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Wednesday, November 12, 2008
Reliance buys back share
Reliance Infrastructure has bought-back 16 Lakh equity shares of the company in less than two weeks. Since the commencement of the buy-back on March 25, the company has so far bought back 72.60 lakh equity shares aggregating Rs. 711 crore. The shareholders of Reliance Infrastructure have approved the buy back of equity shares of the company to Rs. 2,000 crore.
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A Desert Off-Limit for summer
Australia's outback Simpson Desert will be closed for the first time this summer to prevent visitors from dying in the extreme heat, officials said. The Simpson Desert Conservation Park and Regional Reserve in South Australia will be off limits from December 1 to March 15 each year, beginning next month, the South Australian Department for Environment and Heritage said. Temperatures in the Simpson Desert during summer are extreme, with daytime temperatures of between 40 and 50 degrees Celsius common. An official of the department, Trevor Naismith, said: "Most People that cross the desert during summer are from overseas, and many do not have the driving experience for such a crossing, or a properly equipped vehicle with radio communications and recovery gear in case of an emergency." He said that during summer sand dunes were soft and constantly changing shapes, increasing the chance of vehicle becoming bogged down, while there was a greater risk of vehicle breakdown during the hotter months. "At a time when there are very few vehicles in the desert to provide assistance in a timely manner, this is potentially a fatal situation, especially for the inexperienced, ill-prepared visitor", he said.