India 01 (May 08 - Aug 11)

Re: India 01 (May 08 - Jul 11)

Postby kennynah » Thu Jul 14, 2011 9:36 am

winston wrote:I dont think it has anything to do with the Indians.

It has all to do with the Singapore government's policy of encouraging foreigners to live in Singapore.

The Indians are in Singapore legally.


i do not disagree...and 60.1% of singaporeans gave the ok to pap to continue with this open leg policy... :evil:
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Re: India 01 (May 08 - Jul 11)

Postby kennynah » Thu Jul 14, 2011 9:47 am

thanks L...

i've a indian friend of more than a decade...he came from india...then his wife...along the way, he brought in several of his indian kakis and got them jobs...

i have nothing against him...a nice enough fella.... but i have never seen him with local indians nor heard him having any local indian friends...not once...

the reality is, as you observed, these new indian migrants do not integrate with our local indians...

it can be said of the PRC chinese too...they cling together... and the only time they "integrate" with locals are in KTVs, massage parlours and other seedy associations..

so, the same for caucasians too... they hang about themselves at harry's, top 10 thai pubs...

i can tell you that social integration cannot to engineered with policies or at the press of a button...only the fool, wong can't sing thinks it can be done..and the bigger singaporean fools to believe in this loose immigration policy..
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Re: India 01 (May 08 - Jul 11)

Postby LenaHuat » Thu Jul 14, 2011 9:58 am

Hi K :D
There is more to this that I am angry about. But 2day, I wanna make some $$ :lol: :lol: So, I shall leave this matter for today.
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Re: India 01 (May 08 - Jul 11)

Postby kennynah » Thu Jul 14, 2011 10:00 am

ok L.... go make more money. HUat arrrggghhhhhhh 8-)
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Re: India 01 (May 08 - Jul 11)

Postby winston » Fri Jul 15, 2011 7:32 am

And China's inflation is at 6.4% only :lol: :lol: :lol:

Inflation is exploding in one of the world's largest economies

India's inflation accelerated to 9.44 percent in June, adding pressure on the central bank to extend its longest stretch of interest-rate increases in a decade. Bonds pared gains.

The benchmark wholesale-price index rose 9.06 percent in May from a year earlier, according to the commerce ministry. The median estimate of 28 economists in a Bloomberg News survey was for a 9.68 percent increase.

Food-price inflation quickened to a three-week high of 8.31 percent in the week ended July 2, the ministry said in a separate statement today.

The Reserve Bank of India may raise rates this month even after Mumbai was hit yesterday by the biggest terrorist attack since November 2008, economists said. India has persisted with monetary tightening, while neighbors from Malaysia to Indonesia refrained from raising rates in July on concern that Europe's debt crisis and slowing U.S. growth will hurt Asian economies.

Source: Bloomberg
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Re: India 01 (May 08 - Jul 11)

Postby kennynah » Fri Jul 15, 2011 7:42 am

duno whether they can make it or not in another 5-10 years...
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Re: India 01 (May 08 - Jul 11)

Postby winston » Sun Jul 24, 2011 5:00 pm

Indians may have much more than $2.5 bn in Swiss banks
Press Trust Of India

It's official now -- Indians hold about $2.5 billion (over Rs 11,000 crore) in Swiss banks, but this figure of Switzerland's central bank may be a gross understatement of the total wealth directly and indirectly held there by entities from India.

Govt political outcry over alleged stashing of black money in Swiss banks also seems to be forcing Indian entities to move their monies to other safe havens like the Middle East, Singapore and Mauritius.

Some half a billion dollars have been moved out in the last three years, according to the central bank's figures.

In the first-ever disclosure of money held in various Swiss banks by Indians, Swiss National Bank (SNB) has said the quantum of such deposits stood at 1.945 billion Swiss francs (about $2.5 billion) at the end of 2010.

Giving a break-up of this amount, Walter Meier, the spokesperson for the SNB President, said this included about $2.1 billion dollars in the form of savings and deposits by Indian individuals, financial institutions and corporates.

The remaining about $400 million is of fiduciaries largely operating for private individuals from India.

http://www.hindustantimes.com/Indians-m ... 24934.aspx
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Re: India 01 (May 08 - Jul 11)

Postby winston » Fri Aug 19, 2011 9:08 am

Contrarian alert: Stocks in India are getting killed... now at 14-month lows

Indian stocks dropped to the lowest in more than 14 months, led by banks and software services companies, after two U.S. Federal Reserve officials said they opposed a pledge to keep interest rates low, and on speculation the central bank will boost rates further to cool inflation.

The nation's food inflation slowed, an easing that may be insufficient to prevent the central bank raising interest rates further.

The Bombay Stock Exchange Sensitive Index, or Sensex, lost 371.01 points, or 2.2 percent, to 16,469.79 in Mumbai, the lowest close since May 26, 2010. The gauge has dropped 22 percent from a Nov. 5 peak, exceeding the 20 percent level marking a so-called bear market for some investors. The S&P CNX Nifty Index dropped 2.2 percent to 4,944.15 and its August futures traded at 4,937.5. The BSE 200 Index decreased 2.3 percent to 2,038.45.

"There's some sense of panic that has been emerging over the last few days driven by the global environment and some of the domestic events, both political and economic," said Navneet Munot, who oversees $10.5 billion as chief investment officer at SBI Funds Management Pvt., a unit of India's biggest lender.

"Locally, there has been concern of about inflation not coming off despite global commodities prices cooling off."

Bankex, a Bombay Stock Exchange index measuring 14 lenders, fell 3.5 percent to 10,971.66, the lowest level since July 2010. The gauge has declined 5.7 percent in the past three trading sessions. India's benchmark wholesale-price inflation in July rose 9.22 percent from a year earlier, the government said Aug. 16, faster than economists' estimates for a 9.2 percent gain.

The Sensex has dropped 2.2 percent in the past three days. The MSCI Emerging Market Banks Index, a measure of 97 developing-markets lenders, rallied 4.6 percent in the five days through Aug. 17.

Growth Forecast

ICICI Bank slumped 5.1 percent to 863.8 rupees, its fifth day of losses. State Bank of India (SBIN), the biggest lender, lost 4.2 percent to 2,078.4 rupees, the lowest close since April 2010. Axis Bank Ltd. (AXSB), the fourth-largest lender by market value, tumbled 5.2 percent to 1,109.25 rupees, the lowest since March 2010.

Indian stocks also fell after Morgan Stanley cut its year-end target for the Sensex by 15 percent to 18,850. The brokerage also reduced its forecast for India's 2012 gross domestic product growth to 7.4 percent from 7.8 percent and its estimate for the fiscal year ending March 31, 2013, to 7.6 percent from 8 percent.

"We believe a combination of factors – including persistently high inflation, higher cost of capital, cut in the ratio of fiscal spending to GDP, a weak global capital markets environment and slow pace of investment – will cause a further slowdown in growth," analysts Chetan Ahya and Upasana Chachra wrote in the report today.

Food Inflation

Reserve Bank Governor Duvvuri Subbarao has to weigh the risks to expansion posed by Europe's debt crisis and a faltering U.S. recovery against tightening monetary policy to slow the fastest price gains among the BRICS nations of Brazil, Russia, India, China and South Africa.

An index measuring wholesale prices of farm products including rice and wheat rose 9.03 percent from a year earlier in the week ended Aug. 6, the commerce ministry said today. It increased 9.9 percent the previous week.

Indian households expect inflation to accelerate in the 12 months through June "mainly because of the movements in food price," the central bank said last week.

India's Prime Minister Manmohan Singh said Aug. 15 that taming inflation would be his government's "top-most" priority and vowed to eradicate corruption that threatens to undermine the nation's development.

Lagging Earnings

The Reserve Bank of India has raised its repurchase rate 11 times since the start of 2010 and last increased it by 50 basis points on July 26 to 8 percent to damp rising living costs.

Earnings for 46 percent of Sensex companies in the three months ended June lagged behind analyst estimates, according to Bloomberg data. That compares with 33 percent that missed forecasts in the previous quarter.

The Sensex has lost 20 percent this year, the worst performer after Brazil's Bovespa Index, on concern higher borrowing costs will slow economic growth and erode company profits. Companies on the Sensex are valued at 13.8 times estimated earnings, compared with a multiple of 10 for the MSCI Emerging Markets Index.

Foreign investors sold $1.3 billion of Indian equities this month as higher borrowing costs weighed on companies' net income and the government curbed its decision-making amid corruption scandals.

Stalled Agenda

Indian anti-corruption campaigner Anna Hazare is on an indefinite fast to demand tougher laws to prosecute corrupt officials. The latest standoff between Hazare and the government – fueled by social media websites, 24-hour TV coverage and widespread public anger over official malpractice – deepens the damage to Singh's administration, which has been embroiled in graft charges since October.

His legislative agenda has stalled amid the allegations, the biggest of which involves the 2008 sale of permits to run mobile-phone services that the country's auditor says may have cost the exchequer $31 billion.

"The market is worried that the government would be too busy in managing the crisis at hand rather than getting into policy initiatives," said Gajendra Nagpal, chief executive officer at New Delhi-based Unicon Financial Intermediaries Pvt.

Overseas funds sold a net 2.1 billion rupees of Indian equities on Aug. 16, paring their investment in stocks this year to 42.6 billion rupees, according to data on the website of the Securities and Exchange Board of India.


Source: Bloomberg
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Re: India 01 (May 08 - Aug 11)

Postby winston » Fri Aug 19, 2011 2:37 pm

And why would an anti-corruption activist, be thrown in jail, in the first place ?

Indian anti-corruption activist Anna Hazare is released from jail as supporters rally outside the New Delhi prison.


Source: CNN International
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