WEEKLY NEWS – 4FOR THE WEEK ENDED 17th SEPT,2010

SUBMITTED BY:NAVNEET MALHI

MBA 2A

Loans to pinch more as RBI hikes key rates.Loans for corporate & individuals set to be

costlier.RBI increases Repo Rate(lending rate) BY 25

bps to 6% & Reverse Repo Rate (borrowing rate) by 50 bps to 5%.

This narrowing of difference between these two policy rates is expected to bring stability in call money market.

ICICI finally integrate BOR employees with itself. BOR(Bank of Rajasthan) employees are offered

2 stages increase in wages for accepting ICICI HR Policy which include

- Dropping out of trade union membership . - Adhering to the Bank’s 9 to 6 work hrs.BOR employees salary increases by 20-25%.Wage bill of BOR gone up from 150 cr. To 185

cr.ICICI staff close to 50,000 & BOR employees

are only 4000.

IBM to handle IT for Bharti Airtel's Africa operations

India’s top mobile phone firm Bharti Airtel hugely outsourcing Africa by awarding a $1.5-billion contract to IBM for managing its IT requirements across 16 countries in the continent.

The 10-year deal will involve IBM consolidating Airtel’s IT operations in Africa into one integrated system.

FII rally may propel Sensex towards 20K

Indian stocks rose to a fresh 32-week high on Friday.

Fuelling expectations of the benchmark Sensex topping the 20,000 mark next week on the back of abundant foreign fund inflows.

Over the last six months, foreign investors have

been the primary drivers of the rally, buying at every given opportunity.

Food Inflation jumps to 15% on supply constraints

Inflation in food articles in the new series with 2004-05 base was 15.1% for week ended sep 4 as compared to 14.6% in week before.

There are some supply side constraints due to rains. Areas like Punjab, Haryana, Maharashtra have seen huge disruption by rains.