The document summarizes several news stories from The Economic Times: 1) RBI governor earns less than 5% of what top private and public sector bank chiefs earn, as RBI salaries are set by the government. 2) India and Russia will sign an agreement to jointly develop hypersonic cruise missiles capable of speeds over 6,000 kph. 3) A number of Russian nuclear reactors will be set up in India, although a proposed plant in West Bengal faces local resistance.

1. The Week as per Economic Times Shruti Sharma MBA2 ©

2. RBI gets to approve salaries of all the top-level bankers in the country. The central bank's top officials themselves get less than 5 per cent of what is paid to the bank chiefs. RBI Governor D Subbarao's total remuneration is less than not only the chiefs of private sector banks, but also most of the public sector lenders. The government fixes the remuneration for key executives of public sector banks, as also that of RBI's top officials RBI Governor earns less than 5% of top-paid Bankers.

3. India will soon become the first country to have cruise missiles with hyper speed of over 6,000 km per hour. As an agreement for India-Russia joint development will be signed with Russia during the visit of President Dmitry Medvedev here in December. One of the highlights of the visit would be signing of a contract for joint development of hypersonic version of the BrahMos cruise missile, defence ministry sources said in New Delhi. India, Russia to develop missiles having speed of 6,000 kmph

4. The speed of the existing variant of BrahMos is half than that of the proposed ones. With a range of 290 kms, the hypersonic missiles are expected to be ready by 2015-16. A number of nuclear reactors would be set up by Russia in India. Four of the reactors are envisaged to be established in Kudankulam in Tamil Nadu and one in Haripur in West Bengal, with scope for more in future. Contd…

5. The proposal to set up a Russian nuclear plant in Haripur is facing resistance from local people, but the government is hopeful of convincing them about its utility and allay their apprehensions. The second unit of Kudankulam power plant will be made operational within six months of commissioning of the Unit-I. During the visit of the Russian President, a number of other defence deals are also expected to be signed. Contd…

6. With BSE Sensex at 18,000+ levels, India is one of the best performing markets across the globe on a year-to-date basis. The outperformance is based on a strong footing of India’s better economic macrostructure and growth profile. Divergent views about an impending correction due to global factors and low volatility and Indian markets economically well anchored to conquer new lifetime highs are changing the landscape for investing. Market witnessing a better performance

7. These gravitational forces are doing their bits in terms of creating a dilemma in the minds of an investor as the upthrust comes from underlying GDP and earnings growth while the latest quarter earnings are on expected lines but not euphoric enough hence caution is advised. Contd…

8. Pakistan Test batsman YasirHameed reportedly told a British tabloid that his teammates have been fixing "almost every match" and that he himself had refused bribes. However, he later denied his statements. In another sting operation by The News of the World, Hameed said that he had refused bribes worth 150,000 pounds from a corrupt bookmaker to throw matches and lost his own place in the squad that saw his career damaged as a result. Pakistan cricketers were fixing 'almost every match'

9. Hameed also pointed out that the 2004 ICC Champion Trophy semi-final at the Rose Bowl in Southampton between Pakistan and West Indies was also rigged. The West Indies won the match by seven wickets despite posting just 132 runs. Pakistan capitulated to 131 all out. The Sydney Test in Australia earlier this year was rigged for 1.8 million pounds. Contd…

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