xed ca newsletter week september 06- september 12

7/28/2019 Xed CA Newsletter Week September 06- September 12

1/13

NEWSLETTER

1 Pages 06th Sep 2012 12th Sep 2012 www.xedintellect.com

BUSINESS NEWS

ECONOMIC INDICATORS 2 COVER STORY 3 PERSONALITIES OF THE WEEK 4

CORPORATE INTELLIGENCE 5 NEWS ANALYSIS 6 JOB PROFILE11

NEWS DIGEST

IN BRIEF

PERSONALITIES OF

THE WEEK

CORPORATE INTELLIGE

GDP Growth rate FY 13 projec(BofA)

5.6%

BSE Sensex17,852.95(as on 11th September, 2012)

ECONOMICINDICATOR

Goa Suspends all mining

activities in the state

COVER STORY

Zuckerberg expressesdisappointment over IPO,

admits past mistakes

GLOBAL NEWS

Apple iPhone5 launched

in US

AngelaMerkel

a weekly news bulleti

AAARRREEE OOOIIILLL RRREEESSSEEERRRVVVEEESSS GGGOOOIIINNNGGG DDDRRRYYY???

MISCELLANEOUS NEWS

Join us on Facebook

VerghKur

INDIAN RETAIL COMPAN

PART TWO
http://www.facebook.com/pages/Xed-News/129116230504612


2/13

KKKNNNOOOWWW YYYOOOUUURRRBBBAAASSSIIICCCSSS::: HHHUUUMMMAAANNN DDDEEEVVVEEELLLOOOPPPMMMEEENNNTTT IIINNNDDDEEEXXX (((HHHDDDIII)))

EEECCCOOONNNOOOMMMIIICCC IIINNNDDDIIICCCAAATTTOOORRRSSS

Human Development Index [HDI] is a tool developed by the United Nations to measure and rank countries levels ofsocial and economic development based on four criteria: Life expectancy at birth, mean years of schooling, expectedyears of schooling and gross national income per capita. The HDI makes it possible to track changes in developmentlevels over time and to compare development levels in different countries. HDI was devised and launchedby Pakistani economist Mahbub ul Haq, followed by Indian economist Amartya Sen in 1990.

HDI is used to distinguish whether the country is a developed, a developing or an underdeveloped country, and also tomeasure the impact of economic policies on quality of life. The index also shows that countries with lots of income donot always spend that money in ways that create high life expectancies or education levels. The HDI formula result is

a number from 0 to 1, 1 being the best outcome possible. In 2011, the index ranked Norway, Australia andNetherlands at the top of its list having very high human development. India ranks 134th, on a list of 187 countries.

GDP Growth rate FY 13 latest projections: Source: ReutersGoI : 6.5 % (current 5.5%)Bank of America Merrill Lynch: 5.6%Influencing factors:

1) Better monsoons2) Poor industrial production figures in the recent past3) Worsening international market for exporters4) Worrying fiscal deficit5) Still high food inflation which was as high as 10% recently

BSE Sensex 17,852.95 pts (closing as on 11 September, 2012) Source: ReutersThe BSE Sensex rose to a three week high on Tuesday and reached a level seen last on 21 August. The upwardsmovement is primarily thanks to investors feeling that the government is serious about the fiscal reforms issueChidambarams appointment as the FM has given hope to investors considering his stance on reforms. The fact thatdiesel prices may be hiked is also sending the right message to the market. The top gainers were mainly governmenoil PSUs and financial firms like ICICI.

The unemployment rate in India was last reported at 3.8 percent in 2010/11 fiscal year. Historically, from 1983 unti

2011, India Unemployment Rate averaged 7.57 Percent reaching an all time high of 9.40 Percent in December of 2009and a record low of 3.80 Percent in December of 2011. The unemployment rate can be defined as the number of

people actively looking for a job as a percentage of the labour force.

CCCHHHAAARRRTTTSSS &&&GGGRRRAAAPPPHHHSSSIIINNNDDDIIIAAA UUUNNNEEEMMMPPPLLLOOOYYYMMMEEENNNTTT RRRAAATTTEEE (((111999888333---222000111111))) TTTrrraaadddiiinnngggeeecccooonnnooommmiiicccsss


3/13

The worlds oil consumption has been increasing from the day oilwas discovered. But we know its limited. One day its going to getover. Some agencies have a pessimistic view & some claim thatthere is still a lot of oil left. As technology to extract oil develops,figures of oil reserves change. So before asking the question HasOil production peaked? one should look at factors that decide thelife span of oil production. Given our growing dependency onnatural resources, any news related to oil captures attention & isdebated for weeks. But we need not panic every time a report is

published talking about oil going out of production because nobodycan prevent the inevitable! All we need to do is examine suchnews with a little bit of economics, science & yes, mostimportantly common sense.

Why there is so much chaos over oil reserves? Recently, a report was published by Citi Group sayingthat by 2030 Saudi Arabia will stop exporting oil due to its increasingdomestic demand. This would have a significant impact on the globaoil markets, leading to a drastic hike in fuel prices. However, OPEC(Organisation of the Petroleum Exporting Countries) has maintainedthat there is sufficient oil at the moment & hence there is no need topress the panic button. But questions have been raised on the

credibility of the figures stated by OPEC. In 1982, the OPEC adoptedthe Production Quotas System, according to which countries oiproduction will be based on the available oil reserves. After the 80sOPECs reserves barring a few exceptions (Libya) have increased from425 billion barrels to 1.2 trillion barrels accounting for 90 per cent othe global oil reserves addition during the last 30 years. Since theadoption of the quotas system, OPEC countries have been accused of

exaggerating figures of their oil reserves, because larger reserves would allow them to increase oil production which iturn would bring more money in their pockets. In the last three decades, none of the OPEC countries have shown adecline in their oil reserves. Another issue with these figures is that none of the OPEC countries get their reserveaudited.

Oil reserves: On the basis of the degree of uncertainty, oilreserves have been divided into proven & unproven reserves. If oil

can be produced with the existing wells & perforations then it is calledProven developed reserves & if more capital is required for furtherexploration then the reserve is termed as Unproven developedreserves. Unproven reserves are those with 50% chance of beingrecovered. Such reserves are normally not routinely utilized as theyare kept by governments & companies for future. The last category ofreserves is calledStrategic Reserves. These reserves are generallyowned by the countrys government & not counted in the countrys oilreserves. They are held by the government for energy requirementsduring emergencies. Its difficult to get the exact figures becausemany countries deny independent auditing as oil reserves are treatedas state secrets. However, according to a report published by British Petroleum, the world has 1.46 trillion barrels oproven oil out of which OPEC has 81 per cent & the rest 16 nations have 19 per cent. Last year, Venezuela replacedSaudi Arabia to become the largest proven oil reserve country in OPEC. Among the non-OPEC countries, Brazil has the

highest oil reserve & ranks eighth in the world. Saudi Arabia is the largest producer of oil with a production capacity o9.42 million barrels per day. It should be noticed that these countries produce conventional oil which is easilextractable. Unconventional oil considerably exceeds conventional oil in the world but its extraction is very difficult &expensive. The explosive growth in US shale oil and tight sands oil is assessed at over4.7 million b/d by 2020, giving an optimistic future outlook.

Future Outlook: There might be a lot of confusion over the figures and we willhave to accept the fact sooner or later that oil wells will dry out. Most of our needs aredependent on oil power sector consumes maximum oil, transportation also requiresoil, its high time now that we start finding alternatives. However there is good news-according to a report by British Petroleum, by 2030 world will see a shift in energydependence from non-renewable to renewable sources. One can only hope that thisassessment is accurate because, the world as we know it is far from ready to wake up to a morning without oil.

COVER STORY : ARE OIL RESERVES GOING DRY?


4/13

Angela Merkel-Chancellor of GermanyPopularly referred to as the Iron Lady of Europe, Angela Merkel has the distinction of being thefirst woman Chancellor of Germany. She is also the first former citizen of communist-EastGermany to lead reunited Germany. A physical chemist by profession, she is one of the leadplayers in the Euro-zone economic drama that continues to threaten global financial markets. Sherecently backtracked from her earlier stance of allowing Greece to exit the euro-zone and nowsupports ECBs unlimited bond buying programme (which will bailout Greece) in spite of outragein Germany against the decision (as the Germans fear it will lead to hyper-inflation in theicountry). If Greece is allowed to exit, it will cause a domino effect, leading to an economiccollapse on a scale much bigger than the Greek problem. Then, the only way out would bemassive printing of the Euro by ECB which Merkel wants to avoid at all costs.

Merkel was born in 1954 and was brought up in East Germany. Her family had sympatheticviews towards the communist regime and in return were granted favours. Merkel showedleadership qualities from a very young age as a district board representative and secretary of theagitation and propaganda campaign of the socialist-led Free German Youth Movement. From 1973to 1978, Merkel attended the University of Leipzig as a physics student, earning a doctorate forher thesis on Quantum Chemistry in 1978. She entered full-fledged politics in the wake of theGerman Revolution of 1989 and served as the deputy spokesperson in the democratically electedEast German Government prior to German reunification. After Germany was unified, Merkel waselected to the Bundestag (the German parliament) and held a variety of posts.

Despite being a favourite to win the Chancellors post in 2002, she lost the elections due to lack ofsupport from her own party and had to settle with being the leader of opposition. During this

time, she was instrumental in bringing about pro-market deregulation policies, supported a strongGerman-United States relationship (which helped in creating a strong nexus) and controversiallysupported the US invasion of Iraq. Although her policies were sometimes unfavoured, hepopularity never decreased and she won the Chancellorship in 2005 and 2009. Since then, shehas been following up on her pro-free-market reform agenda, made serious efforts to revamp thegovernments health care systems and reduce unemployment rates. Her stamp on the extensiveEUs budget debates is obvious and her views will play a significant role in determining whethethe PIGS will stay within the Union or be forced to exit.

Verghese Kurien (1921-2012) - Father of the White RevolutionBestowed upon with the title of the Milkman of India, Kurien was a world renowned sociaentrepreneur. He was the chief architect of the worlds largest dairy development programmeOperation Flood-which helped India become the largest milk producer (even surpassing USA) andmade dairy farming Indias largest self sustainable rural employment programme. Kurien, with hissocialist vision and technology-led approach made this grand feat a reality. In recognition of hiefforts, Kurien received 17 honorary degrees from universities in India and abroad in addition tobeing the recipient of the Ramon Magsaysay Award (1963), the World Food Prize (1989) and thePadma Bhushan (1999) among others.

After obtaining his graduation degree in India, Kurien did his Masters in Mechanical Engineeringfrom Michigan State University on a Government scholarship. On his return to India, he wasposted at a government creamery in a nonchalant village called Anand in Gujarat. He hated his

job and had vowed to leave as soon as possible. But drawn by the power of an idea milkproducers cooperating to build a better life, he stayed. The Chairman of the cooperativeTribhuvandas Patel, believed Kurien to be a man of immense talent, intelligence and energy andpersuaded him to work to transform dairy farming, convincing farmers to pool their resources toachieve together something which they could never achieve alone. This decision went on totransform rural India and resulted in the birth of AMUL. The Amul pattern of cooperatives became

so successful, that in 1965 Prime Minister Lal Bahadur Shastri created the National DairyDevelopment Board (NDDB) to replicate the program nationwide citing Kurien's "extraordinaryand dynamic leadership" upon naming him chairman.

Kurien encouraged innovations to stay ahead of competition and his sense of professionalismintegrity and constant search for excellence in everything he did brought out path-breakingresults. He staunchly opposed liberalization policies which he believed opened India to unfaicompetition from MNCs. He was immensely capable of shrugging off bureaucratic red tape whichis evident from the fact that successive Prime Ministers, irrespective of their political ideologywere ready to support him and his policies. Interestingly, the man who revolutionized theavailability of milk in India did not drink milk himself. However, he transformed India from a milkimporter to a milk and milk-products exporting nation within a span of two decades-no easy tasfor a developing nation like ours!

PPPEEERRRSSSOOONNNAAALLLIIITTTIIIEEESSS OOOFFF TTTHHHEEE WWWEEEEEEKKK

"As

politicians

we have to

react to the

fact that

many people

do not feel

that they can

relate to theEU.

Indias place

in the Sun

would come

from the

partnershipbetween

wisdom of its

rural people

and skill of

its

professionals.


5/13

Pantaloon Retail (India) Ltd (Lifestyle products, Hypermarkets, Discount Stores)Kishore Biyani led Pantaloon is the largest listed retailer in India and has won various awards for bringing in arevolution in the domestic retail industry. It currently has 1,200 stores in over 80 cities and around 60 rural locationsacross the country. Pantaloon Retail was incorporated as Manz Wear Pvt Ltd and thecompany went public in 1994. It is present across several business lines: Pantaloons fashion, apparel & accessories; Big Bazaar General merchandise; Food Bazaar Groceries; Future Bazaar online retailing; along with consumer durables, books & music,home improvement, leisure & entertainment etc. The companys subsidiary Future ValueRetail operates the three discounted stores (Big Bazaar, Food Bazaar and KBs Fairprice)which are multi-brand retail shops and cash and carry store. In early 1990s Pantaloonsmanufactured and marketed readymade garments for men (including the famous John Miller brand) and by 1997 theystarted manufacturing apparels for women & children.

In May this year, Aditya Birla Nuvo (ABL) had announced that it shall acquire a controlling stake in the company. Itwas supposed to buy Rs. 800 Crores debentures thus taking over the control of the company with a little over 50%stake. However, after the June results of Pantaloons saw a downfall in profits, the Kumar Mangalam Birla led companyis now re-negotiating the terms of the deal.

Shoppers Stop (Malls, Supermarkets, Fashion Products)K Raheja Group promoted Shoppers Stop is one of the leading departmental stores in India and the company was one

of the early birds to start the shopping mall culture in the country. Currently theretail chain has over 50 stores all over India. It also won the award for EmergingMarket Retailer of the Year in 2008 by the prestigious World Retail Congress. Thecompany retails lifestyle products like apparel, footwear, jewellery, home furnishingbooks and music. It also includes domestic as well as premium international brandalong with products like personal care, health and beauty. Its Crossword Bookstoresis the leading book store chain in India with over 80 shops. Shoppers Stop has also

partnered with various companies and started operations like cafes (Brio) and airport stores (Nuance Group). It hasalso entered entertainment business with Timezone Entertainment a firm providing gaming kiosks in shopping malls

Trent Limited (Departmental Stores, Supermarkets, Lifestyle Products)The retail arm of TATA Group - Trent, which operates the famous Westside chain acrossIndia, was incorporated in 1952 as Lakme Ltd. After the group sold Lakme brand to HLLin 1998, they renamed the company Trent Ltd which also owns Landmark, Fashion Yatra& Star Bazaar. With over 45 stores in tier 1 & tier 2 cities in India, Westside hasmanaged to attract a large chunk of the rising middle class segment in India. Thecompany ventured into hypermarket business with Star Bazaar a departmental store focused on groceries, in 2004to directly compete with Big Bazaar. However, since it started operations, Star Bazaar has not gained much popularityand has minimal presence with only five stores across Indian metros. Trent also acquired the Chennai based bookretail chain Landmark a few years ago. Landmark is the second largest book store chain (after Crossword), withover 26 stores in all major cities, hotels & airports and has a huge collection of books, music, toys, stationery & gifitems. In addition to this, Trent owned apparel store chain - Fashion Yatra focuses on price conscious consumers.

CCCOOORRRPPPOOORRRAAATTTEEE IIINNNTTTEEELLLLLLIIIGGGEEENNNCCCEEE::: IIINNNDDDIIIAAANNN RRREEETTTAAAIIILLL CCCOOOMMMPPPAAANNNIIIEEESSS


6/13

1) Mid-tier IT firms are outpacing giants ET/The Hindu Business LineIMPACT: At a time when Indian IT majors are struggling to maintain their profits, mid tier companies are surpassingthem in terms of increase in growth. The relatively lesser known names in the software industry like PersistentSystems, KPIT Cummins, MindTree & eClerx among others are growing at a rate of over 20% in this gloomy economy.The trade secret of their growth is specialized products. Where IT biggies are known for catering to all sectors, thesemid-sized companies are focusing on specific sectors and providing customized solutions at a much cheaper rate thantheir bigger counterparts. Pune based Persistent Systems provides solutions likeoutsourced product development. Similarly, other companies are providing servicesin automotive, manufacturing and travel & transportation sector. The price

difference of up to 30% is helping the mid-tier companies rise in these turbulenttimes. Companies who are trying to outsource their functions for the first timeform the majority of clients of mid-sized IT firms. Such companies are doing testruns on the outsourcing model and are benefitting from the customized products.

KEY PLAYERS:Persistent Systems, eClerx, MindTree

WHY IT IS IMPORTANT?According to a recent study, the number of contractssigned between the price range of $25-$99 million has increased from around 480,three years ago to over 750 in FY-11. But contracts whose valuations are over $100 million are stable at around 200since 2008. Companies which are moving to integrate outsourced models in their businesses cannot afford to payhefty sums for solutions provided by big software companies who have in the past two decades developed theidomain expertise with complex projects. The former set of companies want simpler and more specialized products.

2) Cigarette maker ITC ltd takes a healthy path ET/Moneycontrol.comIMPACT: Indian government is following the footsteps of its international counterparts and adopting anti-smokingregulations thus making it difficult for tobacco companies to maintain their profits. This can be seen in action asIndias largest cigarette manufacturing company ITC Ltd, which holds about 80% of the market share, is now planningto foray into new segments to maintain its revenues. ITC, which has been earning half of its revenues from theunhealthy business of tobacco, is feeling the squeeze in its business and is now entering the health business byintroducing products like health drinks, dairy items and breakfast foods. ITC has its presence in the food business withbrands like Sunfeast (biscuits, cookies & noodles), Bingo Snacks, Aashirvaad (flour & other products) along withservice lines in apparel, soaps & shampoos, stationery and hotels. Except for the packaged flour business where it is

the market leader, the company does not have market share of above 15% in anyother consumer products (excluding tobacco). So it will be a very difficult task foITC - which is branded as a cigarette maker to take away the share of alreadyestablished market leaders in the consumer products segment.

KEY PLAYERS:ITC Ltd, Indian Government

WHY IT IS IMPORTANT? The shift from unhealthy tobacco business tomanufacturing of healthier products is not new. In the late 80s tobacco giant AltriaGroup (earlier known as Philip Morris) had acquired Kraft Foods in order to enteinto healthy food products but after few years they spun off the business. The

Indian governments stricter regulations on smoking like banning smoking places in public places, graphic warning oncigarette packages, increasing taxes on tobacco products has driven ITC towards manufacturing healthy products.

3) Mahindra & Mahindras big expansion plans The Hindu Business Line/ReutersIMPACT:One of Indias leading automobile manufacturers, Mahindra & Mahindra is on the fast track to expand itsoperations in other countries. The company recently announced that it is planning to enter the Russian market in thenext two years and is currently in the process of designing strategies for the same. It is evaluating options like usingCKD model (as its subsidiary SsangYong Motors already has units in Russia which supports CKD operations) or CBU

model or set up a manufacturing plant. Also, M&M, which has become the fourth largest tractor seller in the US, is seto launch two-wheelers in Sri Lanka by end of this year. M&M tractors are competitively priced in the US markets &are giving stiff competition to the countrys leading tractor manufacturer John Deere.

KEY PLAYERS:M&M, John Deere, the US, Sri Lanka

WHY IT IS IMPORTANT?M&M has been working on its expansion plans since thepast few years and has adopted strategies to strengthen its back end operations forfuture exports. It started off by synergizing the auto & tractor manufacturing units inIndia, two years ago. However, M&Ms tractor sales in the domestic markets fell by1.1% in FY-13. In the wake of ongoing dip in auto sales, many auto manufacturingcompanies are foraying into export of vehicles in order to compensate for low salesin their domestic markets. Also, with the success of its XUV 500 model, M&M is launching Quanto (an entry level SUV)in the domestic market by end of September.

NNNEEEWWWSSS AAANNNAAALLLYYYSSSIIISSS


7/13

4) Telecom Commission announces 2G Spectrum auction terms BS/HT/TOIIMPACT: Months after the Supreme Court verdict that cancelled 122 2G licences of about 8 telecom operators inIndia, Telecom commission chairman has announced new terms for 2G re-auction. According to recent reports, thegovernment has allowed all telecom companies to participate in the auction process to be completed by early nexyear. But it has mentioned that any telecom player who wishes to bid for a bandwidth in which it does not alreadyhold spectrum, shall be considered as a new entrant in the auction and hence such companies have to abide by therules made for new entrants in the auction process.

Any new entrant has to bid for a minimum number of slots (at least 4 in 1,800 MHzband or 2 in 800 MHz band in each service area). The GSM providers use 1,800MHz &

900MHz slot whereas CDMA providers use the 800 MHz slot.

KEY PLAYERS:Telecom Companies

WHY IT IS IMPORTANT?The 2G spectrum, which was earlier allocated on first-comefirst-serve basis by former telecom minister A. Raja, is to be re-auctioned in comingmonths. The Zero Loss theory of the earlier auction fell apart when governmentincreased the base price of the auction from previous 1,658 crore to current 14,000crore. The telecom companies whose licences were canceled are allowed to bid in the

auction. But companies are reluctant to bid for the supposedly over-priced 2G spectrum as it will increase the carates substantially. If the operators decide to continue with the same calling charges, it will increase the burden onthe company. Etisalat & MTS, whose licences were scrapped by SC, are not sure if they would bid for the spectrum.

5) Godrej Group exits from the food business TOI/Moneycontrol.com

IMPACT:Godrej group, one of Indias leading conglomerates, will exit the food business it had started with Americasleading chocolate maker. The joint venture (Godrej Hershey) was forged between The Hershey Company & Godrejgroup five years ago, which marked the entry of the US based company into a country which is one of the biggesconfectionery markets in the world. However Godrej Hershey could not make an impact on the Indian consumer withits limited product range like Maha Lacto, Jumpin, Sofit among others and with established players in market, thecompany saw low sales since it started operations.

According to the deal, Hersheys is set to buy 43% stake of Godrej and will alsoacquire $47.6 million debt (accumulated over the years) of the JV. TheAmerican chocolate maker will focus on building its brand, customize itsproducts according to local needs and will invest in infrastructure facilities.

KEY PLAYERS:Godrej Group, The Hershey Company, Godrej Hershey

WHY IT IS IMPORTANT?Cadburys and Nestle are the established players inorganized confectionery market in India. Hersheys has to compete with theseestablished players as well as its domestic market rival Kraft Foods which haslaunched various products in India and is strategizing to form a firm standing in the country. With a population of oveone billion people and the norm of celebrating every festival with sweets & chocolates, the country is the hottestdestination for confectionery makers in the world. Currently, the candy market is over $650 million in which sugaconfectionery dominates the market with 70% share and the rest is held by chocolates.

6) Indias leading consumer durable manufacturers accuse GFK-Nielsen India of under reporting - ETIMPACT: GFK-Nielsen India, a joint venture between GFK Asia & The NielsenCo, has been criticized by leading consumer durable manufacturers in India fomisrepresenting (under-reporting) market data. GFK Nielsen is the solecredible tracker of the retail market in India & such wrong information in itresearch reports about market share & market growth of consumer durables

companies will have negative effects. Some of the misrepresentations: (a)Videocons TV, washing machine & refrigerator sales were under reported byup to 30%. (b) AC market grew by 10% this summer but Nielsens reportstates that it was a flat growth. For others see chart.

KEY PLAYERS:GFK-Nielsen India, Consumer Durable Cos

WHY IT IS IMPORTANT?Generally, companies formulate their strategies onthe basis of the reports by research agencies. Such discrepancies in figures wilimpact their business plans and shatter investor confidence. In line with thecurrent fiasco, one of the parent companies of GFK-Nielsen India, The NielsenCo was sued by NDTV in June this year in the US for allegedly altering TVviewership data. The rating agency was supposedly taking bribes and providingwrong data in the US since the past eight years.


8/13

7) RBI Deputy Governor: ECB action could help trim CAD gap ET / Moneycontrol

IMPACT:ECB President Mario Draghi recently announced a plan for the unlimited but conditional bond purchases o

troubled Euro-zone countries. Global indices, including the BSE, rose 3-4% following the bullish comments, raising

hopes that the programme will boost capital inflows into India and cover the huge current account deficit (CAD)

The CAD position had hit a three decade high of 4.3% in the past fiscal, driven by higher

oil and gold imports which tilted the trade balance in favour of imports. However, the

move could also increase commodity prices and further stoke inflation in supply

constrained economies like India.

KEY PLAYERS:ECB, Germanys Federal Constitutional Court, RBI, GoI

WHY IS IT IMPORTANT?The bond-buying programme may not see the light-of-the-

day if Germanys Federal Constitutional Court rules against the validity of the European

Stability Mechanism (ESM), euro-zones permanent rescue fund. The court-ruling

technically holds the fate of the Euro in its hands. Even if the court accepts the ESM, the

bond-purchases will be sterilised - offset by the sale of other ECB assets to prevent inflation. Thus, it may not lead

to additional liquidity flowing into markets like India. Also, if the Indian Government is not successful in curtailing it

fiscal deficit, the effect of Sensex rallying on the wave of the ESM will be nullified.

8) PwC: India set to become worlds third largest carmaker by 2018 BL

IMPACT: The car market in India is obviously growing. Major global auto players are hoping to cash in on this

promising situation. Players such as Volkswagen, Toyota, Nissan, Renault, Hyundai etc are heavily investing in India

The investments are made in revamping facilities, increasing production and capacity and into research anddevelopment as many new products are in the pipeline. Toyota is planning to make India its biggest component

sourcing hub in the next five years, Volkswagen is set to invest ` 700 crore in the next two years and new-entrant

Nissan has major designs for India. With so much focus on the country, overall car

production as well as exports are bound to increase.

KEY PLAYERS:Major automobile companies

WHY IS IT IMPORTANT? Increasing car production and exports mark a shift in

the countrys manufacturing and BoP structure. Increasing manufacturing will move

India from the current 5th position to 3rd in 2018 which is a good sign. Indian ca

exports to North-western Europe, South Africa, Brazil, etc have increased riding on

the wave of a shift in manufacturing to emerging economies. Renault-Nissan and

Hyundai export about half their production from India, while market leader Maruti Suzuki also supplies significannumbers overseas. Also, capacity utilization in Europe is well below the industry average and demand for cars has

been hit by the scrappage schemes introduced. Thus, the global car industry sees hope for revival in the BRIC.

9) HDFC & Kotak Mahindra Bank feature in Forbes Asia Fab 50 list ET

IMPACT: The Forbes Asia Fab 50 list includes companies which have been able to shield themselves from the

economic slowdown and have managed to grow and prosper. "A slowing economy weeds out the merely good

companies from the truly great ones," writes Forbes magazine. HDFC and Kotak Mahindra are the only two banks

from Asia which feature in the list (which also includes nine other companies from India).

This fact speaks volumes about the Indian banking system and the practices it follows.

KEY PLAYERS:Indian banking sector

WHY IS IT IMPORTANT? In recent times, the world economy has faced severe

difficulties, witnessed the collapse of major banking and financial institutions and seen

demand sink leading to a recession. Amidst all this chaos, Indian banking sector has

been among the few to maintain resilience. According to FICCI a progressively growing

balance sheet, higher pace of credit expansion, expanding profitability and productivity, lower incidence o

nonperforming assets and focus on financial inclusion have contributed to making Indian banking vibrant and strong

The features of excessive leverage, a lax regulatory system and deliberate investments in toxic financial instrument

so closely associated with Western banking are fortunately not present in Indian banking. Limited exposure to

external markets has also helped in keeping Indian banks healthy. To maintain this state, Indian banks must innovate

to take advantage of fresh business opportunities and continue to assess risks. Measures such as credit restructuring

which has recently witnessed a rise, need to be kept in check. Care should also be taken to ensure that the obsessive

profit-seeking tactics of their Western counterparts are not followed.


9/13

10) Goa Suspends all mining activities in the state Reuters/ TOI/ Hindu Business LineIMPACT: An expert panel of the central government has found severe irregularities and legal violations in the miningoperation in Goa leading to the state ordering a ban on all mining activities effective from 11th of SeptemberHowever, the ore already extracted & stored will not be subjected to this ban and will be allowed to be transported totheir destination. The report, which estimates mining-scam of around 35,000 crore in Goa, says that China poses a

major threat to Indias Iron ore. China has 200 billion tonnes of iron ore reserves itself, still it imports such ore fromcountries like Australia & India. China has denied such allegationsreportingtrade figures which suggest a decline in percentage of oresimported from India by China in 2011. Further, Chinese officials haveadvised that it would not be favourable for India to practice restriction

at this moment as there is already a surplus-supply of Iron-ore in theinternational market.

KEY PLAYERS: Mining Industry, Indian Government, Goa StateGovernment, Chinese Government

WHY IT IS IMPORTANT? Goa with annual iron ore production omore than 50 million tonnes is India's second-biggest iron ore produceafter Odisha. However most of it is exported. At the same time China isthe top exporter of steel to India followed by South Korea and Japan

Though mining bans and delays by environmental agencies have reduced Indias Iron ore as well as steel productionthe country has seen a surge in the demand of finished steel. Imports of steel are expected to reach around 8 milliontonnes in 2012-13.

11) Government clears FDI proposals worth 2410 crore ET/BS/Hindu Business LineIMPACT: The government has approved 21 FDI proposals worth 2,410 crore out of which eight proposals worth

1,842.55 crore are brownfield projects (Projects targeted to develop already established pharma firms in India). TheGovernment had been unable to decide on brownfield projects earlier. However, such projects can now receive 100percent FDI subject to certain conditions which ensure definite investments in R&D. On the other hand greenfieldpharma projects (new projects that are not constrained by limiting factors of already established infrastructure) canalso receive 100 per cent FDI via automatic route which in other words meansthat they dont require any approval. One of the main beneficiaries of theseapprovals is Mumbai-based Pfizer which will receive 800 crore worth of FDI.

KEY PLAYERS: Pharmaceutical companies, Government of India

WHY IT IS IMPORTANT? McKinsey has projected pharmaceutical market inIndia would reach $20 billion mark by 2015, three times its current worth. This

will put it in the worlds top 10 pharmaceutical markets list. Global drugmakerssuch as Sanofi, Pfizer, GlaxoSmithKline will now be able to expand their businessin India. This is also expected to heat up the clinical trials market in India. Frost& Sullivan has predicted the Indian clinical trial market would grow from itscurrent 485 million size to above $1 billion by 2016. Improved regulatoryenvironment & higher cost arbitrage are few of the important factors making India a preferred clinical trial market.

12) Apple iPhone5 launched in US DNA/BS/TOIIMPACT: In what is considered as one of the most eagerly awaited product launches ever, Apple has come up withiPhone5. The significance of this launch can be gauged from the fact that JP Morgan has predicted that sales oiPhone5 could boost up US GDP by 0.5 per cent. However, theres more to come in holiday season at the end of thisyear when the company will be launching new versions of iPod Nano and iPod Touch. As anticipated iPhone5 launch

has come up with the discontinuation of its older sibling - iPhone3GS. Thepricing of new phones is same as its predecessors, $199, $299 and $399 for

16, 32 and 64 GB versions. However, India is still not part of iPhone5 salesschedule which begins pre-ordering from Sep 14, followed by release in USUK, Canada, Germany & other major markets in the world. The product isexpected to make a positive impact on the companys shares in US.

KEY PLAYERS: Apple, Smartphone Makers

WHY IT IS IMPORTANT? With sleeker, shinier design to faster processor &so on; iPhone5 has perhaps offered everything that it was expected to. Thereis no white model this time but aluminium body makes it 20 percent thinnerThere are lots of technical upgrades to talk about & it would be interesting tosee how much impact this launch will make on the sales of Samsungs smartphones & the Android market.


10/13


11/13

Ritesh Sethia Investment Risk Analyst

Continued from last week

Q7. What do you feel are the important skill sets

required in this role?Answer: A good understanding of corporate action like a companyissuing rights issue, a company acquiring another company, acompany forming a subsidiary company, and also bankruptcy of acompany and their effects on investments along with goodanalytical skills.

Q8. Given these skill sets what is the most difficult part of your job?Answer: As I discussed earlier, we have to ensure that our investment decisions have to be as per thclient mandate. Now occasionally, an instrument or stock which doesnt belong slips into a clientportfolio and we cannot figure out why and how it got there. This leads to an alert. Solving such

puzzles is probably the most difficult part of my work.

Q9. Interesting, now on the other hand what do you like the most about your job?Answer: What I like most about my work is that I get to learn about client mandates and how they arframed and the various intricacies that influence client investment decisions. Also, the learning Ireceive about managing investment risk is something that is extremely valuable. The other thing I likeis the work environment and the work hours which are relatively relaxed. Apart from deadlines wedont have any major worries.

Q10. What is the reward and appreciation system like in yourorganization?

Answer: In our firm appreciation is taken seriously. For example isomeone find a better way to fulfill a process he receives appreciationright from the top, sometimes including the CEO!

Q11. What is the company culture like?Answer: It has a very cool culture. We have a strict no harassment policy. Anyone found guilty iterminated with extreme prejudice. On Fridays, it is not uncommon for my team to go out for dinneror impromptu parties.

Q12. So have there been any special moments in your career so far which haverewarded you professionally?Answer: It has not been too long since I joined Northern trust, however at Futures First I warecognized as the best trader amongst the new joinees for getting the most profitable trades.

Q13. Finally what are your future professional plans in termsof your goals and objectives?Answer: At this stage of my career, monetary benefits are not mypriority. What matters to me is the quality of my work. If everyone cando a task or fulfill a process, you need to differentiate yourself throughthe quality of your work. In the near term I foresee myself as a learner.Maybe 5-10 years down the line I would want to target a CFO positiondepending on opportunities available.

JJJOOOBBB PPPRRROOOFFFIIILLLEEE PART TWO


12/13

SOURCES

Charts & Graphs:http://www.tradingeconomics.com/india/exports

SOURCES FOR COVER STORY

http://www.legalindia.in/the-coal-mines-nationalisation-act-1973

http://www.thehindubusinessline.com/features/investment-world/article3848300.ece

http://www.thehindubusinessline.com/opinion/editorial/article3795838.ece?homepage=true

http://www.eng.chauthiduniya.com/chauthi-duniyas-report-vindicated-coalgate-scam-cag-underplayed-it/

http://englishfrombasics.wordpress.com/2012/08/29/indias-coalgate-scam-how-the-congress-mishandles-it/

http://www.dnaindia.com/analysis/column_ek-tha-tiger-the-other-side-of-the-coal-scam_1732473

http://indianpolitytoday.wordpress.com/tag/coalgate-scam/

http://www.youcon.in/forums/showthread.php?p=4316

http://www.newsyaps.com/coalgate-scam-is-merely-an-instance-of-corruption-cursed-india/2268/

http://www.thehindu.com/opinion/editorial/article3808402.ece

http://www.dnaindia.com/india/report_coalgate-may-further-delay-mining-approvals-report_1730986http://www.siliconindia.com/finance/news/Coalgate-to-Affect-Energy-Sector-nid-127147.html

SOURCES FOR PERSONALITIES OF THE WEEK:

http://en.wikipedia.org/wiki/Angela_Merkel

http://www.biography.com/people/angela-merkel-9406424

http://www.forbes.com/profile/angela-merkel/

http://www.mtholyoke.edu/~carve22r/classweb/eightwomen/ambiography.html

http://www.german-views.de/2011/05/13/who-is-angela-merkel/

http://lifestyle.iloveindia.com/lounge/angela-merkel-1511.html

http://www.brainyquote.com/quotes/authors/a/angela_merkel.html

http://en.wikipedia.org/wiki/Verghese_Kurien

http://www.dnaindia.com/analysis/comment_dr-verghese-kurien-inspired-by-example_1739011

http://www.iloveindia.com/indian-heroes/verghese-kurien.html

http://www.thehindu.com/opinion/op-ed/article3878213.ece

http://amoalsale.wordpress.com/2008/05/22/i-too-had-a-dream-dr-verghese-kurien-2/

CORPORATE INTELLIGENCE:http://www.moneycontrol.com/financials/pantaloonretail/balance-sheet/PR03#PR03

http://economictimes.indiatimes.com/pantaloon-retail-%28india%29-ltd/directorsreport/companyid-11339.cms

http://www.pantaloonretail.in/businesses/retail-formats.htmlhttp://en.wikipedia.org/wiki/Pantaloon_Retail_Indiahttp://www.business-standard.com/india/news/pantaloon-deal-betweenrocka-hard-place/184567/on

http://economictimes.indiatimes.com/shoppers-stop-ltd/profitandlose/companyid-2646.cmshttp://corporate.shoppersstop.com/corporate/history.aspx

http://en.wikipedia.org/wiki/Shoppers_Stophttp://www.tata.com/company/profile.aspx?sectid=f4fpW5pl8MY=

http://www.tata.com/company/profile.aspx?sectid=i5oF2R4ZfJc =

http://en.wikipedia.org/wiki/Trent_%28Westside%29http://www.moneycontrol.com/company-facts/trent/history/T04#T04

http://economictimes.indiatimes.com/trent-ltd/infocompanyhistory/companyid-13456.cmshttp://www.mywestside.com/aboutus.aspx

SOURCES FOR NEWS ANALYSIS (1-15)

1) Mid-tier IT firms are outpacing giants ET/The Hindu Business Linehttp://economictimes.indiatimes.com/tech/ites/mid-tier-it-companies-like-mindtree-persistent-systems-polaris-grow-faster-than-

biggies/articleshow/16275241.cmshttp://www.thehindubusinessline.com/industry-and-economy/info-tech/article3877236.ece

2) Cigarette maker ITC ltd takes a healthy path ET/Moneycontrol.com http://articles.economictimes.indiatimes.com/2012-09-06/news/33650030_1_itc-foods-godrej-consumer-products-chitranjan-dar

http://www.moneycontrol.com/news/wire-news/cigarette-giant-itc-makeshealthy-choice_755413.html3) Mahindra & Mahindras big expansion plans The Hindu Business Line/Reuters

http://articles.economictimes.indiatimes.com/2012-09-06/news/33649930_1_russia-for-one-model-pawan-goenka-mahindra-mahindra

http://www.thehindubusinessline.com/companies/article3865782.ecehttp://www.thehindubusinessline.com/companies/article3850572.ece

4) Telecom Commission announces 2G Spectrum auction terms BS/HT/TOIhttp://www.business-standard.com/india/news/2g-auction-made-open-for-all/485757/

http://www.hindustantimes.com/India-news/NewDelhi/Sibal-hasn-t-learnt-lesson-from-zero-loss-theory-from-2G-BJP/Article1-921458.aspx

http://timesofindia.indiatimes.com/business/india-business/Etisalat-says-will-not-bid-in-2G-auction/articleshow/16266050.cms
http://www.tradingeconomics.com/india/exportshttp://www.tradingeconomics.com/india/exportshttp://www.legalindia.in/the-coal-mines-nationalisation-act-1973http://www.thehindubusinessline.com/features/investment-world/article3848300.ecehttp://www.thehindubusinessline.com/opinion/editorial/article3795838.ece?homepage=truehttp://www.eng.chauthiduniya.com/chauthi-duniyas-report-vindicated-coalgate-scam-cag-underplayed-it/http://englishfrombasics.wordpress.com/2012/08/29/indias-coalgate-scam-how-the-congress-mishandles-it/http://www.dnaindia.com/analysis/column_ek-tha-tiger-the-other-side-of-the-coal-scam_1732473http://indianpolitytoday.wordpress.com/tag/coalgate-scam/http://www.youcon.in/forums/showthread.php?p=4316http://www.newsyaps.com/coalgate-scam-is-merely-an-instance-of-corruption-cursed-india/2268/http://www.thehindu.com/opinion/editorial/article3808402.ecehttp://www.dnaindia.com/india/report_coalgate-may-further-delay-mining-approvals-report_1730986http://www.siliconindia.com/finance/news/Coalgate-to-Affect-Energy-Sector-nid-127147.htmlhttp://en.wikipedia.org/wiki/Angela_Merkelhttp://www.biography.com/people/angela-merkel-9406424http://www.forbes.com/profile/angela-merkel/http://www.mtholyoke.edu/~carve22r/classweb/eightwomen/ambiography.htmlhttp://www.german-views.de/2011/05/13/who-is-angela-merkel/http://lifestyle.iloveindia.com/lounge/angela-merkel-1511.htmlhttp://www.brainyquote.com/quotes/authors/a/angela_merkel.htmlhttp://en.wikipedia.org/wiki/Verghese_Kurienhttp://www.dnaindia.com/analysis/comment_dr-verghese-kurien-inspired-by-example_1739011http://www.iloveindia.com/indian-heroes/verghese-kurien.htmlhttp://www.thehindu.com/opinion/op-ed/article3878213.ecehttp://amoalsale.wordpress.com/2008/05/22/i-too-had-a-dream-dr-verghese-kurien-2/http://www.moneycontrol.com/financials/pantaloonretail/balance-sheet/PR03#PR03http://economictimes.indiatimes.com/pantaloon-retail-%28india%29-ltd/directorsreport/companyid-11339.cmshttp://www.pantaloonretail.in/businesses/retail-formats.htmlhttp://en.wikipedia.org/wiki/Pantaloon_Retail_Indiahttp://www.business-standard.com/india/news/pantaloon-deal-betweenrocka-hard-place/184567/onhttp://economictimes.indiatimes.com/shoppers-stop-ltd/profitandlose/companyid-2646.cmshttp://corporate.shoppersstop.com/corporate/history.aspxhttp://en.wikipedia.org/wiki/Shoppers_Stophttp://www.tata.com/company/profile.aspx?sectid=f4fpW5pl8MYhttp://www.tata.com/company/profile.aspx?sectid=i5oF2R4ZfJchttp://en.wikipedia.org/wiki/Trent_%28Westside%29http://www.moneycontrol.com/company-facts/trent/history/T04#T04http://economictimes.indiatimes.com/trent-ltd/infocompanyhistory/companyid-13456.cmshttp://www.mywestside.com/aboutus.aspxhttp://economictimes.indiatimes.com/tech/ites/mid-tier-it-companies-like-mindtree-persistent-systems-polaris-grow-faster-than-biggies/articleshow/16275241.cmshttp://economictimes.indiatimes.com/tech/ites/mid-tier-it-companies-like-mindtree-persistent-systems-polaris-grow-faster-than-biggies/articleshow/16275241.cmshttp://www.thehindubusinessline.com/industry-and-economy/info-tech/article3877236.ecehttp://articles.economictimes.indiatimes.com/2012-09-06/news/33650030_1_itc-foods-godrej-consumer-products-chitranjan-darhttp://www.moneycontrol.com/news/wire-news/cigarette-giant-itc-makeshealthy-choice_755413.htmlhttp://articles.economictimes.indiatimes.com/2012-09-06/news/33649930_1_russia-for-one-model-pawan-goenka-mahindra-mahindrahttp://articles.economictimes.indiatimes.com/2012-09-06/news/33649930_1_russia-for-one-model-pawan-goenka-mahindra-mahindrahttp://www.thehindubusinessline.com/companies/article3865782.ecehttp://www.thehindubusinessline.com/companies/article3850572.ecehttp://www.business-standard.com/india/news/2g-auction-made-open-for-all/485757/http://www.hindustantimes.com/India-news/NewDelhi/Sibal-hasn-t-learnt-lesson-from-zero-loss-theory-from-2G-BJP/Article1-921458.aspxhttp://www.hindustantimes.com/India-news/NewDelhi/Sibal-hasn-t-learnt-lesson-from-zero-loss-theory-from-2G-BJP/Article1-921458.aspxhttp://timesofindia.indiatimes.com/business/india-business/Etisalat-says-will-not-bid-in-2G-auction/articleshow/16266050.cmshttp://timesofindia.indiatimes.com/business/india-business/Etisalat-says-will-not-bid-in-2G-auction/articleshow/16266050.cmshttp://www.hindustantimes.com/India-news/NewDelhi/Sibal-hasn-t-learnt-lesson-from-zero-loss-theory-from-2G-BJP/Article1-921458.aspxhttp://www.hindustantimes.com/India-news/NewDelhi/Sibal-hasn-t-learnt-lesson-from-zero-loss-theory-from-2G-BJP/Article1-921458.aspxhttp://www.business-standard.com/india/news/2g-auction-made-open-for-all/485757/http://www.thehindubusinessline.com/companies/article3850572.ecehttp://www.thehindubusinessline.com/companies/article3865782.ecehttp://articles.economictimes.indiatimes.com/2012-09-06/news/33649930_1_russia-for-one-model-pawan-goenka-mahindra-mahindrahttp://articles.economictimes.indiatimes.com/2012-09-06/news/33649930_1_russia-for-one-model-pawan-goenka-mahindra-mahindrahttp://www.moneycontrol.com/news/wire-news/cigarette-giant-itc-makeshealthy-choice_755413.htmlhttp://articles.economictimes.indiatimes.com/2012-09-06/news/33650030_1_itc-foods-godrej-consumer-products-chitranjan-darhttp://www.thehindubusinessline.com/industry-and-economy/info-tech/article3877236.ecehttp://economictimes.indiatimes.com/tech/ites/mid-tier-it-companies-like-mindtree-persistent-systems-polaris-grow-faster-than-biggies/articleshow/16275241.cmshttp://economictimes.indiatimes.com/tech/ites/mid-tier-it-companies-like-mindtree-persistent-systems-polaris-grow-faster-than-biggies/articleshow/16275241.cmshttp://www.mywestside.com/aboutus.aspxhttp://economictimes.indiatimes.com/trent-ltd/infocompanyhistory/companyid-13456.cmshttp://www.moneycontrol.com/company-facts/trent/history/T04#T04http://en.wikipedia.org/wiki/Trent_%28Westside%29http://www.tata.com/company/profile.aspx?sectid=i5oF2R4ZfJchttp://www.tata.com/company/profile.aspx?sectid=f4fpW5pl8MYhttp://en.wikipedia.org/wiki/Shoppers_Stophttp://corporate.shoppersstop.com/corporate/history.aspxhttp://economictimes.indiatimes.com/shoppers-stop-ltd/profitandlose/companyid-2646.cmshttp://www.business-standard.com/india/news/pantaloon-deal-betweenrocka-hard-place/184567/onhttp://en.wikipedia.org/wiki/Pantaloon_Retail_Indiahttp://www.pantaloonretail.in/businesses/retail-formats.htmlhttp://economictimes.indiatimes.com/pantaloon-retail-%28india%29-ltd/directorsreport/companyid-11339.cmshttp://www.moneycontrol.com/financials/pantaloonretail/balance-sheet/PR03#PR03http://amoalsale.wordpress.com/2008/05/22/i-too-had-a-dream-dr-verghese-kurien-2/http://www.thehindu.com/opinion/op-ed/article3878213.ecehttp://www.iloveindia.com/indian-heroes/verghese-kurien.htmlhttp://www.dnaindia.com/analysis/comment_dr-verghese-kurien-inspired-by-example_1739011http://en.wikipedia.org/wiki/Verghese_Kurienhttp://www.brainyquote.com/quotes/authors/a/angela_merkel.htmlhttp://lifestyle.iloveindia.com/lounge/angela-merkel-1511.htmlhttp://www.german-views.de/2011/05/13/who-is-angela-merkel/http://www.mtholyoke.edu/~carve22r/classweb/eightwomen/ambiography.htmlhttp://www.forbes.com/profile/angela-merkel/http://www.biography.com/people/angela-merkel-9406424http://en.wikipedia.org/wiki/Angela_Merkelhttp://www.siliconindia.com/finance/news/Coalgate-to-Affect-Energy-Sector-nid-127147.htmlhttp://www.dnaindia.com/india/report_coalgate-may-further-delay-mining-approvals-report_1730986http://www.thehindu.com/opinion/editorial/article3808402.ecehttp://www.newsyaps.com/coalgate-scam-is-merely-an-instance-of-corruption-cursed-india/2268/http://www.youcon.in/forums/showthread.php?p=4316http://indianpolitytoday.wordpress.com/tag/coalgate-scam/http://www.dnaindia.com/analysis/column_ek-tha-tiger-the-other-side-of-the-coal-scam_1732473http://englishfrombasics.wordpress.com/2012/08/29/indias-coalgate-scam-how-the-congress-mishandles-it/http://www.eng.chauthiduniya.com/chauthi-duniyas-report-vindicated-coalgate-scam-cag-underplayed-it/http://www.thehindubusinessline.com/opinion/editorial/article3795838.ece?homepage=truehttp://www.thehindubusinessline.com/features/investment-world/article3848300.ecehttp://www.legalindia.in/the-coal-mines-nationalisation-act-1973http://www.tradingeconomics.com/india/exports


13/13

5) Godrej Group exits from the food business TOI/Moneycontrol.com

http://timesofindia.indiatimes.com/business/india-business/Godrej-exits-joint-venture-with-Hersheys/articleshow/16305540.cmshttp://www.moneycontrol.com/news/business/gil-exitsgodrej-hershey-by-divesting-43-stake_755866.html

http://community.nasdaq.com/News/2012-09/hershey-to-buy-out-indian-jv-analyst-blog.aspx?storyid=1717486) Indias leading consumer durable manufacturers accuse GFK-Nielsen India of under reporting - ET

http://economictimes.indiatimes.com/news/news-by-industry/cons-products/durables/whirlpool-videocon-panasonic-miffed-with-gfk-nielsen-indias-under-reporting/articleshow/16375888.cms

http://articles.economictimes.indiatimes.com/2012-07-31/news/32961619_1_ndtv-viewership-data-television-audience-measurement

7) RBI Deputy Governor: ECB action could help trim CAD gap ET / Moneycontrol

http://articles.economictimes.indiatimes.com/2012-09-06/news/33649997_1_commodity-prices-capital-flows-current-account-deficit

http://www.moneycontrol.com/news/economy/ecbs-bond-buying-not-to-have-much-impactindia-finmin_755181.htmlhttp://timesofindia.indiatimes.com/business/international-business/ECB-agrees-new-bond-buying-

programme/articleshow/16283017.cms

8) PwC: India set to become worlds third largest carmaker by 2018 BL

http://www.thehindubusinessline.com/industry-and-economy/article3871141.ece?homepage=true&ref=wl_home

http://www.thehindubusinessline.com/companies/article3865326.ece




9) HDFC & Kotak Mahindra Bank feature in Forbes Asia Fab 50 list ET

http://articles.economictimes.indiatimes.com/2012-09-07/news/33677020_1_hdfc-bank-kotak-mahindra-bank-forbes-asia-fab

http://www.indiainfoline.com/Markets/News/HDFC-Bank-featured-in-Forbes-Asias-Fab-50-list/5496666945

http://businesstoday.intoday.in/story/11-indian-firms-in-forbes-asias-fab-50/1/187759.html

http://www.indiainbusiness.nic.in/studies_survey/banking_systemsurvey.pdf

10) Goa Suspends all mining activities in the state Reuters/ TOI/ Hindu Business Linehttp://articles.timesofindia.indiatimes.com/2012-09-09/india/33713416_1_iron-ore-goa-chinahttp://in.reuters.com/article/2012/09/10/india-ironore-goa-idINDEE8890EQ20120910

http://www.business-standard.com/india/news/indias-steel-imports-to-rise-in-2012-13-as-local-supplies-stall/186270/on 11) Government clears eight FDI proposals worth Rs 1,842.55 crore ET/BS/Hindu Business Line

http://articles.economictimes.indiatimes.com/2012-09-09/news/33713626_1_clinical-trials-cros-global-trialshttp://www.business-standard.com/generalnews/news/valuelife-only-rs-22-lakh-in-india/53534/

http://www.thehindu.com/business/Industry/article3885602.ecehttp://www.financialexpress.com/news/pharma-fdi-proposals-worth-rs-1-800-crore-get-clearance/1001302/0

12) Apple iPhone5 launched in US DNA/BS/TOIhttp://www.business-standard.com/india/news/iphone-5-could-boost-us-gdp-byto-05/486145/

http://finance.ninemsn.com.au/newsbusiness/motley/8530238/how-many-iphone-5-units-can-apple-sell-in-9-dayshttp://www.dnaindia.com/scitech/report_apple-iphone5-to-go-on-sale-on-sept-21-in-uk_1740007

http://timesofindia.indiatimes.com/tech/personal-tech/gadgets-special/iPhone-5-launched-4-inch-screen-18-thinner-20-lighter/articleshow/16372123.cms

13) Zuckerberg expresses disappointment over IPO, admits past mistakes- The Telegraph/ FT/ The Guardianhttp://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/digital-media/9538062/Facebooks-Mark-

Zuckerberg-admits-to-dissapointment-over-float.htmlhttp://www.ft.com/cms/s/0/05634e16-fc62-11e1-aef9-00144feabdc0.html

http://www.guardian.co.uk/technology/2012/sep/12/facebook-stock-price-mark-zuckerberg-interview?newsfeed=truehttp://dealbook.nytimes.com/2012/09/03/david-ebersman-the-man-behind-facebook%E2%80%99s-i-p-o-debacle/

14) Indians on an average lost 10, 000 last year due to cybercrimesBusiness Standard/ Business Todayhttp://businesstoday.intoday.in/story/cybercrime-hit-42-mn-indians-in-2011-cost-$8-bn-norton/1/187969.html

http://www.business-standard.com/india/news/cyber-crime-hits-80-indiansminute-norton-report/486172/ 15) China govt announces $127bn investment for urban rail network Peoples Daily/FT/Business Insider

http://www.businessinsider.com/bofa-china-economist-rail-stimulus-2012-9http://www.ft.com/intl/cms/s/0/94548970-fa71-11e1-b775-00144feabdc0.html#axzz26KWJeAbG

http://english.peopledaily.com.cn/90778/7939987.htmlhttp://www.foxnews.com/world/2012/09/11/speculation-surrounds-missing-chinese-vice-president/
http://timesofindia.indiatimes.com/business/india-business/Godrej-exits-joint-venture-with-Hersheys/articleshow/16305540.cmshttp://www.moneycontrol.com/news/business/gil-exitsgodrej-hershey-by-divesting-43-stake_755866.htmlhttp://community.nasdaq.com/News/2012-09/hershey-to-buy-out-indian-jv-analyst-blog.aspx?storyid=171748http://economictimes.indiatimes.com/news/news-by-industry/cons-products/durables/whirlpool-videocon-panasonic-miffed-with-gfk-nielsen-indias-under-reporting/articleshow/16375888.cmshttp://economictimes.indiatimes.com/news/news-by-industry/cons-products/durables/whirlpool-videocon-panasonic-miffed-with-gfk-nielsen-indias-under-reporting/articleshow/16375888.cmshttp://articles.economictimes.indiatimes.com/2012-07-31/news/32961619_1_ndtv-viewership-data-television-audience-measurementhttp://articles.economictimes.indiatimes.com/2012-07-31/news/32961619_1_ndtv-viewership-data-television-audience-measurementhttp://articles.economictimes.indiatimes.com/2012-09-06/news/33649997_1_commodity-prices-capital-flows-current-account-deficithttp://www.moneycontrol.com/news/economy/ecbs-bond-buying-not-to-have-much-impactindia-finmin_755181.htmlhttp://timesofindia.indiatimes.com/business/international-business/ECB-agrees-new-bond-buying-programme/articleshow/16283017.cmshttp://timesofindia.indiatimes.com/business/international-business/ECB-agrees-new-bond-buying-programme/articleshow/16283017.cmshttp://www.thehindubusinessline.com/industry-and-economy/article3871141.ece?homepage=true&ref=wl_homehttp://www.thehindubusinessline.com/companies/article3865326.ecehttp://www.thehindubusinessline.com/companies/article3865177.ecehttp://www.thehindubusinessline.com/companies/article3862906.ecehttp://www.thehindubusinessline.com/companies/article3878006.ecehttp://articles.economictimes.indiatimes.com/2012-09-07/news/33677020_1_hdfc-bank-kotak-mahindra-bank-forbes-asia-fabhttp://www.indiainfoline.com/Markets/News/HDFC-Bank-featured-in-Forbes-Asias-Fab-50-list/5496666945http://businesstoday.intoday.in/story/11-indian-firms-in-forbes-asias-fab-50/1/187759.htmlhttp://www.indiainbusiness.nic.in/studies_survey/banking_systemsurvey.pdfhttp://articles.timesofindia.indiatimes.com/2012-09-09/india/33713416_1_iron-ore-goa-chinahttp://in.reuters.com/article/2012/09/10/india-ironore-goa-idINDEE8890EQ20120910http://www.business-standard.com/india/news/indias-steel-imports-to-rise-in-2012-13-as-local-supplies-stall/186270/onhttp://www.business-standard.com/india/news/indias-steel-imports-to-rise-in-2012-13-as-local-supplies-stall/186270/onhttp://articles.economictimes.indiatimes.com/2012-09-09/news/33713626_1_clinical-trials-cros-global-trialshttp://www.business-standard.com/generalnews/news/valuelife-only-rs-22-lakh-in-india/53534/http://www.thehindu.com/business/Industry/article3885602.ecehttp://www.financialexpress.com/news/pharma-fdi-proposals-worth-rs-1-800-crore-get-clearance/1001302/0http://www.business-standard.com/india/news/iphone-5-could-boost-us-gdp-byto-05/486145/http://finance.ninemsn.com.au/newsbusiness/motley/8530238/how-many-iphone-5-units-can-apple-sell-in-9-dayshttp://www.dnaindia.com/scitech/report_apple-iphone5-to-go-on-sale-on-sept-21-in-uk_1740007http://www.dnaindia.com/scitech/report_apple-iphone5-to-go-on-sale-on-sept-21-in-uk_1740007http://timesofindia.indiatimes.com/tech/personal-tech/gadgets-special/iPhone-5-launched-4-inch-screen-18-thinner-20-lighter/articleshow/16372123.cmshttp://timesofindia.indiatimes.com/tech/personal-tech/gadgets-special/iPhone-5-launched-4-inch-screen-18-thinner-20-lighter/articleshow/16372123.cmshttp://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/digital-media/9538062/Facebooks-Mark-Zuckerberg-admits-to-dissapointment-over-float.htmlhttp://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/digital-media/9538062/Facebooks-Mark-Zuckerberg-admits-to-dissapointment-over-float.htmlhttp://www.ft.com/cms/s/0/05634e16-fc62-11e1-aef9-00144feabdc0.htmlhttp://www.guardian.co.uk/technology/2012/sep/12/facebook-stock-price-mark-zuckerberg-interview?newsfeed=truehttp://dealbook.nytimes.com/2012/09/03/david-ebersman-the-man-behind-facebook%E2%80%99s-i-p-o-debacle/http://dealbook.nytimes.com/2012/09/03/david-ebersman-the-man-behind-facebook%E2%80%99s-i-p-o-debacle/http://businesstoday.intoday.in/story/cybercrime-hit-42-mn-indians-in-2011-cost-$8-bn-norton/1/187969.htmlhttp://www.business-standard.com/india/news/cyber-crime-hits-80-indiansminute-norton-report/486172/http://www.business-standard.com/india/news/cyber-crime-hits-80-indiansminute-norton-report/486172/http://www.businessinsider.com/bofa-china-economist-rail-stimulus-2012-9http://www.ft.com/intl/cms/s/0/94548970-fa71-11e1-b775-00144feabdc0.html#axzz26KWJeAbGhttp://english.peopledaily.com.cn/90778/7939987.htmlhttp://www.foxnews.com/world/2012/09/11/speculation-surrounds-missing-chinese-vice-president/http://www.foxnews.com/world/2012/09/11/speculation-surrounds-missing-chinese-vice-president/http://english.peopledaily.com.cn/90778/7939987.htmlhttp://www.ft.com/intl/cms/s/0/94548970-fa71-11e1-b775-00144feabdc0.html#axzz26KWJeAbGhttp://www.businessinsider.com/bofa-china-economist-rail-stimulus-2012-9http://www.business-standard.com/india/news/cyber-crime-hits-80-indiansminute-norton-report/486172/http://businesstoday.intoday.in/story/cybercrime-hit-42-mn-indians-in-2011-cost-$8-bn-norton/1/187969.htmlhttp://dealbook.nytimes.com/2012/09/03/david-ebersman-the-man-behind-facebook%E2%80%99s-i-p-o-debacle/http://www.guardian.co.uk/technology/2012/sep/12/facebook-stock-price-mark-zuckerberg-interview?newsfeed=truehttp://www.ft.com/cms/s/0/05634e16-fc62-11e1-aef9-00144feabdc0.htmlhttp://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/digital-media/9538062/Facebooks-Mark-Zuckerberg-admits-to-dissapointment-over-float.htmlhttp://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/digital-media/9538062/Facebooks-Mark-Zuckerberg-admits-to-dissapointment-over-float.htmlhttp://timesofindia.indiatimes.com/tech/personal-tech/gadgets-special/iPhone-5-launched-4-inch-screen-18-thinner-20-lighter/articleshow/16372123.cmshttp://timesofindia.indiatimes.com/tech/personal-tech/gadgets-special/iPhone-5-launched-4-inch-screen-18-thinner-20-lighter/articleshow/16372123.cmshttp://www.dnaindia.com/scitech/report_apple-iphone5-to-go-on-sale-on-sept-21-in-uk_1740007http://finance.ninemsn.com.au/newsbusiness/motley/8530238/how-many-iphone-5-units-can-apple-sell-in-9-dayshttp://www.business-standard.com/india/news/iphone-5-could-boost-us-gdp-byto-05/486145/http://www.financialexpress.com/news/pharma-fdi-proposals-worth-rs-1-800-crore-get-clearance/1001302/0http://www.thehindu.com/business/Industry/article3885602.ecehttp://www.business-standard.com/generalnews/news/valuelife-only-rs-22-lakh-in-india/53534/http://articles.economictimes.indiatimes.com/2012-09-09/news/33713626_1_clinical-trials-cros-global-trialshttp://www.business-standard.com/india/news/indias-steel-imports-to-rise-in-2012-13-as-local-supplies-stall/186270/onhttp://in.reuters.com/article/2012/09/10/india-ironore-goa-idINDEE8890EQ20120910http://articles.timesofindia.indiatimes.com/2012-09-09/india/33713416_1_iron-ore-goa-chinahttp://www.indiainbusiness.nic.in/studies_survey/banking_systemsurvey.pdfhttp://businesstoday.intoday.in/story/11-indian-firms-in-forbes-asias-fab-50/1/187759.htmlhttp://www.indiainfoline.com/Markets/News/HDFC-Bank-featured-in-Forbes-Asias-Fab-50-list/5496666945http://articles.economictimes.indiatimes.com/2012-09-07/news/33677020_1_hdfc-bank-kotak-mahindra-bank-forbes-asia-fabhttp://www.thehindubusinessline.com/companies/article3878006.ecehttp://www.thehindubusinessline.com/companies/article3862906.ecehttp://www.thehindubusinessline.com/companies/article3865177.ecehttp://www.thehindubusinessline.com/companies/article3865326.ecehttp://www.thehindubusinessline.com/industry-and-economy/article3871141.ece?homepage=true&ref=wl_homehttp://timesofindia.indiatimes.com/business/international-business/ECB-agrees-new-bond-buying-programme/articleshow/16283017.cmshttp://timesofindia.indiatimes.com/business/international-business/ECB-agrees-new-bond-buying-programme/articleshow/16283017.cmshttp://www.moneycontrol.com/news/economy/ecbs-bond-buying-not-to-have-much-impactindia-finmin_755181.htmlhttp://articles.economictimes.indiatimes.com/2012-09-06/news/33649997_1_commodity-prices-capital-flows-current-account-deficithttp://articles.economictimes.indiatimes.com/2012-07-31/news/32961619_1_ndtv-viewership-data-television-audience-measurementhttp://articles.economictimes.indiatimes.com/2012-07-31/news/32961619_1_ndtv-viewership-data-television-audience-measurementhttp://economictimes.indiatimes.com/news/news-by-industry/cons-products/durables/whirlpool-videocon-panasonic-miffed-with-gfk-nielsen-indias-under-reporting/articleshow/16375888.cmshttp://economictimes.indiatimes.com/news/news-by-industry/cons-products/durables/whirlpool-videocon-panasonic-miffed-with-gfk-nielsen-indias-under-reporting/articleshow/16375888.cmshttp://community.nasdaq.com/News/2012-09/hershey-to-buy-out-indian-jv-analyst-blog.aspx?storyid=171748http://www.moneycontrol.com/news/business/gil-exitsgodrej-hershey-by-divesting-43-stake_755866.htmlhttp://timesofindia.indiatimes.com/business/india-business/Godrej-exits-joint-venture-with-Hersheys/articleshow/16305540.cms

xed ca newsletter week september 06- september 12

Documents