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FM is wrong, India has only itself to blame for market mayhem
Ouch! What a painful day for the financial markets. It was like walking —no, running—on broken glass. The rupee breached its all-time of 54.30 against the US dollar and dived even further to a dangerous 54.46 by mid-day.The benchmark indices also cracked under exploding fears of the future of the eurozone, #BSE Sensex #Foreign exchange market #MarketCrash #Reserve Bank of India #Short
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Has gold lost its ability to be a safe haven?
Huh? What's happening? Even as risks to the international financial system mount, prices of gold, typically viewed as a safe haven, have fallen. International prices of the yellow metal have declined to $1,548 per troy ounce, practically erasing its 2012 gains and a far cry from the the record high of #Gold #MetalWatch #precious metal
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Voda-govt clash: Hold on to your seats, sequel around the corner
It looks like the official start date of another legal battle between the government and Vodafone is getting closer. According to a report in Business Standard, the Finance Bill has amended the Income Tax Act to allow tax authorities to re-open going back to six years from the current two #Finance #HowThisWorks #Tax #Vittorio Colao #Vodafone
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Aborted takeoff: Why the IA-AI ‘marriage’ failed
In recent days, Civil Aviation Minister Ajit Singh has been giving voice, with uncharacteristic candour, to his thoughts on the folly of the merger of Indian Airlines with Air India. “In retrospect, it appears that the merger hasn’t worked out in the way it was envisaged at that time,” Singh #Air France-KLM #air india #Ajit Singh #Indian Airlines #Mergers #Pilots' strike #TheLongView
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Reliance: Even at Rs 684 per share, outlook remains bleak
Reliance Industries is having a torrid time, to say the least. Shares in India’s largest private-sector conglomerate plunged to their lowest since March 2009 and below the psychologically important Rs 700 level on continuing worries over its gas output from the KG-D6 basin. Late last week, the company lowered its #BSE Sensex #Credit rating agency #Moody International #Reliance Industries #StockWatch
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Countdown begins: Will rupee cross all-time low today?
Another day, another closing low. On Monday, the rupee plunged to a new closing low of 53.97 against the US dollar, despite suspected intervention by the central bank. The currency is now within striking distance of its all-time low of 54.30 seen in December last year. It could be a matter #CurrencyWatch #Euro #Greece #HowThisWorks #Reserve Bank of India #Rupee
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Venky’s may have to sell Blackburn after all
There’s no doubt about it: Venky’s India’s ownership of English football club Blackburn Rovers has been an unalloyed disaster. The Pune-based poultry firm bought the club in November 2010 for 23 million pounds, making it the first Indian owner of an English football club. It should have been a showcase opportunity #Blackburn #Blackburn Rovers F.C. #KickingAround #Venky's #Venky’s India Ltd
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Say hello to stagflation. It’s going to be with us for a long time
Are the alarm bells ringing yet? They should be. Because it looks increasingly like India is headed for a period of ‘stagflation’ – stagnating growth and high inflation. April’s wholesale price index (WPI), which came in at a much higher-than-expected 7.23 percent, confirms that theory. A Reuters poll had estimated WPI #HowThisWorks #IIP #Inflation #Stagflation
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Will April inflation, IIP nudge RBI to cut rates again?
It's hard not to feel sorry for D Subbarao, the Reserve Bank of India's governor. Many people like to think of him as a 'villain', responsible for holding back India's economic growth by keeping interest rates high. The truth is, he's just doing his job. He's been trying to douse inflation #D. Subbarao #Inflation targeting #Monetary policy #Reserve Bank of India #WhatNext #Wholesale price index
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Samson Option: Will Yeddy take Karnataka BJP down with him?
Rebel BJP leader in Karnataka, BS Yeddyurappa, is almost certainly going down. That much is clear after the Supreme Court on Friday ordered the Central Bureau of Investigation to investigation charges against him in the mining scandal in the State when he was Chief Minister. The central leadership of the #BJP #BS Yeddyurappa #Karnataka #PoliticsDecoder #Sadananda Gowda