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Headline News
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Emerging India
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Hand-picked News For Busy NRIs & PIOs
Issue No. 121 Evening Edition IST
Corporate World . Politics . Investment Opportunities in India
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THIS ISSUE IS AT A PRICE,
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Headline News in this issue:
- Sensex tumbles nearly 300 points on Wipro ban
- Indian soccer stars get call to shine on US fields
- IT majors to bag deals worth $4 B
- Satyam’s fee to PWC under lens
- Denmark scouts for Indian talent
- IcySpicy: IS JHUMPA SEXY?
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SENSEX: 9,110.1 DOWN 57.0 % from 52-wk high
FOREX-Rs: USD 48.61 / EUR 65.21 / GBP 73.38
Do read Investment Advice for long-term investors in this issue.
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NRI.NewsIndia
Keeps me updated on India
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Sensex tumbles nearly 300 points on Wipro ban
The Bombay Stock Exchange benchmark Sensex tumbled nearly 300 points on Monday, the third time in a row, on aggressive selling by funds, weak opening in European stock markets, and the World Bank debarring more software companies, including Wipro, till 2011.
Wipro, the third software producer and a component of the key index, fell 12 per cent soon after the World Bank barred the company from direct contracts until 2011, citing a conflict of interest. The stock ended with a fall of Rs 23.30 at Rs 227.35.
Indian soccer stars get call to shine on US fields (TOI,Mum,12Jan09,Pg1)
This is a frontier story with a twist. It is the US that is now pushing for expansion; in the Indian football context, of course. Major League Soccer (MLS) has expressed interest in recruiting a clutch of Indian footballers and the country’s stars are showing more than just a passing interest.
Two of Indian football’s biggest stars—Sunil Chhetri and Steven Dias—have been handed contracts by US-based FIFA registered agent Eddie Rock. There are a host of players from Kolkata and Goa too who are on the MLS radar.
While Chhetri is understood to have sought more time as he remains keen to ply his trade in Europe for a start, Steven, Mahindra United’s livewire on the right side of midfield, has already signed on the dotted line.
For news in detail, visit The Times of India ePaper
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HAVE YOU CLICKED & VIEWED A GOOGLE AD OF YOUR INTEREST ON THIS PAGE TODAY?
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IT MAJORS TO BAG DEALS WORTH $4 B (ET,Mum,12Jan09,Pg1)
IT MAJORS such as TCS, Infosys, Wipro and HCL are all set to get new outsourcing contracts worth $4 billion from top customers including British Telecom, Citi, GE and Bank of America this year. In a bid to cope with their tight budgets, these companies plan to send their IT works to offshore locations such as India.
SATYAM’S FEE TO PWC UNDER LENS (ET,Mum,12Jan09,Pg1)
THE Pricewaterhouse Coopers (PwC) story, as far as Satyam Computer Services is concerned, is clearly not going to get over in a hurry. Recent events may result in PwC’s fee from Satyam coming under the scanner.
Between 2003 and 2008, its audit fee from Satyam increased three-fold. Other companies in the information technology (IT) sector have not increased payments to their auditors, at least not to this extent.
Satyam’s auditor fee is 3 times Infy’s
FOR the financial year ended March 2008, Infosys paid a total auditor remuneration of Rs 1.53 crore on a consolidated basis, while the corresponding amount that Wipro paid its auditors was Rs 2.8 crore. TCS, the largest Indian IT company, paid only Rs 2.77 crore as auditor remuneration.
Thus, for Satyam, the auditors’ remuneration on a consolidated basis at Rs 4.3 crore is almost 1.5 times that of Wipro and TCS and three times more than what Infosys paid its auditors.
Denmark scouts for Indian talent (ET,Mum,12Jan09,Pg1)
DENMARK is looking at sourcing skilled manpower from India. The country has set up a ‘Work in Denmark’ centre at the Danish Embassy in India to facilitate job applications from Indian professionals. Danish envoy to India Ole Lonsmann Poulsen said that the country is keen to take on a cross-section of Indian professionals to “supplement” Denmark’s captive talent. In step, the ambassador is seeing a 10-15% growth in bilateral trade between Indian and Denmark.
“A rather new area of co-operation between India and Denmark, an area I believe will gain increasing importance, relates to skilled manpower. A major constraint to our future growth in Denmark is shortage of highly-skilled people, and we will increasingly have to supplement our own talents with talents from other countries,” Mr Poulsen said.
He added: “In order to facilitate such recruitment, the Danish government has taken steps to reduce the red tape for job applicants from India by introducing a green card scheme and by opening a Work in Denmark centre at the Danish embassy in India, the only country where we have established such a facility.”
For news in detail, visit The Economic Times ePaper
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IcySpicy
IS JHUMPA SEXY? ‘EYE, EYE’, SIR! (BT,Mum,12Jan09,Pg1)
Pulitzer Prize winning author Jhumpa Lahiri was declared the Thinking Man’s Sex Symbol because of her eyes...
Beauty is in the eye of the beholder, but for American born author of Bengali-Indian origin Jhumpa Lahiri, her beauty is literally in the eyes. Her ‘hypnotic’ eyes have the compilers of an international ‘Thinking Man’s Sex Symbol’ list in a tizzy.
She features in their Top 10 as being a brainy man’s pin-up. The list, prepared by an American website run by former New York journalist Tina Brown, places Lahiri at No. 8. The list was topped last year by Serbian tennis glamour girl Anna Ivanovic.
BT asked several men (thinkers and nonthinkers) whether their hearts jump for the Pulitzer Prize winning author (Interpretor of Maladies, 2000) and if they really get turned on by a woman’s eyes...
ALYQUE PADAMSEE • I don’t believe in such titles though I find her rather attractive.
PRITISH NANDY • She is indeed very attractive. Sexy if you will. No, not only because of her ‘catch me if you can’ eyes but also because those who have read her know she has a stunningly attractive mind which combines with rare talent to make her such a femme fatale. Yes, I think her sexiness lies in being so very unique.
SHEKHAR KAPUR • I have read Jhumpa’s books, seen her pictures — she looks good, but I haven’t met her personally. So commenting on her sex appeal will not be fair, nor will it be possible.
FEROZE KHAN • I have seen her eye-to-eye and she looks good. Her entire package is appealing, eyes, talent and her personality.
For news in detail, do visit Bombay Times ePaper
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END OF THE DAY STATUS OF THE STOCK MARKET:
Sensex came down by 3.2 % today.
SENSEX: 9,110.1 (-3.2%) NIFTY: 2,773.1 (-3.5%)
DOWN..57.0 % from 21,26.77 the 52-week high of SENSEX
UP...........6.3 % from 12,514.02 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.
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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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