Signs of stabilization in economies: G-8 nations

Reduce overall tax rates, simplify computation: D Rajiv Krishnan

Overall industrial growth likely to pick up: Sharekhan

Railway revenue earnings up by 3.34% during Apr-May `09

Govt. working on new procurement policy for SMEs

Assocham seeks extension of 5yr tax holiday to 5 star hotels

RBI, SEBI to work jointly to address regulatory gaps

ADB approves USD 3.4 bn funds to developing nations

Dark clouds over economy seem to have lifted: AEGON Religare

RBI & SEBI approves launch of interest rate futures

Fiscal deficit to exceed target of 5.5% in interim budget

Commerce minister meets USTR to strengthen bilateral relationship

Coal, environment ministries to speed up approval process

FinMin likely to abolish CTT in upcoming Budget

Steel prices to dip by 5% in three months: CMIE

According to Dr Marc Faber, editor of the Gloom Boom Doom Report, gold and stocks move in distinctive long-term trends. Over the last 110 years, these trends has staged six major phases:

• 1900-1929: stocks outperform gold
• 1929-1932: gold outperforms stocks
• 1932-1966: stocks outperform gold
• 1966-1980: gold outperforms stocks
• 1980-2000: stocks outperform gold
• 2000-???: gold outperforms stocks 

You hear a lot about China's 1.3 billion citizens, but India is a close second with 1.1 billion residents.

Out of those 1.1 billion people is a large, educated, skilled, English-speaking workforce and one of the largest pools of scientists and engineers in the world.

 India is growing … FAST. India's economy has averaged 9.5 percent growth over the last five years and is expected to grow by 6.5 percent this year.

That's why India is the fourth-largest economy in terms of purchasing power and the 10th most industrialized country in the world.

 The 30 largest companies in the Mumbai Sensex index increased their earnings at an average rate of 35 percent in the first quarter. Of 800 publicly-traded companies, average earnings growth is a blistering 17 percent.

 India has a well established and vibrant banking system, its National Stock Exchange is the third-largest in the world, a strong, independent judicial system, a free and vibrant press, a sophisticated legal and accounting system, and a business-friendly protection of intellectual property rights.

India imported 20 tonnes of gold in April after recording zero imports in the previous two months, though prices were ruling high in the range of 15,000 per 10 grams in domestic markets.

However, imports of 20 tonnes in April are less compared with 24 tonnes in the same month a year ago.

• Sensex loses 5%, creates Dark Cloud Cover on Weekly chart.

• Satyam's Raju declares biggest corporate scam, stocks loses 86%.

• Raju / CFO taken to jail, board suspended / replaced.

• Satyam's Auditor's role comes under scanner for not detecting fraudulent a/cs.

• Satyam removed from Sensex / Nifty.

• Exports dip in 'Dec, creating the first quarterly drop in seven years.

• German billionaire Merckel kills himself on growing burden of debt.

• India drops 18 places in Global Innovation Index.

• Govt hints at fuel price cut.

• Pak to conduct its own investigations, rules out handing over the suspects.

Minister for Corporate Affairs PC Gupta said the government has elected three members to the board of Satyam: HDFC chief Deepak Parekh, former Nasscom president Kiran Karnik and former Sebi member C Achuthan. Further appointment, Gupta said, will be made subsequently as required.

# Govt eases ceiling on ECB borrowings as part of the second stimulus package.

# IIFCL allowed to raise Rs 30,000 crores via tax free bonds.

# Recapitalize PSU banks by Rs 20,000 cr in two years.

# Custom exemption on zinc and ferro alloys has been withdrawn

# NBFCs in infrastructure sector can access ECBs.

# FII investment limit in corporate bonds raised from 6 billion to 15 billion dollars.

# Govt extends tax incentive scheme for exporters up to Dec 31.

# State governmnet allowed to market borrowing of 0.5 per cent of GDP.

US Equities? Down 40%
Foreign Equities? Most Down over 40%
Oil? Down 60% for the year ($WTIC)
Gold? Up about 2% for the year ($GOLD)

New Delhi: The customers of ICICI Bank will get their New Year gift in the form of cut in interest rates, its CEO and Managing Director K V Kamath said today. "We are looking at cutting interest rates very early in January for our housing and other loan customers," Kamath said.

He said that the extent of the rate cut is being calibrated and would be announced soon. Earlier this month, ICICI had reduced home loan rates for new customers by up to 1.5 percentage point. Currently the Prime Lending Rate of the bank stands at 17.25 per cent.

SBI, the largest bank, has cut its prime lending rate by 75 basis points to 12.25 per cent with effect from January 1.Along with this, HDFC has also cut its prime lending rate by 50 basis points. Earlier in the day, Punjab National Bank and Bank of Baroda, leading public sector lenders said they would reduce their prime lending rates by 50 and 75 basis points respectively, with effect from January 1.

Britain's economy contracts 0.6 percent in 3rd quarter, heading for official recession

LONDON (AP) -- The British economy contracted by more than previously thought during the third quarter of 2008, revised official figures showed Tuesday, stoking market expectations that the Bank of England may cut interest rates to near zero percent in the new year.

WASHINGTON (Reuters) - The economy shrank at a 0.5 percent annual pace in the third quarter as expected after consumers and businesses cut spending and the country's recession gathered steam, government data showed on Tuesday.

Sensex up 4%, completes 7 weeks holding its 'Oct lows.

Crude oil hits 4-year low near $35.

Rate of Inflation tumbles to 9-month low of 6.84% due to oil.

Adv-Tax collections from top 100 firms dips by 21%.

Excise Duty collection dips 15%, Customs Duty 1% during 'Nov.

Satyam shareholders rebel against its Maytas investment, deal put off.

US Fed cuts interest rates to 0-0.25%.

PSU banks reduce home loan rates to 9.25% for loans below Rs. 20 lakh.

HDFC cuts home loan rates by 50 BPS.

SBI cuts PLR bt 0.75%, deposit rates by 1%.

India keeps all options open against Pak after terrorist strike.

Indian stock marker regulator will take a decision soon on whether to allow the National Stock Exchange (NSE), the country's largest bourse, to start trading in Nifty futures early, its chairman said on Friday.

"We are looking at reaching a decision fairly quickly," Securities and Exchange Board of India (SEBI) Chairman C.B. Bhave told reporters on the sidelines of a conference.

The NSE, which opens at 9:55 a.m., had applied to the regulator seeking approval to start trading in Nifty contracts at 8 a.m. Its Nifty futures start trading in Singapore early.

"Generally, as a regulator, we don't have a particular view when the market should be operating. The issue should normally be best left to to the market players and exchange," he said, adding that some market participants had indicated to SEBI an advancement of timing may not be desirable.

The regulator is also looking at relaxing some restrictions in recently launched currency futures trading, Bhave said.

"There are a lot of restrictions in terms of who can participate, to the extent they can participate and so on. We're looking at whether these restrictions need to be relaxed," he said.