Terrorists struck at India's financial capital tonight as at least five near-simultaneous firings and explosions rocked areas in the vicinity.
of posh hotels in South Mumbai, leaving two persons dead and ten injured. Armed with AK-47 rifles and grenades, a couple of terrorists entered the passenger hall of crowded Chhatrapati Shivaji Terminal (CST) railway station and opened fire and threw a grenade killing two to three persons, Mumbai General Railway Police Commissioner A K Sharma said. He did not give details.
Two explosions also went off outside CST and eyewitnesses reported they heard gunshots outside the railway station building
AFTER CITI, IS BANK OF AMERICA NEXT IN BAILOUT QUEUE?
A government rescue plan has eased investors’ concerns about Citigroup Inc, but mines lurking in the balance sheets of rivals including
Bank of America Corp could still tempt short-sellers.
Bank of America, the No 3 US bank by assets, has loaded up on mortgages as the world’s largest economy wrestles with the worst housing market since the Great Depression.
If losses on mortgages and other debt securities mount significantly, the bank may see the ratio of equity to risk-weighted assets, known as Tier-1 capital, dwindle to alarmingly low levels.
GLOBAL DOWNTURN LIKELY TO CONTINUE FOR NEXT TWO YRS: EXPERTS
The global economic downturn is going to continue for next one and half to two years. Post the downturn, the economy will stabilise but at a much lower level (in relative GDP growth rate) compared to the booms that we saw in 2005-2007 era," said Mayank H Shah, Global capital markets and Derivatives expert and Associate Partner at IBM. Besides, a recent survey of global fund managers by Merrill Lynch revealed that four out of every five investors believe the world will continue to be gripped by recession in the coming years.(Source: Ecnomic Times)
-Radhika Shukla
ACM 22
Banks operating in India-including foreign ones-may soon be able to open new branches and set up automated teller machine (ATM) without a license from the Reserve Bank of India as per the finance ministry source.
Piramal Fund Buys Rs 300cr Stake In Realty Co Neptune
AJAY Piramal promoted real estate fund Indiareit has acquired about 15% stake in Mumbai based developer Neptune group for around Rs 300cr which assumes significance as the fund has chosen to invest in the company rather than the usual practice of investing in individual projects.
Rs 76,000 Cr Projects Are On Hold
The slowdown in economy and weakening consumer demand are now starting to bite. According to a study by the Centre for monitoring industrial projects (CMIE), projects worth Rs 76,538 crore were shelved in the first two quarters of this financial year.
Sega May Land Deal For India Reentry With DLF
Global gaming and theme park leader Sega Corp, is in talks with DLF for a possible India entry. Talk focused on enveloping indoor gamings complexes. DLF will be providing land and Sega its gaming expertise.
Source: Economic Times
-Chinmayee Pradhan
ACM 22
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