ISSUE - 123
25th AUGUST [THURSDAY]
EDITOR’S DESK
- TANIYA BANERJEE
Its that time of the week again when we come back with a fresh dossier of news for all our avid followers. This week we bring to you the following news in your favourite sections! Corruption has become a daily part and parcel of an Indian‟s life. Such is the pervasiveness of this term that it has finally made Indians realize that its high time that they did something about it. The Jan LokPal bill has come as a ray of hope along with Anna Hazare, the man whose relentless pursuit towards making it stronger has become the talk of the town today. Witness more updates on this in our Cover Story. Muammar Gaddafi‟s regime of almost 42 years came to an end finally with the civil war ending in Libya. Many rejoice the fact that the country is finally freed from the shackles of dictatorship but, was life under this dictator really so bad? Will better conditions prevail in the country post Gaddafi‟s regime or was it better before? Get our writer‟s opinion on the above questions and more in our Opinion Section. The recent acquisition of Motorola Mobility by Google has spurred us on to track Motorola in our Brand Track Section this week. Witness the tale behind the growth, the slump and again the revival of this giant in this section this week. John Chambers, the CEO as well as the Chairman of the board at Cisco is our Focus of the Week this week. Being dyslexic, life was not easy for John. But in spite of the shortcomings, today he stands as one of the most successful and revered CEOs in the world. Witness the story of a true survivor and an inspiration to one and all here this week. Moreover we have our regular sections of Fast Track, News @IBS, Quick Bites and Market Watch to enrich your knowledge further.
Cheers, Taniya Banerjee
EDITOR COVER
1 OPINION 2 BRAND
5 FOCUS 6 NEWS @ IBS
8 9
FAST-TRACK
3 QUICK BITES
7 MARKET
10
THE IBS TIMES
COVER STORY– ANNA HAZARE’ REMAINS FIRM AGAINST ODDS
- AVLEEN KAUR SARNA Mahatma Gandhi said the seven sins are “politics without principles, wealth without work, pleasure without conscience, knowledge without character, commerce without morality, science without humanity and worship without renunciation of ego.” Following his teachings, Anna Hazare an Indian social activist is recognized for his participation in 2011 Indian anti-corruption movement using non-violent methods. Initially, Anna Hazare started with a hunger strike on 5 April 2011 to exert pressure on the Indian government to enact a strict anti-corruption law as envisaged in the Jan Lokpal Bill for the institution of an ombudsman with the power to deal with corruption in public offices. He called his movement as “second struggle for independence” and was determined that he would continue to fight no matter how many obstacles come his way.
Following his teachings, Anna Hazare an Indian social activist is recognized for his participation in 2011 Indi a n anti corruption movement using non-violent methods.
Worsening the situation further later on 28 July 2011 the union cabinet approved a draft of the Lokpal bill which keeps the Prime Minister, judiciary and lower bureaucracy out of the ambit of proposed corruption ombudsman Lokpal. Hazare rejected the government version by describing it as “cruel joke” and decided to go on an indefinite fast from 16 August 2011 at Jantar Mantar if the government introduced its own version of the bill in Parliament without taking suggestions from civil society members. Finally on 16 August 2011, Hazare was arrested four hours before the planned indefinite hunger strike under a legal provision that bans public gatherings and protests at a park in Delhi where he was planning to begin his strike. Following which the swelling protests forced government to release Hazare from prison barely 11 hours into a seven-day jail sentence thereby surrendering meekly the “one step forward , two step backward decision” and on 20 August 2011 Hazare ultimately “left the Tihar jail for the Ramlila grounds” after government rolled back the conditions imposed on the hunger strike; promising to fight to the „last breath’ until the government gets his team‟s Jan Lokpal Bill passed in this session of Parliament, which ends on 8 September 2011. Further, stepping out to fight the media hullabaloo surrounding team Anna‟s campaign against corruption , the government unleashed a counter-blitzkrieg to insist that one man alone could not hold Parliament to ransom on the Lokpal Bill.
Recently, Anna also warned the government that he won’t budge till Jan Lokpal Bill is passed.
“Democracy means no voice, however small, must go unheard. The anti-corruption sentiment is not a whisper –it’s a scream .Grave error to ignore it.” As the government groped in the dark for a strategy to deal with Anna Hazare‟s public fast and to contain the massive outpouring of anger against it, the Congress has been producing a cacophony of voices. While a section of the congress publicly and privately claimed that RSS was behind Anna‟s mobilization, others described him variously as a Gandhian and a hero of agitated masses. These differences in opinion further aggravated the situation. Recently, Anna also warned the government that he won‟t budge till Jan Lokpal Bill is passed. “You should not allow this torch of struggle to be put out whether Anna is alive or not” he addressed the crowd while stepping out of the Tihar jail and hence the agitation goes on. The tragedy of India is not what it is but what it could have been.
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FAST-TRACK NEWS
THE IBS TIMES -KRITIKA SETHI & LISA.T.SAMUEL
9% growth rate- tough decision
Amid global economic uncertainty, Prime Minister Manmohan Singh said the government will have to take „difficult decisions‟ to achieve 9 per cent growth rate in the 12th Five-Year Plan (2012-17), up from 8.2 per cent estimated for the current Plan. Singh said in his opening remarks at the meeting of the full Planning Commission, “9 per cent target in 12th Plan is feasible only if we can take some difficult decisions.”
Anna Hazare’s prowess unmatchable
The government‟s willingness to accommodate team Anna‟s concern, PM-Manmohan Singh said that he is open to discussions. Hazare, who has lost weight since he began the fast for an omnibus anti-graft bill, said he would continue protesting till the Jan Lokpal bill, drafted by his group, is passed by parliament. Sitting at an elevated platform at the ground where he and his team began have been given permission by Delhi Police to continue their protest from Friday until Sep 2, Hazare has been drawing massive crowds from across the country.
Even Finance Minister fears volatile stock market Pranab Mukherjee indicated that government would not disinvest its shares in any public sector company under the current volatile stock market conditions. Though he has approved disinvestment of 5% paid up capital of ONGC and SAIL, the finance ministry reviews the global implications. Europe's debt problem and worries about the world economy had resulted in a sharp fall in the US and European markets, according to the finance ministry. Stocks that were particularly affected in the US were those of companies that have global presence.
Murthy marks last day as Infosys Chief Chairman of Infosys-‟Narayan Murthy‟ brought the curtains down by ending his 30 years innings on Friday. He inspires youth to take INFY to great heights. “Infosys should now aspire to become a $60 billion firm and who knows, hopefully, $600 billion Company", the iconic business leader said. He said the company has grown pretty well in the last 30 years in terms of revenues, profits, employee strength, number of investors and market capitalization, among others.
All that glitters is not gold Gold climbed to an all-time high of Rs 28,150 per 10 grams in the national capital on Friday, posting its biggest -ever single day gain of Rs 1,310, amid frantic buying triggered by robust demand in global markets. The trading sentiment at home was bolstered by gold's ascent to a record level in overseas markets as mounting concerns over sovereign debt and slower growth spurred investors to seek the perceived safety of bullion as an investment haven
Sigh of relief: government puts an end to unsolicited telemarketing SMS Mobile phone users pestered by unsolicited text messages can breathe easy. The government is all set to put an end to the nuisance of unsolicited SMSes. Telecom Minister Kapil Sibal informed Rajya Sabha that the mechanism to end the misery of mobile users will take another six weeks to be put in place. The measure would follow the government's earlier failed attempt to stop pesky callers from harassing mobile phone users with voice SMSes. The mobile users also have the option of selectively receiving messages from specific categories.
West Bengal will now become ‘Paschimbanga’ A consensus to rename West Bengal as “Paschimbanga” was on Friday reached at an all-party meeting to change the nomenclature of the state. Chief Minister Mamata Banerjee suggested the new name and unanimity was reached on it. It has been unanimously decided that state's new name will be Paschimbanga from now in all languages. They wanted a change in the name of the state to get the administrative advantage.
Rust Belt–A slang term for a geographic region in the United States stretching from New York through the Midwest that was once in-
volved in steel production and manufacturing. The Rust Belt became an industrial hub due to its proximity to the Great Lakes, canals and rivers, which allowed companies to gain access to raw materials and ship out finished products.
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THE IBS TIMES Freedom of speech-‘Amitabh Bachchan’ While most Bollywood stars have gone vocal about their support for Anna Hazare's fight against corruption, mega star Amitabh Bachchan has taken a subtle approach. The 68-year-old actor says the movement comes within the Constitutional boundaries and every citizen has a right to voice their opinion. In a democracy like ours, everyone has the right and freedom to voice their opinion about any issue. We understand the system and if one follows it, then there is no problem.
Tata Motors, Ashok Leyland to launch liquid gas fuel Tata Motors and Ashok Leyland will soon collaborate with Petronet LNG Ltd (PLL) to introduce the usage of liquefied natural gas (LNG) for vehicles. PLL plans to introduce the retailing of LNG, as it is a cheaper and safer alternative to the cheapest existing fuel in the country: compressed natural gas (CNG).
Google takes over Motorola Google and Motorola Mobility Holdings have today announced a definitive agreement under which Google will acquire Motorola Mobility for total of about $12.5 billion. The acquisition of Motorola Mobility, a dedicated Android partner, will enable Google to supercharge the Android ecosystem and will enhance competition in mobile computing.
Virgin Australia ties up with SIA to touch down in India VIRGIN Australia, a long haul international airline, plans to start its operation in India by early next year through an arrangement with Singapore Airlines (SIA). The Australian airline has sought approval from the International Air Services Commission for a code share agreement with SIA that operates in various Indian cities.
Sensex rebounds on strong global cues After shedding about 1450 points, or 8% in six consecutive sessions, the sensex reversed its loosing trend with a 273 point rally to end at 17131.The week‟s gains came on the back of global cues, mainly after most markets picked up gains after days of sell-offs, and also because of foreign fund buying.
Deadly blasts rock Afghan capital At least nine people have been killed as a wave of large explosions followed by a stand off rocked a British cultural centre in the Afghan capital Kabul on a public holiday marking the country's independence from Britain.
India v/s England: Bell, Swann pushed India to walls Bell scored a double ton propelling England to an advantageous position against India on a day which saw the whole of the second session being wiped out because of incessant rains during the fourth Test at The Oval on Saturday. At close on Day Three India were 103/5 with Rahul Dravid (57 n.o.) and MS Dhoni (5 n.o.) in the middle in reply to England's first innings total of 591/6 December. After Bell's impressive double, England offie Graeme Swann lapped up three wickets, including that of Sachin Tendulkar, to push India to the wall.
Chappel removed as a selector Former Indian coach Greg Chappell has again run into controversy and this time it's the Australians, who are complaining about his eccentric ways. The former cricketer, who had earned the wrath of Team India, is now being blamed for the recent Ashes debacle with Cricket Australia removing him as a selector.
Kiddie Tax- A special tax law created in 1986 imposed on individuals under 17 years old whose earned income is more than an annually determined threshold. This law is designed to prevent parents from exploiting a tax loophole where their children are given large "gifts" of stock. The child would then realize any gains from the investments and be taxed at a far lower rate compared to if the parents had realized the stock's gains.
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THE IBS TIMES
OPINION FORUM– LIBYA– THE UNTOLD STORY
-ANKIT SHARMA
With the civil war in Libya almost over the regime of colonel Muammar Gaddafi (Gaddafi) has come to an end. The 42 year old dictatorship came to an end on the 21st of August after the combined forces of National Transitional Council (NTC) and NATO took over the city of Tripoli. With some pro Gaddafi soldiers still in the city, the war has not ended completely but it‟s expected to finish soon. The situation began on 15th of February when people, inspired by the Egyptian and Tunisian revolution, were holding a series of peaceful protests against the Gaddafi dictatorship. Angered by such an unprecedented event, Colonel Gaddafi gave orders of free shooting at the crowds and thus began the Libyan revolution of 2011. However, if you critically analyze the living conditions under the Gaddafi regime you will be shocked to see that life under Gaddafi was not so bad.
Moreover if they could install a dummy government in Libya all of its vast oil reserves would be under the control of the west.
However, if you critically analyze the living conditions under the Gaddafi regime you will be shocked to see that life under Gaddafi was not so bad. After coming to power the Revolutionary Command Council (Gaddafi‟s government) directed a major share of government spending to basic facilities like sanitation, food programs, healthcare and education. Public education in the country is free and compulsory for both boys and girls. Public healthcare is also free. Under Gaddafi the per capita income of Libya rose to more than 13000 dollars, the fifth highest in Africa and 63rd in the world So why is it that the whole world wants to remove Gaddafi? The Answer is a simple. It‟s not the whole world that wants to remove Gaddafi, it‟s only the west that cannot bear him, particularly the United States of America. It is a well known fact that Libya was accused of the 1988 bombing of Pan Am flight 103 over Lockerbie, Scotland, leading to various trade embargos and sanctions by both US and the UN. Despite such bans Libya managed to do well economically due to its vast reserves of oil. The west could never digest this fact and thus was always hostile towards Libya. Moreover the west was also never very comfortable with the fact that Libya was trying to procure Nuclear and chemical bombs, they believed that if Libya got hold of nuclear technology its first target would be the west only, Moreover if they could install a dummy government in Libya all of its vast oil reserves would be under the control of the west. Thus, all they wanted was the slightest of provocation so that they could begin their onslaught on Libya and they got that in the form of the Libyan Revolution. The west has never cared about the people of Libya, they cannot be less bothered about the living conditions or human right violations in the country, all the interviews that we hear daily regarding how sensitive the west is towards the Libyan people is nothing more than a grand façade. I am not saying that Gaddafi was some God man who did nothing wrong but he was also not the monster they portray him to be. Of course some of the atrocities that he committed were shameful and he should be punished for that but compare Libya to the rest of Africa and you will see the difference. Considering the bans, the embargoes, the hostilities he had to face, that man did a brilliant job of holding Libya together and it‟s high time we gave him credit for that.
SplashCrash- The idea is that because of the interconnectedness of the financial markets and the use of high-speed trading platforms, a
huge drop in one market could affect other markets. A splash crash could freeze exchanges, cause market liquidity to spontaneously evaporate and have a long-term detrimental effect on investor confidence. Market surveillance and intelligent algorithms that detect and respond quickly to market irregularities attempt to ward off such events and minimize the damage, if they do occur.
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THE IBS TIMES
BRAND TRACK—MOTOROLA: NEW DAYS AHEAD
This year’s excitement continued for Motorola when on 15th Aug Google announced that it would acquire Motorola Mobility for $12.5 billion.
Will the whole company be merged into Google is the question which everyone is curious to know about.
-AVINASH ROY
The very first thing that comes to our mind by the name Motorola is the first cellular handset, yet very few of us are aware of the fact that Motorola‟s significance in communication sector has been much more than what we know about it. Its journey from being the major player in cellular handset market to be a normal market share holder is what we will discuss in this week‟s brand track. What a year this has been for Motorola, it was only in January 2011 when the almost 83 year old company split into two companies: Motorola Solutions, the direct successor to the original telecommunication company and Motorola Mobility, the mobile device maker responsible for the brand‟s modern household reputation. This year‟s excitement continued for Motorola when on 15th Aug Google announced that it would acquire Motorola Mobility for $12.5 billion. Since the company was founded in 1928 in Chicago, it has always tried to prove itself in terms of innovations and creativity with sincere and effective inventions in the field of communication. It literally became famous owing to its walkie-talkie system used in World War II. By the end of World War II, Motorola was a public company focused on selling radios and televisions which had been gaining popularity since their commercial debut at the 1923 New York World‟s Fair. It preserved the radio business till 1960 aiding NASA in Radio Equipment for space flights. Neil Armstrong‟s “One small step for man, one giant leap for mankind” moment was over a Motorola radio. However the company‟s love affair with portable telephone was longer lasting. It revealed first public telephone in 1973, but it wouldn‟t be another decade September of 1983- that it would receive FCC approval for the DYNATAC 8000X telephone, the world‟s first commercial cellular device. The rest is history, as the mobile phone grew into a mature consumer device in the 1990s, Motorola reaped huge awards; by 1998 two third of the company‟s gross revenues came from cell phones. But since 1998, Motorola started losing ground in the cellular handset market and Nokia surpassed it. Lack of design and a friendly user interface left a gaping hole in Motorola‟s product offerings. Nokia saw this and introduced stylish cell phones with a friendly human interface with features like big screen and easy to navigate menu. This was rightfully marketed as „Human Technology‟. The company‟s mobile Device Department reinvented itself in 2002-03 and came up with new attractive handsets like RAZR V3 and later shifted its operating system from their proprietary software to Google‟s Android operating system. Handsets like „DROID‟ became quite successful as it also received the prestigious “TIME gadget of the year” in 2009. Later launch of „DROID X‟ and „DROID 2‟ helped regain much of its market share in the U.S. However the Tech world was rocked when Google announced about its intention to acquire Motorola Mobility. As a result, we were seeing a lot of speculation about what will now happen to Motorola and how the company fits into Google‟s mobile strategy. Will the whole company be merged into Google is the question which everyone is curious to know about. Once the acquisition gets approved later this year, the company will continue to function just as it is now as is clear from the statement, “We will run Motorola as a separate business,” by Larry Page. Both companies will have separate financial reports. Next question which comes to everyone‟s mind is why Google would spend $12.5 billion to keep Motorola as a separate company? Motorola currently own 17,000 patents and has 7,000 more pending. That‟s a lot as compared to the 6,000 patents Google was fighting to get from Nortel, which ended up being sold for $4.5 billion. For just $8 billion more, Google managed to get 4 times as many patents and a huge company to go with it. So what does that mean for Motorola? It will now become the sword and shield of the Android ecosystem used by Google to fend off any troll that wants to hurt Android. This merger opens the gate for Motorola which could build a variety of new designs under Google‟s management including phones and tablets. Now that with Google, who is the owner of Motorola, it‟s just a matter of time before we see the first Motorola branded Google TV and chrome books. With Motorola now under Google‟s wing, the sky is the limit for the „Search Company‟ with immense opportunities for Motorola also to make a significant dominance once again in the telecommunication market.
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THE IBS TIMES
QUICK BITES- NEWS THAT CAN’T BE MISSED !
- GAURAV MALLIK
Big Shots… Rohit Nandan replaces Arvind Jadhav as the new Chairman and Managing Director of Air India. K V Kamath replaces Narayana Murthy as the new chairman of Infosys Limited. S D Shibulal, COO of Infosys has now been promoted to the position of CEO and Managing Director of the company with him and S Gopalakrishnan being the only Board of Directors to be retained.
Company Talks… Google goes mobile, acquires Motorola at $12.5% billion. Honda may opt for CD platform for Solo Motorcycle Ride. Lanco Net down by 9% to 235 crore. Wal-Mart‟s Q2 profit rises to 5.7%. Infosys changes its name from Infosys Technologies Limited to Infosys Limited. Coal India surges past RIL to be the biggest company by market capitalization. Mahindra & Mahindra registers profit of Rs. 662 crore in Q1. Beetle launches Android Tablet for Rs. 9999/-. Axiata looking for raise in stake in Idea to near 25% Acer goes past HP to become the largest seller of personal computers. Just Dial to plan an IPO of 360 crore. ICICI Bank to try grabbing market share with fixed rate loans. Ranbaxy may sell Lipitor copy rights. Airtel to be the title sponsor for Indian F1. Spice Jet dips by 8.4% on fund selling. Educomp swamped by IT raids furor. Unilever bets on75% growth of turnover from growing markets by 2020. Gamers the cause of rift between Sony and Microsoft. Apple may invest $1bn in sharp LDD Plant.
Economy Speaks…
.
Average GDP growth calculated at 6.6% from 1990-2010. Sensex scales down by 371 points to 16349 as in the closed prices due to Anna‟s fast effect. Monsoon dry fall leads to forced demand for NREGA. Europe heading for a new economic downturn with growth falling from 6.3% to 0.8% in the first three months of the year. Inflation rates dips to 9.03% but still hikes in the rate looms large. European GDP raised by 0.2% since emerging from recession in 2009 showing signs of economic downturn. Banks yield arbitrage gains to over 8% mark in one month‟s Certificates of Deposits in secondary markets. Nifty runs into resistance between 5200 and 5350 points. Rubber prices drops to 200 per kg due to the reason of imports increasing up to 5.8% to 238400 tonnes.. Imports goes up by 10% to 62,056. 4% proposed target growth for Farm Sector in the 12th Plan. Center For Monitoring Indian Economy scales down GDP growth target to 8-9%. Foreign Investment Promotion Board or the Government clears 18 FDI proposals worth 123 crores. Bank of England eyes stimulus. Local Factors scale European markets down.
The Captains of the Ships.. YSR Congress President- Jaganmohan Reddy. Kolkata Court Justice- Soumitra Sen.
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THE IBS TIMES
FOCUS OF THE WEEK– THE EVER OPTIMISTIC: JOHN CHAMBERS
- POOJA DALAL
A torch bearer in the Silicon Valley, an optimist at heart, one of the „gentle‟ CEOs‟ of America, John T Chambers holds the position of CEO as well as Chairman of the Board at Cisco Systems, Inc. As a child, John was diagnosed with dyslexia. But being (fortunately) born to parents who were doctors by profession, his problem was not ignored but rather solved in a very sophisticated manner. His parents hired a professional help and thus with the help of a therapist, and his willingness to improve, he was able to overcome his disability. His reading specialist comments, "He had this very optimistic attitude about everything. He was just not going to fail. One thing I notice as I hear him now on TV is that he still has that attitude"
He studied hard (putting 200% effort due to his dyslexia) and got a law degree, but soon lost interest in it and joined management studies intuitively as he knew he was going to get into business.
Of his many achievements at Cisco, some stand out and make Chambers a rare leader.
He studied hard (putting 200% effort due to his dyslexia) and got a law degree, but soon lost interest in it and joined management studies intuitively as he knew he was going to get into business. His first job was at IBM, a giant of IT company then, but very inflexible. Being of a very aggressive temperament, John could not put up with it, and hence left for Wang Laboratories and then finally for Cisco in 1991. Of his many achievements at Cisco, some stand out and make Chambers a rare leader. One of them is foresight. In one of the most troubled times at the valley, when the dotcom bubble burst, and there was a cash crunch not only in the company but in the industry as a whole, chambers trusted his policy of acquisitions, and that (to the astonishment of many industry experts) made Cisco emerge stronger than ever. Another hard time was in 2000, when all IT stocks plummeted and chaos reigned, Chambers took a bold move and fired 15% of its workforce but an ethical man that he was, he cut down his own salary too, to $1 per year! With John Chambers at the helm of affairs, many things became possible which would not have otherwise been. The company‟s sales department actually started listening to the consumers and diversified their portfolio of products to include new customer products, that was significantly different from the professional network infrastructure that they previously manufacture. Such innovation and diversification helped the company survive the storms and grow consistently. However, not everyone agrees completely on his being the „Best CEO‟. Some are of the view that a CEO has a major function of increasing shareholder‟s value. This consists of two functions, i.e. increasing the Earning per share of the company, and convincing shareholders of the future capacity of the company to earn. Chamber‟s satisfies the first criterion (Cisco prices grew from .36 to 1.36 in the past decade). But he is not able to convince shareholders as to its future prospects. Thus Cisco‟ shares lay flat, even while NASDAQ soars. Despite all the criticism, the fact remains intact- that Cisco is one of the most creative organisations in its offerings and state of the art technologies like Telepresence, Cisco Wireless IP Phone 7920, and many other security agent/ manager applications. And all this would have never happened to Cisco if it was not for Chambers.
As Martin Luther King, Jr. says, “The ultimate measure of a man is not where he stands in moments of comfort, but where he stands at times of challenge and controversy”, and Chambers braved the uncertain tornadoes efficiently at the most crucial of hours‟.
Saw Buck- A slang term for a U.S. $10 bill. Sawbuck refers to a rack used for holding wood for sawing that has a shape similar to the letter X. The U.S. Treasury initially used Roman numerals on its banknotes, and ten is represented by X in Latin. This term became popular in the 19th century.
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THE IBS TIMES
NEWS @ IBS– ALL HAPPENINGS IN IBS HYDERABAD!
- KISLAY KUMAR
To end a humdrum and quotidian week the list of spunky events were lined up. We observed a cocktail of events which included brain storming, stress busters and fun filled games. “Week ended on a high note”. MONEY MATTERS CLUB: CAREER IN BANKING AND FINANCE IN ASSOCIATION WITH FLIP
Money Matters Club of IBS Hyderabad in association with FLIP had organized a seminar on Career in BANKING AND FINANCE. The seminar was well organized and the speaker was Mr H.Jaishankar. Mr H.Jaishankar had done his MBA from IIM Banglore in 1991. He is the Director of, Finitiatives Learning India Pvt. Ltd. (FLIP). Jai has prior work experience at Deutsche Bank (Head, Forex & Short term Derivatives Trading, India), Citibank and ANZ Grind lays. In the seminar, Mr H. Jaishankar has discussed about the types of banks and various financial profiles a fresh MBA graduate can expect from the concerned banks. He also discussed the roles and career progression in Capital Markets, Investment Banking and Corporate Banking. He discussed about the advantages one can take from joining flip Certification Program.
V.A.P.S : SOCCER SIX TOURNAMENT
VAPS recently organized a SOCCER-SIX (FOOTBALL TOURNAMENT 2011). The total number of teams is 12. The venue is football ground, IBS Hyderabad. The final was held on 21/08/2011. the following are the results of the same. GROUP A: TEAM: 1.Carnage 2.Soccer Rookies 3.D6 GROUP B: TEAM: 1.Phuk Phuk Tuggaya UTD 2.RB Juniors 3.Charlie Ke Launde GROUP C: TEAM: 1.Mallware 7 2. Bhand XI 3. K Squad GROUP D: TEAM: 1. Awesome 2.Ram Bharos 3.Maach In the SOCCER-SIX final tournament that was held on 21/08/2011, from the Men‟s final, Team MallWare7 is the winning team and Team Carnage is the runner up. In the Women‟s final, Team Chilli Peppers is the winner and Team Striker is the runner up.
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THE IBS TIMES MARKET WATCH
- SWATI VERMA
With the global economy still bearing the brunt with the weakening of the world equities and commodities due to the economic instability faced by the US and Euro zones, India was not far behind. The week saw a steep fall in the major indices of the country with the Sensex sinking by over 300 points and the Nifty sinking below the 4850 mark. Inflation still remains an issue of grave concern for the countryâ€&#x;s financial planners as they struggle to tame it and keep it under control. Even after 11 rate hikes by the RBI since March 2010 the rate of inflation is still hovering around double digit figures, an exception being the last couple of weeks where it touched the 9.90% mark and ending at 9.03% this week. With the government fighting to control it , more monetary tightening can be seen in the offing. An average monsoon, moderation in the economy, slowdown in key overseas markets and murky progress in disinvestment has led to an increased risk of higher-than-forecast fiscal deficit for India. The sectoral performances were not that impressive either with banking being hit the hardest due to the persistent fear of rising interest rates, thus lowering margins. Most sectors succumbed under the negative sentiments of a global slowdown prevailing in the market. The Movers & Shakers of the Week
SURGES
%Change
DOWNFALLS
%Change
HERO MOTOCORP
7.50
IVRCL Ltd.
-30.4
STERLING BIOTECH
7.50
MOSER-BAER INDIA
-24.4
GODREJ CONSUMER
1.8
EDUCOMP SOLUTIONS
-24.2
Gold climbed to an all-time high of Rs 28150 per 10 grams in the national capital, posting its biggest-ever single day gain of Rs 1310 amid frantic buying triggered by robust demand in global markets. The proposal to divest a 5% stake in BHEL and 10% stake in NALCO, India's top power gear maker and the country's third largest producer of aluminum, respectively is at "various stages" of consideration before the government approves them , Pranab Mukherjee said this week. The government is in the midst of a programme to raise about $8.9 billion through share sales in public sector firms including ONGC and SAIL this fiscal year (April-March) to cut its fiscal deficit and generate funds for schemes for the poor. The government will finalise within a few weeks the first national manufacturing policy that aims to increase the share of manufacturing in the country's gross domestic product to over 25% by 2022 from the current level of nearly 16%. Global Cues: Moody's Investors Service on Friday cut the ratings outlook for Hewlett-Packard Co. to negative from stable, citing uncertainty surrounding the technology conglomerate's plan to shut down its mobile devices business, try spinning off its PC business and pay about $10 billion for business software maker Autonomy Corp. The Asian stocks are set to erase all the gains seen since the start of 2010, after the MSCI Asia Pacific Index fell today by 3.1% to 119.35 fearing the European debt crisis, the challenging conditions in the U.S. and the slowing global economy, thus fueling risk aversion, as sentiment continues to be fragile.
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THE IBS TIMES MARKET WATCH 15 AUGUST 2011
16 AUGUST 2011
17 AUGUST 2011
18 AUGUST 2011
19 AUGUST 2011
Sensex
*
16730.94
16840.80
16469.79
16141.67
Nifty
*
5035.80
5056.60
4944.15
4845.65
DJIA
11482.90
11405.93
11410.21
10990.58
10,817.65
HangSeng
20260.10
20212.08
20289.03
20016.27
19399.92
FTSE100
5350.58
5357.63
5331.60
5086.58
5040.76
Gold ($/oz.)
1766.20
1787.10
1789.00
1824.90
1853.10
Crude($/bl)
104.78
105.42
106.88
105.42
-
INR v/s USD
44.9400
45.2115
45.3212
45.4199
45.7350
INR v/s EURO
64.0139
64.8563
65.2979
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* The markets were closed.
BackFlush- A product costing system generally used in a just-in-time inventory environment. Back flush costing delays the costing process until the production of goods is completed. Costs are then „flushed‟ back at the end of the production run and assigned to the goods. This eliminates the detailed tracking of costs throughout the production process, which is a feature of traditional costing systems. However, this simplification and other deviations from traditional costing systems mean that backflush costing may not always conform to generally accepted accounting principles (GAAP).
BUSINESS JARGONS BY– KRITIKA SETHI
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SourcesThe Economics Times, The Hindu Business Line, Times of India, Business Standard, Financial Ex-press, Financial Times, Business Week, Business World, The Economist, Wall Street Journal, Bloomberg, Reuters, Moneycontrol.com, Vccircle.com, yahoofinance.com, Business Today, India Today, Investopedia.com, Wikipedia.com, DNA, The Deccan Chronicle, The Hindu, The Tele-graph.
EDITORIAL TEAMANKIT SHARMA, AVINASH ROY, AVLEEN KAUR, GAURAV MALIK, KISLAY KUMAR, KRITIKA SETHI, LISA.T.SAMUEL, POOJA DALAL, SWATI VERMA.
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