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'Firms can mitigate IT skills shortage'
The shortage of information and communications technology (ICT) skills in developed countries could become a serious issue once the worldwide economic crisis starts easing. This will be exacerbated by the falling number of masters and PhD holders in science and engineering, restrictions on cross-border movement of IT professionals and the US H-1B visa programme. However, this vicious circle could be mitigated by the Indian service firms increasingly recruiting internationally, according to a new OECD report on employment trends in the ICT sector. http://smallpersonalloans.org.uk

Nalco to invest Rs 25,000 cr despite profit drop
Allaying apprehension about its disinvestment, aluminium giant National Aluminium Company (Nalco) is all set to invest over Rs 25,000 crore to launch new projects and undertake major expansion despite decline in profit due to global recession.

News of the day

Bosch Q3 net rises 23% at Rs 195 cr
Automotive component manufacturer Bosch today said its net profit rose by 23.14 per cent to Rs 194.81 crore for the third quarter ended September 30, over the same period last year.
International Business

PowerGrid seeks Rs 8,750 cr from WB, ADB

PowerGrid Corporation is seeking loans of Rs 8,750 crore from the World Bank and the Asian Development Bank (ADB) to fund upcoming transmission projects in the country. - Pranab asks states to accelerate aided projects - New visa rules hit two major road projects in HP - Himachal highways work hit as Chinese leave - JNNURM lifeline likely - Mahesh Vyas: "Landing" the investment opportunity">Mahesh Vyas: "Landing" the investment opportunity - WB okays $320 mn loan for road projects in AP The transmission monopoly has sent its proposal to the Ministry of Finance through the Power Ministry to negotiate with the multilateral lending agencies. "The proposals for raising $750 million from World Bank and $1 billion from ADB have been sent to Finance Ministry by the Ministry of Power," a senior company official said, adding "now they (Finance Ministry) would negotiate with the World Bank and ADB." These loans would be utilised by the company for its projects in the next financial year (2010-11). "This loan would be for the next fiscal projects," he added. The company plans to invest Rs 55,000 crore to set up transmission lines in the country during the current XIth Five Year Plan (2007-12). PowerGrid plans to augment its transmission capacity to 23,400 Mw in the current fiscal (2009-10) from the existing 19,800 Mw and enhance it to 37,000 Mw within the plan period.


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