1. It is reported that for the first time, the South African telco MTN has entered in to an exclusively agreement with MTN for merger negotiations with Reliance Communications.
2. Reliance Global-com, a subsidy of Reliance Communications is acquiring Vanco Group, a UK-based network service provider for Rs. 327Cr (US$76.9 million).
3. The stock markets at Mumbai succumbed to weak global trends. The BSE ‘s 30-share sensex ended at 16,348, a six week low, losing 301 points. Stock markets closed flat today. It is reported that the BJP’s win in Karnataka state elections also contributed to the slide. In bullion market, gold closed at Rs.12,800/10gm and silver at Rs.24,955/kg.
4. New gas connections to be costlier. The depost money for the cylinder to be raised from Rs.850 to Rs.1250.
5. Natural (fruit) wine (contains about 11% to 14% of alcohol) can be sold in supermarkets in Bangalore.
6. Stock market regulator, SEBI proposes dedicated stock exchanges for Small and Medium Enterprises (SMEs) with relaxed norms.
7. India joins 13-nation miracle economy club.
8. Indian inflation rate to be revised to10% from 7.82%. In India, the food accounts for about 60% of the total consumer price basket, unlike only 15% in the G7 countries. Thus, food pries weigh more heavily on inflation expectations.
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