BUSINESS NEWS 19-08-07

• Finally for week ending 4th August, Inflation ended at at 4.05% Vs 4.45%.

• The US markets ended this Friday in Green - a hefty 233 points DJIA & 54 points Nasdaq + US Fed reduced their discount rate which is similar to our Bank Rate by 0.5% to 5.75%. So are we going to see a rise in Indian Markets this Monday ?

• After going through a lot of turmoil on increasing fertilizer subsidies & the increasing shortage of fertilizers felt in our country, GOI off late, now is mulling coming out with a policy for fertilizer sector investments. This sector will give huge potential profitability to the early movers! Entrepreneurs where r you ?

• A report on Steel Industry says that they are going to add 70 million tonnes of capacity in 5 years through an investment of Rs. 2,80,000 crores in India. Are we seeing bullishness in Indian Steel Markets or they are just betting on oversees shortages in capacity & cost constraints or they have to potential to increase per capita indian consumption of steel from approx. 35kgs. per annum now - in future ?

• June infrastructure output up 5.3% Vs 7.7% (YoY): NW18 - though u might have heard about the industrial output reduce this month year on year, a few days back.

• Pharma companies facing a herculian task of revival. They are going through increased new compound research costs & lack of drugs in their product pipeline! Sanofi Aventis SA, GlaxoSmithkline Plc & Wyeth for instance are facing FDA DRUG Rejections - over Side-Effect Concerns in World's Biggest Pharmaceutical Market - The United States! The FDA new Drug Application Rejection has increased after the famous or infamous Viox fiasco & congressional interventions thereafter.

• An Indian company - Taurian Resources Private Limited, a Rs 300 crore company, has won a contract that gives it Exclusive Uranium Exploration & mining rights over 3,000 sq km of the Sahara Desert - in Niger, Africa. This is the first ever such achievement by any indian company abroad and it has happened at a time when India is just about to clinch a deal for Uranium Supplies with Australia!

• RADG - Reliance Anil Dhirubhai Ambani Group - has lost its application for an SEZ in NOIDA, Uttar Pradesh on the grounds of non compliance with central government directives. Now we all must know that UP government is under Ms. Mayavati. Let RADG get some power to tackle such hostility & may they build a repo with this government too.

• Today the EGOM is going to meet on gas pricing - this is happening in the back drop of Left & Right leaders pitching in to the debate of gas pricing formula!

• India Post to trade in forex soon + they are also goinng through a makeover ! Who knows when all these things along with a Banking entity status for India Post become a Reality ?

• In a Forbes survey Tuck School of Business Dartmouth tops as the top B School in US, 2nd comes Stanford & then came Harward !!!

• ICICI gets permission to sell stake in Financial Services unit from Foreign Investment Promotion Board - FIPB finally.

• According To RBI REport - GUJARAT has outpaced other States in Industrialization coming 1st in this years investment committments from corporates. Andhra Pradesh came 2nd in this list. While MAHARASHTRA primarily due to MUMBAI came 3rd which had to share its place with TAMIL NADU.

• Reliance Money is in its expansion drive and eying now 10000 outlets in 5000 talukas. The company is promoted by Reliance Capital owned by Reliance Anil Ambani Group.

• Maruti Offers Rs 7000 to 30000 discount on select models Till August 31 for boosting sales

• Talk of Market Segmentation for creating or carving a niche for itself --> Well ZEE DTH service Dish TV - owned by Mr. Subhash Chandra is going to launch its DTH services available in SUV's - yes high end Sports Utility Vehicles! All of Kingfisher Airlines fleet will have Dish TV DTH service installed in them by next year !!!!

• Is it good News for Ranbaxy or it is wait & watch for now striking a first blow ? - Pfizer, yes drug major Pfizer has lost initial bid to reissue patent 2011 for LIPITOR, WORLD'S Blockbuster anti cholesterol Drug. The patent office of US has given a "non final" rejection to Pfizer's application as per the patent office website. Though this is not a final verdict and still a lot will happen!

• TRAI sees cooperation in price among GSM players seeing their raise in prices, although they said that they dont see the possibility of cartelisation out here.

• Dabhol power station owned by Ratnagiri gas company was shut down after Petronet LNG Ltd. the countries supplier of 25% of gas demand stopped supply pending a court order.

• More than Rs. 1,00,000 crores worth of Shares are locked in to DEMAT accounts which are FROZEN because of them not supplying the Mandatory PAN - permanent account number! A union government minister said this.

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