With $155 Billion in Purchases Last Year, Government Mulls Direct Dollar Line to Oil Firms To Check Rupee Volatility
Source: Economic Times New Delhi, May 14, 2012 – The government and the central bank are pondering over a plan to move bulk dollar purchases by oil marketing companies out of a turbulent currency market to make the weakening rupee less volatile. With a weekly demand of $2-3 billion, roughly one out of every 10 dollars bought or sold in the Indian foreign exchange market is by...
India’s Textile Exports Estimated to be $34 Billion in 2011-12 Fiscal Year, a Rise of 27% Over Previous Period
Source: Economic Times New Delhi, May 14, 2012 – The government today said the country’s textiles exports are estimated at $34 billion during the 2011-12 fiscal year, which is from April 01, 2011 until March 30, 2012. “Textiles exports for the year 2011-12 are projected at USD 34 billion,” Minister of State for Textiles Panabaaka Lakshmi said in a written...
Germany’s Production Growth Not Enough to Make Up For Slump In Most of Europe, Economy-Tracking Office Eurostat Says
Source: Economic Times BRUSSELS: Strong production in Germany could not make up for a slump across the rest of the euro zone in March with declining output at factories falling and signaling an oncoming recession may not be as mild as policymakers hope. Industrial production in the 17 countries sharing the euro fell 0.3 per cent in March from February, the EU’s statistics...
Asia-Pacific Region’s Iron Ore Reserves at 61.3 Billion Metric Tons
Asia-Pacific Region’s Iron Ore Reserves at 61.3 Billion Metric Tons; 2011 Production of 1.8 Billion Metric Tons Higher Than Consumption By BIZ INDIA New York, 11 May 2012 – China and India are predicted to drive the iron ore mining market over the coming years, according to a new report by a natural resources research firm, Global Business Intelligence. The new report states...
Lakshmi Mittal – India’s Second Wealthiest Man With a Net Worth of $21 Billion
Source: Wikipedia Lakshmi Niwas Mittal (born 15 June 1950) is an Indian steel magnate. He is the chairman and chief executive officer of ArcelorMittal, the world’s largest steelmaking company. Mittal is (in 2012) the second richest man in India. He is one of the richest men in Asia and the United Kingdom, and second in Europe and is presently one of the richest men in the world...
Mukesh Ambani: India’s Wealthiest Man, With a Net Worth of Over $22 Billion
Source: Wikipedia Mukesh Dhirubhai Ambani (born on 19 April 1957) is a Yemeni-born Indian business magnate who is the chairman and managing director of the Indian conglomerate Reliance Industries Limited (RIL), the foremost company of the Indian energy and materials conglomerate Reliance Group. The company was ranked #134th in Fortune Global 500 and is India’s most valuable...
Asian-Indian Business in the U.S. Had Over $150 Billion in Receipts in 2007
In the “informal” U.S. Census of 2007 (a formal census is done every 10 years) Indian-Americans owned nearly a fifth, or 19.9 percent of Asian-owned firms. Asian-owned firms generated more than $507 billion or over half a trillion dollars of revenue in 2007, as the chart shows. Of that, Indian, Chinese and Korean-owned firms did the lion’s share of that business – almost...
Hindustan Unilever Limited Delivers $132 Million Profit in Fourth Quarter
India’s largest fast-moving consumer goods (FMCG) company Hindustan Unilever’s (HUL) fourth quarter net profit rose better-than-expected 21 percent year-on-year to Rs. 687 crore (about $132 million), helped by strong growth across several segments. Analysts on average had expected HUL to report a net profit of Rs 649 crore (about $124 million). The company, a unit of...
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Is There a Contrarian Investment Opportunity In JP Morgan Chase’s Loss?
By Tom Essaye – Weiss Research By now, you’re likely aware of the $2 BILLION loss by the “chief investment office” at J.P. Morgan (JPM). The firm’s stock has obviously…
Meditations on Marshmallows and Retirement
By Nilus Mattive – Weiss Research If you want to hear scary stories related to retirement, you don’t have to look very hard. For example, a trade association for the…
Katrina Says of 3 Bollywood Khans She’s Doing Movies With: “If I had the chance, I would not allow anyone to work with them.”
Source: IANS Mumbai, May 14 — Katrina Kaif is currently working with Bollywood’s three leading Khans – Aamir, Shah Rukh and Salman – in three different projects. So posessive is…
With $155 Billion in Purchases Last Year, Government Mulls Direct Dollar Line to Oil Firms To Check Rupee Volatility
Source: Economic Times New Delhi, May 14, 2012 – The government and the central bank are pondering over a plan to move bulk dollar purchases by oil marketing companies out…
India’s Textile Exports Estimated to be $34 Billion in 2011-12 Fiscal Year, a Rise of 27% Over Previous Period
Source: Economic Times New Delhi, May 14, 2012 – The government today said the country’s textiles exports are estimated at $34 billion during the 2011-12 fiscal year, which is from…
Germany’s Production Growth Not Enough to Make Up For Slump In Most of Europe, Economy-Tracking Office Eurostat Says
Source: Economic Times BRUSSELS: Strong production in Germany could not make up for a slump across the rest of the euro zone in March with declining output at factories falling…
Widespread Pilots’ Strike Has Cost Air India About $18.5 Million in Losses So Far
Source: MoneyControl.com May 14, 2012 – There has still been no end to Air India’s troubles. It’s been a week since its pilots went on a strike that has so…
Air India Strike Continues as 250+ Pilots Defy Court Order to Return to Work
By NDTV Correspondent New Delhi, May 11, 2012 - As the strike called by at least 250 of its pilots continued for a third day today, the Air India management has…
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