1. To protect the interests of shareholders, Ministry of Corporate Affairs has directed the Registrar of Companies to conduct a quarterly review of the end use of funds raised through IPO and check if there is any mismatch with the prospectus.
2. Teledensity of mobiles in the 4 metros has crossed the 100 % mark. This means that there are more mobiles than residents with some individuals having more than 1 mobile.
3. With the withdrawal of the former foreign minister of Afghanistan Abdullah from the run-off election for the Presidency in Afghanistan scheduled for 7th Nov, the incumbent President Hamid Karzai has been declared the winner.
4. Surgeons in London have successfully carried out the world’s first heart surgery using radiation. The technique uses a radiation scalpel called Cyberknife.
5. In another major bank bankruptcy in USA, CIT Group has declared itself bankrupt. This has raised fears that recovery signs shown by the US economy are based on shaky foundations. CIT operates in 50 countries and is a major lender to small firms.
6. In a buying spree, GOI has bought 200 tons of gold valued at $ 6.7 billion out of the 400 tons offered by IMF in an attempt to diversify its foreign exchange holdings. With this purchase RBI has the 10th largest gold holdings amongst Central Banks across the world.
7. Exports declined by 13.6 % to $ 13.6 billion in September compared to the same month last month. This is the 12th consecutive month of decline.
8. Land Rover India has made available its latest 2010 Range Rover in India .It is priced at a whopping Rs.98.5 lacs Ex-Mumbai.
9. Pranav Mistry ¸an Indian researcher at MIT,USA has applied for a patent in the USA for a device that he calls “ SixthSense “. It is a device that can be worn on any part of the human body, say, the left wrist and use the right hand to draw a watch like circle. Which then gets converted into a visual display by merging the physical and digital data. It thus enables the user to explore digital data in off line transactions.
10. In a dramatic announcement ¸ Justice RV Raveendran of the Supreme Court who was hearing Ambani brothers gas pricing case has withdrawn from the case citing conflict of interest since his daughter works for a solicitor company advising Mukesh Ambani’s RIL on other global projects.
11.Wipro has acquired Yardley’s business in Asia , West Asia ,Australasia ,and certain African markets from the UK based Lornamead Group for Rs.210 crores.This buy out is expected to give a boost to their consumer care and lighting business which currently contributes 9 % to its turn over. Yardley is a niche brand in fragrance bath & shower, skin care consumer segment and owns famous brands like Lavender & Red Rose in the perfume segment.
12. In an epoch making decision, GOI has decided to disinvest 10 % of its holding in PSU companies both listed and unlisted. which registered net profits for the last 3 years. Of the 242 PSU’s only 46 are listed. Some of the major unlisted PSU’s are BSNL , Coal India etc. About 100 PSU’s will fulfill the profit criteria. The expected revenue will be Rs. 60,000 crores which will be used for capital expenditure in social sector schemes. This will greatly help the GOI in reining in the projected fiscal deficit of 6.8% for 2009-10. In the annual budget disinvestment proceeds were pegged at Rs.1120/- crores only which was the lowest in 5 years.
13. After 3 consecutive qtrs of net losses, the world’s largest auto maker Toyota registered a net profit of US $ 242 Million for the qtr July-September 09.
14. India and European Union have signed a civilian nuclear deal to promote collaborative research.
15. Australia has established a 3-2 lead in the 7 match one-day series with India being played in India.
16. Sachin Tendulkar , the highest one-day run getter in ODI , reached another personal milestone by crossing 17, 000 runs with his centaury in the 5th ODI against Australia.
