New Delhi:
1) India's economic crisis: PM meets top advisors
Prime Minister Manmohan Singh, who took over charge of the Finance Ministry after Pranab Mukherjee's resignation, has already sprung into action to revive India's slowing economy. He met Dr. C Rangarajan, Montek Singh Ahluwalia, Dr Kaushik Basu and top officials of the finance ministry on Wednesday and asked them to create a revival plan for the economy. (Read full story here)
2) Coke, IKEA show India story hasn't gone flat
Amid the pessimism surrounding India's reforms, it's easy to forget that growth hasn't stopped. Big multinationals like Coca-Cola and IKEA can afford to focus on the country's robust long-term prospects. The two companies' flagship bets on India's consumers will help steady nerves in Delhi, and could serve as a catalyst for foreign direct investment from other sources, too. (Know more)
3) India’s rich donate more, give $5 bn each year, shows survey
Bain & Co, a consultancy firm (founded by US Republican presidential nominee Mitt Romney), conducts an annual survey of India’s rich. Titled ‘India Philanthropy Report 2012’ says that a growing number of Indian rich have both the means and the inclination to participate in philanthropy. Here are takeaways from the report
4) Government plans loan recast, tariff hikes to aid power firms
The Central government is chalking out a plan to bail out the ailing power distribution companies (discoms) and the state electricity boards (SEBs). (Full story)
5) A peek inside hedge funds in Asia
Some of Asia's oldest hedge funds are ditching short-selling as investors pull out of the strategy on concerns that bearish bets are failing to pay off and not worth the hefty fees they bring. (Read here)
6) Five heavyweight sectors hit by policy paralysis
The government is expected to focus on policy measures that could be implemented with least resistance and within a short span of time, a global banking giant has said, adding that any movement forward on the land acquisition Bill and the insurance Bill were “nearly impossible”. In a report titled ‘Quadrants of Fear’, Standard Chartered bank says the current despair over lack of decision-making has led to “irrational fears and stocks being pummeled multiple times for the same news”. (Details)
7) Rupee, euro crisis hit gold demand in India
Weaker local currencies are weighing on gold demand from India, the world's largest consumer of the precious metal, and Indonesia, another leading Asian buyer, as traders also favour cash on concerns over a deterioration in the euro zone crisis. (Know how)
Rupee remains flat at 57.14 per dollar
8) Sensex, Nifty end flat; Kingfisher down, Manappuram soars
Indian stocks closed with modest gains for a second straight day Wednesday. The lacklustre trade saw the Sensex moving in a 100 point range, and the Nifty confined in a 30 point band. The rupee traded marginally lower at 57.10 against the dollar at 03.42 p.m. (Read market report here)
Kingfisher Airlines shares plunge 10% after company returns 'surplus' aircraft
9) Wall Street analysts like, don't love, Facebook
A month after Facebook Inc's rocky initial public offering, some of Wall Street's top analysts have published their first assessments of prospects for the world's No. 1 social network. And most are cautiously optimistic. (Know why)
10) Is the euro beyond salvation? Politics not economics to decide
Here's a nightmare for Europe's leaders to ponder as they prepare for yet another summit to tackle the euro zone crisis: a bond auction fails in Spain, spreading solvency worries to Italy and beyond and triggering uncontrollable bank runs that spell the single currency's end. (Read here)
- India's economic crisis: PM meets top advisors
- Coke, IKEA show India story hasn't gone flat
- India’s rich donate more, give $5 bn each year, shows survey
- Goverment plans loan recast, tariff hikes to aid power firms
- A peek inside hedge funds in Asia
- Five heavyweight sectors hit by policy paralysis
- Rupee, euro crisis hit gold demand in India
- Sensex, Nifty end flat; Kingfisher down, Manappuram soars
- Wall Street analysts like, don't love, Facebook
- Is the euro beyond salvation? Politics not economics to decide
1) India's economic crisis: PM meets top advisors
Prime Minister Manmohan Singh, who took over charge of the Finance Ministry after Pranab Mukherjee's resignation, has already sprung into action to revive India's slowing economy. He met Dr. C Rangarajan, Montek Singh Ahluwalia, Dr Kaushik Basu and top officials of the finance ministry on Wednesday and asked them to create a revival plan for the economy. (Read full story here)
2) Coke, IKEA show India story hasn't gone flat
Amid the pessimism surrounding India's reforms, it's easy to forget that growth hasn't stopped. Big multinationals like Coca-Cola and IKEA can afford to focus on the country's robust long-term prospects. The two companies' flagship bets on India's consumers will help steady nerves in Delhi, and could serve as a catalyst for foreign direct investment from other sources, too. (Know more)
3) India’s rich donate more, give $5 bn each year, shows survey
Bain & Co, a consultancy firm (founded by US Republican presidential nominee Mitt Romney), conducts an annual survey of India’s rich. Titled ‘India Philanthropy Report 2012’ says that a growing number of Indian rich have both the means and the inclination to participate in philanthropy. Here are takeaways from the report
4) Government plans loan recast, tariff hikes to aid power firms
The Central government is chalking out a plan to bail out the ailing power distribution companies (discoms) and the state electricity boards (SEBs). (Full story)
5) A peek inside hedge funds in Asia
Some of Asia's oldest hedge funds are ditching short-selling as investors pull out of the strategy on concerns that bearish bets are failing to pay off and not worth the hefty fees they bring. (Read here)
6) Five heavyweight sectors hit by policy paralysis
The government is expected to focus on policy measures that could be implemented with least resistance and within a short span of time, a global banking giant has said, adding that any movement forward on the land acquisition Bill and the insurance Bill were “nearly impossible”. In a report titled ‘Quadrants of Fear’, Standard Chartered bank says the current despair over lack of decision-making has led to “irrational fears and stocks being pummeled multiple times for the same news”. (Details)
7) Rupee, euro crisis hit gold demand in India
Weaker local currencies are weighing on gold demand from India, the world's largest consumer of the precious metal, and Indonesia, another leading Asian buyer, as traders also favour cash on concerns over a deterioration in the euro zone crisis. (Know how)
Rupee remains flat at 57.14 per dollar
8) Sensex, Nifty end flat; Kingfisher down, Manappuram soars
Indian stocks closed with modest gains for a second straight day Wednesday. The lacklustre trade saw the Sensex moving in a 100 point range, and the Nifty confined in a 30 point band. The rupee traded marginally lower at 57.10 against the dollar at 03.42 p.m. (Read market report here)
Kingfisher Airlines shares plunge 10% after company returns 'surplus' aircraft
9) Wall Street analysts like, don't love, Facebook
A month after Facebook Inc's rocky initial public offering, some of Wall Street's top analysts have published their first assessments of prospects for the world's No. 1 social network. And most are cautiously optimistic. (Know why)
10) Is the euro beyond salvation? Politics not economics to decide
Here's a nightmare for Europe's leaders to ponder as they prepare for yet another summit to tackle the euro zone crisis: a bond auction fails in Spain, spreading solvency worries to Italy and beyond and triggering uncontrollable bank runs that spell the single currency's end. (Read here)
