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Mines Ministry to take up Hind Copper disinvestment
The Mines Ministry is expected to send the 20-per cent share sale proposal of state-run Hindustan Copper to Disinvestment Department next week, a move that may help realise an estimated Rs 11,000 crore.

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ArcelorMittal may slash 10,000 jobs in 2010: report
The world"s largest steel maker ArcelorMittal may cut 10,000 jobs globally next year and plans to reduce costs in order to regain its lost market share particularly in Europe, a media report says.

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No violation by Vedanta at Niyamgiri, says report
The Vedanta Aluminium Ltd (VAL), part of Vedanta Resources, has not violated any forest and environment norms at its alumina refinery and bauxite mining site in Kalahandi district of Orissa, according to a report of the state government.
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UP to start new recruitments to overcome staff crunch

Acknowledging the staff crunch in the state Industrial Training Institutes (ITIs), the Uttar Pradesh government will start new recruitments and effect rationalisation of existing heads to tide over the crisis. - Blowing in the wind - If whirled up in Dubai"s crisis, Emirates may set a lower course - Do hold the drink - Bailouts for British banks hit 850 bn pounds - Why didn"t Liberhan indict Cong leaders, asks Nitish - Tatas rejects 10 mn pound UK loan: report This process will be completed within the current fiscal year. There are about 106 and 156 polytechnics and ITIs, respectively, in the state. The objective is to turn the ITIs into Centres of Excellence under the centrally sponsored scheme, so that their pass-outs fit into the requirement of industry. Seventy ITIs have been identified by the Union Ministry of Labour and state Department of Vocational and Technical Education for this purpose. Pan-India, 1,300 ITIs will be converted into Centres of Excellence. Each ITI will be provided an interest free loan of Rs 2.5 crore payable after 10 years. The scheme envisages constitution of Institute Management Committees (IMCs) in public-private partnership (PPP) mode to be chaired by an industrialist recommended by an industry association. “The state government has assigned top priority to this task and the chief secretary is heading a high-level committee to monitor this scheme,” UP vocational & technical education principal secretary Vrinda Sarup said addressing a workshop organised by Indian Industries Association (IIA) for modernisation of ITIs under PPP. She said the state government aimed at improving the quality of technical and vocational education in ITIs and polytechnics in association with industry partners. The state government had already constituted the UP Vocational Education and Training Board (UPVETB) for training educated and uneducated youth in various trades according to the industry requirements and encourage self-employment. All examinations pertaining to vocational education will be conducted by UPVETB from next the academic session 2010-11. There is a projected requirement of 500 million certified and skilled technicians in India by 2022. “The industry has long been complaining about the level of skill of the candidates passing out of ITIs and their usability for industrial jobs. We hope that with the involvement of the IMCs, the output of these institutes will be compatible with the requirements of the industry,” IIA President Anil Gupta said. The government has also urged the IMCs not only to monitor the expenses but monitor the means of resource generations too, so that the loan could be repaid in the stipulated period.


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