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Renault to launch 2 models in India by mid-2011
French car maker giant Renault today said it will launch two models in India in 2011 that will be rolled out from the company"s upcoming Chennai plant.

Massive power cut hits Kolkata
Kolkata came to standstill on the eve Durga Puja as major breakdown in CESC system caused massive power cut for several hours. A sudden breakdown of electricity supply to the city lasting for hours gave a creepy feeling to the people on the eve of Durga Puja. The breakdown in power supply affected Metro Rail, city"s major hospitals, the High Court, the state"s administrative headquarters and the commercial hubs. The CESC which is responsible for maintaining electric supply to the city, had a major breakdown in its system, causing a shortfall of 635 mw. According to CESC, one of its 132 KV substation line snapped in the morning causing the breakdown. As a result, two of its units in Budge Budge power station and one in Southern Generating Station went out of the system. To save other power stations from tripping, the CESC had to isolate other units from the grid.

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Japan tops China in buying US Treasury
Japanese investors who lived through a decade of deflation and recessions say US Treasuries are a bargain even with yields at about the lowest levels since at least the 1960s.
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Controversial sugarcane law gets Parliament nod

Parliament today passed a bill that introduces new sugarcane price regime, after government allayed concerns of Opposition that the states will not be required to pay the difference between the Central and the State Advised Price to farmers. - BJP slams Centre"s policy on sugarcane - Oil firms cut ATF prices by 1.6% - Chodavaram mill expects drop in cane crushing - Cardamom prices double on high global demand - Gold slides on weak global cues - Steel prices to rise on costlier ore The Rajya Sabha passed the Essential Commodities (Amendment and Validation) Bill which had already been approved by the Lok Sabha last week. Instead of Statutory Minimum Price (SMP) the Central benchmark would be the Fair and Remunerative Price (FRP). The Bill replaces the October 21 Ordinance which had led to protests among sugarcane farmers and political parties against obligation sought to be put on the state governments if they chose to pay higher price than FRP. "There were strong reactions in northern India and Tamil Nadu. We said uniform price throughout the country would not be acceptable. The government accepted the demand and the state governments are free to decide SAP without paying the differential with FRP," Food and Agriculture Minister Sharad Pawar said, winding up the debate on the bill. The Opposition including BJP, SP, BSP and RLD had stalled Parliament proceedings on the first two days of the winter session on November 19 and 20, protesting the Sugarcane Control Order. The RLD and Bharatiya Kisan Union also held a big rally in the capital against the measure. Even the DMK, a key ally of the UPA, had opposed the order.


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