VRITTAM (03 NOV 2014 - 09 NOV 2014)

VRITTAM  (03 NOV 2014 - 09 NOV 2014)

THE WEEKLY FINANCIAL NEWS

 Kingfisher Airlines faces trading suspension from 1 December
India’s two main stock exchanges will suspend trading of shares of grounded Kingfisher Airlines Ltd from 1 December for failing to comply with rules on reporting financial results, the bourses said in separate notices.

Aadhaar may be used to curb black money in real estate

Ahead of the new framework for non-banking finance companies (NBFCs) expected by the end of this month, the central bank has been slowly tweaking norms for them, signalling tighter regulation on cards. Analysts said the Reserve Bank of India (RBI) has quietly put in place small changes during the current fiscal year, creating a more level playing field between NBFCs and banks—which often do the same kind of business but are subjected to different regulations.

Read more at: http://www.livemint.com/Industry/VBQwACJCYFoqCFESalqF4I/NBFCs-brace-for-tougher-norms-from-RBI.html?utm_source=copyAhead of the new framework for non-banking finance companies (NBFCs) expected by the end of this month, the central bank has been slowly tweaking norms for them, signalling tighter regulation on cards. Analysts said the Reserve Bank of India (RBI) has quietly put in place small changes during the current fiscal year, creating a more level playing field between NBFCs and banks—which often do the same kind of business but are subjected to different regulations. 

NBFCs brace for tougher norms from RBI

Read more at: http://www.livemint.com/Industry/VBQwACJCYFoqCFESalqF4I/NBFCs-brace-for-tougher-norms-from-RBI.html?utm_source=copy

NBFCs brace for tougher norms from RBI

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In a move aimed at curbing the use of black money in property deals, the government is considering linking real estate transactions with Aadhaar, the unique identity number.

 

 Flipkart seeks valuation of over $10 billion in new financing

 US unemployment falls again in October

The US economy added 214,000 jobs in October, while the unemployment rate has fallen to 5.8%, official Labor Department figures show.

Inflation, IIP data, cabinet reshuffle key for markets: Experts 

Inflation data for October, industrial output numbers for September, quarterly earnings of blue-chips such as Tata Motors, ONGC and SBI, as also the first reshuffle of the Union Cabinet would dictate the stock markets trend this week, say experts.

  

 US Federal Reserve ends QE stimulus programme

The Fed said it was confident the US economic recovery would continue, despite a global economic slowdown.The targets for inflation and reduction in unemployment were on track, the Fed said in a statement.

The central bank, which also said it would not raise interest rates for a "considerable time", has gradually cut back QE since last year.

  More pain ahead for Indian banks as bad loans pile up

India's state-owned banks warned growth in bad loans may continue into next year as they posted a rise in troubled loans for the September quarter with a weakening economy causing debt-laden sectors such as infrastructure to default on payments.

  Government in final stages of talks with states on GST: Jaitley

Hinting that amendments to the Goods and Services Tax (GST) may be introduced in the ensuing winter session of Parliament, Finance Minister Arun Jaitley today said that the government was in the final stages of talks with states on the issue.

“I am in the last stage of my discussion with the states on the eve of Parliament session before introducing the amendments to the GST law in Parliament,” Jaitley said at the India Global Forum meeting here.

  RBI says 'long way' to go before inflation eases

India's inflation has a "long way" to go before it eases because of high input costs, while the reasons for elevated food price inflation remain "structural," Reserve Bank of India Deputy Governor H.R. Khan said on Friday.

  Textile Industry Holds Potential to Lead ‘Make In India’ Campaign

World's second largest producer of cotton and silk is also the second largest textile manufacturer. India, the story that is waiting to be told on the world forum will soon turn into the biggest success India has even seen after IT, provided the 'Make in India' campaign gives it the much needed fillip.

 

 OPINION

  Just too taxing

On September 25, Prime Minister Narendra Modi kicked off the ‘Make in India’ campaign in the presence of a large number of business leaders.

   Clearly tax policy will play an important role if we want to attract big-ticket investments. After the not-so-happy experience of several large taxpayers in the last few years, the new government responded by announcing a number of positive measures (for example, use of inter-quartile range to calculate arm’s length pricing under transfer pricing provisions instead of arithmetic mean) in its first Budget.

SLIDESHOW

Click on the slide show below to have a better view of The 10 Most Competitive Economies in the World For 2013

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VRITTAM (27 OCT 2014 - 03 NOV 2014)

VRITTAM  (27 OCT 2014 - 03 NOV 2014)

THE WEEKLY FINANCIAL NEWS

NBFCs brace for tougher norms from RBI

Ahead of the new framework for non-banking finance companies (NBFCs) expected by the end of this month, the central bank has been slowly tweaking norms for them, signalling tighter regulation on cards. Analysts said the Reserve Bank of India (RBI) has quietly put in place small changes during the current fiscal year, creating a more level playing field between NBFCs and banks—which often do the same kind of business but are subjected to different regulations.

Read more at: http://www.livemint.com/Industry/VBQwACJCYFoqCFESalqF4I/NBFCs-brace-for-tougher-norms-from-RBI.html?utm_source=copyAhead of the new framework for non-banking finance companies (NBFCs) expected by the end of this month, the central bank has been slowly tweaking norms for them, signalling tighter regulation on cards. Analysts said the Reserve Bank of India (RBI) has quietly put in place small changes during the current fiscal year, creating a more level playing field between NBFCs and banks—which often do the same kind of business but are subjected to different regulations. 

NBFCs brace for tougher norms from RBI

Read more at: http://www.livemint.com/Industry/VBQwACJCYFoqCFESalqF4I/NBFCs-brace-for-tougher-norms-from-RBI.html?utm_source=copy

NBFCs brace for tougher norms from RBI

Read more at: http://www.livemint.com/Industry/VBQwACJCYFoqCFESalqF4I/NBFCs-brace-for-tougher-norms-from-RBI.html?utm_source=copy

Ahead of the new framework for non-banking finance companies (NBFCs) expected by the end of this month, the central bank has been slowly tweaking norms for them, signalling tighter regulation on cards. 

Analysts said the Reserve Bank of India (RBI) has quietly put in place small changes during the current fiscal year, creating a more level playing field between NBFCs and banks—which often do the same kind of business but are subjected to different regulations.

 Government modifies selection process for public bank heads

The government has modified the selection process for the appointment of heads of state-run banks and will conduct interviews for these posts on 13 and 14 November. Each candidate will have to be independently evaluated by three sub-committees having two members each. 

The financial services secretary, a deputy governor from the Reserve Bank of India and four independent members will be a part of these sub-committees.

 Brazil central government posts unexpectedly big primary deficit
Brazil’s budget deficit unexpectedly widened to a record in September, prompting the government to say it won’t meet its fiscal target as a possible credit downgrade looms. Swap rates rose. 

NBFCs brace for tougher norms from RBI

Read more at: http://www.livemint.com/Industry/VBQwACJCYFoqCFESalqF4I/NBFCs-brace-for-tougher-norms-from-RBI.html?utm_source=copy

 China slowdown to bruise global economy

China's roaring economy for years has pulled much of the rest of the world with it, soaking up oil, iron ore and other commodities from developing countries and autos and luxury goods from Europe.

But its role as a global engine is fading as its economy slows and many other nations, in the view of economists, will feel the pain. A survey of 30 economists has found that 57 per cent of them expect China's decelerating economy to restrain growth in countries from Brazil and Chile to Australia and South Korea.

 India Inc.’s sales slow, but profits rise in Sept quarter

 Eurozone inflation edges up to 0.4%
The flash inflation figure of 0.4% for October was up from 0.3% in September, Eurostat said.
The services sector was the biggest influence on the rise, showing an increase of 1.2% compared with a 1.1% rise in September.

The eurozone's unemployment rate remained unchanged at 11.5% in September compared with August.

 Banks may be forced to boost reserves
The Bank of England wants to reduce the chances of banks needing taxpayer bailouts.
The Bank said that the level of reserves compared to loans could rise from 3% to 4.95% from 2019.

That means banks would need to hold £1 of capital for every £20 they lend, compared with £1 for every £33 today.

 OPINION

Will Wall Street Love Fracking as Oil Prices Fall?
In a ballroom at the Dallas Ritz-Carlton in September, Aubrey McClendon told an investor conference that since leaving Chesapeake Energy last year to start his own company, American Energy Partners, he’s raised an average of $1.6 million an hour. Laughter swept the crowd. McClendon then put up a slide covered with the logos of Wall Street backers that have collectively handed his outfit $13 billion. Among them: KKR, BlackRock and Apollo Global Management. “Everybody here knows that capital is more easily accessed today than probably at any other point in your careers,” McClendon said.  


SLIDESHOW
Click on the slideshow below to have a better view of Ten Sectors that are boosting American Economy

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VRITTAM (06 OCT 2014 - 12 OCT 2014)

VRITTAM  (06 OCT 2014 - 12 OCT 2014)

THE WEEKLY FINANCIAL NEWS

Govt must slash spending by Rs 1 trillion to meet fiscal target: Barclays

The government will have to cut expenditure by up to Rs 1 lakh crore in the remaining part of the fiscal if it is to meet the budgeted fiscal deficit target of 4.8 per cent, foreign brokerage Barclays has said. 

During the April-November period, fiscal deficit touched as much as 94 per cent of the budgeted target. 

Banks as insurance agents: Irda to meet CEOs to frame rules

The Insurance Regulatory Authority of India (Irda) has convened a meeting of the chief executives of all insurance companies next week to put the necessary framework and facilitate the smooth entry of banks to act as insurance brokers.
The new policy will allow banks to sell policies of more than one insurer. Currently, banks are allowed to sell products of one life and one non-life insurance company as a corporate agent.  

China’s Zhou Says Some Countries Using Yuan in Reserves

Some countries are already using the Chinese yuan in their foreign-currency reserves without announcing it publicly, central bank governor Zhou Xiaochuan said.
While China’s yuan has begun to be used as a reserve currency for several years, some countries “may not be willing to say so,” Zhou told Bloomberg on the sidelines of the International Monetary Fund meetings in Washington. 

Fed Aim Off Target as Inflation Descends Near Danger Zone

Federal Reserve officials are hunting for new tactics to raise price increases to their target as slowing global growth, cheaper commodities and flat wages sound warnings that inflation is descending toward the danger zone.
The Fed needs a clear strategy for getting the inflation rate higher after falling short of its 2 percent target for 28 consecutive months. 

New Delhi: Norway-based Telenor ASA, which owns 74% in Telewings Communications Ltd that runs the brand Uninor, will complete the acquisition of the remaining 26% stake worth around Rs.780 crore by autumn, Telenor’s chief executive Jon Fredrik Baksaas said on Friday. This 26% stake is owned by Sun Pharmaceutical Industries Ltd executive director Sudhir Valia-promoted Lakshdeep Investments and Finance Pvt. Ltd. Uninor, which has 41 million subscribers, provides prepaid services on the GSM technology platform in Uttar Pradesh west and east, Bihar, Jharkhand, Andhra Pradesh, Maharashtra and Gujarat. Of these, around 20% are regular Internet users, which the company hopes to take up to 50% by 2017.

Read more at: http://www.livemint.com/Companies/5vCme49Hz5zZMEbPGTtcoL/Telenor-to-buy-remaining-stake-in-Uninor-soon.html?utm_source=copy

New Delhi: Norway-based Telenor ASA, which owns 74% in Telewings Communications Ltd that runs the brand Uninor, will complete the acquisition of the remaining 26% stake worth around Rs.780 crore by autumn, Telenor’s chief executive Jon Fredrik Baksaas said on Friday. This 26% stake is owned by Sun Pharmaceutical Industries Ltd executive director Sudhir Valia-promoted Lakshdeep Investments and Finance Pvt. Ltd. Uninor, which has 41 million subscribers, provides prepaid services on the GSM technology platform in Uttar Pradesh west and east, Bihar, Jharkhand, Andhra Pradesh, Maharashtra and Gujarat. Of these, around 20% are regular Internet users, which the company hopes to take up to 50% by 2017.

Read more at: http://www.livemint.com/Companies/5vCme49Hz5zZMEbPGTtcoL/Telenor-to-buy-remaining-stake-in-Uninor-soon.html?utm_source=copy

New Delhi: Norway-based Telenor ASA, which owns 74% in Telewings Communications Ltd that runs the brand Uninor, will complete the acquisition of the remaining 26% stake worth around Rs.780 crore by autumn, Telenor’s chief executive Jon Fredrik Baksaas said on Friday. This 26% stake is owned by Sun Pharmaceutical Industries Ltd executive director Sudhir Valia-promoted Lakshdeep Investments and Finance Pvt. Ltd. Uninor, which has 41 million subscribers, provides prepaid services on the GSM technology platform in Uttar Pradesh west and east, Bihar, Jharkhand, Andhra Pradesh, Maharashtra and Gujarat. Of these, around 20% are regular Internet users, which the company hopes to take up to 50% by 2017.

Read more at: http://www.livemint.com/Companies/5vCme49Hz5zZMEbPGTtcoL/Telenor-to-buy-remaining-stake-in-Uninor-soon.html?utm_source=copy

Indian firms’ quarterly earnings to rise, but at a slower pace 

Revenues and earnings of Indian companies are expected to rise marginally in the second quarter of fiscal year 2015 (Q2 FY15), with analysts expecting the recovery to be more broad-based than in the recent quarters. 

 Estimates of net profit growth for the 30 Sensex companies in Q2 of FY15 range from 8-10%, based on brokerage estimates released ahead of the earnings season, which kicks off later this week. 

India Official: RBI and Government Will Cooperate on Inflation

Markets and investors should not worry about the Indian government’s attempts to have more of a say in the Reserve Bank of India’s monetary policy, said Indian Finance Secretary Arvind Mayaram.During a visit to the U.S. this week, Mr. Mayaram—the Indian finance ministry’s top bureaucrat—dismissed fears that a new proposed monetary-policy framework will spur a clash between the government and the central bank. New Delhi and the RBI in Mumbai are trying to revamp the way monetary policy is set.

India’s Inflation May Ease To New Lows In September

NEW DELHI—A broad-based decline in prices of most commodities is expected to have pushed India’s inflation down to record lows last month, a survey of economists shows.
The country’s consumer inflation rate is likely to fall to 7.10% in September from 7.80% in August, according to a poll of 15 economists by The Wall Street Journal. If the estimate is met, it will be the lowest reading since the government introduced the current series.

Telenor to buy remaining stake in Uninor

New Delhi: Norway-based Telenor ASA, which owns 74% in Telewings Communications Ltd that runs the brand Uninor, will complete the acquisition of the remaining 26% stake worth around Rs.780 crore by autumn, Telenor’s chief executive Jon Fredrik Baksaas said on Friday. This 26% stake is owned by Sun Pharmaceutical Industries Ltd executive director Sudhir Valia-promoted Lakshdeep Investments and Finance Pvt. Ltd. 
Uninor, which has 41 million subscribers, provides prepaid services on the GSM technology platform in Uttar Pradesh west and east, Bihar, Jharkhand, Andhra Pradesh, Maharashtra and Gujarat. Of these, around 20% are regular Internet users, which the company hopes to take up to 50% by 2017.

Telenor to buy remaining stake in Uninor soon

Read more at: http://www.livemint.com/Companies/5vCme49Hz5zZMEbPGTtcoL/Telenor-to-buy-remaining-stake-in-Uninor-soon.html?utm_source=copy

Telenor to buy remaining stake in Uninor soon

Read more at: http://www.livemint.com/Companies/5vCme49Hz5zZMEbPGTtcoL/Telenor-to-buy-remaining-stake-in-Uninor-soon.html?utm_source=copy

Telenor to buy remaining stake in Uninor soon

Read more at: http://www.livemint.com/Companies/5vCme49Hz5zZMEbPGTtcoL/Telenor-to-buy-remaining-stake-in-Uninor-soon.html?utm_source=copy

 OPINION

Will China deliver the next financial crisis? 

Will China be the source of the next global financial disaster? The evidence increasingly offers reason for concern, though the nature of any calamity could be very different from what the world endured in 2008. At a time when consumers and governments in the US and Europe have been trying—with limited success—to pare down or at least stabilize their debt burdens, China has been doing the opposite. Over the past five years, it has pumped more than $13 trillion of credit into its economy, in an effort to keep its growth rate up amid a weak global recovery.

SLIDESHOW
Click on the slideshow below to have better view of  GVK surges over 3% on $10-billion Australian deal

Will China be the source of the next global financial disaster? The evidence increasingly offers reason for concern, though the nature of any calamity could be very different from what the world endured in 2008. At a time when consumers and governments in the US and Europe have been trying—with limited success—to pare down or at least stabilize their debt burdens, China has been doing the opposite. Over the past five years, it has pumped more than $13 trillion of credit into its economy, in an effort to keep its growth rate up amid a weak global recovery.

Read more at: http://www.livemint.com/Opinion/d9W7PCoOAXOWCKFgya8b1O/Will-China-deliver-the-next-financial-crisis.html?utm_source=copy

Revenues and earnings of Indian companies are expected to rise marginally in the second quarter of fiscal year 2015 (Q2 FY15), with analysts expecting the recovery to be more broad-based than in the recent quarters. Estimates of net profit growth for the 30 Sensex companies in Q2 of FY15 range from 8-10%, based on brokerage estimates released ahead of the earnings season, which kicks off later this week.

Read more at: http://www.livemint.com/Companies/7ajK1StM0norw48PDFKS9M/Indian-firms-quarterly-earnings-to-rise-but-at-a-slower-pa.html?utm_source=copy

Revenues and earnings of Indian companies are expected to rise marginally in the second quarter of fiscal year 2015 (Q2 FY15), with analysts expecting the recovery to be more broad-based than in the recent quarters. Estimates of net profit growth for the 30 Sensex companies in Q2 of FY15 range from 8-10%, based on brokerage estimates released ahead of the earnings season, which kicks off later this week.

Read more at: http://www.livemint.com/Companies/7ajK1StM0norw48PDFKS9M/Indian-firms-quarterly-earnings-to-rise-but-at-a-slower-pa.html?utm_source=copy

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