News - Finance

India Inc On Global Expansion, Outbound Merger And Acquisition (M&A) Deals Up 38 Fold During H1 FY ’11: ASSOCHAM

Mumbai, Oct 20, 2010 (Washington Bangla Radio / pressreleasepoint) Despite the decline in inbound M&A deals, the outbound deals increased substantially from USD 527.81 million to USD 20769.88 million, cornering a share of 39.43 per cent of the total deals during April-September 2010. The major inbound M&A deals occurred in telecom, metal & mining and energy sectors during the period.

The study undertaken by the ASSOCHAM reveals that in the first half of FY’ 11, there has been an increase of 38 fold in the outbound M&A activities by registering 59 deals worth USD 20769.88 million as against the corresponding period of last year.

Dun & Bradstreet Economy Forecast No change expected in Repo & Reverse Repo rates

Mumbai, India, Oct 19, 2010 (Washington Bangla Radio / pressreleasepoint) Real Economy:Expected improvement in domestic demand conditions coupled with sustained infrastructure investment is likely to support overall industrial activity going forward. Nonetheless, muted exports demand might limit the growth in the manufacturing industries. Going forward, although growth in IIP is expected to remain in single digit, it is expected to average at 8.5% during H2 FY11 above the 5.6% growth recorded in Aug-10. D&B expectsIIPto have grown by6.0-7.0%during Sep-10.

Price Scenario:The headline inflation is expected to moderate further owing to the waning low base effect and the lagged impact of monetary tightening measures taken by the RBI in the first half of the current fiscal. Prices of primary food articles which were at an alarmingly high level in the first half of FY11 are also expected to witness some moderation given the better prospects of agricultural output consequent to the substantial improvement in area sown under Kharif crop during this season. D&B expects theWPIinflation to be around8.0-8.2%during Oct-10.

Central Bank of India and Bajaj Finance Limited announce tie up arrangement for Retail & Small & Medium Enterprises SME Lending

Pune, Maharashtra, October 21, 2010 /Washington Bangla Radio / India PRwire/ -- Central Bank of India, a leading public sector bank and Bajaj Finance Limited, a leading non bank finance company and on Wednesday announced that they were forging a unique alliance to co-finance Retail and SME loans.

As part of the tie-up arrangement, Bajaj Finance Limited & Central Bank Of India will co-finance its retail and SME loans. These assets would be partially assigned to Central Bank of India on a periodic basis. The administration and servicing of these loans will be managed by Bajaj Finance Limited. The tie-up is a first of its kind in the industry and draws upon the strengths of both partners for mutual benefit.

Reform Program Targeting Small and Medium Enterprises in Viet Nam to Deliver Jobs, Growth

MANILA, PHILIPPINES, Oct 18, 2010 (Washington Bangla Radio) The Asian Development Bank (ADB) is extending $40 million equivalent  to Viet Nam for introducing reforms that untangle a knot of red tape and make doing business simpler and quicker for small and medium-sized enterprises (SMEs) - the lifeblood of the country's private sector.

ADB's Board of Directors today approved the loan for the first phase of the Second Small and Medium-Sized Enterprises Development Program. It follows an earlier ADB loan for an initial reform program that has helped slash the time needed to register a business, and supported a sharp rise in new enterprises and private sector jobs. SMEs make up a large majority of all registered enterprises in Viet Nam and most new jobs in the last decade were generated by the sector.

Unemployment Numbers Rise Again in September: closer look at unemployment numbers & new workers trying to enter job market

Grand Rapids, MI, October 14, 2010 (Washington Bangla Radio / I-Newswire) - Recent headlines across the country proclaimed further job losses in the U.S. for the month of September. According to a brief article in The New York Times that same day, most economists expected the latest ADP National Employment Report to reflect some 18,000 new jobs instead of a loss of 39,000 jobs.

Dennis Tubbergen, CEO of USA Wealth Management, LLC, a federally registered investment advisory company, keeps a close eye on many topics of interest in his financial blog and his monthly newsletter update Moving Markets. Unemployment numbers for the U.S. remain one of his primary concerns, an area Tubbergen ties closely to the equally hard-hit housing market.

Pakistan Floods cost a staggering $9.7 Billion - World Bank / Asia Development Bank Report

BRUSSELS, BELGIUM, 14 October 2010 (Washington Bangla Radio) The floods that swept across Pakistan since July caused an estimated $9.7 billion in damage to infrastructure, farms, homes, as well as other direct and indirect losses, the Asian Development Bank (ADB) and the World Bank (WB) said today.

The estimate was presented in the Damage and Needs Assessment (DNA), a survey conducted nationwide by ADB and the World Bank to assess the extent of the flood damage. The concluded survey was earlier submitted to the Government of Pakistan and today made public at the Friends of Democratic Pakistan (FoDP) meeting in Brussels, Belgium.

Motilal Oswal managed India Realty Excellence Fund invests in Godrej Properties Ltd. subsidiary for Bangalore residential space

CALCUTTA, Oct 12, 2010 (Washington Bangla Radio / 1888pressrelease) The subsidiary will undertake development of a large high end Residential project. IREF has invested INR 45 crores and would invest another INR 5 crores in second tranche for equity stake of 49.9% in the SPV. The project is in an extremely prime location at Hebbal junction in Bangalore.

State Bank Of India SBI Life posts Net Profit of Rs 114 Cr in Q1

Mumbai, India (Washington Bangla Radio / prurgent) : SBI Life Insurance, a leading private life insurer, announced a profit of Rs.114 Crores, for the quarter ended June 2010, registering an impressive profit growth of 195% over the corresponding period last year. The total premium of the company grew by 9.5% to Rs. 1,707 Crores during the period. The new business premium collected, during the first quarter, stands at Rs. 976 Crores. Rapidly expanding its presence, the company has introduced 118 branches, recruited 830 employees and added over 5,000 Insurance Advisors.

• Expands by adding 118 new branches
• Asset under Management increases by 65%
• Total Premium Collection grows by 9.5%

Commenting on the results, Mr. Rao, MD & CEO of SBI Life Insurance said “We will focus on building capacity through branch expansion, manpower recruitment and inducting Insurance Advisors so that we are able to serve customers across geographies. Holistically enhancing our performance that balances profitability and growth will remain a key business driver. Our unique multi-distribution model coupled with SBI’s strong brand equity has been an enabler of sustained all round business performance.”

Earnings and Outlook: GOOG, GE, INTC, JPM, AEMC, FBCD, BZTG, WLSI, RNNM

New York, NY, Oct 11, 2010 (Washington Bangla Radio / Big names like Google and GE will report earnings next week but the focus will remain on the possibility of more cheap cash flowing in from the Federal Reserve. These 2 factors could combine to provide a surge in equities over the next 10 days.

After Friday’s mildly anemic payrolls report, the increased likelihood the Fed will be forced to do
more to stimulate the economy has investors keen to get in on the action.

Investment Tip - Contra Funds giving higher returns than major indices in performance race

Funds based on contrarian calls (or contra funds) invest in stocks that are overlooked by the market or are waiting to be 'discovered' by investor.

Mumbai, Maharashtra, October 5, 2010 /Washington Bangla Radio - India PRwire/ -- Fund managers, who have chosen to bet on stocks different from their peers, have been fairly successful in their picks. While none of the contrarian fund managers can claim a spectacular performance, a good number of them have managed to beat benchmark indices by a decent margin. Six out of eight 'contra' funds have earned money for investors.

Funds based on contrarian calls (or contra funds) invest in stocks that are overlooked by the market or are waiting to be 'discovered' by investor. It is only when institutional investors take interest in a stock that its price begins to appreciate. In theory, contra investing is clearly opposite to value investing.

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