1. By:-
Kavita Rani
MBA 2C
Economic Times Presentation

2. IT biggies vroom back on job
street
 With business from large foreign customers as well
as domestic projects picking up, software firms are
hiring like never before.
 India’s top IT firms, including Tata Consultancy
Services, Infosys and Wipro, are set to hire nearly
90,000 this year, compared with only around 20,000
last year.
 This is the highest hiring growth recorded in the IT
sector since recession.

3. World leaders fail to corner China on
yuan
 The world’s financial leaders failed to reach agreement
on how to contain an escalating currency dispute that has
threatened to undermine global co-operation on
economic recovery.
 Despite loud calls from the US, Europe, Japan and other
countries, the annual meeting of the International
Monetary Fund did not succeed in placing significant
pressure on China to allow a prompt and meaningful rise
in the value of its currency.
 The high jobless rate in the United States, along with the
looming mid-term elections, has prompted the
administration to intensify calls for China to allow its
currency to appreciate in the hope that it will increase

4. Take country roads, RBI tells foreign
banks
 The government and RBI, will nudge foreign banks
in India to operate in unbanked areas and relatively
smaller towns, in new rules for conversion of their
existing branches here to fully-owned subsidiaries of
their parent banks.
 It will encourage foreign banks who wish to
commence business here and all those already
operating in the country to open branches in tier III to
VI cities — far away from the major metros where
most of these banks focus on, besides the
hinterland.

5. Patni Computer opens 500-seat
facility in China
 IT and BPO services provider, Patni Computer
Systems, announced the opening of a new ITO
delivery center in Suzhou, China.
 Patni’s new Suzhou delivery centre is set to serve
the Yangtze region — the largest and one of the
most highly developed manufacturing bases for
international companies.
 The centre will focus on delivering development and
support services to cater to Japanese, the US,
European and local multi-national corporations.

6. $300b to be raised to bridge core
gap: FM
 The government will try to raise over $300 billion
through long-term debt to fill the gap in funding for
infrastructure projects in the 12th plan period (fiscal
2012-17).
 The government recognises that the debt of longer
maturity is usually not available because of the
various constraints such as absence of benchmark
rates, asset-liability mismatch during the tenor of
debt in case of financial institutions and high cost.
 IIFCL - India Infrastructure Finance Company Ltd.