Mark Robinson has been appointed as a New CEO of Citi south Asia, replacing Sanjay Nayar, who is taking charge of Indian operations of world's leading buyout firm; Kohlberg Kravis Roberts & Co (KKR). Nayar was heading the Indian operations since 2002.
KKR is interested to expand its base in India in private equity, infrastructure, mezzanine and distressed funds. It has already invested over $1 billion in the Flextronics International and Bharti Infratel, the telecom tower arm of Bharti Airtel.
The wholesale price index (WPI) based inflation rate continued to decline in the second consecutive week and now stands at 8.90 per cent. The inflation was 8.98 per cent a week ago. Declining trend brings a respite for the central government, which is facing flak for rising prices. 
The state government of UP is likely to give pay scale to school teacher in accordance with the recommendations of the Sixth Pay Commission. After the pay hike, school teachers would get pay scale equal to central government employees. 
The Securities and Exchange Board of India, on Thursday said that short term selling is not a cause of market meltdown. SEBI Chairman futher added that it would not stop short selling as a regulator at this point of time. 
BJP’s senior leader and NDA’s Prime Ministerial candidate, L.K. Advani stressed the need to take hard steps for country’s economic growth. He warned that India can face meltdown, causing large scale lay-offs following the impact of the global slowdown. India needs stern actions and willpower to bring the situation to normal level. He was speaking in a meeting with top corporate leaders to discuss impact of global slowdown. 
