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Nepals Coke unit
bombed
Kathmandu:
Maoist rebels bombed a Coca Cola factory on the outskirts of
Kathmandu early this morning. Coco Cola had invested nearly $26.31
million in the factory.
The explosion caused
heavy damage to the bottle washing plant.
The Maoist rebels left the guards unharmed.
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Delhi
HC wants minimum
wages hiked
New Delhi:
The Delhi High Court has directed the Centre to take necessary
steps to hike the ceiling on minimum wages of Rs 1,600 per month
for workers in the country.
Giving eight months time to the government to raise the ceiling, a
division bench comprising Justice B A Khan and Justice Sharda
Agarwal said, "Centre and all its concerned functionaries
should expedite the action in the matter."
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China
to start gold exchange
Beijing:
China has started mock operation of its first gold exchange in
Shanghai which will be officially launched in early January, 2002.
For years, gold trading has been strictly controlled by the
government, with the People's Bank of China monopolising the
purchase and allocation of gold.
The gold exchange, which will mainly target gold producers and
wholesalers, is expected to introduce market prices to the
country's gold trade, with the central bank gradually withdrawing
from its monopoly position.
The exchange currently has 108 members, mainly gold mining
companies, smelteries, jewellery companies, mints, foreign traders
and commercial banks.
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Enron
faces bankruptcy
Mumbai: Enron
Corporation is on the verge of bankruptcy after its archrival
Dynegy called off a nine billion dollar merger plan.
The downfall, which is one of the biggest in US business history,
comes after two agencies, Standard & Poor's and Moody's
downgraded Enron's credit rating to junk status.
Dynegy had agreed to buy
Enron on November 9 for about $23 billion. But when Enron's stock
plummeted following the deal, Dynegy demanded a renegotiation of
terms to lower the price.
Enron now faces over 7 billion dollars in debts, due during the
next year. And it has no lenders in sight.
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India
to export wheat to South Korea
New Delhi:
India will export 80,000 tonnes of wheat to South Korea next year.
Exports this month are being projected at anywhere between 1.0 to
1.5 lakh tonnes and the figure is a little over 16 lakhs for the
current fiscal.
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