Australian Antarctic Division's supply ship and had been heading slowly to Casey station. Seen here - People gather on the ice next the Russian ship MV Akademik Shokalskiy that is trapped in thick Antarctic ice.Passengers trapped for more than a week on the icebound Russian research ship MV Akademik Shokalskiy are rescued by a Chinese helicopter on Thursday.The first group of passengers who were aboard the trapped Russian ship MV Akademik Shokalskiy arrive at a safe surface off the Antarctic.The passengers were transferred, using the Chinese icebreaker Xue Long's helicopter, from the Russian ship to an ice floe near the Aurora Australis over four flights across about 14 nautical miles on Thursday.Barbara Tucker, a passenger aboard the stranded ship MV Akademik Shokalskiy, watches as an adelie penguin passes by, off east Antarctica, on December 29, 2013.Passengers on the Akademik Shokalskiy posing before the trapped ship in heavy sea ice.

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TCS to set up world’s largest corporate learning centre in Kerala

TCS to set up world’s largest corporate learning centre in Thiruvananthapuram, Kerala.

New Delhi: Country’s largest software services firm Tata Consultancy Services (TCS) today said it will set up the world’s largest corporate learning and development centre in Thiruvananthapuram with a total capacity to train 50,000 professionals every year.

Prime Minister Manmohan Singh laid the foundation stone for the facility.

The learning facility will be built over an area of 6.1 million square feet and will have the capacity to train 15,000 professionals at one time and 50,000 professionals annually, TCS said in a statement.

Located on a 97-acre property in the Technopark area of the city, the campus will also have residential accommodation for professionals and faculty at the centre, it added.

"TCS has been present in Thiruvananthapuram since 1997 and since then it has been the hub of our global learning and development efforts," TCS Chief Executive Officer and Managing Director N Chandrasekaran said.

The TCS Learning Campus will be the new benchmark for corporate learning worldwide and this iconic facility will produce world class professionals to meet the future needs of the IT industry, he added.

The project will provide direct employment to over 2,000 skilled and unskilled local people for a period of 4 years.

An integral part of the project will be the skill development programmes run by TCS to upgrade the skills of local youth and facilitate opportunities to work in the construction project, through contractors.

TCS employs over 2,85,000 professionals worldwide and plans to hire 50,000 professionals in 2013-14. It spends over 15 million hours on learning and development programmes for its employees every year.

Over the last 5 years till date, the company has trained over 1.43 lakh IT professionals in India and abroad.

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Police register FIR against 3-yr-old in Pakistan for 'attacking, robbing' man

Picture for representation only - AFP/File photo

Lahore: Police have registered an FIR against a three-year-old boy and his mother for allegedly attacking and looting a man in Multan district of Pakistan's Punjab province.

Mohammad Farooq said that Farrukh Bibi and her son Saud attacked him with a dagger and snatched his cell phone and Rs 22,000 in cash.

A case has been registered based on Farooq's complaint.

Farrukh Bibi, through her counsel, on Thursday filed a bail application informing the court that the FIR was fake as her son - Saud - was merely three years old.

"How a woman along with her three-year-old son could attack a man," her counsel argued in the sessions court (Multan). Police registered the case after the complainant bribed them, she alleged.

Additional District Sessions Judge Shahbaz Ali Paracha granted bail to her and ordered to expunge the name of the toddler from the case. He summoned the police officials concerned for January 16. 

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