Weekly NEWS

(12 -18 Sept 2010)

Presented By:
Ishudeep Kaur
MBA-2 C

1 PUNJAB COLLEGE OF TECHNICAL EDUCATION

Latest buzz in the Indian IT sector

India has said 'protectionist tendency" in the United

States would deepen recession and delay global
economic recovery.

America’s worsening economic climate and incendiary political rhetoric could end up
hurting the fortunes of India’s $50-billion outsourcing industry as US firms start
avoiding overseas contracts fearing a backlash from skittish politicians.
RBI hikes repo rate by 25 bps, reverse repo rate by 50 bps

The Reserve Bank of India The RBI lifted the repo rate, at The hike in rates will lead to
raised interest rates more which it lends to banks, by 25 a rise in cost of funds for the
aggressively than expected on basis points to 6 percent and banks and eventually makes
Thursday, keeping up its fight raised the reverse repo rate, loans expensive, which will
against inflation, but used to absorb excess cash, by reduce consumption. 
signalled that it may be 50 basis points to 5 percent.
nearing a pause in its current The new rates, which comes
tightening cycle.  into effect immediately. 
 Amway planning second facility in India

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Durables makers won't hike prices this festive season

Consumer durable makers Durable makers such There has

have decided against a as Godrej & Boyce,
hike in prices in the Samsung and
been a 4-5%
festive season, which sees Videocon have said increase in the
a jump in sales, despite a
rise in raw material prices.
that they would input costs for
Steel makers like Tata rather absorb the high durable
Steel, SAIL, Jindal Steel, costs than play party
among others, have pooper for their makers. 
recently raising prices.  consumers.
Sahara makes $2-bn bid to buy MGM Studio

Sahara India Pariwar, an Indian conglomerate with real estate and media holdings,
says it has made a $2-billion bid to buy the debt of struggling Hollywood studio
Metro-Goldwyn-Mayer Inc.

The new offer, comes a day after MGM said it had gotten another extension on an
agreement to put off interest payments on about $4 billion in debt until October 29.

The studio has rights to the James Bond franchise and owns half of the upcoming
movies based on JRR Tolkien's “The Hobbit”.

It is facing possible bankruptcy but has several suitors, including Spyglass

Entertainment, Time Warner Inc and Lions Gate Entertainment Corp.
High
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Despite gold having crossed Rs 19,000 per 10 gram, India’s leading gold
jewellery retailers are gearing up for higher sales during this festival season
thanks to a good monsoon and resurgent economy. Retail chains such as
Tanishq, Gitanjali Gems, Rajesh Exports, Shrenuj and others are expecting
40% growth in festival demand this year. 
Motorola hopes to launch tablet computer by early 2011

Mobile phone giant Motorola is looking at launching its tablet computer

early next year, as the firm hopes to expand its product line beyond cell
phones.

The tablet would be Motorola's answer to Apple's iPad which has

dominated the market since its launch in April this year," added Jha.
Apple said in June that it has sold three million of its iPad tablets

Jha has tried to turn around Motorola's troubled cell phone business by
refocusing it on smart phones powered by Google Inc's Android
operating system.
CONT……..

Jha is eager to get into the tablet business, but indicated that he is thinking about new forms of mobile computing.

He is also interested in models that are "even more smartphone-centric. Other phone makers have also been lining
up their tablet computers to take on the iPad.

Samsung Electronics unveiled its seven-inch Galaxy Tab in the US market today, while Dell too launched a five-inch
tablet.

Google has made clear it doesn't think the latest version of Android, called Froyo, is appropriate for tablet devices