Buisness News

BUISNESS NEWS11TH OCT -16 OCT 2010

11TH Oct 2010 ,[object Object],In a move that will give emerging economies a greater say in IMF, the multilateral agency has said it is close to increasing quota share of developing countries by at least 5% by January 2011. The move will make IMF more representative and better positioned to tackle the economic problems facing the global economy. International Monetary Fund MD Dominique Strauss-Kahn said at a news conference that the idea is for a shift in quota share to dynamic emerging market and developing countries by 5% from over-represented to under-represented countries by January 2011.

12th Oct 2010 ,[object Object],Luxury car manufacturer Porsche has banned employees from using internet sites such as Facebook, Google Mail or Ebayduring office hours, for fear of industrial spying, German media reported. Corporate security chief Rainer Benne told business weekly Wirtschaftswoche that the company feared information could be leaked via social networking site Facebook in particular. Roughly a quarter of Porsche's 13,000 global employees use Facebook and other social networking sites, Wirtschaftswoche reported.

13th Oct 2010 ,[object Object],Unemployment in Britain for the three months ending in August has eased to 7.7%, down a tenth of a point from the rate posted a month ago, official statisticians said Wednesday. An independent analyst, however, said gains in employment were slowing down even before the government's expected job cuts begin. The Office for National Statistics said the rate for the June-August period was also down from 7.8 % in the preceding three months.

14th Oct 2010 ,[object Object],Microsoft issued its biggest-ever security fix on Tuesday, including repairs to its ubiquitous Windows operating system and internet browser for flaws that could let hackers take control of a PC. The new patches aim to fix a number of vulnerabilities including the notorious Stuxnet virus that attacked an Iranian nuclear power plant and other industrial control systems around the world. Microsoft released 16 security patches to address 49 problems in its products, many of which were discovered by outside researchers who seek out such vulnerabilities to win cash bounties as well as notoriety for their technical prowess.

15th Oct 2010 IOC hikes petrol price by 72 paise a litre: Indian Oil Corporation today hiked petrol prices by 72 paise a litre effective Saturday midnight. After the hike, petrol in Delhi will cost Rs 52.55 a litre and the rate in other cities will vary depending on local taxes.

16th Oct 2010 ,[object Object],The world's largest diamond exchange opens in the city's business district Bandra-Kurla Complex, taking India from a manufacturing to a trading hub and challenging the dominance of traditional centres like Belgium and Israel.

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