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Sanjaya Baru: Time to get our fiscal act together
Sanjaya Baru / New Delhi November 4, 2009, 0:58 IST

Overseas borrowings slip from October high
After hitting a 13-month high in October, external commercial borrowings (ECBs) and foreign currency convertible bonds (FCCBs) issued by Indian companies dipped slightly to $2.35 billion.

News of the day

Suspend cotton exports to help textiles ind: FIEO
Exporters today appealed to Prime Minister Manmohan Singh to suspend export of raw cotton saying rising prices of the commodity has become a double whammy for textiles industry, hit by the global demand slump.
Corporate

Hyundai workers insist on strike

A third strike in nine months loomed large over Hyundai Motor India (HMIL) with a section of workers today saying that they will go ahead with a tools-down agitation if the management or the state labour department do not act positively on their demands. - Hyundai workers union awaits labour dept intervention - Hyundai workers again threaten strike - Haldia expansion plan hit by workers" strike - Rico Auto 50-day strike ends - Hyundai Motor India to hire executives from overseas - Hyundai shifts Indian MD & CEO Lheem to Seoul "We have given a notice...If we don"t get any positive action from Hyundai management or from the labour department, we will fix the date for going ahead with a strike after December 5," CITU state general secretary A Soundararajan said. The CITU-affiliated Hyundai Motor India Employees Union, which has support of about 300 workers, have threatened to go on strike demanding reinstatement of 80 dismissed workers. Asked if the strike call will not amount to a breach of the MoU signed with the management in July, he said, "At that time they told us that they would reinstate 80 dismissed employees but they reinstated only 20." He said the remaining dismissed 60 employees should be reinstated and their trade union, comprising 1,200 workers, should be "recognised". An HMIL spokesperson, however, dismissed the claims saying, "as per the MoU signed with the workers, we have agreed to reinstate only 20 employees and we have fully implemented them. This strike is only to derail the electoral process for selecting a Workers Committee."


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