Global - Economy and Market
ECB mulls ultra-long loans to help banks
BRUSSELS - The European Central Bank is looking at extending the term of loans it offers banks to 2 or even 3 years to try to prevent the euro zone crisis precipitating a credit crunch that chokes the bloc's economy, people familiar with the matter say.
S&P cuts Egypt credit ratings after violence
Standard & Poor's lowered Egypt's credit rating on Thursday to B+ from BB- with a negative outlook. It affirmed the B short-term rating, saying the political and economic outlook had deteriorated following violence that has killed 39 people in five days.
Asian shares, euro fall on Europe deadlock,European shares fall on Merkel comments
TOKYO - Asian shares and the euro both hovered near seven-week lows on Friday as European officials failed to soothe investor fears that the euro zone's debt crisis could trigger a credit crunch if funding costs run out of control.
The Nikkei share average held near a two-and-a-half-year low on Friday as statements by German and French officials convinced markets that leaders were no closer to a consensus on how to contain the region's debt crisis.
European shares fell for the sixth consecutive session in low volume on Thursday after German Chancellor Angela Merkel restated her position against changing the role of the European Central Bank to ease the euro zone debt crisis.
Oil climbs on stock draws, France moots Iran import ban
LONDON - Oil prices rose modestly in holiday-thinned trading on Thursday after France said it was pushing for a Europe-wide ban on crude imports from Iran, ratcheting up geopolitical risk in a tightening market.
India - Economy and Market
FDI in retail: Farmers gain, but SMEs & kiranas complain
With the entry of foreign supermarket players, farmers across India's six lakh villages stand to gain from greater market access, higher profits, better technology and direct linkage with consumers.
Food inflation slips to four-month low of 9.01%
Food inflation fell to nearly four-month low of 9.01% for the week ended November 12, prompting Finance Minister Pranab Mukherjee to express the hope that the overall price situation will improve in the coming weeks.
Food inflation, measured by the Wholesale Price Index (WPI), was 10.63% in the previous week. It was 11.38% in the corresponding period in 2010.
Sept-qtr GDP growth seen slowest in over 2 years
REUTERS FORECAST - The Indian economy probably grew an annual 6.9 percent in the quarter through September, at its weakest pace in more than two years, the median forecast from a poll of 22 economists showed.
India's industrial output grew by a meagre 1.9 percent in September from a year earlier, the slowest pace in two years.
The Indian services sector contracted at its fastest pace in over two years during October, knocked by a slump in global demand and tight monetary policy.
The partially convertible rupee hit a record low of 52.73 against the U.S. dollar on Nov. 22, as investors fled risky assets and its recent weakness is expected to spike India's import bill and in turn, push up prices.
The Reserve Bank of India may hold rates in its December policy review as growth risks from a slowing economy and a fragile global economic environment take centre stage. It had said in the October review that further rate increases may not be needed, if inflation starts to ease from December.
Indian exports in October probably slowed to just over 10 percent from a high of 82 percent in July, reflecting risks to growth coming from the euro zone beset with sovereign debt woes.
2,000 Crore bonanza for NHAI: Amid slowdown, highways are going for premium
The National Highways Authority of India (NHAI) has got over Rs 2,000 crore as premium from awarding highway projects during the current financial year and to the authority's surprise some of the nondescriptive stretches have gone for premium. Highways sector is emerging as a sunrise one amid Indian economy is coming under slowdown grip.
Technology News –
TCS targeting 1000 customers in SMB segment this year
KOCHI: Tata Consultancy Services (TCS), which launched a first of its kind fully integrated information technology solution for Small and Medium Business (SMB) segment recently, today said it was targeting to reach over 1000 customers in the segment nationally this year, a top official today said.
iON, TCS's strategic unit for small and medium business, presently has over 250 customers who are experiencing the benefits of increased efficiencies, predictability of technology, talent on call and an expanded customer based following the end-to-end integrated suite of cloud based business solutions, V Ramaswamy Global Head iON told reporters here. The third generation service model allows SMBs to capture growth through seamless technology deployment.
To provide its customers with seamless service, iON has created an eco-system of over 100 Cloud Service Partners across India. iON's industry solutions are currently available for Manufacturing, Textile, Education, Retail, Restaurant, Wellness and Professional services.
AT&T braces for T-Mobile deal collapse
LONDON/FRANKFURT - AT&T said it would take a $4 billion charge in case its takeover of T-Mobile USA fails, a tacit recognition of the dwindling chances that the deal will get through U.S. regulators who say it would destroy jobs and curb competition.
Alibaba.com posts slowest quarterly growth in almost 2 yrs
SHANGHAI - Alibaba.com, China's largest e-commerce firm, posted an 11.9 percent rise in quarterly net profit, its slowest growth in nearly two years, with the company raising concerns due to a weak trade outlook stemming from debt woes in Europe and the United States.
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