Wrap up: FDI retail debates; Air India relieved

Confused and intimidated by the amount of news hurtling at you everyday? Well, to make your life easier, here's a quick round-up of the major local and international business and economic news events.

• What reigned news flow today was the cabinet nod to 51 percent FDI in multi brand retail and 100 percent in single brand retail. Firstpost gets you news and opinions from multiple sources on reaction to the clearance. Commerce minister Anand Sharma said this would "immensely help Indian farmers and create jobs in the agricultural and food-processing industry". Here is the story.

• The opposition was however not happy with the move. Countering Sharma's claim the BJP today said that the proposed move will create unemployment in the country and adversely affect thousands of traders in the sector. Read moreto see what they have to say.

• As expected, the announcement cheered the organised retail industry; various company officials had been urging the government for a long time to liberalise investment norms in the sector. We tell you who gains and who suffers.

• It was the best Thanksgiving Day holiday gift Americans could have asked for even as they celebrated the annual holiday, a centuries-old harvest time tradition. The Walmarts of the world are already promising the creation of employment in India. Here is more.

• But is the market rejoicing the cabinet approval for retail FDI (foreign direct investment) a bit too soon? The fine print of the proposal suggests so. We tell you why the devil is in the details of the proposal. Find out.

• In a bid to fast-track reforms, Prime Minister Manmohan Singh is set to meet representatives from the aviation industry on Saturday. Chiefs of private airline industry had earlier expressed their desire to meet the prime minister and update him on the crisis ailing the sector. Is FDIon the cards?

• Amid the brouhaha surrounding inflation and an industrial slowdown, the new joker in the pack appears to be the exchange rate. We try and figure out for you why the rupee is falling, if something can be done and if RBI should step in. Read on.

• Here's a very interesting link between Indian office space prices and what's happening in North America and Europe. According to a recent report by Jones Lang Lasalle, a real estate consultancy, nearly 50 percent of the demand for investment grade office space in India is contributed by the information technology/IT-enabled services sector. Here are the details.

• Indian information technology (IT) sector has always remained blue-eyed for investors and many pages and web pages have been filled about this sector. But RBI governor Subbarao challenges this perception. He also talks about 10 challenges the Indian economy is facing. Read more.

• The government today hoped that Air India will see better days ahead with the Reserve Bank of India approving a financial restructuring plan for cash-strapped national carrier.The decision, which would considerably ease the debt servicing burden of the troubled airline, was taken at a meeting that was attended by officials of the RBI, Air India and SBI Caps which has submitted the debt restructuring proposal. Here is the story.