2. Market regulator SEBI today doubled the investment
limit for retail investors in an initial share sale offer to
Rs 2 lakh.
The board approved categorising all investors putting
in up to Rs 2 lakh to buy shares through a public offer
as retail investors, Sebi Chief C B Bhave told reporters
here.
This will cut the numerous applications investors
sometimes make in the name of relatives to get more
shares.
3. China has become the third largest market for
Volvo, which was recently acquired by Chinese car
maker Geely, state media reported on Saturday.
Alexander Klose, head of Volvo Cars China, made
the comments at a trade show in the northern city
of Tianjin, according to the official Xinhua news
agency.
G20 seals IMF power shift; China, India to wield more
power
India will improve its rank by three notches to the
8th position in IMF, as the group of 20 nations
(G20) today decided to increase the quota of
emerging markets in the multi-lateral lending
agency by over 6%.
4. China's leaders are promising to narrow its huge trade
surplus and curb surging emissions of climate-changing
greenhouse gases in an ambitious five-year plan to make its
economy cleaner and more high-tech.
The Communist Party plan also promises to encourage
consumer spending to reduce reliance on exports to power
growth.
Nissan to recall 2 million cars due to faulty engine system
Japan's Nissan Motor said Thursday it was recalling
more than 2.1 million cars globally due to a faulty engine
control system.
5. An Indian firm today launched a software service saying
that it provides an alternative to the controversial
BlackBerry services that have run into rough weather with
the government over interception of its data.
The new service, called 'Bharat Berry', was on testing mode
for the past few days and the state Chief Minister Ashok
Gehlot formally launched it here today.
The Bharat Berry software can be purchased online and
downloaded from the website.
Bharat Berry works through a mix of its very advanced
email server known as XGeNPlus and open source
technologies.
6. The United States and Russia will be formally welcomed into
a 16-nation Asian bloc on Saturday, in what analysts say is a
blow to Chinese attempts to diminish US influence in the
region.
US Secretary of State Hillary Clinton and Russian Foreign
Minister Sergei Lavrov will be invited to join the East Asia
Summit (EAS) when the group holds its annual summit in
Hanoi.
Their entry into the EAS, which elevates its diplomatic heft,
comes despite Chinese attempts to promote another
grouping, which does not include the US, as the region's
premier forum for regional cooperation.
7. French President Nicolas Sarkozy says he will sign a bill
raising France's retirement age to 62 despite the massive
protests and strikes it has sparked.
GlaxoSmithKline to pay $750 million in adulterated drugs case
GlaxoSmithKline has agreed to pay $750 million and plead
guilty to manufacturing and distributing adulterated drugs from
a now closed plant in Puerto Rico, the US justice
department said on Tuesday.
Of the $750 million, Glaxo will pay $600 million to settle
allegations that, because the drugs were adulterated, false
claims for reimbursement were submitted to government
healthcare programs.
8. Oil fell on Wednesday as the dollar strengthened and after
an industry report showed a bigger-than-expected gain in
US crude inventories last week. US crude for December fell
36 cents to $82.19 a barrel at 0258 GMT, more than $2 from
a five-month high of $84.43 reached on Oct. 7.
US economy grows 2% in July-September
The economy grew slightly faster last summer as Americans
spent a little more freely. Yet it remains too weak to reduce
high unemployment just as Democrats face deep losses in
Tuesday's elections.
The Commerce Department said on Friday that the US
economy expanded at a 2% annual rate in the July-
September quarter. It marked an improvement from the
feeble 1.7% growth in the April-June quarter.
9. The inaugural Dream Employers survey, run by RedBalloon and
Insync asked people in Australia and New Zealand to nominate
their dream employer.
The top 10 are:
1. Google 2. Virgin 3. Self-employment 4. Apple 5. Qantas 6. Walt
Disney 7. OMD 8. Sydney Water 9. Getaway 10. Coca-Cola .
OMD is a global communications organization, which has been
named the "most creative media agency in the world" for the
fifth year in a row, reports the Sydney Morning Herald.
74 per cent of respondents saying they love the idea of working
for themselves. The reasons - yearning for greater flexibility, the
thrill of working in an area of personal interest and the potential
to earn more money.
