Purnartha - 07-Mar-2014 - Important news (India & Global) (To receive these updates in your mailbox every morning - just call our toll free number: 1800 - 266 - 0161 or send an e-mail to support@purnartha with your name and phone number) INDIA 1) FIIs have again turned bullish on India. After selling stocks through January and at the start of February, since February 12, they have invested nearly Rs 7,000 crore ($1.1 billion) into Indian stocks, helping benchmark Indian equities scale new peaks. 2) The gross non-performing assets (NPAs), or doubtful loans, of public sector banks (PSBs) rose to 5.17 per cent of their advances by end-December 2013, against 4.18 per cent a year before due to the economic slowdown. GLOBAL 1) The Ukraine crisis saw a dramatic escalation when Crimeas parliament voted to join Russia and its Moscow-backed government set a referendum in 10 days on the decision even as U.S. President Barack Obama took steps to punish those involved in threatening Ukraine while European Union leaders agreed to suspend visa and investment talks with Russia suggesting that the dispute is far from being resolved. However, the risk of war has faded. 2) European central bank left interest rates unchanged but offered no signal the ECB will implement unconventional measures such as bond purchases to avert the threat of excessively low inflation and underpin a fragile recovery.The Bank of England also kept interest rates unchanged, seeking to give the economy more time to build momentum before removing stimulus. 3) Fewer Americans than projected filed applications for unemployment benefits last week, an indication companies are holding on to staff even as cold weather threatens to slow the world’s largest economy. Factory goods orders in January fell 0.7 % compared with a forecast for a decline of 0.5%
Posted on: Fri, 07 Mar 2014 09:25:52 +0000
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