Markets welcome clarity on capital gains tax
(Business Standard
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31/08/2010)
The delay in implementing the Direct Tax Code (DTC) by a year and clarity on capital gains tax will give breathing space to stock markets, say experts. The Government on Monday tabled the much-awaited DTC in the Lok Sabha. It is proposed to raise the
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JGBs bounce on Nikkei, supply woes limit flattening
(Guardian.co.uk
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31/08/2010)
Japanese government bonds gained on Tuesday, bouncing back from the previous day's losses, as Tokyo's Nikkei slipped on a fall on Wall Street and on a yen that remained bullish despite easing by the Bank of Japan. * Gains by U.S. Treasuries, which
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Yen near 15-year peak after BOJ move fizzles
(Guardian.co.uk
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31/08/2010)
The yen clung near a 15-year high against the dollar on Tuesday after the Bank of Japan's easing steps the previous day failed to scare investors from betting on it rising further. With mounting U.S. economic worries seen keeping investors shunning risk
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U.K. Consumer Confidence Rises In August
(RTT News
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31/08/2010)
Consumer sentiment in the United Kingdom rose unexpectedly in August, results of a survey showed Tuesday. The Consumer Confidence Index increased to minus 18 from minus 22 in July, market research group GfK NOP said. Economists had forecast a decline in
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Nifty to get strong support at 5315 level
(The Economic Times
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31/08/2010)
Nifty active futures ended at 5429.60, at a strong premium of over 14 points on Monday. India VIX, which measures the immediate expected volatility, climbed to close at 18.36 on Monday, after touching an intra-day low of 16.60. Nifty PCR OI stands at
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US stocks tumble on recovery fears
(Business Times
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31/08/2010)
US stocks slumped Monday over weak consumer spending figures and ahead of key data later this week expected to show the US economic recovery is slowing down. The Dow Jones Industrial Average was down 140.92 points (1.39 per cent) to 10,009.73 in closing
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HK stocks fall 1pc at break
(The Hindu Business Line
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31/08/2010)
Hong Kong shares fell 1.08 percent by the break as traders followed a Wall Street tumble and heavy losses in Tokyo amid fears over the global economy. The Hang Seng Index shed 224.17 points to 20,513.05. Turnover was HK$25.08 billion.
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Manufacturing powers GDP growth up 8.8%
(The Hindu Business Line
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31/08/2010)
The Indian economy grew by 8.8 per cent during April-June quarter of 2010-11 fiscal against 6 per cent in the corresponding period previous fiscal on the back of robust manufacturing growth. However, certain sectors like financial services res trained
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Swiss UBS Consumption Indicator Continues To Rise In July
(RTT News
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31/08/2010)
The UBS Consumption Indicator for Switzerland continued to rise in July, increasing to a value of 1.86 from its June level of 1.80. Among the five sub-indicators of the consumption index, a high number of new car registrations contributed to the increase
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S. Korea's Industrial Output, Business Sentiment Rises
(RTT News
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31/08/2010)
South Korea's industrial production rose for the thirteenth consecutive month in July, official figures showed Tuesday. Production in the mining and manufacturing sector increased 15.5% year-on-year following a revised 17.1% increase in June, the
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China should improve GDP quality
(Steelguru
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31/08/2010)
It is reported that China GDP for the second quarter of 2010 overtook that of Japan as the second largest in the world attracting worldwide attention and provoking considerable discussion. However, many scholars consider it worth noting that although the
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Japanese auto output in July up by 15pct YoY
(Steelguru
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31/08/2010)
According to preliminary data released by 8 major automakers, Japan's domestic passenger car production expanded by 15% YoY to 826,000 vehicles in July 2010. Output was buoyed by government tax breaks and subsidies for purchases of environmentally
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Indian economy grows by 8.8% in April-June
(Business Standard
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31/08/2010)
Economy grew by an impressive 8.8 per cent during the quarter ended June on the back of robust manufacturing growth. However, certain sectors like financial services restrained the growth in economy, which had recorded 6 per cent growth rate in
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Bonds drop on growth forecast, inflation concern
(The Economic Times
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31/08/2010)
Ten-year bonds declined, snapping a two-day gain, before data on Tuesday that is forecast to show the economy expanded at the fastest pace in two-and-a-half years in the second quarter. Yields also climbed on concern the Reserve Bank of India will
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Baoshan sees steel prices dropping before demand rebounds
(Bloomberg
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31/08/2010)
Chinese steel giant Baoshan Iron & Steel Co said that steel prices are likely to decline before demand revives in the fourth quarter. Mr Ma Guoqiang GM of Baoshan in an online investors conference. Said that “Domestic prices are under pressure to trend
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Outstanding for MFIs to touch Rs 23,000 cr in FY10
(Business Standard
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31/08/2010)
Total loan outstanding of micro finance institutions are likely to be around Rs 23,000 crore by the end of March 2011, a 78 per cent rise over the corresponding period last year. “The total number of beneficiaries will reach around 35 million which is 52
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China stocks close 0.5pc lower
(Reuters
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31/08/2010)
China's key stock index fell 0.5 percent, posting a nearly flat performance for August, with concerns about the global economy offsetting strong corporate earnings and prompting investors to sell financials such as newly-listed Everbright Bank. The
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Yili net profit in H1 up by 36pct
(Xinhua
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31/08/2010)
Xinhua reported that China Yili Industrial Group one of the country leading dairy producers H1 year net profit rose 35.58% due to improved quality control and supply chain management. The company said in a statement filed with the Shanghai Stock Exchange
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Spain June Current Account Deficit Widens
(RTT News
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31/08/2010)
Spanish current account deficit widened in June from the previous year, a report by the Bank of Spain showed on Tuesday. The current account deficit totaled EUR 3.58 billion in June, widening from EUR 3.48 billion deficit last year. This was mainly due
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Hang Seng Index falls 1pc
(Reuters
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31/08/2010)
Hong Kong stocks ended lower, posting a 2.5 percent drop for the month as a cloudy outlook for growth in developed economies pushed investors to the sidelines. The Hang Seng Index fell 1 percent on the day, or 200.73 points, to 20,536.49, closing
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Realty, consumer durables pull Sensex down 196 points
(The Hindu Business Line
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31/08/2010)
The Bombay Stock Exchange benchmark Sensex was down over 190 points in the mid-session on Tuesday on heavy selling by funds and retail investors in oil & gas, realty, metal and consumer durables stocks amid weak global markets. The GDP growth of 8.8 per
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Rupee erases gains; shares, dollar eyed
(The Economic Times
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31/08/2010)
The Indian rupee erased early gains and was trading largely steady on Monday afternoon, closely mirroring moves in the local stocks, but the dollar's losses versus major units may limit a sharp fall, dealers said. * At 2:18 p.m., the partially
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German unemployment falls for 14th month running
(Guardian.co.uk
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31/08/2010)
German unemployment fell in August to its lowest since November 2008, laying the ground for further growth in consumer spending that the economy needs for a more balanced rebound. The Federal Labour Office said on Tuesday unemployment fell by a
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European shares fall on growth worries; autos slip
(Guardian.co.uk
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31/08/2010)
European shares fell in early trade on Tuesday and remained on track to end the month lower as growing concerns about the pace of global economic recovery kept investors on the sidelines. Carmakers were among the top decliners as investors feared a
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Misys appoints Mohammad Harb to lead Islamic banking division
(CPIFINANCIAL
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31/08/2010)
Harb will be responsible for promoting Misys' Islamic banking solutions to existing and potential clients in the Middle East and Africa. With more than 13 years of IT experience in the banking sector, Harb has in-depth knowledge and expertise in
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