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Third weekly news


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Third weekly news

  1. 1. P R E S E N T E D B Y : N I T I N G O E L Weekly News: Economic Times
  2. 2. FII funds expected to push markets higher (24 Oct, 2010)  Markets will remain strong in the short term due to the bullish sentiments and strong foreign institutional investor (FII) inflows  More stimulus expected in US & it will be positive for the markets, especially the emerging markets, as more fund inflows can be expected here  Moderation in China’s GDP growth impact seems insignificant, but one can expect some volatility in the markets due to the speculations on this issue  FII inflows in big ticket IPO & the markets will move up after the Coal India IPO listing even if a part of these funds come into the stock markets
  3. 3. Solar energy to become must for telecom towers (22 Oct, 2010)  The government will make it mandatory for mobile phone towers to be powered by solar energy  The solar power initiative for cell towers will help cut the use of noisy, smoke-spewing diesel gensets in tower operations  Prevent flow of government subsidy on diesel for unintended activities  The proposed government scheme will limit direct capital support to telecom companies to a basic minimum for laying solar power panels  It may offer soft loans to companies under refinancing schemes of Indian Renewable Energy Development Agency (IREDA).
  4. 4. G20 inks pact to avert trade war (24 Oct, 2010)  The Group of 20 major economies agreed to shun competitive currency devaluations but stopped short of setting targets to reduce trade imbalances that are clouding global growth prospects  The main aim of the two days of talks was to ease currency strains that some economists feared could escalate into trade wars  Developing countries are worried that Washington, by flooding the U.S. banking system with cash, is pumping up their asset prices and exchange rates, thus undermining the competitiveness of the export industries on which they rely for growth  China, among others, frets that the U.S. policy stance will debase the dollar, the lynchpin of the global economy
  5. 5. India, Brazil to gain most from G-20: US (23 Oct, 2010)  Brazil and India are among those countries that actually have the greatest to gain, and have been among the strongest supporters of the G-20  G-20 needs to grapple with a set of economic challenges facing the global economy in a way that results in a stronger framework for cooperative action  it's extremely important to see the composition of the board evolve in line with the growing role and responsibilities of the dynamic emerging markets in the system