Adidas sets targets to overtake Nike as the largest sportswear company by 2015. It aims to grow sales to $24 billion by 2015, up two-thirds from 2009 levels. However, Nike is also aiming to reach $27 billion by 2015, so it will likely remain the market leader if both companies meet their targets. The US criticized India's complicated FDI rules and non-tariff trade barriers. Several barriers like import licenses, standards and certifications, and local content requirements were noted. The Indian government is working to increase transparency and lower costs with a single FDI policy. HDFC Life Insurance has postponed its listing plans until the government relaxes foreign investment norms in the life

1. WEEKLY NEWS
(November- Second Week)

2. ADIDAS SETS TARGETS TO
OVERTAKE NIKE
 Aims to grow sales to $24 billion by 2015 up two-
thirds on 2009 levels.
 Strives to overtake market leader.
 Reported strong 3rd
quarter results.
 Lifted US & Eastern European growth.
 Expected to grow sales by 8% in 2010.
 Nike aiming to reach $27 billion by 2015.
 If both companies meet their targets then Nike will
remain market leader.

3. US CRITICIZES INDIAN FDI
NORMS
 US commerce secretary, Garry Locke criticized India’s
complicated FDI rules & non-tariff trade restrictions.
 Following barriers faced by foreign businesses in India:
 Import Licenses.
 Standards & Certifications.
 Local content requirement.
 Anand Sharma favours that Indian government worked
much on:
 Increasing transparency.
 Lowering cost with single FDI Policy.

4. FDI TO DECIDE HDFC LIFE
LISTING
 HDFC standard life insurance has put off its listing
plans until govt. relaxed foreign investment norms.
 UK life insurer Standard Life Insurance holds max
permissible 26% in life insurance venture with
mortgage giant HDFC.
 If govt. relaxes foreign investment limits to 49%,
Standard Life will subscribe to its full entitlement.

5. MINING-HIT TO GET COMPEN-
-SATION EARLY
 Govt. plans to ask mining companies to start paying
compensation to project affected people from
allocation day of mining block.
 Once project starts making profits, displaced families
will be provided annuity income from net income.
 Proposal insures income support till venture starts to
make profits
 Mining companies will be allowed to claim these as
expenditure.

6. RBI BANS 3 MNC BANKS FROM
TRADING IN GILTS
 RBI pulled up some foreign banks in India amid
investigations into circular trading in Govt Bonds.
 The Board of Financial Supervision decided to
impose certain restrictions on market operations of
these foreign banks.
 The Central Bank has decided on 6 month trading
ban on following 3 foreign banks:
 Standard Chartered Bank.
 Societe Generale.
 Caylon.

7. NEW CPI INDEX TO BE BASED
UPON STATE STATS
 New consumer price indices set to be rolled out from
January
 They will be ground up compilation of inflation with
price index for each state adding up to a National
Index.
 From January each state will have 2 consumer price
indices:
 For rural areas
 For urban areas.
 These indices will be added in National Rural Retail &
Urban indices.