Top World Business Stories
Japanese Economy is facing tough times as GDP has witnessed decline of 12.7% during the last quarter. The GDP fell for third quarter as exports were lower by 13.9%. Japan’s Nikkei has fallen nearly 12% this year.
While crude oil prices are declining, the price of gasoline is rising in many US States. During year end, the prices of gas were at $1.61 and have climbed up to $1.97 this Sunday. As most refiners have reduced production, the average utilization is at its lowest in last 17 years.
Chinese Officials have criticized “Buy American” requirements of US plans for economic revival. Chinese Commerce ministry official Yao Jian said that Beijing was deeply concerned about protectionism.
Indian Finance Minister will present interim budget on Monday. Market experts believe that the UPA government will offer many Tax sops in the budget during the election year budget.
Canada would see a deficit of $64 billion over the next two years which will include $34 billion during first and $30 billion during the second year.
BMW may soon announce layoffs for 850 Mini workers. Pharmaceutical major Glaxo will announce price cuts for poor nations.
Forex Update
Euro USD 1.2898
USD Yen 91.9600
GBP USD 1.4398
CAD USD 0.8092.
Top India Business Stories
Indian Finance Minister will present Interim Budget today. Market experts are looking forward to relief for common man as the elections are approaching. Government may announce small tax cuts.
Oil PSUs are facing tough time as fuel credit for major Indian Airlines has crossed Rs 1000 crore mark. Various Airline companies are under pressure due to lower sales and high oil prices.
Bartronics has received order worth Rs 5000 crore from Municipal Corpration of Delhi to install 2000 kiosks which will serve as data banks for local consumers, businessmen and service providers.
Life Insurance Corporation has launched a new policy, Jeevan Varsha.
Indian Stock markets were trading lower after first one hour of trading. Markets are looking for the cues from Interim Budget.
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