Is Mumbai Ready To Be A Global Financial Hub Or Not?

Is Mumbai ready to be a global financial hub or not? This question will be answered by the Union Cabinet shortly.

There are a number of recommendations to enable Mumbai join the league of London, New York and Singapore as one of the premier IFCs of the world, from the high-powered expert committee (HPEC) on making Mumbai an international financial centre (IFC). The report submitted to the FM (finance minister) on Tuesday will be out before the Cabinet shortly.

According to HPEC, the Indian purchases of international financial services (IFS) touched $13 billion in 2005 and are expected to be in the range of $50-70 billion by 2015. Therefore, it has been stated that “if the country does not proceed on establishment of an IFC, the revenues will go to other IFCs”.

Rupee Could Become Dictating Asian Currency

Currency of IndiaThe foreign broking firms opine that the Indian currency could become commanding currency in Asia. This reckoning came a day after an expert committee made out a case on Monday for making the rupee fully convertible before the end of 2008.

Air India-Indian Employees To Get Employee Stock Options

The Air India-IndianAir India amalgamation, blustered as the major conjoining in the Indian skies. It may bring a windfall to more than 32,000 workforces of both the companies. Post-merger, the administration is planning to give out employee stock options (Esops) to their employees.
A government official stated that the newly engaged company is named as ‘National Aviation Company,’ which owns up 7.32 crore shares, and a paid-up capital of Rs 73.25 crore.
The total number of shares has been attained after arrogating an exchange proportion of 8:1 that entails eight shares of the blending groups equivalent one share of the new entity.

Microsoft Bandages Ani Vulnerability

The Tuesdays’ Microsoft Corp.Microsoft "critical" out-of cycle security update release has fi

Rupee Surges to 8-Years High against Dollar

The Indian Rupee, on Wednesday, surged to its highest level in nearly 8 years. The Rupee traded 43 to a dollar as banks sold the US unit to raise funds to meet statutory reserve requirements.
According to reports, ending at 43.065/075 on Tuesday, the rupee was at 42.925/935 per dollar at 10:15 am on Wednesday, off an early high of 42.84, it’s strongest since June 1, 1999, when it traded at 42.83.
The Rupee has gained about 9.5 % since hitting a 3-year low last July, and the central bank is thought to be uneasy with the rupee's pace of appreciation.

Indian Hotels All Set To Buy US Hotel

According to BSE reports, the Tata Group Company, Indian Hotels, through its 100% subsidiary company, is all set to take over San Francisco based Hotel Campton Place in a deal of expected value $60

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News in Focus

Mitesh Thakkar: BUY Dabur; SELL Britannia, Bata India and Eicher Motors

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Mercedes-Benz’s upcoming all-electric EQS won’t have frunk: fresh images show

The Mercedes-Benz EQS, the German automobile manufacturer’s upcoming all-electric full-size four-door luxury sedan, will reportedly be devoid of a frunk.

Weed Vape Pens and Edibles: How Cannabis Products Help You Live a Better Life

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Sudarshan Sukhani: BUY Britannia, Cipla; SELL PVR and UBL

Technical analyst Sudarshan Sukhani has suggested two BUY Calls and two SELL Calls for today’s trading session.

Shrikant Chouhan: BUY Tech Mahindra; SELL Larsen & Toubro

Market expert Shrikant Chouhan from Kotak Securities has suggested one BUY Call and one SELL Call for today’s trading session.

Japan’s Nidec Corporation to invest $1.8 billion to establish electric motor hub in Serbia

Nidec Corporation, Kyoto, Japan-based manufacturer of electric motors, has announced plans to spend 200 billion Yen (US$1.83 billion) to set up a production hub in Europe to manufacture motors for