Tuesday, February 10, 2009






Headline News

From

Emerging India

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Hand-picked News For Busy NRIs & PIOs
Issue No. 139 Evening Edition IST
Corporate World . Politics . Investment Opportunities in India
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Headline News in this issue:

  • T20: India beat Sri Lanka by three wickets
  • Rahman, Pookutty bring home BAFTA honours
  • Another Grammy for Zakir Hussain
  • Despite slump, Indian growth pegged at 7.1%
  • Indian cook killed in Afghanistan
  • US H-1B visa curbs may not hurt Indian IT cos
  • Jindal among 10 people who could change world
  • ICAI body finds 2 PW men guilty in GTB case
  • IcySpicy: ‘PRIYANKA’S A SEXY MOVER’

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SENSEX: 9,647.5 DOWN 54.5 % from 52-wk high

FOREX-Rs: USD 48.68 / EUR 62.66 / GBP 72.34

2009 - A Great Year For Investments In India

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

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T20: India beat Sri Lanka by three wickets

Pathan brothers guided India to round off Lankan tour on a high as they snatched victory out of Sri Lanka's hands in the only Twenty20 international match in Colombo.

http://timesofindia.indiatimes.com/default1.cms

Rahman, Pookutty bring home BAFTA honours (TOI,Mum,10Feb08,Pg3)

It’s raining awards for A R Rahman and Slumdog Millionaire. On February 8, India’s hotshot music composer picked up his first BAFTA (British Academy of Film & Television Arts) trophy for the Best Music Score for his now world-famous Slumdog track. “It’s a great feeling and it’s getting better and better. Let’s hope for the biggest one, the Oscars,’’ said Rahman.

Speaking to The Times of India about Rahman’s genius, Slumdog director Danny Boyle said, “I have worked with him in his little studio at Tufnell Park in London. And it is not only his music, the man himself manages to make people stop in their tracks when he walks out on the streets at lunch time. Everybody recognises him.’’ Boyle adds, “I was very thrilled when Rahman made it to the No. 1 spot on the iTunes album chart. Normally one would find Rihana or Beyonce there.’’

FTII grad Resul Pookutty also picked up his first BAFTA for the Best Sound Design along with Glenn Freemantle, Richard Pryke, Tom Sayers and Ian Tapp. Pookutty—who is riding the high wave of an Oscar nomination—said, “I’m glad the Indian technician is now going places. It is a proud moment for me and for India.’’

Another Grammy for Zakir Hussain (TOI,Mum,10Feb08,Pg1)

A day after A R Rahman and Resul Pookutty picked up BAFTA awards, there was more music in store for Indian ears. On Monday, tabla whiz Ustaad Zakir Hussain was awarded the Grammy in the Best Contemporary World Music Album category for the Global Drum Project. The album also features Mickey Hart, Sikiru Adepoju and Giovanni Hidalgo.

In an interview to TOI when the Grammy nominations were announced, Hussain had said, “At any given time, at least 15-20 Indian artistes are performing all over the globe. And the best part is, the audience is appreciating and applauding us.’’ Incidentally, this is Hussain’s second Grammy, after 1992, when he won it for Planet Drum.

Despite slump, Indian growth pegged at 7.1% (TOI,Mum,10Feb08,Pg1)
2nd Highest In 2008-09 After China

The Indian economy is holding its head high amidst the global doom. In the current financial year (2008-09), the country’s economy is expected to grow at 7.1%, according to data released by the Central Statistical Organisation (CSO) on Monday, the second highest in the world after China.

However, the figure will be two percentage points lower than 9.1%, achieved in the last fiscal (2007-08). For the last three consecutive years, the country had recorded a growth of 9% and above.

Due to strong growth in the last five years, the average income of an Indian has more than doubled to Rs 38,084 in 2008-09, from Rs 18,885 in 2002-03. Despite the depreciation of the rupee against the dollar in the last six months, the size of the economy (GDP) will be more than $1 trillion (Rs 54,26,277 crore at market price) in the current financial year.

Indian cook killed in Afghanistan (TOI,Mum,10Feb08,Pg1)

Villupuram: A pizza-maker from Tamil Nadu held captive by militants in Afghanistan for nearly four months is dead, his family and the external affairs ministry said on Monday. The small hamlet of Thirumakondam in a remote part of Villupuram district was plunged into gloom after the news reached the Simon household. It’s unclear if he was killed or left to die by his captors.

P Simon, 38, who was employed with Italian food chain Ciano International, was abducted in October.

‘Jindal among 10 people who could change world’ (TOI,Mum,10Feb08,Pg16)

London: Bobby Jindal, Indian-American governor of Louisiana, has been named by a British publication among “10 people who could change the world”. The list also includes Regina Papa, a social activist from India.

The New Statesman says that Jindal is “perhaps the best prospect for revitalizing a Republican Party that has just started its tour of the wilderness, with little else to keep it going other than the sustenance provided by occasional caribou kills by its new folk hero, Sarah Palin”.

ICAI body finds 2 PW men guilty in GTB case (TOI,Mum,10Feb08,Pg17)
Partners Audited Bank’s A/Cs

In a major setback to auditing firm Price Waterhouse, already under fire for its role in the Satyam scam, two of its partners have been found guilty of “professional misconduct’’ by the disciplinary committee of Institute of Chartered Accountants of India (ICAI) in the auditing of Global Trust Bank (GTB) that collapsed in 2004.

Sources said one of the auditors found guilty is S Gopalakrishnan (though it could not be confirmed), the partner who also audited Satyam’s books and has been suspended by Price Waterhouse.

For news in detail, visit The Times of India ePaper

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US H-1B visa curbs may not hurt Indian IT cos (ET,Mum,10Feb08,Pg10)

THE US Senate’s move to restrict H-1B visas to banks and companies receiving aid under the stimulus package is unlikely to have a major impact on Indian IT players. According to analysts, there are two reasons for this. First, offshoring, which is on the rise, has not been directly targeted by the amendment, and second, other categories of visas are still available.

For news in detail, visit The Economic Times ePaper

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IcySpicy

‘PRIYANKA’S A SEXY MOVER’ (BT,Mum,10Feb08,Pg1)
... says SRK, who grooves with the hot actress in a hip-hop number for his new film

It took Shah Rukh Khan to push aside the curtain and reveal the shower singer in Bollywood hottie Priyanka Chopra! That the actress can, well, act, dance with hot moves, is undeniably sexy... is known.

What SRK reveals with his Friday release Billu is that Priyanka can sing as well... and not ordinary love songs with simple lyrics, but she can belt out hip-hop numbers that would impress any West Coast rapper. She’s a rap music lover and can do any number on the US charts with ease... the ‘Yos’ and ‘Aaahaans’ included. Add to that her sexy moves... and what you have is somebody who could give Rihanna reason to worry.

SRK, being SRK, noticed all this when he filmed Don with Priyanka and when it came to picking someone who would gyrate to Pritam’s English hip-hop number Rockin’ & Reeling in his home production Billu... the Bollywood Badshah knew Priyanka was the girl. Anahita Shroff dressed the hot actress in hotter shorts and a snug top. And Shah Rukh got into the frame himself to do a bit of grooving on this heavy duty number.

He, of course, is not very musically inclined and admitted that he doesn’t know whether this is a pure rap song “or what is loosely called a bit loungy and hip-hop mixed with reggae”. But when he heard the track, he knew Priyanka should do it. “I have been out with her, at home, and danced with her... and she is a natural mover to this kind of music,” he said. “This kind of music resides in her heart, her body and her iPod. I am like, wow, when I see her just move to the groove... she looks really sexy in it. She’s quite a rock star, actually.”

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 0.7 % today.

SENSEX: 9,647.5 (+0.7%) NIFTY: 2,934.5 (+0.5%)

DOWN..54.5 % from 21,206.77 the 52-week high of SENSEX

UP...........25.3 % 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.

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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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Posted by NRI.NewsIndia at 11:45 PM

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