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Buddhadeb bats for labour reforms,asks TUs to change mindset

Kolkata, Sept 22 (UNI) West Bengal Chief Minister Buddhadeb Bhattacherjee today urged the Centre, trade unions and the corporate sectors to reach a consensus over labour reforms.

''The hire-and-fire policy will not help (the workforce) and the government, the trade unions and the corporate sector should come at a consensus over labour reforms,'' he said while speaking to industry leaders at a CII meeting here.

''The union government has made a draft over labour reforms but it is not sufficient and the three parties should reach a consensus over labour reforms,'' he emphasised.

At the same time he asked the trade unions to change their mindset and look at the quality of production and not concentrate only on agitation.

''I am trying to pursuade the trade union leaders to change their mindset, since agitations will not help in development of industry,'' he explained to industry captains.

He also called upon the Centre to have a clear Special Economic Zone (SEZ) policy so that industry could be given incentives rather than SEZ becoming a real estate project.

Regarding disinvestment of public sector units, he said the Navratnas should not be touched as they were the backbone of the economy. ''There are other ways of raising funds like unearthing of black money,'' he added.

The chief minister said agricultural success in West Bengal needs to be replicated in the industry and his government was preparing a 'land bank' for a clear policy on acquisition of land for industrial projects.

UNI TJP PL AB 1512

Santanu Paul to head Virtusa global delivery oprns

Hyderabad, Sep 22 (UNI) Mr Santanu Paul would head the Global Delivery Operations of the Virtusa Corporation, a global provider of software development and IT services. Virtusa Corporation has promoted Santanu Paul as head of global delivery operations, a company release said here today. Mr Santanu would continue to hold the position of General Manager of the company's Hyderabad Advanced Technology Centre, as an additional responsibility, the release added. UNI BR ROY 1800.....

(Updates prices, adds Boston Scientific)

NEW YORK, Sep 22 (Reuters) U.S. stock futures pointed to a second straight day of losses on Friday on concern about weakening economic growth after KB Home warned of tough conditions in the housing market. Shares of KB Home, the fifth largest U.S. home builder, fell 4.1 percent in Europe after it said conditions in formerly strong markets weakened and the home-building market was unlikely to improve in the foreseeable future. For details, see.....

(Updates prices, adds fresh quotes)

LONDON, Sep 22 (Reuters) The dollar hit a two-week low against the euro on Friday after a regional Federal Reserve survey pointed to a slowdown in the U.S. economy, reinforcing expectations U.S. interest rates have peaked. The Philadelphia Fed's business activity survey for September posted its first negative reading in over three years, indicating a significant decline in manufacturing in the mid-Atlantic region. Expectations that U.S. interest rates may have no further to rise from.....
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