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The G-20 on Friday announced that International Monetary Fund (IMF) would review policies of the world’s seven largest economies, including India and China , with the objective of rectifying flaws before they imperil growth. The US, Japan, Germany, France and Britain are the other five countries that influence the global economy.
India’s foreign exchange reserves rose by $2.71 billion to $308.2 billion on the back of an increase in foreign currency assets. The reserves had stood at $305.5-billion the week before. Foreign currency assets, the biggest component of the foreign reserves, went up by $2.7 billion to $277 billion for the week-ended April 8, the Reserve Bank said in its weekly data released this evening.
Real estate prices in the metropolis, one of the most expensive realty markets in the country, are expected to remain stable in the near future, a top industry official said today. “The real estate prices may remain stable as the new supply is not going to come in the market and construction costs have gone up substantially,” Maharashtra Chamber of Housing Industry (MCHI) President Sunil Mantri told reporters on the sidelines of a property exhibition here.
Global software major SAP plans to develop and localise its enterprise applications in Hindi, the most widely-spoken Indian language, to enable its domestic customers leverage technology for speedy delivery, the company said Wednesday. ‘The Hindi version of various applications such as human capital management, employee self-service, enterprise resource planning (ERP) financials and logistics solutions will be made available soon to Indian customers familiar with the popular language,’ SAP globalisation services vice-president Yueting Zhou said in a statement here.
In a first-of- its-kind step, Brazil, Russia, India, China and South Africa (BRICS) will be signing an agreement on Thursday under which they would be able to give credit and grants to each other in their own currency instead of dollars. The Summit, to be attended by Prime Minister Manmohan Singh in Chinese resort city of Sanya, will discuss a whole range of issues related to global financial and economic situation besides matters related to energy security, food security and challenges posed by terrorism.
Defing an oil ministry directive, Reliance Industries has refused to sell natural gas to power and fertiliser plants by cutting supplies to non priority sectors like steel and refineries saying the move has financial and legal implications. With output from Reliance’s eastern offshore KG-D6 fields dropping by over 20 per cent, a worried oil ministry had asked Reliance to first meet all the contracted demand of fertiliser units, plants extracting LPG from natural gas, power firms and city gas distributing companies selling CNG to automobiles.
Top corporate executives – Swan Telecom director Vinod Goenka, Unitech Wireless (Tamil Nadu) Ltd managing director Sanjay Chandra, and three top officials of Reliance ADA Group Gautam Doshi, Surrendra Pipara and Hari Nair – appeared before the special court for the first time and sought bail on the ground that they were not arrested during the investigation.
State-run Corporation Bank today launched a mobile wallet which makes it possible to make purchases using a mobile handset. Under the scheme, christened ‘ypaycash’, an account-holder can pay for purchases through the mobile handset, provided the merchant has the system installed. The service, which comes free for Corporation Bank customers, can be availed by asking the Bank to transfer up to Rs 5,000 from a savings or current account to the mobile wallet.
Indians work for 8.1 hours every day, more than the average figure for the entire developed world and individual countries like the UK, Australia, France, Italy and Germany. However, the average work-hour for Indians is less than the same for people in countries like the US, China and Japan, while those in Mexico are the busiest in the world, a new global survey has found.
Citation – REVANASIDDAPPA & ANOTHER VERSUS MALLIKARJUN & OTHERS (SC) – Section 16(3) of the Hindu Marriage Act as amended, does not impose any restriction on the property right of Illegitimate Child except limiting it to the property of their parents. Therefore, such children will have a right to whatever becomes the property of their parents whether self acquired or ancestral.
