Fwd: Today's Exclusives - Global selloff in the making?

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From: Moneylife <noreply@moneylife.in>
Date: Thu, May 5, 2011 at 7:14 PM
Subject: Today's Exclusives - Global selloff in the making?
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5 May 2011   Moneylife Exclusive Global selloff in the making? Moneylife Digital Team The Indian market has been down for nine days in a row for the fist time since 2001. Commodities are falling sharply and all European markets are down. Is this a turning point?     Exclusive Column     Why are our income-tax and foreign exchange management laws riddled with so many incongruities? Nagesh Kini Right from the definition of a 'senior citizen' for tax evaluation to the definition of a 'Non-Resident Indian', our tax and forex laws are full of inconsistencies and discrepancies. It is high time the government removed these lacunae...       Other ML Exclusives   Will insurance agents vanish in the face of competition from banks? Insurance in India has predominantly been sold through agents. And insurers have big plans to enlarge their agent network. However, IRDA believes that banks are the distribution channel of tomorrow... ................................................................................................................................................ Sundaram launches scheme to invest in equities and gold ETFs Such hybrid funds are in fashion now. They leave investors confused about how to fit such schemes into their asset allocation ... ................................................................................................................................................ Scam: Radia's second bomb Explosion on the eve of the Tamil Nadu elections ... ................................................................................................................................................ Banswara Syntex: Weaving strength The Indian textiles industry has been reporting strong global & domestic sales... ................................................................................................................................................ Auto sales moderate in April, but two-wheelers buck the trend, with Hero Honda leading the pack The sector has witnessed two years of healthy growth, but inflation, higher interest rates and rising prices of fuel may muddy the waters for the automobile industry... ................................................................................................................................................ Lok adalats: Power to the people Lok Adalats are a hassle-free way to settle consumer complaints, but they need to be popularised... ................................................................................................................................................ Personal finance today Tata Mutual Fund unveils 366 days fixed maturity plan DWS Investments launches Fixed Term Fund Series 82 Star Union Dai-ichi Life introduces two new products SUD Life total premium grew by 76% in FY11   At a Glance   - Food inflation falls to 8.53% for the week ended 23rd April - Bharti Airtel Q4 profit down 31.5%, ARPU slips; stock under pressure - Ranbaxy, USFDA in settlement talks, may pay $1 billion - Growth forecast to be revised downward: Chief economic advisor - Bank credit up 22%, deposits rise 17.5% - 2G scam: SC dissatisfied over tardy tax evasion probe     Corporate Wrap-up   - Indian Bank hikes base rate, BPLR by 50 bps each - Oberoi Realty Q4 net up 30% at Rs136 crore - Escorts reports 77% jump in Q2 net profit; to set up new plant   Moneylife Columns     Futile Central Registry Rules impose a heavy burden on banks Vinod Kothari The SARFARESI Act does not fulfill the purpose of registration of security interests. For, the Central Registry does not guarantee reliability. Therefore, the law as it stands is a futile and very costly exercise...     Right to Information: Don't take it lightly if you are told that a file is "missing" Vinita Deshmukh In many cases the public information officer might give the excuse that the file cannot be found, simply to dodge your RTI query. Remember, he cannot get away so lightly, for a "missing" document is government property and department officials are answerable for its disappearance...     Face 2 Face   Max Bupa CEO: IRDA needs to be flexible In an interview to Moneylife, Dr Damien Marmion says the insurance regulator needs to be flexible in approving premium increases, to reduce the delay and allow consumers decide what is the right and wrong premium...   Editor's Pick   Why was Osama killed and not captured? The US tortured innocent farmers, children, and grandparents... supposedly to get information about Bin Laden. But the government wasn't interested in actually interrogating Bin Laden himself. ...................................................................................................................................................... The markets and the Fed's destabilising factor The Fed is not allowing markets to be markets. In fact, it has become a highly destabilising market force that significantly contributes to the volatility of the business cycle. ...................................................................................................................................................... Unlisted commodity traders are eclipsing the big ones Glencore's IPO will probably catapult the commodities firm from relative obscurity on to the FTSE 100 list of most valuable stocks this month. That spells bad news for Goldman Sachs and Morgan Stanley, two of the Street's biggest commodities-trading companies. ...................................................................................................................................................... The rich will get richer Public and private investments controlled by the richest families are expected to more than double in value to $202 trillion by 2020, from $92 trillion this year. ...................................................................................................................................................... A sneak peek at Apple's new iMac It's got a whole range of new gizmos inside... ...................................................................................................................................................... Cartoon of the week When there was a leak in WikiLeaks. ...................................................................................................................................................... Book Review   Kill Bill Devarajan Mahadevan You cannot amuse—or educate—yourself with this compilation...   FROM the ARCHIVES   Banks must pay Rs100 a day penalty for delay in reimbursement for failed ATM transactions In the event of a failed ATM transaction and the amount being debited from a customer's account, the bank must reimburse the customer within 12 days of such a complaint. Otherwise, it is liable to pay a penalty. Hundreds of such cases happen daily, but very few people are aware about this RBI rule and most banks are happy to ignore it. Sharad Phadke, a Pune resident, used the RTI Act to force Bank of India to pay up... ...................................................................................................................................................... Health insurance reports from the Insurance Information Bureau—an IRDA body—are riddled with errors The media has used data from the Insurance Information Bureau—set up by IRDA—for coming up with various reports, but there are a number of lacunae in the data from the bureau. The bureau's reports themselves come with a disclaimer about errors and omissions in the data...   Forthcoming Events   Investor Empower Yourself, in Delhi, for the first time Moneylife Foundation is conducting a day-long seminar in Delhi, to help investors empower themselves. The event will be held on Saturday, 7 May 2011, from 10am to 4pm. Admission is free. Click here for details and registration ...................................................................................................................................................... How to use the Right to Information Act effectively Mr Bhaskar Prabhu, Convenor of the Mahiti Adhikar Manch, will address a workshop on 'How to use the Right to Information Act effectively', on Saturday, 14 May 2011, at the Moneylife Knowledge Centre. This is the second workshop on the RTI issue in a month following the overwhelming response to the first programme on 16th April. Admission is free. To register, please message us at mail@mlfoundation.in or call Dione/Judith on 2444 1058. Click here for more details.     To subscribe to this free newsletter log on to www.moneylife.in or email us at newsletter@moneylife.in To get FREE updates via sms click here.

 

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Palash Biswas
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