Global - Economy and Market
Initial unemployment claims hit lowest rate since April 2008, Consumer confidence perks up, house prices sag
First-time jobless claims in the U.S. declined last week by 4,000, to 364,000, the Labor Department said. That's the smallest total since April 2008. Improving labor market conditions lifted U.S. consumer confidence to an eight month high in December, but persistently weak house prices remain an obstacle to faster economic growth.
Optimism about U.S. economy keeps oil futures elevated
Oil futures are priced near a two-week high as traders speculate that the U.S. recovery is gaining strength and growth will stimulate demand for energy. In electronic trading on the New York Mercantile Exchange, crude oil for February delivery was worth $99.53 a barrel Tuesday. Futures gained 6.6% last week
Brazil replaces U.K. as world's sixth-largest economy
Brazil's economy is the world's sixth biggest, replacing Britain, the Center for Economics and Business Research reported. The research organization confirmed a forecast by the International Monetary Fund.
Spain will suffer another recession, official says
Spain's economy is contracting this quarter and will shrink further in 2012, sending the nation into recession, Economy Minister Luis de Guindos said. The nation's gross domestic product, fourth largest in the eurozone, will fall 0.2% to 0.3% this quarter and about the same in the first quarter, he said.
Feisty Italy union chief stands between Monti and reform
ROME - A formidable battle is taking shape over the future of Italy's labour market between Prime Minister Mario Monti, a detached, professorial economist and Susana Camusso, the pugnacious, chain-smoking leader of the country's largest trade union.
China and Japan move to reduce dependence on U.S. dollar
China and Japan signed a deal to allow direct trading of their currencies. The arrangement is part of the nations' move to scale back exposure to the U.S. dollar. China and Japan are the world's second- and third-largest economies, respectively.
India - Economy and Market
Record foodgrains production in 2011 facilitates Food Security Bill
The agriculture sector performed exceedingly well in 2011, with record foodgrains production of over 240 million tonnes.
Nov infrastructure output up 6.8 pct y/y
NEW DELHI - India's infrastructure sector output grew 6.8 percent in November from a year earlier, sharply higher than the annual growth of 3.7 percent in November last year, government data showed on Monday.
Short on revenue, government may go for larger market borrowings
The government is finding it difficult to meet direct tax target due to industrial slowdown and may go in for larger market borrowings.
Import of sensitive items up 40 per cent in April-September
Led by edible oils, import of sensitive items shot up 39.9 per cent to Rs 48,274 crore in the April-September period of this fiscal.
Pulses imports result in Rs 1,201 crore loss to state firms: CAG
State-owned agencies - MMTC, STC, NAFED and PEC has suffered losses of Rs 1,201 crore on import and sale of pulses between 2006 and 2011.
European financial woes likely to cut apparel exports by 15%
Orders from Italy and Spain have almost become nil and could reduce India's total apparel exports by 15%
National Highways Authority of India set to roll out ETC system from next year
National Highways Authority of India (NHAI) plans to roll out the Electronic Toll Collection (ETC) system pan-India from next year.
NHAI to garner Rs 10,000 crore from market for projects ,NHAI to award Rs 15,000 crore order in FY13
NHAI plans to award construction orders worth up to 15,000 crore in the next fiscal, deviating from its strategy of awarding projects through PPP route.
The National Highways Authority of India will raise Rs 10k cr through public issue of "Tax Free Secured Reedeemable Non-Convertible Bonds"
India's roads sector seems headed for consolidation
India's roads sector seems headed for consolidation, with smaller and more aggressive bidders piling up orders that have run into viability issues.
Technology News –
Tata Communications bets big on cloud technology
Tata Communications is betting big on cloud technology to help clients increase productivity and cut costs on the back of solutions.
BT Group to exit from Tech Mahindra, directors resign
BT Group owns a little over 23% equity in Tech Mahindra and contributes 37% to company's revenue.
IT majors to see lower Q3 revenue growth, says brokerage
Brokerage firm Edelweiss Securities has revised it Q3 revenue growth forecast for the top four IT companies downwards to 2-3% from an expectation of 5% at the beginning of the quarter.
Snapdeal, the e-commerce site has broken growth records in 2011; What next?
There are key issues plaguing e-commerce & Snapdeal is no exception. How will it differentiate services from competitors?
E-governance project helps check grassroot pension fraud in Bangalore
A bank correspondent will now be sent to each pensioner's house with a card-reader where the pensioner would swipe his smart card.
Social media site Facebook tops search charts
Popular social media site Facebook was the most searched for word on the internet during 2011 for the third year running, according to a new research.
Online shopping jumps 16.4 pct on Christmas Day
A growing number of shoppers in the U.S. apparently need only the briefest of breaks before diving back in, especially if they can log in to shop.
Samsung eyes 15 per cent rise in handset sales next year: Report
South Korea's Samsung Electronics aims to raise its global handset sales by 15 percent next year by boosting its smartphone sales.
Samsung Electronics Co. buys out Sony's stake in LCD joint venture
Samsung will pay 1.08 trillion won ($935 million) in cash for Sony's stake in S-LCD Corp., a venture formed in 2004, the Suwon.
Intel prepares to launch smartphones powered by its chips
After decades at the bleeding edge of PC technology, Intel is in race to design the brains of a new crop of tablets and smartphones.
2011 Year of tech, tweets, tablets and telecom
Most of the action happened in telecom, with 3G and other milestones. IT crossed a landmark, too. Here are five top tech trends of 2011.
First-time jobless claims in the U.S. declined last week by 4,000, to 364,000, the Labor Department said. That's the smallest total since April 2008. Improving labor market conditions lifted U.S. consumer confidence to an eight month high in December, but persistently weak house prices remain an obstacle to faster economic growth.
Optimism about U.S. economy keeps oil futures elevated
Oil futures are priced near a two-week high as traders speculate that the U.S. recovery is gaining strength and growth will stimulate demand for energy. In electronic trading on the New York Mercantile Exchange, crude oil for February delivery was worth $99.53 a barrel Tuesday. Futures gained 6.6% last week
Brazil replaces U.K. as world's sixth-largest economy
Brazil's economy is the world's sixth biggest, replacing Britain, the Center for Economics and Business Research reported. The research organization confirmed a forecast by the International Monetary Fund.
Spain will suffer another recession, official says
Spain's economy is contracting this quarter and will shrink further in 2012, sending the nation into recession, Economy Minister Luis de Guindos said. The nation's gross domestic product, fourth largest in the eurozone, will fall 0.2% to 0.3% this quarter and about the same in the first quarter, he said.
Feisty Italy union chief stands between Monti and reform
ROME - A formidable battle is taking shape over the future of Italy's labour market between Prime Minister Mario Monti, a detached, professorial economist and Susana Camusso, the pugnacious, chain-smoking leader of the country's largest trade union.
China and Japan move to reduce dependence on U.S. dollar
China and Japan signed a deal to allow direct trading of their currencies. The arrangement is part of the nations' move to scale back exposure to the U.S. dollar. China and Japan are the world's second- and third-largest economies, respectively.
India - Economy and Market
Record foodgrains production in 2011 facilitates Food Security Bill
The agriculture sector performed exceedingly well in 2011, with record foodgrains production of over 240 million tonnes.
Nov infrastructure output up 6.8 pct y/y
NEW DELHI - India's infrastructure sector output grew 6.8 percent in November from a year earlier, sharply higher than the annual growth of 3.7 percent in November last year, government data showed on Monday.
Short on revenue, government may go for larger market borrowings
The government is finding it difficult to meet direct tax target due to industrial slowdown and may go in for larger market borrowings.
Import of sensitive items up 40 per cent in April-September
Led by edible oils, import of sensitive items shot up 39.9 per cent to Rs 48,274 crore in the April-September period of this fiscal.
Pulses imports result in Rs 1,201 crore loss to state firms: CAG
State-owned agencies - MMTC, STC, NAFED and PEC has suffered losses of Rs 1,201 crore on import and sale of pulses between 2006 and 2011.
European financial woes likely to cut apparel exports by 15%
Orders from Italy and Spain have almost become nil and could reduce India's total apparel exports by 15%
National Highways Authority of India set to roll out ETC system from next year
National Highways Authority of India (NHAI) plans to roll out the Electronic Toll Collection (ETC) system pan-India from next year.
NHAI to garner Rs 10,000 crore from market for projects ,NHAI to award Rs 15,000 crore order in FY13
NHAI plans to award construction orders worth up to 15,000 crore in the next fiscal, deviating from its strategy of awarding projects through PPP route.
The National Highways Authority of India will raise Rs 10k cr through public issue of "Tax Free Secured Reedeemable Non-Convertible Bonds"
India's roads sector seems headed for consolidation
India's roads sector seems headed for consolidation, with smaller and more aggressive bidders piling up orders that have run into viability issues.
Technology News –
Tata Communications bets big on cloud technology
Tata Communications is betting big on cloud technology to help clients increase productivity and cut costs on the back of solutions.
BT Group to exit from Tech Mahindra, directors resign
BT Group owns a little over 23% equity in Tech Mahindra and contributes 37% to company's revenue.
IT majors to see lower Q3 revenue growth, says brokerage
Brokerage firm Edelweiss Securities has revised it Q3 revenue growth forecast for the top four IT companies downwards to 2-3% from an expectation of 5% at the beginning of the quarter.
Snapdeal, the e-commerce site has broken growth records in 2011; What next?
There are key issues plaguing e-commerce & Snapdeal is no exception. How will it differentiate services from competitors?
E-governance project helps check grassroot pension fraud in Bangalore
A bank correspondent will now be sent to each pensioner's house with a card-reader where the pensioner would swipe his smart card.
Social media site Facebook tops search charts
Popular social media site Facebook was the most searched for word on the internet during 2011 for the third year running, according to a new research.
Online shopping jumps 16.4 pct on Christmas Day
A growing number of shoppers in the U.S. apparently need only the briefest of breaks before diving back in, especially if they can log in to shop.
Samsung eyes 15 per cent rise in handset sales next year: Report
South Korea's Samsung Electronics aims to raise its global handset sales by 15 percent next year by boosting its smartphone sales.
Samsung Electronics Co. buys out Sony's stake in LCD joint venture
Samsung will pay 1.08 trillion won ($935 million) in cash for Sony's stake in S-LCD Corp., a venture formed in 2004, the Suwon.
Intel prepares to launch smartphones powered by its chips
After decades at the bleeding edge of PC technology, Intel is in race to design the brains of a new crop of tablets and smartphones.
2011 Year of tech, tweets, tablets and telecom
Most of the action happened in telecom, with 3G and other milestones. IT crossed a landmark, too. Here are five top tech trends of 2011.
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