Indian shares fall

MUMBAI: Indian equities lost ground during the first few hours of trading Monday, with a key index falling 4.2 per cent to a five-month low because of an overall global meltdown. The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which has been under pressure because of the developments in the global share markets, fell 431.24 points at 12,454.89 within minutes of trading Monday. The key index had already lost 272 points in the previous sessions last week.—HNS

Chirac lets off steam

PARIS: The French president, Jacques Chirac, has lambasted the EU trade commissioner, Peter Mandelson, for making too many concessions to poor countries as officials try to restart stalled world trade talks. Speaking in Paris at the weekend (MAR3-4), Mr Chirac said France would show “rock-hard firmness” in defending its interests in World Trade Organisation negotiations. He was “profoundly shocked by some of the attitudes” shown by the EU trade commissioner at the WTO.— The Guardian

Jobs for senior citizens

SINGAPORE: The Singapore minister responsible for city-state’s aging population wants more of the 55-64 age group to be employed in order to be financially secure, a newspaper reported. Lim Boon Heng, a minister in the prime minister’s office who chairs a new ministerial committee on aging, said Sunday his target is an employment rate of 65 per cent for that age group, which in many countries is retirement age. — AFP

YFL’s rights shares

KATHMANDU: Securities Board of Nepal (SEBO) has granted permission to Yeti Finance Ltd (YFL), Hetauda to issue rights shares worth Rs 6.25 million with a face value of Rs 100 each to its shareholders. SEBO approved the rights share issue application of the company after the board having been satisfied with its due diligence certificate, states a press release issued by SEBO. NIDC Capital Markets Ltd has been appointed as the issue and sales manager. — HNS

Strides in dev works

NUWAKOT: Finance minister Dr Ram Sharan Mahat has said that the country has taken new strides because of the development of infrastructures in sectors including health, education, employment opportunities and road networks in rural areas. Speaking at a programme, organised at Nuwakot, he noted that priority has been given to health, education, road construction and development works in rural areas. — RSS

Citroen not for Proton

PARIS: PSA Peugeot-Citroen said it has decided to break off discussions with Malaysian car maker Proton Holdings BHD about possible industrial collaboration. Executives from Peugeot-Citroen and state-controlled Proton had been reviewing possible areas for cooperation since September.— AFP