Larsen & Toubro, Sojitz Corp win Rs 3,799 cr Dedicated Freight Corridor Corp of India

This is the first composite contract won by a single bidder in the upcoming dedicated freight corridor. (Reuters) A consortium of Larsen and Toubro (LT) and Japan’s Sojitz Corp, has won an order worth R3,799 crore from the Dedicated Freight Corridor Corporation of India (DFCCIL), a company statement said on Friday. This is the first composite contract won by a single bidder in the upcoming dedicated freight corridor. FE had reported in its edition dated August 8 that LT along with its partner Sojitz Corp is well on track to win this contract. The design and build integrated package involves the construction of civil (embankment, structure, tunnel), track works, overhead electrification, traction substations and signalling telecommunication works for double line electrified tracks, high rise overhead catenary system, for…

Porsches parade through Kingston with police escort Motorists on Sunday were taken aback when a line of Porches swept through the capital with police escort. Social media lit up with complaints - and colourful language - about what was perceived to be special treatment for luxury cars that only the rich can afford. But checks by Gleaner Business indicate that police escort for cars imported to Jamaica is not unusual, and is in fact standard procedure, no matter the make. Dealers theorise that motorists may only have noticed this time because of the type of vehicle, its vaunted profile, and the fact that Porches are hardly ever seen in Jamaica. The brand is now formally represented by ATL Automotives. "That's how we all transport cars from the wharves," declared Howard Foster, general sales and marketing...

McDonald's Menu: Expect Big Mac Changes From Fast-Food Chain In 2017 If you think the Big Mac burger at McDonald's (NYSE:MCD) is too much or just not enough, the world's largest burger chain is about to roll out new options. McDonald's will introduce Mac Jr. and Grand Mac at restaurants in Florida and Pittsburgh later this month. They are slated to go nationwide by early next year. Mac Jr. takes out a layer of the original Big Mac, eliminating one of the two hamburger beef patties and the bread slice in the middle. It's essentially a dolled up version of its cheeseburger, only dressed up with shredded lettuce, minced onions, pickles, and the signature Big Mac sauce served on a sesame seed bun. Grand Mac doesn't add a third layer, as you might initially expect. It just ...

SEC Chairwoman White will leave post in January Securities and Exchange Commission (SEC) Chairwoman Mary Jo White on Monday said she will leave her post at the end of the Obama administration in January.  White, who has spent nearly four years as the agency's head, oversaw the bulk of the implementation of the Dodd-Frank financial reform law since taking the helm in April 2013.  "I am very proud of our three consecutive years of record enforcement actions, dozens of fundamental reforms through our rulemakings that have strengthened investor protections and market stability, and that the job satisfaction of our phenomenal staff has climbed in each of the last three years," White said in a statement.    White's term would have run through 2019. Her departure leaves another influential position open for President-elect Donald TrumpDonald TrumpProtesters...

Facebook to stop allowing racially targeted ads for housing, employment, credit Facebook will stop letting marketers run housing, employment, and credit ads that target or exclude users by racial and ethnic identity on the social network, the company announced Friday. Facebook have let advertisers target ads using what it calls “ethnic affinity” for some time, but the practice came under fire after a recent ProPublica report showed how the feature could be used to place ads that may violate federal anti-discrimination laws. The journalism outfit said it was able to order a Facebook ad for a housing event that wouldn’t be shown to African American, Hispanic and Asian American users. ProPublica was able to place the ad despite a Facebook policy banning marketers from using its ad targeting tools to discriminate against users. The report led to...

Holiday retail sales projected to rise in Southern Nevada With the election over and the traditional holiday shopping season near, analysts are projecting retail sales will jump 3.6 percent nationally, with Southern Nevada likely to mirror that.The National Retail Federation projects retail sales in November and December, excluding autos, gasoline and restaurants, to grow to $655.8 billion. That’s a bigger jump than last year, when analysts said sales rose 2.5 percent.“All of the projections are very positive and hover around that 3.6 percent growth rate,” said Melina Cordero, head of national retail research for brokerage firm CBRE, during a Wednesday roundtable. “That’s very positive. It shows the consumer fundamentals building up with wage growth and job growth and enabling consumers to spend.”Darin Mellott, director of research and analysis for CBRE’s Southwest region, said that because ...

Strong rating attributes KUALA LUMPUR: Sovereign rating agency Standard Poor’s (SP) says attributes underpinning Malaysia’s “A-” rating are strong, supported by asset holdings of both the government as well as the financial sector. The external debt level which has increased significantly is also ringgit-denominated, said its analyst Tan Kim Eng in a webcast on the Asia-Pacific Credit Outlook yesterday. “While the external debt is increasing significantly in the short end, they are in local currency terms, while in the assets side, the country continues to hold quite significant assets, as reflected in the balance sheet of Bank Negara Malaysia and the balance sheets of commercial banks.” One of the key attributes of the rating is the government’s predictable and relatively transparent policy and this was reflected ...

Now Users Can Launch Facebook's 'Safety Check' New York: Facebook will now allow its 1.2 billion users to automatically launch its crisis response tool, "Safety Check". According to a report by cnet.com on Thursday, this change will allow the community to decide the urgency of the nearby danger, something Facebook has struggled to grasp. In the areas of immediate danger, Safety Check allows people to notify their family and friends that they are safe. This feature of Facebook has been used during natural calamities and terrorists attacks across world.