Current Affairs Business & Economy : October 22-26, 2009

October 22, 2009: China’s economy grows 8.9% in Q3
The Chinese economy expanded at a rapid rate of 8.9 per cent in the third quarter of 2009 as compared to the year-ago period, mainly boosted by increased infrastructure investment and stimulus measures.

October 22, 2009: Microsoft launched Windows 7
Microsoft has launched Windows 7 operating system which promises significant improvement in productivity levels, enhanced security, reduced risk and manageability costs. Microsoft has launched Windows 7 in six editions, targeted at specific user groups and would be available on desktops, laptops and netbooks across the varied price range. The six editions launched are: Windows 7 Home Premium (for home consumers), Windows 7 Professional (for small and medium businesses), Windows 7 Starter, Windows 7 Home Basic (for emerging markets), Windows 7 Enterprise and Windows 7 Ultimate.

October 22, 2009: HAL will produce Flaperons of Boeing 777.
Hindustan Aeronautics Ltd will produce and assemble ‘flaperons’ of Boeing-777s which are used for take-offs, landings and manoeuvering of these sophisticated airplanes. An agreement to this regard was signed between HAL and Boeing Company for the production of flaperons for use on Boeing’s 777 series commercial jetliner.

October 22, 2009 : 6 Indian Companies among Global BPO hotspots:
Seven Chinese cities – Shanghai, Beijing, Shenzhen, Dalian, Guangzhou, Chengdu and Tianjin – and six Indian cities – Chandigarh, Kolkata, Coimbatore, Jaipur, Bhubaneswar, Thiruvananthapuram – make it to the list of next 60 outsourcing destinations. The ‘Next 10 Outsourcing Destinations’ is dominated by China’s Shanghai, Beijing and Shenzhen, Vietnam’s Ho Chi Minh City and Hanoi, Poland’s Krakow, Argentina’s Buenos Aires, Egypt’s Cairo and Brazil’s Sao Paulo

October 23, 2009 : CDMA phones without unique numbers banned
Government of India has banned import of CDMA mobile phones that lack unique electronic serial number and mobile equipment identifier, which help authorities identify and track users. In a notification of DGFT, Import of ‘CDMA mobile phones’ without Electronic Serial Number (ESN)/Mobile Equipment Identifier (MEID) or with all zeroes as ESN/MEID is prohibited with immediate effect.

October 23, 2009: Infosys among Asia’s most admired knowledge firms
Infosys Technologies Ltd has been recognised amongst the top 16 Asian companies to be listed in the prestigious Most Admired Knowledge Enterprises (MAKE) study, 2009. Infosys has won the Asian MAKE award six times in the past and is one of the five Indian companies amongst the leading Asian corporations to have won the award this year.

October 23, 2009: Direct Tax Code from 2011-12
Giving the roadmap for the direct taxes code that will replace the Income Tax Act of 1961, Finance Minister Pranab Mukherjee said that it will be implemented from 2011 after addressing all concerns relating to controversial proposals like taxation of retirement benefits, weeding out incentives for housing sector and changes in the minimum alternate tax. The government plans to implement the direct taxes code from 2011-12

October 23, 2009: Plans of BSNL & MTNL Overseas Business
Not content with its joint bid for Kuwait-listed Zain Telecom, state-owned Bharat Sanchar Nigam Ltd and Mahangar Telephone Nigam Ltd are planning to set up a special purpose vehicle with Delhi-based Vavasi group to participate in a joint venture for Russian and western European telecom operations.

October 26, 2009: M V Aida Cara is the first cruise vessel to make use of Cochin as a turnaround port
On October 25 M V AIDA CARA , a luxury cruise vessle has docked at Cochin Port . This has become the first cruise vessel to make use of Cochin as a turnaround port. Kerala Tourism accorded the traditional welcome to the guests by applying ‘thilakam’ with the accompaniment of ‘panchavadyam’, ‘thalappoli’, ‘theyam’ and ‘Kathakali’. The tourists enjoyed Fort Kochi and Mattancherry in ‘tuk-tuk’ – the autorikshaw ride which is very popular among the guests.

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