Govt fights price rise by releasing wheat in open market
New Delhi: The Government of India has decided would release 365,000 tonnes of the grain to states for sale in open markets in February and March to curb prices.

The food ministry said the wheat would be released by the state-run Food Corp. of India at 986.06 rupees per 100 kg, and would be sold to consumers.

The ministry said the institutions should distribute the wheat to consumers on a no profit, no loss basis, and only reasonable handling and transportation cost should be added to the price.

If states want to distribute it in the form of wheat flour, they could add a reasonable milling charge, it said.

60,000 tonne would be given for sale in Maharashtra and Karnataka, while 30,000 tonne would be released in Delhi, and 25,000 tonne in Kerala. More wheat will be released in to other states.

India has forecast production of 72.5 million tonne of wheat in 2007 against output of 69.4 million tonne in 2006, when it was forced to import 5.5 million tonne of the grain.

Wheat at Delhi markets was being sold at around 1,060 rupees per 100 kg.
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Wal-Mart, Reliance to face retailers' body in Maharashtra
Mumbai: The Federation of Associations of Maharashtra (FAM) which is an umbrella body of all retailers in the state along with co-operative stores, hawkers and trade unions are opposing the entry of global giant Wal-Mart and domestic major Reliance into the retail sector.

The group feels that the government should study the social impact of multinationals and corporate giants' entry into the retail sector. The Apna Bazar chain of co-operative stores too has joined the group.

The front has planned protests on February 21 in Delhi and Bangalore to oppose the arrival of Michael Duke, vice chairman, Wal-Mart in India.
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Sick cos can be taken to court to recover dues: HC
Chennai: Creditors can now go to court to recover dues from companies referred to the Industrial Board of reconstruction according to a ruling by the Madras High Court.

Section 22 of Sick Industrial Companies (Special Provisions) Act, 1985, which bars a lender from going to court against a sick company for recovering dues, would cease to operate because of the amendment to Section 41 of the SARFAESI Act. The First

Bench, comprising Chief Justice Mr A.P. Shah and Mr Justice K. Chandru, said this while deciding on a writ petition of Golden Weaving Mills Pvt Ltd, Madurai. The company had challenged a notice of Tamilnadu Industrial Investment Corporation (TIIC) for recovery of dues of Rs1.56 crore.
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France relaxes visa norms to attract youth
New Delhi: France is launching its Compitences et Talent (competencies & talent) scheme in March which will make it easier for foreign nationals to enter the country. The visa was conceived under the new French immigration law unveiled last year.

The new competencies & talent scheme will provide an opportunity to live, work, study or carry out research in France very easily.

Those qualifying under the new scheme will be directly issued with the combined work and residence permit for three years by the French ministry of interior. Officials said this new category comes as a boost for Indian students in France who — if they come up with projects that can convince the government authorities — can stay back to study or carry out research without having to apply for any new work permits or coming back to India.
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