From
Emerging India
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Quick Update For NRIs, PIOs &
Software Professionals Staying Abroad
Read by NRIs in over 37 Countries
Issue No. 190 Evening Edition IST
Corporate World . Politics . Investment Opportunities in India
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Headline News in this issue:
- Pranab 'flies' the talk, travels economy class
- 4 killed in Srinagar blast
- Indra Nooyi most powerful woman in US biz: Fortune
- Foreign universities could have India campuses by '10
- World's top 10 economies for doing business
- India Inc hiring on all cylinders even in slump
- IcySpicy: Freida Pinto, Dev Patel spend quality time together
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SENSEX : 16,264.3 DOWN 23.3 % from 52-wk high
FOREX-Rs: USD 48.47 / EUR 70.86 / GBP 81.11
Please Note: October 2009 is expected to be a great month for Making Investments In India. Do Plan your investments in advance.
Do read Investment Advice for long-term investors, in this issue.
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Pranab 'flies' the talk, travels economy class
"It's nothing new to me. During elections and whenever I travel on commercial flights, I almost (always) traveled economy class. It's nothing new," he told reporters here.His office said in Delhi that he would return on Sunday by economy class on an Air India flight.
Sources said that he might also cancel a visit to Cyprus for a Commonwealth Ministers' meeting to which he had planned to go by a special aircraft.
They said even if he flies abroad for a World Bank meeting in Turkey sometime later, he would fly ordinary class.
Austerity measures prescribed by Mukherjee's ministry were questioned by his cabinet colleagues during a meeting of the Cabinet on Thursday.
The Finance Ministry had asked ministers to undertake all official travel only by economy class, besides avoiding holding meetings in five-star hotels.
At the Cabinet meeting, Agriculture Minister Sharad Pawar had sought to know whether he could host his foreign counterparts, who had treated him to lunch and dinners when he was abroad, in five-star hotels.
Commerce Minister Anand Sharma wanted travel by first class in international flights citing long hours of journey.
Mukherjee later sought to downplay the controversy, saying it could be due to some misunderstanding.
During a media interaction yesterday, he said the Finance Ministry had only made a request to ministers, MPs and officials -- entitled to travel by the executive class -- to take the economy class in domestic flights and that in international flights the ministers could travel by executive class.
4 killed in Srinagar blast
SRINAGAR: Three policemen and a woman were killed and 14 others were injured on Saturday when a police vehicle carrying detenus back from a court was blown up by an improvised explosive device set off by militants outside Srinagar central jail in the first major attack in the city in three years.
The vehicle of Pulwama district police was way to Pulwama when the IED-fitted car parked at a distance of nearly 30 metres from the jail went up in flames at around 6 pm and hit a police vehicle killing assistant sub inspector Sagar Singh and head constable Abdul Hamid inside the vehicle on the spot, the police said.
A spokesman of pro-Pakistan Jamiat-ul-Mujahideen owned responsibility for the attack saying its activists carried out the IED attack.
The explosion was so powerful that the sound of the blast was heard in entire Srinagar at a time when people were rushing back home for 'Iftar' breaking the Ramzan fast.
http://timesofindia.indiatimes.com/news/india/4-killed-in-Srinagar-blast/articleshow/5003539.cms
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Foreign universities could have India campuses by '10
Diverse nationalities aren't a common feature even in India's top educational institutions, the IITs and IIMs. However, a mixed campus could well become a reality when the international universities come to India - particularly because these schools aren't planning to price themselves out of the reach of locals.
“A number of foreign universities, and I'm talking about quality institutions, have met me to express interest in establishing a campus in India,” he said. And students can get a far more cheaply priced degree from, say, Harvard University or Imperial College, if they sign up from the India campus? “Exactly,” concurred Sibal. “For years, thousands of our students have traveled abroad for higher education. Now, let's build India into a hub of top-class higher education to which the world comes.”
World's top 10 economies for doing business
Singapore, a consistent reformer, has emerged as the top-ranked economy on the ease of doing business for the fourth year in a row, with New Zealand as runner-up, according to the IFC-World Bank Doing Business 2010 report.
Most of the action, however, occurred in developing economies as two-thirds of the reforms recorded in the report were in low- and lower-middle-income economies.
(Ease of doing business ranking) [Ease of starting business ranking]:
(1) Singapore [4] (2) New Zealand [1] (3) Hong Kong [18] (4) USA [8] (5) UK [16] (6) Denmark [28] (7) Ireland [9] (8) Canada [2] (9) Australia [3] (10) Norway [35] (133) India [169]
http://economictimes.indiatimes.com/quickiearticleshow/4991168.cms
Indra Nooyi most powerful woman in US biz: Fortune
NEW YORK: For the fourth straight year, India-born Pepsico chief Indra Nooyi has been named as the most powerful woman in the US business by the Fortune magazine.
In the annual list of '50 Most Powerful Women', 53-year-old Nooyi is followed by food major Kraft Foods' Chief Irene Rosenfeld at the second and soybean company Archer Daniels Midland's Chief Pat Woertz at the third spot.
The top three have retained their 2008 rankings. "In 1998 when the Most Powerful Women in Business list premiered, just two of our honorees ran Fortune 500 companies. This year 13 do," Fortune said.
About Nooyi, who is the Chairman and Chief Executive of soft drinks and beverages major Pepsico, the magazine said that she is back on top for the fourth year, delivering strong profits on USD 43 billion in sales.
http://economictimes.indiatimes.com/articleshow/4995955.cms
India Inc hiring on all cylinders even in slump
In a year that saw the stock markets crash and a serious liquidity crunch halt companies’ expansion plans globally, the number of Indian companies that added new employees were 30% more than those that reduced manpower, according to an ET study.
The sample of 375 public listed companies of which employee data for the year ended March 2009 is available shows that three out of every five companies added people, led by top IT services firms and banks.
The three largest IT firms—TCS, Wipro and Infy—have added more than 10,000 employees each while public sector banking giant SBI added 26,691 people last fiscal and as of March 31, 2009 had 2.05 lakh, maintaining its position as the largest corporate employer in the country.
(Ranking based on hiring) [Total number of employees / Net addition]
(1) TCS [126,000/28000] (2) State Bank of India [206,000/26,000] (3) Wipro [97,000/15,000] (4) HDFC Bank [52,000/14,000] (5) Infosys [85,000/12,000] (6) Voltas [100,000/7000] (7) Oracle Financial Services [10,000/5,800] (8) Axis Bank [20,000/5,800] (9) L&T [37,000/5,400] (10) Firstsource [21,000/4,200]
http://economictimes.indiatimes.com/articleshow/4992395.cms
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IcySpicy
Freida Pinto, Dev Patel spend quality time together
Freida Pinto and her 'Slumdog Millionaire' co-star Dev Patel may not be very forthcoming when it comes to confirming their relationship status but the loved up couple has been spotted spending some quality time together.
The young stars, who shot to global fame following the success of the Mumbai-based potboiler, looked every inch in love as they were photographed leaving a Fashion's Night Out event at jewellery store Asprey in Bond Street, on Friday night.
They were all smiles as they emerged out of the jewellery store holding hand and Pinto was spotted carrying one of Asprey's famous purple bags, Daily Mail reported.
Pinto, 24, looked stunning in a one-shouldered purple mini-dress and black satin peep-toe heels, while Patel looked dapper in a black trousers suit.
The actors, who played star-crossed lovers in the slum saga of Danny Boyle, have reportedly been dating since falling for each other on the movie set last year, but have declined to discuss their relationship.
http://www.indianexpress.com/news/freida-pinto-dev-patel-spend-quality-time-together/516313/
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END OF THE DAY STATUS OF THE STOCK MARKET:
Sensex went up by 0.3 % today.
SENSEX : 16,264.3 (+0.3%) NIFTY: 4,829.6 (+0.2%)
DOWN..23.3 % from 21,206.77 the 52-week high of SENSEX
UP...........111.3 % from 7,697.39 the 52-week low of SENSEX
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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 about 11,000 level in the next couple of months. We expect October 09 period to be a very good period for making investments in good BSE/NSE index-stocks / mutual funds in India. So, do plan your investments in advance. Do systematic investment (SIP) during these 2 months.
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 1-2 quarters.
Do consult your investment advisor before making any investment decisions.
Do not purchase shares of a good company at a wrong (high) 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 and/or mutual funds. Put 33% in Fixed-Interest instruments and the remaining 33% in real estate when real estate prices are low.
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 that is the case in 2009) and divest when prices are high (which will be the case in Q1-2011).
Please note that October 2009 is expected to be a great month for investing your money in stocks & mutual funds 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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