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NSG to have permanent base at new hubs
National Security Guard (NSG) commandos deployed at their new hubs in four cities and currently housed in temporary locations will have permanent structures at their earmarked lands by next year.

Markets slip into red
Markets have erased all its gains and slipped into the red.

News of the day

DoT wing seeks clarity on 3G licence fees
Wireless Planning and Coordination (WPC) wing, the highest policymaking wing of the Department of Telecommunications (DoT), has sought clarifications from the department on the licence fees that need to be paid by successful bidders of third generation (3G) auction for acquiring a unified access service licence (UASL).
Public Company

Shipping Corp in tie up with MSC for Europe service

Shipping Corporation of India (SCI) has entered into an agreement with Geneva-based Mediterranean Shipping Company (MSC) to run its European service. - EM inflows on the rise - Indian stocks best performers among emerging market - Piramal Life Sciences to invest Rs 200 cr in R&D - Cong open to all like-minded parties for alliance: Scindia - India loses weight in MSCI India Index - Web Special: Changes to MSCI India Index constituents The Indian company signed the agreement after four of its partners in the European service withdrew because of fall in trade. "We are continuing our European service with Mediterranean Shipping Company after our old partners withdrew," SCI Director J N Das told PTI. ZIM Israel, Yang-Ming Lines of Taiwan, MISC of Malaysia and K-Line of Japan are the SCI partners who withdrew. SCI has deployed four vessels while MSC has deployed three vessels for the European service. The rotational service begins from Jawaharlal Nehru Port and goes to Mundra, Salalah, Barcelona, Hamburg, Rotterdam, Jeddah and Colombo. A round trip from Jawaharlal Nehru Port takes 49 days. According to estimates in 2008-09, container growth was 3.5 per cent against 10 per cent in 2007-08. Trade rate to Europe has fallen from $1,400 six months ago to $250 now per container. For Dubai, the rate has crashed from $500 per container to $50. The agreement was signed on May 17.


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