Markets
Over the past two days, the global indices crashed, this morning the Nikkei reached its 8 month low, the Dow lost over a 1%, the KOPSI (South Korea) lost almost 4%. Expect the Sensex to touch the 14400 levels.
So what exactly is the issue? In the short term lending market, where financial institutions lend money to each other for periods ranging from a day to a few months, the players simply do not trust each others credit record. Those with surplus funds are not sure if those who require the cash are exposed to the US Subprime lending market. The lenders have no way of ascertaining whether the borrowers have exposure to the market or now. This makes lenders reluctant to lend money. Causing a credit crunch. This fear was further accentuated because a leading subprime lender in the US is likely to go bust. Global markets crashed on the back of a worry that there will be an impending credit crunch.
Meanwhile, Indian bankers do not expect a replay of the Sub-prime housing market worries here.
Corporate Watch
M&M is starting operations in Brazil and Egypt. While Tata Motors wants to gain a foothold in Europe, M&M cleverly has decided to focus on markets similar to the Indian market. Its range of rugged UVs (which will run on everything from kerosene to diesel, what ever the quality) will be ideally suited for such markets.
TRAI Vs Mobile Service Operators. Over what else? Price fixing. TRAI should launch an investigation to see if the operators have formed a cartel, rather than trying to hold prices firm.
In TN, all parties have now opposed the Tata project, never before has any industrial project faced such opposition. While Tata insists the project is on track, the Amma of Poes garden, aided by desperate for the limelight Ramdoss is opposing the project.
AI ground staff have once again gone on a flash strike, over payment arrears. Looks the carrier needs more than just handholding.
Chinese manufacturing quality is under cloud, after Nokia recalled batteries, Mattel recalled toys.
Struggling Indian financial institution IFCI is looking for a strategic partner to pick up 26% stake. Hope this ends IFCI’s woes.
Reliance plans to open 500 hypermarts and 1000 fresh stores. And some are planned in the communist bastion of West Bengal.
Economy
Fin Min is desperate for money, they just haven’t resorted to begging yet, soon they will get there I guess.
The plans for regional airlines has hit a roadblock, while more discussions are on regarding the new policy.
Bengal wants STPI extended. Being a latecomer, it needs STPI to attract further investments.
Tourism Ministry is using Youtube to promote India.
Ministry allows Cements without BIS nod. Looks like my earlier post on poor quality housing might come true
FM has mooted a gradual approach to rupee convertibility.
Over the past two days, the global indices crashed, this morning the Nikkei reached its 8 month low, the Dow lost over a 1%, the KOPSI (South Korea) lost almost 4%. Expect the Sensex to touch the 14400 levels.
So what exactly is the issue? In the short term lending market, where financial institutions lend money to each other for periods ranging from a day to a few months, the players simply do not trust each others credit record. Those with surplus funds are not sure if those who require the cash are exposed to the US Subprime lending market. The lenders have no way of ascertaining whether the borrowers have exposure to the market or now. This makes lenders reluctant to lend money. Causing a credit crunch. This fear was further accentuated because a leading subprime lender in the US is likely to go bust. Global markets crashed on the back of a worry that there will be an impending credit crunch.
Meanwhile, Indian bankers do not expect a replay of the Sub-prime housing market worries here.
Corporate Watch
M&M is starting operations in Brazil and Egypt. While Tata Motors wants to gain a foothold in Europe, M&M cleverly has decided to focus on markets similar to the Indian market. Its range of rugged UVs (which will run on everything from kerosene to diesel, what ever the quality) will be ideally suited for such markets.
TRAI Vs Mobile Service Operators. Over what else? Price fixing. TRAI should launch an investigation to see if the operators have formed a cartel, rather than trying to hold prices firm.
In TN, all parties have now opposed the Tata project, never before has any industrial project faced such opposition. While Tata insists the project is on track, the Amma of Poes garden, aided by desperate for the limelight Ramdoss is opposing the project.
AI ground staff have once again gone on a flash strike, over payment arrears. Looks the carrier needs more than just handholding.
Chinese manufacturing quality is under cloud, after Nokia recalled batteries, Mattel recalled toys.
Struggling Indian financial institution IFCI is looking for a strategic partner to pick up 26% stake. Hope this ends IFCI’s woes.
Reliance plans to open 500 hypermarts and 1000 fresh stores. And some are planned in the communist bastion of West Bengal.
Economy
Fin Min is desperate for money, they just haven’t resorted to begging yet, soon they will get there I guess.
The plans for regional airlines has hit a roadblock, while more discussions are on regarding the new policy.
Bengal wants STPI extended. Being a latecomer, it needs STPI to attract further investments.
Tourism Ministry is using Youtube to promote India.
Ministry allows Cements without BIS nod. Looks like my earlier post on poor quality housing might come true
FM has mooted a gradual approach to rupee convertibility.
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Global markets, 
Credit Crunch,
Tata Steel,
Tuticorin,
Aviation Policy, 
Retail
