NEWS 10-05-2010

IMF approves 30 billion euro loan for Greece
The Greek bailout package is the biggest in history and comes with stringent conditions that include a combination of spending cuts and revenue increases.

The End of the Euro
A single monetary policy would likely amplify, rather than diminish, the fundamental differentials between highly productive Germany and the less efficient periphery.

Germany,France want more supervision to prevent another crisis

They called upon their euro zone partners to consider reinforcing fiscal surveillance within the euro area, including a provision for more effective sanctions against those members who repeatedly violate the group's stability criteria.


Euro crisis may trip fundraising plans
"Conditions are not stable. Valuations are not forthcoming. Institutional investors are driving a hard bargain. The euro crisis makes the job difficult. It will impact world markets, including India."


Obama: Strong U.S. economy will lead to strong dollar
"My basic principle is to focus on the fundamentals of the economy. I think that if we have a strong U.S. economy we're going to have a strong dollar,"

Has Gold become a new reserve currency?
The price of gold rose to $1,210 an ounce on Friday.  The terms "flight to quality" and "safe haven" are increasingly being used for the precious metal as investors flee all of the major global paper currencies.


New inflation basket to have 676 items
"The existing series has some obsolete items. They will not figure in the new series," the official added.

The next decade belongs to India: Deepak Parekh

 "I am not saying that everything is gung-ho and there are no problems. We have enough problems which we need to tackle, but we are the second fastest growing nation for the last so many years."

Ambani gas war: Blow to Anil, order favours Mukesh
"The Supreme Court verdict upholds the fact that gas belongs to the government and the people. No matter what campaign one ran against the government, the nation is supreme."


Govt may tweak gas policy to power Anil's Dadri plant
Reliance Power’s proposed 7,480 mw Dadri project is the single-largest gas-based power plant at a single location in the world. 


Reliance producing 60-63 mmscmd gas from KG Basin
Reliance Industries is currently producing 60-63 million metric standard cubic metres a day (mmscmd) of natural gas from its field in the Krishna-Godavari basin


K-G gas fully sold for five years
There is an unallocated quota of 10 mscmd gas which is meant for use by captive power plants if the production goes up. RIL’s gas production is not expected to exceed 80 mscmd till eight years.


Maruti asks component suppliers to reduce costs
But, if we don’t go for a reduction and raw material prices go up and the foreign exchange regime is not in our favour, the total impact would mean the cost of the car would go up and so could prices.”

S&P rating on Infosys to 'BBB+'; outlook stable

"We expect Infosys to register a 15% revenue growth, with revenue of more than USD 5.5 billion in the fiscal year ending March 31, 2011, as the global economy improves and companies globally further outsource IT functions," said Standard & Poor's credit analyst Suzanne Smith. In addition, we expect growth to continue to be 10%-15% in the next four to five years.

Fertiliser cos in JV talks with global firms
Several Indian fertiliser companies are in talks with foreign firms to set up production units jointly, the government said.


Cipla To Buy 2 Facilities For Rs 82Cr
The formulations manufacturing facility at Sikkim, with capabilities in tablets, capsules, oral liquids, injections, liquid and ointments/creams, will be bought for Rs 51.38 crore. The facility is eligible for a 10-year tax holiday under the Income Tax Act, 1961 commencing from 2009-10.