Weekly News5:Weekly News5:20 Sept-26 Sept, 201020 Sept-26 Sept, 2010

Compiled by:Compiled by:

Taranpreet KaurTaranpreet Kaur

Mba-2(A)Mba-2(A)

Mahindra Satyam's delisting Mahindra Satyam's delisting from NYSE unlikely to helpfrom NYSE unlikely to help

Mahindra Satyam, formerly Satyam Computer Mahindra Satyam, formerly Satyam Computer Services, will delist from the New York Stock Services, will delist from the New York Stock Exchange, or NYSE, after realising that it cannot Exchange, or NYSE, after realising that it cannot meet the October 15 deadline for preparing financial meet the October 15 deadline for preparing financial statements under US accounting standards. statements under US accounting standards.

The news triggered a massive 26% fall in its ADRs The news triggered a massive 26% fall in its ADRs on Friday.on Friday.

The domestic shares fell 6%. The domestic shares fell 6%.

India bribed 72 nations to get India bribed 72 nations to get Delhi CWG: ReportDelhi CWG: Report

India bribed 72 Commonwealth countries $100,000 India bribed 72 Commonwealth countries $100,000 each to get the hosting rights for the scandal-hit 19th each to get the hosting rights for the scandal-hit 19th edition of the Games which will start in Delhi from edition of the Games which will start in Delhi from October 3-14, a media report claimed.October 3-14, a media report claimed.

The report also said that Australia received a The report also said that Australia received a kickback of $125,000 from India. kickback of $125,000 from India.

Tata Motors to launch Aria within Tata Motors to launch Aria within a month, may price it Rs 10 lakha month, may price it Rs 10 lakh

Tata Motors will launch Aria a cross-over Tata Motors will launch Aria a cross-over between a multi-utility and sports utility between a multi-utility and sports utility vehicle within a month. Unveiled at the Auto vehicle within a month. Unveiled at the Auto Expo and billed as a four-wheeler built for Expo and billed as a four-wheeler built for Indians by Indian engineers.Indians by Indian engineers.

Aria will compete with Toyota Innova and Aria will compete with Toyota Innova and M&M's Xylo. M&M's Xylo.

Sources say that the car is expected to be Sources say that the car is expected to be priced at about Rs 10 lakhpriced at about Rs 10 lakh. .

Security agencies give thumbs Security agencies give thumbs up to solutions offered by RIMup to solutions offered by RIM

Security agencies have given a thumbs up to solutions Security agencies have given a thumbs up to solutions offered by BlackBerry makers, Research In Motion, offered by BlackBerry makers, Research In Motion, to track its messenger services , but is still sorting out to track its messenger services , but is still sorting out some technical issues in gaining access to corporate some technical issues in gaining access to corporate e-mail .e-mail .

However, the official indicated that opening up However, the official indicated that opening up enterprise mail was proving tricky and would require enterprise mail was proving tricky and would require more extensive discussions between technical experts more extensive discussions between technical experts from RIM and security agencies. from RIM and security agencies.

Arvind Textile to set up facility in Arvind Textile to set up facility in Bangladesh; invest $66 mnBangladesh; invest $66 mn

Indian firm Arvind Mills will invest USD 66 million Indian firm Arvind Mills will invest USD 66 million to set up a textile and garment manufacturing unit at to set up a textile and garment manufacturing unit at the Comilla Export Processing Zone in Bangladesh. the Comilla Export Processing Zone in Bangladesh.

The unit will create employment opportunity for The unit will create employment opportunity for 3,170 persons, including 120 foreign nationals. 3,170 persons, including 120 foreign nationals.

An agreement to this effect was signed between the An agreement to this effect was signed between the Bangladesh Export Processing Zones Authority and Bangladesh Export Processing Zones Authority and the Arvind Textile Mills Limited in BEPZA Complex the Arvind Textile Mills Limited in BEPZA Complex in the Dhaka. in the Dhaka.

Pranab launches pension Pranab launches pension scheme for unorganised sectorscheme for unorganised sector

Union Finance Minister Pranab Mukherjee launched Union Finance Minister Pranab Mukherjee launched a new pension scheme for workers in the unorganised a new pension scheme for workers in the unorganised sector who do not have access to the social security sector who do not have access to the social security net. net.

Under the scheme named 'Swabalamban', the Under the scheme named 'Swabalamban', the subscribers would get Rs 1,000 from the government subscribers would get Rs 1,000 from the government each year for a subscription amount of Rs 12,000 per each year for a subscription amount of Rs 12,000 per year. year.

The particular scheme would remain valid for this The particular scheme would remain valid for this financial year and for the next three consecutive financial year and for the next three consecutive fiscals. fiscals.