Volume 2 - Issue 4
8-Aug-2014
India's tough stand on WTO gets support from UN body
IIFT Kolkata
Inside this issue:
Asian Markets Skid
2
IT Markets Fell
2
Cricket in Canada
4
Sensex this month
3
Inside Story
3
Inside Story
5
Inside Story
6
Supporting India's tough stand at WTO on the food security issue, UN body for development of agriculture IFAD today said ensuring food for its people is more important than creating jobs in certain other nations. "Creating jobs for some other country, while people are still hungry, doesn't make sense... If I was in the position of feeding my own family or creating jobs for someone else, what would I do? What would you do?," International Fund for Agriculture Development President Kanayo Nwanze told PTI."The bottom line is that every government has the
responsibility to ensure that it can feed its own people," he said while replying to a question whether he supports India's tough stand in the World Trade Organization. Echoing similar sentiments, IFAD's Country Director for India Nigel Brett said India has a big task to feed its people. "You have a population of 1.2 billion people. You have a mammoth task in your hand of feeding people...in this case government has to do everything what it can do to feed its population in the interest..." India decided last week not to ratify WTO's Trade Facili-
WTO’s credibility yet again
tation Agreement (TFA), which is dear to the developed world, without any concrete movement in finding a permanent solution to its public food stock-holding issue for food security purposes. It has asked WTO to amend the norms for calculating agri subsidies in order to procure food grains from farmers at minimum support
HOT News D-St warms up to ecommerce cos after Flipkart's valuation soared DS Kulkarni Developers to raise Rs 200 crore via NCDs Investors with over 10% stake may get to take the OFS route
Modi government has done more work in 60 days than UPA in 6 Years : Nirmala Sitharaman There is a deliberate attempt to create a perception that the Modi government has not met expectations, says Nirmala Sitharaman, minister of state (independent charge) for commerce and industry, finance and corporate af-
fairs. In an interview to Infineeti, Sitharaman said the government has done more work in 60 days than previous government did in six Parliament sessions. Anand Sharma came back
and told Parliament then that he has got the deal, a peace clause. The fact is that you didn't get a peace clause for . perpetuity, but only till 2017, after which you will be taken to arbitration every time .Read More
Page 2
Monthly News Letter
Asian markets skid as geopolitical tensions stroke growth worries Asian shares were pressured on Friday as investors sought out safe-haven assets on growing fears that geopolitical tensions in Ukraine and the Middle East would sap global growth. U.N. Secretary-General Ban Kimoon and the United Nations Security Council on Thursday called for the international community to help Iraq's government and people as the country struggles against a sweeping advance
age was down 1.2 per cent.
by Islamist militants. MSCI's broadest index of Asia-Pacific shares outside Japan dropped about 0.2, while Japan's Nikkei stock aver-
Cautious investors awaited trade figures from China, expected at 0200 GMT. "If export growth weakened last month, it would deal a strong blow to the Australian dollar and could drive the currency pair towards 92 cents," Kathy Lien, managing director of FX strategy for BK Asset Management, wrote in a note to clients.
IT stocks fall as Cognizant cuts revenue guidance; Infosys, TCS, Wipro down over 1% Technology stocks declined on Thursday after Cognizant Technology on Wednesday forecast its slowest-ever sales growth in 2014. But losses were limited as investors remain bullish on these stocks on hopes they would be outperformers over the next six months. InfosysBSE -1.68 % fell 2.1 per cent, HCL Tech declined 1.8 per cent and
TCSBSE -1.56 % dropped 1.5 per cent. NSE's CNX IT Index fell 1.4 per cent — the worst sector performer on Thurs"Investors are not worried about the Cognizant guidance because the perception is that leading technology stocks (like TCS, HCL Tech and Infosys) will give steady returns over the next couple of years," said Pankaj
day. The Nifty was down 0.3 per cent. Technology stocks have been underperformers in the broadbased market rally so far in 2014 as investors shifted money to shares of infrastructure, power and capital goods companies amid the election euphoria.
Pandey, head of research, ICICI Securities.
Russia bans food imports from West Russia has banned most food imports from the United States and the European Union in obvious retaliation to tough Western sanctions against it over its role in neighboring Ukraine.
fish, cheese, milk and dairy products from the European Union, the United States, Australia, Canada and Norway". No West Looking Anymore
Russian Prime Minister Dmitry
bargo will affect "imports of beef, pork,
Medvedev on Thursday said the em-
fruit and vegetable produce, poultry,
The ban exempts only baby food and will last one year unless "our partners demonstrate a constructive approach" with regards to sanction-
Volume 2 - Issue 4
Page 3
Sensex Last Week
S&P Heatmap
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Growing in New Markets- Cricket is the fastest growing sport in Canada: Mukesh Narula Life has changed for the better for Mukesh Narula. An allrounder who scored 2373 runs and took 104 wickets in 57 first class matches for Baroda and West Zone, Narula became a coach and guided Baroda to the Ranji Trophy final in 2011. Three-and-ahalf years later the 51-year-old was named head coach of the national team by Cricket Canada. Perhaps unhappy with the happenings in Baroda, Narula migrated to Canada soon after the Ranji final in 2011 in order to pursue his coaching career. Talking to The Hindu from Toronto on Wednesday he said: “Cricket is the fastest growing sport in Canada.
Baseball diamonds have been converted to practice nets with batting cages. I coached one at Etobicoke in the Greater Toronto Area (GTA).’’ Narula has been made the head coach with the purpose of turning the fortunes of the team. Canada lost to Scotland in the ICC qualifier in New Zealand last January and failed to make the 2015 ICC World Cup. Canada has played in the 1979 World Cup and for three successive competitions from 2003 to 2011. The qualifying tournament for the 2016 ICC World Cup Twenty20 will be played in Scotland and Ireland in July–August 2015.