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

[Palash]

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.
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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

More >>

News By Industry
Govt announces scholarship schemes worth over Rs 3,000 cr
Apollo, IGNOU to offer 45 health-related courses in India
RIM looking at manufacturing and logistics operations in India

More >>

Economy
India can export 8,424 tons raw sugar to US under TRQ
Cabinet approves bilateral labour agreement with Bahrain
Oil prices rally beyond $102

More >>

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

More >>

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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this
Run batted in - Wikipedia, the free encyclopedia
Run batted in or RBI is a statistic used in baseball, softball and
dartball to credit a batter when the outcome of his at-bat results in
a run being scored, ...
en.wikipedia.org/wiki/Run_batted_in - 30k - Cached - Similar pages -
Note this
Reserve Bank of India
Presents history and exhibits of coinage, paper currency, and
financial instruments of ancient and contemporary India.
www.museum.rbi.org.in/ - 25k - Cached - Similar pages - Note this

The Money Times Where RBI go to die
Washington Times, DC - 38 minutes ago
The team's RBI leader at this moment is Jesus Flores, with 59. And as
you know, Flores is out for the rest of the year with a sprained
ankle, ...
Dukes helps Nats top NL East-leading Mets Sports Network
Dukes Blasts Home Run As Nationals Rock Reeling Mets AHN
MLB: Washington 7, NY Mets 2 United Press International
all 53 news articles »

IDBI Bank seeks RBI approval for Rs 1500-cr PE fund
Business Standard, India - 22 hours ago
The bank has sought permission from the Reserve Bank of India (RBI)
again to foray into the segment and is targeting a corpus of Rs
1000-1500 crore for its ...
IDBI seeking to convert Rs 2130 cr bonds Sify
all 4 news articles » BOM:500116


Sify Rupee sell-off by RBI is overdone: Goldman Sachs
Sify, India - 9 hours ago
Tushar Poddar, Vice President, Asia Economics Research at Goldman
Sachs, said in a statement, “The RBI’s steps to ease liquidity are a
significant change in ...
RBI`s intervention a positive move: Goldman Sachs Myiris.com
all 2 news articles »


The Associated Press A-Rod passes Ruth with 12th 35 HR-100 RBI season
The Associated Press - 12 hours ago
NEW YORK (AP) — Alex Rodriguez became the first player with 35 homers
and 100 RBIs in 12 seasons — one more than Babe Ruth — and the New
York Yankees slowed ...
Yankees Down White Sox Behind Damon and A-Rod's Homers Bleacher Report
all 170 news articles »


BBC News India's Tata Motors offered new site for Nano car plant
AFP - 3 hours ago
MUMBAI (AFP) — Tata Motors said Thursday it has been offered another
site in India for its factory to mass produce the world's cheapest car
after protests ...
India's Tata Motors says state offers home for Nano Reuters
Tata Motors Gets Land Offer From Karnataka State for Nano Plant
Bloomberg
Tata Motors offered land for Nano project in Karnataka (Lead) SINDH
TODAY
Hindu - Wall Street Journal
all 259 news articles » BOM:500570


Visit Bulgaria India's Stocks: Jindal Stainless, Ranbaxy Labs, Tata
Motors
Bloomberg - 10 hours ago
Tata Motors Ltd. (TTMT IN) fell 11.55 rupees, or 2.8 percent, to
406.25. The eastern state of West Bengal has turned down a demand to
return land acquired ...
Mkts tumbled led by Unitech, ICICIBk, Sterlite, Ranbaxy
Moneycontrol.com
Sensex provisionally ends up 0.14 percent Express Buzz
Indian shares extend losses on continued global credit crisis worries
Hemscott
Bloomberg - Bloomberg
all 87 news articles » BOM:500570 - BOM:500359 - BOM:532174


Voice of America Sterlite slumps 8%; Tata Motors up 4.8%
Business Standard, India - 17 Sep 2008
Tata Motors surged 4.8% to Rs 418. ONGC advanced 2.8% at Rs 979. Wipro
gained 2% at Rs 399. ACC was up 1.7% to Rs 592. Infosys, Maruti and
Mahindra ...
Sensex, Nifty stage a minor recovery; SBI,Tata Motors rally @ 13 ...
Sify
Sensex, Nifty stage a smart recovery; Bears throng India Bulls ...
Sify
Sensex tumbles, loses 361 pts; ICICI Bank plunges 9.55% @ 13:35 hrs
Sify
Sify - Sify
all 246 news articles » BOM:500570 - BOM:500112 - BOM:500180


Fresh News Tata Motors backs new Singur package
Business Standard, India - 14 Sep 2008
The world’s cheapest car, the Nano, may still roll out from Singur
with Tata Motors today expressing hope that the West Bengal
government’s new ...
Tata Motors hails Govt's rehabilitation initiative Hindu
Tata Motors Hopes Nano Car Project Dispute Will Be Resolved Bloomberg
Tata Motors denies moving Nano components to Pune Economic Times
Times of India - Hindu Business Line
all 466 news articles » BOM:500570

Tata Motors new showroom in Vishakhapatnam
Wheels Unplugged - Indis'a Automobile Magazine, India - 17 Sep 2008
Siva Sankar Motors, one of the leading automobile dealers in
Vishakhapatnam, has forged an alliance with Tata Motors by opening a
showroom at Autonagar. ...BOM:500570


Energy Bangla Tata Ace CNG Pickup Launched in Bangladesh
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: in...@nfia-india.com W: www.nfia-india.com
...
www.nfia.com/nfia_india.html - 6k - Cached - Similar pages - Note this
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) ...
india.nlembassy.org/netherlands_foreign - 17k - Cached - Similar pages
- Note this
Investment Promotion Agencies in India
Investment Promotion Agencies in India. Foreign Investment Promotion
Board (FIPB) · Secretariat of Industrial Assistance · The Indian
Investment Centre ...
nmcc-vikas.gov.in/RelatedLinks/Pages/
InvestmentPromotionAgenciesinIndia.aspx - 47k - Cached - Similar pages
- Note this
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 ...
www.teamorissa.org/fdi.asp - 39k - Cached - Similar pages - Note this

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 ...


New! Get the latest news on IIM with Google Alerts.



Searches related to: IIM indian institute indian institute of
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obc arjun singh iit



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 ...
finance.indiamart.com/investment_in_india/upcoming_foreign_banks.html
- 32k - Cached - Similar pages - Note this
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.
www.iloveindia.com/finance/bank/foreign-banks/index.html - 22k -
Cached - Similar pages - Note this
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 ...
www.rediff.com/money/2007/dec/08guest1.htm - 36k - Cached - Similar
pages - Note this
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 ...
economictimes.indiatimes.com/News/Economy/Finance/
Foreign_banks_expect_RBI_to...in.../3456420.cms - 39k - Cached -
Similar pages - Note this
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. ...
www.unpan.org/Regions/Europe/PublicAdministrationNews/tabid/116/mctl/ArticleView/ModuleID/.../Default.aspx
- 95k - Cached - Similar pages - Note this


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, ...

Cached - Similar pages - Note this
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, ...
www.prlog.org/10115921-santa-and-his-fire-truck-are-for-hire-in-tampa-with-old-cracker-fire-company.html
- 27k - Cached - Similar pages - Note this
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 ...
www.hinduonnet.com/2001/07/19/stories/0619000a.htm - 13k - Cached -
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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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- Note this
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 ...
www.thehindubusinessline.com/2004/10/05/stories/2004100502930400.htm -
24k - Cached - Similar pages - Note this
Hire Me? Fire Me! Hired Myself: Hired Myself : how to Make the ... -
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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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