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Tuesday, June 28, 2011

AI warns govt of loan default consequences


Air India has warned the Prime Minister’s workplace (PMO) and also the finance ministry that the country’s sovereign rating could also be hit because the airline is on the brink of defaulting on interest payments on foreign loans of Rs fifteen,000 crore. The loans are backed by a government guarantee.

The state-owned airline had taken these loans to part-fund its Rs twenty two,000-crore aircraft acquisition programme. The banks concerned embody Citibank, customary Chartered, Deutsche Bank, J P Morgan and KFW.

In a communication to PMO and also the finance ministry sent many days ago, the Air India management pegged the overdue quantity at Rs four,489 crore, as well as payments to grease corporations, airport operators, vendors and workers, besides interest on operating capital loans.
 
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Foreigners allowed to invest in mutual funds


Cap of $10 billion proposed; Sebi to notify final rules by August one.

In an endeavor to manage the volatile capital flows, the finance ministry these days allowed foreign people to take a position up to $10 billion in domestic mutual funds.

The Securities and Exchange Board of India (Sebi) can notify the principles by August one. The move was announced within the Budget.

At present, besides resident Indians, solely foreign institutional investors (FIIs), sub-accounts registered with Sebi and non-resident Indians will invest in mutual funds in India.

The move can offer mutual funds access to additional foreign cash. The fund trade, however, reacted with caution and said it'd watch for the ultimate tips.
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HP, IBM lead 2011 India Supercomputers list


The supercomputer at Computational analysis Laboratories (CRL), jointly engineered with HP and armed with 172.60 TFlops (teraflops), has topped the 2011 Supercomputers in India list. The Centre for Development of Advanced Computing ranked second with its Param cluster supercomputer.

IBM, with its Blue Gene resolution jointly developed with the Tata Institute of elementary analysis (TIFR), Mumbai, came third.

IBM, however, had six of its high-performance computing (HPC) installations across India within the list that comprised sixteen supercomputers. HP followed with 5 and SGI with 3 systems.

TIFR, that was ranked seventh within the December 2010 list with a processing capability of fifteen.5TFlops, improved its ranking to 3rd now, with a capability of twenty seven.85 Tflops. It replaced the one put in at IISc (Bangalore) that incorporates a processing speed of twenty-two.94 Tflops.

TFIR has been operating with IBM in areas of analysis in pc sciences.

The Supercomputer Education and analysis Centre has been compiling and publishing this list in India twice a year since December 2008 in June and December.
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