VIVA “The Pinnacle” Economy US president announces $4 billion of new initiatives, trade missions to help boost infrastructure •US President Barack Obama on Monday announced $4 billion of new initiatives aimed at boosting trade and investment ties as well as jobs in India, and opened up a whole new source of financing for social development ventures in the country through a new Indian Diaspora Investment Initiative. Agriculture GDP growth has accelerated to 3.3% in 11th plan • Agriculture GDP growth has accelerated in the 11th plan, to an average rate of 3.3 per cent, compared to 2.4 per cent in the 10th and 2.5 per cent in the 9th plan. The percentage of the population below the poverty line declined at the rate of 1.5 percentage points per year during 2004-05 to 2009-10 India will soon see surge in FDI inflows: Jayant Sinha •India will soon see a surge in foreign direct investment, including from the US, as the country strengthens manufacturing sector under the Make in India programme, Minister of State for Finance Jayant Sinha said today. Capital Market Bharat Electronics rallies 11%, hits 52-week high as Q3 net soars to Rs 272 crore • Bharat Electronics Ltd surged as much as 10.9 per cent in trade on Tuesday to hit its fresh 52-week high of Rs 3,570, after the Bengaluru-based public sector defence undertaking announced 41.6 per cent rise in standalone net profit at Rs 272 crore for the third quarter-ended December 2014. Yes Bank hits record high; JPMorgan upgrades stock to overweight •Private lender Yes BankBSE -0.51 % shares touch all-time high of Rs 882 in the intra-day trade of Monday. This was the highest level the stock touched since it debut in 2005. JPMorgan said that it has upgraded the private lender to overweight from underweight International Asia Stocks Rise as Gold Drops on Bets Greece Keeps Euro • Asian stocks rose, with the regional index headed for a two-month high, while gold fell for a third day amid speculation Greece will stay in the euro region. Chinese shares retreated after industrial profit dropped. Japan Stocks Advance After Yen Weakens Amid Optimism on Greece • Japanese stocks rose, following equity markets in the U.S. and Europe higher, after the yen weakened amid optimism Syriza’s victory in elections won’t lead to a Greek exit from the euro area. Toyota Motor Corp., which gets about three-quarters of its sales outside Japan, was the biggest support to the Topix index, climbing 0.9 percent. JFE Holdings Inc., the nation’s second-largest steelmaker, jumped 4.7 percent after its equity rating was raised at Morgan Stanley MUFG Securities Co. Currency Euro ticks up after Greek poll plunge, rouble tumbles •The euro inched higher on Tuesday after plunging in the wake of the leftist Syriza partys victory in Greek elections, while the ruble dropped after Standard & Poors cut Russias debt rating to junk. In Tokyo, the common currency bought $1.1251 and 133.31 yen, up from $1.1234 and 133.12 yen in New York. Commodity Gold price dips as equities recover following Greek vote •Gold fell more than 1 per cent on Monday as traders cashed in gains that took the metal to five-month highs last week, with the wider markets shrugging off news that an anti-austerity party had won elections in Greece.
Posted on: Tue, 27 Jan 2015 06:10:02 +0000
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