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Emerging India.
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Hand-picked News For Busy NRIs & PIOs
Issue No. 104 Evening Edition IST
Corporate World . Politics . Investment Opportunities in India
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Headline News in this issue:
- Economy will rebound by middle of next year – FinMin
- ‘IITians created 2 cr jobs in 50 years’
- Malegaon: Court blow to ATS
- Indian crew on hijacked ship back from ‘hell’
- Indian kills wife in US church
- IT biggies seek to log on to Chinese deals
- Icy Spicy : BIG B all praise for Ajay
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SENSEX: 8,695.5 DOWN 59.0 % from 52-wk high
FOREX-Rs: USD 49.95 / EUR 64.19 / GBP 75.59
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Malegaon: Court blow to ATS (TOI,Mum,25Nov08,P1)
Police Denied Custody Of Key Accused, ‘Torture’ May Be Probed
In a major setback for the anti-terrorism squad, a special MCOCA court on Monday refused to grant it custody of key accused in the Malegaon blasts case.
The order came after the defence advocates vehemently argued that MCOCA (the Maharashtra Control of Organised Crime Act) was not applicable to the case, the accused had already been brutally tortured in custody and the ATS had come up with no new evidence to justify its fresh questioning.
“It is a big blow for the cops. Usually, police custody is granted by the courts but for such custody not to be given at the first remand itself is a serious matter,’’ said former IPS officer and lawyer Y P Singh while commenting on the developments. “I have never heard of such a thing. It is very rare,’’ he added.
Indian kills wife in US church (TOI,Mum,25Nov08,P1)
A 27-year-old immigrant from Kerala pumped bullets into his wife—who had left him, alleging torture—at a New Jersey church on Sunday.
Indian crew on hijacked ship back from ‘hell’ (TOI,Mum,25Nov08,P1)
After a gruelling two-month-long ordeal, five of the 18 Indian crew members aboard the hijacked ship M T Stolt Valor landed in Mumbai in the wee hours of Monday.
General steward Allister Fernandes and chief cook Isidore Fernandes headed for their hometown in Goa shortly after landing in the city, deck cadet Naveed Burondkar took the road to his village, Murud, near Ratnagiri, cadet Santosh Patil promptly hailed an autorickshaw to his house in Malad, and pumpman Omprakash Shukla, who had fractured his leg after a fall on the ship, was also anxious to get to his Kalyan home.
With swollen eyes and tired smiles, they paused for the cameras before carting away their half-empty trolleys—most of their personal belongings had been appropriated by the pirates.
After the months spent in captivity, they were reticent and loath to talk about their ordeal. Their experience of the hijack and memories of being pushed to the brink of suicide with no hope of escape were clearly not what the crew wanted to relive.
For news in detail, visit The Times of India ePaper
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Economy will rebound by middle of next year (ET,Mum,25Nov08,P1)
NO RECESSION HERE, SAYS CHIDAMBARAM
INDIA’S economic growth will rebound by the middle of next year, after expanding at a slightly slower pace this financial year, because of the ripple effects of various stresses in the global economy, finance minister P Chidambaram said.
Although the government has already forgone revenue worth Rs 31,000 crore through tax cuts, it is open to doing more to stimulate the economy if needed, the minister told an annual conference of economic editors here on Monday.
IT biggies seek to log on to Chinese deals (ET,Mum,25Nov08,P1)
Indian IT majors are looking at Chinese banks which plan to spend around $7.6 billion on IT next year to beat the slowdown in spending in the US and Europe.
JET MAY EASE OUT EXPAT PILOTS (ET,Mum,25Nov08,P1)
Jet Airways is likely to cut the number of foreign pilots following the tough stand taken by their Indian colleagues. The company is unlikely to renew the contracts of 35 expats when they expire on January 1.
‘IITians created 2 cr jobs in 50 years’ (ET,Mum,25Nov08,P6)
THE first IIT alumni impact study has outlined the contribution made by IITians for economic value addition, job creation and managing huge budgets over the past 50 years in India and abroad.
Contrary to common perception that IITians take more than they give to the society, the study highlighted the economic impact created by them in terms of wealth creation, social transformation.
The impact study looked at how to enhance the contribution made by IITians, on an individual and collective basis. The study pointed that over the past 50 years, IIT alumni was involved in the creation of two crore jobs.
They hold senior positions across industries and governments with budgetary responsibility for over Rs 40 lakh crore ($885 billion). They are associated with incremental economic value creation of Rs 20 lakh crore ($450 billion).
For news in detail, visit The Economic Times ePaper
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Icy Spicy
BIG B ALL PRAISE FOR AJAY (BT,Mum,25Nov08,P36)
Recently Amitabh Bachchan in his blog went all out in praise of Ajay Devgan with whom he shot for the film Teen Patti: “The crowds below are swelling. The police has been informed to bring order. It’s a hundred meter walk from the ground door to the van. It’s a gauntlet. The masses explode and cheer and applaud. I feel elated and swell my chest.
Hey! At 67, not bad to still demand such recognition. It’s then that I notice another fancy vanity van. It’s Ajay Devgan’s. Yes of course. He is playing a day’s guest appearance today. Damn! And I thought the crowds were for me. Sad. But happy for Ajay...
“We all live within feet of each other. Ajay and Kajol now 10 metres away from my boundary wall in Jalsa. Opposite him, 6 metres away, Dharamji, Sunny and Bobby. They share common boundary wall with Yash Chopra, Adi Chopra... and we never see or meet each other!! Ajay called on phone after about eight months when we were in the same hotel in London. I was presenting the Lifetime Achievement Award to Dharamji in Yorkshire, England, where I met him after years!! Ha..Ha..
But I know and they know that any time they need me or I them, we will be the first to come together!!
For news in detail, do visit Bombay Times ePaper
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END OF THE DAY STATUS OF THE STOCK MARKET:
Sensex went up by 5.5 % today.
SENSEX: 8,695.5 (-2.3%) NIFTY: 2,654.0 (-2.0%)
DOWN..59.0 % from 21,206.77 the 52-week high of SENSEX.
UP...........1.5 % from 12,514.02 the 52-week low of SENSEX
Investment & Wealth Creation Advice:
As indicated by us a few weeks ago, Sensex has come down substantially. It is expected to go down further by about 1000-2000 points in the next few weeks. However, nobody can ever predict how much it will go down further.
You should now consider making systematic investments over the next few weeks after taking investment expert's advice. If you are planning to invest amount X in the next couple of months in equity shares / mutual funds, then invest 10% of the amount now, as the market may go down further. After a week or so, you could invest another 10% and so on.
If you make investments in the right shares and mutual funds when the market is at 10000 or lower levels, you can expect minimum 20% (post-tax) compounded annual returns in the next 3 years.
Click here to display NSE CNX NIFTY Chart
Disclaimer: Please make all your investments after taking expert advice. NRI.NewsIndia will not be responsible for losses, if any, incurred by you. Through NRI.NewsIndia, we are only making you aware of the investment opportunities in India at a broad level.
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