A modestly smaller than previously expected budget bottom line in 2009/10 means the federal government is on course for a surplus in 2012/13, Treasurer Wayne Swan says.
Mr Swan and new Finance Minister Penny Wong today released the final budget outcome for the past financial year, which showed a $54.8 billion deficit, or 4.2 per cent of gross domestic product (GDP).
The result was a $2.3 billion improvement on the $57.1 billion deficit estimated at the time of the May budget.
Mr Swan and Senator Wong said the budget outcome was in ‘‘far better condition’’ than other comparable nations.
‘‘(It puts) us in a strong position to deliver a surplus in 2012/13,’’ they said in a joint statement.
Earlier surplus?
But Mr Swan refused to speculate about returning the budget back to surplus even earlier on the back of surging commodity prices and the end of a long-running drought.
‘‘We have put our forecast out there, we stick with our forecasts,’’ he later told reporters in Canberra.
Mr Swan said recent economic commentary had suggested the government was being too optimistic about forecasts for commodity prices.
‘‘We don’t count on commodity prices staying high forever,’’ he said, noting that the government’s commodities forecaster had predicted a rise in iron ore prices.
The Australian Bureau of Agricultural and Resource Economics (ABARE) said in its September quarter report on Tuesday that commodity export earnings are forecast to reach a record high $215 billion in 2010/11, on the back of higher prices for crops, iron ore and coal.
Mr Swan noted the irony of questions about an earlier return to budget surplus, given that many commentators had questioned the government’s ability to achieve a surplus in 2012/13.
‘‘It’s a new paradigm,’’ Senator Wong quipped during the press conference with Mr Swan.
The government
ALEEM AHMAD
PGDM SEM-1
deepak kumar jha(pgdm)1ST
Library catalog
From Wikipedia, the free encyclopedia
The card catalog at Yale University's Sterling Memorial Library is hardly used, but adds to the austere atmosphere.
The card catalog was a familiar sight to library users for generations, but it has been effectively replaced by the online public access catalog (OPAC). Some still refer to the online catalog as a "card catalog". Some libraries with OPAC access still have card catalogs on site, but these are now strictly a secondary resource and are seldom updated. Many of the libraries that have retained their physical card catalog post a sign advising the last year that the card catalog was updated. Some libraries have eliminated their card catalog in favour of the OPAC for the purpose of saving space for other use, such as additional shelving.
Contents[hide] |
[edit] Goal
Charles Ammi Cutter made the first explicit statement regarding the objectives of a bibliographic system in his Rules for a Printed Dictionary Catalog in 1876. According to Cutter, those objectives were1. to enable a person to find a book of which either (Identifying objective)
- the author
- the title
- the subject
- the category
2. to show what the library has (Collocating objective)
- by a given author
- on a given subject
- in a given kind of literature
- as to its edition (bibliographically)
- as to its character (literary or topical)
[edit] Types
Traditionally, there are the following types of catalog:- Author card: a formal catalog, sorted alphabetically according to the authors' or editors' names of the entries.
- Title catalog: a formal catalog, sorted alphabetically according to the title of the entries.
- Dictionary catalog: a catalog in which all entries (author, title, subject, series) are interfiled in a single alphabetical order. This was the primary form of card catalog in North American libraries just prior to the introduction of the computer-based catalog.
- Keyword catalog: a subject catalog, sorted alphabetically according to some system of keywords.
- Mixed alphabetic catalog forms: sometimes, one finds a mixed author / title, or an author / title / keyword catalog.
- Systematic catalog: a subject catalog, sorted according to some systematic subdivision of subjects. Also called a Classified catalog.
- Shelf list catalog: a formal catalog with entries sorted in the same order as bibliographic items are shelved. This catalog may also serve as the primary inventory for the library.
[edit] History
A card catalog in the University Library of Graz
- c. 245 BC: Callimachus' so-called Pinakes (Ancient Greek: Πίνακες "tables"), in which the works of the authors were organized in alphabetical order, was the first ever library catalogue.[1]
- c. 800: Library catalogues are introduced in the House of Wisdom and other medieval Islamic libraries where books are organized into specific genres and categories.[2]
- 1595: Nomenclator of Leiden University Library appears, the first printed catalog of an institutional library.
- 1674: Thomas Hyde's catalog for the Bodleian Library.
[edit] Cataloging rules
Cataloging (or cataloguing) rules have been defined to allow for consistent cataloging of various library materials across several persons of a cataloging team and across time. Users can use them to clarify how to find an entry and how to interpret the data in an entry. Cataloging rules prescribe- which information from a bibliographic item is included in the entry;
- how this information is presented on a catalog card or in a cataloging record;
- how the entries should be sorted in the catalog.
Currently, most cataloging rules are similar to, or even based on, the International Standard Bibliographic Description (ISBD), a set of rules produced by the International Federation of Library Associations and Institutions (IFLA) to describe a wide range of library materials. These rules organize the bibliographic description of an item in the following areas: title and statement of responsibility (author or editor), edition, material-dependent information (for example, the scale of a map), publication and distribution, physical description (for example, number of pages), series, notes, and standard number (ISBN). The most commonly used set of cataloging rules in the English speaking world are the Anglo-American Cataloguing Rules, 2nd Edition, or AACR2 for short. In the German-speaking world there exists the Regeln für die alphabetische Katalogisierung, abbreviated RAK. AACR2 has been translated into many languages, however, for use around the world. AACR2 provides rules for descriptive cataloging only and does not touch upon subject cataloging.
Library items that are written in a foreign script are, in some cases, transliterated to the script of the catalog. Library catalogs originated as manuscript lists, arranged by format (folio, quarto, etc.) or in a rough alphabetical arrangement by author. Printed catalogs, sometimes called dictionary catalogs enabled scholars outside a library to gain an idea of its contents. These would sometimes be interleaved with blank leaves on which additions could be recorded, or bound as guardbooks in which slips of paper were bound in for new entries. Slips could also be kept loose in cardboard or tin boxes, stored on shelves. The first card catalogs appeared in the nineteenth century, enabling much more flexibility, and towards the end of the twentieth century the OPAC was developed (see below).
[edit] Cataloging terms
- Main entry – generally refers to the first author named on the item. Additional authors are added as "added entries." In cases where no clear author is named, the title of the work is considered the main entry.
[edit] Sorting
In a title catalog, one can distinguish two sort orders:- In the grammatical sort order (used mainly in older catalogs), the most important word of the title is the first sort term. The importance of a word is measured by grammatical rules; for example, the first noun may be defined to be the most important word.
- In the mechanical sort order, the first word of the title is the first sort term. Most new catalogs use this scheme, but still include a trace of the grammatical sort order: they neglect an article (The, A, etc.) at the beginning of the title.
In some catalogs, person's names are standardized, i. e., the name of the person is always (cataloged and) sorted in a standard form, even if it appears differently in the library material. This standardization is achieved by a process called authority control. An advantage of the authority control is that it is easier to answer question 2 (which works of some author does the library have?). On the other hand, it may be more difficult to answer question 1 (does the library have some specific material?) if the material spells the author in a peculiar variant. For the cataloguer, it may incur (too) much work to check whether Smith, J. is Smith, John or Smith, Jack.
For some works, even the title can be standardized. The technical term for this is uniform title. For example, translations and reeditions are sometimes sorted under their original title. In many catalogs, parts of the Bible are sorted under the standard name of the book(s) they contain. The plays of William Shakespeare are another frequently cited example of the role played by a uniform title in the library catalog.
Many complications about alphabetic sorting of entries arise. Some examples:
- Some languages know sorting conventions that differ from the language of the catalog. For example, some Dutch catalogs sort IJ as Y. Should an English catalog follow this suit? And should a Dutch catalog sort non-Dutch words the same way?
- Some titles contain numbers, for example 2001: A Space Odyssey. Should they be sorted as numbers, or spelled out as Two thousand and one?
- de Balzac, Honoré or Balzac, Honoré de? Ortega y Gasset, José or Gasset, José Ortega y?
In a subject catalog, one has to decide on which classification system to use. The cataloguer will select appropriate subject headings for the bibliographic item and a unique classification number (sometimes known as a "call number") which is used not only for identification but also for the purposes of shelving, placing items with similar subjects near one another, which aids in browsing by library users, who are thus often able to take advantage of serendipity in their search process.
[edit] Online catalogs
Online cataloging has greatly enhanced the usability of catalogs, thanks to the rise of MAchine Readable Cataloging = MARC standards in the 1960s. Rules governing the creation of catalog MARC records include not only formal cataloging rules like AACR2 but also special rules specific to MARC, available from the Library of Congress and also OCLC. MARC was originally used to automate the creation of physical catalog cards; Now the MARC computer files are accessed directly in the search process. OPACs have enhanced usability over traditional card formats because:- The online catalog does not need to be sorted statically; the user can choose author, title, keyword, or systematic order dynamically.
- Most online catalogs offer a search facility for any word of the title; the goal of the grammatic word order (provide an entry on the word that most users would look for) is reached even better.
- Many online catalogs allow links between several variants of an author name. So, authors can be found both under the original and the standardised name (if entered properly by the cataloguer).
- The elimination of paper cards has made the information more accessible to many people with disabilities, such as the visually impaired, wheelchair users, and those who suffer from mold allergies.
[edit] Standardization
BRAZIL FIRMS RAISES $70 BN
BY VIVEK KUMAR Brazilian state oil company Petrobras raised $70 billion (R3.2 lakh crore) on Thursday in the world's biggest share offering, giving the company the financial muscle it needs to tap vast offshore oil reserves. The Rio de Janeiro-based company sold 1.87 billion new preferred shares at 26.30 reais
each ($1=1.72 reais), the company said in a regulatory filing. It sold 2.4 billion new common — or voting — shares at 29.65 reais each.
The cash will help fund the world's largest oil exploration plan, which at $224 billion for the 2010-2014 period aims to turn Brazil into a major energy exporter.
Uncertainty that the offering might not come off had brought a prolonged sell-off of Petrobras shares that shaved more than $70 billion off its market value. But the optimism displayed by investors seeking exposure to one of the world's largest oil finds in recent decades outweighed worries about growing state involvement in the company's affairs.
"The deal priced at a very tight discount, which is comforting to know because the market expected it to price lower," said Marcio Macedo, who manages about $40 million of stocks for Sao Paulo-based Humaita Investimentos.
The record-setting stock offering, which was larger than what the company originally planned but fell short of the maximum it had filed to sell, had total demand of $140 billion. The bids included $98 billion from existing shareholders and $42 billion from institutional investors, a source with knowledge of the transaction said.
Sovereign wealth funds from the Middle East and Asia were among the investors buying into the offering
RAISE OF SENSEX
BY PANKAJ KUMAR Indian economy grew 8.8 percent in the first quarter of fiscal 2010-11. Finance minister said the GDP growth would be above 8.75 percent in the current fiscal.
At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty also soared past psychological level of 6,000-points-mark. The index closed 0.99 percent higher at 6,018.3 points Friday.
Broader markets also saw healthy buys. The BSE midcap ended 1.04 percent up and the BSE smallcap index 1.05 percent higher on the last trading day of this week.
The market breadth was positive with 1,836 scrips advancing, compared to 1,131 stocks declining and 117 remaining unchanged Friday.
The major gainers on the Sensex were DLF, up 5.18 percent at Rs.365.65; Hindustan Unilever, up 3.93 percent at Rs.314.65; Hero Honda, up 3.85 percent at Rs.1,865.15; and Bharti Airtel, up 3.56 percent at Rs.368.
Among the losers were: Jindal Steel, down 1.19 percent at Rs.692.70; Sterlite Industries, down 0.23 percent at Rs.172.35; Tata Motors, down 0.17 percent at Rs.1,070.35; and TCS, down 0.11 percent at Rs.931.45.
Other Asian markets were mixed, after the job data from the US showed a rise in number of unemployment claims. The Japan's Nikkei closed 0.99 percent lower at 9,471.67 points.
Hong Kong's Hang Seng ended 0.33 percent up at 22,119.43 points. The American and European markets ended the week on positive note.
Dow Jones Industrial index closed 1.86 percent higher at 10,860. S&P 500 advanced 2.12 percent to close at 1,148.67 and Nasdaq closed 2.33 percent higher at 2,381.22.
BY ANKIT KUMAR PGDM 1st 2010
Equities NSE started trading in the equities segment (Capital Market segment) on November 3, 1994 and within a short span of 1 year became the largest exchange in India in terms of volumes transacted. Trading volumes in the equity segment have grown rapidly with average daily turnover increasing from Rs.17 crores during 1994-95 to Rs.14,148 crores during FY 2007-08. During the year 2007-08, NSE reported a turnover of Rs.3,551,038 crores in the equities segment. The Equities section provides you with an insight into the equities segment of NSE and also provides real-time quotes and statistics of the equities market. In-depth information regarding listing of securities, trading systems & processes, clearing and settlement, risk management, trading statistics etc are available here. |
DEEPAK KUMAR JHA(PGDM 1st)
'India is world No. 21 in outward FDI'
 |
Posted: Thursday, Sep 23, 2010 at 1805 hrs IST
Updated: Thursday, Sep 23, 2010 at 1825 hrs ISTl
'India is world No. 21 in outward FDI'
| |
Posted: Thursday, Sep 23, 2010 at 1805 hrs IST
Updated: Thursday, Sep 23, 2010 at 1825 hrs IST
Washington: India has emerged as the world's 21st largest outward investor, with an investment of over USD 75 billion across the world over the past decade, a Columbia University report has said.
"India is now the world's 21st largest outward investor, which is significant given its historically minuscule foreign direct investment (FDI) outflows," said the Vale Columbia Center on Sustainable International Investment in its report released on Outward FDI from India.
"Annual FDI outflows have jumped fifty-fold after 2000, and Indian firms have invested over USD 75 billion overseas in the past decade, in some cases to attain global status by acquiring world-leading firms," the report said.
Substantial improvements in the country's economic performance and the competitiveness of its firms and their strategy, resulting from ongoing liberalisation in economic and outward FDI (OFDI) policies, made these developments possible, it said.
Indian firms now invest across a wide variety of sectors and countries, departing from their historical focus on trading and textile investments in developing countries.
Following the 25 per cent crisis-induced drop in Indian OFDI in 2009, Indian firms are once again increasing their overseas investment, including through mergers and acquisitions (M&As), the report said.
"India¿s OFDI should continue its rapid upward trend over the next few years, as more companies seek to transfer their products and service innovations to new markets, and acquire strategic international know-how and market shares, particularly in crisis-hit developed economies," it said.
Another report by the Columbia university released yesterday said that India is now the world's 13th largest FDI host country.
With 2008 inflows of USD 42 billion and 2009 inflows of USD 27 billion, it is also a global top three preferred investment destination.
"Notable liberalisations in FDI policy and in several economic sectors, a globally competitive workforce, and rapid GDP and market growth are the main drivers of foreign investment in India.
"Yet, equity caps limit the size of potential new inflows, while national security concerns might prompt more oversight of FDI approval processes," it said.
India had received some USD 169 billion of cumulative FDI inflows by the end of 2009 since it first opened itself to foreign direct investors in 1991, it said. "Inflows rocketed to USD 20 billion in 2006, further doubling to USD 42 billion in 2008, transforming India into the world's 13th largest host to FDI globally," it said.
"India is now the world's 21st largest outward investor, which is significant given its historically minuscule foreign direct investment (FDI) outflows," said the Vale Columbia Center on Sustainable International Investment in its report released on Outward FDI from India.
"Annual FDI outflows have jumped fifty-fold after 2000, and Indian firms have invested over USD 75 billion overseas in the past decade, in some cases to attain global status by acquiring world-leading firms," the report said.
Substantial improvements in the country's economic performance and the competitiveness of its firms and their strategy, resulting from ongoing liberalisation in economic and outward FDI (OFDI) policies, made these developments possible, it said.
Indian firms now invest across a wide variety of sectors and countries, departing from their historical focus on trading and textile investments in developing countries.
Following the 25 per cent crisis-induced drop in Indian OFDI in 2009, Indian firms are once again increasing their overseas investment, including through mergers and acquisitions (M&As), the report said.
"India¿s OFDI should continue its rapid upward trend over the next few years, as more companies seek to transfer their products and service innovations to new markets, and acquire strategic international know-how and market shares, particularly in crisis-hit developed economies," it said.
Another report by the Columbia university released yesterday said that India is now the world's 13th largest FDI host country.
With 2008 inflows of USD 42 billion and 2009 inflows of USD 27 billion, it is also a global top three preferred investment destination.
"Notable liberalisations in FDI policy and in several economic sectors, a globally competitive workforce, and rapid GDP and market growth are the main drivers of foreign investment in India.
"Yet, equity caps limit the size of potential new inflows, while national security concerns might prompt more oversight of FDI approval processes," it said.
India had received some USD 169 billion of cumulative FDI inflows by the end of 2009 since it first opened itself to foreign direct investors in 1991, it said. "Inflows rocketed to USD 20 billion in 2006, further doubling to USD 42 billion in 2008, transforming India into the world's 13th largest host to FDI globally," it said.
More from Economy
Washington: India has emerged as the world's 21st largest outward investor, with an investment of over USD 75 billion across the world over the past decade, a Columbia University report has said.
"India is now the world's 21st largest outward investor, which is significant given its historically minuscule foreign direct investment (FDI) outflows," said the Vale Columbia Center on Sustainable International Investment in its report released on Outward FDI from India.
"Annual FDI outflows have jumped fifty-fold after 2000, and Indian firms have invested over USD 75 billion overseas in the past decade, in some cases to attain global status by acquiring world-leading firms," the report said.
Substantial improvements in the country's economic performance and the competitiveness of its firms and their strategy, resulting from ongoing liberalisation in economic and outward FDI (OFDI) policies, made these developments possible, it said.
Indian firms now invest across a wide variety of sectors and countries, departing from their historical focus on trading and textile investments in developing countries.
Following the 25 per cent crisis-induced drop in Indian OFDI in 2009, Indian firms are once again increasing their overseas investment, including through mergers and acquisitions (M&As), the report said.
"India¿s OFDI should continue its rapid upward trend over the next few years, as more companies seek to transfer their products and service innovations to new markets, and acquire strategic international know-how and market shares, particularly in crisis-hit developed economies," it said.
Another report by the Columbia university released yesterday said that India is now the world's 13th largest FDI host country.
With 2008 inflows of USD 42 billion and 2009 inflows of USD 27 billion, it is also a global top three preferred investment destination.
"Notable liberalisations in FDI policy and in several economic sectors, a globally competitive workforce, and rapid GDP and market growth are the main drivers of foreign investment in India.
"Yet, equity caps limit the size of potential new inflows, while national security concerns might prompt more oversight of FDI approval processes," it said.
India had received some USD 169 billion of cumulative FDI inflows by the end of 2009 since it first opened itself to foreign direct investors in 1991, it said. "Inflows rocketed to USD 20 billion in 2006, further doubling to USD 42 billion in 2008, transforming India into the world's 13th largest host to FDI globally," it said.
"India is now the world's 21st largest outward investor, which is significant given its historically minuscule foreign direct investment (FDI) outflows," said the Vale Columbia Center on Sustainable International Investment in its report released on Outward FDI from India.
"Annual FDI outflows have jumped fifty-fold after 2000, and Indian firms have invested over USD 75 billion overseas in the past decade, in some cases to attain global status by acquiring world-leading firms," the report said.
Substantial improvements in the country's economic performance and the competitiveness of its firms and their strategy, resulting from ongoing liberalisation in economic and outward FDI (OFDI) policies, made these developments possible, it said.
Indian firms now invest across a wide variety of sectors and countries, departing from their historical focus on trading and textile investments in developing countries.
Following the 25 per cent crisis-induced drop in Indian OFDI in 2009, Indian firms are once again increasing their overseas investment, including through mergers and acquisitions (M&As), the report said.
"India¿s OFDI should continue its rapid upward trend over the next few years, as more companies seek to transfer their products and service innovations to new markets, and acquire strategic international know-how and market shares, particularly in crisis-hit developed economies," it said.
Another report by the Columbia university released yesterday said that India is now the world's 13th largest FDI host country.
With 2008 inflows of USD 42 billion and 2009 inflows of USD 27 billion, it is also a global top three preferred investment destination.
"Notable liberalisations in FDI policy and in several economic sectors, a globally competitive workforce, and rapid GDP and market growth are the main drivers of foreign investment in India.
"Yet, equity caps limit the size of potential new inflows, while national security concerns might prompt more oversight of FDI approval processes," it said.
India had received some USD 169 billion of cumulative FDI inflows by the end of 2009 since it first opened itself to foreign direct investors in 1991, it said. "Inflows rocketed to USD 20 billion in 2006, further doubling to USD 42 billion in 2008, transforming India into the world's 13th largest host to FDI globally," it said.
More from Economy
Posted: Friday, Sep 24, 2010 at 1409 hrs IST
Updated: Friday, Sep 24, 2010 at 1409 hrs IST
Font Size
BHEL in JV talks with SAIL, Vizag Steel
| |
Posted: Friday, Sep 24, 2010 at 1409 hrs IST
Updated: Friday, Sep 24, 2010 at 1409 hrs IST
New Delhi: State-owned BHEL said it is in talks with SAIL and Vizag Steel to tie up for manufacturing high grade steel, while Korean steel maker Posco may join the proposed joint venture company as a technology partner.
"We intend to partner with SAIL or any other manufacturer like Vizag Steel PLant for CRGO (Cold rolled Grain Oriented) steel," CMD BHEL B P Rao said.
This is in ideal stage, we want this joint venture mainly to secure supplies for CRGO steel, Rao said, adding that Department of Heavy Industries (DHI) had convened meetings between BHEL and SAIL for the proposed joint venture.
"A third partner may also join the JV firm, SAIL is in talks with Posco for providing technology," Rao added. On being asked whether the technology partner would be offered any stake in the company, Rao said, "the matter is at a very nascent stage...I cannot comment right now."
BHEL's move is aimed at securing supplies of essential raw material like CRGO steel, alloy steels, castings and forgings etc.
"Raw material like alloy steel, CRGO steel are not available here, the demand is there...we want to get the supplies," Rao added.
BHEL, which is engaged in manufacturing power equipment has an orderbook of Rs 1,50,000 crore.
The company, which currently manufactures equipment that can generate 15,000 MW of electricity, is now in the process of ramping up this capacity to 20,000 MW by March 2012.
"We would be a 20,000 MW company by March 2012," he said.
BHEL paid Rs 407 crore towards final dividend for the year 2009-10 to the Ministry of Heavy Industries and Public Enterprises.
"We intend to partner with SAIL or any other manufacturer like Vizag Steel PLant for CRGO (Cold rolled Grain Oriented) steel," CMD BHEL B P Rao said.
This is in ideal stage, we want this joint venture mainly to secure supplies for CRGO steel, Rao said, adding that Department of Heavy Industries (DHI) had convened meetings between BHEL and SAIL for the proposed joint venture.
"A third partner may also join the JV firm, SAIL is in talks with Posco for providing technology," Rao added. On being asked whether the technology partner would be offered any stake in the company, Rao said, "the matter is at a very nascent stage...I cannot comment right now."
BHEL's move is aimed at securing supplies of essential raw material like CRGO steel, alloy steels, castings and forgings etc.
"Raw material like alloy steel, CRGO steel are not available here, the demand is there...we want to get the supplies," Rao added.
BHEL, which is engaged in manufacturing power equipment has an orderbook of Rs 1,50,000 crore.
The company, which currently manufactures equipment that can generate 15,000 MW of electricity, is now in the process of ramping up this capacity to 20,000 MW by March 2012.
"We would be a 20,000 MW company by March 2012," he said.
BHEL paid Rs 407 crore towards final dividend for the year 2009-10 to the Ministry of Heavy Industries and Public Enterprises.
NAME-DEEPAK KUMAR JHA
Course-pgdm(1sem) 2010-12
Job Posting
Job Posting
Font Size
Feedback
DiscussDiscount Shopping Freelance Jobs China Wholesale Wholesale Job Posting
Mumbai: After a weak start, the Bombay Stock Exchange benchmark Sensex bounced back by gaining over 80 points in the first one-hour of trade on selective buying in realty, consumer durables and metal stocks amid short-covering by speculators.
The Sensex, which had lost nearly 28 points when the markets opened, rebounded by 80.43 points at 19,941.44 level at 1000 hrs, supported by recovery in select heavy-weight stocks.
Similarly, the broad-based National Stock Exchange index Nifty rose 18.35 points to 5,977.90, after losing over 8 points in the opening session.
Brokers said besides emergence of buying at lower levels, recovery on the other Asian bourses also helped the Sensex reverse the weak trend
JITENDRA KUMAR SINGH
PGDM 1
New Delhi: The government will decide on the price band for Coal India's up to $3 billion initial public offering by the second week of October, a senior official at the state-run firm said on Friday.
Earlier this week the share sale, expected to be the biggest by an Indian firm, received a go-ahead from the markets regulator, sources said.
A decision on issuing shares to anchor investors will be taken "before that", N.C. Jha, Director (Technical) at Coal India, told reporters on the sidelines of a conference.
The Coal India IPO will open on Oct. 18 and close on Oct. 21
jitendra kumar singh
PGDM SEMESTER 1
ICICI Bank unit raises $50-mn for PE fund
| |
Posted: Friday, Sep 24, 2010 at 1416 hrs IST
Updated: Friday, Sep 24, 2010 at 1416 hrs IST
New Delhi: ICICI Investment Management, a subsidiary of ICICI Bank, has raised USD 50 million (about Rs 225 crore) for its Emerging India Fund, a private equity player that is looking at total size of USD
The Indian rupee equivalent of USD 50 million has been raised from domestic investors as part of the fund's first closure, the bank said in a statement.
The fund seeks to invest in growth capital of mid market and emerging corporates primarily through equity and equity-linked instruments. It will invest across sectors including segments related to services, consumption and infrastructure development.
The investors to the fund are mostly domestic institutional and corporate investors.
It is targeting a final closure at USD 100 million equivalent and is in discussions with various institutional investors, the bank said.
The fund will primarily focus on investments in the sub USD 10 million segment, it added.
NAME-DEEPAK KUMAR JHA
COURSE-PGDM(1sem)2010-12
The Indian rupee equivalent of USD 50 million has been raised from domestic investors as part of the fund's first closure, the bank said in a statement.
The fund seeks to invest in growth capital of mid market and emerging corporates primarily through equity and equity-linked instruments. It will invest across sectors including segments related to services, consumption and infrastructure development.
The investors to the fund are mostly domestic institutional and corporate investors.
It is targeting a final closure at USD 100 million equivalent and is in discussions with various institutional investors, the bank said.
The fund will primarily focus on investments in the sub USD 10 million segment, it added.
NAME-DEEPAK KUMAR JHA
COURSE-PGDM(1sem)2010-12
obama
Home Depot remodels its business
The home-improvement giant is moving to get its house in order.
Will Home Depot heal from the housing collapse?
But the crisis didn't turn out to be all bad. In the slowdown the nation's leading home-improvement retailer worked to fix its core business by boosting the efficiency of the firm's supply chain and upgrading customer service.
Of course, those efforts may not bear fruit until housing fully heals. And who knows how long that will take?
Gold breaks through $1,300 an ounce
NEW YORK (CNNMoney.com) -- Gold futures for December delivery hit a record trading high of $1,301.30 an ounce Friday morning. Investors are running to the precious metal as jitters about the recovery and currency market volatility increase.
After reaching the intraday peak, futures slightly backed off but continue to hover close to the $1,299.90 mark, up $3.60. Gold's last record high was reached on Sept. 22, when the metal hit a peak of $1,298 an ounce.
PGDM-SEM-1
finance
Stocks poised for gains By CNNMoney.com staffSeptember 24, 2010: 5:28 AM ET LONDON (CNNMoney.com) -- U.S. stocks were headed for a higher open Friday, although trading could be choppy with gold reaching a record high of $1,300 an ounce. Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were all higher ahead of the opening bell. Futures measure current index values against perceived future performance. * * * * Email * Print * Comment Wall Street had a rough session Thursday, ending with a late-stage slide. Investors have been fleeing risky stocks in favor of safe-haven investments like gold recently, fueling the precious metal's record run. Economy: Investors will look to a report on new home sales, due out at 10 a.m. ET. The report comes a day after existing home sales came in slightly above expectations. Companies: HSBC chief Michael Geoghegan is poised to leave the bank as part of a management shake-up, according to published reports. World markets: European shares declined in morning trading. Britain's FTSE 100 fell 0.3%. Germany's DAX and France's CAC 40 were down roughly 0.4%. In Asia, Japan's Nikkei index tumbled nearly 1%. The Shanghai Composite and Hang Seng in Hong Kong ended the day with slight gains. Currencies and commodities: The dollar rose against the British pound and Japanese yen but fell versus the euro. Gold futures for December delivery hit a record trading high of $1,300 an ounce. In recent trading, gold was up $3.10 at $1,299.40 an ounce. To top of page
vikash kumar singh
pgdm 1
Hyundai's small car 'well on course'
| |
Posted: Friday, Sep 24, 2010 at 1506 hrs IST
Updated: Friday, Sep 24, 2010 at 1506 hrs IST
Chennai: Hyundai Motor India (HMI), the country's second largest car maker, said its plan for launching a small car in the Indian auto-market is "well on course".
The Korean company which has presence in the A segment with flagship hatchback Santro and the i10 has been planning to launch the small car to compete with Maruti Suzuki's Alto.
The development of the small car has been taken up at the Research and Development centre in Korea.
"It is on course... The development is going on in (South) Korea....," HMI Director (Sales and Marketing) Arvind Saxena said.
He said the company is "well progressing" on the launch of the car and it was going on "as per plan". However, he declined to comment on the timeline set for its launch.
The proposed small car would be positioned below the company's existing flagship model, Santro, and compete with the Alto from Maruti Suzuki. Alto is the largest selling model in India with average sales of over 20,000 units per month.
On their future plans, HMI CEO H W Park said the company is working on a strategy to launch new models every two years. "We will introduce two or three models in the next one year...," he said.
He said their premium SUV (Sports Utility Vehicle) Santa Fe would be launched in India next month.
On export front, Saxena said the company would witness a "minimal dip" this year in the overseas sales due to the slump witnessed in majority of the markets.
"Last year 2.60 lakh units were exported (to various markets).. this year we are expecting it to be around 2.50 lakh units," he said.
Saxena and Park were here to introduce the company's upgraded hatchback Next Gen i10 in the Tamil Nadu market.
The company has spent around Rs 400 crore for upgradation of the car which boasts aggressive and all-new front design, a new chrome radiator grill, 3D wraparound headlamps with multi-reflector chrome surround fog lamps.
The 1.1 litre iRDE2 Next Gen i 10 comes with a introductory price tag of Rs 3.48 lakh (Ex-showroom Chennai) while the 1.2 litre Kappa engine is offered at Rs 4.14 lakh, he added.
Hyundai Motor India currently has two manufacturing facilities at Sriperumbudur near here. Besides i10, the company retails Santro, mid-size sedan Accent Executive, premium sedan Verna Transform, luxury sedan Sonata. The company exports to nearly 110 countries and this year it would be increased to 118 countries, they said
jitendra kumar singh
pgdm 1 sem
The Korean company which has presence in the A segment with flagship hatchback Santro and the i10 has been planning to launch the small car to compete with Maruti Suzuki's Alto.
The development of the small car has been taken up at the Research and Development centre in Korea.
"It is on course... The development is going on in (South) Korea....," HMI Director (Sales and Marketing) Arvind Saxena said.
He said the company is "well progressing" on the launch of the car and it was going on "as per plan". However, he declined to comment on the timeline set for its launch.
The proposed small car would be positioned below the company's existing flagship model, Santro, and compete with the Alto from Maruti Suzuki. Alto is the largest selling model in India with average sales of over 20,000 units per month.
On their future plans, HMI CEO H W Park said the company is working on a strategy to launch new models every two years. "We will introduce two or three models in the next one year...," he said.
He said their premium SUV (Sports Utility Vehicle) Santa Fe would be launched in India next month.
On export front, Saxena said the company would witness a "minimal dip" this year in the overseas sales due to the slump witnessed in majority of the markets.
"Last year 2.60 lakh units were exported (to various markets).. this year we are expecting it to be around 2.50 lakh units," he said.
Saxena and Park were here to introduce the company's upgraded hatchback Next Gen i10 in the Tamil Nadu market.
The company has spent around Rs 400 crore for upgradation of the car which boasts aggressive and all-new front design, a new chrome radiator grill, 3D wraparound headlamps with multi-reflector chrome surround fog lamps.
The 1.1 litre iRDE2 Next Gen i 10 comes with a introductory price tag of Rs 3.48 lakh (Ex-showroom Chennai) while the 1.2 litre Kappa engine is offered at Rs 4.14 lakh, he added.
Hyundai Motor India currently has two manufacturing facilities at Sriperumbudur near here. Besides i10, the company retails Santro, mid-size sedan Accent Executive, premium sedan Verna Transform, luxury sedan Sonata. The company exports to nearly 110 countries and this year it would be increased to 118 countries, they said
jitendra kumar singh
pgdm 1 sem
NEW CHARGE HIT ACCOUNT
Bank fee Whac-a-Mole: New charges hit accounts
NEW YORK (CNNMoney.com) -- Bank fees: They're like a game of Whac-a-Mole. The minute one set is banned, a whole new set pops up.
In August, the Card Act banned a variety of fees -- including certain overdraft and excessive late charges. But one month later, banks are increasing existing fees and finding creative new ways to charge customers more for credit cards, so-called "free" checking accounts and banking services.
"It's like you've got a sinking boat, where you plug one hole and another one springs up," said Curtis Arnold, founder of CreditRatings.com. "You can shut down one egregious fee, but that doesn't mean other fees aren't just going to start popping up elsewhere."
Here's a bank-by-bank look of what to expect.
Bank of America: Just last week, Bank of America said it plans to raise minimum balance requirements over the next 12 months and charge a monthly account fee for customers who can't maintain those balances.
"We currently estimate over time through these and other items we are working on that we will have the ability to offset a substantial majority of the revenue from the various regulatory changes," Bank of America (BAC, Fortune 500) CEO Brian Moynihan said in a presentation to investors last week.
Customers enrolled in the lender's new eBanking checking account will be charged $8.95 per month if they opt to receive paper statements and visit tellers instead of banking online. Since the launch of eBanking in August, nearly half of all new checking accounts fall into this category. Earlier this year, annual fees ranging from $29 to $99 were applied to a variety of Bank of America credit card accounts.
Wells Fargo: Remember how Wells Fargo (WFC, Fortune 500) fought a pitched battle with Citigroup for the right to merge with Wachovia? Well, Wachovia customers are now being fully integrated -- including being charged Wells' higher fees. Receive images of cancelled checks with your paper statement? $2. Use your savings as overdraft protection? $10 fee every time you make a transfer.
Previously, these fees already existed for Wells Fargo customers but were only applied to a very small number of Wachovia customers. HSBC: HSBC (HBC) is charging a $19 annual fee for customers who open a line of credit beginning July 1 and an additional $10 every day they use the credit line as protection from overdrawing their checking account.
"This is not unusual in the industry and our competitors have been charging similar such fees for some time," an HSBC spokesman said. "The change aligns us with our competitors."Other banks let customers link their savings and checking accounts as an alternative option for overdraft protection. But HSBC doesn't, meaning customers will either pay a fee to open a line of credit (if they have good enough credit to qualify), pay a fee for overdrafting their account or get their card declined.
Citibank: Citi (C, Fortune 500) announced changes to its checking accounts this month and will now assess monthly maintenance fees of up to $30, depending on the checking account and whether the customers meet certain requirements -- such as making a certain number of monthly transactions or carrying a specific minimum balance.
Monthly maintenance fees were previously as low as $3, depending on the account. Earlier this year, Citi imposed a $60 annual fee that could be waived if customers spent about $2,400 a year. But the new regulations banning inactivity fees led the bank to eliminate the fee soon after it was introduced.
American Express: American Express (AXP, Fortune 500) has added $29 fees to more of its cards. As of July, the new fees affect customers with Delta, JetBlue, Hilton and Starwood cobranded cards who want to recoup reward points they forfeited for paying a bill late.
The point-forfeiture fee already existed on other cards, so the bank said it wanted to be "consistent and have it across cards."Customers jumping ship
Because of how competitive the already cutthroat industry has become, banks have to be careful how far they go -- or they risk losing desperately-needed customers."They have to be really careful about rolling anything new out in this environment," said Peter Garucci, a spokesman for the American Banking Association. "They've always competed for the same number of wallets, but if the number of wallets is smaller because of the down economy and new rules, the competition is going to increase and the last thing they're going to want to do is make their customers mad."
Consumers should take advantage of this increased competition to negotiate fees with their banks.
"Fees especially are very much negotiable, so if you see something show up in your account that you don't like, call and complain, and threaten to take your business elsewhere," Arnold added. "Chances are if there's a fee or interest rate you don't like one place, you'll find something better somewhere else." 
Varun kumar Tiwari
PGDM-SEM-1