Asian stocks bullish
Asian stocks jumped Wednesday after the Dow closed at a two-and-a-half-year high on the back of data indicating the US economy is gaining strength while easing tensions in Egypt added to sentiment.Tokyo’s Nikkei surged 1.78 percent, or 182.86 points, to end at 10,457.36 and Sydney closed 0.93 percent, or 44.4 points, higher at 4,796.5.Hong Kong ended 1.81 percent, or 426.01 points, higher at 23,908.96.The Hong Kong market was open for just half a day due to the Lunar New Year holidays while Shanghai, Seoul and Taipei were closed.The broader S&P 500 index jumped 1.67 percent and the tech-heavy Nasdaq rose 1.89 percent. Fears about unrest in Egypt eased late Tuesday after President Hosni Mubarak said he would step down after elections.
Asian stocks up
Asian News: Asian stock markets rose Tuesday as tensions on the Korean peninsula eased a few notches.
Investors spent the previous day worried about possible North Korean retaliation against South Korean military drills on a frontline island that was shelled by the North last month. Instead, Pyongyang backed off threats to strike back and reportedly offered concessions on its nuclear program.Japan’s Nikkei 225 stock average climbed 1.5 percent to 10,370.53 after the Bank of Japan kept monetary policy unchanged at the current super loose setting after a key survey last week showed deteriorating business sentiment.Japanese exporters climbed, with Sony Corp. up 2.7 percent and Canon Inc. adding 1.6 percent.Hong Kong’s Hang Seng index added 1.4 percent to 22,966.08. South Korea’s Kospi advanced 0.8 percent to 2,037.09 and Australia’s S&P/ASX 200 was up 0.8 percent at 4,771.90.China’s Shanghai Composite Index jumped 1.8 percent to 2,904.30. Markets in Taiwan, India, and Singapore also rose.In New York Monday, low trading volumes and a lack of economic reports kept stocks confined to a narrow range Monday. Indexes finished mixed and bond yields were barely changed.The Dow Jones industrial average fell 13.78, or 0.1 percent, to 11,478.13. The broader Standard and Poor’s 500-stock index rose 3.17, or 0.3 percent, to 1,247.08. The Nasdaq composite index gained 6.59, or 0.3 percent, to finish at 2,649.56.
Preity joins hands with Leonardo DiCaprio & Naomi Campbell to protect Tigers
Preity Zinta is making news everywhere. She is either at the NASDAQ or becoming brand ambassador to a city and now she is all out fighting for the survival
of the wild cats. Why not? After all isn’t Tiger the national animal of India? Therefore, in this endeavour she has joined hands with Hollywood superstar
Leonardo DiCaprio, and supermodel Naomi Campbell.
The globe trotting Preity was invited along with Leo and Naomi at the Global Tigers Initiative organised by the International Tiger Conservation Forum in St
Petersburg, Russia. Hosted by Prime Minister Vladmir Putin the forum was attended by officials from countries that are home to tigers.
The three beautiful people drafted plans to give the campaign a push globally. Naomi and Preity had met before on Vikram Chatwal’s fashion show and hit it
off instantly. The two discussed the alarming rate at which tiger poaching is making the numbers dwindle and have taken it upon themselves to tour the
country and see the natural reserves and habitats themselves. Preity on her own would also tour different countries creating awareness about the issue. In
fact on Twitter as well she posted the message “India has over a billion people and only 1409 tigers! Think about it?”
Preity was invited to the summit to speak about crime and injustice against tigers and was asked to endorse a St. Petersburg Declaration on Tiger
Conservation and a Global Tiger Recovery Program. Preity posted a picture of her own at the forum with a message, “Just landed in St Petersburg ! Whew! Long
flight! Its wonderful 2 see da city I read so much bout when I was in school:-) Ting ! Loving it !” The dimpled lady does make us proud time and again.
‘My Name is Khan’ Rs. 110 cr. India, Rs. 99 cr. Overseas
MY NAME IS KHAN, which was released in India on 12th February, 2010, is still making waves across the globe. Having raked in Rs. 110 crores in India, the film continues its march across global territories and has already grossed Rs. 99 crores in the International markets [still counting], according to an official statement issued by Fox Star Studios.
Post successful release in U.S., U.K., Middle East and Australia, MNIK continues to break records across Europe. MNIK has already become the most successful film in Europe with a box-office collection of US$ 5.6 million with 325 prints. The release width of 425 prints across just Europe is bigger than the release plan of any Bollywood film on a worldwide basis.
The film has the unique distinction of being the first Bollywood film to be dubbed and released theatrically in 4 European languages: Spanish, German, Russian and Italian. Currently, the film is playing across cinema halls in Germany and will release in Russia in September and Italy in November with more than 100 prints.
A number of factors have contributed to the astounding success of MNIK in the International markets, including:-
A separate edit for the mainstream markets by well-known editor Allan Bell, which is a first for an Indian film.
Country specific promotion plans with marketing investment across key countries.
Presence on mainstream promotion platforms including Jonathan Ross Show, BBC Asia network and BILD, Germany’s largest newspaper and innovative promotions like first time ever Bollywood presence at the opening of the NASDAQ bell.
Red Carpet premiere at the Berlin Film Festival.
With MNIK, Fox Star Studios has opened up newer markets and delivered box-office numbers by creating new opportunities for Bollywood in markets hitherto unexplored. Some key milestones being:
No. 1 Bollywood film across Middle East, Pakistan, Sri Lanka, Indonesia, Singapore, Malaysia, Egypt, Lebanon, Jordan, Syria, South Africa and other African markets.
Opened new markets across the world – a first for Bollywood: Puerto Rico, Syria, Lebanon, Jordan, Egypt, Taiwan, Italy, Spain, Russia.
Apple overtakes Microsoft as No 1 tech company
Apple Inc overtook Microsoft Corp to become the world’s most valuable technology company on investors’ optimism it can keep adding customers for its iPhone, Macintosh computer and iPad, according to media reports Thursday.
As of Wednesday, Apple’s shares rose 2.8 percent on Nasdaq, pushing its value to $222.12 billion while Microsoft was valued at $219.18 billion. The only American company valued higher is Exxon Mobil, with a market capitalization of $278.64 billion.
Microsoft, with its Windows and Office software franchises, has dominated the computer technology market for almost two decades. The last time Apple had a higher market value than Microsoft was Dec 19, 1989, according to Thomson Reuters Datastream.
It is the single most important turnaround that I have seen in Silicon Valley, said Jim Breyer, a venture capitalist who has invested in some of the most successful technology companies.
Microsoft still leads Apple in sales. In the latest quarter, Microsoft reported $14.5 billion in revenue compared with Apple’s $13.5 billion.
Apple overtakes Microsoft as biggest tech company
SEATTLE: Apple Inc shot past Microsoft Corp as the world”s biggest tech company based on market value on Wednesday, the latest milestone in the resurgence of the maker of the iPhone, which nearly went out of business in the 1990s.
Apple”s shares rose as much 2.8 percent on Nasdaq on Wednesday, as Microsoft shares floundered, briefly pushing its market value above $229 billion, ahead of its longtime rival.
Both stocks ended down after a late-day sell-off, but Apple emerged ahead with a market value of about $222 billion, compared with Microsoft”s $219 billion, according to data.
Apple shares closed down 0.4 percent at $244.11 on Nasdaq, while Microsoft fell 4 percent to a seven-month low of $25.01.
Shares of Apple are worth more than 10 times what they were 10 years ago, as it has profited from revolutionizing consumer electronics with its stylish, easy to use products such as the iPod, iPhone and MacBook laptops.
The last time Apple had a higher market value than Microsoft was December 19, 1989, according to a UK-based news agency.
Microsoft, whose operating system runs on more than 90 percent of the world”s personal computers, has not been able to match growth rates from its hey-day 1990s. Its stock is down 20 percent from 10 years ago.
Apple, which struggled for many years to get its products into the mainstream, resorted to a $150 million investment from the much larger Microsoft in 1997 in order to keep it afloat. At that time, Microsoft”s market value was more than five times that of Apple.
Microsoft still leads Apple in sales. In the latest quarter, Microsoft reported $14.5 billion in revenue compared with Apple”s $13.5 billion.
Cupertino, California-based Apple is now the second-largest company on the Standard Poor”s 500 index by market value, behind energy behemoth Exxon Mobil Corp.
Asian stock markets rise after Wall Street advance
TOKYO: Asian stocks markets were mostly higher Monday but gains were tepid as investors stayed cautious about Europe”s debt problems even after a big jump on Wall Street.
Japan”s Nikkei 225 stock average dropped 27.82 points, or 0.3 percent, to 9,756.72 while South Korea”s Kospi added 0.2 percent to 1,603.54. Hong Kong”s Hang Seng gained 0.6 percent to 19,670.83.
Meanwhile, benchmarks in mainland China, Singapore, Taiwan and Australia rose, with the SP/ASX 200 in Sydney adding 1.4 percent to 4,365.4 on a strong showing by miners.
In New York on Friday, the Dow Jones industrial average rose 1.3 percent to 10,193.39, making back some of the steep losses recorded recently amid renewed worries about Europe”s debt problems.
But that did little to inspire confidence in the euro and its reliability as a currency. Asian exporters, particularly those who do significant business in Europe, lost some ground. Japan”s Olympus Corp. fell 1.1 percent, while South Korea”s Samsung Electronics Co. slipped 0.1 percent.
The broader Standard Poor”s 500 index rose 1.5 percent to 1,087.69, and the Nasdaq composite index added 1.1 percent to 2,229.04.
In currencies Monday, the dollar fell to 90.14 yen from 90.19 yen late Friday. The euro fell to $1.2508 from $1.2545.
Benchmark crude for July delivery was up 35 cents at $70.39 a barrel in electronic trading on the New York Mercantile Exchange.
reliance
May 7, 2010 by Trend PK
Filed under World News
New Delhi, May 7 (IANS) The Supreme Court Friday ordered re-negotiation of the agreement on the supply and pricing of natural gas from the Krishna-Godavari basin between the two Reliance groups within six weeks, based on the government’s policy on the subject.
A three member bench of Chief Justice K.G. Balakrishnan, Justice B. Sudershan Reddy and Justice P. Sathasivam also asked Mukesh Ambani-led Reliance Industries and Anil Ambani-led Reliance Natural Resources to place the new agreement before the company bench of the Bombay High Court.
The chief justice, who read out the operative parts of the much-awaited judgment, said the agreement between the two brothers should serve as the “guiding tool” in reaching the new gas supply and pricing pact within the guidelines of the the government.
The agreement between the two brothers concerned the price, quantity and tenure of gas supplies by Reliance Industries. It called for 28 million units of gas a day to be sold to Reliance Natural Resources at $2.34 per unit for 17 years.
“We respect the judgment of the honourable Supreme Court and note that the Supreme Court has safeguarded the interests of over 25 lakh Reliance Natural Resources shareholders,” said Reliance Natural Resources chairman Anil Ambani.
Addressing a teleconference with reporters, he said the apex court had made it clear the arrangement between the two companies should be suitable to both parties, adding he now looked forward to an expeditious and successful re-negotiation within six weeks.
“While giving the guidelines for an expeditious finalisation of the gas supply agrement between Reliance Industries and Reliance Natural Resources, by majority judgment the honourable Supreme Court has upheld Reliance Natural Resources’ case,” he said.
“The honourable Supreme Court has upheld the memorandum of understanding signed on June 18, 2005, served as the backdrop for the scheme and is the guiding force and the basis of the scheme of arrangements for business reorganisation of Reliance Industries.”
nasdaq
May 7, 2010 by Trend PK
Filed under World News
Nasdaq names stocks with cancelled trades Stock exchange operator Nasdaq OMX Group Inc issued the names of hundreds of stocks for which it is canceling trades following Thursday’s sudden stock market plunge. Soon after 2:30 p.m. ET, the Dow Jones Industrial Average fell nearly 1,000 points in its largest ever intraday points drop, which may have involved a trading error.
U.S. stock indices plunged by an average 9 percent in the last two hours of trading before clawing back some of the losses.
Nasdaq OMX said it would cancel trades with price deviations of more than 60 percent between 2:40 p.m. and 3 p.m. from their 2:40 p.m. levels, and the New York Stock Exchange said it would similarly cancel trades on its all-electronic NYSE Arca platform that deviated over 60 percent from their last print at 2:40 p.m. between 2:40 and 3 p.m.
Nasdaq said its decision was made in conjunction with other exchanges and said it could not be appealed.
For a list of the affected stocks, please see: (here)
Amongst the large companies that appear on the list are -
COMPANY NAME RIC
ACCENTURE INC ACN.N
EXELON CORP EXC.N
CENTURYTEL INC CTL.N
ONEOK PARTNERS OKS.N
CENTERPOINT CNP.N
BOARDWALK PIPELINE BWS.N
WINDSTREAM CORP WIN.O
INTERPUBLIC GROUP IPG.N
HANSEN NATURAL HANS.O
LINN ENERGY LINE.O
GENPACT LTD G.N
nasdaq
May 7, 2010 by Trend PK
Filed under World News
Nasdaq names stocks with cancelled trades Stock exchange operator Nasdaq OMX Group Inc issued the names of hundreds of stocks for which it is canceling trades following Thursday’s sudden stock market plunge. Soon after 2:30 p.m. ET, the Dow Jones Industrial Average fell nearly 1,000 points in its largest ever intraday points drop, which may have involved a trading error.
U.S. stock indices plunged by an average 9 percent in the last two hours of trading before clawing back some of the losses.
Nasdaq OMX said it would cancel trades with price deviations of more than 60 percent between 2:40 p.m. and 3 p.m. from their 2:40 p.m. levels, and the New York Stock Exchange said it would similarly cancel trades on its all-electronic NYSE Arca platform that deviated over 60 percent from their last print at 2:40 p.m. between 2:40 and 3 p.m.
Nasdaq said its decision was made in conjunction with other exchanges and said it could not be appealed.
For a list of the affected stocks, please see: (here)
Amongst the large companies that appear on the list are -
COMPANY NAME RIC
ACCENTURE INC ACN.N
EXELON CORP EXC.N
CENTURYTEL INC CTL.N
ONEOK PARTNERS OKS.N
CENTERPOINT CNP.N
BOARDWALK PIPELINE BWS.N
WINDSTREAM CORP WIN.O
INTERPUBLIC GROUP IPG.N
HANSEN NATURAL HANS.O
LINN ENERGY LINE.O
GENPACT LTD G.N
