Reforms may be ringing in especially after the Telecom Commission (TC) approved the proposal to raise the cap on foreign direct investment (FDI) in the telecom sector to 100% from the current 74%. Once ratified, the new policy will allow foreign telecom operators to buy out existing Indian partners, as they will no longer need to have a minority shareholding in the country.
But the market attention globally is now on the tensions in Egypt which has sent oil prices near $100 a barrel. Fear is that tensions could spread in other parts of the Middle East. Egypt's military leaders declared the army "will sacrifice our blood" to defend the country, hours after President Mohamed Morsy refused to bow to a military ultimatum.
We are staring at a weak to flat start for the day. US indices closed weak ahead of non-farm payrolls report on Friday. On Thursday US markets are closed for Independence Day. The Dow fell 0.28% while Standard & Poor's 500 Index lost marginally. The Nasdaq too was down a tad. Asian markets are also mimicking the US. Japan's Nikkei is half a percent lower while Hong Kong's Hang Seng has lost 1.2%. South Korea's Kospi is marginally down while China's Shanghai index has lost over a percent.
ECB on Tuesday said that the euro's share among the currency reserves held globally by central banks fell to 23.9% in 2012 from 25.1% the previous year.
Financial Service Secretary Rajiv Takru reiterated FM's words that there is no cap on the number of new banks that will come up.
To give wings to the idea of Air Asia flying destinations in India, Chairman Emeritus Tata Group Ratan Tata and AirAsia chief Tony Fernandes on Tuesday met Aviation Minister Ajit Singh and updated him of the latest appointments and other developments in the proposed airline.
The weakening rupee has seen FIIs fleeing the debt market. Outflows YTD stood at $1.8 billion.
There is weekly meeting of Union Cabinet and Cabinet Committee on Economic Affairs this evening.
Finance Minister P Chidambaram will interact with heads of public sector banks today.
HIND COPPER Offer for sale to sell 37.1 mn government shares of Hindustan Copper. The govt has fixed the floor price of the issue at 70 rupees per share.
CCL Products India will consider stock split today. Steel Exchange India to mull Simhadri Power will mull merger with co. Tamilnadu Jai Bharath Mills will consider loan conversion.
But the market attention globally is now on the tensions in Egypt which has sent oil prices near $100 a barrel. Fear is that tensions could spread in other parts of the Middle East. Egypt's military leaders declared the army "will sacrifice our blood" to defend the country, hours after President Mohamed Morsy refused to bow to a military ultimatum.
We are staring at a weak to flat start for the day. US indices closed weak ahead of non-farm payrolls report on Friday. On Thursday US markets are closed for Independence Day. The Dow fell 0.28% while Standard & Poor's 500 Index lost marginally. The Nasdaq too was down a tad. Asian markets are also mimicking the US. Japan's Nikkei is half a percent lower while Hong Kong's Hang Seng has lost 1.2%. South Korea's Kospi is marginally down while China's Shanghai index has lost over a percent.
ECB on Tuesday said that the euro's share among the currency reserves held globally by central banks fell to 23.9% in 2012 from 25.1% the previous year.
Financial Service Secretary Rajiv Takru reiterated FM's words that there is no cap on the number of new banks that will come up.
To give wings to the idea of Air Asia flying destinations in India, Chairman Emeritus Tata Group Ratan Tata and AirAsia chief Tony Fernandes on Tuesday met Aviation Minister Ajit Singh and updated him of the latest appointments and other developments in the proposed airline.
The weakening rupee has seen FIIs fleeing the debt market. Outflows YTD stood at $1.8 billion.
There is weekly meeting of Union Cabinet and Cabinet Committee on Economic Affairs this evening.
Finance Minister P Chidambaram will interact with heads of public sector banks today.
HIND COPPER Offer for sale to sell 37.1 mn government shares of Hindustan Copper. The govt has fixed the floor price of the issue at 70 rupees per share.
CCL Products India will consider stock split today. Steel Exchange India to mull Simhadri Power will mull merger with co. Tamilnadu Jai Bharath Mills will consider loan conversion.
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