Doubt on 8.8% GDP for Q1 India grew at its pace Last 2 Years. Large Data Discrepancies prompted many Economists to question the strength of Economy. The question mark on GDP data will difficult for Central Bank to raises Interest rates further. Inflation rate is still at 9.97%.
Errors in GDP numbers Centre admits to errors in some GDP numbers. Revised Data likely to show Economy grew 8% from demand side in Q1. Growth in the value of all Goods & Services produced by India was not corroborated produced by Demand side. The different in both of about 0.5%.
Infosys BPO loses work from Deutsche Bank Deutsche Bank is moving a portion of its back office processes from Infosys BPO to its captive centre in the city. Some 150 people are working on this process. Infosys has another 500-plus BPO executives working for various other processes of Deutsche Bank who will remain with Infosys
Nokia Launch Dual Sim Sets Finland – based Nokia announced its foray into the Dual Sim mobile phone segment with the launch of two new Handsets. Micromax , Spice, Karbonn and Zen are giving tough competition with feature rich Phone and Ultra Low Prices. Prices of Nokia C1 is Rs. 1999 with Flashlight , FM Radio and Call Divert features.
Contd… Nokia C2 will allow Users to access servcices like OVI life tools and OVI Mail . It will also have a Music Player and support Micro-SD Cards of upto 32 GB.
Mukesh picks up 14.12% in EIH Reliance industries took investors surprise with a stake buy in hospitality company for Rs.1021 cr. Deal upsets ITC’s desire to control EIH one day. Oberoi family’s stake fell to 32% from 46%. Both Reliance and Oberoi said thet there will be no change in the management.