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Red flag over job losses
However, the survey says the Eleventh Plan period will create 58 mn new jobs

SBM net drops 22.6% in Q3
Despite a 55.44 per cent rise in its net interest income, the Bangalore-based State Bank of Mysore (SBM), an associate bank of SBI, has posted a 22.6 per cent drop in its net profit to Rs 141.31 crore for the third quarter ended December 31, 2009 compared to the corresponding quarter last year. Its total income for the quarter stood at Rs 995.07 crore, a marginal drop of 5.3 per cent compared to the same quarter a year ago.

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Skoda sales up 52% in December
Czech luxury car maker Skoda Auto today reported a 52.05 per cent growth in its sales during December last year at 1,113 units.
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GE Hitachi in talks with BHEL, Bharat Forge for nuke equipment

Hoping to get the US government"s nod to go ahead with its business in India, GE Hitachi has begun talks with domestic companies like BHEL, Bharat Forge and Larsen & Toubro for making atomic power equipment. - BHEL to supply equipment to APGENCO project - Nine of top-10 firms add Rs 49,000 cr in m-cap - Alstom to have 33.3% stake in NPCIL-BHEL venture - BHEL drops Singur idea - BHEL may not set up plant at Singur - Bengal to take back Singur land for power project with BHEL "We are talking to several vendors -- BHEL, Bharat Forge and L&T for manufacturing castings and forgings for the nuclear power plants," GE Hitachi Senior Vice-President (Nuclear Plant Projects) Daniel L.Roderick told reporters here. Larsen & Toubro (L&T) has already signed an agreement with Nuclear Power Corporation of India (NPCIL) for manufacturing nuke power equipment. "We want a reliable component supplier, we want them (L&T-NPCIL) to make forgings for us...As we are the technology provider," Roderick said. "If we are able to receive approvals from the US government next year, the first unit can only be commissioned by 2018-19 and after that every two years new units would follow," he said. The company would manufacture 1,500 Mw and above units for the nuclear power projetcts in India. GE Hitachi hopes to feed more than half of its clientele by manufacturing the castings and forgings in India. "50-70 per cent of the equipment can be made here for both India and international market," he said adding that manufacturing here can save as much as 50 per cent cost.


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