Thursday, February 21, 2008

22 - Feb - 2008 : Indian Markets will open lower

Markets are down! This is now a usual happening. There is no point in tracking them anymore but that does not stop me from gathering the market related news

Sify

Gold glitters at Rs 12,215, silver reaches 27-year high:
After breaching the crucial 12,000 mark yesterday, gold prices surged further to set a new record of Rs 12,215 per 10 gram in the bullion market here today.

Nine infrastructure companies booked for evading import duty:
Nine infrastructure firms having their interests in road building have been booked by the Customs authorities for allegedly evading import duty totaling Rs 20 crore on heavy engineering equipment.

Investors forum demands probe into recent market crash:
The Investors Grievances Forum has demanded a probe into the market crash of January 22 and sought explanation from valuers of IPOs which hit the market in January

India to invest $2.5 b in SBI rights shares:
The Indian cabinet on Thursday approved a government proposal to invest Rs 9996 crore ($2.5 billion) in the rights share offering by State Bank of India, the country's biggest lender, a spokeswoman said.

Rupee climbs on strong capital inflows, exporters
The rupee held onto to early gains on Thursday, driven higher by exporters selling dollars and inflows of overseas capital into the stock market, dealers said.

The Financial Express

Broking firms see 400% leap in online trading value
The number of investors opting for online trading has gone up manifold, according to the recently published 'India's Leading Equity Broking Houses, 2008' by Dun & Bradstreet

IT majors on a hiring spree at lower salary
Reduced variable pay and increase in the number of fresh recruits to the total workforce are among the major factors that have led IT majors to hire more at lower pay scales.

Sugar price may rule lower on higher supplies, dull demand
Sugar spot and futures prices in the domestic market may rule lower in the next few days as supplies by sugar mills have increased considerably amid sluggish demand.

The Economic Times

Govt should allow 100% FDI in single brand retail
The govt should think about allowing 100% FDI in single brand retail trading and introducing multi brand retail trading in a phased manner.

'25% public holding may drive out IPOs'
Mkt may witness huge flow of public issues if proposal for listed cos to maintain 25% minimum public holding is implemented, Assocham has said.

Markets may fall further: Goldman Sachs
Goldman's analysts said that retail investors have been a key driver of the market's strong rise between August 2007 and January this year

World News:

Dollar drops on weak US economic data
The dollar dropped against other major currencies Thursday after another set of weak US economic data added to concerns that the world's largest economy risks falling into recession

Oil prices ease off record highs on strong US supply build
World oil prices slid back from two days of record peaks Thursday after a stronger-than-expected rise in US crude-oil reserves damped supply jitters.

US stocks tumble as economic fears mount
US stock markets tumbled Thursday as lackluster economic news renewed fears that the world's largest economy is sliding into recession

US economic gauge weakens
A key forward-looking US economic gauge posted a decline in January for a fourth straight month suggesting "weak growth" ahead for the world's largest economy, the Conference Board said Thursday.

Wall Street sinks on energy's slide and recession worry
Stocks fell more than 1 percent on Thursday as bulging oil inventories deflated energy shares and the weakest reading on mid-Atlantic manufacturing since 2001 added evidence the economy was in recession.

Starbucks cuts 600 jobs amid stagnant U.S. growth
Starbucks Corp said on Thursday it would eliminate 600 jobs as it works to turn around stagnating U.S. coffee shops in the face of a weak economy.

Lehman Brothers to cut 200 jobs: report
Lehman Brothers Holdings Inc is cutting 200 jobs, equivalent to 10 percent of its investment banking staff, CNBC television reported on Thursday.

RK
RentalAndRealEstate.com - Singapore Rentals and Real Estate Social Network

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