2. CGF CEO blames India for Commonwealth Games chaos Commonwealth Games Federation chief executive Mike Hooper denied his organisation was partly to blame for problems in the lead-up to the Delhi Commonwealth Games and said the fault lay with India
3. Monsoon likely to ebb at end of this month The monsoon seems to be withdrawing resulting in a drastic reduction of rainfall across India and northern India in particular. According the Japanese meteorological agency, rainfall in general will also reduce in the two weeks after September 25. Excessive rains in July have already hit the paddy crop of around 4 lakh hectares in both Punjab and Haryana.
4. Raise of ceiling The government has raised the ceiling for investment in government and corporate bonds. Become cause of rising rate of loan in build road, ports and power plant. Cap for investment in government security from $5b t0 $10b. Corporate bonds from $15b to $20b
5. Rebuts growth for consumer durable Growth acc. To data released by market research GFK.
6. Cont…… Due to this many of companies are going change their distribution strategy.
7. Ranbaxy got US nod for generic Ranbaxy laboratories got the exclusive right to market a generic version. US law gave the generic maker to patent of six months for innovative drug. This help for Indian company to earn $200m
8. Nestle cuts milk purchase price but no relief for consumers Nestle slashed the price of milk at which it buys milk from farmers in Punjab. Government raised its retail price . Nestle Indian processes for milk 9lakh littre/day. GSK 3lakh milk L/d Both private and government procure over 30 lakh milk L/d
9. Double blow for FMCG Inc. Prices of raw material increase due increase of food inflation. ITC searching for cheap substitute for raw material e.g. edible oil instead of butter. Due this HUL increased price of lifebuoy soap, Rin 4-5%, Daber India 2-3%. The sharp increased cost in input costs put pressure on the domestic FMCG industry.
10. Some Headlines Hyundai lunches new car i10 at Rs. 3.48 lakh. ITC enters instant noodles with sunfeast yippe. Relience retail enter cash and carry business. Fly mobile launches Fly phone theatre MV135, price-3949 Sandstone, sequoia buy into Micromax, Rs.200crs.
