VRITTAM (06 OCT 2014 - 12 OCT 2014)
THE WEEKLY FINANCIAL NEWS
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.
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.
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
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 rulesThe 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
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
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
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.
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
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
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
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
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
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
Read more at: http://www.livemint.com/Companies/7ajK1StM0norw48PDFKS9M/Indian-firms-quarterly-earnings-to-rise-but-at-a-slower-pa.html?utm_source=copy
