Current Affairs Business & Economy : November 12-20 , 2009

November 13, 2009: 50 new public sector undertakings (PSUs) to be put on the capital markets
Government of India has identified 50 new public sector undertakings (PSUs) to be put on the capital markets for selling 10 per cent of government stakes to raise funds for development programmes. The new PSUs to go on the block include BSNL, SAIL , and Coal India.

November 13, 2009: British Airways and Spanish Carrier Iberia will merge
British Airways and Spanish carrier Iberia will merge in all-share deal to create a combined entity of 15 billion euros ($22 billion) in revenues.As per this agreement , British Airways will hold 55 per cent in the new entity — TopCo — and the rest will go to Iberia. TopCo would be registered in Spain but will have the financial headquarters in London.

November 13, 2009: Govt. share in NTPC
The government is expecting to raise about Rs 8,100 crore (Rs 81 billion) from the five per cent stake sale in power PSU NTPC through a Follow-on Public Offer (FPO). With this government’s holding in NTPC would come down to 84.5 per cent from the current 89.5 per cent.

November 16, 2009:Andhra Pradesh Tops the list of total number of Investments made in Textile Projects
Andhra Pradesh has ranked No.1 with regard to the total number of investments made in textile projects in 2009. This has been revealed by a study done by CII-Southern Reason. Tamil Nadu, Karnataka & Kerala follow. Andhra Pradesh had an estimated investment of Rs 3,379 crore (Rs 33.79 billion), followed by Tamil Nadu at Rs 3,165 crore (Rs 31.65 billion), Karnataka Rs 270 crore (Rs 2.7 billion) and Kerala Rs 106 crore (Rs 1.06 billion).

November 17, 2009: Rs. 3 Lakh Crore for Education Sector in 11th Plan
Govt. of India has plans to allocate Rs 3 lakh crore for the education sector under the 11th Plan adopted by national Develoopment Council. The share of education in the total planned expenditure will accordingly increase from 7.7 per cent to 20 per cent, representing a credible progress towards the target of 6 per cent share of education in GDP.

November 17, 2009: Maharashtra: Property registration to be at flat 1%
Revenue department of maharastra has approved a proposal to levy a flat one per cent charge on property registrations. Earlier there was Rs 30, ceiling. This cap of Rs 30, for the registration fee has been cancelled now. Besides state revenue department has also cancelled a past decision of waiving stamp duty on transactions carried out by stockbrokers from other states as many local brokers evaded stamp duty by listing office addresses outside the state.

November 18, 2009: Transparency International’s 2009 Corruption Perceptions Index, India Ranks 84
India ranks 84th in a list of 180 countries in the latest Transparency International’s 2009 Corruption Perceptions Index which measures domestic and public sector corruption worldwide. India has climbed only 1 place from last year as in 2008 India was ranked 85th in this index. It is notable two years back India and China shared same slot, however China is successful a bit in cutting the corrpution and this year it ranks 79th. Both Pakistan and Bangaldesh are on 139.Somalia is the world’s most corrupt nation, and is on the bottom of the list . The next lesser corrupt nations are Afganistan,Myanmar, Sudan and Iraq

November 19, 2009: Domino’s Pizza India is Jubilant FoodWorks Ltd now
Domino’s Pizza operates 274 outlets across 55 cities in India.Its Indian counterpart Domino’s Pizza India has changed its name to Jubilant FoodWorks Ltd.

November 20, 2009: India’s Richest people:
Reliance Industries chairman Mukesh Ambani is the richest man in India with $32 billion in net worth followed by steel tycoon Lakshmi Mittal and younger brother Anil Ambani as per the Forbes’ annual rich list for the country.This report says that India has 52 dollar-billionaires up from 27 last year.
The Top 25 people are as follows
1 Mukesh Ambani Net Worth $ 32 Billion Dollar
2 Lakshmi Mittal Net Worth $ 30 Billion Dollar
3 Anil Ambani Net Worth $ 17.5 Billion Dollar
4 Azim Premji Net Worth $ 14.9 Billion Dollar
5 Shashi & Ravi Ruia Net Worth $ 13.6 Billion Dollar
6 Kushal Pal Singh Net Worth $ 13.5 Billion Dollar
7 Savitri Jindal Net Worth $ 12 Billion Dollar
8 Sunil Mittal Net Worth $ 8.2 Billion Dollar
9 Kumar Birla Net Worth $ 7.8 Billion Dollar
10 Gautam Adani Net Worth $ 6.4 Billion Dollar
11 Anil Agarwal Net Worth $ 6.3 Billion Dollar
12 Adi Godrej Net Worth $ 5.4 Billion Dollar
13 G.M. Rao Net Worth $ 4.3 Billion Dollar
14 Dilip Shanghvi Net Worth $ 4.1 Billion Dollar
15 Shiv Nadar Net Worth $ 3.7 Billion Dollar
16 Uday Kotak Net Worth $ 3.3 Billion Dollar
17 Malvinder & Shivinder Singh Net Worth $ 3 Billion Dollar
18 Subhash Chandra Net Worth $ 2.7 Billion Dollar
19 Indu Jain Net Worth $ 2.4 Billion Dollar
20 Kalanithi Maran Net Worth $ 2.3 Billion Dollar
21 Anand Burman Net Worth $ 2.25 Billion Dollar
22 Brijmohan Lall Munjal Net Worth $ 2.2 Billion Dollar
23 Sudhir & Samir Mehta Net Worth $ 2.02 Billion Dollar
24 Cyrus Poonawalla Net Worth $ 2 Billion Dollar
25 Ramesh Chandra Net Worth $ 1.95 Billion Dollar

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