CPM forms human chain in Kerala over FTA with ASEAN

CPM chooses a unique way to express its reservation over Free Trade Agreement with ASEAN in Kerala. The party activists formed a 550 km human chain on a rainy Friday evening to register their protest against the pact scheduled to be effective from January, 2010.

The party lamented that free trade pact would have adverse impact over State’s economy in a long run.

A large number of party workers including men, women, children and carder participated in the human chain formed from Kasargod to Thiruvananthapuram for pressurizing the government to scrap FTA in the larger interests of the state.

Prominent protesters included CPM general secretary Prakash Karat, chief minister V S Achuthanandan and state secretary Pinarayi Vijayan asking the government to "dump the FTA into the Arabian sea".

Chief Minister V.S. Achuthanandan alleged that center has been doing step-motherly treatment with the state and despite its efforts to convince the Centre about adverse impact of FTA on state’s agriculture, fishery and traditional industry, the center failed to pay heed to its genuine demands. CPI (M) State secretary Pinarayi Vijayan called to boycott the imported products in Kerala.

The party has had a good opportunity to show strength after licking dust in the recent general elections.


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Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Owner of Energy giant Reliance Industries, Mukesh Ambani has put in an extra 0.68% in EIH Ltd. With this, his total stake in the hotel chain has increased to 14.8%. In a filing to the Bombay Stock Exchange, EIH said that the shares were purchased from the market on Tuesday.

Shares of Reliance surged 0.3% at Rs. 939.3 in proportion to the Mumbai market at 1.26pm, while EIH shares witnessed a 4.5% rise at Rs. 150.2.

On Monday, Reliance was quoted saying that it is widening its horizon and has procured 14.12% stake in EIH for a sum of $217.5 million.

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

On Thursday, Bajaj Auto posted a 55% increase in its sales of vehicles. In the month of August, the Company recorded sales of 3,29,364 vehicles, compared to 2,13,072 units in the same month the year before.

Last month, 2,89,176 two wheelers were sold by Bajaj Auto, a big surge than 1,82,441 units, which were sold in August 2009. The Company’s cumulative sales of two wheelers for the time frame between April and August 2010 increased by 68% and were recorded at 1,397,348 units. The number was high from 833,235 units that were retailed during the same period last year.