2. India, China may face economic downturn in coming
months: OECD
India and China, besides some developed
countries, may face economic downturn in the
coming months, according to an analysis by
OECD (Organisation for Economic Cooperation
and Development) -- a grouping of mostly
advanced nations.
CWG: India create athletics history as Poonia
wins gold
Breaking the 52-yr-old CWG record, Krishna
Poonia became the first woman from the country
to win a gold in a discus throw event. India swept
the event with Harwant Kaur and Seema Antil
winning the silver and bronze.
3. Pfizer will buy King Pharmaceuticals for $3.6bn
Pfizer Inc, the world's largest pharmaceutical company by revenue, said
Tuesday it will buy pain drug maker King Pharmaceuticals Inc. for $3.6
billion in cash.
India competes with China, Europe for growing African
market
Indian industry is implementing a strategy to compete with China and
European countries for capturing markets in growing African
economies, particularly in East Africa.
China overtakes US as biggest energy consumer: IEA
China has become the world's largest energy user, having overtaken the
United States, the head of the International Energy Agency said on
Tuesday.
4. Coal India to raise Rs 15,000 cr
from largest ever Indian IPO
The government will
raise up to $3.5 billion
from a price band of
Rs 225 to Rs 245 for
state-run Coal India's
initial public offering.
It is the largest in the
country's corporate
history. The
government is selling
631.6 million shares, or
10 percent stake in the
world's largest coal
miner.
Longer stay in India
to increase NRIs' tax
liability
Under DTC, if an NRI's
stay in India exceeds 60
days during a year and
365 days for the past
four tax years, then they
may be considered as
residents of India.
5. The US dollar fell against most currencies on Wednesday after
minutes from a Fed meeting released the previous day reinforced
expectations of more monetary easing in US.
Dollar slips on Fed view; euro fails to hold $1.40
J P M organ Chase on Wednesday reported its profits rose 23
percent in the third quarter on better performance by its retail banking
arm.
JP Morgan quarterly profit up 23 percent
The B S E's benchmark S ensex jumped 484 points to close at a
fresh 33-month high on sustained capital flows amid firm global cues.
The IT sector index rose the most by 3.15% followed by Teck's 2.72%
rise.
Sensex surges 484 points, highest in 6
months
6. India's external debt rises
to $273.1 bn
India's external debt rose 4.1 percent or $10.8 bn to $273.1 bn in the first
quarter of current fiscal due to a sharp increase in short-term trade
credits , commercial borrowings and multilateral government borrowings.
The short-term debt increased by $5.4 bn to $57.8 bn, accounting for
21.2 percent of the total debt, while the long-term debt rose to $215.2
bn at the quarter ended June 30.
The share of commercial borrowings continue to be the highest at
27.3 percent in the total external debt followed by short-term debt
(21.2 percent), NRI deposits (17.6 percent) and multilateral debt
(16.4 percent).
7. Wall Street rises 1 percent on Fed bets, China
The three major U.S. stock indexes gained 1
percent on Wednesday on rising expectations
the Federal Reserve will move to prop up the
economic recovery.
U S trade deficit jumps to 46.3 billion dollars
in August
The US trade deficit jumped to 46.3 billion
dollars in August, much worse than expected,
as the gap with China hit a new record.
The Commerce Department reported total
August exports of 153.9 billion dollars,
eclipsed by 200.2 billion dollars in imports of
goods and services.
The deficit widened from a revised July deficit
of 42.6 billion dollars, initially reported at 42.8
billion dollars.
8. India stood on position 2 in CWG 2010
India climbed all the way to the
Number 2 position on the
medals chart, clinching 38
gold, 27 silver and 36 bronze.
US economy is now
growing: Obama
As a consequence of the
steps taken by his
Administration, US
President Barack Obama
said that the US economy is
now growing and more jobs
are now being created,
although there is a long way
to go.
Russia agrees to build
nuclear plant in Venezuela
Venezuelan President Hugo
Chavez reached a deal with
Russia on Friday to build a
nuclear power plant in the
South American country
and negotiated several other
agreements in energy and
other areas.
9. GM recalls 322,000 Chevrolet Imapalas for
faulty seat belt
B ritain's six largest banks will start a 1.5
billion-pound ($2.4 billion) fund to help
smaller companies to get financing after
the government threatened to curb
bonuses unless firms boost lending.
F ord Motor Co plans to sell almost all of
its remaining stake in Mazda Motor Corp
as it distances itself from the Japanese
automaker it once controlled, a source with
knowledge of the matter said on Saturday.
