Issue No. 59 Evening Edition IST
Corporate World . Politics . Investment Opportunities in India ...
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- Currency Futures off to a flying start
- 51% Indians will go mobile by 2012
- GDP hits 7.9% in Q1, slowest in three years
- Govt secures retired life for all Indians
- Our readers find Google Ads on this page very informative
- Stir forces Nano shutdown
- Icy Spicy : ‘MISSED’ call for Hrithik
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Life is a series of experiences, each one of which makes us bigger, even though sometimes it is hard to realize this.
- Henry Ford
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SENSEX: 14,564.5, DOWN 31.3 % from 52-wk high
FOREX: USD 43.75 / EUR 64.52 / GBP 80.11
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Currency Futures off to a flying start (ET-30Aug08)
THE CURRENCY FUTURES MARKET got off to an impressive start on Friday. Corporates, proprietary books of brokers and retail investors ensured better volumes. Most players expect the US dollar to trade weak in the coming weeks. Dealers attribute this positive outlook on the rupee to RBI’s intervention in the currency market, when the rupee fell to 44.15 a dollar.
GDP hits 7.9% in Q1, slowest in three years (ET-30Aug08)
INDIAN economy grew by 7.9% in the first quarter (April-June) of the current fiscal, the slowest in the past three-and-half years. The economy had grown by 9.2% in the first quarter of 2007-08. This tallies with the Prime Minister’s Economic Advisory Council’s growth forecast for this fiscal at 7.7%.
Significantly, growth in investment expenditure has fallen to 9%. Investment growth had been in double-digit numbers all from FY04 to FY08. However, fixed capital formation remains strong at 32.3% of GDP, against 32% a year ago.
Govt secures retired life for all Indians (ET-30Aug08)
INDIA’S pension sector has been opened up a notch wider. The New Pension Scheme (NPS), now restricted to government employees, is set to be extended to individuals working outside the government.
Union finance minister P Chidambaram on Friday said that the finance ministry had advised the pensions regulator, the Pension Fund Regulatory and Development Authority (PFRDA), to open up the scheme to private citizens also.
For news in detail, visit The Economic Times ePaper
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Stir forces Nano shutdown (TOI-30Aug08)
Tatas To Decide On Singur Exit By Next Week
Is it the end of the road for the Tatas at Singur? On Friday, the company management decided to evacuate all its manpower from the Nano auto plant. None of the 800-odd engineers and executives, none of the workers, reported for work, ostensibly in light of Trinamul leader Mamata Banerjee-led agitators’ threat to physically prevent Tata employees from entering the plant.
Company sources, however, said Tata chairman Ratan Tata and his top aides were set to make a “final assessment’’ by next week on whether the time had come to “walk the talk’’ and carry out the threat of pulling out from West Bengal. In the same breath, though, the sources said that it would be “premature’’ to therefore assume that the extreme measure would be taken.
51% Indians will go mobile by 2012 (TOI-30Aug08)
With 8-10 million new subscribers every month, every second Indian will own a mobile by mid-2012, a London based research firm has said.
For news in detail, visit The Times of India ePaper
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Icy Spicy
‘MISSED’ CALLFOR HRITHIK (BT-30Aug08)
Actor fails to make it to international list of celebs who add star power to their cell phones
Move over, Ambanis and Mittals. Make way on the The Forbes List for Bollywood’s Aamir Khan, Abhishek Bachchan and Shah Rukh Khan. The three stars, who endorse Samsung, Motorola and Nokia respectively, are counted among international sport stars Maria Sharapova and David Beckham, singers Usher, Fergie, Rain and Andy Lau, and race car driver Danica Patrick for adding star power to mobile phones. But in the list of Ten Celebs and Their Cells, Hrithik Roshan, the Sony Ericsson brand ambassador, is missing. This, it appears, ties with the hunk no longer being part of the cell phone’s ad campaigns. And being blamed for his non-inclusion is a tune from the Roshans’s last film, Krazzy 4.
The cell phone company reportedly severed ties with Hrithik after Ram Sampath (who composed the jingle for the cell’s The Thump campaign) sued the Roshans for Rs 2 crore after his tune was used in Krazzy 4 songs and the background score. Rajesh Roshan, music composer of the film, was credited for the songs. Sampath won the case. Hrithik, who is shooting for Kites in New Mexico, was unavailable for comment. His manager Tanuja said, “Hrithik and Sony Ericsson have had a great working relationship. But now he is not part of any service provider or cell phone company. There are a lot of new companies that have ventured into the market and we are in talks with them.”
For news in detail, do visit Bombay Times ePaper
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