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Titan Ropes in Katrina Kaif as Brand Ambassador
Amul to Open 10 Quick Service Restaurants by Fiscal Year-End
Citi Says India's Growth May be Below 8%: Monetary Tightening and Worsening Global Prospects May Slow Growth Further in Coming Quarters
Titan Ropes in Katrina Kaif as Brand Ambassador
Amul to Open 10 Quick Service Restaurants by Fiscal Year-End
Citi Says India's Growth May be Below 8%: Monetary Tightening and Worsening Global Prospects May Slow Growth Further in Coming Quarters
Titan Ropes in Katrina Kaif as Brand Ambassador
Amul to Open 10 Quick Service Restaurants by Fiscal Year-End
Citi Says India's Growth May be Below 8%: Monetary Tightening and Worsening Global Prospects May Slow Growth Further in Coming Quarters
Titan Raga ropes in Katrina Kaif as its brand ambassador Amul to open 10 quick service restaurants by this fiscal year-end BUSINESS Growth may be Employees are scared about their career in the current economic crisis –– Rajesh Kumar MyHiringClub.com CEO below 8%: Citi New Delhi, Oct. 6: India’s of abating despite slowing India is in a briefs economic growth is likely global demand and second- to remain below 8 per cent better place than ly, weakness in rupee, in the coming quarters which adds to inflationary ISB: SCHOLARSHIPS owing to aggressive mone- its Asian peers. woes,” the report said. tary tightening and wors- Positives for India “This puts the RBI in an UP TO `8 CRORES ening global prospects, Citigroup said in a include the unenviable position of bal- ancing slowing growth and New Delhi: The Indian research report. rising inflation,” Citigroup School of Business is plan- “Recently-released macro country’s low said. ning to double the total amount of student schol- and sectoral data indicate a clear slowdown in econom- exports to GDP The central bank has raised its key rates 12 times arships to `8 crore, as part ic activity,” Citigroup said, ratio in 18 months to control of efforts to lure good tal- adding that the “growth in inflation, with effective ent as well as provide the coming quarters will tightening at 500 bps. opportunities for wider likely remain in the sub-8 the United States. India is, somewhat, in a section of aspirants. “We per cent range and average The worsening global eco- better place than its Asian are planning to increase 7.6 per cent in FY’12.” nomic situation has taken a peers. the total amount of schol- India’s GDP growth toll on the domestic curren- Positives for India arships to `8 crore for stu- slipped to 18-month low of cy and equities. Moreover, include the country’s low dents of Class of 2013, 7.7 per cent in April-June higher deficits and peaking exports to GDP ratio, which runs from April 2012 quarter, the second consec- inflation is likely to further domestically financed fis- to March 2013. — PTI utive quarter of sub-8 per add to the burden, cal deficit, limited exposure AUSTRIAN President Pratibha Patil, along with her Austria counterpart, Mr Heinz Fischer, before a photo ses- sion with Indian business leaders during an Austrian-Indian Economic Forum meet in Vienna, cent growth. Citigroup said. to foreign liabilities, and a TDSAT DIVIDED OVER MEET Austria, on Thursday. — PTI “We expect this trend to continue due to lagged Over the last month, the rupee has weakened 7.3 per healthy banking system. However, in times of risk cent, and the BSE bench- aversion, India immediate- PLEA AGAINST ZEE effect of 500 bps of tighten- ing, structural policy mark Sensex has dropped ly comes on the radar due New Delhi: Broadcast tribunal issues, and worsening 3.98 per cent. The headline to its reliance on external MP DEFENDS Home loans see drop TDSAT is split on a decision prospects on the global inflation for August stood capital, Citigroup said. over a plea of a multi-system front,” the report added. at an uncomfortable 9.78 India’s April-July fiscal operator against the broad- caster Zee group and Media BHEL, WRITES TO The domestic economy had clocked 8.5 per cent per cent. “While we have been deficit stood at `2,288 bil- lion, compared to `909 bil- Pro Enterprises India regard- growth last fiscal, following expecting inflation to lion in the year-ago period. ing subscription, thereby ren- PRIME MINISTER which the government had remain elevated due to “Despite the announce- dering the parties confused. The TDSAT bench gave split orders over a petition of Digicable Network Ltd, which sought an interim injunction New Delhi, Oct. 6: Describing reports of Chinese power equip- ment being superior to of 15-20% per month first projected a 9 per cent growth in the Budget, but revised it downwards to 8.2 per cent after the worsen- ing of the Eurozone sover- higher minimum support prices of agricultural crops and continued upward revi- sions to past data; two fur- ther price pressures have ment of austerity mea- sures, we expect the gov- ernment to miss its deficit target due to both lower revenues and higher expen- ditures,” the report added. against Media Pro Enterprises those made by BHEL as eign debt crisis and the fear emerged, firstly commodity India, distributor of the Zee “shocking”, Rajya AGE CORRESPONDENT `15,000 crore per month demand from Hyderabad of a double-dip recession in prices have showed no sign — PTI and Star group of channels, Sabha member Tapan MUMBAI, OCT. 6 during the previous finan- has been impacted largely to not to disrupt singals. Sen has written to cial year to around `12,000 due to the political issues Prime Minister With the residential prop- crore per month now,” said prevailing in the state. — PTI INDO-PAK at a glance Manmohan Singh seek- ing to look into the issue as it maligns a erty prices remaining firm and domestic interest rate firming up further, fresh Mr Ashwini Kumar Hooda, managing director, India bulls Housing Finance Ltd. “Though there has been a contraction in demand of around 10-20 per cent in Demand for cheap MULTIPLE-ENTRY state-run entity. Mr Sen’s recent letter comes amid articles that a Planning home loan disbursement of financial institutions has taken a hit of almost 15-20 per cent per month in the According to Indiabulls has seen its him,
fresh home loan off-take
drop to `1,500 crore per Mumbai, the demand for home loans from the tier–2 and tier–3 cities are looking good,” said Mrs Rohini products a challenge VISAS FOR Commission report said that Chinese equipment current financial year. The RBI had hiked the key-lend- annum in Mumbai in the current financial year com- Upasani, general manager, State Bank of India (SBI), AGE CORRESPONDENT TRADERS: PAK is better than those ing rate for the 12th consec- pared to `2,000 crore the largest public sector CHENNAI, OCT. 6 AUTO INDUSTRY BANK OF INDIA manufactured Bharat by Heavy utive time to 8.25 per cent during the last 18 months achieved last year. Mr Hooda however said that lender on the sidelines of MCHI Property Expo 2011. The biggest challenge to the Calling for a greater polit- REZAUL H. LASKAR ISLAMABAD, OCT. 6
OPENS BRANCH Electricals.
According to Mr Sen, such a report is shock- in a bid to contain infla- tion. “The banks and finan- cial institutions have taken the home loan growth in other cities like Bengaluru and Chennai are seeing The slackening demand has however not resulted in a corresponding decline auto industry will come from the low-income con- sumers who will demand ical will to execute such projects with a vision, Mr Seshasayee highlighted India and Pakistan have agreed to solve visa prob- IN NEW ZEALAND ing and reflect deliber- ate “maligning and tar- a hit of 15-20 per cent from decent growth while the in property price. smart mobility products at cheaper price points. that a broad and compre- hensive public policy lems faced by businessmen of both countries by issuing Mumbai, Oct. 6: Public sec- nishing” the image of a “The growing aspirations framework was the need of multiple-entry visas valid tor lender Bank of India on government-owned of people to get a vehicle of the hour. for a year, Pakistani com- Thursday said it has company by an “author- their own, even with a low “Smart vehicle systems merce minister Makhdoom opened a branch in New ity appointed by the per capita income group, with better communica- Amin Fahim said on Zealand. same government”. will call for developing new tion, new dimensions of Thursday. The bank will offer its full Mr Sen pointed out products at a challenging pedestrian and driver safe- Both countries had range of retail banking that in 75 per cent of price points, said Mr R ty and sustainable solu- agreed on issuing multiple- products, including savings projects involving Seshasayee, executive vice- tions through effective use entry visas to traders dur- and current accounts, BHEL, the state-run chairman, Ashok Leyland. of alternative fuels are the ing his recent visit to India, cards, term and call company’s obligations This coupled with relent- three new dimensions of Mr Fahim told the media. deposits, mortgages and are limited to boilers, less rate of urbanisation the challenges of the auto All controversial issues international funds trans- turbines and genera- will call for smart mobility industry,” he said. between the two countries fers to its New Zealand cus- tors, which make up for solutions, which will call Reiterating the same will be discussed one by tomers, the bank said in a 40 to 45 per cent of total for confluence of technolo- thought, Mr Venu one, he said. statement. project work. gies, he said while speaking Srinivasan, CMD, TVS It had also been agreed “With trade increasing “In almost all those at the Asia Pacific Motor, said it was impera- during his visit that India between India and New projects, delay in com- Automotive Conference tive for the auto industry to will not oppose the World Zealand, it is the right time missioning, wherever it (APAC16), a three-day con- push for urban planning Trade Organisation waiver for Bank of India to estab- occurred, had been due ference organised by for a sustainable growth of sought by the European lish a presence in New to delay in those ‘rest of SAEINDIA in Chennai. the industry. Union for granting duty- Zealand,” Bank of India the activities’ for which “Auto industry is often a This called for a political free access for certain chairman and managing in no way BHEL can be whipping boy when it will and hence the auto goods from Pakistan, Mr director Alok Misra said. held responsible,” the comes to emission and pol- industry must join forces Fahim said. “The bank will also lever- letter said. lution. However, there is a with non-government Asked about Pakistan’s age on its expertise in The power equipment need for better urban plan- organisations working for invitation to Prime financing agriculture and giant is facing stiff com- ning with focus on pedestri- urban planning, he insisted Minister Manmohan Singh small businesses for the petition from private an safety, better parking “We cannot sell our prod- to visit the country, Mr benefit of its clientele in the players, especially and integrated multi-modal ucts if people cannot use Fahim said the invitation Pacific Ocean nation,” Mr Chinese entities such as DUSSEHRA A jeweller performs puja at his shop on the occasion of Dussehra in Thane on Thursday. — PTI public transport system to them (without good had been accepted but Misra said, adding the bank is now present in 19 coun- Shanghai Group. Electric — PTI PUJA decongest roads,” Seshasayee said. Mr roads),” Mr Srinivasan said. Venu dates for the visit will be decided later. — PTI tries across five continents. The bank has 29 foreign offices, in addition to three subsidiaries and interna- tional joint ventures, and almost 20 per cent of the bank’s business come from its overseas operations, it said. MOBILE HANDSETS TO BE COSTLIER New Delhi, Oct. 6: Prices of mobile hand- very low and companies will have to increase Indian families richer than Europeans cent) and Singapore (20 per While the Chinese, Indian — PTI sets marketed by home- price of their handsets,” New Delhi, Oct. 6: India and which have over $100,000 the top five countries grown companies are national president of China have overtaken investible funds. where the affluent have cent), this falls to around (1 and German affluent are set to increase by up to Indian Cellular Associ- European countries in the “India and China have more than $1 million per cent) in India and keen investors in precious SEBI TO STUDY 10 per cent due to a depreciating rupee, ation Pankaj Mohin- droo said. number of affluent house- holds while the US remains already surpassed major European markets like investable assets on aver- age, alongside Singapore China. “This demonstrates a metals, this falls to just 3 per cent in Sweden, STT IMPACT FOR which has declined by about 10 per cent in the He added that compa- nies are expected to the most prosperous coun- try in the world, according Germany and France. It’s interesting to see that the and Hong Kong. The only Europeans to feature in top five are the great contrast in wealth distribution within emerg- ing markets, even where Norway and the Netherlands, and 2 per cent in Denmark and Israel. last three months. increase prices in the to market research firm entrepreneurial spirit of STOCK MARKET “The value of rupee has depreciated by range of 5-10 per cent. Karbonn Mobiles TNS. According to TNS’ people in these markets is already paying off in terms Swedes, while the UK and France are the least likely the actual number of afflu- ent households is high and “Despite today’s pan-glob- al financial trends, it’s New Delhi, Oct. 6: Capital almost 10 per cent. executive director “Global Affluent Investor” of personal wealth,” TNS in Europe to have these lev- highlights a need for very important to recognise the market regulator Sebi is Almost all companies Shashin Devsare said study, India, China and Director Business and els of investable assets, the precise marketing strate- diversity in local prefer- reviewing the impact on are about to run out of that his company is also Brazil have overtaken Finance Reg van Steen said. study said. gies to reach the right audi- ences when it comes to the stock market turnover their stocks which they looking at increasing many European countries While the US is ranked as The study also highlight- ence,” it said. asset allocation. We detect- from a possible scrapping had booked months in the prices in the range in this measure of con- the world’s most prosper- ed that while incidence of The study also revealed ed big differences between of securities transaction advance. “The margins of 7-10 per cent across sumer wealth with three ous country, with 31 mil- affluence would be higher regional contrasts in terms markets, even when they tax (STT), which is levied in handset business are all its handsets. — PTI million affluent households lion affluent households, in small, wealthy countries of what the affluent actual- border each other geo- on all sale and purchase in each in these countries UAE and India appear in like Luxemburg (29 per ly invest in. graphically. — PTI the equity market. The regulatory authority is in favour of a complete or phased withdrawal of the ATTRITION DECLINES CHEMICAL MISUSE GOVT TO REVIEW 236 SAIL SEEKS GAS FOR levy and it expects any BY 18% IN JULY-SEPT QTR MoUs OF STEEL PROJECTS U.P. POWER PLANT such move to positively impact the market New Delhi, Oct. 6: India Inc. has Ban ammonium nitrate New Delhi, Oct. 6: Unsatisfied with New Delhi, Oct. 6: State-owned steel turnover, a senior official witnessed a significant decline in the progress of proposed steel pro- major SAIL has sought gas allocation said. The Sebi is assessing the attrition levels during July- September 2011 on the account of bulk import, Sharma told jects, entailing estimated invest- ment of `11 lakh crore, the govern- of 5 million standard cubic metres per day (MSCMD) for its proposed estimated gains in terms of uncertain job market, says a study. New Delhi, Oct. 6: Concerned over ment will review hundreds of MoUs 1,050 MW independent power plant the overall stock market “Attrition outlook had declined in misuse of ammonium nitrate by anti- signed by companies in past 5-6 in UP’s Jagdishpur, near Amethi. turnover volumes as also our second quarter study. Major social elements for making bombs, a years as most of them have “SAIL has submitted an application for the savings that reason for decline is uncertainty in member of Parliament has asked the remained only on paper. “Our com- to Central Electricity Authority for investors and traders getting new job. The major reason commerce ministry to ban bulk panies have mastered the art of allocating 5 MSCMD natural gas might realise from the for switching a job is dissatisfaction import of the chemical. Mukesh signing MoUs as most of them are from domestic sources for the power withdrawal of this tax, with supervisor or senior. It clearly Gadhvi, the member of Lok Sabha, in on paper only. As many as 236 such plant project,” steel minister Beni which is being levied on shows employees are scared about a letter to commerce and industry agreements have been signed in last Prasad Verma said. To prioritise gas stock market transactions their career in current crisis,” minister Anand Sharma has said 5-6 years for setting up iron and allocation for the project, the minis- since October 2004, he MyHiringClub.com CEO Rajesh that the chemical often finds its way steel units but most of them have ter has also written a letter to power added. The regulator would Kumar said. According to the study, into the hands of anti-national people neither acquired land nor have got minister Sushil Kumar Shinde, submit the findings of its attrition rate in the second quarter through unregulated ammonium mining leases to set up their units,” whose ministry is preparing a list of review to the Finance of current fiscal declined by 18 per nitrate, used mostly in the form of steel minister Beni Prasad Verma gas-based power plants to be commis- Ministry at the time of its cent compared to the first quarter of fertiliser grade. Mr Gadhvi said that said. Most of the MoUs have been sioned during the next Five-Year submissions for the next FY’11. Among the 11 industries sur- the government should allow import signed between private corporate Plan (2012-17). “I’ve written to Mr year’s union budget propos- veyed, the IT and banking and of only explosive or industrial grade houses with several states includ- Shinde. He will prioritise it and als. — PTI financial sector have witnessed dou- ammonium nitrate. — PTI ing Karnataka, Orissa, Chhattis- would pitch for gas allocation,” Mr ble digit attrition rates. — PTI garh and Jharkhand. — PTI Verma said. — PTI