Tuesday, April 7, 2009

NEWS @ 07-04-2009

China stimulus to sustain Asia’s growth: World Bank
Growth in the economies of east Asia and the Pacific will slow this year because of the financial crisis but China’s multi-billion dollar stimulus will secure their status as the world’s fastest growing region ...

Barry Eichengreen and Kevin O’Rourke have an alarming paper in Vox EU, showing that if you take a global view, the world slump since early 2008 is as bad or worse than the slump from 1929-30 ...

Japan’s central bank unveiled new steps to spur lending and its counterpart in Australia cut its benchmark interest rate to the lowest in nearly half a century ...

Promises, promises. The last time world leaders pledged not to take protectionist measures during the financial crisis, 17 of the 20 signatory nations imposed some form of trade restriction within two months ...

Reserve Bank of India governor D Subbarao hinted that banks were not responding to monetary policy signals by refusing to cut lending rates ...

Monetisation of the fiscal deficit is not high on RBI’s agenda. The central bank will have to taken into account the long-term and the short-term consequences of monetisation ...

India is expected to see the highest salary increases among nations in the Asia-Pacific region, of around 10.8 per cent this year, due to the huge demand for talent in the country ...

India along with Japan and China is among the top five countries in the Asia-Pacific region with the highest number of merger and acquisition deals in the first three months of this year ...

The mutual fund industry has suffered an erosion of a whopping Rs 1 lakh crore during the month of March alone due to huge redemptions from banks and institutional investors in liquid and money market funds ...

Markets have had a great upmove and are now close to levels where trend reversal cannot be ruled out says, Kotak Securities ...

When Moser Baer, the world’s second-largest manufacturer of compact discs, bought back foreign currency convertible bonds worth $51 million ...

In a move that could open the doors for more imports and ward off allegations that India is ‘protectionist’, the government is considering a proposal to gradually phase out the 5% import duty on iron and steel ...

Tata Steel, a leading steel maker of the country, today said its production surged by nearly 14% to 6.25 million tonnes in 2008-09 fiscal on the back of robust ...

Fitch Ratings has today commented in "Indian Infrastructure Outlook for 2009 - An Eventful Journey Ahead", that its analysis of the default risk while assigning new National Ratings to infrastructure project loans ...

Mahindra Yueda Yancheng Tractor Company, the joint venture between Mahindra & Mahindra and China-based Yueda Group, was inaugurated in China. The joint venture company rolled out its 125 HP tractor ...

In line with the global trend on technology spending, chief information officers (CIOs) of Indian companies are refraining from big-ticket investments in building new IT capacities ...

Mittal group will exit an oil and gas exploration project it was developing with state-run ONGC in Trinidad and Tobago ...

Essar Oil Ltd, is close to buying a 50% stake in Kenya Petroleum Refineries Ltd, for about $450 million (Rs2,250 crore) after the Kenyan government dropped objections ...

Habil Khorakiwala, chairman of Wockhardt Ltd, has written to senior employees saying that the drug maker plans to divest stakes in units that are not central to its main business to overcome a cash crunch ...

Britannia Industries Ltd on Monday announced that its two promoters have agreed to a deal in which Groupe Danone SA of France will sell its 25.48% stake to the Mumbai-based Wadia group ...

With the economic slowdown, the broadcasting space has few tough quarters ahead and Mr Shantonu Aditya, Executive Director - UTV Global Broadcasting Ltd & CEO, UTVi, is not in a denial mode ...

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