THE ECONOMIC TIMES NEWS
25TH OCT- 29ND OCT
MICROFINANCE TO GET A REGULATOR IN
NABARD
 MACRO CHANGES COMING
 New law to treat microfinance as separate business and ...
TATA MOTORS PIPS RIL TO EMERGE AS INDIA’S
TOP BRAND
 The Tata Motors-Jaguar-Land Rover combine, with a valuation of $8.45...
SEBI ISSUES ‘WARRANTS’ TO REIN IN
PROMOTERS
CHINA, INDIA TO DRIVE GLOBAL AUTO INDUSTRY
BACK ON TRACK
 The Chinese market is expected to grow by 24% to 17 million car...
REVA PLANS CHINA ENTRY TO CASH IN ON
GREEN CAR DRIVE
 THE world’s largest electric car-maker, Reva Motors, owned by utili...
BUGATTI DRIVES IN WORLD’S MOST EXPENSIVE
CAR
 The world’s most expensive car is in India. Bugatti Veyron
16.4 Grand Sport...
GOVT CONSIDERS 100% FDI PROPOSAL FROM
SWEDEN-BASED IKEA
 INDIA ENTRY
 IKEA, world’s biggest furniture retailer, is
plann...
NISSAN TO RECALL 2 M CARS TO FIX IGNITION
 NISSAN Motor Co said it would recall 2.14 million March/Micra,
Cube and about ...
SIMPLER SUBSIDY MATHS TO JAZZ UP ONGC,IOC
FLOATS
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Eco times 25 29 oct

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Eco times 25 29 oct

  1. 1. THE ECONOMIC TIMES NEWS 25TH OCT- 29ND OCT
  2. 2. MICROFINANCE TO GET A REGULATOR IN NABARD  MACRO CHANGES COMING  New law to treat microfinance as separate business and also consider bringing NBFCs in the sector under the legislation  Finance firms may have to create a microfinance business distinct from their other businesses and will have to follow the new regulations  Nabard to be responsible for regulation of all non-profit MFIs structured as trust, cooperative or mutual benefit societies  MFIs may get access to retail deposits that will allow them to raise cheaper funds and lend at lower interest rates  Bill provides for registration of MFIs collecting thrift from individual members of self-help groups or through a group mechanism  It provides for creation of a reserve fund that would be 15% of an MFI’s net profit or surplus Finmin concerned about extreme regulation
  3. 3. TATA MOTORS PIPS RIL TO EMERGE AS INDIA’S TOP BRAND  The Tata Motors-Jaguar-Land Rover combine, with a valuation of $8.45 billion, has over taken Reliance to top the list of the 50 most valuable corporate brands in India.  BrandFinance, a London-based global brand valuation firm, did the study in exclusive partnership with The Economic Times.
  4. 4. SEBI ISSUES ‘WARRANTS’ TO REIN IN PROMOTERS
  5. 5. CHINA, INDIA TO DRIVE GLOBAL AUTO INDUSTRY BACK ON TRACK  The Chinese market is expected to grow by 24% to 17 million cars, truck and bus market in 2010 while India, coming second in the global league, may produce over 3 million vehicles in this calendar year, a growth over 22% over 2009.  According to global automotive body, International Organisation of Motor Vehicle Manufacturers’ (OICA), which tracks passenger and commercial vehicles, China is expected to surpass its production forecast of 15 million units while India would also cross the estimated 3 million mark  The trend is already visible with the global auto industry clocking 42% growth for the first six months of 2010 driven by rising demand from India and China and flat growth in other bigger markets like Brazil and North Korea  China is also looking at touching the 20 million mark in 2011. “Our forecast is to clock a 15% growth next year.  Auto industry’s dismal sales in many markets like Ukraine (-84%), Russia (-60%), Austria (-52%), Sweden (-49%) and Uzbekistan (-43%) had shrank the market 13% to 61.71 million units in 2009.
  6. 6. REVA PLANS CHINA ENTRY TO CASH IN ON GREEN CAR DRIVE  THE world’s largest electric car-maker, Reva Motors, owned by utility vehicle major Mahindra & Mahindra (M&M), plans to enter China in the hope of cashing in on rising demand for eco-friendly cars as governments push for stricter emission norms globally.  China is one of the largest auto markets and given the huge demand for eco-friendly vehicles it could generate in future, we would like to take our new cars into that market  China, which sold 13 million vehicles last year, plans to sell 5 million electric cars by 2020  Reva currently ships cars to electric vehicle markets such as the UK and Norway  Reva has sold only 3,500 cars in 24 countries as the lack of battery charging networks is hindering its prospects.
  7. 7. BUGATTI DRIVES IN WORLD’S MOST EXPENSIVE CAR  The world’s most expensive car is in India. Bugatti Veyron 16.4 Grand Sport was launched here on Thursday with price starting at 16 crore (ex-showroom Delhi).  The price of the car will be subject to foreign exchange fluctuation as well as the levels of customisation that a buyer demands  Bugatti Veyron, which is also the fastest car on planet, has raised the benchmark for super luxury and sports car aficionados.  Other premium cars such as Rolls Royce Phantom and the Mercedes-Benz Maybach cost up to 5 crore.
  8. 8. GOVT CONSIDERS 100% FDI PROPOSAL FROM SWEDEN-BASED IKEA  INDIA ENTRY  IKEA, world’s biggest furniture retailer, is planning to invest $1 billion in India  It has around 300 stores in 30 countries and has been making attempts to enter India  At present, only 51% FDI is allowed in single- brand retail  The issue gathered momentum after the government put out a paper on FDI in multi- brand retail for public debate
  9. 9. NISSAN TO RECALL 2 M CARS TO FIX IGNITION  NISSAN Motor Co said it would recall 2.14 million March/Micra, Cube and about a dozen other models in its third-biggest recall, to fix a faulty ignition relay that could cause engine problems.  No accident was reported from the defect  Nissan said problems in the ignition relay could cause the engine to stall or fail to restart.  The recalls are mostly in Japan, with 8,35,000 units, and the United States and Canada with a combined 7,62,000 units.  The faulty vehicles were built in Japan, the United States, Britain, Spain, China and Taiwan between August 2003 and July 2006.  Nissan does not disclose cost estimates on vehicle recalls or any impact on its earnings.  But the fix is likely to be relatively cheap, with Nissan estimating less than 25 minutes for the repair, which involves replacing the ignition relay.
  10. 10. SIMPLER SUBSIDY MATHS TO JAZZ UP ONGC,IOC FLOATS
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