February 09: Snapshots
February 09: Snapshots
Engineers attend to calls from abroad inside a call center in Gurgaon on the outskirts of New Delhi
Patni Computer Systems today reported a decline of of 2.71% in net income for the quarter ended Dec 31, 2010, to Rs 177.3 crore, as per the US' GAAP accounting standards.
The company had registered a net income of Rs 182.25 crore in the same period last year, Patni Computer Systems said in a filing to the Bombay Stock Exchange.
Net revenue of the software provider rose to Rs 823.5 crore in the October-December quarter from Rs 765.9 crore in the corresponding period of the previous year, it added.
The sun rises behind a communications tower in New Delhi
In a development that has huge financial implications for existing as well as new operators, telecom regulator Trai has recommended fixing the price for 6.2 Mhz of pan-India start-up 2G spectrum at Rs 10,972.45 crore, more than six times the present cost of Rs 1,658 crore.
In its recommendations to the Department of Telecom (DoT), Trai has also said that every Mhz of additional spectrum (on an all-India basis) beyond the contracted limit of 6.2 Mhz would cost a massive Rs 4,571.87 crore.
Most of the telecom firm, including Bharti, Vodafone, Idea and state-owned companies like BSNL and MTNL, hold extra spectrum beyond 6.2 Mhz and the new norms would put a huge financial burden on these telcos.
Gripen fighter aircrafts taxi during the NATO exercise Loyal Arrow near Lulea in northern Sweden
India's contract process to buy 126 fighter jets valued at about $11 billion is \"going smoothly\" and is expected to be completed in the fiscal year ending March 2012, Defence Minister A K Antony said on Wednedsay.
Saab's JAS-39 Gripen is competing with Boeing's F/A-18 Super Hornet, Dassault's Rafale, Lockheed Martin Corp's F-16 and Russia's MiG-35 to win a contract from India for the fighter jets.
A vendor stands next to tomatoes at a local market in Shanghai
Like the timing of most investment decisions, the moment to stop betting on higher world inflation may well be when everyone else starts worrying about it.
For sure, mass expectations of higher inflation have proven to be a self-fulfilling prophecy in the past via aggressive wage bargaining and firms' greater confidence in their pricing power.
But timely and pre-emptive interest rate rises by the world's major central banks too have proven to be powerful in containing those expectations.
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