Saturday, February 7, 2009













Headline News

From

Emerging India

..................................................................
Hand-picked News For Busy NRIs & PIOs
Issue No. 138 Evening Edition IST
Corporate World . Politics . Investment Opportunities in India
..................................................................

Click & View Google ADs

ON THIS PAGE NOW >>>

TO SUPPORT THIS PUBLICATION
..................................................................
Headline News in this issue:

  • Bailed-out US cos face ban on hiring H-1B visa holders
  • Cricket Hits Slump For A Six
  • India pips Oz to ODI No 2 spot
  • Class action suit against PwC in US
  • Rajus get VIP status in jail
  • Coca-Cola to shift Satyam contract to another IT co
  • IcySpicy: Boyle dumped priesthood for showbiz

..................................................................

SENSEX: 9,300.9 DOWN 56.1 % from 52-wk high

FOREX-Rs: USD 48.72 / EUR 62.33 / GBP 71.29

2009 - A Great Year For Investments In India

Do read Investment Advice for long-term investors in this issue.

..................................................................

..................................................................

Cricket Hits Slump For A Six (TOI,Mum,07Jan09,Pg1)
India Inc Splurges Rs 38Cr, Flintoff, Pietersen Break Dhoni’s Record

Panaji: It’s back. Bigger and even more bountiful. The heady cocktail of cricket, big money and glamour that made the Indian Premier League such a huge hit in its inaugural season was served up again on Friday with an auction that relegated last year’s eye-popping figures to instant history.

The general economic outlook may be none too bright, but IPL pay packages are still surging like a team’s score during frenzied Powerplay.

The big question when the action kicked off was whether M S Dhoni’s record fee of $1.5 million would survive the day. It didn’t last even a few hours. England’s Kevin Pietersen and Andrew Flintoff both clocked $1.55 million, surpassing Dhoni as the costliest players of the tournament.

India pips Oz to ODI No 2 spot (TOI,Mum,07Jan09,Pg1)

India has attained the number two spot in the ICC’s ODI ratings for the first time displacing Australia after the world champions lost to New Zealand in the second ODI in Melbourne on Friday. Dhoni’s boys, on a 9-match winning streak, have 122 points, just three behind leaders South Africa.

Class action suit against PwC in US (TOI,Mum,07Jan09,Pg1)

New York: In a new class action lawsuit over the Satyam scandal, global audit major PwC, along with its Indian and international units, has been charged with having “recklessly disregarded’’ a multiyear massive fraud by the former management of Satyam.

The lawsuit has been filed in the US district court, southern district of New York, by the law firm Pomerantz Haudek Block Grossman & Gross LLP against Satyam, B Ramalinga Raju, his brother B Rama Raju and Satyam’s outside auditors PricewaterhouseCoopers Pvt Ltd, Price Waterhouse and PricewaterhouseCoopers International Ltd.

The suit was filed on behalf of the purchasers of the American depository receipts of Satyam between January 6, 2004 and January 6, 2009.

Besides the fraud charges, it alleges that PwC was aware of, or recklessly disregarded, a multi-year massive fraud by the Satyam management to overstate the company’s earnings.

Rajus get VIP status in jail (TOI,Mum,07Jan09,Pg1)

Hyderabad: Disgraced Satyam boss B Ramalinga Raju’s stay at Hyderabad’s Chanchalguda prison will get a little better soon. Like other ordinary inmates, he and his brother Rama Raju have been sleeping on mattresses on the ground, eating watery dal and rice and sharing toilets with other prisoners.

However, they were granted special class prisoner status on Friday, and will now be entitled to cots, mosquito nets, home-cooked food and a separate toilet.

For news in detail, visit The Times of India ePaper

..................................................................

NRI.NewsIndia Reader

I am completely Indian at heart

..................................................................

Bailed-out US cos face ban on hiring H-1B visa holders (ET,Mum,07Jan09,Pg1)

IN A move that could adversely affect Indian IT professionals working in the US, an amendment to bar US companies that have received bailout money from hiring H-1B visa holders has been introduced in the US senate.

An attempt is being made to attach the amendment to US President Barack Obama’s $900-billion stimulus package, which is under debate in the senate. The move is aimed at ensuring that banks, which receive government bailout, don’t hire non-US citizens.

Indian IT professionals make up for a large percentage of the H-1B visa programme, which allows foreigners with special skills to work in the US.

Coca-Cola to shift Satyam contract to another IT co (ET,Mum,07Jan09,Pg4)

BEVERAGES giant The Coca-Cola Company is transferring a substantial part of its technology services contract from Satyam to other India IT companies in the next six to eight weeks, a person with knowledge of the development confirmed to ET. However, The Coca-Cola India spokesperson declined to comment on the development.

“Coca-Cola outsources enterprise business systems (Enterprise Resource Planning, or ERP) to manage their inventory and distribution. The multi-year contract could be of $100 million, with at least $30-50 million of work every year.

Satyam is strong in ERP and is a low-cost provider, hence lot of companies, including The Coca-Cola Company opted for it. Now, the contract could go to other vendors,” said a Bangalore-based analyst.

For news in detail, visit The Economic Times ePaper

..................................................................

INTERESTING VIDEOs

CLICK ON THIS LINK:

Watch the latest videos on YouTube.com

.................................................................

IcySpicy

Boyle dumped priesthood for showbiz (BT,Mum,07Jan09,Pg1)
... and the Oscar-nominated director is glad he did so!

Danny Boyle could not be more grateful that he dumped his early priesthood ambitions to turn to showbiz. The 52-year-old revealed that as a boy he harboured dreams of becoming a priest to impress his mum, but was talked out of it with no regrets.

“It’s not a joke. Actually there are loads of directors who as a side-off kind of flirted with the priesthood. Martin Scorsese, John Wood. My mom’s a very devout Catholic from Ireland and she wanted me, her eldest son, to be a priest,” he was quoted by a website as saying.

“There was this priest who said to me, ‘I don’t think you should do it. I think you should wait until girls and music and all those things come into your life’. I don’t know if he was trying to save me or the priesthood but I’m very grateful to him for it,” he added.

Danny has vowed many with his film The Slumdog Millionaire, for which he won awards at the Golden Globes and Critics’ Choice Awards, along with winning 11 and 10 nominations at the forthcoming British Academy of Film and Television Arts Awards (BAFTAs) and the Oscars respectively.

For news in detail, do visit Bombay Times ePaper

..................................................................

END OF THE DAY STATUS OF THE STOCK MARKET:

Sensex went up by 2.3 % today.

SENSEX: 9,300.9 (+2.3%) NIFTY: 2,843.1 (+2.3%)

DOWN..56.1 % from 21,206.77 the 52-week high of SENSEX

UP...........20.8 % 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.

..................................................................

NRI.SearchIndia
NOBODY can Search India better than this search engine



Posted by NRI.NewsIndia at 11:47 PM

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)