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Greece – Greek Prime Minister Papandreou proposed a referendum vote to pass austerity measures included within the Greek bailout. Most Greeks are against more austerity measures according to several polls. The EU Greek bailout seems to be on the precipice of disaster. Markets across the pond and in the U.S. took a nosedive. In the [...]
Greek debt deal hammered out – still much to be finalized. In a last minute deal, Europeans found enough common ground to help rebuild confidence in the Euro and offer a solution, albeit temporary, to the Greek debt problem. Four Steps Euro-Zone Offers To Solve Greek Debt Problem: Private banks accept 50 percent losses on [...]
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The Indian stock market is feeling the heat of the worldwide financial crisis and on Wednesday the Bombay Stock Exchange (Sensex) fell below the 11,000 mark by shedding more than 500 points during the early trading session. The major stocks that are badly hit on Wednesday include Infosys Technologies and Reliance Industries that plunged over [...]
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Anil Ambani’s Power Purchase Agreement (PPA) has guaranteed his 4,000-MW Ultra Mega power project (UMPP) in Sasan of fourteen buyers from seven different states. This project will be commissioned somewhat earlier than the scheduled date. As per the new pact, the commissioning of first unit has been advanced by a period of 16 months, shifting [...]
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The Aviation Industry is facing its toughest times, for sure. Companies have been trying to do whatever they can to cut costs and remain competitive. Employees not even confirmed for their jobs are being handed over pink-slips. One after the other, every known group is sacking its people, be it a crew member or management [...]
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Indian Steel Minister Ram Vilas Paswan in an announcement said that the government would take into consideration the proposal of imposing a 5 percent import duty presented by major industry players like Tata and SAIL. In a press interview Paswan told to reporters, “It is a matter of survival for our steel firms. Tata, SAIL, [...]
The shaking global economy has off late made the BSE Sensex dropping below the 11000 mark. After the SEBI’s decision regarding the tightening up of margins in derivatives the Sensex plunged to its lowest of more than 2 years. The Sensex dropped by 6.98 percent or 754.08 points. Latest measures by RBI of cutting down [...]
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Be it RBI, SEBI or the Finance Minister, everybody is doing its bit in improving the liquidity position of the markets and make investors confident of a secure future. RBI comes up with a cut in CRR (Cash Reserve Ratio), every now and then; the most recent step being a 20,000 Cr MF scheme to [...]
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Denying any intentions to reduce the prices of diesel, petrol and LPG, the Indian Petroleum Minister Murli Deora said that the oil prices in the International market haven’t fallen that much so as to initiate a drop in the prices. According to him, the government is constantly keeping an eye on the oil prices and [...]
The Bombay Stock Exchange benchmark index on Thursday ended the day at 10581.49 points lower by only 227 points or 2 percent from its previous day’s close. The Sensex made a sharp pull back from its largest intraday loss of around 792 points on realty and banking sector stocks. Nifty on the other hand ended [...]