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November 23: The lensman`s view

  • November 23: The lensman`s view

    November 23: The lensman`s view

  • <p>A shopkeeper holds a garland made of rupee notes inside his shop at Noida in UP</p><p><b>The RBI will intervene to smooth sharp movements in the rupee and prevent a downward spiral in its value, but will balance this with the need to retain reserves in the event of prolonged turbulence, its deputy head said on Wednesday.</b></p><p>Subir Gokarn, a deputy governor of the Reserve Bank of India, said the bank was not targeting a specific exchange rate with its interventions. The rupee slid to an all-time low of 52.73 against the U.S. dollar on Tuesday but bounced back more than 1% on Wednesday after suspected RBI intervention.</p>

    A shopkeeper holds a garland made of rupee notes inside his shop at Noida in UP

    The RBI will intervene to smooth sharp movements in the rupee and prevent a downward spiral in its value, but will balance this with the need to retain reserves in the event of prolonged turbulence, its deputy head said on Wednesday.

    Subir Gokarn, a deputy governor of the Reserve Bank of India, said the bank was not targeting a specific exchange rate with its interventions. The rupee slid to an all-time low of 52.73 against the U.S. dollar on Tuesday but bounced back more than 1% on Wednesday after suspected RBI intervention.

  • <p>Ratan Tata speaks during the Vibrant Gujarat Global Investors Summit 2011 (VGGIS) at Gandhinagar</p><p><b>Salt-to-software conglomerate Tata Group said on Wednesday a selection panel has selected Cyrus Mistry to succeed Ratan Tata as chairman of Tata Sons, the group&#39;s holding company.</b></p><p>Mistry, who is the managing director of Shapoorji Pallonji group and a director of Tata Sons, has been appointed deputy chairman of the holding company, and will take over as chairman when Ratan Tata retires in December 2012.</p>

    Ratan Tata speaks during the Vibrant Gujarat Global Investors Summit 2011 (VGGIS) at Gandhinagar

    Salt-to-software conglomerate Tata Group said on Wednesday a selection panel has selected Cyrus Mistry to succeed Ratan Tata as chairman of Tata Sons, the group's holding company.

    Mistry, who is the managing director of Shapoorji Pallonji group and a director of Tata Sons, has been appointed deputy chairman of the holding company, and will take over as chairman when Ratan Tata retires in December 2012.

  • <p>A man speaks on a mobile phone in Mumbai</p><p><b>Idea Cellular, India&#39;s fourth-biggest mobile phone carrier by subscribers, on Wednesday launched two low-cost smartphone models as it strives to boost usage of third-generation (3G) wireless data services in a price-sensitive market.</b></p><p>Idea, part of Aditya Birla conglomerate, will sell the smartphones at Rs 5,850 and Rs 7,992, respectively. Idea will also bundle free data services as an introductory offer, it said in a statement.</p></p><b>(Picture by Business Standard)</b></p>

    A man speaks on a mobile phone in Mumbai

    Idea Cellular, India's fourth-biggest mobile phone carrier by subscribers, on Wednesday launched two low-cost smartphone models as it strives to boost usage of third-generation (3G) wireless data services in a price-sensitive market.

    Idea, part of Aditya Birla conglomerate, will sell the smartphones at Rs 5,850 and Rs 7,992, respectively. Idea will also bundle free data services as an introductory offer, it said in a statement.

    (Picture by Business Standard)

  • <p>General view of the Nokia flagship store in Helsinki</p><p><b>Struggling telecoms gear maker Nokia Siemens Networks is to axe 17,000 jobs to help cut annual operating costs by around 1 bn euros ($1.35 bn).</b></p><p>The move comes as the joint venture of Finnish group Nokia and German conglomerate Siemens faces pressure from Swedish company Ericsson and Chinese rivals. It has reached at best small underlying profits from operations.</p><p>The parents have said they want to make the venture more independent, with a listing seen as one of the options within a few years.</p>

    General view of the Nokia flagship store in Helsinki

    Struggling telecoms gear maker Nokia Siemens Networks is to axe 17,000 jobs to help cut annual operating costs by around 1 bn euros ($1.35 bn).

    The move comes as the joint venture of Finnish group Nokia and German conglomerate Siemens faces pressure from Swedish company Ericsson and Chinese rivals. It has reached at best small underlying profits from operations.

    The parents have said they want to make the venture more independent, with a listing seen as one of the options within a few years.

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