There are many interesting news flow- one is our Prime Minister speaking to Media where he has said that he is not retiring and Cabinet reshuffle is on cards and differences between minister’s & government and party is normal nothing to worry about. Election is near and now we will hear more of our Prime minister who next day said, “China is seeking to expand its influence in South Asia at India's expense”. This is one major issue many are talking and now we hear from our PM also but important was this was an off-record comment which was published. But important for us is China is a concern.
http://blogs.wsj.com/
China is seeking to expand its influence in South Asia at India's expense, Indian Prime Minister Manmohan Singh warned in rare public criticism of his country's rival for regional resources and geopolitical clout.
PM hints at Cabinet reshuffle; says he is not retiring ---Rejecting perceptions that there was a disconnect between his government and the Congress party, Prime Minister Manmohan Singh said on Monday that expression of different view points was not "necessarily a bad thing". He did not see anything wrong in ministers and party functionaries expressing different points of view because the Congress party itself was a movement within which there have been differences of opinion as happens in a democracy. http://economictimes.
IIP data due on Friday when market holiday would be important as indication are that it would be single digit growth as base effect increase and Global growth pressurizing Indian Export.
http://economictimes.
TECH stock Woes continue after U.S state Ohio banned outsourcing of Government IT and back-office projects to offshore locations such as India and fear is if other states also follow this. Unemployment is a major issue and Indian IT sector would be target of Developed nation due to political compulsion.
The US state of Ohio has banned outsourcing of government IT and back-office projects to offshore locations such as India, raising fears of similar moves by other American states struggling to cope with high unemployment rates.
Indian software companies such as Infosys Technologies and Wipro are entering the unfamiliar area of vendor financing, at the urging of cash-strapped US customers, by using reserves accumulated over years to invest in so-called software platforms that run activities like payroll processing. http://economictimes.
Infosys will never be the same after Murthy: Thomas Friedman http://economictimes.
Global News : Europe is back in news and
Germany will not support prolonging rescue mechanisms to underpin the euro indefinitely because too much help would damage the European single currency, Chancellor Angela Merkel said on Tuesday. Germany, which has shouldered the biggest share of risks in a bailout of Greece and a 750 billion euro package assembled to protect the euro currency, has been pushing for tougher budget rules to avoid a repeat of the euro debt crisis in future. http://www.moneycontrol.com/
Equity Funds Have Biggest Outflows in 14 Weeks at $6.87 Billion, EPFR Says http://www.bloomberg.com/news/
