Mumbai:
1) Sensex, Nifty cap lacklustre week with mild losses; IT stocks fall most
Indian markets ended a lacklustre week with modest losses Friday. The BSE Sensex declined 17.55 points or 0.1 per cent to 17,521, while the broader Nifty index shed 10 points to 5,317. This was the fifth straight day of range bound trade on the Street since the huge rally last Friday, when markets saw the biggest gains of 2012. (Read More)
2) Rupee drops, sparking surprise RBI intervention
Weaker global risk assets sent the rupee lower for a third straight session on Friday, sparking an unexpected intervention from the RBI that prevented the currency from posting its biggest loss in two weeks. The rupee had been on the back foot through the session after monetary easing from central banks in the euro zone, Britain and China sparked worries about global economic growth. Standard Chartered upgraded also revised its end-September forecast for rupee to 56 from previous forecast of 57.50. (Read More)
Also Read: Indian Hotels to benefit from weaker rupee, says JP Morgan
3) Focus on domestic politics has led to slowdown: Rangarajan
PM's Economic Adviser C Rangarajan tells NDTV that the sharp slowdown in investment demand over the last 18 months can be attributed to the pre-occupation of the government with non-economic issues. He also speaks about diesel price hike, GAAR, interest rate cut, inflation and says that a big infrastructure push is on the anvil. Read | Watch full interview
Also Read: PM Manmohan Singh: No 'arbitrariness' in tax matters | ‘Corruption not rampant in our government’
4) Markets have limited patience, government must act: Samir Arora
The change of guard in the finance ministry has brought some luck to the markets. The BSE Sensex has gained over 3 per cent in the last 10 days since Prime Minister Manmohan Singh took charge of the finance ministry. In an interview to NDTV Profit's Prashant Nair, Samir Arora, fund manager at Helios Capital Management says that markets believe in Dr Manmohan Singh’s words and there is optimism that things will improve from hereon. (Read More)
See Interview here
5) Mauritius willing to walk the extra mile on tax concerns: Foreign Minister
In an exclusive interview to NDTV's Shweta Rajpal Kohli, Mauritius Foreign Minister Arvin Boolell talks about GAAR, tax treaty, black money and the measures being taken. He says that Mauritius is willing to walk the extra mile to address concerns of Indian tax authorities including reassessing the bilateral tax treaty with. He also said that domestic legislations should not over-ride the double taxation avoidance treaties between the two countries. (Read | Watch full interview)
Also Read: 5 facts on what the Mauritius tax issue is all about
6) Montek Singh Ahluwalia: 9% growth not possible amid global slowdown
In view of deteriorating global economic situation over the last one year, achieving average growth rate of 9 per cent in the next five years is not possible, and it may be 8-8.5 per cent, Planning Commission Deputy Chairman Montek Singh Ahluwalia today said. He further said, "I think given that the world economy deteriorated very sharply over the last year...the growth rate in the first of year of the 12th Plan (2012-13) is 6.5 to 7 per cent." (Read More)
Also Read: Citi warns poor monsoon could slow India’s growth to 5.6-6%
7) IMF's Lagarde voices concern over global economy
The head of the International Monetary Fund expressed concern on Friday at a deterioration in the global economy, saying the outlook has become more worrying as developed and big emerging nations show signs of slowing down. The comments by IMF managing director Christine Lagarde came after the European Central Bank, the Bank of England and China's central bank all eased monetary policy in a sign of the growing alarm over the health of the world economy. (Read More)
8) Infosys whistleblower case: Judge calls for mediation
The US federal judge hearing whistleblower Jack Palmer’s visa fraud allegation case against IT major Infosys has ordered a mediation conference to be convened on July 24 to settle the case according to the US based itbusinessedge website. The offer of mediation is for the civil case between Palmer and Infosys, and not for the grand jury probe against Infosys for which the trial comes up in August. (Read More)
Also Read: How Titan plans to grow with ‘Fastrack’
9) Coming soon: Microsoft's first quarterly loss in history
An ugly first week for Microsoft Corp's new financial year, probably its most important to date, has done little to inspire confidence that the software giant can jumpstart a stubbornly stagnant share price. On Monday, it announced a $6.2 billion writedown of a 2007 Internet-advertising acquisition - a reminder that Microsoft has a patchy track record when it ventures outside of its Windows and Office comfort zone. (Read More)
Also Read: Judge orders JPMorgan to explain withholding emails
10) How Galaxy smartphones drove Samsung's $ 5.9bn record profit
Soaraway sales of the Galaxy smartphone drove record quarterly profit of $5.9 billion at Samsung Electronics, though the South Korean tech giant is fretting over how Europe's debt crisis is denting demand in its biggest market for televisions and home appliances. (Read More)
- Sensex, Nifty cap lacklustre week with mild losses; IT stocks fall most
- Rupee drops, sparking surprise RBI intervention
- Focus on domestic politics has led to slowdown: Rangarajan
- Markets have limited patience, government must act: Samir Arora
- Mauritius willing to walk the extra mile on tax concerns: Foreign Minister
- Montek Singh Ahluwalia: 9% growth not possible amid global slowdown
- IMF's Lagarde voices concern over global economy
- Infosys whistleblower case: Judge calls for mediation
- Coming soon: Microsoft's first quarterly loss in history
- How Galaxy smartphones drove Samsung's $ 5.9bn record profit
1) Sensex, Nifty cap lacklustre week with mild losses; IT stocks fall most
Indian markets ended a lacklustre week with modest losses Friday. The BSE Sensex declined 17.55 points or 0.1 per cent to 17,521, while the broader Nifty index shed 10 points to 5,317. This was the fifth straight day of range bound trade on the Street since the huge rally last Friday, when markets saw the biggest gains of 2012. (Read More)
2) Rupee drops, sparking surprise RBI intervention
Weaker global risk assets sent the rupee lower for a third straight session on Friday, sparking an unexpected intervention from the RBI that prevented the currency from posting its biggest loss in two weeks. The rupee had been on the back foot through the session after monetary easing from central banks in the euro zone, Britain and China sparked worries about global economic growth. Standard Chartered upgraded also revised its end-September forecast for rupee to 56 from previous forecast of 57.50. (Read More)
Also Read: Indian Hotels to benefit from weaker rupee, says JP Morgan
3) Focus on domestic politics has led to slowdown: Rangarajan
PM's Economic Adviser C Rangarajan tells NDTV that the sharp slowdown in investment demand over the last 18 months can be attributed to the pre-occupation of the government with non-economic issues. He also speaks about diesel price hike, GAAR, interest rate cut, inflation and says that a big infrastructure push is on the anvil. Read | Watch full interview
Also Read: PM Manmohan Singh: No 'arbitrariness' in tax matters | ‘Corruption not rampant in our government’
4) Markets have limited patience, government must act: Samir Arora
The change of guard in the finance ministry has brought some luck to the markets. The BSE Sensex has gained over 3 per cent in the last 10 days since Prime Minister Manmohan Singh took charge of the finance ministry. In an interview to NDTV Profit's Prashant Nair, Samir Arora, fund manager at Helios Capital Management says that markets believe in Dr Manmohan Singh’s words and there is optimism that things will improve from hereon. (Read More)
See Interview here
5) Mauritius willing to walk the extra mile on tax concerns: Foreign Minister
In an exclusive interview to NDTV's Shweta Rajpal Kohli, Mauritius Foreign Minister Arvin Boolell talks about GAAR, tax treaty, black money and the measures being taken. He says that Mauritius is willing to walk the extra mile to address concerns of Indian tax authorities including reassessing the bilateral tax treaty with. He also said that domestic legislations should not over-ride the double taxation avoidance treaties between the two countries. (Read | Watch full interview)
Also Read: 5 facts on what the Mauritius tax issue is all about
6) Montek Singh Ahluwalia: 9% growth not possible amid global slowdown
In view of deteriorating global economic situation over the last one year, achieving average growth rate of 9 per cent in the next five years is not possible, and it may be 8-8.5 per cent, Planning Commission Deputy Chairman Montek Singh Ahluwalia today said. He further said, "I think given that the world economy deteriorated very sharply over the last year...the growth rate in the first of year of the 12th Plan (2012-13) is 6.5 to 7 per cent." (Read More)
Also Read: Citi warns poor monsoon could slow India’s growth to 5.6-6%
7) IMF's Lagarde voices concern over global economy
The head of the International Monetary Fund expressed concern on Friday at a deterioration in the global economy, saying the outlook has become more worrying as developed and big emerging nations show signs of slowing down. The comments by IMF managing director Christine Lagarde came after the European Central Bank, the Bank of England and China's central bank all eased monetary policy in a sign of the growing alarm over the health of the world economy. (Read More)
8) Infosys whistleblower case: Judge calls for mediation
The US federal judge hearing whistleblower Jack Palmer’s visa fraud allegation case against IT major Infosys has ordered a mediation conference to be convened on July 24 to settle the case according to the US based itbusinessedge website. The offer of mediation is for the civil case between Palmer and Infosys, and not for the grand jury probe against Infosys for which the trial comes up in August. (Read More)
Also Read: How Titan plans to grow with ‘Fastrack’
9) Coming soon: Microsoft's first quarterly loss in history
An ugly first week for Microsoft Corp's new financial year, probably its most important to date, has done little to inspire confidence that the software giant can jumpstart a stubbornly stagnant share price. On Monday, it announced a $6.2 billion writedown of a 2007 Internet-advertising acquisition - a reminder that Microsoft has a patchy track record when it ventures outside of its Windows and Office comfort zone. (Read More)
Also Read: Judge orders JPMorgan to explain withholding emails
10) How Galaxy smartphones drove Samsung's $ 5.9bn record profit
Soaraway sales of the Galaxy smartphone drove record quarterly profit of $5.9 billion at Samsung Electronics, though the South Korean tech giant is fretting over how Europe's debt crisis is denting demand in its biggest market for televisions and home appliances. (Read More)
