Thursday, January 14, 2010

NEWS @ 14-01-2010

It won't hit us this year or next year. But within 5-10 years, the United States will be forced to quietly default on its debt, most likely by printing money and destroying the value of the currency ...

"JAN 29-31 = There are some hair-raising negatives, including a full moon conjoining Mars (God of WAR!) and Saturn square Pluto! This combination could bring more negative economic stats, and real possibilities for more war and/or terrorism."

Typically, volatility indices such as VIX and the prices of underlying financial assets move in opposite directions. The lower prices that investors pay to buy protection against volatility using NSE’s Nifty index options gets reflected in lower VIX levels, which at times could suggest that investors are getting complacent and the markets might be set for a correction ...

Bank credit soars by Rs 79,514 cr
According to the latest figures released by the Reserve Bank of India on Wednesday, bank credit rose by Rs 79,514.51 crore for the fortnight to Rs 30,20,807.58 crore. The growth is substantial considering the average credit offtake of Rs 21,000 crore in the past two fortnights ...

The increase in loan loss provisions on the new NPLs will impact banks as currently the existing provisions on these loans are only at 2 per cent. Another reason is that the Reserve Bank of India has made it mandatory for banks to have minimum provision coverage of 70 per cent on NPLs ...

Stephen Roach of Morgan Stanley, way back in February 2007, cautioned: “Central bankers under the gun have already helped deliver the strongest global expansion in thirty years and kept the lid on prices. If they wind up running politically compromised monetary policies, ultimately you get more inflation.

Punj Lloyd will install three compressor units for the Thai oil and gas firm's offshore platform in the Gulf of Thailand

In a move that will usher a Wi-Fi revolution in the country, Tata Communications Internet Services has tied up with Australia-based Wi-Fi zone solutions provider Tomizone to offer low-cost Internet to subscribers in India ...

The construction of the proposed network of 18,637 km of expressways in the country would cost more than $100 billion, according to a senior transport ministry official ...

Texmaco, which is part of the KK Birla group, along with its closest rival Titagarh Wagons, has been a key beneficiary of the Indian Railways plan to acquire 18,000 wagons in 2009-10 ...

India's 240-million-tonne cement industry has seen demand pick up in recent months after a strong revival in industrial and construction activity.

The drug companies, which raised over $2 billion (around Rs 10,000 crore) during the 2005-08 period to fund acquisitions and capital expansions, have now reduced the FCCB outstanding to $839.63 million (Rs 3,831 crore) as of today, according to data compiled by Business Standard Research Bureau.

Steel players in the country seem to be in no mood to take steel secretary Atul Chaturvedi's statement seriously. Chaturvedi on Monday said steel prices will fall in next 10-12 days on positive sentiments. However, steel giants told FE that steel prices will increase in tandem with rising raw material prices ...

We expect weighted average gains in base metal prices of 32.4% in 2010, driven by a strengthening industrial production cycle, with copper remaining our preferred exposure in this sector ...

Even at the lowest levels seen during the closing months of 2008, few genuine copper miners across the world experienced cash losses. It was very different for a number of other miners, which crashed deep into negative cash loss territory, with nickel, aluminium and diamonds among the most aggravated cases.

Weekly Crude Oil Report

Keith Schaefer believes that technology is creating huge opportunities for investors in oil and gas – horizontal drilling and fracking. The innovations will go global over the next decade as they are increasingly used around the world. Investors don’t realize how low the risk is now in oil & gas ...

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