-IANS The government is considering creating a corpus fund of Rs.1,000 crore ($18.7 million) in the current fiscal that would encourage banks to give housing loans in 'significant volumes' to the urban poor, Prime Minister Manmohan Singh said Tuesday. Addressing a conference on the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) here, Manmohan Singh said the corpus of Rs.1,000 would be set ASIde to create a credit risk guarantee fund that could...
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As losses mount, Areva goes in for huge job cuts by Vaiju Naravane
French nuclear giant Areva, which is planning to sell India six masssive1650 MWe EPR nuclear reactors for the Jaitapur site in Maharashtra, is facing serious financial difficulties with net losses in 2011 placed at well over €1 billion. Areva's CEO, Luc Oursel, announced drastic job cutbacks and the sale of over €2 billion worth of assets, essentially in the company's uranium mines sector, to offset these losses. Trading in the company's...
More »Durban climate talks end, new global climate change regime from 2020 by Nitin Sethi
The Durban climate talks finally ended more than 36 hours after the scheduled closure on Sunday early morning. The world agreed to a new global climate change regime that will come in to force starting 2020. India took over centre-stage as a force to reckon with, regained its position as the leader and moral voice of the developing world as the EU and the US were forced to address its...
More »High Court stays clearance for DB power coal mine in Chhattisgarh by Aman Sethi
The Chhattisgarh High Court has directed that no further action be taken towards granting environmental clearance to a coal mine operated by DB Power Ltd, a subsidiary of DB Corp, one of India's largest media corporations. The respondents have been given three weeks to reply. A writ petition filed in the court accuses the company of adopting “deliberate, illegal and manipulative” measures to influence the outcome of a public hearing held...
More »Team Anna’s new call: Make laws in streets by Vandita Mishra
From the beginning of the proceedings today, speakers from Team Anna appeared to be pressing home one point above all: they had returned to Jantar Mantar with an agenda larger than the (Jan) Lokpal. The Bill must be passed this winter session, or else there would be a “jail bharo aandolan”, said Anna. “Not a single jail will remain empty,” he promised. But the larger goal was another law, or...
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