Exchange Board Of India

                                       

The Cabinet is also likely to take up the new Companies Bill after differences over market regulator Securities and Exchange Board of India’s jurisdictions in case of regulatory overlaps have been ironed out between the Finance and Corporate Affairs Ministries

At present, India allows 100 per cent FDI in cash-and-carry wholesale trade that is business-to-business. It permits 51 per cent in single-brand retail such as Louis Vuitton, Jimmy Choo or Fendi. However, FDI is not allowed in multibrand retailing like Walmart, Carrefour and Tesco. The Cabinet will tomorrow be taking for approval both the proposals of increasing the FDI limit in single-brand retail and permitting 51 per cent in multi-brand retail together, a senior official from the Ministry of Commerce and Industry told Business Standard.

Last week, the Department of Industrial Policy and Promotion (DIPP) had sent the final note to the Cabinet, suggesting both the measures after thorough inter-ministerial consultations.

IPIC Pays $3.75 Billion in Loans Before Due Date at Abu Dhabi

International Petroleum Investment Co. said it repaid $3.75 billion in borrowings before their 2013 maturities as the Abu Dhabi government-owned investor uses proceeds from a bond sale this year to retire short-term debt.
IPIC, as the company with an indirect holding in carmaker Daimler AG is known, paid on Nov. 21 two separate loan facilities taken out in 2010, according to a statement e-mailed today. The company last month sold three debt tranches for $3.75 billion with maturities of as long as 30 years.
“ IPIC is prudently managing its liabilities,” Managing Director Khadem Al-Qubaisi said in the statement. The company will continue its debt management policy through a “recycling of capital and its subsequent maturity extension,” he said.
Middle Eastern oil producers fund investment companies like IPIC to help diversify their revenue beyond income from oil sales. IPIC owns Spanish refiner Compania Espanola de Petroleos, is the second-largest holder behind the Austria government in oil and gas producer OMV AG and owns stakes in petrochemical producers. Its unit Aabar Investments PJSC holds stakes in non- oil related companies like Daimler.

Gold steady below $1,720

Gold prices held steady below $1,720 on Wednesday, as rekindled worries about Greece's debt crisis.

FUNDAMENTALS

• Spot gold edged down 0.1 percent to $1,716.79 an ounce by 0020 GMT.
• U.S. gold gained 0.4 percent to $1,718.90.
• Markets falldown on Tuesday. The Greece's Prime Minister George Papandreou shocked the world by announcing plans to hold a bailout plan throwing hopes on solving Greece's debt crisis into trouble.
• French President Nicolas Sarkozy and German Chancellor Angela Merkel will hold an emergency meeting with Greece on Wednesday to push for a quick implementation of Athens' bailout deal, the "only solution" to its debt crisis, Sarkozy said on Tuesday.
• A news conference by the U.S. Federal Reserve chief Ben Bernanke later in the day after a two-day policy meeting. The Fed looks set to take a breather from economic stimulus measures on Wednesday, even if financial market unstable heightens the chances of action later.
• Manufacturing surveys on Tuesday from North America to debt-crisis-hit Europe to Asia painted a portrait of softening global demand, but analysts do not see a world recession in the cards.
• MF Global -Holding Ltd failed to keep customer accounts, said a top U.S. exchange regulator, shock for commodity markets to run the brokerage's bankruptcy.

Sensex Jumps 516 Points, Biggest Gain in 2 Months

The BSE Sensex shot up 516 points today to close at 3-month high of 17,804.80 on the back of strong global markets after EU leaders agreed to a deal that will ease the euro-zone debt crisis.

Sensex and Nifty by a huge 3 per cent, adding an estimated Rs 1.5 lakh crore to the investor wealth.

The BSE 30-share barometer commenced trading sharply higher and shot up over 600 points to a high of 17,908.13 before concluding at 17,804.80. It closed 515.97 points or 2.98 per cent up – biggest gain in absolute term after August 29, when it had spurted 567.50 or 3.58 per cent.

The NSE wide-based Nifty also flared up 158.90 points or 3.05 per cent to close at a fresh 3-month high of 5,360.70.

All the 13 sectoral indices closed with gains of between 6.34 per cent and 0.18 per cent with metal, realty, banking, capital goods and auto leading the rally.

From the Sensex pack, 27 of the 30 scrips finished with sharp to moderate gains while only Maruti Suzuki, Bharti Airtel and Bajaj Auto closed with losses.

Economic analysis of india

 Economic Analysis is very important in order to the exact condition of an economy. This process analyze the strength and weakness of an economy.  India economic analysis provides various effort on economic condition of this south-east Asian country. It can be done both at a microeconomic as well as a macroeconomic level. India economic analysis could also be described as being an explanation of various economic phenomena going on in this country. 

 

Finanace Minister:  Pranab Mukarjee

India's economy moving in positive direction: Pranab

India's Finance Minister said India's economy moving in positive direction and hoped international commodity prices would decline, helping the government tame inflation and cut subsidies. Mukherjee maintained that India's economic fundamentals were strong and capable of meeting any challenge posed by the downgrade of the US economy and the crisis in some eurozone nations.

RBI rate hike, market will remain cautious

Reserve Bank of India raised rates 12 times in 18 months, causing growth to slump while inducing no discernible impact on inflationary pressures.

The market is braced for RBI Governor Duvvuri Subbarao to announce a 13th rate rise on Tuesday. Ideally, he instead would hold rates steady and allow time for an inevitable downward drift in price pressures as growth slows further. 

Reserve Bank Of India

"Enough damage has been done," says Sanjay Mathur, chief economist for Asia ex-Japan at the Royal Bank of Scotland. "But they are so deep in the quick-sand that they are finding it hard to reverse course now and say food prices are not our problem."

Like most other economists, Mathur feels sorry for Subbarao. Hapless or not, the governor and his board have had precious little help from the government in tackling pressure points, such as supply bottlenecks in food.

Microsoft Corporation Holds back Profit

Microsoft CEO Steve Ballmer

The world's Largest software company released its first-quarter fiscal 2012 financial results after market close today.The company’s revenue for the first quarter of fiscal 2012 climbed 7% on a year-over-year basis to $17.37 billion.

Analysts were on average expecting the maker of Windows operating system to report earnings of $0.68 per share and revenue of $17.24 billion.

Peter Klein, CFO of Microsoft, said that the company saw customer demand across the breadth of its products, resulting in record first-quarter revenue and another quarter of solid earnings growth.

Microsoft’s first-Quarter revenue from Windows sale rose less than 2%, reflecting the weakening demand for PCs.  Growing economic uncertainty has led to a decline in technology spending, hurting demand for PCs.

Microsoft's shares, which have traded in the $20-$30 range for the last decade, fell 0.7 percent in after-hours trading, to $26.85. They closed at $27.04 on Nasdaq.

Economic crisis in IT Sectors

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Fears rising in IT sectors over new economic downturn. The situation is definitely grim, posing stiff leadership challenges for Chief Information Officer. But  IT initiatives in many cases are proceeding as planned, partly because of a desire among business executives to rely even more heavily on technology to help reduce corporate costs and boost revenues.

For example, Auto Warehousing Co.'s IT staff has been relatively lucky — although certainly not safe AWC processes new cars for automakers, and it's feeling the pain of the drop in car sales. For IT, that means a 24% budget cut this year.  

IT wages across US: The 2008-09 recession reduced wages in Silicon Valley last year by about 10%. But even with that drop in pay, tech employees in the Valley remain, by far, the best paid in the U.S. 

IT hiring jumps in January: U.S. IT employment increased by 12,900 jobs, or 0.3%, in January, one of the best month-to-month gains since the recession hit in late 2008, the TechServe Alliance reported today.

The positive news comes after the prolonged recession had reduced overall IT employment by some 200,000 jobs, according to the Alexandria, Va.-based IT services industry group, which tracks monthly changes in IT hiring based on its own analysis of U.S. unemployment data.

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