finxpress_02oct2011

Page 5

FinXpress

Page 5

News of the Week Delhi Metro earns UN Manipur prices: LPG at praise, ` 47 crore in ` 2000, petrol at ` 140 per litre carbon credits The Delhi Metro has become the world’s first Metro rail & rail based system to earn carbon credits - ` 47 crore annually for the next seven years.

The blockade of two crucial highways by tribes in the north-eastern state of Manipur entered its 63rd day, making prices of essential items shoot through the roof.

people impacted & displaced by projects. In case of non-coal miners, the new law will provide for the payment of an amount equivalent to royalty paid to state government to project-affected persons.

Reliance, Bharti open hypermarkets in Mumbai Mukesh Ambani's Reliance Retail and Sunil Mittal's Bharti Retail, which started their operations from opposite geographies, have opened their first hypermarkets in this city.

The United Nations has hailed the Delhi Metro Rail Corporation for helping reduce pollution levels in Delhi by 6.3 lakh tonnes a year.

Women in Saudi Arabia get voting rights Saudi Arabia will allow women to stand for election & vote, King Abdullah announced on Saturday, in a significant policy shift in the conservative Islamic kingdom.

Women will now be able to run as candidates in the municipal elections & will even have a right to vote. This will be a litmus test for the government’s appetite for social & political reform as Saudi Arabia adheres to a strict version of Islamic Law that enforces the segregation of the sexes.

The blockade began on July 31, when the Sadar Hills District hood Demand Committee, spearheaded by the Kuki tribe, choked National Highways 39 & 53 to press their demand of creating a separate Sadar Hills district.

Mining Bill gets nod, coal firms to share 26% profit with locals The Union cabinet on Thursday approved the new mines Bill which provides for the first time, sharing of profit & royalty with project-affected people. The profit sharing formula is expected to smooth out the process of land acquisition.

While Bharti opened its Easyday Hyper on Thursday, Reliance made an announcement on its Reliance Mart Friday. For Bharti, this is the first hypermarket it ever opened in the country; for Reliance, the 12th. Easyday Hyper offers over 20,000 products that include 475 new items across categories such as jams & spreads, spices, flour, biscuits, namkeens, ethnic sweets, oils etc. Reliance Mart offers over 20,000 products in fashion, apparel, consumer electronics, leisure, dairy, grocery etc.

Al Qaeda’s killed: Yemen The Bill is likely to be tabled in Parliament in the winter session. Under the Bill, coal mining companies will now have to share 26% profit from mines with

Awlaki

Anwar al-Awlaki, a US-born cleric linked to Al- Qaeda’s Yemenbased wing, was killed in an air strike, Yemeni & US officials said, removing a “global terrorist” high on a US wanted list.


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