Trapped in Melt Down Under Deep Troubled Waters: Buy Now Pay Later, the Swapping Exposure, Resilience Claim, RBI, FINMIN and India Firing on All Cylin

Trapped in Melt Down Under Deep Troubled Waters: Buy Now Pay Later, the Swapping Exposure, Resilience Claim, RBI, FINMIN and India Firing on All Cylinders! Tata Motors, Tata AIG, Foreign Investing Institutions Ruling Real Estate, Banking and Insurance

Troubled Galaxy Destroyed Dreams: Chapter 67

Palash Biswas
http://troubledgalaxydetroyeddreams.blogspot.com/

News results for Mamata
Sify Mamata threatens to restart stir - 31 minutes ago

Kolkata, September 16 At the Trinamool Congress rally on Tuesday in Singur, party chief Mamata Banerjee hinted that she might again start a dharna after ...

Indian Express - 257 related articles »
Mamata all set to renew attacks at Singur rally - Expressindia.com - 466 related articles »
Now, Writers’ Buildings in line of Mamata’s fire - Expressindia.com - 2 related articles »


Market
NSE|BSE



SENSEX 13315.60 52.70
NIFTY 4038.15 29.90
DJIA 10609.66 -449.36
NASDAQ 2098.85 -109.05
RS/$ 46.34 0.29

News results for RBI
Sify RBI steps in to increase liquidity - 21 hours ago

The RBI has announced measures that will allow banks to pledge one per cent of their net time and demand liabilities (deposits) additionally with the RBI ...

Hindu Business Line - 162 related articles »
Sort out deals with Lehman, RBI tells banks - Economic Times - 36 related articles »
RBI moves in to ease pressure on markets - Hindu Business Line - 10 related articles »


Indian Industry Seeks Higher Foreign Investment Cap
DefenseNews.com (subscription) - 16 Sep 2008
By vivek raghuvanshi NEW DELHI - India's private sector defense industry has urged the government to raise the cap on Foreign Direct Investment (FDI) in the ...

Barclays Reaches $1.75 Billion Deal for a Lehman Unit
By BEN WHITE and ERIC DASH
The accord could save 8,000 to 10,000 Lehman jobs and allow Robert E. Diamond Jr., the president of Barclays, to attain his longtime goal of expanding his bank’s reach in the United States.
http://topics.nytimes.com/top/news/business/companies/lehman_brothers_holdings_inc/index.html?excamp=GGBUlehman&WT.srch=1&WT.mc_ev=click&WT.mc_id=BI-S-E-GG-NA-CT-lehman

Cos hit all time low, realty index sinks over 26 %
18 Sep, 2008, 2052 hrs IST, Pradeep Pandey

Real estate companies were hammered badly on weak global cues and the realty index has tumbled 26% in the last eight straight days, eroding Rs 3 lakh crore investors wealth.

Wall St rises as on liquidity boost, deal talk
18 Sep, 2008, 1909 hrs IST,

US stocks opened higher on Thursday, helped by a coordinated push by the world's leading central banks to pump billion of dollars into global financial markets to thaw the credit freeze.


US stocks opened higher on Thursday, helped by a coordinated push by the world's leading central banks to pump billion of dollars into global financial markets to thaw the credit freeze.

Even so, investors were likely to tread cautiously amid talks of possible mergers and while the financial sector looks for ways to stabilize after the demise of Lehman Brothers and bailout of American International Group.

The Dow Jones industrial average was up 142.08 points, or 1.34 per cent, at 10,751.74. The Standard & Poor's 500 Index was up 17.43 points, or 1.51 per cent, at 1,173.82. The Nasdaq Composite Index was up 45.69 points, or 2.18 per cent, at 2,144.54.
Buy Now Pay Later!

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Singapore: Hundreds of nervous customers gathered outside the American Assurance (AIA) building to withdraw their current policies in Singapore despite the central Bank there assured that the Singapore unit of AIG has sufficient Assets to meet its liabilities. We hear the Echoes in New Delhi. And Lo, how the offices of TATA AIG and ICICI and BPOs drive their nonsalaried agents to hunt the clients more and more , even inthis global environment of Discredit. GOI helps the cruelty be executed!

LONDON: This is a bad time to be a purveyor of thousand-dollar pens. Or a seller of champagne, sports cars or big bouquets of flowers.

Few people feel like splashing out in the City, London's financial district, which is convulsing from the aftershocks of Wall Street's financial crisis. Thousands of jobs have already been lost, financial institutions have disappeared overnight, rumors swirl _ and no one knows where it will end.

After years of economic boom in which City workers became famous for six-figure bonuses, lavish lunches and champagne-fueled parties, the mood has turned somber.


SHANGHAI: Chinese share prices closed 1.72 per cent lower on Thursday on a rollercoaster day where the turmoil in global markets sent banks and insurers plunging before speculators swooped in, dealers said.

TOKYO: The Nikkei average slid 2.2 per cent to a three-year closing low on Thursday, dragged down by financial shares on renewed credit fears, as major US banks scrambled for merger partners.

The benchmark Nikkei average shed 260.49 points to end at 11,489.30, its lowest close since June 2005. The broader Topix lost 2.1 per cent to 1,097.68

The Economic Times reports:
Indian non-life insurance companies are anxiously waiting to see the impact of AIG’s troubles on the ratings of its reinsurance arm. Any downgrade of the parent would have a ripple effect on its arm. If the reinsuring arm’s rating falls below the BBB prescribed by IRDA, local insurers will have to look for a new reinsurer.

As a reinsurance group, AIG provides significant reinsurance capacity for the Indian market. It is a lead reinsurer for Air India and also provides large coverage to big energy reinsurance programmes. Besides, it is a large aviation reinsurer and market leader in providing cover for directors & officers’ covers.

Worldwide, the AIG group provides reinsurance support through different entities, for instance, New Hampshire provides reinsurance for energy risks, while aviation cover is usually done through AIG UK. AIG has issued a statement that its direct and reinsurance arms are separate entities. But insurers are not fully comfortable.

http://economictimes.indiatimes.com/Personal_Finance/Insurance/Insurance_news/AIGs_rating_woes_to_shake_up_Indian_reinsurance_market/articleshow/3491707.cms


And see how the Emerging Hindu Super Power works!

More than 2 lakh Indians in France will be eligible to avail social security benefits under an agreement that India and France will sign during Prime Minister Manmohan Singh's visit to Paris later this month.The civil nuclear cooperation agreement between India and France, which is ready for signing, does not cover sale of enrichment and reprocessing technologies, French Ambassador Jerome Bonnafont has said in New Delhi.

Indian PM Manmohan Singh has said his government is considering legislation to strengthen laws to combat attacks by militant groups.Under scathing attacks from all quarters for its 'inept' handling of the internal security situation, the Centre announced a slew of measures to beef up the security apparatus in the country.
Pakistan's President Asif Ali Zardari is expected to meet Indian Prime Minister Manmohan Singh in New York this month, a cabinet minister said on Thursday, for their first talks since Zardari became president.


What legacy we leave for the Children of Future?

What World remains after us for Generation Next?

The best of our children, the young talents who score more than Nineties on every level of schooling , in various exams, who may speak English with Pure American Accent and know well JAVA, HTML, Tally, Animation, Networking and so on.. have been dumped in either Outsourcing or Insourcing!

IIM students countrywide seem to be stunned as Lehman effect envelops them as preempted Jet lag! Time and Money investment seems to be just a stake in a wild Casino as we may not help much our children lost in NRI dreams and Virtual reality.

Life is not just a Kick in smooth Drug drain! Neither it is a Rash Drive on Super Highway! It is not Video game either!

What the Nation affords for our children of Nuclear Families? We learnt to be alone long before the Realty Reality show Big Boss!

We dreamt to be happy at least and terror strikes blats the peace anytime anywhere!

But the terror of Global Economy is greater!

Greater is the Terror of Displacement! The terror of indiscriminate land Acquisition! The terror of losing livelihood and life. The terror of being wiped out, thrown out of geopolitics losing identities and nationalities!

Indian Nation has not a network to recruit best of our talents, professionals!

Globalisation introduced VRS, ERS, Disinvestment, SEZ and Retail Chain!

You may get without any security! It is HIRE and FIRE!

Only jobs are available in marketing and sales, agency and security, BPOs and call centres, retail chains and security set up. Just walk in!Just walk out! ANY TIME.ANY DAY!Have Plastic Money and enjoy yourself for the time being. Never think !Never react!

It is a SPINELESS GENERATION FULLY SUBMISSIVE, INDULGED IN XXX OR XX XXX VISUALS, TECHNOLOGIES, SEMI LITERATE OR ILLITERATE, DEPRIVED OF HIGHER EDUCATION AND RESEARCH OPPORTUNITIES!


Hundred channels and hundred avenues lead to nowhere.All ways prove to be pseudo Avenues, pseudo superhighway. Drug Addiction relieve the submissive, subordinate, alienated children!

Formally dressed and speaking English fluently, they become slave technocrat mindless limited in some commands, working without timeline, working conditions round the clock!

FIMIN may not know how the Foreign Banks, Insurance companies, Realty Giants and IT sector treat our Children, the best of them! It is Exploitation of every kind. It is Torture unlimited. It is pressure of target every time. Boss is always right. Whatever kind of a BASTARD he might turn out to be!


Which is more Dangerous?

The Big Bang Experiment or the US War Economy Supreme Tagged Global Economy?

Their own bloody Indices tell the Truth of Wellness based on growth of consumer Culture, public issues, capital goods and De industrialisation killing Indigenous Production syatems and Indigenous communities worldwide!

Not only the Poor lot of helpless Bidarbha Peasantry opts for suicide, it is apparent that, sometimes, a ruling hegemony as supreme as United Sates of America also climaxes in HARAKIRI.

The Death Knell sounds in the Blue Sky and Deep Sea.

But we, the Consumers of Third World, have lost our Vision and we may not hear any sound rather than that of Sound entertainment. The society is fastly transforming itself as an closed enclosure like Big Boss Home, Sexy, Sensational, Plotting, Egoist, Exposing, Flirting and Swapping!

World BANK gang ruling India claims resilience quoting PSU Banks and RBI regulations! Really recovered from the stunning Shock? Is it?

What about the Foreign Investment Institutions Ruling the Resurgent Realty Estate, Banking, BPO, Retail, Insurance and even the Chemical, Medicine and Agro sectors? There are apprehensions that the foreign institutional investors rule the SENESEX and thus, very simply, SENSEX replicates DOW ditto! FIIs have to pump in more than Ten Thousand corore for Realty Projects in India and it may just dry out in the light of Lehman Collapse, Merril Lynch take over and AIG bailout!

Tata AIG Life may need Two Fifty Corore Life line!

NANO Dream is the latest Salvation for Believer Indians and the Post Modern Religion is Globalisation of inherent Injustice, inequality, enslavement, persecution, repression and annihilation!

Swaping Exposures have so many interlinked dimensions that either the Indian FINMIN nor the RBI may consolidate the claims of Resilience as Indian Economy as well as the Mother Economy Of Mass Destruction in USA are Trapped in deep, so deep Troubled waters!

Since Nineties, it is the first rare opportunity while the Economist Jugglers like Dr Amartay Sen and the Globalisation Gangsters of Third world Comrador rulers stand united Bankrupt as much as Collapsed Lehman, Lynched Merril and bailed out AIG! It is first time that the striptease is open air and we the Indigenous People may have a taste of the Sexy Nudity Culture of Neo Liberal Gloabl Economy!

A life insurance venture between India's Tata Group and American International Group said it is well capitalised and does not expect any material impact from the turmoil in global financial markets. On the other hand, another BJP ruled state after Uttarakhand, it is Karnataka which on Thursday offered 1000 acres and all incentives that Tata Motors needs for relocating its Nano car plant to the state from West Bengal, where the company is struggling to hold on to the land allocated to it. THe Fire Brand Land Movement leader from West Bengal, MS Mamata Bannerjee happened to be a close most ally of BJP led NDA!

The West Bengal CPI (M) on Thursday declined to comment on Karnataka's offer of 1,000 acres to the Tata Motors Nano car project, with party General Secretary Prakash Karat saying the state government has been making all efforts to resolve the Singur deadlock.

"The state government is doing everything to settle the issue. We will discuss on Friday what to do next," Karat, who discussed the issue with the party's leaders at the state party headquarters here, told reporters.

The party state secretariat would meet on Friday where the Singur stalemate might figure in discussions in presence of Chief Minister Buddhadeb Bhattacherjee and other party leaders including Left Front chairman Biman Bose.

Karat did not comment when asked what line of action would be taken by the government in view of the uncertainty over the Tata Motors project with the government and Opposition locking horns over the land issue.

He also declined comment when asked how long Tata Motors would continue with the supension of work at Singur.

Accompanied by Bose, Karat also met ailing veteran Marxist leader Jyoti Basu at his residence at Salt Lake before leaving for Delhi.

On the Karnataka offer to Tata Motors of 1,000 acres in case the company decided to relocate its Nano car project, Bose said, "I have only heard from you. Let me know for myself the matter in detail, only then will I comment. Let me see what kind of offer it is. Earlier, too, some states have made such offers to the Tatas."




US authorities this week extended an emergency $85 billion lifeline to shore up troubled AIG.

"Our local solvency margin as at the end of August 2008 stood at over 300 per cent compared to the regulatory minimum of 150 per cent," Tata AIG Life said in a statement on Thursday.

The solvency margin is the extent to which an insurance company's assets exceed its liabilities. Indian regulations require a solvency margin of 150 per cent.

AIG is the minority partner with the Tata Group in two ventures, holding 26 per cent each in Tata AIG Life Insurance Co Ltd and Tata AIG General Insurance Co Ltd.

Separately, AIG said its general insurance business and an asset management company were also well capitalised, and its consumer finance and captive software operations were operating in "their normal course".


NEW YORK:The hope that the $85 billion bailout of American Insurance Group (AIG) would help stabilise the US markets were belied as the investors continued to flee the Wall Street, sending the blue chip Dow Jones Industrial average to its lowest level in almost three years.

The Dow yesterday fell by 449.36 points to 10,609.66 after a 500-point decline on Monday. It has lost 800 points or 7.1 per cent of the value this week alone and even after the markets closed, fears of other major financial institutions failing continued to dog the investors.

The Standard and Poor's 500 stock index was down by 4.7 per cent to 1156.39 and technology stock heavy Nasdaq fell 4.9 per cent to 2098.85. For Standard and Poor's, it was lowest level since May 2005 and for Nasdaq since August 2006.

Among other factors, the fears were fed by media reports late in the evening that Morgan Stanley had entered into merger talks with Wachovia and other banks as its share declined for seventh straight day, losing 24 per cent at $21.75 yesterday, the lowest level since 1998.

Goldman Sachs, the largest investment bank by market value, also saw its share decline sharply by 14 per cent to $114.50 and analysts said the question being asked is which institution would go down next.

As turmoil in financial markets continued, investors sought safe haven in gold, a traditional refuge during troubled time, sending its price up by $70 an ounce and government notes even though the yield was negligible.

The crisis, which began 13 months ago, is now taking increasing toll and the last two weeks have seen government taking over quasi-public mortgage firms Fannie Mae and Freddie Mae, bankruptcy of Lehman Brothers, sale of Merrill Lynch and costly rescue of AIG.


Public sector banks have no exposure to Lehman Bros: FM
Published on Thu, Sep 18, 2008 at 13:24 , Updated at Thu, Sep 18, 2008 at 21:03

Source : CNBC-TV18



Finance Minister P Chidambaram said public sector banks have virtually no exposure to Lehman Brothers. "There is no cause for alarm that any Indian bank is vulnerable."

According to him, the credit crunch globally will impact credit availability in the Indian market.

He maintains that FY09 economic growth will remain close to 8%.

Here is a verbatim transcript of Finance Minister P Chidambaram speech. Also see the accompanying video.



On the global situation:

Our banking system is reasonably insulated from what is happening in the rest of the world. However, if there is a credit crunch in the rest of the world, it will to some extent impact credit available in the Indian market. The Reserve Bank of India, or RBI, day before yesterday took some steps to provide liquidity to the banks.



On exposure of Indian banks to Lehman:

Let me assure everyone there is no cause for any alarm that any Indian bank is exposed or is vulnerable like couple of banks that have failed in the United States. There is no such apprehension. All our banks have very strong balance sheets. They are very well regulated and all of them have made full disclosures and RBI is on the top of the situation.



Impact on Indian economy:

I don’t know. There could be some tightness in credit. But if there is some tightness in credit, we will take some other steps to provide liquidity to the market.



On growth:

No, I don’t see any impact on growth. I still maintain my view that growth in 2008-09 will be close to 8%.



On reforms to provide credit to productive sectors of the economy:
I have heard a number of people make out a case. Only when the case is decided, will we know what the decision is. But I can’t tell you the decision today.



How will inflation pan out?
Don’t count the chickens before they are hatched.



On AIG:

AIG has two joint ventures in India, both with Tatas. One is in life insurance and the other is non-life insurance. We have received a full report from the Tata-AIG management. The Insurance Regulatory and Development Authority, or IRDA, has spoken to them and got a report. I have spoken to the IRDA Chairman. The solvency margins are adequate. The Tatas, who own 74% of equity, have assured us that all payment obligations will be met. Besides, AIG itself is being bailed out by the Fed. AIG is not a failed financial institution, so please don’t compare the Lehman case with AIG. As far as the Tata-AIG ventures are concerned, they are in a sound financial basis. The Tatas have assured IRDA that every payment obligation will be met.

On steps to prop up the rupee:
We don’t take a view on the exchange rate. Our position being that the exchange rate is likely to move both ways as long as the movement is orderly. Once upon a time, the exchange rate was touching 39 and some of you raised questions. Today, the exchange rate is moving in the other direction. We are concerned with the orderly movement of the exchange rate and RBI will take appropriate steps.

On solvency margins:

That question must be put to IRDA. Solvency margins are prescribed by the regulator not by the government.



On financial reforms:

Our financial reforms are carefully calibrated. We do not take decisions without carefully considering the pros and cons of the reform measure. We will continue to pursue financial sector reforms, but as I said having regard to the context, having regard to the international situation, and having regard to our ability to keep regulations one step ahead of innovation. As long as regulations remain a step ahead of innovation, there is no reason to fear that financial sector reforms will cause us difficulties or problems.



On the Hindustan Photo Films problem:

These are questions you can put to the Department of Heavy Industry, as they are the ministry concerned. All that we have done today is to provide money to pay wages and other statutory liabilities. There is a timeline for them to find a solution to the Hindustan Photo Films problem. So, the question should be put to the Minister of Heavy Industry.



On the derivative side:
As far as the public sector banks are concerned in which the government is the majority owner, there is no undue exposure. In fact, many of them have no exposure at all. Whatever exposure they have, are in accordance with RBI’s prudential guidelines. Whether the guidelines for exposure to derivatives must be tightened is again a matter for the regulator, which is RBI, and not for the government. I should not be answering for regulators.

All I can assure you as a Finance Minister is all our financial institutions are on a sound foundation. Both IRDA and RBI have assured me that there is no reason for any apprehension.
http://www.moneycontrol.com/india/news/economy/public-sector-banks-have-no-exposure-to-lehman-bros-fm/21/21/357051

economic times reports:

Despite assurances from the Insurance Regulatory and Development Authority (IRDA) that money invested with Tata AIG Life Insurance is safe, some policyholders is cagey about their investments in the company. They continue to remain sceptical about the company’s ability to service claims.

Their primary questions are along these lines — Is my money safe with them? Would I get adequate returns on my investment? Do I still hold on to the policy or withdraw it, even if I lose out on returns?

“I have a Tata-AIG life insurance policy and I hear AIG of the US is in big trouble. I just hope I don’t end up losing all my investments in the policy sold by this company,” said a somewhat jittery policyholder. Yet another, who bought a policy last week, said: “I’m not too sure if I took the right decision of investing my money in a Tata AIG policy.”

IRDA, on Wednesday, had issued a press release, saying, “Life and general insurance companies promoted by Tata Sons and Tata AIG Life are registered under Indian Companies Act and are bound by the provisions of the Insurance Act and other Regulations. The accounts of these two companies as on March 31, 2008, indicate that both companies have satisfactory solvency margins which are adequate to meet liabilities.”

For the uninitiated, this means Tata AIG has enough money to pay policyholders their dues in case there’s a claim and that their investment in the company is safe. To top it up, the American International Group has also issued a release, saying its commitments to AIG companies around the world will continue to be honoured. An official from Tata-AIG Life said: “We are well capitalised and highly solvent.” This means the company is comfortable when it comes to paying policyholders.
Tatas, on Thursday, assured insurance regulator IRDA that all Tata-AIG payment obligations will be met, according to Finance Minister P Chidambaram.

The assurance comes in the wake of the mistrust that the American turn of events have meant for insurer AIG that has a tie-up with Tatas in India. Despite assurances from the Insurance Regulatory and Development Authority (IRDA) that money invested with Tata AIG Life Insurance is safe, some policyholders is cagey about their investments in the company. They continue to remain sceptical about the company’s ability to service claims.

Their primary questions are along these lines, Is my money safe with them? Would I get adequate returns on my investment? Do I still hold on to the policy or withdraw it, even if I lose out on returns?

“I have a Tata-AIG life insurance policy and I hear AIG of the US is in big trouble. I just hope I don’t end up losing all my investments in the policy sold by this company,” said a somewhat jittery policyholder. Yet another, who bought a policy last week, said: “I’m not too sure if I took the right decision of investing my money in a Tata AIG policy.”

IRDA, on Wednesday, had issued a press release, saying, “Life and general insurance companies promoted by Tata Sons and Tata AIG Life are registered under Indian Companies Act and are bound by the provisions of the Insurance Act and other Regulations. The accounts of these two companies as on March 31, 2008, indicate that both companies have satisfactory solvency margins which are adequate to meet liabilities.”

For the uninitiated, this means Tata AIG has enough money to pay policyholders their dues in case there’s a claim and that their investment in the company is safe. To top it up, the American International Group has also issued a release, saying its commitments to AIG companies around the world will continue to be honoured.

An official from Tata-AIG Life said: “We are well capitalised and highly solvent.” This means the company is comfortable when it comes to paying policyholders.

Meanwhile. Chidambaram said collapse of Lehman Brothers can lead to some tightness in credit in India, but the government will provide coordinated funding where needed.

"There is absolutely no need for apprehension as all our banks are very strong banks and public sector banks do not have any exposure to Lehman Bros," he said.

Chidambaram also dispelled fears about the Tata-AIG joint venture in India adding that the Lehman case should not be compared with that of American Insurance Group (AIG).

"The insurance regulator's chairman have spoken to the Tatas and have been assured that all payment obligations of Tata-AIG will be made," he said.

He said the Tatas own 74 percent of the joint venture and the group has assured the insurance regulator, the Insurance Regulatory and Development Authority (IRDA), that the Indian joint venture is not facing solvency issues.

Chidambaram's comments came as US authorities grappled with the financial crisis triggered by the collapse of merchant bankers Lehman Brothers.

On India's economic growth, he said: "I still maintain my view that growth in fiscal 2008-09 will be close to 8 percent."
Regarding the exchange rate of the Indian rupee, he said the government does not take any view on the exchange rate.
"The exchange rate is likely to move both ways, and as long as it moves both ways in an orderly manner, the government will not worry about it," the minister said.

As for shoring up the rupee-dollar exchange rate, Chidambaram said the Reserve Bank of India (RBI) was the regulator and would take appropriate steps if and when needed.

"Our financial reforms are carefully calibrated. We do not take decisions without considering pros and cons. We will continue to pursue financial sector reforms.

"But we will do so with regard to context, and we will keep regulations a step ahead of innovation. As long as we do that, we do not think that financial sector reforms will cause us problems." Chidambaram said.


PIL seeks direction to govt to ensure Nano project in WB
18 Sep, 2008, 2124 hrs IST, PTI
KOLKATA: A PIL was on Thursday filed before the Calcutta High Court seeking direction to the West Bengal Government to ensure that Tata Motors will not leave Singur.

The petitioner claimed that if the Tatas decided not to set up their Nano small car plant at Singur, it would be detrimental to the interest of the development of industry and job generation in the state.

The PIL, filed by Delhi-based 'Coalition for Rural Empowerment Group Owners', is likely to be moved before the court of Chief Justice S S Nijjar tomorrow.

Srirupa Mitra Chowdhury for the petitioners sought intervention of the court in making the state government take steps to ensure conducive atmosphere for Tata Motors to set up the plant at Singur.


Tata seeking new sites for Nano
By Rahul Tandon
BBC News, Calcutta



Work at the West Bengal plant has been suspended indefinitely
The Indian firm Tata says it is actively looking for new sites at which to build the world's cheapest car.

Work at Tata's plant in West Bengal state has been suspended since the end of August in a row over land acquired from local farmers.

On Thursday the chief minister of the southern state of Karnataka said he had offered Tata 1,000 acres of land to build the car, called the Nano.

The Nano is due to be launched in October, but that could be delayed.

Compensation

Tata's patience appears to be running out. Work at its factory at Singur stopped more than three weeks ago, because of protests at the plant.




Exclusive look at the Tata Nano

Even though they have now been suspended, the company's managing director, Ravi Kant, has held talks with the chief minister of Karnataka, who has offered the company land to build the car.

After the meeting, Mr Kant said the company was actively looking for alternatives to its plant in West Bengal.

Tata's comments come as attempts to resolve the land dispute at Singur have broken down.

Local farmers are demanding the return of almost 300 acres of land, handed to Tata by the state government of West Bengal.

The state government says this is not possible and has instead offered them increased compensation.

The news that Tata is now looking elsewhere will come as a setback to the communist-led government of West Bengal.

If the plant is moved, they fear that it will slow down industrialisation in what is one of India's poorest states.

Others, however, say this dispute is part of a wider problem between India's growing industry - which needs land - and its farmers who are unwilling to give it up.

It may be some time yet before the world's cheapest car is seen on India's busy roads.
http://news.bbc.co.uk/2/hi/south_asia/7622673.stm




Not a nano question

http://www.hindustantimes.com/StoryPage/FullcoverageStoryPage.aspx?sectionName=&id=7c55014d-9bf6-4e8b-82e6-71bc50ee0957Tata-Singurrow_Special&&Headline=Not+a+nano+question

Hindustan Times
Email Author
August 25, 2008
First Published: 22:22 IST(25/8/2008)
Last Updated: 13:41 IST(7/9/2008)

It is not about Ratan Tata or India’s largest auto company, Tata Motors —which is challenging assumptions of costs the world over. The Rs 1,500 crore that the company is ready to forego for employee safety is as generous a promoter as any worker can aspire for. The amount — 9 per cent of the company’s market capitalisation — has been taken in stride by the 309,530 shareholders. Between Tata’s exit threat and today, its stock has risen almost 5 per cent.

It’s not the profits, which Nano would have brought, that the markets worship. When announced in 2004, the company was looking at margins that would be thinner than the industry’s five per cent. In the four years that have passed since, input costs have gone up. And if excise duties on small cars not been halved from 24 per cent to 12 per cent, the surging inflation would have turned the Rs 1 lakh car project into a loss-making venture. (Even now, I suspect company finances would be better off without Nano.)

It’s not about Nano, expected to be the world’s cheapest car, which was to help some of the 7.2 million two-wheeler buyers migrate to the four-wheel category at the rate of 250,000 Nanos every year. Riding on this 623 cc change agent is the potential to do to Indian travel what the mobile phone has done to Indian communication. The car will offer safety, dignity and style to millions of consumers, at a price that the world said — and many competitors continue to say off-record — was impossible. Thanks to this promise, the car, the company, Singur and West Bengal as well as the country have been put on the world auto map.

It’s not about the Tata Group, which can glide over this speed breaker as effortlessly as the high-end Jaguar it bought on June 2, 2008, can over physical bumps. If this needless controversy is examined from the group’s finances level, the Rs 1,500 crore that Tata Motors might lose would be made up by the group’s profits in 25 days. To put it in perspective, Nano is one product out of hundreds, of one company out of 164, operating in one out of seven sectors — IT, engineering, materials, services, energy, consumer products and chemicals — that the group has focused on.

It’s not about the 997 acres at Singur. Or even the 400 acres that Trinamool Congress chief Mamata Banerjee wants the company to give up. In the hoodlum-led, violent and disruptive politics that Banerjee and her brigade have unleashed, logic or on-ground rigour has no place. When Ratan Tata says that he will not be able to keep down the price if ancillaries are not on land contiguous to the main car plant, it is an argument of a businessman, not a speculator who wishes to amass any extra square inch to convert the plant into a high-rise, high-end, golf-course facing apartment complex.

It’s not about the industrial resurgence of West Bengal. Already reeling under shortage of new investments in the industrial sector, the state is burdened with an anti-business image, something that Chief Minister Buddhadeb Bhattacharjee has tried very hard to change. The Nano project needs to be contextualised from the state’s economic point of view, where industrial sickness is reaching epidemic proportions. Officially, there are 35 million unemployed people and 70 per cent of the 1,730 industrial units in the state that have commenced production recently have done so with investments of less than Rs 10 crore. The Nano project could have created and driven on a new road, which other industrial groups would have followed.

It’s not about India. While the car company has got invitations from Haryana, Orissa, Punjab, Andhra Pradesh and Maharashtra, each has its own local politics that is not conducive for Nano. The jingoistic ‘Marathi manoos’ won’t allow parking rights to an ‘Indian’ in Maharashtra. Tata Steel, one of the group companies, has burnt its fingers at Kalinga Nagar in Orissa (another state in dire need of industrial development); there are growing protests in Haryana against Reliance’s Special Economic Zone. Nano can easily do without these. When it was unveiled on January 10, 2008, invitations to set up similar plants came from Africa and South America. Closer home, Vietnam and China are ready to host the plant. All of these are just one Memorandum of Understanding away.

So what’s it all about? Answer: Bengali voters in the short-term and Indian voters in the long. At their intellectual addas, the voters in Bengal have to decide whether they will continue to back foolish leaders who are seeking political blood by opposing large industrial projects which can accelerate economic development and ensure a further flight of capital from the state. or whether they seek a leadership that’s more in tune with the state’s flight to prosperity. Zooming out, Nano asks another uncomfortable question in an election year: what is the democratic model we are choosing? Of violence? Of poverty creation? Of changing our economic benchmarks from China, which is slowly getting out of reach, to Brazil? In a globalised age, where neither workers, nor entrepreneurs, material, money, markets and consumers can be geographically classified, is India’s democratic choice going to serve and grow the economies of other nations?



Lehman Brothers Holdings Inc.

Lehman Brothers was founded in 1850 by two cotton brokers in Montgomery, Ala. The firm moved to New York City after the Civil War and grew into one of Wall Street's investment giants, despite period brushes with death. On Sept. 14, 2008, the investment bank announced that it would file for liquidation after huge losses in the mortgage market and a loss of investor confidence crippled it and it was unable to find a buyer.

Lehman's slow collapse began as the mortgage market crisis unfolded in the summer of 2007, when its stock began a steady fall from a peak of $82 a share. The fears were based on the fact that the firm was a major player in the market for subprime and prime mortgages, and that as the smallest of the major Wall Street firms, it faced a larger risk that large losses could be fatal.

As the crisis deepened in 2007 and early 2008, the storied investment bank defied expectations more than once, just it had many times before, as in 1998, when it seemed to teeter after a worldwide currency crisis, only to rebound strongly.

Lehman managed to avoid the fate of Bear Stearns, the other of Wall Street's small fry, which was bought by JP Morgan Chase at a bargain basement price under the threat of bankruptcy. Lehman and Bear Stearns had a number of similarities. Both had relatively small balance sheets, they were heavily dependent on the mortgage market, and they relied heavily on the “repo” or repurchase market, most often used as a short-term financing tool.

But by the summer of 2008 the rollercoaster ride started to have more downs than ups. A series of writeoffs was accompanied by new offerings to seek capital to bolster its finances.

Read More...

Lehman also fought a running battle with short sellers. The company accused them of spreading rumors to drive down the stock's price; Lehman's critics responded by questioning whether the firm had come clean about the true size of its losses. As time passed and losses mounted, an increasing number of investors sided with the critics.

On June 9, 2008, Lehman announced a second-quarter loss of $2.8 billion, far higher than analysts had expected. The company said it would seek to raise $6 billion in fresh capital from investors. But those efforts faltered, and the situation grew more dire after the government on Sept. 8 announced a takeover of Fannie Mae and Freddie Mac. Lehman's stock plunged as the markets wondered whether the move to save those mortgage giants made it less likely that Lehman might be bailed out.

On Sept. 10, the investment bank said that it would spin off the majority of its remaining commercial real estate holdings into a new public company. And it confirmed plans to sell a majority of its investment management division in a move that it expects to generate $3 billion. It also announced its latest round of bad news -- an expected loss of $3.9 billion, or $5.92 a share, in the third quarter after $5.6 billion in write-downs.

By the weekend of Sept. 13-14, it was clear that it was do or die for Lehman. The Treasury had made clear that no bailout would be forthcoming. Treasury Secretary Henry M. Paulson Jr. and Federal Reserve officials did encourage other financial institutions to buy Lehman, but by the end of the weekend the two main suitors, Barclay's and Bank of American, had both said no. Lehman had reached the end of the line.

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ARTICLES ABOUT LEHMAN BROTHERS HOLDINGS INC.
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Need a Job? $17,000 an Hour. No Success Required.
By NICHOLAS D. KRISTOF
I’m delighted to announce that Richard Fuld, the longtime chief of Lehman Brothers, is winner of my annual award for corporate rapacity and poor corporate governance.

September 18, 2008

A House Marked by 8 Years of Local Financial Change Now Falls Into British Hands
By PATRICK MCGEEHAN
As part of a deal to buy the Lehman Brothers main securities-trading operations, Barclays Capital, a London-based firm, announced that it would also acquire their headquarters.

September 18, 2008

For Wall Street, Greed Wasn’t Good Enough
By PAUL WILMOTT
For investment banking to turn back into something useful, financial companies need to tie compensation to long- rather than short-term performance.

September 18, 2008
Corrections: For the Record
September 18, 2008
Goldman Posts Profit, and Morgan Follows Suit
By LOUISE STORY
Goldman Sachs posted quarterly profit that beat analysts’ expectations, while Morgan Stanley reported profit that was even stronger than Goldman’s.

September 17, 2008
The Fed Holds Rates Steady, and Wall Street Turns a Bad Start Around
By MICHAEL M. GRYNBAUM
After an initial drop, stocks rose, overcoming an initial drop after the Federal Reserve decided to keep interest rates steady.

September 17, 2008
A Failure Tax
By JONATHAN G S KOPPELL
Why not make investment banks and other companies pay the government premiums for catastrophic risk insurance?

September 17, 2008
G.M. and Ford Officials Seeking U.S. Loans to Meet Fuel Goal
By BILL VLASIC
Executives from General Motors and the Ford Motor Company pressed their case on Tuesday for $25 billion in federal loans in a series of high-level meetings with lawmakers in Washington.

September 17, 2008

Fed’s $85 Billion Loan Rescues Insurer
By EDMUND L. ANDREWS, MICHAEL J. DE LA MERCED and MARY WILLIAMS WALSH
Fearing a financial crisis, the Fed reversed course and agreed to bail out A.I.G. in the central bank’s most radical intervention.

September 17, 2008
A.I.G. Is Still Profitable, With a Wide Array of Enterprises
By JONATHAN D. GLATER and HEATHER TIMMONS
The great assortment of assets at the American International Group reflects the determination of Maurice R. Greenberg, the man who built A.I.G. into an empire spanning the globe.



Indian cos yet to come out in open: Credit Suisse
18 Sep, 2008, 1833 hrs IST, ECONOMICTIMES.COM
http://economictimes.indiatimes.com/Indian_cos_yet_to_come_out_in_open_Credit_Suisse/articleshow/3499731.cms

Recent economic data, including IIP, GDP growth and corporate profit growth, indicate that all is not well with the Indian economy. However, Indian corporates still find it hard to admit any slowdown in business activities, says Credit Suisse in its latest research report on India Corporate Survey.

In a quick survey of Indian corporates, Credit Suisse was surprised to find that over 60 per cent of the 86 companies they spoke to denied seeing any slowdown in business activities, in contrast to 60 per cent of Chinese corporates accepting a slowdown in a similar survey.

“We have reasons to believe that smaller Indian companies have yet to come out in the open about their problems in the current business environment. On closer scrutiny, we found weakening demand as the overriding concern for companies witnessing a slowdown. While companies are worried about inflation in the near term, a slowdown in economic growth is seen as the biggest risk to business models in the longer term. Thus, policymakers would do well to look at issues other than inflation which could possibly affect growth,” it says in the report.

On closer scrutiny, Credit Suisse also found that most of the denial of a slowdown was from the smaller companies (market cap lower than $1 bn), while large companies ($6 bn-plus market cap) were more comfortable speaking negatively about their current business environment.

“We were intrigued by the optimism shown by companies in construction and NBFC sectors, among others, while their larger cousins in capital goods and banking industries spoke openly of a slowdown. We believe we have yet to see confessions in the Indian corporate world, especially in small caps,” the report says.

Typically, infrastructure bottlenecks and supply-related constraints have been the biggest problems for corporate India in the past few years. For many, demand was almost always a given. The survey shows that the current slowdown is largely from demand-related rather than supply-related factors – 90 per cent of companies facing a slowdown cite this.

While it could be logical to believe that inflation could be the key concern on demand, only a quarter of the corporates shared this view. Interest rates (23%), a general slowdown in the economy (16%) and weakening consumer spending (8%) came out as the other important concerns. While inflation could be indirectly linked to all these factors, economic slowdown and consumer spending are beginning to worry corporates.

Over the near term, Indian corporates expect an improvement in business environment after inflation cools off. But over the longer term, slowing economic growth overshadowed all other factors as the biggest risk that companies see to their business models.

Thus, inflation is probably just a short-term concern leading to tough times for a few Indian companies. But the biggest underlying business risk remains economic growth, the report says.



ICICI Prudential Life launches 'Sarv Jana Suraksha'
17 Sep, 2008, 1726 hrs IST, PTI



MUMBAI: ICICI Prudential Life on Wednesday launched its first micro-insurance product, Sarv Jana Suraksha', especially designed towards making life insurance cover available to customers across lower-income groups.

The Sarv Jana Suraksha plan has a term of five years and offers age-independent premium to customers in the age group of 18-55 years, a company press release said.

"Micro insurance is a key element in the financial services package, especially for individuals in the low-income group. There is an imperative need to introduce products in the micro insurance space that will provide customers the ability to avail a life insurance cover at an affordable cost," ICICI Prudential Life Insurance's Senior Vice President and Head-sales, Anup Rao, said in the release.

It offers a minimum sum assured of Rs 5,000 with an upper ceiling of Rs 50,000.

The plan also entails an annual premium payment frequency with a death benefit amounting to 100 times of the base premium and can be availed upto the age of 60 years, the release said.

Gold, silver surge on breaching key resistance levels
18 Sep, 2008, 1830 hrs IST,Devangi Joshi, ECONOMICTIMES.COM



MUMBAI: Gold has rallied nearly 15 per cent in the last two trading sessions, demonstrating its status of a safe haven commodity.

Benchmark December gold on COMEX--a division of New York Mercantile Exchange--traded closer to $890 an ounce Thursday after posting its biggest one-day rise in nearly 26 years on Wednesday. October futures on MCX is trading past Rs 13,000 per 10 gm.

Silver futures have also rallied by more than 19 per cent since previous close, trading well above Rs 19,500 per kg. COMEX December silver has managed to gain nearly $2 per ounce in last two sessions.

Prices were expected to remain on the higher side owing to the turbulence in financial markets. According to Praveen Singh, research analyst, Sharekhan Commodities, “After the Federal Reserve rescued troubled insurance giant AIG, the market seems to have stabilized for more leveraged positions to build up. This is drawing investors to look at safe bets like gold and silver to put their money into.”

“We would be looking at a range of Rs 12,750-13,800 for MCX Gold October contract to give good buying opportunity to traders. The wide range of rupee exchange rate adds to chances of this range to hold for the short-term. Silver prices on the other hand could look at Rs 21,000-21,500 on the upside, while Rs 17,500 is expected to be the downside support for MCX December contract,” said Harish Gallipeli, head of research, Karvy Comtrade.

A pullback in crude oil prices after the weekly inventory data showed a more than expected decline also helped the yellow metal to extend its gains. US crude oil stockpiles fell by 6.33 million barrels, a fourth consecutive decline. However, $100 a barrel mark is seen as a crucial resistance for the November contract on NYMEX.

Traders are looking towards $900-910 range in gold prices as the upside resistance which also coincide with the 200-day moving average of the prices. “ Besides the demand from big players in a scenario when other asset classes are being outperformed by gold, retail investors generally look towards the precious metal in uncertain time periods,” said Galipelli.

According to him, fears that other global banking institutions could also be in line to announce their losses or, even worse, their liquidity problems, are helping investors to look at precious metals as an assurance against ambiguous markets.



Talks on to formulate guidelines on NRI bride's issue
18 Sep, 2008, 2051 hrs IST, PTI

NEW DELHI: The Ministry of Women and Child Development was in talks with other Government departments to formulate guidelines in order to address the issue of Indian women who have been deserted by their NRI husbands.

Women and Child Development Minister Renuka Chowdhary today said she had initiated talks with the External Affairs and Home Ministries so that NRI husbands who have deserted their wives and are traceless can be found and punished.

Under the guidelines, consul generals of all countries would be asked to keep a check on NRIs marrying Indian women so that they can be traced in case of any need.

"We are in the formulation stage and External Affairs Minister Pranab Mukherjee has taken a keen interest in this matter," she added.

Chowdhary said cases abound, specially in Punjab, of women who had been deserted by their husbands and have nobody to take care of them anymore. "The parents of such husband refuse to divulge the whereabouts of their sons thus we need strong guidelines against this practice," she said.

Apart from this, the Ministry also wanted to make provisions for only the mother's name to be enough in any Government documents like Passports and during school admissions.

Reliance Life Insurance's income up 152 pc
18 Sep, 2008, 2102 hrs IST

Reliance Life Insurance Co Ltd (RLIC), part of the Anil Dhirubhai Ambani Group (ADAG), on Thursday said its premium income has grown by 152 per cent during April-July this fiscal.



Promoters find warrants too expensive to convert
18 Sep, 2008, 0136 hrs IST,Vijay Gurav, ET Bureau



MUMBAI: When the going was good, many promoters generously conferred share warrants on themselves, perhaps thinking that the uptrend in share prices would go on forever. But with the market now in the midst of a prolonged slump, they appear to have developed cold feet. Some promoters have decided against exercising the option to convert warrants into equity as the conversion price are significantly higher than the prevailing market price. The smarter ones are instead taking the open-market route to acquire shares at a much cheaper cost than what would have been had they gone for conversion at the pre-determined price.

In the bullish market, promoters of many companies had subscribed to equity warrants at conversion prices calculated on the basis of the SEBI formula of the weekly high and low average during the preceding six months or two weeks, whichever is higher. They had apparently gone for aggressive pricing, hoping that share prices would continue to gain, which, in turn, would give them an opportunity to increase their holdings at a cheaper cost.

Nagarjuna Construction is a notable example where promoters did not exercise the conversion option against warrants issued on preferential basis in February last year. The 25 lakh optionally convertible warrants have been lapsed as the warrantholder AVSR Holdings decided not to covert the warrants. The conversion price was fixed at Rs 217 while the shares are currently quoting at Rs 113.

The promoter company, however, opted for some bottom fishing, acquiring 3.5 lakh shares from the market in the current month. With this, the combined holding of Nagarjuna Construction’s promoters (including AVSR Holdings) increased from 22.5% to 22.8%, according to disclosures filed with BSE. From its peak of Rs 372.8 recorded on January 3, the stock has plunged 70% to the current level.

In another example, promoters of Grabal Alok Impex decided to forfeit the 10% subscription paid at the time of allotment of warrants, instead of converting them into equity by paying the balance 90% amount. Under SEBI (Disclosure and Investor Protection) Guidelines, 2000, warrant subscribers can initially pay 10% of the amount while the balance 90% can be paid at the time of exercising the conversion option, which should be done within 18 months of the allotment.

Grabal Alok Impex recently informed BSE that its promoters Jiwrajka Investment and Nirvan Holdings did not wish to exercise the conversion option, which, according to analysts, could be because they did not find it sensible to do so after a sharp fall in the market price. The stock is currently quoting at Rs 80, a sharp 45% discount to the conversion price of Rs 145.

There are many other companies where the warrants would be due for conversion in the next few months while the stocks are trading much below the respective conversion prices. For instance, greeting cards major Archies alloted a total of 10 lakh warrants to promoters and other investors at a price of Rs 159.5 in June last year. The stock closed at Rs 96 on Wednesday. The warrants are due for conversion in December this year. “The promoters have a good faith in the company’s prospects and so would go for conversion in any case. Even though market conditions are not good, it should not be a problem as the company’s fundamentals are strong,” said Archies company secretary Vikas Kumar Tak.

Tata, Ambani, Mittal among most influential of 21st century
18 Sep, 2008, 2040 hrs IST, PTI
NEW YORK: After making waves on the lists of richest and powerful business leaders of the world, four Indians --- Ratan Tata, Mukesh Ambani, Lakshmi Mittal and Ronnie Screwvala -- now figure among the 75 most influential persons of the 21st century.

The four are accompanied by two more persons of Indian origin residing in the US -- Louisiana governor Bobby Jindal and geopolitical analyst Parag Khanna -- in the list compiled by fashion entertainment magazine Esquire.

These six with India link find a place alongside Bill and Hillary Clinton, New York City mayor Michael Bloomberg, US presidential candidate Barack Obama, Russian leader Vladimir Putin and former US Vice President Al Gore.

The list appears in the 75th Anniversary edition of the magazine, hitting the newsstands this month.

It includes media baron Rupert Murdoch, Microsoft founder Bill Gates and his wife Melinda, Apple's Steve Jobs, industrial conglomerate GE's chief Jeffrey Immelt, Russian oil oligarch Roman Abramovich, Google's co-founders Larry Page and Sergey Brin and celebrities like Tiger Woods and Oprah Winfrey.

Besides there are also Hollywood personalities like Scarlett Johansson, George Clooney and Will Smith.

About Mukesh Ambani, it said that he has made the cut "because India's rise will be fuelled by its entrepreneurs. And Ambani -- with his USD 43 billion fortune and his oversight of India's biggest firm -- is chief among them."

On Tata's inclusion, Esquire said that he is among the 75 most influential of 21st century "because it's nearly impossible to go a day in India without using a Tata product. And it might be that way in many other places, too."

Esquire said that steel tycoon Lakshmi Mittal is there "because he heads up the world's largest producer of steel and employs 310,000 people in 60 countries."

Reliance Life Insurance's income up 152 pc
18 Sep, 2008, 2102 hrs IST

Reliance Life Insurance Co Ltd (RLIC), part of the Anil Dhirubhai Ambani Group (ADAG), on Thursday said its premium income has grown by 152 per cent during April-July this fiscal.

Talks on to formulate guidelines on NRI bride's issue
18 Sep, 2008, 2051 hrs IST

The Ministry of Women and Child Development was in talks with other Government departments to formulate guidelines in order to address the issue of Indian women who have been deserted by their NRI husbands.

All News headlines >>


News By Company
Reliance Life Insurance's income up 152 pc
Tata, Ambani, Mittal among most influential of 21st century
22 Indian cos find place in Forbes' Best under a Billion list

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News By Industry
Govt announces scholarship schemes worth over Rs 3,000 cr
Apollo, IGNOU to offer 45 health-related courses in India
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Economy
India can export 8,424 tons raw sugar to US under TRQ
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Oil prices rally beyond $102

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Bush says he's working hard on US economic turmoil
Gloom from US financial crisis infects Europe
Morgan Stanley-Wachovia talks raise questions

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Politics/Nation
Talks on to formulate guidelines on NRI bride's issue
India, China to become superpowers in two decades: key Obama aide
Non-proliferation groups appeal to Congress to reject N-deal


http://economictimes.indiatimes.com/News/articlelist/1715249553.cms

US financial crisis set to impact India's real estate sector
18 Sep, 2008, 0642 hrs IST, Prabhakar Sinha



Consultants said that in the present circumstances realty prices will go for a sharp correction in the short to medium term. Realtors offer freebies for sales promotion



Vakil latest to jump onto affordable housing bandwagon
18 Sep, 2008, 0224 hrs IST, M Rochan

City-based Vakil Housing Development Corporation has become the latest entrant into the market to develop affordable homes as the real-estate industry tries to cope with a downtrend in demand.

All Real Estate headlines >>


News
Vakil latest to jump onto affordable housing bandwagon
Lehman fall may deepen Indian realtors' credit woes
Speculators seen keeping off from realty market

More >>

Realty Trends
US financial crisis set to impact India's real estate sector
Over-supply plagues residential market
New British homes are smallest in Europe

More >>

Policy
Proposal to increase property tax by 150 per cent flayed
FM hopes FSI hike will bring down realty prices
Realty sector seeks tax breaks on REITs in line with MFs

More >>


http://economictimes.indiatimes.com/Markets/Real_Estate/articlelist/1058830.cms

ADB urges steps to secure Asian markets from turmoil
18 Sep, 2008, 1413 hrs IST

ADB has suggested setting up of a mechanism with an early warning system to help protect Asian markets from global financial turmoil.

ECB, Fed, others pump more dollars into money markets
18 Sep, 2008, 1400 hrs IST



ECB plans to provide $40 bn to banks, money that is being provided to it by the Fed. Gainers & Losers I Sectoral: Gainers, & Losers I Gainers & Losers: BSE, NSE



Nikkei at 3-yr closing low, hit by global credit fears
18 Sep, 2008, 1248 hrs IST

The Nikkei average slid 2.2 per cent to a three-year closing low on Thursday, dragged down by financial shares on renewed credit fears, as major US banks scrambled for merger partners.

Asia battles to shield markets from Wall Street crisis
18 Sep, 2008, 1236 hrs IST

Asian authorities poured more cash into money markets on Thursday and sprang to the defence of tumbling currencies, bonds and stocks to prevent upheaval on Wall Street from shattering regional confidence.

http://economictimes.indiatimes.com/Markets/Global_Markets/articlelist/12872390.cms

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Energy Bangla, Bangladesh - 21 hours ago
TATA Motors, along with its distributor Nitol motors Ltd, have launched a GNG-variant of its latest generation pickup model Tata ace CNG for the first time ...BOM:500570

Tata Motors world truck project hits roadblock
Financial Express, India - 16 Sep 2008
The road ahead just isn’t getting better for Tata Motors. After the ongoing stalemate over its small car plant in Singur, the company’s world truck project, ...
Township gets makeover, parks & parking lot Calcutta Telegraph
all 2 news articles » BOM:500570

Unveiled: Tata Indica Vista
Edmunds.com/Inside Line, CA - 21 hours ago
Tata takes a leap forward in quality and comfort with the new-generation Indica Vista. (Photo courtesy of Tata Motors) Tata Indica Vista is larger and has a ...BOM:500570


AFP Indian protesters back at Tata plant
AFP - 16 Sep 2008
The plant is 90 percent complete and Tata Motors -- India's largest vehicle maker -- had said it aimed to launch the Nano in October in time for the ...BOM:500570


BBC News Don't act unilaterally, Tata Motors warns Bengal
Business Standard, India - 9 Sep 2008
Tata Motors Ltd today issued a fresh warning to the government of West Bengal saying the state government should not take steps that would upset commitments ...
Tata Motors cautions WB govt Press Trust of India
Work suspension at Singur will continue: Tata Motors Hindu Business Line
Tata Motors Says It Won't Resume Work at Nano Plant (Update2) Bloomberg
Hindu - Business Standard
all 1,717 news articles » BOM:500570 - NSE:E:TATAMOTORS.EQ - BOM:600570

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Thaindian.com Sort out deals with Lehman, RBI tells banks
Economic Times, India - 18 hours ago
A quick solution to swap exposures is aimed at ending the lingering uncertainty of keeping live derivatives positions of the failed bank on the books of ...
RBI in process of holding parleys with FIMMDA Business Standard
RBI mulls fate of Lehman's India biz Business Standard
all 36 news articles » LEH

Ahead of the Bell: Ambac discloses Lehman exposure
Forbes, NY - 17 Sep 2008
The New York-based insurer said its exposure to Lehman was limited to six interest rate and currency swaps in which Lehman is the swap counterparty. ...
Bond Insurer Ambac Exposed to Lehman Bankruptcy Trading Markets (press release)
Lehman exposure round-up Financial News
Ambac (ABK) Said It Has Limited Direct Exposure to Lehman StreetInsider.com (subscription)
all 22 news articles » LEH - ABK - AKF

UPDATE 1-Swiss Life details Lehman, AIG exposure
Forbes, NY - 4 hours ago
... shareholders and policyholders, adding that the company has no equity or credit default swap exposure to Lehman or AIG (nyse: AIG - news - people ). ...
Swiss Insurers Have $500 Million AIG, Lehman Exposure (Update1) Bloomberg
Swiss Re Estimates Loss Exposure to Lehman, AIG Trading Markets (press release)
Swiss Re details exposure to Lehman Brothers and AIG Reactions Magazine (subscription)
all 26 news articles » AIG - LEH - OTC:CMTX


Radio Australia Indirect risk exposures a new threat for banks
The Australian, Australia - 17 Sep 2008
Credit default swap rates, which measure the cost of insuring against corporate defaults and are a guide to the cost of longer-term funding, ...
Banks, managers reveal Lehman exposure Money Management
Big Four admit $400 million exposure to Lehman Brothers The Australian
all 174 news articles » LEH


Vancouver Sun The fallout from the bankruptcy of Lehman Brothers
Economist, UK - 1 hour ago
In a typical interest-rate swap, one party agrees to exchange a fixed-rate obligation with another that has a floating, or variable, rate exposure. ...
Panic on Wall Street: Barometers of stress hit World War II levels ... FinFacts Ireland
The Real Reason for the Global Financial Crisis…the Story No One’s ... Money Morning
Financial firms gird for backlash from weakened AIG Financial News
The Associated Press - Times Online
all 249 news articles » AIG - LEH





Breitburn says exposure to Lehman filing minimal
Forbes, NY - 4 hours ago
A Lehman affiliate is the counterparty to a 2011 oil hedge transaction, and to an interest-rate swap on a $50 million principal amount, Breitburn said. ...LEH

Daily List Of Companies Reporting Lehman Bros Exposure
CNNMoney.com - 21 hours ago
Primus intends to continue swap contracts to maturity until their mark-to-market value is zero. Company: SEB SA (12170.FR) Lehman exposure: EUR64 million ...PINK:LBHYZ - LEH-P - LEH

ICICI Bank dismisses solvency fears
NDTV.com, India - 9 hours ago
“We don’t have CDO and CDS exposures on global balance sheet either.” The bank has already sold off these credit products that have been hugely responsible ...BOM:532174


Globe and Mail FOCUS:Central Bank USD Funding Won't Address Long-Term Needs
CNNMoney.com - 6 hours ago
Banks are also expected to need to raise capital to cover losses that emerge from exposures to Lehman Brothers through trades that won't pay out or hedges ...
Banks Scramble for Funds as Crunch Spreads Smartmoney.com
Reuters Canada Business Summary ReportonBusiness.com
all 1,591 news articles »


Straits Times Ministers laud portfolio swap
New Straits Times, Malaysia - 17 hours ago
"Najib has not been given an opportunity like this before so this is exposure for him. "By switching portfolios, the prime minister is allowing Najib to get ...
Barisan leaders laud portfolio swap Malaysia Star
Portfolio swap’s good for both Sun2Surf
all 171 news articles »

Investing in India
Foreign Direct Investment in India is allowed on automatic route in almost all .... offices and agencies outside India owned or controlled by a person ...
dipp.nic.in/invindia/invind.htm - 26k - Cached - Similar pages - Note this
Netherlands Foreign Investment Agency - NFIA India
6/50 F, Shanti Path Chanakyapuri New Delhi 110021 - India T: +91 11 2419 7629 F: +91 11 2419 7715 E: info@nfia-india.com W: www.nfia-india.com ...
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New Delhi - Ambassade (En) - Netherlands Foreign Investment Agency
Embassy of the Kingdom of the Netherlands in New Delhi, India, Nederlands ... As a government agency, the Netherlands Foreign Investment Agency (NFIA) ...
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Investment Promotion Agencies in India
Investment Promotion Agencies in India. Foreign Investment Promotion Board (FIPB) · Secretariat of Industrial Assistance · The Indian Investment Centre ...
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Foreign Direct Investment : Industrial Development and Promotion ...
Foreign Direct Investment Orissa, Team Orissa is the nodal agency of Orissa for industrial promotion in Orissa, India. Team Orissa's objective is to work ...
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Sify LEADER ARTICLE: Please Grow Up
Times of India, India - 15 Sep 2008
For all the companies they have bought overseas and for all the foreign investment they have attracted, business leaders have understood the seriousness of ...
How not to deal with China Daily Pioneer
How India's Nuclear "Waiver" Was Won Scoop.co.nz
India-US agreement on track Mangalorean.com
all 98 news articles »

With Fed’s $85 Billion Loan, AIG Starts to Calculate a Measured ...
New York Times, United States - 4 hours ago
V. Sunil, the executive creative director of Weiden & Kennedy, a marketing agency in New Delhi, said that buying insurance from a company was just starting ...AIG


all 23 news articles » LEH
Global meltdown: Worry signs
Hindustan Times, India - 11 hours ago
More so, because banking and financial services account for nearly 50 per cent of the money India makes from outsourcing orders. The impact on BPO and ...


Sify IT professionals fear that they might lose job
Indian Express, India - 27 minutes ago
... ripple effect on the IT sector in India as most of the operations of the IT companies are linked to the firms based in the USA. The BPO and KPO sectors ...
BPO captives of Lehman, Merrill,AIG have nervous day Economic Times
Tech firms see bad days ahead Business Standard
Yoga classes for IT company Times of India
Sify - Economic Times
all 64 news articles » LEH - BOM:507685 - AIG

Now, headhunters target Lehman's top management in India
Economic Times, India - 16 hours ago
NEW DELHI: The phone hasn’t stopped ringing for Lehman Brothers’ top brass in India and the calls are not from sympathisers — headhunters and rival ...LEH

Instead of share sale, contact centers should consider private capital
GMA news.tv, Philippines - 7 hours ago
She even cited the case of an Indian BPO whose Wall Street clients froze their spending in technology to cope with the fallout. ...


Sify Asian ventures safe, says AIG
Business Standard, India - 22 hours ago
... a private equity arm and an asset management company, AIG Global AMC. It also has a BPO in India and is present in the aircraft leasing segment.
AIG holdings in Indian companies Moneycontrol.com
Crunch time at AIG India Times of India
AIG crisis likely to hit its India business Business Standard
all 127 news articles » AIG

India's IT services sector refreshes itself
ZDNet Asia, Asia - 7 hours ago
"India BPO export revenues have grown to nearly US$11 billion, or up by 30 percent, for the year 2007/2008," Franz said in an e-mail interview. ...

St crisis: Downsizing new talking point among techies
Economic Times, India - 10 hours ago
With the collapse of marque US financial sector names, key customers of IT and BPO companies, the mood, at best, is one of reflection, but turning at times ...


Calcutta Telegraph IIM-A expresses solidarity with Lehman Brothers, Merrill Lynch
Expressindia.com, India - 20 hours ago
In a statement, IIM-A said: “We would like to express our solidarity with two of our longstanding recruiting partners and we wish them well in their hour of ...
Future tense for IIM-A grads after Street fall Economic Times
IIMs feel US meltdown heat Times of India
Reality check for IIM grads after Wall St woes Expressindia.com
Times of India - Economic Times
all 27 news articles » LEH
IIM grads’ big bucks dreams sink, for now
Daily News & Analysis, India - 18 hours ago
MUMBAI: Admission to elite business schools like the Indian Institutes of Management (IIMs) is a ticket to fat annual pay cheques — Rs1 crore and more for ...
IIM Ahmedabad: Sympathy for Lehman (or the batch of 2009)? Livemint
all 2 news articles » LEH

TopNews Kalam in a new role, teaches at IIM-A
NDTV.com, India - 15 Sep 2008
Donning a new role former President APJ Abdul Kalam visited IIM Ahmedabad and spoke about many challenges for India ahead. On Saturday, Kalam took a class ...
Kalam asks IIM-A students to enter public domain Hindu
IIM-A all set to welcome 'Prof' Kalam Times of India
IIM-A students on mission to realise Kalam’s vision Ahmedabad Newsline
Thaindian.com - DeshGujarat
all 59 news articles »
IIM-A, Oxford to fight chikungunya
Business Standard, India - 16 Sep 2008
In a bid to avoid a repeat of last year’s chikungunya epidemic in Gujarat, Indian Institute of Management, Ahmedabad (IIM-A) is collaborating with Oxford ...
IIM Ahmedabad Answers Queries Regarding Recent Events on Wall Street
Cool Avenues, India - 17 Sep 2008
We, at IIM Ahmedabad, believe that given that the events of the past few days are not conclusive in nature and their impact on Wall Street and future hiring ...
Dr APJ Kalam commences 'Innovative Transformation' course at IIM-A
MBAUniverse.com, India - 17 Sep 2008
Dr APJAbdul Kalam, Former President of India, visited IIM-A on September 13, 2008 to deliver his first seminar to students of IIM-A. The seminar session was ...
IIM B Executive Education Alumni Association to hold panel ...
MBAUniverse.com, India - 17 Sep 2008
As part of its monthly ELITE event, IIM Bangalore's Executive Education Allumni Association will be holding a Panel Discussion on "Leadership Development" ...
IIM Kozhikode Conducts Workshop on Brand Acquisition & Integration
Cool Avenues, India - 17 Sep 2008
The Industry Interaction Cell (IIC) and mPower (Marketing Interest Group) of IIM Kozhikode, as part of IIC's Leadership Series, organized a workshop on ...
Independent Research Firm Recognizes Value of CompuCom Integrated ...
Business Wire (press release), CA - 16 Sep 2008
The initial IIM project went live in October 2004 for more than 70 locations in which the Forrester study demonstrates three year cost savings for PSEG to ...

Cool Avenues IIM Calcutta Celebrates Hindi Divas & Hindi Fortnight Valedictory ...
Cool Avenues, India - 16 Sep 2008
Shekhar Chaudhuri, Director of IIM-C, inaugurates the Hindi Divas and the valedictory session of two-week-long, Hindi Fortnight celebration at the ...


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Searches related to: IIM indian institute indian institute of management ahmedabad indian institutes of management
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Sify Tata AIG Life well-capitalised, operating normally: AIG
Hindu, India - 1 hour ago
Mumbai (PTI) : Tata AIG Life, a life insurance joint venture between the Tata group and AIG, on Thursday said that it was well-capitalised and continues to ...
Indian AIG joint venture safe: Tata AFP
Business well capitalised: Tata AIG Business Standard
Tata-AIG policy-holders need not worry: Chidambaram Press Trust of India
Economic Times - Economic Times
all 127 news articles » AIG


Thaindian.com India Says Its Banks Are Insulated From Credit Crisis (Update2)
Bloomberg - 8 hours ago
``In India, Tata AIG Life and Tata AIG General are well capitalized and subject to local stringent capital and regulatory requirements,'' according to the ...
Officials: India won't succumb to global turmoil International Herald Tribune
No cause for alarm: FM Business Standard
India need not be alarmed by US crisis: Chidambaram Press Trust of India
Moneycontrol.com - Hindustan Times
all 61 news articles » BOM:532814 - PINK:LBHYZ - LEH-P


TVNZ AIG: US Woes Have No Material Impact On India Operations
EasyBourse.com, France - 8 hours ago
NEW DELHI -(Dow Jones)- Operations at Tata AIG Life Insurance Ltd. will not be materially impacted by the financial troubles of its US parent company ...
'Bailout won't affect AIG's India business' Sify
all 488 news articles » AIG

MF investment strategies post ML, AIG turmoil
Moneycontrol.com, India - 17 Sep 2008
Tata AIG Mutual Fund and Tata AIG Life Insurance are two different entities. There is nothing called Tata AIG Mutual Fund, there is an AIG Mutual Fund. ...


CTV.ca Day 2: global markets face further turbulence
Hindu, India - 16 Sep 2008
India’s Insurance Regulatory and Development Authority on Tuesday asked the two insurance joint ventures where AIG partners the Tata group — Tata AIG Life ...
MOST E-MAILED RTT News
all 449 news articles » LEH - AIG - BAC


Voice of America Mkts end higher led by banks, oil stks; Nifty above 4K
Moneycontrol.com, India - 5 hours ago
Government has received full report from Tata AIG management and the solvency margins are adequate, he added. Tata AIG has also assured that all commitments ...
Sensex seen sliding for 8th session Reuters India
Stock markets end flat The Statesman
MOST E-MAILED RTT News
Sify - Hindu Business Line
all 242 news articles »


Sify Cleartrip, Tata AIG General tie-up to offer travel insurance
Business Standard, India - 27 Aug 2008
PTI / Mumbai August 27, 2008, 17:06 IST Travel portal, Cleartrip, has tied-up with Tata AIG General Insurance to offer domestic travel insurance solutions ...
Tata AIG General teams up with Cleartrip Sify
Tata AIG teams up with Cleartrip.com for travel insurance Economic Times
Tata AIG general inks distribution pact with Cleartrip TopNews
all 14 news articles »

Deepak Kanulkar Appointed Good Relations India COO
Media Newsline, India - 16 hours ago
In his earlier assignments, Deepak has worked as Head of Corporate Communications with Tata AIG Life Insurance Company and Tata AIG General Insurance ...

Good results for Tata AIG Life
Hindu, India - 31 Aug 2008
KOCHI: Tata AIG Life is actively pursuing micro-insurance initiative in Kerala in association with civil society organisations. ...

Tata AIG Life to increase equity exposure
Sify, India - 23 Aug 2008
Kolkata: Tata AIG Life Insurance Company Ltd will look to ramp up its equity exposure this year as it has an opportunity to buy stocks in a falling market ...

Foreign Banks in India, List & Directory of Banks in India ...
Though all the foreign banks have their global websites, but only following foreign banks have India specific pages or websites which is more than just ...
www.banknetindia.com/fbanklinks.htm - 16k - Cached - Similar pages - Note this
Foreign Banks In India
Foreign Banks in India always brought an explanation about the prompt services ... After the set up foreign banks in India, the banking sector in India also ...
finance.indiamart.com/investment_in_india/foreign_banks_in_india.html - 34k - Cached - Similar pages - Note this
Upcoming Foreign Banks In India
Upcoming Foreign Banks In India. ... By 2009 few more names is going to be added in the list of foreign banks in India. This is as an aftermath of the ...
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News results for Foreign banks in Inida

Sify RBI intervention halts Re slide - 22 hours ago

The rupee rose on Wednesday, following the Reserve Bank of India’s (RBI) ... However, heavy dollar demand from foreign banks caused the rupee to fall to the ...

Economic Times - 172 related articles »
Foreign banks demand more space, desis differ - Hindustan Times - 3 related articles »

Foreign Banks in India - Information on Foreign Banks in India ...
Government has come up with a road map for expansion of foreign banks in India. Read about information and profile of foreign banks in India.
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Banks and Financial Institutions : Foreign Banks india growth ...
Advances to Priority Sectors by Foreign Banks in India (2001 to 2004 and 2007) ... Financial Performance of Foreign Banks in India (2003-2004 to 2005-2006) ...
www.indiastat.com/india/ShowData.asp?secid=104&ptid=3&level=2 - 64k - Cached - Similar pages - Note this
India actually favours foreign banks
8 Dec 2007 ... At present, there are 29 foreign banks operating in India with a network of 273 branches and 871 off-site ATMs. The facts indicate that the ...
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Foreign banks demand more space, desis differ- Hindustan Times
18 Sep 2008 ... Chiefs of foreign and Indian banks crossed swords at the Mint Annual Banking Conclave over the opening up of the financial sector in India.
www.hindustantimes.com/Redir.aspx?ID=b0a805ea-0267-4567-83aa-47e48485a31b&SectionName= - 82k - Cached - Similar pages - Note this
Banking : Foreign banks Nationalized banks Scheduled bank ...
Asian Development Bank, India Resident Mission ... Foreign Exchange Management Act (FEMA), 1999 ... Industrial Investment Bank of India (IIBI) ...
on-lyne.info/banking.htm - 74k - Cached - Similar pages - Note this
Foreign banks expect RBI to give them more freedom in buying ...
8 Sep 2008 ... MUMBAI: Foreign banks are hoping that new Reserve Bank of India (RBI) governor D Subbarao would give them more leeway in picking up stakes ...
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Entry of big foreign banks has not widened access to include ...
5 Aug 2008 ... In the case of India, the entry of foreign banks has not widened the access of banking services in the country. ...
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KPMG to Hold 48-Hour Virtual 'World Jobs Fair'
Earthtimes (press release), UK - 4 hours ago
"This event allows interested job candidates to easily explore opportunities and a potential career with KPMG, and it gives us an opportunity to tap into a ...

Need Global Talent? Grow Your Own
NewsFactor Network, CA - 2 hours ago
Even in China and India, where there is a seeming glut of workers, human resources is no longer a straightforward operational issue. ...

BoA sees growth opportunities in India
Myiris.com, India - 15 Sep 2008
Globally, the deal is expected to result into thousands of job cuts, but the industry experts said that layoffs could be minimal in India as the two ...

Hotel Jobs Site Launched
Live-PR.com (Pressemitteilung), Austria - 23 hours ago
17.09.2008 19:32:58 Welcome India Org a Indian Database Company informed that their website www.hotelnaukri.com which is dedicated to job search in the ...

superpower war: China, America over Taiwan, oil, trade, politics ...
Cleveland Indy Media, OH - 10 hours ago
How about China vs America vs India? by George Zhibin Gu, 248 pages; October 2006 Part reference, part musing, part insightful and timely analysis, ...OTC:CAAH

Vengsarkar makes light of middle-order failure
The Statesman, India - 15 Sep 2008
The BCCI has done a wonderful job in organising a triangular one-day tournament as well as four day matches between the 'A' teams of India, Australia and ...


Sify Lehman’s staff flood job mart with CVs
Sify, India - 16 Sep 2008
... on job portals and networking to learn about opportunities in other companies and even countries. One of these companies is India Advisory Partners, ...LEH

Farmers and factories fight over land in India
International Herald Tribune, France - 17 Sep 2008
"The people who are being displaced are not the people who see themselves as benefiting immediately from the employment opportunities. ...

Strugglers of Bollywood
Times of India, India - 7 hours ago
"A good actor always finds work for himself," Misra said in an interview to the Times of India. An advise 200 aspiring actors, who register themselves with ...

India welcomes decision
ZNBC, Zambia - 2 hours ago
And Mr. Mutati said he highly valued the meeting because it will translate into more job opportunities for Zambians. Before the bilateral trade talks, ...

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Santa And His Fire Truck Are For Hire In Tampa With Old Cracker ...
10 Sep 2008 ... Santa And His Fire Truck Are For Hire In Tampa With Old Cracker Fire Company. Looking for Santa to arrive at your home, at your business, ...
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The Hindu : Setting the tune for hire-and-fire labour laws
Setting the tune for hire-and-fire labour laws. Despite arguing for a reasonable balance between the objective of protecting the legitimate rights of ...
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Hire and fire plan: Good or bad?
1 Feb 2008 ... Making a case for liberalising labour laws, the National Commission for Enterprises in the Unorganised Sector suggested on Thursday adoption ...
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The Hindu Business Line : PM recognises concerns over `hire and ...
5 Oct 2004 ... THE Prime Minister, Dr Manmohan Singh, on Monday recognised the workers' concern over the `hire and fire' policy pursued by the industry ...
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Hire Me? Fire Me! Hired Myself: Hired Myself : how to Make the ... - Google Books Result
by David Michael - 2006 - Business & Economics - 232 pages
This is a collection of experiences and insights from 16 people across different professions, countries, industries, religions and cultures.
books.google.co.in/books?isbn=1411677714...

Welcome to FIREHIRE® Inc.
firehire.com. let you take a joint fire test to be placed on numerous lists for firefighter jobs. Fire agencies hire prospective candidates for $800.00 ...
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US blocks 30 Ranbaxy drugs
Regulator blacklists 2 facilities; no bar on drugs from other units. New Delhi, Sept. 17 In a blow to Ranbaxy Pharmaceuticals Ltd, the US Food and Drug Administration has blacklisted about 30 generic drugs being manufactured by the company at ...

Markets give thumbs down to AIG rescue
Mumbai, Sept. 17 Convulsions on Wall Street eased a bit on Wednesday, feeding on the announcement by US Federal Reserve of a bail-out of the embattled American International Group (AIG) that may help the US insurer from capsizing the ...



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Seeking help: The Nepal P... TODAY'S PICK (Latest Audio: English/Tamil)
Castrol India (Rs 331.30): Sell
We recommend a sell in Castrol India from a short-term perspective. It is apparent from the charts that the medium-term uptrend of the stock, which began in early July from the support level of Rs 235 had encountered resistance at Rs 355 ...

Day Trading Guide





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Pharma sector worried over USFDA’s ‘conservatism’
Sharp fall in new drug approvals this year. Hyderabad, Sept 17 The ‘conservative’ approach of US Food and Drug Administration in granting new drug approvals and quality norms can have a long-term impact on the drug industry, ...

Oil India public offer plans on track
To hit the market on November 10; price band likely in Oct. New Delhi, Sept 17 The stock market volatility is unlikely to defer public sector undertaking Oil India Ltd’s (OIL) initial public offer (IPO) schedule of November. Sources said ...


IT cos look to gains from rupee weakness
Uncovered receipts can be hedged in tune with current developments. Bangalore, Sept. 17 Indian IT companies are optimistic they can take advantage of the present weakening of the rupee against the dollar even though it had led to ...


‘No plans to review import duty on farm items’
Focus of concern may shift from consumers to farmers. New Delhi, Sept. 17 The Centre has no plans as of now to re-impose customs duties on agricultural products, many of which are currently importable at nil duty. This comes even as harvesting ...


Shut the revolving door between investment banks and Government
A Government bailout means a taxpayer bailout. US taxpayers - whether they were part of this unscrupulous and foolish swindle or not - will foot the bill.. This is the time of greatest danger for ordinary people, cautions Ms Lila Rajiva. ...


Ministry favouring international players, say highway builders
Plan to take up qualification issue with Finance Ministry. New Delhi, Sept. 17 Indicating that the Road Ministry is further complicating the ongoing bidding process for 53 National Highways Authority of India (NHAI) projects by changing the ...


Shares with higher FII holding may come under pressure
Global investors have focused on IT and banking companies. Mumbai, Sept. 17 Indian companies in which FIIs’ shareholdings are substantial are likely to come under more selling pressure on the bourses, ...


FIIs invest record $2.2 b in debt on September 16
Mumbai, Sept. 17 Net investments in Indian debt instruments made on September 16 by foreign institutional investors amounted to a staggering $2.2 billion (Rs 8,904 crore), the combined data provided by custodians to SEBI ...


“The law should protect investments in sport”
The sustainability of sports will depend on the law’s ability to meet newer challenges.. Earlier this year, the Indian sports industry saw one of the biggest financial investments, to date, with the launch of the Indian Premier League ...


Bay under watch as depression crosses land
The deep depression in the Bay of Bengal (classified as a ‘numbered tropical cyclone 02B’ internationally) crossed the Orissa coast on Tuesday evening and has lain centred over north Orissa through Wednesday retaining much of ...



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