Weekly News:Weekly News:
11stst
Nov – 7Nov – 7thth
Nov, 2010Nov, 2010
Compiled by:Compiled by:
Taranpreet KaurTaranpreet K...
Forbes names Bill Gates 'MostForbes names Bill Gates 'Most
Powerful Man in technology'Powerful Man in technology'
 Bill G...
Microsoft's CEO Ballmer sellsMicrosoft's CEO Ballmer sells
12% stake12% stake
 Microsoft Corp Chief Executive Steve Ballm...
Markets expected to move upMarkets expected to move up
further with FII inflowsfurther with FII inflows
 The stock market...
 A sizeable part of this quantitative easing will flowA sizeable part of this quantitative easing will flow
into emerging...
Obama to ease US-India exportObama to ease US-India export
controls, boost tradecontrols, boost trade
 President Barack O...
 Deals include previously announced transactionsDeals include previously announced transactions
involving General Electri...
India gets world's tallest statueIndia gets world's tallest statue
at Shimlaat Shimla
 Just on the outskirts of Shimla, a...
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Weekly news
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Weekly news

  1. 1. Weekly News:Weekly News: 11stst Nov – 7Nov – 7thth Nov, 2010Nov, 2010 Compiled by:Compiled by: Taranpreet KaurTaranpreet Kaur Mba-2(A)Mba-2(A)
  2. 2. Forbes names Bill Gates 'MostForbes names Bill Gates 'Most Powerful Man in technology'Powerful Man in technology'  Bill Gates has been listed as the most powerful manBill Gates has been listed as the most powerful man in the technology world by Forbes.in the technology world by Forbes.  The founder of Microsoft , Gates has been named theThe founder of Microsoft , Gates has been named the 10th most powerful man in the world, ahead of the10th most powerful man in the world, ahead of the likes of Rupert Murdoch , Hillary Clinton and Stevelikes of Rupert Murdoch , Hillary Clinton and Steve Jobs.Jobs.  Forbes has praised him for his work in coaxing 40 ofForbes has praised him for his work in coaxing 40 of the world's richest people to pledge the majority ofthe world's richest people to pledge the majority of their wealth to charities and good causes.their wealth to charities and good causes.  Apple's chief Steve Jobs is recognised by Forbes forApple's chief Steve Jobs is recognised by Forbes for his "insane" creativity and ability to "transform multi-his "insane" creativity and ability to "transform multi- billion dollar industry every few years" with his latestbillion dollar industry every few years" with his latest must-have devices, such as the iPhone and iPad.must-have devices, such as the iPhone and iPad.
  3. 3. Microsoft's CEO Ballmer sellsMicrosoft's CEO Ballmer sells 12% stake12% stake  Microsoft Corp Chief Executive Steve BallmerMicrosoft Corp Chief Executive Steve Ballmer sold $1.3 billion worth of shares in thesold $1.3 billion worth of shares in the company, cutting his stake by about 12 percompany, cutting his stake by about 12 per cent, and said he will sell more shares by yearcent, and said he will sell more shares by year end, in a move to diversify his investments andend, in a move to diversify his investments and plan for taxes.plan for taxes.  Ballmer sold 49.3 million Microsoft shares inBallmer sold 49.3 million Microsoft shares in the last three days, at prices between $26 andthe last three days, at prices between $26 and $28 per share.$28 per share.
  4. 4. Markets expected to move upMarkets expected to move up further with FII inflowsfurther with FII inflows  The stock markets had a spectacular rally last weekThe stock markets had a spectacular rally last week and closed at an all-time high level.and closed at an all-time high level.  The main trigger for the market rally was the USThe main trigger for the market rally was the US Federal Reserve's announcement of USD 600 billionFederal Reserve's announcement of USD 600 billion in quantitative easing to provide a boost to the USin quantitative easing to provide a boost to the US economy.economy.
  5. 5.  A sizeable part of this quantitative easing will flowA sizeable part of this quantitative easing will flow into emerging markets as part of hedge fund andinto emerging markets as part of hedge fund and foreign institutional investor (FII) investments.foreign institutional investor (FII) investments.  Therefore, emerging markets are expected to remainTherefore, emerging markets are expected to remain strong over the medium term.strong over the medium term.
  6. 6. Obama to ease US-India exportObama to ease US-India export controls, boost tradecontrols, boost trade  President Barack Obama will announce thePresident Barack Obama will announce the easing of US controls on exports to India in aeasing of US controls on exports to India in a move to boost trade between the two countries.move to boost trade between the two countries.  Outlining a series of measures to ease exportOutlining a series of measures to ease export controls, imposed after India's most recentcontrols, imposed after India's most recent nuclear test in 1998, Froman said the presidentnuclear test in 1998, Froman said the president will also support Indian membership of fourwill also support Indian membership of four key global nuclear nonproliferation regimes.key global nuclear nonproliferation regimes.
  7. 7.  Deals include previously announced transactionsDeals include previously announced transactions involving General Electric for aircraft engines andinvolving General Electric for aircraft engines and gas turbines, and Boeing for 737 passenger planes.gas turbines, and Boeing for 737 passenger planes.  But details on a key $4.5 billion sale by Boeing of C-But details on a key $4.5 billion sale by Boeing of C- 17 military transport planes were still being ironed17 military transport planes were still being ironed out.out.  Obama will remove almost all of the remainingObama will remove almost all of the remaining Indian defense and space organisations from a list ofIndian defense and space organisations from a list of entities maintained by the US government to curbentities maintained by the US government to curb proliferation, and relax so called dual-use rules forproliferation, and relax so called dual-use rules for Indian firms that regulate technology with both civilIndian firms that regulate technology with both civil and defense applications.and defense applications.
  8. 8. India gets world's tallest statueIndia gets world's tallest statue at Shimlaat Shimla  Just on the outskirts of Shimla, a giant 108 feet highJust on the outskirts of Shimla, a giant 108 feet high idol of Hanuman (the Monkey God) was unveiled atidol of Hanuman (the Monkey God) was unveiled at Jakhoo Hanuman temple, overlooking the entire city.Jakhoo Hanuman temple, overlooking the entire city.  It is deemed to be world's tallest statue at 108 feet atIt is deemed to be world's tallest statue at 108 feet at the highest altitude of over 8100 feet and constructedthe highest altitude of over 8100 feet and constructed at a cost of Rs 1.5 crores.at a cost of Rs 1.5 crores.  It surpasses the current tallest statue of 'Christ theIt surpasses the current tallest statue of 'Christ the Redeemer', which measures at 98 feet and stands atRedeemer', which measures at 98 feet and stands at an altitude of 2296 feet in Rio de Janeiro, Brazil .an altitude of 2296 feet in Rio de Janeiro, Brazil .

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