1. Art and Diseño

2
HIMALAYAN MIRROR
Post-Obama visit, India high on
US investors' agenda: Jaitley
New Delhi, Jan 28
(IANS):
President
Barack Obama’s visit to
India has helped forge a
new commercial relationship between India
and the US, said Finance
Minister Arun Jaitley
Wednesday.
"President
Barack
Obama's visit to India
has helped forge a new
commercial relationship
with India. The conclave
of Indian and American
CEOs (chief executive
officer) exhibited a
strong confidence about
India. The desire of
American businesses to
invest in India was
great," he said in his
Facebook post 'President
Obama, Davos & After'.
"Their queries related
essentially to the ease of
doing business in India.
With the American economy growing stronger,
US corporates are flush
with funds looking to
invest elsewhere. India
appears high on their
BUSINESS
GANGTOK, THURSDAY 29 JANUARY 2015
agenda," he added.
Indian Prime Minister
Narendra Modi and
Obama met business
honchos from both sides,
during the US president's
three-day visit to India
Jan 25-27.
"Both internal and
external factors favour
India. The United States
is undoubtedly the principal engine of global
economic growth. Its
growth rate is moving up.
Brazil, South Africa and
Europe are facing challenges. China has realistically accepted that 7 per
cent growth rate is their
new normal. The IMF
(International Monetary
Fund) considers this figure as more than normal," the minister said.
He said the oil price
decline has favoured
India as a net buyer.
Observing that India
needs more resources,
day's trade flat. It ended
3.80 points or 0.04 percent up at 8,914.30
points.
The Sensex touched a
high of 29,786.32 points
Nair, head-fundamental
research, Geojit BNP
Paribas
Financial
Jaitley added: "Our
domestic resources are
not adequate. The cost of
our capital is high. The
world is looking to
invest. There are not too
many options which are
more attractive than
India."
"Whereas most competing economies are facing serious challenges,
India is promising to
accelerate its growth.
Hope has revisited us. We
cannot allow obstructionism or complacency to
squander this opportunity. This is a loud and clear
message from Davos," he
said.
Regarding the World
Economic Forum meet at
Davos, the minister said:
"Investors were looking
at India with greater
enthusiasm. The Indiafocussed meetings were
over-attended. Many who
wanted to register for
these meetings were disappointed at the fact that
they could not get entry."
SBI to raise Rs.15,000
crore equity capital
Chennai,
Jan
28
(IANS) : The country's
largest mortgage lender - State Bank of India
(SBI) -- has decided to
raise equity capital of
Rs.15,000 crore to meet
the increased capital
needs for matching the
anticipated growth in
business, the bank said.
The bank said the
equity issue is also to
maintain its capital adequacy ratio (CAR) at 12
percent from fiscal
2014-15 and 2015-16.
According to a filing
with the Bombay Stock
Exchange (BSE), the
bank said post issue the
government of India's
holding will not fall
below 52 percent.
The bank said it would
raise the additional capital through follow-onpublic offer (FPO)/rights
issue/private placement
including qualified institutions placement/ global
depository
receipts/
American
Depository Receipts or a
combination of the all
these.
According to the SBI,
it is confident of getting
the nod from the Reserve
Bank of India (RBI) and
the central government
for the issue.
According to the filing, the SBI's board
would determine the
terms and conditions for
the issue as approved by
RBI and the central government based on the
market conditions.
Suzuki's Gujarat plant in line
with 'Make in India'
Sensex, Nifty scale new intra-day highs, end flat
Mumbai,
Jan
28
(IANS): Positive global
and domestic cues led the
two major indices of the
Indian equities markets to
scale new highs in
Wednesday's intra-day
trade.
However, the two
major indices closed the
day's trade flat on the
back of profit-booking.
The 30-scrip Sensitive
Index (Sensex) of the
S&P Bombay Stock
Exchange (BSE) touched
a new high of 29,786.32
points in the intra-day
trade Wednesday -- surpassing its previous high
of 29,618.59 points
touched only the previous day.
The Sensex, however,
closed the day's trade flat.
It ended 11.86 points or
0.04 percent down at
29,559.18 points.
The wider 50-scrip
Nifty of the National
Stock Exchange (NSE)
too scaled a new high in
the day's trade. It touched
8,985.05 points during
the intra-day trade surpassing its previous
record of 8,925.05 points
reached Tuesday.
Nifty also closed the
points.
The S&P BSE Sensex,
which
opened
at
29,565.72 points, closed
the day's trade at
29,559.18 points -- down
11.86 points or 0.04 percent from the previous
day's close at 29,571.04
and a low of 29,417.67
points in intra-day trade.
"Over the near term as
ECB QE adds strength to
commodity prices and
improve world economy,
India can move ahead as
budget provides higher
confidence," said Vinod
Services.
On the BSE, healthy
buying was observed in
consumer durables, oil
and gas and information
technology (IT) sectors,
while capital goods,
metal and automobile
stocks came under selling
pressure.
The S&P BSE consumer durables index
gained by 474.51 points,
oil and gas index surged
by 147.09 points and IT
index was up 110.54
points.
However, capital goods
index plunged 251.37
points, metal index went
down by 148.94 points
and automobile index
was lower by 146.15
points.
The major Sensex
gainers were HDFC, up
2.21
percent
at
Rs.1,344.70; Reliance
Industries, up 1.92 percent at Rs.905.85; Wipro,
up 1.48 percent at
Rs.606.70; State Bank of
India (SBI), up 1.41 percent at Rs.334.45; and
ONGC, up 1.27 percent
at Rs.354.10.
The losers were Bharti
Airtel, down 4.99 percent
at
Rs.373.75;
Sesa
Sterlite, down 2.90 percent at Rs.200.80; Tata
Motors, down 2.64 percent at Rs.589.15; Larsen
and Toubro (L&T), down
2.51
percent
at
Rs.1,697.65; and Tata
Steel, down 1.80 percent
at Rs.390.90.
Rupee down 10 paise
Celebrating 7 years of Happiness at
against dollar in early trade
Cosmos and Launch of Happy
Mumbai 28 Jan : The rupee fell by 10 paise to
61.51 against the dollar in early trade on Wednesday
at the Interbank Foreign Exchange market due to
appreciation of the US currency overseas.
Forex dealers attributed the domestic currency's
fall to the dollar's gains against other global currencies and a lower opening in the domestic equity
market.
The rupee had ended marginally higher by one
paisa at 61.41 against the American currency in
Tuesday's trade amid volatile markets on the back
of a higher dollar overseas.
Ahmedabad, Jan 28
(IANS):
Automobile
firm Suzuki Group
Wednesday said its
upcoming manufacturing
facility in Gujarat is in
line with the "Make in
India" programme and
will focus on high productivity and efficiency.
"For the Suzuki group,
setting up of this new
manufacturing facility in
Gujarat is the start of a
new era," Osamu Suzuki,
chairman and chief executive, Suzuki Motor
Corporation, said on the
sidelines of the foundation stone-laying ceremony of its Gujarat plant.
"Under the 'Make in
India' programme proposed by Prime Minister
Narendra Modi, we will
set up a state-of-the-art
production plant here in
Gujarat, with high focus
on productivity and efficiency."
On
the
occasion,
Suzuki called for deepening of ties between India
and Japan.
“Thanks to this project,
many more Japanese
people will travel to
Gujarat. Let us deepen
friendship and mutual
understanding between
India and Japan," Suzuki
added.
Gujarat Chief Minister
Anandiben Patel laid the
foundation stone for the
new vehicle manufacturing plant at the Hansalpur
premises.
The Suzuki Group
intends to set up three
plants at Hansalpur with
a total annual capacity of
750,000 vehicles.
The first plant is scheduled to start production in
mid-2017. It is being set
Apple breaks records
with iPhone 6 sales
Singh Food Xxpress
Indian luxury market
to reach $18 billion by
2017: Study
New Delhi, Jan 28 (IANS): The Indian luxury market
is expanding fast and would reach $18 billion mark by
2017 from its existing level of $14 billion, a joint study
from an industry association and a private bank said
Wednesday.
According to an Assocham and Yes Bank's market
study, increasing brand awareness among the Indian
youth and rising purchasing power of the upper class in
tier II and III cities would lead to consumer spending
touching $4.2 trillion by 2017.
Fashion, fine dining and automobiles are the primary
components which would register the highest growth in
the luxury segment.
The study also said global consumer spending, too, is
on the rise, and is expected to reach $40 trillion by 2020,
with an unprecedented growth of $12 trillion in a decade.
"The Indian luxury market is poised to expand threefold in the next three years and the number of millionaires is expected to multiply three times in another five
years," the association's secretary general D.S. Rawat
said.
With the luxury market expected to grow at over 20
percent on a year-on-year basis, private equity investments in the luxury segment are expected to increase.
Siliguri, Jan 28: It’s
been 7 years since
Cosmos
Mall
has
opened! It has grown
with lots of brands, lots
of customers and most
importantly with lots of
love from the people of
Siliguri, making Cosmos
the Mega Mall of
Siliguri.
Every single person
who walks into the shopping centre should have
an experience is what
the team at the mall
thrives for. Not just to
come, buy something
and leave.. But to know
that stepping into COSMOS means that this is
going to be an awesome
day!
To keep the smiles and
experience on; the mall
anniversary celebrations
this time has increased
by adding on one more
feather in their crown –
Grand
opening
of
“HAPPY
SINGH
FOOD
XXPRESS”,
Food Chain run by
Master Chef India fame
Mr. Happy Singh.
Arijit
Chatterjee,
Centre
Manager,
Cosmos Mall, thanked
all its retailers and customers on this occasion
for making Cosmos
Mall a success. He also
added, “As one of the
prime shopping centres
of Siliguri, we continuously strive to bring the
best for our customers
through our distinguished brand offering,
special
events
and
unmatched offers”.
up at an investment of
about Rs.3,000 crore, and
will have an annual
capacity of 250,000
units.
The new vehicle manufacturing plant will come
up on over 640 acres. It
will also have an integrated suppliers' park.
According to the company, the vehicles manufactured at these facilities
will be supplied exclusively to Maruti Suzuki
India to support its objective of reaching annual
sales of two million units
in the medium term.
Los Angeles, Jan 28
(IAN/EFE): Technology
giant Apple closed 2014
with a record breaking
quarter thanks to the sales
of iPhone, particularly
the new iPhone 6, which
raised its net profit to
$18.02 billion, a 37.8 percent
year-on-year
increase, the company
said.
According to a company statement Tuesday, the
company took in $74.5
billion between October
and December -- 29.5
percent more than a year
ago -- with a 36.1 percent
increase in its margins.
Apple CEO Tim Cook
described the results as
historic and incredible
surpassing the expectations
of
financial
investors where technology shares climbed more
than five percent on
trades executed following
the end of the day at Wall
Street Tuesday.
In total, Apple marketed 74.5 million phones in
the fourth quarter -- 46
percent higher than a year
earlier -- and although
Cook gave no details, he
said the iPhone 6 was the
most popular device,
much more than iPhone 6
Plus and the earlier
iPhone 5S and 5C.
"We are doing well in
almost all places of the
world," said Cook with
respect to the iPhone
sales that attracted a
greater number of smartphone users than ever
before, and the highest
percentage of change
from Android to Apple
devices in the past three
years, according to its
data.
China and Brazil registered the highest sales of
these phones.
Apple saw a turnover
of 57 percent more per
sale of iPhones in the last
quarter than in the same
period in 2013, and its
phone business accounted for 68.6 percent of
total revenues.
The company also celebrated the sales of Mac
computers, which grew 9
percent, and the activities
through their electronic
commerce
platforms,
such as the App Store,
which also grew nine percent year-on-year.
However, the sale of
iPads registered a fall of
18 percent (21.4 million
total) in terms of units
and a 22 percent year-onyear decline in revenue, a
trend that Cook believes
will remain in the next
quarter.
A factor listed by Cook
for the tablet's declining
sales is the life cycle of
the iPad, since users usually do not renew the
device as often as they
change phones.
Cook was also pleased
with the iPhone payment
technology, Apple Pay,
and believed that 2015
would be the year of the
system, as will the launch
of the smart watch Apple
Watch that will debut in
April.