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Weekly news

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  • 1. Presented By: Ishudeep Kaur MBA-2 (Finance) PUNJAB COLLEGE OF TECHNICAL EDUCATION 1 Weekly NEWS ( 18Oct-24 Oct2010)
  • 2. India's Forex reserves rise to $294.16bn India’s Foreign Exchange Reserve increased by $2.563 for the week ended Oct 1. Foreign currency reserve rose $1.978 billion to $266.507 billion during the week The value of gold reserves increased $508 million to $20.516 billion, Special Drawing Rights (SDRs) rose $56 million to $5.139 billion and reserve with International Monetary Fund increased $21 million to $1.996 billion.
  • 3. Medals for India at CWG 2010 India won its 26th gold at the Commonwealth Games when Harpre et Singh won the individual 25 m centre fire pistol shooting event on Sunday. Deepika made history by winning the gold medal against former Olympic medallist Williamson Alison Jane of England 6-0 (Women's Recurve Individual event). Veteran Dola Banerjee won the bronze after beating Malaysian Anbarasi Subramaniam 6-2 in the third place play- off (Women's Recurve Individual event).
  • 4. Porsche employees banned from social networking Luxury car manufacturer Porsche has banned employees from using internet sites such as Facebook, Google Mail or Ebay during office hours, for fear of industrial spying, German media reported on Saturday. Corporate security chief Rainer Benne told business weekly Wirtschaftswoche that the company feared information could be leaked via social networking site Facebook in particular. The magazine reported that foreign intelligence agencies systematically used Facebook to contact company insiders and win their trust in order to obtain information. Roughly a quarter of Porsche's 13,000 global employees use Facebook and other social networking sites, Wirtschaftswoche reported.
  • 5. Sonia Gandhi's help sought to rehabilitate Sri Lankan Tamils Chief Minister M. Karunanidhi on Saturday met United Progressive Alliance chairperson Sonia Gandhi and sought her help in ensuring the rehabilitation of internally-displaced Tamils lodged in camps in Sri Lanka. If the Tamils in the camps were rehabilitated and allowed to return to their own places, they would be able to lead a normal life. “The Government of Sri Lanka has to be urged effectively to rehabilitate the Sri Lankan Tamils in the camps early.”
  • 6. New SKS chief barred from taking major decisionsThe Andhra Pradesh High Court has barred the new chief executive of SKS Microfinance from taking any major decisions before the conclusion of a case related to the controversial sacking of his predecessor Suresh Gurumani. M&M to sign final agreement with Ssang Yong by Dec- Jan Auto major Mahindra & Mahindra (M&M) said due diligence on South Korean sports utility vehicle-maker Ssang Yong Motor Company is almost over and work on a draft agreement will begin by the month- end. M&M is interacting with Ssang Yong's management on the kind of products to introduce in India
  • 7. Sensex dips after five-week rally Mumbai, Oct 9 (IANS) The benchmark index for Indian stock markets fell for the first time in five weeks with domestic investors booking profit. The Bombay Stock Exchange's 30-share sensitive index (Sensex) dipped 0.95 percent or 194.78 points to end the week at 20,250.26 points. At the National Stock Exchange (NSE), the 50- share S&P CNX Nifty slipped 0.65 percent during the week to close Friday at 6,103.45 points. Overseas funds invested $1.98 billion during the week ending Friday, according to data available with the Securities and Exchange Board of India (SEBI). For the month, funds from foreign institutional investors have already crossed the $3 billion- mark.
  • 8. IMF reform package near completion: Strauss-Kahn The International Monetary Fund is closer to wrapping up a package of reforms, including shifting quota share by at least five percent from over-represented to under-represented countries by January 2011. IMF Managing Director Dominique Strauss-Kahn aim’s for a shift in quota share to dynamic emerging market and developing countries of by least five per cent from over- represented to under-represented countries by January 2011. India has demanded a revision in quota formula in the IMF based on purchasing power parity. It has also demanded 5-6 per cent increase in voting power for emerging economies in the 186-nation multilateral agency.
  • 9. AI to ask for another Rs.2000cr to repay debts As the process to infuse Rs 1,200 crore as additional equity in Air India takes shape, the national carrier might ask for another Rs 2,000 crore from the government in the next financial year to repay its massive debt. Rajasthan Royals, Kings XI out of IPL4; Kochi spared for now In a major shake-up within IPL, the BCCI unanimously decided to 'terminate' the franchise agreements of Rajasthan Royals and Kings XI Punjab today, while issuing a notice to the newly-inducted Kochi team.