Nicosia, Oct 21 (ANI): Qatar Petroleum has awarded Punj Lloyd the engineering, procurement, installation, and commissioning of the Strategic Gas Transmission Project, worth 800 million dollars.

The project includes the laying of 211 km of a 36-inch diameter pipeline with associated stations and infrastructure.

Punj Lloyd, a transnational a transnational company specializing in the energy and infrastructure sectors with operations in the Middle East, Africa, the Caspian, Asia Pacific and South Asia is expected to complete the work in Qatar in 32 months.

Atul Punj, Chairman, Punj Lloyd Group, told journalists that was the fourth EPC contract the company secured in Qatar, something which demonstrated the confidence of the client in Punj Lloyd Group's capability in executing large and challenging projects.

"The project will facilitate in meeting the power and water production growth of Qatar," he said.

Punj Lloyd has major presence in Qatar and is executing key EPC projects including the Doha Urban Pipeline Relocation and the Multi-Product Pipeline from Qatar Petroleum Refinery to Doha Depot for Qatar Petroleum, and fuel systems for the New Doha International Airport. (ANI)

London, Oct.20 (ANI): Emerging economic powerhouses India and China will be most reluctant support the wider global economy during its downturn phase, as Deutsche Bank survey has warned.

The warning comes as world leaders have agreed to hold a "Bretton Woods (type) meeting for the 21st century" in New York to assess the global economy's health.

The Deutsche Bank also warned that major industrialised economies will suffer the worst slump since the 1930s, and added that Britain will be more vulnerable than the United States.

"We now expect a major recession for the world economy over the year ahead, with growth in the industrial countries falling to its lowest level since the Great Depression and global growth falling to 1.2pc, its lowest level since the severe downturn of the early 1980s," The Telegraph quoted bank economists Thomas Mayer and Peter Hooper, as saying.

According to the International Monetary Fund (IMF), global growth of anything less than three percent constitutes a world recession.

The New York meeting comes at the initiative of U.S.President George W Bush, French President Nicolas Sarkozy and European Commission President José Barroso.

The meeting may take place in the UN headquarters in New York, and the G8, which consists of the US, Japan, Germany, Russia, the UK, France, Italy and Canada, will be joined by others including India and China. (ANI)

New Delhi, Oct 20 (ANI): Finance Minister P. Chidambaram today said that the 100 basis point cut in repo rate by the Reserve Bank of India (RBI) is consistent with the government's policy of maintaining growth and moderating inflation.

Talking to reporters here, Chidambaram said the rate cut would be beneficial for both borrowers and investors, and help investors to carry forward their plans.

"The cut in the repo rate is consistent with our objective of moderating inflation and ensuring satisfactory growth rates. It will be beneficial to many sections of the people especially borrowers and investors. I hope it will enthuse investors to continue to take forward their investment proposals," he added.

India's central bank on Monday cut its key short-term lending rate by 100 basis points to 8.0 per cent to alleviate pressures caused by the global financial crisis and maintain financial stability.

The cut in the repo rate, which takes immediate effect, came ahead of a scheduled policy review on Friday.

The central bank may cut its short-term lending rate at a policy review on October 24 as a buffer against the global financial crisis and economic downturn.

The Indian rupee strengthened and bond yields fell after the RBI cut its key lending rate, the repo rate.

The main 30-share BSE index extended gains to 5.6 per cent up on the day.

The rupee rose to 48.72 per dollar from 48.80 before the rate cut was announced.

The government and the central bank have taken a number of measures over the past month to ease cash conditions and staunch the effects of the global financial crisis, including cutting banks' cash reserve requirements. (ANI)

Bangalore/Noida/Plano, Oct 20 (ANI/Business Wire India): Perot Systems Corporation today announced the appointment of Anurag Jain as Managing Director for the company's Asia-Pacific region.

In this new role, Jain will serve as Perot Systems' senior leader in the region, responsible for heading the company's business development and market expansion.

Jain will continue to head the company's global Applications Solutions and Insurance and Business Process Solutions divisions.

"Anurag has a distinguished track record of developing, delivering and growing global technology business across a variety of industries and geographies," said Peter Altabef, president and CEO of Perot Systems.

"In addition to this unique experience, Anurag's knowledge of the region and proven leadership skills should enhance business development and market expansion opportunities for Perot Systems in the highly dynamic Asia-Pacific markets," Peter added.

Perot Systems' new managing director responsibilities include coordination of business unit activities within the designated global region to accelerate the build out of the company's client base and deepen its global delivery model to utilize the skills and resources in the region.

"I am delighted to accept the additional responsibility as managing director for a very exciting Asia-Pacific region, which is full of potential and possibilities" said Anurag Jain, managing director for Asia-Pacific for Perot Systems. "The scope for expanding business as well as delivery capacities within the region is tremendous," Anurag added.

Jain has more than 15 years of management, operations, consulting and business start-up experience and has been a senior leader of Perot Systems since 2003.

He initially served as a member of the healthcare unit's senior leadership team, where he had direct responsibility for business process outsourcing sales and operations and helped the organization to develop and operate integrated BPO and technology solutions.

In 2005, Jain led Perot Systems' successful entrance into the Life Insurance industry, where the company today provides a wide range of technology and policy administration solutions. He has led our insurance and business process solutions group since 2006.In July 2007, Jain took on the additional responsibility of leading our applications solutions group.

Prior to Perot Systems, Jain founded two successful BPO businesses, Vision Healthsource, a healthcare services provider and Brigade Corporation which focused on providing technology support via e-mail and chat.

Jain holds an M.B.A. from the University of Michigan and a B.S. degree in electronics and electrical engineering from the Birla Institute of Technology and Sciences, Pilani, India. (ANI)