Document 6578266

FRIDAY, OCTOBER 24 - 30, 2014 • 8 Pages www. enritimes.com
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Modi to visit Sabarimala
Kerala BJP president V Muralidharan has
said that preliminary steps for the visit of
Prime Minister Narendra Modi to
Sabarimala Lord Ayyappa forest temple
has been completed. PM’s secretariat and
intelligence agencies have already
collected some details in this regard from
the party state unit. The temple is situated
on a hill in dense forest and one has to
trek for three hours.
He was speaking
after inaugurating the
collectorate march
organised by the
party in protest
against the neglect of
Sabarimala
pilgrimage by the
UDF government in Pathnamthitta. He
said that though a formal announcement
of the PM’s visit to Sabarimala was not
made, the party was on a firm belief that
Modi would visit the temple during the
coming pilgrimage season. Muralidharan
said that the party state leaders convinced
the PM the importance of visiting
Sabarimala , when he had visited the
state earlier. “A detailed report, including
the important points on the trekking
route, will be submitted to the PM’s
secretariat,” he revealed.
India’s forex reserves hit $313b
After five consecutive weeks of falls,
India’s foreign exchange reserves grew
by $1.30 billion to $312.73 billion for
the week ended Oct 10. The reserves
had fallen by $2.75 billion to $311.42
billion for the week ended Oct 3. It
had slipped by $1.41 billion to
$314.18 billion for the week ended
Sept 26. Again the reserves went into
decreasing trend falling by $101.3
million to $315.59 billion for the week
ended Sept 19. The exchange reserves
declined by $1.61 billion to $315.69
billion for the week ended Sept 12 and
for week ended Sept 5 the reserves
lunged by $1.32 billion to $317.31
billion. Foreign currency assets, the key
component of the forex reserves, rose
by $1.29 billion at $286.88 billion in
the week under review. The foreign
currency assets had plunged by $1.80
billion at $285.58 billion in the
previous week. India’s reserve position
with IMF gained $3.3 million to $1.54
billion. The value of SDRs was up by
$9.3 million at $4.29 billion.
Puducherry to hire police constables
The Puducherry Police Department has
issued a notification to recruit 211
police constables (male) for the India
Reserve Battalion (IRBn) and 450 home
guards. A top official said the
recruitment process would be
transparent and that the authorities
would not tolerate any malpractice.
Also, he cautioned the candidates
about touts and agents.
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/employment & nritimes
EXCHANGE RATES
As on 23th October, 2014 (In rupees)
Currency
US Dollar
Pound Sterling
Swiss Franc
Euro
Saudi Riyal
Bahrain Dinar
Kuwait Dinar
Qatar Riyal
UAE Dirham
Omani Riyal
Buying
57.05
92.00
60.04
72.65
15.12
151.03
175.01
15.58
15.45
147.24
Selling
64.60
104.15
69.00
82.20
17.51
172.57
217.88
17.86
17.70
167.98
Rates are subject to change without notice. Errors & Omissions excepted.
Jer
arghese F
orex Bureau
Jerrr y V
Varghese
Forex
Saudi job market
remains vibrant
KOZHIKODE: Job opportunities for Keralites in
Saudi Arabia will not
shrink in the near future,
according to Tarek A
Mishkhas, editor-in-chief
of Malayalam News, a
Saudi
Arabia-based
Malayalam newspaper.
Mishkhas, who is a
former deputy editor of
the Arab News , said
Minister of State for Commerce Nirmala Sitharaman meeting with Foreign Min- Saudi Arabia is developing at a feverish pace and
ister of Mexico Jose Antononio Meade Kuribrena in Delhi.
the economy is doing well.
As a result, hundreds of
new projects are ongoing
in the desert kingdom.
This requires a steady inMUMBAI: With positive ready been set rolling and
NEW
DELHI:India’s
deciflow of foreign workers
sentiment emerging on all the company is visiting
fronts following Modi tak- campuses, he added. Of sion to remove price con- into the country.
“The demand for expat
ing over as the prime min- the 25,000 offers made for trols on diesel and to raise
ister, India’s largest soft- FY15, Mukherjee said he natural gas prices signals workers will grow for sevware exporter TCS is all expects around 71-72pc fiscal discipline and is a eral years to come,”
set to come out with an freshers to actually join “credit positive” step, al- Mishkhas, who where
though the overall impact
offer for 35,000 jobs for the company.
freshers at campuses . The
“The overall need of could be limited, MooTata-group company also what we require for the dy’s Investors Service
said that it is likely to over- next year and planning said.
“The decision to fully
shoot its overall stated tar- our head-counts from that
get of hiring 55,000 profes- point, campus (recruit- deregulate diesel prices
sionals, including lateral ment) is one of the things signals fiscal discipline
BANGALORE: Hiring senones, during the ongoing we have to do,” Mukherjee on the part of the sovertiment across the country
2014-15 fiscal.
said, adding that the over- eign, which we view as
remained positive while
“We will be overshoot- all hiring number for Fi- credit positive,” Moody’s
Bangalore recorded highest
ing that 55,000 number nancial Year 2015-16, in- said in a note.
growth of 36pc.
Still, Moody’s also
but at the moment we are cluding the lateral ones,
Hiring sentiment across
not looking at what that will be decided in Feb next noted the fiscal savings
the country remained posifinal number is going to year. After declaring a for the government’s dietive even as Bangalore rebe. We will be doing 13.2pc growth for the sel measures “are likely to
35,000 campus offers next July-Sept quarter profit at be limited” given total corded highest growth of
fiscal,” TCS executive Rs 5,244 crore, TCS ‘MD subsidies account for less 36pc in hiring across invice-president and global N Chandrasekaran had than one per cent of the dustries during September,
HR head Ajoy Mukherjee said that he is bullish country’s 2013/14 gross according to Naukri Job
Speak Index data.
said. The process has al- about 2015-16.
domestic product.
Bangalore experienced
the highest job growth
among the top metros, folNEW DELHI: SpiceJet allowed more Indians to lers has also led to passen- lowed by Pune with an incontinued with its galore of travel by air than ever be- ger volumes and revenues crease of 35pc in hiring
special offers announcing fore, and more often than for airports, travel agen- during Sept, the Index
yet another limited-period before and have helped air cies, hotels and local noted. On a national basis,
discounted one-way do- travel grow significantly economies across the hiring witnessed 23pc
mestic fare offer ——rang- year-over-year.”
country throughout the growth with sectors such
ing from all-inclusive fares
The large increase in year, even in low seasons, as banking and IT seeing
of Rs 899 to Rs 2,499.
the number of air travel- Kapoor said.
an increase of 52pc and
While tickets can be
booked at low fares till Oct
26, the travel period would
be between Nov 1 and Dec
15. The all-in fares, starting at Rs 899, are available
for short distance travel
between sectors like BanOur weekly Newspaper
galore-Chennai-Kochi.
While on Bangalore-Goa
sector, a one-way ticket
price would start at Rs
1,599 and for the rest of
India, the starting fare
would be Rs 2,499. The
overall airfares for advance
bookings have remained
on the lower side even during the peak holiday season, which has been a welcome change for passengers, with travel portals
and agents anticipating
that SpiceJet’s move would
be followed up by other
competing airlines.
Airline’s COO Sanjeev
Kapoor said SpiceJet has
“fundamentally changed
the air travel paradigm in
India this year” with frequent offers, often lower
than train fares. These
sales, he said, had helped
airlines to “fill empty seats,
TCS to hire 35,000
Moody’s hails
diesel pricing
here said. “This means
that Malayalees will have
more job opportunities,
especially in sectors that
require technical and
specialised skills.”
The Malayalam News,
published by the Saudi
Research and Publishing
Company since 1994, was
the first Malayalam newspaper to be brought out in
Saudi Arabia. It caters to
the large Malayalee population in the kingdom as
well as in other Gulf countries. Saudi Arabia, which
employs the second largest number of non-resident Keralites after the
UAE is one of the main
sources of remittances to
Kerala. The recent Nitaqat
(Sauidisation) programme, aimed at regulating
Bangalore sees
36pc rise in hiring
SipceJet offers another low fare
34pc respectively in Sept
2014 as against Sept 2013.
Info Edge India MDand
CEO Hitesh Oberoi said:
“The Naukri Job Speak Index has been growing
steadily for the past two
months, suggesting a sustained momentum in hiring activity. We expect the
upward growth trend to
continue in the coming
months.” Apart from the
banking and IT sectors, the
oil and gas and pharmaceutical sectors saw yearon-year growth of 35pc
and 28pc respectively on
the Index during Sept. The
telecom sector moved positively with the Index rising
26pc year-on-year in Sept.
The insurance and BPO
(Contd. on page 2)
the expat labour market by
reserving 10pc jobs for locals, had evoked fears that
job opportunities for
expats in Saudi Arabia
was waning.
Defending Nitaqat,
Mishkhas said it had benefited thousands of Malay
alees to regularise their
job status in the country.
“For instance, there were
so many Malayalis with
house-driver visas working as accountants,” he remarked.
“Since house drivers
cannot bring in their families, they had suffered.
Nitaqat allowed them to
change their job status to
accountants and they are
now eligible to set up
families in Saudi Arabia.”
(Contd. on page 2)
Indian embassy
in Kuwait eases
visa norms
KUWAIT CITY: Indian
embassy in Kuwait has
simplified the visa procedure for Kuwaiti nationals as well as expatriates
living in the country with
an aim to enhance travel
to India for business, tourism, medical treatment
and study purposes.
The embassy said it
has issued 10,000 visas
this year as against 7,600
visas issued during the
same period last year, registering a jump of 30pc.
The embassy has been
issuing five-year and oneyear business visa (multiple entry), one-year medical visa (multiple entry)
and six-month tourist visas
(multiple entry) for Kuwaiti nationals and expatriates resident in Kuwait.