Bye Bye Year 2004

Best Of Economy & Finance

Oil's Not Well-

Zooming oil prices caused widespread panic across the world. Although oil prices fell from the peak level of almost $50 per barrel on August 20, they remained higher than ever in 2 decades. Experts say that a $ 10 increase in oil prices reduces global economic growth by 0.5%.

Global Trust [?] Bank-

On 24th July the collapse of India’s shining star among private banks the GTB set off a 72 hour heart wringing nightmare for the depositors till RBI announced its merger with Oriental Bank Of Commerce. At the time of going bust, GTB had Rs. 3,276 crore of advances about 6,920 crore of deposits, 234 ATM’s and 1050 employees and much more.

IPO Boom-

Maruti, Biocon, NTPC,ONGC, TCS… India’s primary market is on a record setting spree. As much as 23,903 crore has already been raised in the primary markets in the current calendar year. This is more than the Rs. 17,499 crore raised in the last 8 years and to top that, over 100 IPO’s are lined up for the next year. Watch out for more on this !

FII’s Inflow-

30th November was a historic day for the equity markets as annual investments by Foreign Institutional Investors hit a record high of $6.64 billion, eclipsing the $6.57 billion mark set in 2003. Since then the inflows continue to rise and rise… and rise…Dec. 16th, the FII inflows stood at $6.99 billion.

Made In China-

Chinese Brands gave MNC’s a scare both at home and abroad, as China learnt to market products as well as it manufactures them. The World Bank said that more than 30,000 Chinese firms have invested more than $35 billion in over 50 countries & China’s top 5 domestic brands are already worth more than $15 billion.The $1.25 billion deal in Dec. with IBM Corp. selling its PC business to China’s Lenovo making it the world’s third largest PC maker. The dragon is getting fiery..

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