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Indian firms re-route Net traffic after Taiwanese earthquake
Indian submarine cable companies, including Tata Communications and Reliance Communications, re-routed at least 300-400 Gigabytes of internet traffic over both own and consortium cable networks between the Chinese mainland, Asia and Europe following the recent Taiwanese earthquake that disrupted communications across Asia and the Chinese mainland.

F&O Outlook: Nifty to hit new high
The FIIs long build-up in the Nifty futures and short covering in stocks futures during the week ended November 13 augur well for the market. The Nifty expected to hit a new high in the coming week if it crosses a crucial resistance at 5,060. On the down side the 4,940 is healthy support and below that 4,860 is the crucial support level. The Nifty rose over four per cent during the week largely due to short covering from the foreign investors in Nifty futures and stocks futures.

News of the day

Ajai Shukla: No thanks, you're blacklisted!
Over this last decade, the Ministry of Defence (MoD) has “blacklisted” so many foreign arms corporations that the military’s modernisation plan has virtually stalled. The MoD “blacklist” is not a formal document; an arms vendor is mostly embargoed unofficially, when senior bureaucrats agree that it is playing dirty.
Small Business

Composite silk unit in near Guwahati

Assam, which produces three types of indigenous wild silks – Muga, Pat and Eri, today got a composite silk unit at Chaygaon Industrial Growth Centre, near Guwahati. The composite unit, or Eri Spun Silk Mill, came up with an investment of Rs. 5.5 crore, which includes infrastructure for spun silk mill, machineries, looms etc. The unit is expected to go a long way in adding value to the silk industry of Assam. The unit was inaugurated by union minister of textiles, Dayanidhi Maran. For the establishment of the unit, along with additional facilities like weaving processing and dyeing etc., the Central Silk Board (CSB), under the ministry of textiles, and the state government of Assam had provided a subsidy of Rs. 155.30 lakh and Rs. 48.10 lakh respectively to the promoter of the unit, Fabric Plus Pvt. Ltd., for installation of machineries, equipments etc. The promoter also contributed an amount of Rs. 22.60 lakh. - Self-certified syndicate bankers to get fee for IPO applications - Proposed merger of Federal Bank, CSB gathers momentum - Federal Bank, Catholic Syrian close to share swap deal - Federal Bank, CSB merger may get delayed - Church plans to protest Federal Bank-CSB merger The total out put from the mill is likely to be around 60 MTs of eri silk yarn and around 15 MTs of noil yarn per annum. The mill is likely to support around 4000 eri farmers in the state by providing appropriate market linkages. In Assam, Eri silk cultivation is an income generating activity which is practiced in almost across the state. The number of farmers and reelers and spinners involved in the this activity are about 2 lakh and the output of Eri silk in Assam is around 750 MT per annum which accounts about 52 per cent of the total Eri raw silk production in the country. But unfortunately till now, due to unavailability of suitable conversion devises like Eri spun silk mill in the state, almost 80 per cent of the Eri cocoons produced in the Assam were sourced out of the state by middlemen or traders, thus depriving the state and the Eri farmers the benefit of value addition.


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