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Emerging India
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Hand-picked News For Busy NRIs & PIOs
Issue No. 132 Evening Edition IST
Corporate World . Politics . Investment Opportunities in India
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Headline News in this issue:
- Obama cuts Pak aid by $55m
- Hyderabad’s ISB 15th among best B-schools
- H-1B norms may be tightened this year
- Europe’s largest retailer Carrefour may hook up with Biyani
- Raju’s dark side known since ’02
- IcySpicy: ‘Abhi now calls me Padma Shrimati!’ – Aishwarya
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SENSEX: 9,257.5 DOWN 56.3 % from 52-wk high
FOREX-Rs: USD 48.85 / EUR 64.68 / GBP 69.71
Do read Investment Advice for long-term investors in this issue.
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Obama cuts Pak aid by $55m (TOI,Mum,28Jan09,Pg1)
US Wants To Make Islamabad Toe Its Line In Terror War
The Barack Obama administration’s threat to make Pakistan more accountable in the war on terror is materialising fast with Washington withholding $55 million from the latest tranche of reimbursement of expenses Pakistan claims to have incurred while fighting terror.
The decision was taken after auditors raised objections to some of the bills handed over by Pakistan as expenses incurred in the war on the Pak-Afghan border.
Hyderabad’s ISB 15th among best B-schools (TOI,Mum,28Jan09,Pg1)
Indian School of Business, Hyderabad, has leapfrogged to the 15th spot in the Financial Times global list of top 100 Bschools in the world. It continues to be the only Indian institute on the list.
For news in detail, visit The Times of India ePaper
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H-1B norms may be tightened this year (ET,Mum,28Jan09,Pg1)
Two leading US senators Dick Durbin and Chuck Grassley plan to reintroduce a stricter H-1B reform legislation this year, making it mandatory for outsourcing.
Europe’s largest retailer Carrefour may hook up with Biyani (ET,Mum,28Jan09,Pg1)
FUTURE group, India’s largest retailer and owner of the Big Bazaar supermarket chain, is in advanced talks with Europe’s largest retailer Carrefour for a joint venture to set up cash-and-carry outlets in India.
A deal could help the French group finally realise its longheld dream of entering the country’s fledgling retail sector, three people with knowledge of the discussions said.
If successful, the discussions could result in a joint venture between Carrefour Wholesale Cash & Carry India and Big Bazaar, much like the tie-ups between the Bharti group and Wal-Mart & the Tatas and UK’s Tesco.
Carrefour, which has in the past tried to partner with other Indian groups to set up shop here, initiated discussions for a partnership with Future group’s founder & CEO and organised retailing pioneer Kishore Biyani, who has made no secret of his desire to look at various options to grow his business.
The people privy to the talks said the promoters of the $2-billion Future group, including Mr Biyani; his cousin Rakesh Biyani, who runs the group’s Pantaloon Retail business, and Sameer Sain, CEO of Future Capital Holdings, have met Carrefour India officials a few times in New Delhi.
RAJU’S DARK SIDE KNOWN SINCE ’02 (ET,Mum,28Jan09,Pg1)
HIDDEN under layers of dust and grime at a non-descript income tax office in Hyderabad, a can of worms in the Satyam saga is waiting to explode. A six-year old report, buried in a labyrinth of files, maps out an intricate web of companies and ‘benami’ — or anonymous — bank accounts allegedly used by Satyam’s former chairman Ramalinga Raju and his relatives to move money around and carry out trading in Satyam shares.
Foreign software majors step up hiring in India (ET,Mum,28Jan09,Pg11)
AT A time when top Indian tech firms including TCS, Infosys and Wipro plan to slow down their linear growth by hiring less number of people, multinational software companies such as IBM, Accenture and Cap Gemini continue to hire more software professionals in order to expand their offshore capabilities.
For news in detail, visit The Economic Times ePaper
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IcySpicy
‘ABHI NOW CALLS ME PADMA SHRIMATI!’ (BT,Mum,28Jan09,Pg1)
... says Aishwarya Bachchan who was honoured by the country on Republic Day with the civilian award
More than the Government of India’s recognition of her distinguished contribution to cinema, Aishwarya Bachchan is tickled by husband Abhishek’s acknowledgement of her Padma Shri on Republic Day. When the civilian honours were announced, Bachchan Jr was shooting in Orcha near Jhansi and Aishwarya was in Chennai. And from there he sent his lovely wife a bouquet of flowers with an affectionately penned note. “It was addressed to Padma Shrimati,” said Aishwarya with a peal of laughter.
When she flew into Mumbai on Monday morning, waiting to greet her at the airport were more flowers and another heartfelt message. “This one was from Pa,” revealed the pleased actress, “He wrote that this was the fifth Padma Shri in the family. Dadaji (Harivansh Rai Bachchan) got it first, Pa got it twice, then Ma (Jaya Bachchan) and now me… the award is very special to the family and I’m humbled to receive such high honour from the country.”
The actress, who has been active in Chennai with hectic schedules for the films Robot and Raavan, was recently also voted as being among the 50 Most Desirable Women in the World. But Ash chooses to wear this crown lightly.
“These polls are enjoyable and bring a smile to my face,” she said dismissing the notion that married Indian actresses cease to be desirable. “I’ve made no conscious effort to live by or defy pre-conceived notions about actresses and their life spans,” she said, “because I’ve always had a personal connect with the audience. Marriage only enhanced that connectivity.”
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 2.8 % today.
SENSEX: 9,257.5 (+2.8%) NIFTY: 2,849.5 (+2.8%)
DOWN..56.3 % from 21,206.77 the 52-week high of SENSEX
UP...........20.3 % from 7,697.39 the 52-week low of SENSEX
Investment & Wealth Creation Advice:
Please note that our advice is primarily for investors and not for speculators. Investors typically invest with 12-60 month investment perspective. You will therefore find that our advice does not change substantially from issue to issue.
We expect Sensex to come down to 7000-8000 level in the next few months. So, it is going to be a very good time for investments in good stocks.
Also, those who want to invest in realty in India should wait for some time as the flat and land prices are expected to come down substantially in the next 3-4 quarters.
Do consult your investment advisor before making any investment decisions.
Do not purchase shares of a good company at a wrong price. Also, do not purchase shares of a bad company even at a very low price.
Do not put all your eggs in one basket. Diversify your portfolio to de-risk. Do not put more than 33% of your investible funds in stocks or mutual funds. Do not invest in stocks, mutual funds or realty when their prices are quite high. From the high levels, these prices normally come down by about 40-50% and that is when many people lose their hard earned money in a big way.
Make sure that you are not one of those big losers. Make sure that you invest when prices are low and divest when prices are high. Please note that 2009 is going to be a great year for investing your money in stocks, mutual funds & realty in India.
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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