BSE launches ‘BSE SENSEX MOBILE STREAMER’

Sadhguru Jaggi Vasudev from Isha Foundation, today launched the ‘BSE SENSEX MOBILE STREAMER’ in an ‘Opening Bell’ ceremony at BSE. This is one more initiative of the ongoing enhancements at BSE.
With ‘Live streaming quotes for SENSEX companies’ one can view on a real-time basis, best bid and ask quotes and stock price movements for each of the scrips in the SENSEX, which is India’s benchmark stock Index. ‘BSE SENSEX MOBILE STREAMER’ allow investors to access streaming SENSEX data at their fingertips. The second-by-second movement updates on stocks will help the investors make critically timed trades. The ‘BSE SENSEX MOBILE STREAMER’ can be accessed at http://www.bseindia.com/sensexstreamer.jad. The software is easily downloadable on GPRS activated SIM Cards and Java enabled handsets.
Madhu Kannan, MD & CEO, BSE, said, “Having access to real-time quotes is imperative for investors who wants to take informed decisions for their investments in the Capital Market. BSE is proactively making available the critical information to the investors’ on their mobile phones free of cost. We look forward to adding more features and functionality improvements over the coming months.”

She Wants Shoes from Jimmy Choo

                                  Who don't want to own a shoes designed by Jimmy Choo , so do was my dear friend. But she asked me to get her one. First i thought she might be kidding. But when i came to the realization that she is serious , my senses went blank. It will cost more than a months earning for a middle class guy like me. 1300$ per shoes does mean costly isn't?
                                             But what makes these ladies crave for Jimmy Choo. Though his shoes are so expensive , it is the quality of material that he uses as well the advertising strategies he used in market that helds his fame so high in the market. Jimmy Choo engages in ready-to-wear clothing, the line only has a few stores, with its flagship store based in London. Aside from shoes, Jimmy Choo also designer bags.
                                         Jimmy Choo has already sold 50% of his company to Equinox Luxury Holdings Ltd. And now he is working on an exclusive Couture line that is only available on appointment at Connaught Street. How ever he has been quite famous among the ladies with his designer shoes.
                To read more about : She wants shoes from Jimmy Choo

Desperate Ohio Homeowner Destroys House

                                          A ,am from Moscow , Ohio has destroyed his house when the RiverHills Bank was about to take over his 350,000$ house for a debt of 160,000$ . The man was been in fight with the bank for quite a while now. He has offered them 170,000$ to clear the debts , but the bank was insistent as they said they will receive more if they auction it on foreclosure.
                                                       The man warned the bank that he will destroy the house , but bank turned their ear away from that also. So he arrived at his solution , a bulldozer and one afternoon of demolition. He said he wanted to give the bank the way the hill was before he built his house. Now that his business in Amelia is also set for public auction , he might even destroy that building also.
          
                                                     The man wanted to prove a point to the banks who just take away all that a person posses on basis of closure of their debts. But will the banks learn the lesson? Only time will tell that.

Read more about the Bank and House owner Conflict :: Desperate Ohio Homeowner Destroys House

Sensex keeps a down note as IT and Banking sector slip

Benchmarks were witnessing a fluid session with negative bias Monday beforehand of public holiday tomorrow and January series termination and


Intervening term choices of the day

 Rather a few exponent heavy weights will be announcing their Q3FY10 solutions today. A truncated trading week and the expiry of the derivative takes for the January series will pave way for some volatility. Monetary policy announcement by the RBI on January 29 will be another key trigger to watch out during the week.

Nifty continued to trade below the 50 DMA placed at 5118. The index closed at the support line of a rising stick being formed on the weekly charts. Last week we broke down over a similar pattern on the daily charts which is a fractal of the rising wedge. A close below 5000 level in the coming week might touch off further failing in the market and the index is expected to test 4900 level. The universal trend in the market has become bearish which would negate only on close above 5225,  said Edelweiss report.

National Stock Exchange s Nifty was at 4996.25, down 39.75 points or 0.79 per cent. The index reached an intraday low of 4983.05 and high of 5034.70.

Infy, ICICI drag Sensex by seventy five points

The benchmark index of the Bombay Stock Exchange (BSE), the Sensex, closed 75 points down, with bluechip stocks such as Infosys, HDFC and ICICI Bank

acting as drag.

The Sensex, which opened at 17,603.87 points and ended at 17,540.29 points, closed 75.43 points, or 0.43% down from its previous close at 17,615.72 points.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty closed at 5,244.75 points against the previous close of 5,263.1 points, a loss of 0.35%. Broader market indices performed only a tad better, with the BSE midcap index ending flat and the BSE small-cap index ruling 0.44% higher. The market breadth was positive, with as many as 1,725 stocks advancing compared to 1,172 on the decline, while 68 remained unchanged.

Among major gainers on the Sensex were DLF, up 4.26% at Rs 390.20; Grasim, up 3.02% at Rs 2,754.50; Sunpharma, up 2.11% at Rs 1,574.55; and Jaiprakash Associates, up 1.8% at Rs 161.55.

Major losers included Infosys, down 2.41% at Rs 2,464.45; TCS, down 1.98% at Rs 700.50; HDFC, down 1.7% at Rs 2,600.35; and Reliance Communications, down 1.5% at Rs 180.70. Other Asian markets ended in the green, with a key Japanese index, the Nikkei, ending 1.09% higher at 10,798.32 points, while the Korean Kospi, was up 0.7% at 1,695.26 points.

In China, the Shanghai composite index managed to end up with slender gains, closing 0.1% higher at 3,196 points, while the Hang Seng, a benchmark index of the Hong Kong Stock Exchange, closed a meagre 0.12% up at 22,296.75 points.

Key European markets were trading flat, with benchmark index of the London Stock Exchange FTSE 100 index ruling 0.04% up at 5,529.13 points. Among real estate companies, India’s biggest developer DLF soared 4.1% to Rs 389.9 after Goldman Sachs raised it to “buy” from “sell”, citing a potential recovery in office real property and steady growth in key residential markets.

Developer Indiabulls Real Estate advanced 3.4% to Rs 227.4 after Goldman Sachs upgraded the stock to ‘buy’ from ‘neutral’. Overseas funds bought a net $184 million of domestic equities on January 6, according to the Securities and Exchange Board of India website.

NOrth Korea decides to make a currency change

As a step to control inflation and other economic hardships , North Korea has annonced its decision to establish a new currency system. 1000 wons corresponds to 10 new currency as per the sources said. This can lead on to a wipe of savings especially of the common people. The newly taken decision has made a havoc among the local people and the government has announced exchange of old currency with new one effective for a few days.

However the currency conversion is also limited , that is 100000 wons per person which come around 440 $ . As the Pyongyang government wants to put a control over formalized.

South Africa cancels Airbus deal

South Africa has cancelled a multi-billion dollar contract for eight military aircraft with Airbus, citing escalating costs and delivery delays.

The deal for the A400M planes was signed a number of years ago, when the proposed cost of the planes was significantly less.

A government spokesman said the cost was now too great given its more limited resources during the downturn.

The A400M has suffered technical problems and has been delayed.

It was due to fly for the first time in March.

New contracts

"The cost escalation would have placed an unaffordable burden on the taxpayer at a time when the national [finances] are under pressure due to the economic downturn," said South African government spokesman Themba Maseko.

He said the planes would now cost 47bn rand ($6.2bn; £3.7bn), compared with 6.4bn rand when they were ordered.

Airbus said it was "surprised" by the decision.

"We regret this all the more since it comes at a time when the programme is making major progress towards a test flight before the end of the year," it added.

The A400M received a boost this summer, when seven European countries pledged to continue supporting the troubled plane.

Ministers from Belgium, France, Germany, Luxembourg, Spain, Turkey and the UK said they hoped to agree a new contract for the plane by the end of the year.

The project was launched in 2003 as a replacement for the main Nato military transport aircraft, the US-built Lockheed Martin Hercules.

UBS fined £8m by the UK regulator

The Financial Services Authority (FSA) has fined Swiss banking giant UBS £8m for failing to stop its employees making unauthorised transactions.

The FSA said four UBS employees had carried out the transactions using customer money on at least 39 accounts.

The unauthorised activities took place between January 2006 and December 2007. The FSA also said the trades involved foreign exchange and precious metals.

In a statement, UBS said it "deeply regrets this incident".

"Having fully co-operated with the FSA's investigation, we are now pleased that this matter has been settled so that we can move forward," the bank said, adding it had already taken full steps to deal with the problem.

Earlier this week, UBS reported a loss for the July to September quarter.

Venezuela step closer to Mercosur

Brazil's Senate Foreign Relations Committee has approved Venezuela's request to join the South American trade bloc Mercosur.

The committee voted by 12 to five in favour of Venezuela's application, and the proposal will now go before the Senate to gain full approval.

Paraguay's parliament must also approve Venezuela's membership before it will be allowed to join Mercosur.

Venezuela has been trying to join the bloc for three years.

The country officially teamed up with Brazil, Argentina, Paraguay and Uruguay as part of their Mercosur trading bloc in July 2006.

But, so far, its membership has only been approved by the Uruguayan, Argentine and Venezuelan parliaments.

Correspondents say a rejection by Brazil's Foreign Relations Committee would have been severely embarrassing for the Brazilian President, Luiz Inacio Lula da Silva, who is visiting Venezuela this week.

Mercosur was established in March 1991.

Obama signs military budget bill; Pak to get USD 2.3 billion

US President Barack Obama signed a USD 680-billion defence budget bill that provides USD 2.3 billion military assistance to Pakistan with tough condition to make sure that the funds are not squandered or diverted to affect the "balance of power in the region".

Obama said the Defence Authorisation Bill for 2010 eliminates some of the waste and inefficiency in the defence process that will better protect the nation, troops and save taxpayers tens of billions of dollars.


"The bill includes a commitment to the stability of Afghanistan and Pakistan, expanded programmes to keep nuclear weapons out of the hands of rogue states and terrorists, and a reformed system of defence acquisition to save taxpayer money," said House Majority Leader Steny H Hoyer.


The military aid money to Pakistan for the fiscal 2010 as mentioned in the bill has two major components USD 1.6 billion for the Coalition Support Fund and USD 700 million for the Pakistan Counterinsurgency Capability Fund.


For the USD 1.6 billion Coalition Support Fund, the bill would require that, before any more such money is spent, the Obama administration must certify that doing so is in the US national interest and will not adversely affect the region's balance of power.


India feels that the American assistance to Pakistan should be more focused on building counter-insurgency capabilities rather than conventional defence equipment which can be diverted for other purposes.

India's growth rate to accelerate to 6.5 pc in 2010: IMF

International Monetary Fund (IMF) on Thursday said India's economic growth rate will accelerate to 6.5 per cent in 2010 on account of robust domestic demand and rising private investment.

"India's growth is expected to accelerate to 6.5 per cent in 2010 from 5.33 per cent in 2009, on the back of strong domestic demand," the IMF said in its regional economic outlook.

"In particular, the normalisation of financial conditions is expected to support a rebound of private investment, sustaining demand even as the fiscal stimulus wanes," it added.

In its twice-yearly World Economic Outlook released in Istanbul earlier this month, the Fund had pegged the economic growth rate at 6.4 per cent for next year.

The World Economic Outlook had projected India's growth at 5.4 per cent for 2009.

Earlier this week, RBI retained economic growth projection at six per cent with upward bias for 2009-10 in its second quarterly review of monetary policy.

Even Prime Minister Manmohan Singh had recently said that the Indian economy would grow by 6-6.5 per cent in the current fiscal despite being affected by the global financial crisis and drought in the country.

On account of global financial meltdown, India's economic growth slowed down to 6.7 per cent during 2008-09, from over 9 per cent recorded in the previous three years.

In the first quarter of the current fiscal, Indian economy grew by 6.1 per cent.

The IMF said emerging Asia, in particular China and India are rebounding much more quickly that the western world.

It added that the economic recovery in Asia is faster than the rest of the world and is projected to grow by 5.75 per cent during 2010.

"The region (Asia) is out pacing other parts of the world, with the "green shoots" of recovery appearing earlier and taking firmer roots than elsewhere," the IMF said.

IMF forecasts suggest Asia will grow by 5.75 per cent in 2010, higher than the 1.25 per cent predicted for the G-7 economies, but short of the 6.66 per cent average recorded for the region over the past decade.

It added that the pickup in core inflation and inflation expectations in India suggest that demand pressures are already playing a role in pushing up inflation.

Inflation rose fastest in six months to stand at 1.51 per cent for the week ended 17th October, much in line with the RBI's warning that inflationary pressures are building up in the economy.

RBI, in its monetary policy has projected inflation to touch 6.5 per cent mark with upward bias by end of the current fiscal.