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From
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Emerging India.
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Hand-picked News For Busy NRIs & PIOs
Issue No. 111 Evening Edition IST
Corporate World . Politics . Investment Opportunities in India
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Headline News in this issue:
- Omar to head NC-Congress govt in J&K
- J&K poll result leaves Pak media cold
- Rajus may no longer be Satyam promoters
- Rolta acquires US co
- Scientists, engineers get listed on India Inc’s temp charts
- IcySpicy: ‘I feel like an Indian princess’ - Britney Spears
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SENSEX: 9,716.2 DOWN 54.2 % from 52-wk high
FOREX-Rs: USD 48.44 / EUR 68.27 / GBP 70.29
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Omar to head NC-Congress govt in J&K
National Conference chief Omar Abdullah will be the next chief minister of Jammu and Kashmir heading a coalition government with the Congress party. This was decided after Omar met Congress president Sonia Gandhi on Tuesday afternoon. Congress and NC were part of an alliance in J&K in 1987.
J&K poll result leaves Pak media cold
For a country obsessed with the K word, the Pakistan English media was spectacularly reticent on the outcome of the Jammu and Kashmir election. Newspapers either ignored it or dismissed it in small news items.
http://timesofindia.indiatimes.com/Omar_to_head_NC-Congress_government_in_JK/articleshow/3912539.cms
Rajus may no longer be Satyam promoters (TOI,Mum,30Dec08,Pg1)
Hyderabad: The Satyam saga is lurching from one debacle to another. In a day of rapid developments, it transpired on Monday morning that the promoters of Satyam Computer Services may no longer be the single largest shareholders.
This was followed by three heavyweight independent directors resigning from the company’s board, raising questions about Satyam’s future. It has also fuelled speculation about whether a new management will now step into the vacuum.
Weight-loss pill banned (TOI,Mum,30Dec08,Pg1)
The FDA has banned the weight-loss pill rimonabant after research showed it was causing psychiatric side-effects like suicidal tendencies among its users.
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Rolta acquires US co (ET,Mum,30Dec08,Pg1)
IT firm Rolta has acquired Chicago based Piocon Technologies, which has customers in the oil & gas sector, for an undisclosed amount. The acquisition gives Rolta access to solutions that address critical operational needs of refineries.
India may soon face a sugar shortage (ET,Mum,30Dec08,Pg1)
India may soon be producing less sugar, the first time in four years, to meet domestic consumption needs. Last week, the government had hinted it would import 3.50 lakh tonne in the 2008-09 season.
There is confusion over production and stock figures on the part of the government as well as the industry. The current estimated output could be anywhere between 18 million tonne and 21 million tonne. The average domestic consumption of sugar in India is at around 22-23 million tonne.
Scientists, engineers get listed on India Inc’s temp charts (ET,Mum,30Dec08,Pg1)
Energy, Healthcare And Pharma Among Sectors Hiring Temps For Specialised Roles
INDIAN companies are increasingly resorting to temporary hiring of highly skilled professionals, such as scientists and engineers, as they try to rein in costs in a slowing economy, staffing firms and human resource management professionals say.
RCOM raises $1.5 b for GSM rollout (ET,Mum,30Dec08,Pg1)
Reliance Communications has raised a fresh line of credit of $1.5 billion from leading international export development banks to fund the rollout of its national GSM services. This is the largest debt mobilisation by an Indian telecom company in the past two years.
Air India to reduce fares from Jan 1 (ET,Mum,30Dec08,Pg20)
A day after Kingfisher Airlines announced a fare cut, national carrier Air India on Monday announced a similar fare reduction from January 1.
Tata Motors closes Pune plant for three days (ET,Mum,30Dec08,Pg20)
PUNE: Tata Motors here announced a three-day “block closure” of its Pimpri-Chinchwad plant effective from Monday. The shutdown will be in force in the commercial vehicles section while work in the passenger vehicle segment will continue normally, company sources said.
It is the third time in the last two months that the company has effected a partial and periodic closure of its plant following a slump in demand.
For news in detail, visit The Economic Times ePaper
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IcySpicy
‘I feel like an Indian princess’ (BT,Mum,30Dec08,Pg1)
Here is the latest on Britney Spears who is in Jodhpur currently with Mumbai dance choreographer Sandip Soparrkar. He had put the pop diva through her paces in her new music video Womanizer, and has now become her friend.
Britney, who had heard enough about the attractions of Rajasthan from her father and friends to chuck all plans of spending New Year in LA and fly down to India, is excited to be here.
“Rajasthan is an amazing place,” she told BT, “and I feel like an Indian princess in this ghagracholi with gold work that Sandip gifted me.” Plus, there’s the Rajasthani cuisine which has struck the right spot with Britney’s tastebuds. “I love the dal baati churma, I believe it’s typical Rajasthani, it’s also very oily... but I’m on a holiday — so let me enjoy my days.”
As for speculation of the two being in a relationship, the singer was not very forthcoming. “Sandip and I have decided to spend New Year together. I wish the media would not probe our relationship till we wish to bring it out in the open,” she said. Which could mean anything. Or nothing at all if Jesse Randhawa, Sandip’s favourite dancing partner, is also with them in Jodhpur.
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 3.7 % today.
SENSEX: 9,716.2 (+1.9%) NIFTY: 2,979.5 (+2.0%)
DOWN..54.2 % from 21,26.77 the 52-week high of SENSEX
UP...........13.4 % from 12,514.02 the 52-week low of SENSEX
Investment & Wealth Creation Advice:
We expect the Sexsen to go up by about thousand points in the next couple of weeks. However, we expect Sensex to go to 7000-8000 level in 2009.
Some of you may like to book profit or exit some stocks in the next couple of weeks as the market is expected to fall substantially in 2009.
Do consult your investment advisor before making any decisions.
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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