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Inflation still No.1 worry for central bank
Apple and Samsung: A defining rivalry
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Inflation still No.1 worry for central bank
Mumbai, December 8 His comments come amid growth in the second quarter falling to 5.3% in July-September period, triggering demands for a rate cut by the RBI to boost the economy. The RBI should not do anything that provide some short-term stimulus to growth but also raises the risk of longer term inflation, he said at a Bombay Management Association event. "One action is not necessarily going to make the difference. But there are risks associated as well," Gokarn said, adding inflation continues to be the primary concern of the monetary policy. According to many analysts, the central bank will hold the rates on December 18 as inflation continues to be high, at 7.45% in October. At the last policy announcement, RBI had left the short-term lending rates unchanged at 8%. Gokarn said the RBI should not fall prey to trying out something opposite if one set of actions, in this case the anti-inflationary stance, is not working. "The belief that just because something doesn’t seem to be working, the exact opposite is the solution (is incorrect)," he said. On Thursday RBI Governor D. Subbarao had hinted that key rate cuts are on the anvil as growth has moderated steeply. "We are expecting inflation will trend down starting Q4. As we go into our midquarter policy on Dec 18 and the quarterly policy on Jan 29, we’ll take into account the growth-inflation trajectory and calibrate our monetary policy accordingly," he had said. However, Subbarao also said at 7.5% inflation was still high, though it had come down from its peak. To tame inflation, the RBI since March 2010 has announced 13 consecutive rate hikes. But inflation is still above the RBI's 5% comfort levels. Earlier, speaking in Kolkata on Friday, Gokarn had said the RBI would take steps to address the liquidity deficit in the banking system, if required. Gokarn said a commitment to walking on a fiscal consolidation roadmap and introducing tax reforms like GST will help the country avoid a downgrade by global rating agencies. "A roadmap for fiscal consolidation, a significant tax reform (GST) are what we need in terms of giving some comfort on where the fiscal situation is headed, as it creates some resources available for government investments. And certainly, if this roadmap is adhered to, then I think the rating downgrade risk is sort of automatically dealt with."Noting the positive impact on state finances when value added tax was introduced, he said GST will have a similar impact. — PTI
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Apple and Samsung: A defining rivalry
Jakarta/Seoul, December 8 That was then. Since winning a landmark US patent infringement case in August, its stock has dived 18%, wiping $108 billion from its value. But the shares of defeated party Samsung have surged, rising 16%. The dramatic reversal has sparked raging market speculation. Some pundits say concerns are growing about the seemingly inexorable advance of Google Inc's Android, the rival software championed by Samsung. Others say fears about higher capital gains taxes have prompted investors made rich by Apple's stock-price growth to sell. But it is the Apple-Samsung rivalry that defines a global mobile device industry with a growing list of struggling players. Together, the two mobile juggernauts account for more than 1 in 2 smartphones sold globally. Analysts say Samsung is beginning to shed its aura as a "fast follower" and becoming a serious innovator, while Apple has failed to deliver on a truly seminal product in years — the oft-rumored Apple TV remains a well-honed rumour. "Apple's actions have started to appear as if innovation is slowing and they're defending turf with a zero-sum market view rather than continuing to innovate as a world-beating leader," said Tony Nash, managing director at IHS, a business information provider. The clash of the gadget titans underscores a broader battle between Apple and Google's increasingly popular Android mobile software, now installed on about two out of every three smartphones sold. But some Asian analysts also point to Samsung's very different business model as helping it get a leg up on Apple. The iPad maker's outsourcing structure provides fatter margins, but cedes some control to an army of suppliers, while Samsung's competitiveness is driven by keeping most of its manufacturing in-house. And while Apple focuses on a few high-end mobile devices, Samsung's product breadth helps it scoop up new, less affluent users who can then be driven towards higher-margin devices, such as the phone-tablet combo Galaxy Note. "In Asia, Samsung is still in the stronger growth position when it comes to smartphones — bringing large-screen models to the masses, reintroducing the pen with its Galaxy Note series and also, at the lower-end, with its entry-level Galaxy Y devices driving emerging markets," said Melissa Chau, Singapore-based research manager at IDC. — Reuters Why is Wall St losing its appetite for Apple?
This holiday season is shaping up to be a record-breaking period for Apple as shoppers snap up iPhones and iPads. So, why is the world's most valuable company losing its luster with investors? Apple began selling the iPhone 5 on Sept 21, the same day the firm's stock hit an all-time peak of $705.07 per share. Since then, the stock has plunged over 20%, trimming the company's market value by more than $150 bn. On Friday afternoon, shares were trading at around $534. The selloff has had broad impact. It has reached beyond Apple's own stockholders because the firm is the largest component in the S&P 500 and Nasdaq composite index — AP |
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New interest rates apply to all savings plans in FY13
A.n. shanbhag Does it matter whether capital gains tax saving infrastructure bonds are purchased from NHAI/REC directly or through agents who might offer a discount? What is the cost inflation index for FY2013? Interest rates for small saving schemes like PPF, SCSS, etc, were raised w.e.f. April 1, 2012. Will the new rates apply only to the new accounts opened this year or will old accounts opened before April 1 also get the tax benefit ? — Lalit Bharadwaj
I am an Overseas Citizen of India (OCI) living in the US. My father, who is 80 years old, owns a house in Calcutta. My grandfather built the house in 1930s, and in the 1960s my father built the second floor. Upon my father's death, will the son & daughter of my father's sister have 50% right to this property, like myself and my sister? — Shantanu Your father will do well to prepare a will. If he chooses not to prepare one before he dies, you will have to get a court probate that will divide the estate as per the relevant succession laws. Getting a probate is a little difficult and involves a lot of hassles. Keep in mind there are a lot of ifs and buts for inheriting ancestral property. It is always best to have a will so that there is no conflict among surviving relatives. The fact that you are an OCI does not affect the inheritance process.
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What a difference three months can make. At the end of August, Apple Inc seemed on top of the world. Fresh off a resounding $1.05 billion US legal victory over arch-foe Samsung Electronics Co Ltd, the company was gearing up to launch the fifth iteration of its iconic
iPhone.
You can purchase these bonds directly or through agents. If you decide on the latter, please understand that it is illegal for you to accept a commission for the agent and also for the agent to offer you one. The cost inflation index for FY13 is 852. The higher interest rates are applicable to the old as well as new Public Provident Fund accounts. However, in case of the Senior Citizen Saving Scheme and Post Office MIS, the new rates will apply only to new accounts.
