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The Indian Economy (Page 14)

jagdu IF-Dazzler
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Posted: 10 July 2008 at 5:11pm | IP Logged
Cathay Pacific
The airline plans to strengthen its precense in India, even as it contends with surging fuel prices that threaten to saddle the airline with it's first annual loss in a decade. Cathay has ramped up service to India. The airline and its dragonair unit fly 35 times a week to India, up from eight weekly flights in december;
**    **     **
McCain Quote:
"You've heard of mental depression; This is mental recession" He said that growth is about 1% despite publicity over losing jobs to India among other reasons.


jagdu IF-Dazzler
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Posted: 11 July 2008 at 1:24pm | IP Logged

Bits and pieces
Manmohan Singh will go to parliment to save the govt. and the nulcear deal.He came back from the G8 summit and drew the ire of the Kyotophiles by his invitation. The G8 decided that teven if all the carbon emission cuts are done, India and china will be wiped out by the emissions from India and China. GE can move from making light bulbs to building energy efficient coal factories in India.**      **         **

India and China will lead the IPO volumes, tipped to raise$72b and 146 IPO's. Reliance 2.93b, Godrej Properties $150m and KSK Energy ventures $192 m do not spell a trend. India was among the last equity markets to correct and appeared to ignore the dislocaiton in the global capital markets until then.**          ; 

Mutual funds dedicated to Latin America have outperformed all others over the past half-decade. India, technology and energy funds have not been able to keep pace. Unlike India, most of Latin America has an abundance of natural resources, not just an abundance of people.


 



Edited by jagdu - 13 July 2008 at 1:55pm
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Posted: 13 July 2008 at 1:42am | IP Logged

Time Warner targets India
Following an industry glut of movies last year, Warner Bros. and other studios are curbing their output. But Warner Bros. is banking this summer on its Batman film "The Dark Knight," and is exploring opportunities in countries including India. Watch out, UTV. **         **         & ; ;nbs p; ** A shake-up in India's ruling coalition could jump-start efforts to liberalize The Indian economy, giving impetus to government plans to sell stakes in state-owned firms, including the national airline. The government, led by Prime Minister Manmohan Singh's Congress Party, said Friday it will hold a parliamentary confidence vote this month to determine its fate and the future of a civilian nuclear deal with the U.S. **         & ;nbs p;  **         & ;nbs p;      **         & ;nbs p;        **       Infosys technology gains 21% in previous quarter: A weaker rupee and a tax reversal helped Infosys Technologies Ltd.report better-than-expected 21% growth in its fiscal first-quarter net profit. Infosys, India's second-largest software exporter by revenue, behind Tata Consultancy Services Ltd., raised its earnings and revenue forecast in rupee terms. ************************************                   Bharti Airtel Ltd. and ICICI Bank Ltd., voted first and second for innovation in India are synonymous with the country's consumer boom.Bharti Airtel, India's largest mobile-phone operator by subscribers, and ICICI, the country's largest private-sector bank by assets, have created unique products for the Indian market and imported smart ideas from overseas, extending their reach into Indian society and raising standards of service.        &nbs p;



Edited by jagdu - 13 July 2008 at 4:20am
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Posted: 13 July 2008 at 11:00pm | IP Logged
What will happen to The Indian Economy if gold prices are hit?
Demand for gold is slipping in India as its price grows too dear.
Some major brands are on the wane in India, the world's biggest consumer of the precious metal, as record prices finally take their toll on demand. Despite gold's status as a symbol of wealth, prosperity and good luck in the Hindu religion, local buying for weddings, birthdays and estates is falling, a trend that threatens to have a material impact on prices.
In May, Indian gold imports were down 52% from the same month in 2007. The country imported around 108 tons of gold in the first five months of the year, compared with 300 tons a year earlier. Local prices are up by one-third from a year ago, to 12,540 rupees for 10 grams (about $290). Meanwhile, inflation in India hit a 13-year high in June, and lower-to-middle-income earners are feeling the pinch.
Shoppers are buying just one set of gold ornaments for weddings these days, rather than two for the bride and one for her future mother-in-law. And, jewelry is being purchased in lighter weights to cut costsp per India's The Economic Times.
The question is whether investor demand will take up the slack in prices; the consensus suggests prices are in for a struggle. Investors already have plowed far less into gold this year. Only 52 tons of gold has flowed into the world's 14 exchange-traded gold funds, compared with 262 tons in 2007 and 254 tons in 2006. While conditions are ripe for gold including rampant inflation spurred by soaring oil, a sinking dollar and clouds over global economic growth some analysts are puzzled over why prices haven't jumped.
Considering that 2008 has seen gold trade to an all-time high of $1,035 an ounce, and it is holding around $900 an ounce, this is a rather disappointing performance, this year will prove gold's zenith as the dollar revives, credit woes recede, and methods to combat inflation take effect; Can we expect to see gold lower next year?
Although Indian gold imports may have dropped off, a change in buying habits doesn't mean gold's luster has dimmed. It's just that disposable income cannot rise as fast as the gold price. Steel expects the cash price of gold to average about $910 an ounce in 2008, $25 higher than the average so far this year. Demand will recover as buying in India's festival period picks up toward year's end and time runs out for couples holding out for lower prices before wedding season.
But this may not be enough to rescue gold's fortunes. If investors really stopped buying gold in the current environment, then it would be very difficult for gold to rise further. Meanwhile, the most-active August gold contract on Nymex's Comex settled at $931.30 Friday, up 2.9% on the week countering big slides by equities markets last week.

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Posted: 14 July 2008 at 1:22am | IP Logged
What;s going to happen to The Indian Economy
These Asian powerhouse bourse has fallen hard this year. And there aren't any technical reasons to expect a recovery anytime soon.
Last year's powerhouse Asian market India is down 36 percent from it's peaks last year. And The Indian Economy constinue to "trend" downward.
One just wants to drive home the point that these the country which happens to have a large populations on the planet, is in a bear market and that tempting as it may be, bottom fishing is a very dangerous game to play.
The Indian Economy has also had a rough year. There was a very clear multi-year trendline breakdown in February 2008. The move up from the March lows to the May highs kissed the broken bull market trendline from below in a "test" of the breakdown. The market tried to erase its breakdown and get back into its old trend but could not do it. Put another way, the bears were tested and they passed.
And now, with the Sensex dropping below rather important support from the March low at roughly 14,700 the bear market remains firmly in place, again save for any corrective bounces that may occur.
Most investors have limited access to the Sensex index itself. How low can India go? Of course, nobody can answer that question with any certainty but there is a rather important support area near the 10,000 level from a sizable correction that occurred in 2006. This would also represent, in round numbers, a 50% retracement from the 2007 peak and a psychological level investors tend to respect.
These are huge drops and implications for investors are clear. The long-term fundamental stories here may still be sound but for now the market is doing some house cleaning to wring out the speculative excess. If the fundamentals hold true, then the market will set up better buying conditions down the road.


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Posted: 15 July 2008 at 10:48am | IP Logged
US seeks Ranbaxy documents
Did Ranbaxy Labs forge documents relating to an investigation into the quality of the drugs sold in the US? FDA inspectors toured N. India in 2006 and found inconsistencies in the manufacture process and the maintenance of data and even ran tests of 200 random samples of products manufactured in the US and found no "systematic fraudulent conduct." A large portion of Ranbaxy's income comes from the US and Daiichi has a huge stake in Ranbaxy.
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Posted: 15 July 2008 at 10:57am | IP Logged
Political Shift in India may spur Asset Sales
Will Manmohan Singh sell stakes in state owned firms including Air India, Tata communications and NTPC? That will help the budget deficit, give more money for subsidies and shield Indians from oil prices.  Job losses could happen upon privatization. NTPC is India's biggest power generating company by capacity and can fetch $65 billion, and even the sale of a tiny slice of the govt.'s 89.5% stake will diminish the state's role in a com. that netted profit of $75 billion on revenue of $386.35 billion. It could also sell 15% of Air India where losses are close to Rs 1.5 million a day. Air India is seeking a Rs 23 billion bailout.
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Posted: 15 July 2008 at 9:07pm | IP Logged
Dear foreign countries, The Indian Economy is Coming to your backyard!
Indian companies increasingly are heading overseas for merger and acquisition opportunities ' and meeting little resistance from politicians worried about foreign "influence.".
%5bThe%20Indians%20Are%20Coming!%5d

So far this year, Indian companies have announced 156 foreign M&A deals valued at $13.5 billion, according to research firm Dealogic. That's 57% more deals than had been announced by this time last year. Outbound M&A is more than halfway to topping 2007's total of 224 deals valued at $21.3 billion (see nearby chart).

The  Indian Economy has announced 32 deals valued at $4.6 billion, up from 23 at $2.9 billion by this time last year. Indian acquirers don't shy away from politically sensitive industries. Example Essar Global's $1.65 billion purchase of Minnesota Steel in 2007, or Tata's purchase of the Jaguar and Land Rover brands from Ford.

India has its fair share of state-owned companies after decades of socialism in varying doses. But the most successful companies ' those now looking for opportunities abroad ' are independent of New Delhi. And since most of the Indian companies involved are publicly listed, they're open to more scrutiny than almost any big Chinese company or Middle Eastern sovereign wealth fund.

There's a lesson for China, Russia and innumerable emerging economies such as the Indian Economy: developed economies prefer that capital comes transparently and without fear that foreign-government meddling will accompany it.



Edited by jagdu - 15 July 2008 at 9:07pm

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