Mini Updates : Current Affairs : Business & Economy

August 13, 2009: Urban horticulture scheme of Indian Overseas Bank
Indian Overseas Bank has introduced a new scheme IOB-Urban Horticulture.
What is this scheme about?
A loan can be availed (minimum loan amount is Rs. 10,000 and it may go up to Rs. 10 lakh) for raising kitchen garden, roof garden, flower garden and small orchards for urbanites.

August 20, 2009: Investment confidence index launched by JP Morgan
JP Morgan Asset Management India in association with ValueNotes has launched its first investment confidence index (ICI) which has the key objective of quantify confidence in the investment environment among investors and advisors. It will be released quarterly.

August 21, 2009: Expansion of Rajmahal Coalfields approved by Government
Rajmahal Coalfields are NTPC facilities in Jharkhand. Recently Government has approved the Rs. 155 crore expansion to increase capacity.

August 21, 2009: April June GDP Growth 6.1 %.
India's economy has grown 6.1% in the first quarter of current fiscal. Last quarter growth rate was 5.8%. The figures were released by Central Statistical Organisation CSO. Manufacturing was down 3.4 % and agriculture 2.4 %.

September 9, 2009: Center of Excellence at Chennai by Microsoft, TCS
To help the customer demystify virtualisation and migration from physical to virtual environment, Microsoft India and Tata Consultancy Services have announced an alliance to launch Microsoft-TCS virtualisation Centre of Excellence in Chennai.

September 9, 2009: McDonald lost battle in Malaysia over Trade mark Mc.
Malaysia's Federal court has ruled against an application filed by McDonald which was aimed to prevent a local Malaysian Indian Restaurant to use trademark Mc.

September 9, 2009: ONGC Visdesh & Mittal Investment to sign agreement with Kazkhastan Govt

Cabinet Committee on Economic Affairs (CCEA) has recently given a green signal to the public sector ONGC & Mittal Investment Sarl of LN. Mittal, to sign an agreement with the Kazakhstan Government.

This agreement is for investment of $400 million in the Satpayev oil field in the Caspian Sea.This will be a joint venture between ONGC & Mittal Investment Sarl which shall take 25% stake in the field.