Friday, January 15, 2010

NEWS @ 15-01-2010

The Guy Who Called The Lost Decade For Stocks Just Told Us We're Now Set For A Decade Of Slow Growth
“I have a pretty optimistic view of things, and a faith in the ability of America to recover," he said. "The market will grow with the country, around two to three percent a year. In ten years we’ll be between Dow 15,000 and 20,000.”

Economies will find the painful process of deleveraging harder than in previous crises because of the global nature of this one, according to a new report from management consultants McKinsey.

If the economy rebounds, commodities prices will rise because of increased demand, while if the economy continues to be weak, central banks will keep printing money and commodities will be used as a hedge against inflation, he explained ...

Noting that India has quickly regained growth momentum, the bank said the country has emerged from the global financial crisis relatively unscathed, mainly on account of stimulus measures, past reforms, robust domestic consumption and banks' limited exposure to the global financial system ...

Financial markets have factored in an increase in the cash reserve ratio (CRR) of 25 to 50 basis points. Bankers believe that the hike is unlikely to tighten liquidity, primarily due to the large portfolio inflows ...

Global rating agency Fitch warned that NPAs of banks were likely to go up by 1%. The report has made specific reference to restructured loans, saying that credit worth Rs 30,000 crore in this category alone could turn bad by next year when two-thirds of them are expected to mature. ...

Total income rose to Rs 4,433.39 crore for the third quarter, against Rs 3,513.3 crore in the same period last year ...

On procurement of gas, Sharma said NTPC has already organised linkage of 15.5 million standard cubic meters a day (mscmd) of gas against an estimated requirement of 16.4 mscmd in 2011-12. "NTPC has signed gas supply agreements with GAIL for gas supply up to 2021 ...

NTPC, India's largest utility, said on Thursday its follow-on public offer of 412.27 million shares, or 5 percent in the company, will open on February 3 and close on February 5 ...

Reliance Communications plans to sell a 10 per cent stake in the unit, Reliance Infratel, and sources have said the share sale could rise up to $1 billion ...

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