Weekly news for the week ended 14 nov 2Presentation Transcript
WEEKLY NEWS FOR THE WEEK ENDED 14 NOV.
State Bank of India appoints G D Nadaf as director SBI has nominated G D Nadaf as officer-employee Director on the central board of the bank. Nadaf, who joined the bank as cashier in 1972, is serving as deputy manager at Bangalore. He is also General Secretary of the All India State Bank Officers' Federation (AISBOF). He will be in the board for the period of three years. His presence in the central board of SBI will help the organisation and add value to the discussions, AISBOF said in a statement.
G20 nations should help bridge infrastructure gap: Manmohan Singh Prime Minister Manmohan Singh on Friday said the global economy now required a new rebalance in which funds from surplus countries must be pumped into the infrastructure development of poor and emerging economies to avoid destabilisation. Even as we try to avoid destabilizing surge of volatile capital flows to developing countries, there is a strong case for supporting long term flows to these countries to stimulus investment, especially in infrastructure," he said. His reference was to the huge deficits that countries like the United States are accumulating, which needs to be reduced, and the large surpluses in some others like China that has to be contracted so as not to impact on the global financial system.
FMCG sector set to grow 13% in FY11: Report FMCG sector is expected to grow 13 per cent during 2010/11 on the back of strong economic growth, a good monsoon and subsequent rise in rural income. The report also highlighted the emergence of strong regional players across categories such as food, laundry and soaps, further highlighting the risks of increased competition eating into the market share of established players. Faced with rising costs and competition, Indian FMCG companies are increasingly betting on expanding their geographical footprint with overseas acquisitions, expecting higher returns from international operations to offset lower growth in India.
Upward pressure on interest rates from inflation: PNB Interest rates will face upward pressure, if inflation remains at elevated level. If inflation rate does do not come down then deposit rates will go up...but then lending rates will also rise to maintain the balance. Against over 8 per cent inflation now, savings deposits fetch 3.5 per cent interests, while fixed deposits yield 6-7.5 per cent interest rates.
Indra Nooyi keeps mystery alive on Tata top job offer Indra Nooyi coyly suggested that she has not been made a job offer as Ratan Tata’s successor. Long speculated as one of the top names in an imagined list of candidates qualified to lead the country’s oldest and most global conglomerate because of her Indian roots and international profile, Ms Nooyi, 55, nevertheless lavished praise on the salt-to-software Tata group. When asked if Ratan Tata never offered her a job she responded that she “will never ever answer that question either in the positive or in the negative”, and in the process raised more questions than answers.