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Third weekly news
1. P R E S E N T E D B Y :
N I T I N G O E L
Weekly News: Economic Times
2. FII funds expected to push markets higher
(24 Oct, 2010)
Markets will remain strong in the short term
due to the bullish sentiments and strong
foreign institutional investor (FII) inflows
More stimulus expected in US & it will be
positive for the markets, especially the
emerging markets, as more fund inflows can
be expected here
Moderation in China’s GDP growth impact
seems insignificant, but one can expect
some volatility in the markets due to the
speculations on this issue
FII inflows in big ticket IPO & the markets
will move up after the Coal India IPO listing
even if a part of these funds come into the
stock markets
3. Solar energy to become must for telecom
towers (22 Oct, 2010)
The government will make it mandatory for
mobile phone towers to be powered by solar
energy
The solar power initiative for cell towers will
help cut the use of noisy, smoke-spewing diesel
gensets in tower operations
Prevent flow of government subsidy on diesel
for unintended activities
The proposed government scheme will limit
direct capital support to telecom companies to a
basic minimum for laying solar power panels
It may offer soft loans to companies under
refinancing schemes of Indian Renewable
Energy Development Agency (IREDA).
4. G20 inks pact to avert trade war
(24 Oct, 2010)
The Group of 20 major economies agreed to shun
competitive currency devaluations but stopped
short of setting targets to reduce trade imbalances
that are clouding global growth prospects
The main aim of the two days of talks was to ease
currency strains that some economists feared
could escalate into trade wars
Developing countries are worried that
Washington, by flooding the U.S. banking system
with cash, is pumping up their asset prices and
exchange rates, thus undermining the
competitiveness of the export industries on which
they rely for growth
China, among others, frets that the U.S. policy
stance will debase the dollar, the lynchpin of the
global economy
5. India, Brazil to gain most from G-20: US
(23 Oct, 2010)
Brazil and India are among those
countries that actually have the
greatest to gain, and have been
among the strongest supporters of
the G-20
G-20 needs to grapple with a set of
economic challenges facing the global
economy in a way that results in a
stronger framework for cooperative
action
it's extremely important to see the
composition of the board evolve in
line with the growing role and
responsibilities of the dynamic
emerging markets in the system