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August 11: New behind the lens

  • August 11: New behind the lens

    August 11: New behind the lens

  • <p>A pedestrian passes a Vodafone store on Oxford Street in central London</p><p><b>Drugmaker Piramal Healthcare expects its minority investment in Vodafone&#39;s India unit to yield 17-20% returns, its Chairman said, adding he expected the telecom firm&#39;s IPO to hit Indian markets in 12-24 months.</b></p><p>The drugmaker agreed to buy 5.5% stake in Vodafone&#39;s India mobile operations for $640 million on Wednesday.</p><p>Vodafone said Piramal would buy the stake from Essar, its joint venture partner in the country.</p><p>Vodafone had earlier said it will consider an IPO of the Indian unit after it closes the Essar deal.</p><p>

    A pedestrian passes a Vodafone store on Oxford Street in central London

    Drugmaker Piramal Healthcare expects its minority investment in Vodafone's India unit to yield 17-20% returns, its Chairman said, adding he expected the telecom firm's IPO to hit Indian markets in 12-24 months.

    The drugmaker agreed to buy 5.5% stake in Vodafone's India mobile operations for $640 million on Wednesday.

    Vodafone said Piramal would buy the stake from Essar, its joint venture partner in the country.

    Vodafone had earlier said it will consider an IPO of the Indian unit after it closes the Essar deal.

  • <p>A customer buys vegetables from a vendor at market in Ahmedabad</p><p><b>India&#39;s food inflation accelerated to 9.9% in end-July, the highest since mid-March, suggesting the RBI would continue monetary tightening despite uncertainty over the global slowdown.</b></p><p>The RBI has raised interest rates 11 times since March 2010 to tame headline inflation, which quickened to 9.44% in June.</p><p>Almost all forecasts expect headline inflation to remain above 9% until October.</p>

    A customer buys vegetables from a vendor at market in Ahmedabad

    India's food inflation accelerated to 9.9% in end-July, the highest since mid-March, suggesting the RBI would continue monetary tightening despite uncertainty over the global slowdown.

    The RBI has raised interest rates 11 times since March 2010 to tame headline inflation, which quickened to 9.44% in June.

    Almost all forecasts expect headline inflation to remain above 9% until October.

  • <p>Mobile cranes prepare to stack containers at Thar Dry Port in Sanand in Gujarat</p><p><b>India&#39;s exports surged nearly 82% in July as demand soared for engineering goods, petroleum products and readymade garments, but a top official warned bleak global economic outlook may prevent the sector from achieving its annual growth target.</b></p><p>India&#39;s exports grew a record 37.6% to $246 billion in the 2010-11 fiscal year as Asia&#39;s third-largest economy pulled away from the 2008 global financial crisis-led slowdown and set its sights on developing new export markets in the emerging world.</p><p>The sector has shown strong growth in this fiscal year as well, with exports racking up high double-digit growth in consecutive months and notching $29.3 billion in July alone, in line with the Asian giant&#39;s rising global economic ambitions.</p>

    Mobile cranes prepare to stack containers at Thar Dry Port in Sanand in Gujarat

    India's exports surged nearly 82% in July as demand soared for engineering goods, petroleum products and readymade garments, but a top official warned bleak global economic outlook may prevent the sector from achieving its annual growth target.

    India's exports grew a record 37.6% to $246 billion in the 2010-11 fiscal year as Asia's third-largest economy pulled away from the 2008 global financial crisis-led slowdown and set its sights on developing new export markets in the emerging world.

    The sector has shown strong growth in this fiscal year as well, with exports racking up high double-digit growth in consecutive months and notching $29.3 billion in July alone, in line with the Asian giant's rising global economic ambitions.

  • <p>Wiener Philharmoniker gold coins are pictured at the Ginza Tanaka store in Tokyo</p><p><b>Gold dipped from a record high on Thursday but remained in demand by investors seeking safety from market volatility triggered by fears Europe&#39;s debt crisis could spread to France, and oil fell.</b></p><p>Copper bucked the trend, rising on growth prospects in China, the world&#39;s largest consumer of the metal.</p><p>Spot gold touched an all-time peak of $1,813.79, before easing to $1,778 at 1052 GMT, but was supported by investor anxiety that major economies are in deep trouble.</p>

    Wiener Philharmoniker gold coins are pictured at the Ginza Tanaka store in Tokyo

    Gold dipped from a record high on Thursday but remained in demand by investors seeking safety from market volatility triggered by fears Europe's debt crisis could spread to France, and oil fell.

    Copper bucked the trend, rising on growth prospects in China, the world's largest consumer of the metal.

    Spot gold touched an all-time peak of $1,813.79, before easing to $1,778 at 1052 GMT, but was supported by investor anxiety that major economies are in deep trouble.

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