Trade policy: Govt continues incentiv...

Trade policy: Govt continues incentives, eyes high growth.

After Nilekani, another Bangalorean makes it to Delhi

Troubled Galaxy Destroyed Dreams, chapter 351

Palash Biswas

India and climate change talks If emitters were to take mitigation, they could achieve reductions without denying poor in India prospects of humane existence. 'Insurance firms must control costs'  Growth in LIC industry has come to a grinding halt after years of high double-digit growth. S B Mathur speaks about the challenges for the sector. Tax code is unfair to the salaried  Unable to curb large-scale tax evasion, the I-T department has been eyeing soft targets like salary earners for many years now.

http://economictimes.indiatimes.com/opinionshome/897228639.cms

Markets

Broader indices trading flat; smallcap up about 1%
Duration: 01:25
Posted: 27 Aug, 2009, 1211 hrs ISThrs IST

Markets open in red; Sensex down 48 points
Duration: 01:34
Posted: 27 Aug, 2009, 1011 hrs ISThrs IST

Markets close: Sensex ends choppy session higher
Duration: 01:22
Posted: 26 Aug, 2009, 1604 hrs ISThrs IST

more
marketsvideos >>

Bloodshed in bandh final hour

RAJ KUMAR

Ranchi, Aug. 26: A villager playing police guide was killed and a CRPF jawan injured when a squad of rebels led by sub-zonal commander Kundan Pahan ambushed a 38-member security party in Bundu barely an hour before the 48-hour CPI(Maoist) bandh drew to an end last night. Deputy superintendent of police (DSP), Hatia, Rajeev Ranjan, who survived the attack, said police and CRPF personnel were returning from Ulida after a long-range patrol when the rebels struck. Tired as they were, the jawans had stopped for some rest at Nawadih Middle School. The school, nestled between dense forests and hills about 35km from the capital on the Ranchi-Jamshedpur highway, made them easy targets. An armed squad of 100 rebels surrounded the campus around 11pm and began firing indiscriminately from semi-automatic rifles. The security personnel scurried for cover, many taking shelter in classrooms on the 1.8-acre campus. “Sukhram Munda, a village youth who was guiding us, was killed in the first hail of bullets. CRPF jawan Shivshankar Yadav was injured. We took position in eight classrooms and a gun battle ensued,” Ranjan said, adding that they exhausted 800 rounds during the encounter that lasted for three hours. The DSP said that the rebels tried to demoralise the force by heckling them and asking them to surrender. “They kept saying that they had laid siege to the campus and we could not escape. Pahan himself was hollering at us,” he added. Officer in charge of Lapung police station Kuldeep Toppo, who also survived the attack, admitted that he had never faced such a tricky situation. “It was a difficult challenge for us because we had no long-range firearms. I found myself helpless with a 9mm pistol. The encounter ended only after reinforcement and anti-landmine vehicles reached the spot. Bundu sub-divisional police officer Anand Joseph Tigga led the additional force to the school around 2am. We stayed on the campus till 7am,” he said. A section of police officers said the patrol team had made a strategic mistake. “It was foolish to use the same route for entry and exit, besides entering a forested stretch at night,” one of them said not willing to be named. Senior police superintendent, Ranchi, Praveen Kumar, however, claimed that the security team had been caught unawares. CRPF jawan Yadav has been admitted to hospital, where his condition is said to be stable.

http://www.telegraphindia.com/1090827/jsp/frontpage/story_11413917.jsp

Land shark boot shifts to other foot

BISWAJIT ROY AND ZEESHAN JAWED

Gaffar Mollah in 2006 Calcutta, Aug. 26: The acrimony of Nandigram and Singur has given way to political harmony in Vedic Village but for a discordant note from an unexpected quarter. Neither the Trinamul Congress nor the CPM has yet raised their voices on the Vedic Village flare-up and allegations of forcible land acquisition. On the other hand, language expected from the usual crusaders for land rights has flowed from the lips of state home secretary Ardhendu Sen, known to be an acolyte of chief minister Buddhadeb Bhattacharjee. Words such as “land mafia” and “acquisition at gunpoint” were uttered over the past few days by Sen, not by Mamata Banerjee or by Abdur Razzak Mollah, the land and land reforms minister who cast himself as a vocal critic of the acquisition policy at cabinet meetings and is portrayed by others as a future contender for bigger responsibilities. Bengal’s land boot has shifted to the other foot, to the chagrin of some and the mirth of others. “A lot of big fish are involved… I will speak out when the time is right,” Mollah told The Telegraph today. If Mollah is planning to cast his net wide near Vedic Village, he should hope that his trawling abilities are as poor as the land management skills of his department. Otherwise, the net is certain to trap both CPM and Trinamul fish. Ask Mrityunjay Gour, a CPM supporter sitting in a party office in Shikharpur near Vedic Village, the reason for the silence by the key parties at a time grievances over land acquisition have changed the political wind. He smiles and says: “If the Trinamul leadership or our leaders start agitating against the project and the project gets scrapped, do you think people will hold the flags of their parties? All parties have benefited from the project.” Gour supplies sand to construction sites coming up along the road leading to Vedic Village. The middle-aged man, in white kurta and pyjama, had also supplied sand when construction was at full swing at the resort. “I got contracts because I had party connections,” he said. The list of beneficiaries does not include CPM cadres alone. Arabul Islam, Trinamul’s MLA from Bhangar, said his brother Khude Mollah was on Vedic Village’s payroll. “Khude is an employee of Vedic Village. The village authority has employed around 500 local youths with allegiance to different political parties. My brother is one of them,’’ the Trinamul MLA said. Raj K. Modi, the chief of Vedic Realty, debunked suggestions that the project showered benefits on those with political connections to ensure patronage from all sides. “We wanted to give employment opportunities to local people irrespective of their political affiliations,” Modi said. Examples of beneficiaries with political connections abound in the five mouzas — Bagu, Shikharpur, Bajetaraf, Uriapara, Uttor Gazipur — around Vedic Village and adjoining areas. Dipankar Naskar, a nephew of Dolly Naskar, the panchayat pradhan of Chandpur gram panchayat, has bagged the contract to develop an 80-bigha garden for Vedic Village. Similarly, Rahman Molla, 36, has got the contract to supply stone chips for two years at Vedic Village. Overseeing the unloading of a truck, he admitted that his father was close to Rabin Mondol, the CPM MLA from Rajarhat. “Everyone knows that I am a Trinamul worker and my aunt is the panchayat pradhan,” said Dipankar, before getting into his brand-new hatchback for a business trip to East Midnapore. “There is nothing wrong in people giving up their land voluntarily…. But the problem here is a lot of people had to sell their land under duress and no political party came to their rescue,” said a schoolteacher. While police are looking for Gaffar Mollah, a local tough who had allegedly coerced people to sell land for the project, the schoolteacher said several land sharks were active in the area and they had political patronage. Trinamul sources said Mamata was apprehensive that an aggressive agitation might boomerang on her party. “Didi is annoyed with MLA Arabul Islam and has asked him to keep mum,” said a Trinamul source. “Party leaders like Mukul Roy and Subrata Bakshi (the party state president) have told me to keep shut as the leadership will deal with the CPM’s mud-slinging against me,’’ Islam said. CPM leaders, too, face a similar predicament. Local party leaders conceded that deep digging would not stand them in good stead. They referred to a thorny issue: Mollah’s land and land reforms department had agreed to an out-of-court settlement with the Vedic promoters, bailing them out of legal complications. Besides, the government is also joining hands with Vedic Realty to develop an integrated IT township over 1,600 acres. “The issue is likely to be discussed in the party state committee,” said veteran CPM leader Benoy Konar.

http://www.telegraphindia.com/1090827/jsp/frontpage/story_11414960.jsp

Sensex quiet; Bharti, Wipro, SBI lead, ITC, ICICI Bank dip Moneycontrol.com - ‎1 hour ago‎ At 12.00 pm, the Sensex was quiet in trade. Both the equity benchmarks were trading near their previous closing values. The Nifty was trying to move towards the 4700 mark but selling at higher levels was putting pressure. Nifty little changed; Tata Motors, HUL up Economic Times Sensex flat; Consumer Durables index up 5% Business Standard India Infoline.com - NDTV.com - SamayLive all 378 news articles » हिंदी में BOM:532454 - BOM:507685 - BOM:500570 Email this story BGR Energy bags Rs 1633-cr power order Hindu Business Line - ‎54 minutes ago‎ MUMBAI: Power equipment supplier BGR Energy Systems on Thursday said it has bagged order worth Rs 1633.71 crore for the construction of thermal power project. BGR Energy gets Rs 1634 cr order Business Standard India Hot Stocks: BGR Energy extends gains on order win Reuters India India Infoline.com - Myiris.com all 8 news articles » BOM:532930 Email this story Rediff Harley-Davidson to sell bikes in India in 2010 Reuters India - Himani Sarkar - ‎20 minutes ago‎ NEW DELHI, Aug 27 (Reuters) - Harley-Davidson Inc (HOG.N: Quote, Profile, Research) plans to start selling its motorcycles next year in India, the world's second-largest market for bikes, the US-based company said on Thursday. Harley Davidson set to begin India chapter Business Standard Harley-Davidson to sell bikes in India in 2010 Reuters Rediff - Bloomberg - Wall Street Journal all 39 news articles » HOG Email this story odishatoday.com POSCO to start work on delayed Orissa plant in 2010 Reuters India - ‎3 hours ago‎ BHUBANESWAR, India (Reuters) - South Korean steelmaker POSCO will start construction early next year of a $12 billion India project that has been delayed by farmers' protests, the company president said. POSCO denies calling off Orissa project IBNLive.com POSCO denies reports of moving out of Orissa Moneycontrol.com SteelGuru - Business Standard - Economic Times - Sify all 63 news articles » Email this story Rediff Ambani dispute hurts markets, says Pranab Financial Express - ‎4 hours ago‎ New Delhi: The ongoing spat between the Ambani brothers over the pricing of natural gas will negatively impact domestic capital markets and the larger interests of industry and government, finance minister Pranab Mukherjee said on Wednesday. Ambanis must sort out row in nation's interest: Govt Indian Express High gas price, NTPC spat put RIL in a spot Economic Times Business Standard - Times of India - Hindu Business Line all 229 news articles » हिंदी में BOM:500325 Email this story VHP man in the net after raids recover Rs 10cr Times of India - ‎2 hours ago‎ JAIPUR: Rajasthan's income-tax department recovered over Rs 10 crore from eight bank lockers of a stock broker in Jaipur on Tuesday. Video: 10 crores. In cash. In a Jaipur broker's home NDTV.com Rs 10 crore seized from senior VHP leader in Jaipur Press Trust of India India Today - Ub News - myPOPKORN - Thaindian.com all 20 news articles » Email this story Nagarjuna Construction bags orders worth Rs 311 cr Business Standard - ‎17 minutes ago‎ Nagarjuna Construction Company Limited secured three new orders worth Rs 311 crore including one for Rs 182 crore from Osmanabad Municipal Council for augmentation of the water supply scheme and has to be completed in 18 months. Nagarjuna Const gets orders worth 3.11 billion rupees Reuters India Nagarjuna Const up on bagging orders worth Rs 311cr Moneycontrol.com Myiris.com all 3 news articles » Email this story Siliconindia.com Religare reiterates Buy on Aban Offshore with target of Rs 2004 Economic Times - ‎28 minutes ago‎ MUMBAI: Religare Securities has reiterated its 'Buy' recommendation on Aban Offshore with a price target of Rs 2004. The company recently announced deployment of four of its seven idle rigs which will bring in revenues worth $695 million. Aban: new contracts send stock soaring to close at Rs1,536 Livemint Aban Offshore zooms 27% on bagging order Business Standard Moneycontrol.com - India Infoline.com - Bloomberg all 25 news articles » हिंदी में NSE:ABAN.BL - BOM:523204 - NSE:ABAN.BT Email this story Indian Express Infosys, Wipro hit 52-week high on BP deal Business Standard - ‎15 minutes ago‎ Major IT stocks had gained significantly during the run-up to a major outsourcing deal worth $1.5-billion from UK. Indian IT majors Tata Consultancy Services (TCS), Infosys Technologies and Wipro, besides global IT giants IBM and Accenture bagged a ... Brokerages being irrationally exuberant on IT: Infosys Moneycontrol.com TCS, Infosys, Wipro win a slice of BP outsourcing deal Hindu Business Line MediaMughals | Technology First - Times of India - Economic Times all 120 news articles » हिंदी में BOM:500209 - BOM:507685 - NSE:INFOSYSTCH.IL Email this story Rediff ICICI reduces rates for new home loans Times of India - ‎12 hours ago‎ NEW DELHI: The largest private sector bank, ICICI Bank, launched new home loan schemes at lower interest rates for new borrowers. Under the new offer, interest rates for up to Rs 20 lakh is 8.75%. ICICI Bank launches special offer for new home loans Economic Times ICICI launches special offer for new home loans Times of India all 10 news articles » NSE:ICICIBANK.BL - BOM:532174 - NSE:ICICIBANK Email this story Rediff Bharti, MTN Close in on a Deal Wall Street Journal - Costas Paris, Se Young Lee - ‎41 minutes ago‎ SINGAPORE -- Bharti Airtel Ltd. is offering shareholders of South Africa's MTN Group Ltd. roughly $13.1 billion in cash and shares for a 49% stake and the two sides are close to an agreement, ... Rising rand may see Bharti pay more cash Economic Times Bharti & MTN work on finalizing deal; issues linger Reuters India Business Standard - Moneycontrol.com - Financial Express all 78 news articles » BOM:532454 - NSE:BHARTIARTL.BL - NSE:BHARTIARTL.BE Email this story Hindu Business Line Indian sugar mills contract imports at high prices-paper Reuters India - Mayank Bhardwaj - ‎3 hours ago‎ NEW DELHI, Aug 27 (Reuters) - Sugar mills in India's northern parts have contracted imports of 400000-500000 tonnes of raw sugar at $510-$520 per tonne, cost and freight, the Hindu Business Line newspaper said on Thursday. Govt raises levy sugar quota 16% Business Standard Mills in North contract raw sugar for imports at $520/t Hindu Business Line Economic Times - fnbnews.com - Hindu Business Line - Reuters India all 10 news articles » Email this story Reuters India Inflation jumps: Will RBI start hiking rates? Moneycontrol.com - ‎2 hours ago‎ Inflation still seems to be on an uptick. The wholesale price index (WPI) for week-ended August 15 stood at -0.95% versus -1.53% in the previous week. Wholesale prices fall 0.95%; food still costly Hindu Business Line Food prices surge 13.3 pct y/y; WPI falls Reuters India Times of India - Myiris.com - NDTV.com - Hindustan Times all 41 news articles » Email this story Hindu Business Line Core sector growth slumps to 1.8% Business Standard - ‎10 hours ago‎ Hopes of a recovery waned today, with data for output growth of six core industries dropping to 1.8 per cent in July, the lowest in the current financial year, and significantly behind a 6.8 per cent growth in June and 5.1 per cent in July last year. Core sector index grows just 1.8% in July Economic Times Core sector growth dips to 1.8% in July Hindu Business Line Financial Express - Times of India - Calcutta Telegraph - Press Trust of India all 29 news articles » हिंदी में Email this story Cipla to ink patent deal with Chinese partner Moneycontrol.com - ‎2 hours ago‎ Pharmaceutical major Cipla is all set to ink a deal with a Chinese partner for a series of off patent anti-cancer drugs. The drugs are expected to be launched in the next two years. Cipla plans to raise Rs 1500 cr to retire debt, fund capex Economic Times Cipla to raise Rs1500 crore; eyes Chinese partner domain-B Hindu Business Line - Myiris.com - SamayLive all 9 news articles » BOM:500087 Email this story RNRL September futures adds 1.31 cr shares Sify - ‎2 hours ago‎ Chennai: Turnover remained moderate at Rs 78077.71 crore in the F&O segment on Wednesday. The Nifty July futures closed at 4680.85 while the September futures closed at 4691.5 against the spot close of 4680.85. Nifty OI PCR rises to 1.31 vs 1.25 Moneycontrol.com F&O Outlook: Nifty may remain range-bound today Business Standard India Infoline.com - Moneycontrol.com all 8 news articles » Email this story Indian Express HC rejects judicial probe into Batla House encounter Economic Times - ‎10 hours ago‎ NEW DELHI: In a setback to cop bashers and civil rights alarmists, the Delhi high court on Wednesday accepted the findings of NHRC giving clean chit to Delhi Police in the Batla House encounter case and declined to institute a judicial probe. Court's no to another probe into Batla House shootout Sify HC issues notice to Press Council on court reporting Press Trust of India Expressindia.com - Hindustan Times ePaper - Business Standard - Daily News & Analysis all 66 news articles » Email this story Rediff Passengers to pay airport development fee, rules high court Sify - ‎13 hours ago‎ The Delhi High Court, while dismissing a public interest petition, Wednesday ruled that the collection of airport development fee (ADF) from passengers is not an irregularity on the part of the Airports Authority of India (AAI). Airport development fee at Delhi, Mumbai legal, says Court Hindu Business Line HC nixes legal challenge on airport levies Livemint Economic Times - Stock Watch - Hindustan Times ePaper - Times of India all 52 news articles » हिंदी में Email this story

The selection and placement of stories on this page were determined automati

FII View

Select
Indian Markets
Global Markets
ADRs/ GDRs
Pre Market Cues
Post Market Cues
F&O Markets
Stocks In News
Technical Calls
Hot Stocks
Stock Views
Brokerage Reports
FII Interviews
Market Interviews
CNBC-TV18 Reports
Udayan's Comments

Global mkts still uncertain; India to do well: Jim Walker

10:28 AM | 27 August

The
outlook on global economy still remains uncertain, said Jim Walker of
Asianomics. He added that global economy is more problematic than
thought of...

See Sensex slipping to 13,600, Nifty to 4000: Ray Barros  

01:37 PM | 25 August

Ray
Barros, CEO, Ray Barros Trading Group said, the US markets was showing
signs of temporary peak. On Indian markets, Barros said, the minimum
downsi...

Long-term investor? Buy at these levels, says Credit Suisse  

02:04 PM | 24 August

Risk
appetite among high-net-worth investors has improved, Sai Tampi,
Director and Head – Portfolio Management, Credit Suisse, said. In an
interview t...

F&C Investment picks long-term winners: RIL, HDFC  

11:50 AM | 24 August

Jeff
Chowdhry, Head - Emerging Equities of F&C Investments, a
significant FII in the Indian market, said there were short-term
concerns over the India...

Unfazed by China correction, JPMorgan says bull mkt is back  

02:05 PM | 22 August

Adrian
Mowat of JPMorgan said the stock market is back in bull market terrain.
Talking about the recent China correction on concerns of monetary
polic...

India, China to see 4-5% correction ahead: Ralph Acampora  

11:20 AM | 21 August

Ralph
Acampora, Technical Analyst at the New York Institute of Finance said
that India and China were going through a near-term correction and that
he...

Mkt fairly valued; buy commodities, financials: Blackstone  

10:45 AM | 21 August

Punita
Kumar Sinha, Senior MD at The Blackstone Group said that the investor
interest in India was high but were concerned about investing fresh
money...

BNP Paribas revises Sensex target to 20,100  

10:55 AM | 20 August

Clive
McDonnell, Head of Equity Strategy, BNP Paribas Securities, in an
interview with CNBC-TV18 said he had raised his Sensex target to 20,100
and ad...

Chinese mkt may correct 15-20% further: Bowen Cap  

02:43 PM | 19 August

With
the news of collapse in Chinese equity markets making news globally,
how does it affect other markets? Aadil Ebrahim of Bowen Capital said
that C...

Credit tightening concern for China's GDP: Swiss Asia Cap   

01:08 PM | 19 August

Juerg
Kiener, Managing Director and CIO of Swiss Asia Capital said, there is
concern regarding China’s GDP growth on credit tightening. He said
China ...

China, India to tighten liquidity ahead: UBS  

04:37 PM | 18 August

Bhanu
Baweja, Head - Research and Emerging Market Strategy, UBS, says China
is a very sentiment driven, volatile market. He sees liquidity in China
an...

China correction may continue for 2-3 weeks: Credit Suisse  

11:21 AM | 18 August

The
correction in Chinese market, which resulted in the global market
meltdown on Monday, August 17, may continue for two-three weeks, says
Robert Par...

Chinese market may see 10-15% pullback: Christopher Palmer  

05:15 PM | 17 August

Christopher
Palmer, Gartmore Investment Management said that the market moves would
be more technical than fundamental. “I have seen over-reaction in ...

Meia FactSet Europe sees profit taking across global mkts  

05:10 PM | 17 August

Bobby
Rakhit, MD, Meia FactSet Europe, says the markets have popped up along
with the valuations spiking up. He believes there is profit taking
across...

Asia to see more inflows in H2 2009: Credit Suisse AMC  

02:40 PM | 17 August

Christoph
Avenarius, Credit Suisse AMC said that more money allocated from the
very large asset allocated in the world straight into Asia may
actually...

| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | Next »

On Moneycontrol

• Latest
• Most Popular

27-08	Tata Steel Q1 cons operating profit seen...
26-08	See rice production hit by about 22%: Sh...
25-08	HCL Tech may shift to utility-based outs...
25-08	HCL Tech FY09 net income up 13.6% to Rs ...
25-08	HCL Tech Q4 beats street; co promises hi...

27-08	Tata Steel Q1 cons operating profit seen...
25-08	HCL Tech may shift to utility-based outs...
12-08	Aban Offshore: Experts on the FY10 earni...
07-08	See revenue pick-up in FY11: Simplex Inf...
05-04	Edelweiss expects TCS to report Q4 net p...

Ads by Google

Post Q1 Midcaps 70% discount from 52 week High. Pick RealGems before they Zoom! www.midcaps.in/Post-Q1-Midcaps

Intra Day Trading calls Trade on sure calls in intraday up to 90% accuracy www.SnpNifty.com

Live Commodity Prices Four Week Free Trial. Signup Today. Prices, Stocks & Trading Reports. www.lmelive.com

Find Top 10 Stocks Learn Share Market Trading in Free Pick, Learn & Invest.Try, It's Free www.fourstocks.com/Stock-Trading

Sensex 21,000 By July 2010. Get This Free and Exclusive Presentation NOW. Equitymaster.com/Sensex_21000

Intra-Day Trading Tips Earn 100-200% Per month by Trading more than 90% accurate www.CallOptionPutOption.com

Learn About Forex carry trade Forex Training Classes, Lessons. Get started trading Forex. www.Babypips.com/StartTradingToday

Sign in / Register 

Feedback

Make this your Home

Chat

Sandeep Shanbhag

Investment Consultant , Wonderland Investments

(27 Aug- 16:00hrs)

Investments & Taxes  

Upcoming Chat Schedule »

Previous Chat Transcripts »

What the stars foretell

Bejan Daruwala

Ganeshaspeaks: Market prediction for Aug 27

View all astrologers

India over 10 years

See what's improved/ worsened

FII Investments »

FDI »

Exports »

Imports »

GNP »

See all »

For hassle free instant subscription just give your number and email id and our customer care agent will get in touch with you.
Mobile:
Email:
OR

Poll

Would you buy Aban Offshore after its order wins?

Yes	No
Can't Say

 
View Result  View all comments

http://www.moneycontrol.com/india/news/stockmarket/fiiview/13/05/123

After Nilekani, another Bangalorean makes it to Delhi!

After
Infosys top honcho Nandan Nilekani made it to Delhi to take up the
national ID mission, another Bangalorean has made it to a top position
in Delhi.

Founder
of Narayana Hrudayalaya and well-known interventional cardiologist Dr
Devi Shetty has been appointed as member, advisory board of National
Council for Human Resources in Health. The prestigious appointment has
been made by the Union Health Ministry.

The advisory board of
National Council for Human Resources in Health is tasked with
overhauling health care resources in the country and also oversee the
functioning of several regulatory bodies in medical education including
the Medical Council of India (MCI) and the Dental Council of India.

Dr
Shetty along with Dr K Srinath Reddy, president, Public Health
Foundation of India, New Delhi, and Prof Ranjit Roy Chaudhary had a
review meeting of the council with PM Manmohan Singh on Wednesday.

The markets slid into a consolidation mode ahead of the crucial August F&O expiry. The Sensex
remained on the higher side throughout the session led by buying in
technology post upgradation of Infosys by CLSA, and the rally in
realty, cement and power stocks. Solid global cues gave traders a leg up and the frontline indices closed with modest gains. At closing bell, the Sensex traded in a range of 15750-15810 and the Nifty saw 4665-4690 range throughout the session.

Food prices surged an annual 13.3 percent in mid-August even as the
overall wholesale price index fell, and the impact of a poor monsoon on
inflation and the economy could prompt further government relief steps.

The widely watched wholesale price index fell 0.95 percent in the
12 months to Aug 15, its 11th successive fall. That compared with a
1.53 percent decline in the prior week and a market forecast for a
decline of 1.41 percent.

The food articles index surged 13.3 percent from a year earlier as
drought has hit nearly half of India's districts, eroding crop
production and raising major headaches for policy makers.

"Food prices are rising sharply and this will bring the WPI into
the positive zone within a month," said D.K Joshi, principal economist
at rating agency Crisil.

"It won't influence the present easy monetary stance."

A poor monsoon and a possible decline in farm output could lower
overall growth in Asia's third-largest economy in 2009/10 (April/March)
by 1 or 2 percentage points, economists have said.

Officials have said mitigating the impact of the drought conditions
is the government's priority, although any extra spending would not
raise market borrowing beyond the projected record of 4.51 trillion
rupees ($92 billion) for 2009/10.

Separate data on Thursday showed infrastructure output grew 1.8
percent in July from a year earlier, slower than an upwardly revised
6.8 percent in June.

The government will continue a tax refund scheme for exporters until
December 2010 while a duty-free export promotion scheme will be valid
until March 2011, trade minister Anand Sharma said on Thursday.

India exports more than a half of its merchandise to the United
States, Europe and Japan. Exports were down 31.3 percent in the quarter
that ended in June 30 from a year earlier.

India's trade minister unveiled a new foreign trade policy on Thursday.

The government remains committed to a successful end to the Doha
round of the World Trade Organisation talks, Trade Minister Anand
Sharma said on Thursday.

India has targeted exports of $200 billion by March 2011, Sharma
said while announcing India's trade policy for the fiscal year 2009/10.

India's trade pacts with South Korea and the Association of
South-East Asia Nations (ASEAN) would help boost the country's exports,
he added.

Commerce Minister Anand Sharma
unveiled the foreign trade policy today. While staying away from
announcing any major sops for any sector, the minister maintained
status quo by not rolling back incentives announced in the previous
policy.

The
policy continues with the DEPB scheme for exporters till December 2010
and also with Section 10A benefits for IT sector exports. The
government did introduce one new incentive though: a zero-duty EPCG
scheme for specific sectors. Sharma added that the government would
ensure that the dollar needs of exporters would be met.

The
policy’s immediate objective was to arrest the fall in exports, the
minister said, adding that the government was aiming at USD 200 billion
of exports by March 2011, an annual growth of 15% in exports in 2010-11 and that India was looking to double its share in global trade by 2020.

There
would be a special thrust to employment-oriented export units, Sharma
said, adding that the government was looking to expand the export
market to Africa and Latin America. “We are committed to the successful conclusion of the Doha Round WTO talks,” he said.

India plans to cut transaction costs for exporters and ensure the
availability of dollar finance as it looks to reverse a decline in
exports and double outbound sales of goods and services over the next
five years.

Commerce and Industry Minister Anand Sharma, who reiterated India's
commitment to a successful end to the Doha round of World Trade
Organisation talks, said on Thursday he expects exports to reach $200
billion in the fiscal year ending March 2011.

India's exports were $168.7 billion in 2008/09, but have been have
been falling in annual terms since October as the global credit squeeze
followed by recession in developed nations sapped demand.

Exports were down 31.3 percent in the quarter that ended in June 30 from a year earlier.

Outlining a trade policy for the five years ending March 2014, the
minister said he expected exports of goods and services to double.

"We would like to achieve an annual export growth of 15 percent
over 2010/11 with an annual export target of $200 billion by March
2011," Sharma said.

"In the remaining three years of this foreign trade policy up to
2014, the country should be able to come back on the high export growth
path of around 25 percent per annum," he said, adding that the
government's focus would be on export sectors with high employment.

Since October, as the global downturn hit India harder than
expected, the central bank has slashed interest rates and government
offered tax breaks and interest subsidies to lift exports and prevent
massive job losses.

Economic Times reports:

US fund houses launch five India-specific ETFs!

American fund houses have launched five more India-specific exchange-traded funds (ETFs) to tap the growth potential of Asia’s Six stocks that beat blue chips | Volatility in the stock markets | Measuring market volatility | Ten hot money-spinners in India | Long term plan for better returns | Should you sell your stocks? third-largest economy that defied the global recession to post an impressive growth rate of 6.7% last financial year. These funds are BGI S&P India Nifty 50, Direxion India Bull 3x Shares, Direxion India Bear 3x Shares, SPDR S&P India and WisdomTree India Total Dividend. The fund houses have filed their papers with the Securities Exchange Commission (SEC), said a person familiar with the matter, requesting anonymity. ETFs are open-ended funds that are designed to track specific indices and trade just like any other stock. They are priced continuously and can be acquired by placing an order with a stock broker during trading hours. Direxion Shares and Direxion Funds, managed by Rafferty Asset Management, offer leveraged index funds that buy more shares than you can with cash, ETFs and alternative-class fund products for investment advisors and sophisticated investors who seek to effectively manage risk and return in both bull and bear markets. SPDR ETF, managed by the Boston-based SSgA Funds Management, are index funds that track the S&P 500 Index. Barclays Global Investors or BGI has filed papers for a new ETF linked to the S&P India Nifty Index. Currently, there are just two India ETFs, from PowerShares and WisdomTree. However, many other providers are looking to capitalise on the country’s growth. As on July 30, WisdomTree India Earnings (EPI) was up 63.7% year-to-date, while PowerShares India (PIN) was up 52.7% year-to-date. The two India ETFs have more than $560 million in assets. As one of the few economies that grew in a year that saw most of the world in recession, India has a growing acceptance among global investors, said Ashu Suyash, India head of Fidelity International. “A possible reason for the surge in ETFs investing in India is that risk appetite has returned sufficiently for investors to look at emerging markets again... As allocations grow, investors will begin to look for the alpha and follow a more actively-managed investment strategy,” she said. Also Read  → Nine out of 13 sectoral indices outperform Sensex  → Investment: Learn from past mistakes for a secure future  → IT stocks top returns chart on Dalal Street  → Some long-term investors still give demat a miss California-based ETF expert Tom Lydon said investors increasingly recognise that ETFs make it easier to access markets that have certain restrictions (such as limits on foreign investment) or liquidity issues. ETFs have become big investors in India, basically because the US retail investor has accepted India as part of his global equity portfolio, said Samir Arora of the Singapore-based Helios Capital Management. “That money cannot be easily raised by other intermediaries,” he said. Over 25% of secondary market inflows were through this route in recent months, according to Credit Suisse. “ETFs are perhaps securitising emerging markets like India in the current global liquidity wave, the way previous liquidity waves saw securitisation of internet or developed world real estate,” said Nilesh Jasani and Arya Sen of Credit Suisse. While there will be occasional outflow cycles in coming years, the overall influence wielded by ETFs is expected to grow larger. FII buying in India from April 1, 2009 is close to $9 billion. A recent study by Novarica, a research and advisory firm serving insurers and wealth management companies, says globally the number of ETFs will shoot up from 728 in 2008 to 2,618 by 2015, while ETF assets will increase from $500 billion to $1.15 trillion.

http://economictimes.indiatimes.com/US-fund-houses-launch-5-India-specific-ETFs/articleshow/4938789.cms

FIIs buy shares worth Rs 378 cr

oreign institutional investors (FIIs) today made a net investment of Rs 378.54
crore in the domestic stock

markets.



FIIs were the gross buyer of
shares worth Rs 2,289.71 crore, while they sold stocks valued at Rs 1,911.17
crore, resluting in a net purchase of Rs 378.54 crore, according to the
provisional data with the Bombay Stock Exchange

(BSE).



Domestic
institutional investors were also bullish and purchased shares worth Rs 128.65
crore.



Yesterday, FIIs were the net seller of shares worth Rs 53.60
crore, the latest data with the SEBI shows.



However, in today's
trade, the non-resident Indians and brokers, on the behalf of their clients,
booked profit and in total sold shares worth Rs 138.01 crore, as per the BSE
data.



Propritors were optimistic and purchased shares worth Rs 43.64
crore.



The BSE benchmark index Sensex today closed at 15,769.85, up
81.38 points or 0.52 per cent from its previous close.

Reuter reports:

* Targets exports to reach $200 bln by March 2011

* Trade policy thrust on employment-oriented sectors

* Committed to successful end to Doha round
(Updates with details, background)

By Rajkumar Ray and Manoj Kumar

NEW DELHI, Aug 27 (Reuters) - India plans to cut
transaction costs for exporters and ensure the availability of
dollar finance as it looks to reverse a decline in exports and
double outbound sales of goods and services over the next five
years.

Commerce and Industry Minister Anand Sharma, who reiterated
India's commitment to a successful end to the Doha round of
World Trade Organisation talks, said on Thursday he expects
exports to reach $200 billion in the fiscal year ending March
2011.

India's exports were $168.7 billion in 2008/09, but have
been have been falling in annual terms since October as the
global credit squeeze followed by recession in developed
nations sapped demand.

Exports were down 31.3 percent in the quarter that ended in
June 30 from a year earlier.

Outlining a trade policy for the five years ending March
2014, the minister said he expected exports of goods and
services to double.

.

"In the remaining three years of this foreign trade policy
up to 2014, the country should be able to come back on the high
export growth path of around 25 percent per annum," he said,
adding that the government's focus would be on export sectors
with high employment.

Since October, as the global downturn hit India harder than
expected, the central bank has slashed interest rates and
government offered tax breaks and interest subsidies to lift
exports and prevent massive job losses.

Sharma said India would extend a tax refund scheme to
December 2010 and extend other tax incentives for exporters to
the end of 2010/11.

Exports grew at a rate of more than 20 percent annually
between the 2004/05 and 2007/08 fiscal years, helping the
economy post robust growth before the global downturn.

Exports contribute 17 percent to India's gross domestic
product, smaller than many other Asian nations.

The Doha round of world trade talks, launched in the Qatari
capital in 2001, has made halting progress as WTO members
squabble over calls to cut tariffs and subsidies to boost
commerce in food, goods and services.

http://in.reuters.com/article/domesticNews/idINDEL48694620090827?pageNumber=2&virtualBrandChannel=0

TV entertainment channels double online promo spending

Online
promotion spending by general entertainment television channels (GECs)
have risen by around five percentage points as compared to the previous
year — from 3-4 per cent to 8-10 per cent this year of the total
marketing budget. Typically, this total amount for a GEC ranges between
Rs 40 crore and Rs 90 crore, depending upon the channel.

"There
has been more than a 100 per cent jump in the spends. All GECs are
spending on the digital medium, as it is the only one from where you
can get responses well and fast. It is a crucial strategy for creating
brand awareness and reaching out to the young. It also has the
advantage of becoming interactive. For channels like Colors and MTV,
the online medium is playing a bigger role than it used to do earlier,"
said Maneesh Mathur, Chief Operating Officer of P9 Integrated, a film
entertainment marketing company.

"Although there are other
established media like print and TV, there is a problem in terms of
buying spots to promote a channel. For instance, Colors cannot buy a
spot on STAR Plus to promote itself because they are competitors. So,
they buy spots on AajTak and other news channels, where the basic reach
is small. But to overcome this problem, the effectiveness of social
networking sites have been realised, adds Mathur.

Viacom 18, for
instance -- which is promoting its channels MTV, Colors, Nick and Vh1
on the web -- is spending almost 10 per cent of its marketing budget on
online promotion. "Along with this, we have tied up with Orkut and
Facebook in a non-commercial agreement, wherein both sides see a
certain mutual benefit and value in the association. There have been
certain other tie-ups (with the likes of MSN, Ibibo) wherein we have
parted with our content and/or offered them tremendous branding and
visibility and hence earned revenues for that," said Anuj Poddar,
Senior Vice President.

"GECs seldom use online platforms for
marketing fiction shows, but for non-fiction shows, 10 per cent of the
spends could be towards online promotions. I believe there's scope for
more," adds Poddar.

When asked if there has been an increase in
the investments by GECs, Poddar says: "Traditionally, GECs did not use
the digital platforms much for their marketing activities, but we are
starting to see this evolve. As shows themselves get hippier and the
target group younger, marketing spends, too, will follow towards
younger media. We have gone from zero to spending about 10-20 per cent
for non-fiction shows."

Channels like MTV, NDTV Imagine, Sony and
Colors have also come with interesting content on the web like MTV's
Facebook Connect -- Facebook users can post who they think their
Celebrity Look-Alike is. If the judges on MTV Connected feel so, you
get a chance to be featured on the show. On Roadies Battleground 2,
watch MTV, note down the tasks, go to the website MTVindia.in and
upload the video of yourself performing the task. If you impress the
judges, they'll let you participate!

Also, recently for the show
Rakhi Ka Swayamvar they came out with a game where you can kiss Rakhi
online. Around 81 per cent of the online Indian population, according
to a report by Hungama Digital Media, engages in some kind of social
interactivity on the web, making it an ideal place for the GECs to draw
young crowds.

"For us, we see the net as a core platform to
engage and entertain our audiences. The only difference is that in
India, entertainment through the internet has yet some distance to go
before catching up with TV. However, this catch-up is happening much
more rapidly amongst the youth. Hence, out of our four brands, MTV
right now is the most evolved online and by default, we now have a
multi-platform approach to most MTV shows. Similarly for Colors, we do
things online more with the non-fiction shows than the fiction shows,
due to the differing TG. Interestingly, kids' online presence is
growing exponentially and hence we have created a very vibrant site for
them at nickindia.com. Just like its TV avatar, nickindia.com now
enjoys the highest time-spent per kid amongst all the kids' channel
sites," says Poddar.

The online promotion for Sony's Bhaskar
Bharti and Iss Jungle Se Mujhe Bachao is carried out by Ignitee Digital
Solutions, a digital marketing company. Danish Khan, marketing head of
Sony Entertainment, says: "We are spending 8 per cent from our total
marketing budget on online promotions."

Atul Hegde, Chief
Executive Officer of Ignitee Digital Solutions, is also not surprised
by the increase in spending. "I see a lot of viability for this trend
to grow, as the target audience the GECs are targeting through social
media are mostly in the age groups of 15-25 years and online is the
best way to attract that target group."

Source: BS

Global mkts still uncertain; India to do well: Jim Walker

www.SharesPost.com

Jim
Walker, Managing Director, Asianomics told CNBC-TV18 in an exclusive
interview that the outlook on global economy still remains uncertain
and that the global economy is more problematic than thought of
earlier. He added that there was a long way to go before seeing a
V-shaped recovery. The stock market, Walker believes, doesn’t see global problems clearly.

With regard to India, Walker is of the view that investors must focus on returns instead of growth. India
will be the biggest winner among Asian markets, he said. According to
him, it will be very difficult to achieve 8% gross domestic product
(GDP) growth in India and that one should be content with a 5–6% GDP growth. He feels at 6% GDP also India will still be a fast growing economy. However, he also added that India’s domestic-demand driven growth is positive.
 http://www.moneycontrol.com/india/news/fii-view/global-mkts-still-uncertain-india-to-do-well-jim-walker/412980

Fund raising via ADRs may soon get easier

27 Aug 2009, 0304 hrs IST, Deepshikha Sikarwar,
ET Bureau

NEW DELHI: The government is examining
a proposal to amend its existing rules governing American depository receipts
(ADRs) to allow Indian

Six stocks that beat blue chips | Volatility in the stock markets | Measuring market volatility | Ten hot money-spinners in India | Long term plan for better returns | Should you sell your stocks?

companies easier access to the US market. It is
deliberating on whether Indian firms can access the most liberal form of
ADRs—level-I—that require very few regulatory disclosures while
allowing them to diversify their investor base and build a presence in the US
market that may help if they decide to raise capital later.



India
currently allows only level-3 ADRs/GDRs, which involve capital raising and
listing on the regular exchanges and greater disclosures, including costly
compliance with US laws. A finance ministry official told ET that the
deliberations had begun on whether Indian companies should be allowed to access
the US market through level-1 ADRs.



Level-I ADRs, the most liberal
form of depository receipts, allow non-US companies to access sophisticated
investors in the US market with minimal reporting requirements from the US
Securities and Exchange Commission

(SEC).



Companies issuing level-I
ADRs are listed only on the over-the-counter (OTC) exchanges in the US and do
not have to comply with the rigorous US accounting standards, US GAAP. This
regime has made it one of the most popular ADR programmes in the
US.

Also Read

→ Tips to build wealth with different products

→ Investment: Learn from past mistakes for a secure future

→ Some long-term investors still give demat a miss

→ US fund houses launch five India-specific ETFs

The official said
policy experts are divided on whether such ADRs should be allowed. The debate
now centres on whether it was the right time to allowing such a policy move.
Incidentally, the high-powered committee headed by the Prime Minister’s
economic advisory council and Planning Commission member Saumitra Chaudhuri set
up to look into the existing norms governing ADR/GDR issuances in its report in
early 2008 had opined then that it was not the right time to allow level
1.



The view against allowing companies access to such ADRs so far has
been that it allows export of Indian equity market abroad and does not generate
any value for the country. This would be particularly true in the case of Level
I ADRs where no new capital is issued.

Trade policy: Govt continues incentives, eyes high growth

Published on Thu, Aug 27, 2009 at 11:27 , Updated at Thu, Aug 27, 2009 at 12:54
Source : CNBC-TV18

Ads by Google

Sensex 21,000

By July 2010. Get This Free and Exclusive Presentation NOW.

Equitymaster.com/Sensex_21000

Commerce Minister Anand Sharma
unveiled the foreign trade policy today. While staying away from
announcing any major sops for any sector, the minister maintained
status quo by not rolling back incentives announced in the previous
policy.

The
policy continues with the DEPB scheme for exporters till December 2010
and also with Section 10A benefits for IT sector exports. The
government did introduce one new incentive though: a zero-duty EPCG
scheme for specific sectors. Sharma added that the government would
ensure that the dollar needs of exporters would be met.

The
policy’s immediate objective was to arrest the fall in exports, the
minister said, adding that the government was aiming at USD 200 billion
of exports by March 2011, an annual growth of 15% in exports in 2010-11 and that India was looking to double its share in global trade by 2020.

There
would be a special thrust to employment-oriented export units, Sharma
said, adding that the government was looking to expand the export
market to Africa and Latin America. “We are committed to the successful conclusion of the Doha Round WTO talks,” he said.

 

This news has just come in and complete details will follow shortly. We can send you an email alert when the details come. Register for your alert here.

Understanding how a demat account functions

August 27th, 2009

A
Demat account is very similar to a bank account. In bank accounts you
electronically hold money, whereas in Demat accounts you electronically
hold shares. All buying and selling of shares happens through a Demat
account. The Securities and Exchange Board of India (SEBI) mandates a
demat account for share trading above 500 shares.

With growing financial awareness, more
and more people now want to dabble in the share market. To do this, one
should understand the basic requirements to trade in shares.

A company enlisted in a stock exchange, is under obligation to offer
the securities in both physical and dematerialised mode. As the name
suggests physical securities mean actual certificates giving
information about the shares of a company owned by a person. In the
same manner, Dematerialisation is the process of converting physical
shares (share certificates) into an electronic form. Shares once
converted into dematerialised form are held in a Demat account. Today, almost all of the shares trading happens using the Demat mode of shares.

What is a Demat Account?

A Demat account is very similar to a bank account. In bank accounts
you electronically hold money, whereas in Demat accounts you
electronically hold shares. All buying and selling of shares happens
through a Demat account. The Securities and Exchange Board of India
(SEBI) mandates a demat account for share trading above 500 shares.

Why to use such an exclusive account?

By using a Demat account, you need not be worried about mutilated
share certificates, postal delays, and counterfeit shares. Demat
account is a safe and convenient means of holding securities just like
a bank account is for funds.

What are the features and benefits of a Demat account?

As opposed to the earlier form of dealing in physical certificates
with delays in transaction, holding and trading in Demat form has the
following benefits:

• Settlement of Securities traded on the exchanges as well as off market transactions
• Risks like forgery, thefts, bad delivery, delays in transfer etc, associated with physical certificates, are eliminated
• Shorter settlements thereby enhancing liquidity
• Pledging of Securities
• Shares allotted in public issues are directly credited into demat account of the applicants in quick time
• Auto Credit of Rights / Bonus / Public Issues / Dividend credit through ECS
• Auto Credit of Public Issue refunds to the bank account
• No stamp duty on transfer of securities held in Demat form (as against 0.5 per cent payable on physical shares)
• Increased liquidity, as securities can be sold at any time during
  the trading hours (between 9:55 AM to 3:30 PM on all working days), and
  payment can be received in a very short period of time
• Change of address, Signature, Dividend Mandate, registration of
  power of attorney, transmission etc. can be effected across companies
  held in Demat form by a single instruction to the Depository
  Participant (DP)
• Holding / Transaction details through Internet / email

What steps does on need to take to open a Demat account?

As majority of shares trading happens through a Demat account, it is
imperative that an individual dealing in shares has such an account.
The minimum age for opening a Demat account is 18 years. To open a
Demat account, you must:

1. Choose a Depository Participant or DP (A Depository Participant can
   be a financial organization like banks, brokers, financial
   institutions, custodians, etc., acting as an agent of the Depository to
   make its services available to the investors)
2. Fill up an account opening form provided by DP, attach relevant
   documents, and sign an agreement with DP in a standard format
   prescribed by the depository
3. The DP provides the investor with a copy of the agreement and schedule of charges for his future reference
4. DP opens the account and provides the investor with a unique
   account number, also known as Beneficiary Owner Identification Number
   (BO ID)

Are there any important things that one must remember about Demat accounts?

There are some things that you must know remember about Demat accounts:

• Pan card is mandatory for opening a Demat account (effective from April 01, 2006)
• Charges applicable (vary from DP to DP):
  
  • Account Opening Fee
  • Annual Maintenance Fee
  • Custodian Fee
  • Transaction Fee
  
  
• Similar to a bank account a Demat account may be closed after a
  period of inactivity. Check with the DP about the period and the
  charges associated with reactivating it.
• http://msn.bankbazaar.com/guide/understanding-how-a-demat-account-functions/

27/08/2009

ADR, GDR shouldn't decide a bank's nationality: Kochhar

New
Delhi: ICICI Bank has asked the government not to take into account
overseas securities such as American Depositary Receipt (ADR) and
Global Depositary Receipt (GDR) while deciding on a bank’s nationality.

Suggesting
that the Department of Industrial Policy and Promotion (DIPP) should
make a clarification on the issue of foreign holding in a bank, an
issue on which ICICI Bank's status depends, its Chief Executive Officer
and Managing Director Chanda Kochhar said, "We are an Indian bank and
we are proud of it."

Earlier this year, DIPP issued new foreign
investment guidelines, under which a company's status would change from
'resident' to 'non-resident' Indian, if it has more than 50 per cent of
indirect foreign investment, which would be a sum total of stake held
through ADRs/GDRs, foreign direct investment (FDI), non-resident Indian
(NRI) holding as well as foreign currency convertible bonds and shares.

ICICI
Bank has a little over 51 per cent stake held by foreign institutional
investors (FIIs), but it includes 29.07 per cent stake held through
ADRs alone -- thus changing its status to foreign bank as per the new
guidelines.

"We have written to DIPP and have given our logic. It
is important to clarify... We have not received a written response but
they are clearly working on addressing our concerns," Kochhar said.

Source: PTI

Exports will bounce in 2010

(D. H. Pai Panandiker is President of RPG Foundation. The views expressed in this column are his own)

By D. H. Pai Panandiker

External trade has been the worst victim of world recession.
Countries that depended more on trade were hit harder. The turn round
in most countries therefore depends on how fast the world economy
recovers.

World exports had increased in 2008 by a hefty 15 per cent to cross
$15.7 trillion. In volume, however, exports were up a mere 2 per cent.
The largest exporter was Germany closely followed by China.

They each had a share of about 9 per cent in world exports. India’s
share was a mere 1.2 per cent. Even so, exports do matter to Indian
industry because nearly 15 per cent of industrial production is
exported. The fall in exports was the main reason why industry got a
jolt in October.

The US which was the first to get into recession and would possibly
be the last to get out of it, is the largest importer. In 2008 its
total imports exceeded $2 trillion, more than 13.7 per cent of world
imports.

When US imports declined many countries found their exports and
consequently growth, shrink. US share in our exports in only 12 per
cent and our exports to US declined a mere 1.5 per cent.

WTO has estimated that world exports will contract about 10 per
cent this year. One reason is that the US may not recover before the
end of the year though Germany, France and Japan have been able to
cross into positive territory.   Continued...

http://in.reuters.com/article/economicNews/idINIndia-41931920090824

Salman tests IPL waters

SAMYABRATA RAY GOSWAMI

Mumbai, Aug. 26: If Salman Khan wants sweet revenge on Shah Rukh, all he needs to do is buy Sourav Ganguly should the Kolkata Knight Riders icon make himself available for bidding after the 2010 season. The rivalry between the Bollywood stars now looks set to extend to cricket with Salman planning to bid for an Indian Premier League team. The actor is said to have the backing of a real estate group that was once a sponsor of Shah Rukh’s Knight Riders. Salman, who met IPL commissioner Lalit Modi over lunch today at Taj Land’s End in Mumbai, was unavailable for comment. But a source close to the actor said Salman gave Modi a “Letter of Interest” seeking more information about the possibility of buying a team. “He does not plan to buy out an existing team. He is interested in buying a new team — he has been talking to Lalit Modi informally for some time. Modi briefed him about all the IPL bylaws for owning a team,” said the Salman aide. Salman, the aide clarified, was yet to make up his mind. “Bhai is checking out the waters. It is not as if he has signed on the dotted line, he is keen to find out everything before taking the plunge and that is what he did today,” the Salman aide said. That Salman was making more than just polite enquiries was confirmed by Modi. “He was interested to know what it takes to own a team, what’s the process, when it will be initiated and what’s the timeline for it. I think he is a serious buyer,” PTI quoted Modi as saying. IPL expects to add two more teams to its existing tally of eight from the 2011 season, when the current players, including icons like Sourav, would be up for re-bidding. The franchise may “cost over $200-300 million”, said a source. Salman, sources said, has expressed eagerness about Nagpur and Kochi, which are on the list of probables. The cities making the cut would need to meet IPL criteria, which, besides infrastructure, also look at returns on investment. The sources said four to five investors could be backing Salman — among them Sunny Dewan (aka Wadhawan), one of the promoters of HDIL, a listed real estate company. HDIL was a sponsor of the Knight Riders in the IPL’s inaugural edition, but had backed out in Season 2. “Sunny and his socialite wife Anu are old friends of Salman,” said a regular on Mumbai’s celebrity circuit. Sources close to Salman said the star was also in talks with friends Sanjay Dutt and Ajay Devgan to form a consortium for owning an IPL team. A spokesperson for Sanjay, however, denied any such plans. “There is nothing like that now,” he said.

http://www.telegraphindia.com/1090827/jsp/frontpage/story_11414872.jsp

Race reopens for Mamata’s rail job

INDRANIL GHOSH

Sudheendra Kulkarni (left) at Mamata Banerjee’s house as Atal Bihari Vajpayee’s emissary when she was the railway minister in the BJP-led NDA government Calcutta Aug. 26: Railway minister Mamata Banerjee has withdrawn her own recommendation to the Prime Minister’s Office for the appointment of a particular IAS officer as her private secretary, restarting a pan-India race that involves bureaucrats and factions of her own party that regard the post crucial because of the power and privileges associated with it. Returning to Delhi after her meeting last week with the captains of industry in Calcutta, Mamata wrote to the PMO cancelling the recommendation she had made for N. Manju Prasad, a former Bengal cadre IAS officer now belonging to Karnataka, Railway Board sources said. Known for a famous switch of cadre — Bengal to Karnataka — by taking the issue to the Supreme Court sometime ago, Prasad is believed to have managed to propel himself into the fray through Mamata’s trusted aide Mukul Roy, also the junior Union shipping minister and Trinamul Congress secretary. Roy, however, denied today any knowledge of, or involvement in, the affair. “As late as last week, we were advised to be ready to start interacting with him (Prasad) as her man on the job,” said a top Railway Board official in the know of the goings-on regarding the appointment. “Suddenly, we find the race has begun afresh with heavyweights on the stage.” Since she assumed charge of the ministry two months ago, Mamata has been scouting across the country for a bureaucrat who can be assigned to run her office, leaving her enough time to chase the objective of having Bengal’s ruling Left ousted from office in the 2011 Assembly elections. During her last stint as railway minister in the NDA government, Mamata’s private secretary was Sunil Chaturvedi, a former Bengal cadre IAS officer who, with help from the likes of Sudheendra Kulkarni, the erstwhile officer-on-special-duty in the PMO, crafted policies as well as shot trouble for her. After quitting the BJP, Kulkarni is again back with Mamata, who has put him on an important ministerial committee. But despite frantic wooing, Chaturvedi is unlikely to return, busy as he is heading an Indian multinational. This time, in search of a faceless minder, Mamata has “informally” interviewed nearly a dozen bureaucrats, mostly from the Bengal cadre. Some of them are regarded close to the ruling Left. But she has not been able to zero in on anyone as she apparently does not want to be caught on the wrong foot with the appointment. “We are facing a tricky situation,” said an official associated with the search. “People (IAS officers) are approaching us everyday either directly or through lobbies or mentors, but they are not the ones she would be interested in.” According to the buzz, among the aspirants who have had a session with Mamata is at least one senior IAS officer known for his proximity to chief minister Buddhadeb Bhattacharjee. Mamata, it is believed, had come close to taking a decision in favour of this bureaucrat, who enjoys the backing of a couple of senior Trinamul leaders, only to alter her position in view of the Bhattacharjee links. In an unpublicised move early this month, the Bhattacharjee government managed to retain the bureaucrat in Bengal by having him taken off the gunsight of the CPM’s Calcutta district committee and relocated in the urban development ministry under Asok Bhattacharya. Although a favourite of the chief minister, the bureaucrat has been scouting Delhi for a suitable posting, especially since he has become a target of the powerful CPM Calcutta unit. Party leaders in Calcutta have been lobbying for several changes in the civic administration ahead of next year’s crucial Calcutta Municipal Corporation elections. To get Mamata’s job, what must an aspirant have? Going by the complexion of the interviews held so far, Mamata is looking for someone who has no love lost for the Left, has a squeaky clean image and the skill to navigate through choppy politics, is comfortable handling political heavyweights at the national level and doesn’t mind a demanding boss. Kulkarni ‘switch’ Trinamul has dismissed as “baseless speculation” reports suggesting that former BJP ideologue Sudheendra Kulkarni may join the party, arguing that his links with Mamata’s rail ministry predate his resignation from the saffron party. Television channels this afternoon cited Kulkarni’s presence on a railway reforms panel headed by Ficci secretary-general Amit Mitra to suggest growing proximity to Mamata. But rail ministry sources clarified that Kulkarni had been named on the panel in July in Mamata’s railway budget, well before his resignation from the BJP. Trinamul sources also claimed that the party had not made any overtures to Kulkarni.

http://www.telegraphindia.com/1090827/jsp/bengal/story_11414810.jsp

Proletariat shatters boardroom class ceiling

SAMBIT SAHA

Industries minister Nirupam Sen with Caparo boss Swraj Paul at the boardroom when the Singur project was alive Calcutta, Aug. 26: Bengal’s proletariat has bowed to the dictatorship of a bourgeois habit: the air-conditioned boardroom. Leaders of a Citu-backed union yesterday strode into the boardroom of the West Bengal Industrial Development Corporation to hold a meeting there, foregoing the familiar surroundings of a room assigned to them elsewhere in the building. What was discussed at the meeting is not known. Little of substance was being dissected in the boardroom in any case since the Singur agitation following which not too many investment proposals have come the way of the agency meant to promote industry in the state. The WBIDC Employees’ Union has its own room in the office. But it does not have an air-conditioner. WBIDC managing director Subrata Gupta said he had come to know about yesterday’s incident. “I was not there yesterday. I will ask them why they held the meeting there,” he said. The rooms of the chairman — industries minister Nirupam Sen — and MD are in the same row as the boardroom on the first floor of the building in Dalhousie. According to conventions that could be termed archaic in seamless, not to mention classless, organisations, besides Sen, Gupta, the two executive directors and independent directors, no one uses the room. If the union’s objective was to shatter the invisible ceiling, it did so in keeping with the highest traditions of iconoclasm. The union apparently did not seek permission to use the room. Some 15-20 Citu supporters led by one Subrata Sengupta attended the meeting. Sengupta could not be reached for comment today. Ever since investment proposals had ebbed, the boardroom was being regularly used by various panels of the corporation. An executive committee meeting took place on Monday.

http://www.telegraphindia.com/1090827/jsp/bengal/story_11414811.jsp

Maoists slay CPM leader

Midnapore, Aug. 26: Maoists last night slit the throat of a schoolteacher who had earlier been made to hold his ears and promise to dissociate himself from the CPM. At Pirakata, 25km from Lalgarh town, Ratan Mahato, 50, had distanced himself from the party since but not quit. About 20 people surrounded Ratan’s house around 9pm, said neighbour Bharat Mahato. “They had rifles and were kicking the door. Ratan’s wife Sabita opened the door and they stormed in,” said Bharat. Ratan tried to escape through the rear but the attackers caught him, tied him up and took him away. “We saw from behind a bush Ratan was made to kneel. ‘We asked you to quit the party, you didn’t,’ one of them barked. Then they started hitting him,” said Bharat. West Midnapore police chief Manoj Verma said supporters of the People’s Committee Against Police Atrocities were also among the attackers. In July, Ratan, who taught English and Bengali in the local high school, had been forced to do squats holding his ears. “He became aloof from the party after that but did not put up posters declaring his dissociation with it,” an officer said.

SALVAGING THE PROTOCOL - Over climate change, the battle lines are clearly drawn

BHASKAR DUTTA

The red carpet was certainly rolled out for Hillary Clinton during her recent visit to India. She was fêted, wined and dined, so much so that there were some caustic queries about whether we had moved back in time to the colonial era. But one man stood out in the midst of this sycophancy. Jairam Ramesh, the state environment and forests minister, told her very bluntly that “there is simply no case” for the pressure faced by India to reduce carbon emissions since India was amongst the world’s lowest emitters on a per capita basis. Ramesh was, of course, reiterating the official position of China, India and other developing countries on the issue of climate change and how best to coordinate the international community’s response to the increasing levels of carbon emission. Every country recognizes that something needs to be done because there has been a sharp acceleration in aggregate carbon emissions during the last decade — the increase in emissions has been 3 per cent since 2000, compared to just 1.1 per cent during the 1990s. Unfortunately, there is no consensus at all about how to control emission. The battle lines are very clearly drawn between the developed and the developing countries. The former group point out that they are now using both increasingly energy-efficient technology and cleaner sources of energy such as electricity. This has enabled them to effect significant reductions in emission. Some of the greener countries have also set very ambitious goals — for instance, the United Kingdom targeted a 20 per cent reduction of carbon emission from 1990 levels by 2010. Although this target will not be achieved, the mere stipulation of an ambitious target is taken to be a sign of good intentions. The developed countries also contend that emission levels have been rising very sharply in the developing countries. The main ‘culprit’ has been China. The rapid growth of the Chinese economy, combined with its continued dependence on coal-fired power stations (particularly in the interior provinces), has ensured that China has now earned the dubious distinction of being the biggest emitter in the world — it dethroned the United States of America from this position in 2006. Emission levels in India have also been rising, and for pretty much the same reasons. What is more discouraging is that both countries seem likely to continue with their dependence on coal, although this is the dirtiest fuel. Of course, the developing countries are not without their own ammunition. They contend, with more than a little justification, that it is the past actions of the developed countries which have brought about the degradation in the world’s environment. Over three-fourths of the cumulative anthropogenic carbon dioxide has still come from the developed countries. Also, the focus on aggregate emissions by individual countries is clearly not appropriate because it gives a misleading picture. The larger and more densely populated countries are bound to emit more carbon. Perhaps a more accurate picture is provided by comparisons of per capita emission levels. This comparison of per capita emission levels gives a completely different perspective. It turns out that the per capita emission level in China is only a quarter of that in the US. Fortunately, the fight against climate change is not completely lost. Environment ministers and officials of almost 200 countries will meet in Copenhagen in early December in the hope that they can agree on a new treaty to replace the Kyoto protocol, the first phase of which expires in 2012. The main aim of the Copenhagen summit will be to hammer out an agreement on how to share the burden of reducing greenhouse gas emissions. Climate scientists estimate that by 2050, the world must cut emission levels by 80 per cent, compared with 1990 levels, in order to ensure that global warming does not exceed two degrees centigrade. Given the sheer magnitude of this task, it is clear that all the major countries will have to reduce emission levels — there is no way in which the aggregate emission levels can be reduced to required levels unless China, and to a lesser extent India, also cut back on emissions. This is, of course, a very costly exercise — the main reason why we use coal is because alternative sources of energy are several times more expensive. India simply cannot afford to foot the entire bill involved in exploiting, say, solar energy. The huge subsidies involved will essentially imply that the government will have to make drastic cuts in social-welfare spending and other development expenditures. That is why several developing countries have been arguing that the developed countries must subsidize the costs incurred by the developing countries in reducing emissions. One school argues for this on welfare grounds — since all countries will benefit if global emission levels are slashed, it is the richer countries that must pay the bulk of the costs. A more sophisticated argument puts forth the case that the developed countries have essentially ‘outsourced’ carbon emissions to developing countries. That is, the emissions emanating from China are a consequence of the huge quantities of carbon-intensive manufacturing taking place in China for buyers in the West. Western consumers benefit since the goods imported from China and other developing countries are significantly cheaper than what these goods would have cost if they had been produced in the developed world. Why should the entire burden rest on the producers of these goods? Why should consumers not share the burden? There is more than a grain of truth in this argument, though perhaps it ignores the fact that the ‘outsourcing’ of carbon emissions also benefits the developing countries through the creation of more jobs. Some Western economists do acknowledge that the developed world must not only reduce their own emissions, but also provide incentives to the developing countries to cut emissions. Of course, there are also the hawks who rave and rant about the need to impose stiff penalties in the form of trade sanctions against those developing countries which do not cap carbon emissions. What is going to be crucial is the official American position. George W. Bush almost singlehandedly scuttled the Kyoto protocol. Fortunately, there seems to be a sea change in the attitude of the Obama administration. The US seems determined to implement stiff emission targets for the US economy. Perhaps, it can also be persuaded to subsidize the developing countries if they cap emissions. The author is professor of economics, University of Warwick

http://www.telegraphindia.com/1090827/jsp/opinion/story_11410881.jsp

HOME PAGE

IT players eye big bucks from Govt projects Move to help industry beat slowdown in US and Europe, say experts. After a slugfest for business in the US and Europe, Indian IT vendors are now rolling up their sleeves for the next skirmish — in the domestic ... Airport development fee at Delhi, Mumbai legal, says Court New Delhi, Aug. 26 The Delhi High Court has held that the Airport Development Fee (ADF) being charged at Delhi and Mumbai airports is ...

Tapping a new source: The...	TODAY'S PICK (Latest Audio: English/Tamil) Alok Industries (Rs 21.8): Buy Investors with a short-term perspective can buy Alok Industries. The stock underwent a steep correction in June and July when it plunged from Rs 29 to Rs 15. Things are looking up since then and the stock is in a short-term uptrend since July ...

---

Alstom plans metro rail coach facility in Sri City
Andhra
Pradesh CM to announce details on Sept 9. Chennai, Aug. 26 French
transportation major Alstom is planning to set up a metro rail coach
factory near ...

Air India chief warns of lay-offs, if crisis continues
Mumbai,
Aug. 26 The Chairman and Managing Director of Air India, Mr Arvind
Jadhav, for the first time, warned employees of “lay-offs and
retrenchment” if the crisis at the ...

Core sector growth dips to 1.8% in July
Drop
in output of crude, refined petro-products weighs down index. New
Delhi, Aug. 26 After logging a healthy 6.8 per cent growth in the
previous month, the official index of six core infrastructure
industries registered a tepid year-on-year ...

TCS, Infosys, Wipro win a slice of BP outsourcing deal
For
application development and maintenance services. Bangalore, Aug. 26 In
one of the largest deals of recent times, the top-three Indian vendors
TCS, Infosys and Wipro along with global giants IBM Corp and Accenture
have bagged a slice of the ...

Mills in North contract raw sugar for imports at $520/t
Demand
may fall after Nov; price flare-up unlikely for now. New Delhi, Aug. 26
Indian mills, primarily those in the North, are said to have contracted
4-5 lakh tonnes (lt) of imported raw sugar within the last couple of
weeks at prices ranging ...

Wholesale prices fall 0.95%; food still costly
Index
of all commodities rises to 238.8 points. New Delhi, Aug. 26 The annual
Wholesale Price Index-based inflation fell 0.95 per cent during the
week ended August 15 compared with the 1.53 per cent slide recorded in
the previous week, the ...

10.74 lakh retail applicants get NHPC shares
30%
of unsubscribed employees’ quota allotted to retail. Of the 13.02 lakh
retail applicants who had applied for the big ticket Rs 6,000-crore
NHPC (National Hydroelectric Power Corporation) public issue of 168
crore shares, 10.74 lakh ...

Relief measures likely for exporters in Foreign Trade Policy
New
Delhi, Aug. 26 Even as the Commerce Ministry is set to unveil its
medium-term Foreign Trade Policy (FTP) for 2009-14 here on Thursday in
the face of gloomy global trade situation, the policy would have more
to do with overcoming ...

M.P., Rajasthan, Gujarat likely to get more rains
A
western disturbance was located over Jammu and Kashmir on Wednesday, an
update from the National Centre for Medium Range Weather ...


INDUSTRY & ECONOMY



ECONOMY:
Core sector growth dips to 1.8% in July

Drop in output of crude, refined petro-products weighs down index. New
Delhi, Aug. 26 After logging a healthy 6.8 per cent growth in the
previous month, the official index of six core infrastructure
industries registered a tepid year-on-year ...




REAL ESTATE & CONSTRUCTION:
Building on cricket
Karnataka
comes up with its own KPL tournament, and realtors have bagged most of
the teams.. Bijapur Bulls vs Bangalore Urban. Davangere Diamonds take
on Belgaum Panthers. Stumped? Well, for the uninitiated, these are
teams from ...




HCV/LCV/TRACTORS:
Tractor makers confident of growth despite drought
See
increased activity in non-farm applications. The Indian tractor
industry expects to register marginal growth this fiscal despite the
second half being impacted by the drought and its impact on the
agricultural sector. This optimism stems ...




STANDARDS & BENCHMARKS:
Bharat Stage-IV norms to be operational from April 1
Hyderabad,
Aug. 26 All automotive manufacturers will have to conform to Bharat
Stage-IV norms beginning April 1, 2010 for vehicles sold in all the
four metros plus Hyderabad and eight other select cities in the ...




EXPORTS & IMPORTS:
Relief measures likely for exporters in Foreign Trade Policy
New
Delhi, Aug. 26 Even as the Commerce Ministry is set to unveil its
medium-term Foreign Trade Policy (FTP) for 2009-14 here on Thursday in
the face of gloomy global trade situation, the policy would have more
to do with overcoming ...




EVENTS:
Diabetes public awareness expo
A
mega diabetes public awareness programme called ‘Diabetes 2009’ is
being organised here during December 18-20 by the Dr Mohan’s Diabetes
Specialities Centre. Dr V. Mohan, Chairman and Chief Diabetologist at
the centre, said ...




TAXATION:
AP to offer VAT rebate for new industries
The
State Investment promotion Board (SIB) today decided to offer 50 per
cent reimbursement of value added tax (VAT) for five years for new
projects, in addition to the incentives available as per the State
Industrial Investment ...




NON-CONVENTIONAL ENERGY:
More people turn to the sun for energy needs
Waste-energy
recycling also gaining ground. Washington, Aug. 26 For a world
grappling with concerns over climate change and rising carbon
footprint, the sun is increasingly providing some solace and clean ...




NATURAL CALAMITIES:
Crisis management plan on anvil: Kerala Minister
Draft
to be put on public domain. Thiruvananthapuram, Aug. 26 The State
Government is drawing up a crisis management plan to prepare itself to
handle the impact of disasters, both natural ...




REAL ESTATE & CONSTRUCTION:
Aurigo Software offers construction tool to Karnataka
Bangalore,
Aug. 26 Microsoft certified partner Aurigo Software Technologies, which
offers solutions to the construction industry, is talking to the
Karnataka Government for deploying its software which claims to offer
real-time site ...




ECONOMIC OFFENCES:
High-level corruption should be pursued aggressively, says PM
New
Delhi, Aug. 26 The Prime Minister, Dr Manmohan Singh, on Wednesday
asked the anti-corruption agencies to go after the “big fish” and not
just focus on ...




ENVIRONMENT:
Green ride

...




COURTS/LEGAL ISSUES:
First of its kind

...




TOURISM:
Small is successful

...




FOREIGN TRADE:
‘India share in global trade to go up to 3%’
Kolkata,
Aug. 26 India will try to step up its share in global trade from the
current 1.5 per cent to three per cent by 2015, according to Mr Subodh
Kant Sahai, Union Minister for Food ...




PHARMACEUTICALS:
Cipla urges Govt to allow retail sale of anti-flu drugs
Mumbai,
Aug 26 “We are adults and should be treated as adults,” says Cipla
Chairman and Managing Director, Dr Y. K. Hamied, responding to queries
on the Centre’s decision to not allow retail sales of anti-flu drugs
...




STANDARDS & BENCHMARKS:
Platts launches oil price benchmarks for Indian products
New
Delhi, Aug. 26 Platts, a global energy and metals information provider
and a division of The McGraw-Hill Companies, has introduced a series of
oil price benchmarks for the Indian oil ...




SCIENCE & TECHNOLOGY:
PM inaugurates IIST campus
Hosted
on a tele-link from New Delhi, the Prime Minister, Dr Manmohan Singh,
inaugurated the new campus of the Indian Institute of Space Science and
Technology (IIST) at Valiamala near here on Tuesday ...




BIO-TECH & GENETICS:
TN to encourage bio-tech units
Chennai,Aug.
26 TICEL Bio Park started work on the Rs 120-crore second phase
expansion of the biotechnology laboratory infrastructure facility ...




POWER:
Govt signs pact with World Bank for three projects
New
Delhi, Aug. 26 The Government has signed agreements with World Bank for
three projects here on Wednesday. The three projects are ‘Chiller
energy efficiency project’, ‘National agricultural innovation project
...




NEWSPAPERS & PUBLISHING:
EKL to bring out 50th issue
Executive
Knowledge Lines (EKL), a monthly publishing initiative from a group of
professionals, is bringing out its 50th issue at a function here to be
held on Thursday. Dr G. Madhavan Nair, Chairman, ISRO, will launch the
issue in the presence ...




HEALTH:
CII campaign on swine flu
CII,
Eastern Region, is organising awareness programmes on swine flu for
corporates and institutions. The initiative started here on Wednesday
with an interactive session at Apeejay School and more than 200
students and teachers of the ...

Related Topics


Anti-dumping

Automobile Components

Bio-tech & Genetics

Books

Breweries

Budget

Cars

Cement

Climate & Weather

Coal

Consumer Electronics

Courts/Legal Issues

Disinvestment

Economic Offences

Economy

Education

Electrical Goods

Electronics

Employment

Engineering

Entrepreneurship

Environment

Excise and Customs

Exports & Imports

Fertilisers

Foods & Food Processing

Foreign Direct Investment

Foreign Trade

Gems & Jewellery

Gold & Silver

Granite & Marble

Handloom

Health

Hotels

Human Resources

Income Tax

Industrial Policy

Industry Associations

Infrastructure

Knitwear & Hosiery

Labour Reforms

Leather

Medical & Surgical Equipments

Medical Institutions & Hospitals

Minerals

Newspapers & Publishing

Non-conventional Energy

NRIs

Paper, Board & Newsprint

Personal Products

Petroleum

Pharmaceuticals

Power

PSU

Radio/TV

Railway Budget

Readymade Garments

Real Estate & Construction

Rural Development

Science & Technology

Social Security

Social Welfare

SSI

Standards & Benchmarks

Steel

Sugar

Taxation

Textile Machinery

Textiles

Tourism

Trade & Labour Unions

Two/Three Wheelers

Tyres

Urban Development

Venture Capital

Water

WTO

---

In Focus

Nano - The People's Car


Mandate 2009


Who is hiring?


More


Other Top Stories


GoM meet on 3G to study concerns of Dept of Space, industry

---

Tractor makers confident of growth despite drought

---

PSU insurers sign pact with Ministry on targets

---

The downside to curbing ‘speculative demand’

---

‘India share in global trade to go up to 3%’

---

Cipla urges Govt to allow retail sale of anti-flu drugs

---

More people turn to the sun for energy needs

---

Nasscom lowers forecast for animation industry
http://www.thehindubusinessline.com/2009/08/27/03hdline.htm

Market NSE|BSE SENSEX 15820.28 50.43 NIFTY 4697.75 16.90 NASDAQ 2024.43 0.20 DJIA 9543.52 4.23 RS/$ 48.83 -0.04     Adv. Search More IndicesNew|Mkt Stats|Market Live Forex Converter Convert Rs.ToUS Dollar CAN Dollar Chinese Yuan Euro HK Dollar Indonesian Rupiah Japanese Yen Korean Won Kuwaiti Dinar Malaysian Ringgit Russian Rouble Sing Dollar Swiss Franc UAE Dirham UK Pound  Stocks in News Petronet LNG likely to launch FPO Jewellery stocks up on tax refund scheme Wipro, TCS, Infosys up on deal news BGR Energy extends gains United Spirits opens 5 pc down on BSE More >> Videos More Videos >> PM on corruption   Maruti rolls out new Estilo   Rakhi, a hot brand! Delhi Airport roof leaks again. Rs 5K cr terminal's second leak in a month. Day in Pics | More Pics | Photogallery CEOtoons | Aug 26 | Fighting H1N1 NRI Solutions New Money Transfers  Property  Health Care  Stocks Visited Watchlist Portfolio This space will display the stocks you last tracked and searched on the site. It will keep you updated on stocks you are interested in currently. ET Cetera Tata wins case against portal 'MakeMyTrip' Obama pained at Edward Kennedy's death Big Brother 'too boring', to be scrapped Foreign artists eye share of Indian art mkt More >> Interviews S B Mathur, Secretary General, Life Insurance Council More >> Jobs/careers Car makers hit hiring lane Domestic automakers are once again in hiring gear to accelerate production. H-1B visa abuse? PE firms cut salary hikes, bonuses Satyam BPO to hire 300 employees More >> ET Slide Shows Prepare for the TDS nightmare The luxury of TDS exemption may not live long. All you want to know about gas row How is Reliance Industries involved in the KG basin? Down payment for a home loan A down payment underlines the buyer's commitment to complete the deal. Part prepayment helps reduce loan cost It makes financial sense to pay off a part of your loan every time you find extra money. More >> Environment July 2009 hottest for oceans Flood in Kaziranga 66 tigers dead in 8 months MP: 5 held for eating black buck meat Elephant tusks hidden under snail shells More >>	ET Headline US fund houses launch 5 India-specific ETFs 27 Aug 2009, 1238 hrs IST, DEEPTHA RAJKUMAR,ET Bureau US fund houses have launched five India-specific ETFs to tap India's growth potential. Gainers: BSE ( A, B ), NSE | Losers: BSE ( A, B ), NSE | Views & Recommendations Market Watch: Sensex moves higher; pharma, IT lead Where is the market headed in short-term? Trade Policy: Govt eyes $200 bn export; doles out sops          Economy, Markets, Finance 1127 hrs IST Govt initiates process to notify CCI's M&A provisions 0932 hrs IST Get cheaper gold coins from next-door jewellery shop 0311 hrs IST Rising rand may see Bharti pay more cash 0253 hrs IST Open offers to spice up Great Offshore bid 0257 hrs IST Analjit Singh checks into hospitality with EIH 0037 hrs IST Corporate borrowing from banks continues to remain sluggish 0229 hrs IST AB InBev may seal licensing deal with Wadhawan group 0100 hrs IST Why can't we buy basmati for Rs 40/kg? 0107 hrs IST Reappointment of Bernanke: A politically correct decision 0145 hrs IST Mallya blinks, liquor boycott off 0022 hrs IST Food cos draw up plans to get over sugar stock ban 0016 hrs IST NEA, Jacob Ballas PE set to acquire Carlyle's 34% in FSS 0051 hrs IST Revisit strategies to address under-nutrition 0018 hrs IST Strong relief winds to blow exporters away from FTP 0048 hrs IST Govt mulls centralised drug buys to make procurement transparent 0144 hrs IST Flu side-effects: Health insurers eye claim surge 0225 hrs IST HUL trims ad agency margins 2230 hrs IST Indian Institute of Science is India's No. 1 tech institute 0944 hrs IST Realty bosses took 10 times pay hike as sales, profits plunged 0226 hrs IST TOI Group wins Advertiser of the Year award at Spikes Asia '09 ET Portfolio Wizard:Track and juggle your investments and watch your money grow. New Tax Code: Prepare for the TDS nightmare 27 Aug 2009, 1220 hrs IST, MUKESH PATEL,TNN The respite from TDS bite for small interest earners by submitting simple declarations will be a thing of the past under the new tax code. Tax code: Not Bharat friendly Five things to know before investing Switzerland has world's best wages; Mumbai has lowest 27 Aug 2009, 1308 hrs IST, REUTERS Employees in Zurich and Geneva have the highest net wages, a UBS study shows, while those in Mumbai have lowest. Delhi, Mumbai among least expensive cities Carmakers eye festive demand, hit hiring lane All headlines >>News on your MobileLog on to m.economictimes.com Blogs: Gold at $1000: No prizes for guessing right|Fairer sex: Please save the (Financial) World! Check out the best on Dalal Street Stocks that yielded 400% return Bull phase, in mkts, propelled stock prices of some cos by over 400% in just one year. IT sector can beat the monsoon blues IT stocks top returns on Dalal St | Top Health care stocks Ten hot money-spinners in India | Top ten cement stocks More >> News by Industry Zydus Cadila group eyes acquisitions BPCL to begin operations at new plant RIL wins city-gas rights for 3 cities IVRCL Infra gets Rs 583 cr order Sectors: InfoTech| Telecom | Auto | Transport | Energy| Jobs | More >>   Personal Finance Prepare for the TDS nightmare ICICI launches new home loan offers MetLife launches monthly income plan Financial aids and foreign degree Look before opting for home loan More >> Markets News Re trading flat at 48.90 against $ European shares up 'RBI may buy 2016 bonds at 7.15 pc' Gold futures steady on weak Re, crude Nikkei slips 1.6 pc on China, yen   Economy July industrial output growth slips India, China to scan unorganised Ind Cos raise $2 bn from overseas in July Free power costs TN Rs 1,140 cr loss April-July spices exports drop 14 pc More >> More >> Infotech Mona Lisa is back in tech art exhibit Nokia plans to launch mobile 'banking' Apple's touchscreen tablet device Google to compete on loan referrals? Twitter? That's so, like, for adults   International Business Crisis: US workers stuck in bad jobs China to unveil jet engine in 2016 'Russian IT mkt up by 1-1/2 times' Chrysler sues Daimler AG China looks to control overcapacity More >> More >> Market Analysis Stocks Mutual Funds Bullion Real Estate Blogs Where is the market headed in short-term? Fund raising via ADRs may soon get easier Domestic private placement of equity shows revival signs IT stocks top returns chart on Dalal Street Some long-term investors still give demat a miss More >> NEA, Jacob Ballas PE set to acquire Carlyle's 34% in FSS Rally in secondline cos revives sentiment Citigroup maintains 'Buy' rating on Maruti Suzuki JP Morgan maintains 'Neutral' rating on MTNL India Infoline maintains 'Reduce' rating on Sun Pharma More >> Gold ETFs emerge as best performers Reliance Mutual Fund declares dividend for 3 schemes Reliance MF most successful fund house: Crisil FundServices Now, mutual funds switching to sell-mode MFs just got poorer by Rs 7,000 crore More >> Drought impact: Gold buying may slump in rural markets To see cheaper side of gold coins, visit next-door jewellery shop When will gold touch $1000/oz? No prizes for guessing right Gold prices decline on lower global cues Fall in gold prices may increase demand More >> Real estate honchos get hefty pay hikes Commercial real estate rentals seem to be bottoming out Haryana changes building norms to make room for cheaper homes TDI lines up Rs 1,000 cr for budget homes NCR brokers do a realty 'check' again More >> Why can’t we buy basmati for Rs 40/kg? - Nidhi Nath Srinivas Bernanke, I'll be watching you (on YouTube) - Abhi 2.0 Politics of the new tax code - M K Venu Gold at $1000: No prizes for guessing right - Nidhi Nath Srinivas Fairer sex: Please save the (Financial) World! - Ritu Jain Gainers Losers Mutual Funds NSE: ALL BSE: ALL      Group A     B   By Industry By Index Cool Tools Auto BSE Sensex Volume Gainers NSE Banks NSE Nifty 52 Week High Construction BSE Mid cap Only Buyers Information Tech. NSE 500 Surging Volumes Iron & Steel BSE Capital Goods FII Investment Petroleum BSE PSU MF Investment Telecom BSE Realty Market Cap Gainers Politics / Nation Judges to declare assets welcomed Parties welcomed decision by SC judges to make public their assets. BJP 2009 looks more like Cong 1996 Rajnath faces rebellion from Raje & Khanduri, after Shourie’s outburst. Islamabad wants more proof Islamabad has asked for more proof on the Mumbai terror attacks.   Opinion TK Arun: BJP and the art of dying alive Dying alive is the only way to die, you can’t die when already dead. Holistic policy regime required Water woes: We need proactive policy that is holistic. Tomorrow's khaas aadmi There are some big ticket reforms, which is also vital for growth. More >> More >> Investor's Guide Brand Equity Corporate Dossier ET Realty ET Travel Direct Tax Code fails to bring an equitable tax system The latest Direct Tax Code is an aggressive attempt to have an equitable tax system, but it ends up being regressive, and violates the principle of vertical equity. IT can beat the monsoon blues Lowly Indian Hotels a good choice Stocks to pick: Jet Airways, Sun Pharma, MTNL, Maruti Suzuki More >> Recession blues haven't affected high-end shoppers much In a recent study by the New York based Luxury Institute, 62% of wealthy consumers reported that the state of the economy has changed their views on luxury purchases. Madison Avenue: The centre of advertising world EMVIES brings out best and loudest in Media Politicians never grip about spiralling costs of media More >> Business families using global best practices to plan succession Family Business Boards, Family Council Meetings, Deadlock Trustees - business families of India Inc are using global best practices to plan succession. Guidelines to crack the B2B market in China Book Review- In Fed We Trust: Ben Bernanke’s War on the Great Panic A lowdown on the next generation of desktop computers More >> Emerging residential destinations to get high-speed road corridors Emerging residential destinations in the farflung areas like Dharuhera, Bhiwadi, and Faridabad are set to get high-speed road corridors, which will reduce travel time to Delhi drastically. Property demand revives Other factors that brings property down Master plan gives new life to Gurgaon More >> Ladakh: Land of serene Buddhist legacies and pristine lakes Ladakh silently resounds with the valour of our Kargil heroes even as ET explores its serene Buddhist legacies, spectacular lunar vistas and pristine lakes. Bavarian exquisite retreats and romantic hideaways Centuries stand still in Bruges in the midst of bustling Belgium Helsinki's Katajanokka: Stay in former jail now a four starred hotel More >>	Latest News Most Read Most Emailed Most Commented In Pics: Wildfire in California (1257hrs) Wipro wins Fosters' contract (1248hrs) Top 10 'risky' US celebrities to search in cyberspace (1244hrs) Take a look at world's top 10 airports (0958hrs) More >> Blog: Private Social Capital: Unbeatable Returns|Government may sell foodgrains in open market |Noble Group exits edible oils|Chipping Potatoes|The Budget has compounded them Email New User?  Register User ID : Indiatimesitimes Password : Forgot Password? Remember me Email New User?  Register User ID : Indiatimesitimes Password : Forgot Password? Remember me Poll Have interest rates bottomed out? Yes No Can't say Previous Polls >> Commodities Planters wary over labour shortage Acute labour shortage, increasing social cost have dampened the spirits of the planters. Paddy farmers in for a special bonus M'shtra reels under acute milk shortage Govt may announce bonus for paddy More >> ईटी हिन्दी ઇટી ગુજરાતી फॉरेन एजुकेशन अब आसान बैंक लोन और स्कॉलरशिप से हो रहे हैं सपने साकार... 10,000 से सस्ते Nokia टचस्क्रीन! सेबी की नजर 'झटपट' योजनाओं पर और >> Smart Living ePaper: Print Edition Get the replica of your favourite edition of Economic Times Feel at home.. View ePaper Shop TimesContent.com Buy Content Syndication rights from The Times Group images, articles and microfilm. Travel : Flights Delhi to Pune Re 1 Mumbai to Cochin Re 1 Chennai to Mumbai Rs 9 More >> Mobile 58888 Movie gupshup Send Voice greetings More >> Ad Links Get exclusive Cricket games NOW No minimum balance NRI account Guaranteed Mastercard® NRI! Easy money transfer! Zigwheels New Harley Davidson in India tomorrow The model-range and its pricing are still under wraps as the product is yet to be launched Toyota Fortuner Vs Rivals Grande Punto Honda jazz|Car review|Buy Car