Patil resigns, Chidambaram to be home minister: ET

P Chidambaram will be the new home minister. The finance ministry will now be under the direct charge of the Prime Minister, according to ET report. The CWC, which met here on Saturday night, gave the marching orders to Shivraj Patil. Taking moral responsibility for the Mumbai terror outrage, Patil -- who has for long been under attack from both within the government as well as outside -- resigned this morning, ET reprots.

Shivraj Patil was criticized for the many terrorist attacks in India during his tenure as the Home Minister. Patil has sent his resignation to the Prime Minister. The name of Finance Minster P Chidambaram is first in the reace for the new Home Minister.

Yes Bank non-exe chairman killed in Mumbai Terror Attack

Ashok Kapur, non-executive chairman of private sector lender Yes Bank, has been killed by terrorists in the Trident-Oberoi hotel complex in Mumbai. Kapur was the founding promoter and held 11.83 per cent stake in the bank at the end of September 2008. He went to the hotel for diner, and killed in the terror attack. Many other professionals were are reported there in the hotel during the incident. His body was found on the 19th floor of the hotel, according to media report.

Indian economy slows further in Q2

For the second quarter of the current fiscal year, GDP rate is recorded at 7.6 per cent. The low growth in the agriculture and manufacturing was the matter of concern. The GDP rate in the first quarter of this fiscal year was 7.9 per cent which was high in comparison with the current quarter figures. quarterly GDP growth was the lowest since the last quarter of 2004.

According to media reports the Finance Minister P Chidambaram described the growth rate as during the first half of 2008-09 as "healthy and satisfactory” in the worldwide context, where many economies are shrinking in a recession.

Compared with the year-ago period, the Indian economy seemed to be slowing as the growth was 9.3 per cent in the second quarter of the previous fiscal, but it was expected to moderate as a consequence of the global financial crisis and other domestic factors.

Sensex snubs terror threat, ends up 66pts

Amidst the terror attacks and exchange of fire between the terrorists and NSG, the Bombay Stock Exchange (BSE) started business on Friday. On Wednesday night the terrorists struck the city and brought the financial capital into halt. It was deadliest attack in India and the Mumbai the financial capital has ever seen.

In the early trade on Friday, BSE and Sensex recorded a fall from the previous days closing point. On Thursday the BSE was closed following the continuation of the terrorist attack. On Friday's trading, Sensex snubs the terror strike and ended with up points of 66, at 9093. At the noon, some news of gun firing from the headquarters of RBI was reported. This spreads more panic in the market and among the traders.

While after some time, it was reported as rumors, thanks to the people those brought the fact into the market and the trade continued. The Mumbai terror attack will have direct impact on stock market. It is very hard time for the investors to get the proper pace the terror strike is just adding insult to injury, as all are facing the adverse affect of the global meltdown.

Terrorists stikes Mumbai

It is ever biggest terrorist attacks in India. It has been terrific situation in Mumbai for last night. The terroriss attack was more drastic than the attack on Parliament. There are reports coming in about the hostage of many people at three places in Mumbai. However, the Mumbai police and the army are in action to get free the hostages.

The financial capital of India Mumbai is on the target of terrorits and comes on halt after the deadly terror attacks on Wednesday and Thursday. In the terror attacks, top three officers of Mumabi police were killed. According to media reports, around 228 civilians have been injured and 101 were killed. Mumbai police and NSG personnel are on operation to free the hostages and 400 evacuated from Taj since last night.

Following the terror strikes the maker of Mumbai is closes. There is no trade at the Bombay Stock Exchange. The live city Mumbai comes to halt today following the terror attacks.

Cyclone Nisha to hit Tamil Nadu, 3500 people evacuated

The meteorological department has sounded an alert in the coastal areas of Tamil Nadu as cyclone Nisha is expected to hit between Nagapattan and Vedranyam coasts by afternoon. As many as 3,500 people have been evacuated and moved to the safer place. The wind speed at the coastal areas was at 50km/hr, according to media report.

The coastal areas were on alert and many places are being vacated. The cyclone Nisha would hit the coastal belt of the state and expected that the wind speed would even be higher. The people in Chennai are in panic and there are constant updates on the Chennai weather by the meteorological department.

IDBI Bank to hire 650 managerial staff

Industrial Development Bank of India (IDBI), will recruit 652 people at the managerial level., according to media reports. IDBI Bank is one of the leading public sector lenders. The move of the IDBI Bank is bit of surprising for the financial and banking institutes as the whole world is reeling under pressure of global meltdown. IDBI Bank unlike other companies those are trying to adopt the cost cut measures.

The IDBI Bank is is planning to hire as many as 256 managers for its retail banking business, while adding another 220 managers in the SME financing division. Some media reports too quote that IDBI Bank may recruit 176 assistant general mangers for the SME financing business.

Fuel prices to be cut after Dec 24: Deora

The government will cut petrol and diesel prices after Assembly elections are over on December 24, Petroleum Minister Murli Deora said on Tuesday, the FT reports. The crude price has been decreasing significantly. Earlier, Deora had reportedly told to reduce fuel prices provided the crude price drops below the $ 65 per barrel. Now the crude price at around $54 per dollar.

However the scenario internationally regarding the global crude price, but in India it is factor for elections. It's trump card and used at proper time. The fuel price will reduce only after the assembly elections are over and people need to wait untill 24 December to see the price down.

The election fever may give some relief to Aam Admi in form of a great reduction in the fuel prices after the assembly elections are over. There may be more offers during the general elections as parties are recalling the slogan of Aam Admi.

Wall Street crisis threatens 225,000 New York jobs

As many as 225,000 jobs could be lost in New York city and state due to the Wall Street crisis, state comptroller Thomas DiNapoli has said. The report predicts 48,000 job cuts in New York city's financial services sector, 38,000 of them in the securities industry, the ET reports.

It is the time of global crisis and US is the worse hit not doubt in that. This is very hard time for the economy, as there will be job cuts despite cost cut measures. by companies. The global crisis debacle the world economy. Countries have been adopting measures to minimise the damage due to the global crisis and the job cuts by companies would be big measure.

The job cuts in US will have big impact on India outsourcing too. Earlier it was speculated that the India outsourcing sector would not be hurt due to the global crisis. But the present scenario in US might be alarming the outsourcing units in India. Even the news about job cuts reported in India, but the not as the bulk as reported in US.

Axis Bank to venture into MF business: BS

The country’s third-largest private sector lender Axis Bank is all set to enter the mutual fund business in the next six to eight months. According to media reports, the bank has also received the in-principle approval from the Securities and Exchange Board of India(SEBI) to set up its won asset management company (AMC).

In order to set up a AMC, a company requires a minimum capital of Rs 10 crores as per the SEBI regulations. Axis bank would be the 36th AMC in industry and the bank already got approval from the Reserve Bank of India (RBI) for the setting up its own AMC. The bank plans employ 500 people in order to manage and distribute mutual funds.

Economic growth to slow, outlook robust - govt

Business News: India's economy is likely to slow this fiscal year but growth of 7-8 percent will still be among the best given the financial crisis and a slowdown in major nations, the finance ministry said in a report on Monday. The version of the finance minister is clear, earlier the Chairman of SEBI had said that India would recover from the global crisis very soon, according to media reports.

The impact of the global crisis on India economy will affect the growth rate, which was expected to excel by end of this year. Once there were speculations of achieving the dual digit growth rate. But due to the global crisis that would not happen. Since the world economy is being affected by the global crisis and some major economies went into the recession. This would be great sign of development if the Indian economy would recover well and fast from the ongoing global crisis.

SBI inks pact with AIG for general insurance business

The State Bank of India (SBI) has inked an agreement with Insurance Australia Group (IAG) to form a joint venture for entering into general insurance business in the domestic market. Under the JV agreement the SBI would hold 74% stake in the new entity, according to media reports.

In India, major state run insurance companies in general insurance business are United India Insurance, New India Assurance, Oriental Insurance and National Insurance. The private sector insurers, including Bajaj Allianz, ICICI Lombard, IFFCO-Tokio General Insurance and Reliance General Insurance, are playing vital role in the general insurance business. These companies including the state run and private companies have been proving various insurance policies.

India to recover fastest among global economies: CB Bhave

CB Bhave, Chairman of the Securities and Exchange Board of India (Sebi) says that Indian economy will recover from the global crisis very quickly. According to Bhave, Indian economy is however related to the global economy through the trade but it will recover very soon. The global economy is reeling under the pressure of global crisis.

It is expected that the global slowdown may not persist for long time but the impact will also be high even though it stays for short time. Countries have been going into recession and big companies on the path of bankruptcy. Cost cut measures are the only option for the companies to survive from the impact of the global crisis.

However, the crude price has been decreasing and the inflation is also sliding in India. The impact of the global crisis may end at certain point of time. People considering these factors in wait for government signal of declining the fuel prices. Earlier, the Prime Minister has indicated of not cut in fuel price but recently the crude traded below $ 50 a barrel. Hope there will soon cut in fuel prices in India.

Dabur acquires 72% stake in Fem Care Pharma Ltd

Dabur India the FMCG major of the country on Friday has acquired majority stake in Fem Care Pharma Ltd (FCPL), a Mumbai based company. FCPL is a leading player in the women's skin care products market. Dabur India paid Rs 203.7 crore in an all-cash deal in order to acquire 72.15 per cent stake in the FCPL, according to media reports.

The company said it had acquired 72.15 per cent stake in FCPL and would make an open offer for an additional 20 per cent shares as required under the takeover regulations. The products by the Fem Care includes fairness bleach, hair remover and liquid soap under the Fem brand. The Fem products are well known in India.

Inflation dips further to 8.90 per cent

The inflation dips further to 8.90 per cent for the week ended November 8. The inflation was recorded previous week was 8.98 per cent. Inflation has been decreasing significantly and will be a god sign for the economy.

The slide of the inflation rate will be great respite for the country and the government. As inflation blues would be a difficult task to manage the vote bank for many parties.Recently, the Deputy Chairman of the Planning Commission of India, Montek Singh Ahluwalia said the inflation had been softening and this would be soften further.

The global crisis would be the major cause of concern for the economy. The inflation however may ease the pressure of high prices in the market. The impact of the global crisis on the stock trading and market need to be checked at this time.

Rupee hit a record low of 50.60 per Dollar

The rupee hit a record low of 50.60 per dollar on Thursday. At 11 am on Thursday the rupees dip further against the US dollar, rupee was at 50. 49/50 per dollar. While rupee was closed at 50.02/03 on on Wednesday. It was a record low of 50.50 in the early trade, while it was set a a record of 5.29 in late October this year. While the dip of the rupees was stopped due to the intervention by the state -run banks on behalf of the Reserve Bank of India (RBI).

Maruti launches A-Star at Rs 3.46-4.11 lakh

Maruti Suzuki India today launched its compact B-segment car 'A-Star', which is priced between Rs 3.46 lakh to Rs 4.11 lakh ex-showroom in Delhi for different models. Maruti A-Star is a light weight vehicle with 998cc K10B petrol engine.

In the small car segment, Maruti A-star is the one of the best in class fuel-efficient cars. Maruti A-Star gives mileage of 19.59 kilometers per litre, as tested by ARAI, Pune, country's premier automotive research agency.

Built on a brand new platform, the A-star is an excellent city car with best in class turning radius, power, minimum gearshifts and performance. A-star is truly a green car with no compromise.

Lay-off and Job Cuts in India?

The impact of the global meltdown on Indian economy is clear further. the result will be more lay-offs and job cuts. That the Manpower Inc reportedly predicted that Indian job market will shrink by around five per cent. Manpower is a Canada-based employment agency, which has provided job placements to about 21,000 people in India and around five million globally to almost 400,000 of its clients worldwide, according to media reports.

Major companies have been adopting cost cutting measures. Global the biggest news - the Citi group to lay off 53,000 is big shocking news for the banking sector in India. Probably this was the second biggest set back after the bankruptcy filled by the two major banks of US.

The finance minister has been assuring about the sound health of the economy. The coast cost measures by the companies may lead to lay-off, it seems. The picture of the lay-off by the companies will be clear further. As SAP Labs India is planning to make big cost-cuts. The company has asked its vendors to axe over 1,000 people contracted to it by December, according to media reports.

World’s biggest economies have been reeling under the pressure of the global meltdown. Japan goes into recession; probably the world economy has been experience the first global crisis of the era. This will lead to more job cut and lay-offs in the coming days in many countries including India.

SBI hikes rates on FCNR, NRE deposits

State Bank of India (SBI), the country largest private sector lender, has hiked interest rates on its foreign currency and rupee deposits by non-residents, with effect from November 17. For NRE (rupee) deposits for a duration of one year to less than two years, the rate has been increased to 4.92 per cent from the earlier 4.17 per cent, according to media reports.

For two years to less than three years and three years to five years, the rate has been raised to 4.41 per cent from 3.66 per cent and 4.89 per cent from the earlier 4.14 per cent, respectively. For FCNR (B) dollar-denominated deposits, the interest rate has been hiked to 4.17 per cent from 3.42 per cent and for two years and above but less than three years, the new rate is 3.66 per cent from the earlier 2.91 per cent.

G-20 Summit: Mixed bag for countries

The summit failed to produce any coordinated stimulus measures to rescue the world economy from a downturn, and as such was not likely to prevent further market turbulence in coming weeks and months, according to media reports. It was expected from the special meeting of G-20 summit, media report say.

It is clear now the nations like India and Chain have to play significant role in world economy. In the summit, the members have reportedly decided to fund and strengthen the International Monetary Fund and other international organizations. The details regarding the lending to these organizations are not yet disclosed, according to media reports.

SAP India Posts 46 Per Cent Jump In Software Revenue

SAP India continues to play its role with SAP Asia Pacific Japan (APJ), the global growth engine for SAP worldwide, with a double digit growth of 46 per cent in Software Revenue (in Non-GAAP constant currency) in the third quarter of 2008. Registering developments across each of its line of businesses including licence, consulting, education and support, SAP India continues to be the partner of choice for both existing and new customers, in the current troubled global scenario, according to media reports.

SAP is the world's largest business software company – with more than 51,800 employees at sales and development locations in more than 50 countries worldwide. As the global technology research unit of SAP, SAP Research significantly contributes to SAP's product portfolio and extends SAP's leading position by identifying and shaping emerging IT trends through applied research and corporate venturing. SAP Research has highly skilled teams in 11 research centers worldwide.

cat 2008: 2.5 lakh students to appear test on Nov 16

Over 2.5 lakh students, including 50,000 from the Delhi region, will write CAT 2008 (cat 2008) test on this Sunday - November 16 for around 1800 seats in the elite Indian Institutes of Management this year. The cat 2008 test is being held in 23 cities across the country. One of the in interesting news story on cat 2008 was reported "despite an unfolding global economic crisis, uncertainties about the pay-packets to be offered in the next placement season and the RC Bhargava Committee recommending a regulator to curtail their ‘autonomy’, at least one thing is clear to the seven Indian Institutes of Management (IIMs): the November 16 Common Admission Test (CAT) will make them richer by around Rs 23crore". The aspirants will have ambition to crack the exam to get into top elite institutes of India.

G20 Summit: major economies to discuss global crisis

The Group of Twenty (G-20, g20 sumit) Finance Ministers and Central Bank Governors was established in 1999 to bring together systemically important industrialized and developing economies to discuss key issues in the global economy. The G20 (g20 summit) is a forum for cooperation and consultation on matters pertaining to the international financial system. It studies, reviews, and promotes discussion among key industrial and emerging market countries of policy issues pertaining to the promotion of international financial stability, and seeks to address issues that go beyond the responsibilities of any one organization.

On Friday and Saturday, great leaders of the across the globe will discuss the world economic crisis. Prime Minister of India Manmohan Singh left for the US capital Thursday evening to attend the g20 summit. The Prime minister is accompanied by Finance Minister P Chidambaram, Planning Commission Deputy Chairman Montek Singh Ahluwalia and Economic Affairs Secretary Ashok Chawla, among others. The discussion at the g20 summit has significance as the world economy is reeling under the financial crisis and global slow down.

Cities that have hosted the G20 Summits

• 1999: Berlin, Germany
• 2000: Montreal, Canada
• 2001: Ottawa, Canada
• 2002: Delhi, India
• 2003: Morelia, Mexico
• 2004: Berlin, Germany
• 2005: Beijing, China
• 2006: Melbourne, Australia
• 2007: Cape Town, South Africa
• 2008: São Paulo, Brazil
• 2008: Washington, D.C., USA Special Meeting on November 15th 2008

Future hosts of G20 Summits

• 2009: Madrid, Spain
• 2010: Nairobi, Kenya
• 2011: New Zealand
• 2012: United Kingdom
• 2013: Bali, Indonesia
• 2014: Jeddah, Saudi Arabia

FM assures more loans for real estate developers

Considering the worse hit to the real estate sector, the Finance Minister has assured the real estate developers that government will approach banks for fast lending. The slow down has also affected the real estate sector in India. The impact was seen on the lending to the real estate developers by the banks.

A delegation of builders under the Confederation of Real Estate developers' Association of India (Credai), met Finance Minister on Wednesday to complain against banks' reluctance to disburse loans to the real estate companies, according to media reports. In order to check the liquidity crisis the apex bank has restructured the interest rate from 8 per cent to around 12 per cent. This is the major reason which affected the real estate sectors during this market slow down, which led to rise in the prices of real estates assets.

Singapore Exchange Limited (SGX)

Singapore Exchange Limited (SGX) is Asia-Pacific's first demutualised and integrated securities and derivatives exchange. The merger of the Stock Exchange of Singapore (SES) and the Singapore International Monetary Exchange (SIMEX) resulted the formation of Singapore Exchange Limited and this institution was inaugurated on 1st December 1999. SGX became the first exchange in Asia-Pacific to be listed via a public offer and a private placement on 23rd November 2000. The SGX stock is a component of benchmark indices such as the MSCI Singapore Free Index and the Straits Times Index. It is very difficult to compare the trading of sgx with nifty.

The exchange has also been attracting foreign investors towards its listings besides the domestic investors. SGX has been emering one of best exchages in the Asia-Pacific's. Recently, Singapore Exchange (SGX) on Thursday has issued a consultation paper seeking public feedback for a permanent penalty framework for failed share delivery. The exchagnes like SGX Nifty are also affected due to the global meltdown. The trading at sgx nifty are traded low during the slowdown.

AP State Police website : http://www.apstatepolice.org

Many aspirant have been looking for their results of the PC recruitment 2008. If you are one of them, here are the details about the websites through which you can get the complete information. These websites will provide you the complete information what you are looking for. Andhra Pradesh Police exams and results can also be obtained from these websites.

http://result1.appolice.gov.in/SLPRB/index.jsp
Andhra Pradesh Police recruitment results,

www.apstatepolice.org

Xerox India names Mark Pettit as executive director of XGS

Mark Pettit has been appointed as Executive Director for Xerox Global Services, the consulting and outsourcing division of Xerox with immediate effect. Xerox Global Services provides a wide range of consulting and technology services in the client communication and document management space in order to help companies drive more effective client communication cut costs and accelerate ROI growth. Under his role, Pettit will be spearheading the XGS business in India and South Asia. He will be responsible for managing a team of consultants and document management experts to solve critical business challenges across a broad portfolio of services including document outsourcing, client communications services, consulting, systems integration, imaging and content management.

Inflation eases to 8.89 per cent: A Big relief

The inflation has come down to 8.89 per cent from 10.72 per cent. There was dip of around 1.5 per cent this week. This is a relief for the government and the Reserve Bank of India; those are now tackling to check the liquidity crisis. The annual rate of inflation was recorded 12.91 per cent in August 2, 2008. But the major concern of the global crisis still prevails; the slow down in the demand for the steel has compelled companies to adopt cost cut measures.

The demand for the steel has also been low these days. The measure taken to check the liquidity crisis are however effective in the restructuring the banking sector. The fall in the inflation rate was unprecedented. On the contrary, it may be velocity of the currency during the liquidity crisis helped the inflation rate to down.

Japan’s DoCoMo acquires 26% stake in Tata Tele

Japan’s largest mobile operator NTT DoCoMo on Wednesday picked up a 26 per cent stake in the Tata Teleservices (TTSL) for a consideration of $2.7 billion or Rs 13,070 crore, despite the global crisis, according to the media reports. This deal would value TTSL, with its customer base of 30 million, at over $10 billion. DoCoMo has been looking to enter the Indian markets for quite some time now. In December 2006, NTT DoCoMo, and the erstwhile Hutchison Essar (Hutch) had entered into an agreement under which Hutchison Essar was supposed to launch the i-mode mobile Internet service in India in 2007. However, the launch never happened as Vodafone acquired a 67 per cent stake in Hutchison Essar for $11.1 billion in February 2007. Source

Impact of The Global Meltdown: Huge Loss For Top Business Icons

According to the report, Mukesh Ambani and Lakshmi Mittal led India's richest in losing $200 billion this year as the global financial crisis triggered a plunge in stocks and property values, Forbes Asia said. The combined wealth of India's 40 wealthiest people slumped 60 percent to $139 billion, according to media reports. Mittal, 58, lost his top position to Mukesh Ambani of Reliance Industries Ltd. Mittal lost $30.5 billion after the world's biggest steelmaker ArcelorMittal extended production cuts. The net worth of Mukesh Ambani, 51, dropped 58 percent after demand for petrochemicals made by Reliance Industries slumped and oil refining margins shrank, according to media reports.

The impact of the global meltdown is very high on Indian economy and market. In the case of small investors of the stock markets in India, they are the worse hit. Moreover, the transactions by these small investors are high but any loss to their investment would have huge impact on their earnings. It is very hard for them to recover from the impact of the global meltdown. It is only expected the markets will cheer once again only hope is there for the investors of the stock market across the globe.

Food Corporation of India - A profile

The Food Corporation of India was setup under the Food Corporations Act 1964, in order to fulfill objectives - effective price support operations for safeguarding the interests of the farmers, Distribution of food grains throughout the country for Public Distribution System; andMaintaining satisfactory level of operational and buffer stocks of food grains to ensure National Food Security. Since its inception in 1965, having handled various situations of plenty and scarcity, FCI has successfully met the challenge of managing the complex task of providing food security for the nation.

A strong food security system which has helped to sustain the high growth rate and maintain regular supply of wheat and rice right through the year. The efficiency with which FCI tackled one of the worst droughts of the century not only cemented its role as the premier organization in charge of food security in India, but also brought it accolades from international organizations. Today it can take credit for having contributed a great deal in transforming India from a chronically food deficit country to one that is self-sufficient.

Source

NSE BSE Holidays for 2008

India Stock Market Holidays 2008
Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) of India remain close for trading on following days. BSE Holidays 2008 / NSE Holidays 2008
BSE Holidays 2008 / NSE Holidays 2008
Date Holiday

• 6th March 2008 Mahashivratri
• 20th March 2008 Id-E-Milad Friday
• 21st March 2008 Good Friday / Holi
• 14th April 2008 Ambedkar Jayanti
• 18th April 2008 Mahavir Jayanti
• 1st May 2008 Maharashtra Day
• 19th May 2008 Buddha Purnima
• 15th August 2008 Independence Day
• 3rd September 2008 Ganesh Chathurthi
• 2nd October 2008 Ramzan Id / Gandhi Jayanti
• 9th October 2008 Dasera
• 28th October 2008 Diwali (Laxmi Pujan)
• 30th October 2008 Diwali (Bhaubeez)
• 13th November 2008 Gurunanak Jayanti
• 9th December 2008 Bakri-Id
• 25th December 2008 Christmas

bsnl data card for your laptop

Getting high speed internet for your laptop is a dream in India. But the BSNL has bee providing data card through which you can access the internet using the bsnl data card. Out of two types of bsnl data cards, the EVDO is on the best options while the other NIC is not faster as you think. The BSNL Data Card is the best option for the people using laptops. The reviews of the bsnl data card suggests mixed reaction from the users. On an overall point of view the its very good to have bsnl data card for your laptop.

American Express to Become Bank Holding Company

American Express now to become Bank Holding Company. The Federal Reserve has approved the request from American Express to bank holding company. Now the American Express is accessible to low-cost financing from the Fed, according to media reports. The Fed said it had approved the application for American Express and a related company, American Express Travel Related Services, to become bank holding companies. This could be a major decision by the Fed to restructure the financial services industry, which is undergoing its worst credit crisis in decades. In announcing the action, the Fed said “emergency conditions exist that justify expeditious action on this proposal.” Source

What is inflation?

Inflation is a state where the prices of commodities increase and the value of money decreases. This is a common phenomenal but the psychological aspect made this as giant problem. The prices have been increasing with power of the expenditure increase in contrast to the volumes of demand and supply. In the market any fluctuation in the demand or supply forces results in the price rise or decreases. The price rise is known as inflation and the price fall can be said as deflation. But so far there is no sign of deflation in the nation. The inflation states rise in prices. In common man language inflation refers to the rise in the prices of commodities. The apex bank takes measures to check the liquidity or the velocity of the currency to check the inflation.

CAT on Nov 16; IIMs set to be richer by Rs 23 crore

The news story reports "despite an unfolding global economic crisis, uncertainties about the pay-packets to be offered in the next placement season and the RC Bhargava Committee recommending a regulator to curtail their ‘autonomy’, at least one thing is clear to the seven Indian Institutes of Management (IIMs): the November 16 Common Admission Test (CAT) will make them richer by around Rs 23crore". The Common Admission Test is the core for the management aspirants and keeping the global meltdown in the scenario students may be interested to top the exam rather in finding out the impact of global crisis on Indian economy. Of late there is a impact on India economy due to the global crisis, but those have been practising hard to crack the exam, might not be interetd take a back step. Their aim must be to crack the CAT. As this will give them the best place to study and from there they can ignite their dreams.

CAT exams are the most important and crucial for the aspirants as well for the institutes. The CAT scoring is on the tough test for the aspirants to join management stream. In order to crack the CAT the students have been on a pace in their preparations. Of course there is global meltdown and the crisis has also affected the campus selections at IIMs but the present scenario will change. The global economy has been recovering from the slowdown and credit crisis. Since, it is the first global impact on India from the globalization. The slowdown and credit crisis may have impact on the economy but for temporary, as the finance minister has also assured about Indian financial system many times. It is time for the management aspirants to crack the exam and retain a good position to get through the best courses in management stream in India.

Goldman cuts India's FY09 growth forecast to 6.7%

Goldman Sachs cut its growth forecast for India citing "larger-than-expected shock" to the financial sector over the last couple of months, and its knock-on effects on both domestic and external demand. The brokerage lowered its GDP growth numbers for FY09 to 6.7 per cent from 7.5 per cent and for FY10 to 5.8 per cent from 7 per cent, Goldman said in a research note today, according to media report. It is the impact of the global crisis that has been there for long time. The US crisis is the biggest factor concern for the Indian industries and corporate. The reports also note that the corporates will be hurt.

The fianancial Astrologer Ashok Motiani predicts Sensex to reach 16,000 points by Feb’09

According to the Financial Astrologer Ashok Motiani, the worst is over for the Indian stock market and by next year the market will back on track again. He expects the market to go much higher from here on. He sees the Sensex at around 15,000-16,000 levels within four months time. If you are investor and believer of astrology then the perdition of Ashok Motiani will bring your much more profit from the uncertain stock market. He predicted that the market will bounce back to 16,000 marks by the February 2009. This would be very favorable for the investors those have not sold their stock due to the panic of the stock crash due to the global sentiments.

The stocks and the market sentiments always good for the long term speculations and the investment of long terms bonds have less impact of the present market sentiments. In a short-run the market may be volatile but the in long-run there will be less impact on stocks and investment. The forthcoming months, the investors of all kinds of stock might follow the wait-watch policy, and this is also good for their financial health. The global meltdown has impact on the Indian stocks as the FIIs are the major sellers. Moreover, there were reports of decrease in the private equity in the market. However, the government of India and the Reserve Bank of India have been taking measures to check the impact of the global crisis. If the market is up around 16,000 marks then this would be a great sing of being bailed out from the global crisis and cheer up time for the investors.

Noida Authority Online, Official Website

When you are about to open the site Noida Authority Online official site there will be message ‘This site may harm your computer’. Despite, many will be trying to access the official site of Noida Authority. According to unconfirmed reports, the Noida authority had reportedly published advertisement regarding the plot Scheme 2004(1) and it draws results. Probably, the schedule date for the reported draws was 4 to 7 November.

Many people have been trying to get information about the same from the Noida Authority website. Moreover, in the purchasing plots and schemes to allot plots, who does not want to be apart of the schemes, if it’s a case of profit earning. It may be regarding getting plots from Noida Authority or from any of Noida Authority’s scheme. That is not a big deal, but the warning about the site is prime concern for all.

US carmaker Ford unveils entry-level sedan Ikon in India

US carmaker Ford today launched the new petrol and diesel variant of its entry-level sedan - Ikon - in India, priced at Rs 4.59 lakh and Rs 5.19 lakh (ex-showroom), Delhi, respectively, according to media report. The diesel variant of the new Ford Ikon would come with a 1.4 litre DuraTorq TDCi engine, while the petrol variant would be available with a 1.3 litre RoCam engine.

Ford Motor Company is the world's second largest automaker with approximately 350,000 employees, and operating in more than 200 markets on six continents. Its automotive brands include Ford, Jaguar, Lincoln, Mazda, Mercury and Volvo. Its automotive-related services include Ford Credit and Quality Care. The company's world headquarters is in Dearborn, Michigan.

IFFCO – A Farmer Friendly Group

Production and distribution of fertilizer is the main function of the Indian Farmers Fertilizers Cooperative Limited (IFFCO). IFFCO is the world’s largest fertilizers cooperative based in India. IFFCO is registered as a Multistate Cooperative Society.During the 1960s the cooperative sector in India was responsible for the distribution of 70 per cent of the fertilizers consumed in the country.

Now more than 37,700 cooperative societies have been associated with IFFCO, where as the number was just 57 in 1967. IFFCO was registered on November 3, 1967 as a Multi-unit Co-operative Society. IFFCO is primarily engaged in the production and distribution of fertilizers. The bylaws of the Society provide a broad frame work for the activities of IFFCO as a cooperative society. The society has recorded an all time high turnover of Rs. 7224 crore and harvested a pre tax profit of Rs. 470.9 crore during the year 2004-05. It has paid dividends for the year 2004-05 at the rate of 20 percent of the paid up equity to its shareholders for the fourth consecutive year. Source

Jindal Steel Works to continue Salboni project

The Salboni project of Jindal Steel Works would continue despite the blast went off on Sunday. According to media reports, Jindal Steel Works has no plans to change the implementation schedule of the project inaugurated at Salboni on Sunday, in the wake of the mine blast by suspected Maoists. It was dread attack near the project site of Jindal Steel Works.

The Jindal Steel Works project is being set up on 4,500 acres of near-barren land at Salboni in West Medinipur district in West Bengal. The blast damaged the pilot car of the convoy carrying Union Steel Minister, the Minister of State, West Bengal Industry Minister and also Sajjan Jindal and his brother Navin Jindal MP. The Jindal Steel Works signed the agreement for setting up a 10-million tonne steel plant with the West Bengal Government in January 2007. The Jindal Steel Works aims to invest Rs 35, 000 in the Salboni project. Source

Bhimsen Joshi to get Bharat Ratna

Celebrated vocalist Bhimsen Joshi has been honoured with the Bharat Ratna, the most prestigious award in India. In past years he has received several awards like Padma Shree, Padma Bhushan and Padma Vibhushan. At the age of 11 Bhimsen Joshi left house and dedicated himself in singing. Bhimsen Joshi believes in himself and proved his mastery in singing. His first album was released when he was 20. His first album was featuring bhajans in Kannada and Hindi. Being honoured with several awards, Bhimsen Joshi is known for starting an annual classical musical festival in the memory of his guru. Bhimsen Joshi is master of Indian classical music and the world recognizes the mastery of Bhimsen Joshi.

Awards conferred to Bhimsen Johi:

• Bharat Ratna in 2008
• Karnataka Ratna in 2005
• Maharashtra Bhushan in 2002
• Padma Vibhushan in 1999
• First platinum disc in 1986
• Padma Bhushan in 1985
• Sangeet Natak Akademi Award in 1976
• Padma Shree in 1972

Bharti eyes $10-b revenue by next year, unveils new logo

Bharti Enterprises is on track to have revenues of $10 billion by next year, its chairman and group CEO Sunil Mittal said on Monday while unveiling the group’s new brand identity and logo, its third since its inception in 1995. The Bharti Group had revenues of over $6 billion at the end-March 2008. Despite its failure to acquire Africa’s largest telco MTN earlier this year, Mr Mittal said that Bharti continued to be open to acquiring foreign telcos while adding that it had not identified any possible targets yet. Source

PM may discuss slowdown with exporters this week

The global meltdown will have impact on the Indian export sectors and its time to review the export sector. According to media reports, the Prime Minister Manmohan Singh may meet leading exporters this week. However there is no schedule is not finalized yet. The Indian banks are not accepting Letter of Credit of foreign banks and this is the concern for the export sector in India.

The global crisis is everywhere and almost all the sectors have been badly affected. There are sings of recovering seen across the world from the global crisis. The month of October and November are the very important for the exports are they will need to meet the Christmas season demands in the foreign markets. Any fluctuation at this juncture would prove a major loss for them.

Interest paid to foreign co on convertible debentures taxable in India

The Authority for Advance Rulings (AAR) has ruled that the interest paid to a foreign company on convertible debentures constitutes the foreign company’s income and is liable to be taxed in India. Indian companies raise foreign currency denominated funds in the form of external commercial borrowings (ECBs), which are considered as pure loan and the borrowings through foreign currency convertible bonds (FCCBs) have option to convert them into equity of the company upon their maturity. Now that will be considered as income and to be taxed in India. Indian companies are expected to redeem around $45 billion of foreign debt by December 2009, which they had borrowed for domestic expansion and overseas acquisitions, according to media reports.

Global financial crisis hits infrastructure investments in India

Investment flows into infrastructure have been hit as a result of the global financial crisis, the Planning Commission Deputy Chairman says Montek Singh Ahluwalia the Deputy Chairman of Planning Commission, according to media reports. Ahluwalia said the fiscal deficit is going to be more due to the unexpected costs borne by the system.

It is the impact of the global crisis the hit the investment scenario in India and the world. In India the flow of the foreign investment has come down due to the global crisis and the foreign investors have been withdrawing their investment from the market. The investment is the key for the all the sectors of economy to cherish. However, the fact can’t be denied that there in huge impact of the global meltdown on Indian economy, as the RBI is projecting a growth rate of seven percent.