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Weekly News


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Weekly News

  1. 1. WEEKLY NEWS (4 TH OCT – 10 TH OCT) Prabhjot Kaur 94972238294
  2. 2. UMESH MODI GROUP ENTERS LIQUOR BUSINESS <ul><li>Umesh Modi Group, which owns Modi Sugar and has interest in consumer and specialty goods, has signed a joint venture with Italian spirits maker Illva Saronno to enter the Indian spirits market. </li></ul><ul><li>The 50-50 venture, christened Modi Illva, will first launch Illva’s luxury vodka brand, Artic, in the Indian market. </li></ul><ul><li>The Umesh Modi Groupowns and markets prominent brands such as Betadine and Modi Revlon in India. </li></ul><ul><li>It is targeting $100 million turnover for its liquor marketing business </li></ul>
  3. 3. CHINA'S CNOOC SIGNS LNG DEAL WITH GDF SUEZ <ul><li>China's CNOOC to buy 2.6 million tons of liquefied natural gas from France's GDP Suez. </li></ul><ul><li>Chinese offshore oil and gas company CNOOC agreed Saturday to buy 2.6 million tons of liquefied natural gas from French utility GDF Suez SA. </li></ul><ul><li>The deals come as the huge European gas supplier shifts its attention to Asia to offset relatively slow demand in its main markets in Europe and the United States. </li></ul>
  4. 4. IMF PEGS INDIA'S GROWTH AT 9.7 PC IN 2010 <ul><li>The International Monetary Fund has projected that the Indian economy will grow by 9.7 percent in 2010 to 8.4 percent in the next fiscal. </li></ul><ul><li>But China is expected to grow at an even faster rate of 10.5 percent in 2010 and 9.6 percent in 2011. </li></ul><ul><li>Indian economy will grow more than 8.75 percent in the current fiscal helped by strong growth in the manufacturing sector. </li></ul>
  5. 5. SIX MINISTRIES TO DECIDE ON FDI RETAIL <ul><li>The Confederation of Indian Industry have stated that the FDI cap should be within the range of 49-51%. </li></ul><ul><li>Now foreign companies can operate the single-brand retail format or in the wholesale cash and carry business with FDI cap of 51%. </li></ul>
  6. 6. RELIANCE RETAIL WORKS OUT JV WITH TOYS ‘R’ US <ul><li>Close to signing pact with world’s leading toy retailer after UK based ’Hamleys’. </li></ul><ul><li>Toys ‘R’ Us is headquartered in New Jersey has an annual revenues in excess of $13 billion and owns world’s largest toy store at New York City’s Times Square. </li></ul><ul><li>The Toy Retail market worth 6000 Cr is highly untapped with unorganized player controlling more than 60%market share. </li></ul>
  7. 7. THANK YOU 