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Maturity
is the capacity to endure uncertainty.
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Nod
for Rs 20,000 Tax-free infra bonds
The
government gave its Nod for LIC, IDFC, IFCI and some
non-banking financial companies to issue Rs 20,000 tax-free
infrastructure bonds.
Loan
against gold
HDFC
Bank provides loans against gold.
They
claim the key features being- Quick with minimum
documentation. Secure, flexible renewal and repayment.
They
offer loan up to Rs 10 lac and loan up to 95% of the gold
value at an attractive rate of interest. No monthly
installment.
Minimum
documentation are required - Identity proof, Address proof,
Signature proof and 2 recent photographs. For more details
contact the branch of HDFC Bank.
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Business
News.............Neeta
Nair
Tax-free
Car sales down
Car
sales in 2008-09 are expected to be flat, or negative, after
recording double-digit growth in 2007 and 2008. Car sales,
including those of utility vehicles, touched 15.47 lakh
units, a 12% growth this fiscal.
Steel
companies enhance volume
India's
largest steel makers are operating at full capacity after a
5-month lull that saw them cutting production, raising hopes
that an economic recovery may just be round the corner.
Tax-free
bonds to fund drug research venture
Indian
government to issue bonds up to Rs 10 k crore till 2020. The
government aims to have one out of every five new drugs
discovered by 2020 to be from India.
TRAI
slashes fee for Telcos
Cell
bills to dip by 20%. Local and STD tariffs to fall 5-20%.
For operators, revenue losses of hundred of crores. However
calls to India to cost marginally more. But international
calls may become cheaper.
Sebi
sets ball rolling for peer review of audit firms
India's
capital market regulator Sebi has set up a panel of audit
firms to review the working papers of statutory auditors of
sensex and Nifty companies for FY08 and for the first 3
quarters of the current financial year.
Indian
buys Vienn's historic bookshop
Vienna's
historic bookshop that faced bankruptcy was bought by an
Indian Shipping magate, Vikram Naik, 53. It is the talk of
the town here for having rescued Vienna's British Bookshop
out of bankruptcy.
Indian
Strawberry farmers happy
Indian
exports saw a big jump last year to 600 tonnes from 200
tonnes in 2006 and a Belgian firm has placed an order for
1000 tonnes this year. Growers are expecting some orders
from Sri Lanka and Australia.
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Facts
The
great Indian middle class (urban) has grown from 11.6
million to 27.5 million in the last decade
.
Uttar
Pradesh has the largest number of registered papers in
India.
India’s
very rich have grown from 0.5 million to 2.1million in ten
years
.
These
are the consuming classes and constitute two-thirds of the
mass market for FMCGs
.
In
a month, the urban household spends the most on food (above
Rs 3,000)
.
Servicing
loans and interest payments
(Rs 1,500 and above)
are next only to food and utility bills and equals the
amount spent on education
.
The
upmarket family spends almost Rs 800 on eating out and Rs
500 on entertainment
.
At
the bottom of the budget comes
hygiene (Rs 300) and newspapers and magazines (Rs
200)
.
Bank
surveys say 43%
of the urban population has taken loans and 22% would like
to take loans.
Source:
NCAER and Platinum 2001, ORG-Marg
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India's
export from the export oriented units and the special
economic zones are growing by about 25 % and are expected to
cross Rs. 50,000 crores during the financial year 2004-05.
According
to analyst firm IDC, worldwide personal computer shipments
in 2004 rose 14.7 percent year - on - year to touch 177.5
million units, but it is expected to slow down to 10 percent
in 2005.
According
to a study conducted by US-based Access Markets
International Partners Inc., the medium scale sector in
India spent $2.91 billion in 2004 on IT products and
services, recording a 15 % growth over the same period in
2003.
According
to the spices board, chilli exported a record shipment of
1.14 lakh tonnes valued at Rs.421.21 crores during
April-January 2004-05 as against a target of 75,000 tonnes,
valued at Rs.315 crores.
Export
of petroleum products jumped 66.1 percent to 1.454 million
tonnes in January 2005 when compared with 8,75,700 tonnes of
products in the corresponding period last year.
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Energy
Consumption
The
global oil demand to grow by 5%
Demand
for oil and natural gas will grow by nearly 3 % in 2005, but
not as fast as demand for electricity and coal. According to
the Economist, coal is back in vogue as energy-hungry
economics with coal reserves are seeking to reduce their
dependence on imported oil.
Energy
Consumption (Kg. oil per head)
North
America...............................8307
Western
Europe............................4117
Japan.........................................4079
Transition
Economies.....................4047
Latin
America...............................1278
Middle
East & Africa......................1160
Asia
(excl. Japan)..........................728
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