Asian Currencies Decline on Record Oil, Fed Outlook Asian currencies fell this week, led by South Korea's won, on speculation record oil prices will damp the region's economic growth and the Federal Reserve may have finished cutting interest rates. All 10 of Asia's most-active currencies outside Japan weakened against the dollar in the past five days as investors shunned emerging-market assets and crude oil climbed to an all- time high. The MSCI Asia Pacific Index of regional shares fell the most in almost two months while HSBC Holdings Plc's Asian Bond Index declined 1.5 percent, extending losses to a fourth week. The won had the biggest weekly loss in two months and India's rupee fell to the lowest since August.

Blackstone, Reliance buy into Everonn Three private equity investors — Blackstone, New Vernon and Reliance (part of ADAG) have picked up equity shares and warrants in the Chennai-based Everonn Systems Ltd, a company specializing in e-learning and virtual classrooms. P Kishore, managing director, Everonn told TOI that the company has raised Rs 167.89 crore from the PE investors besides a equity warrant issue to the promoters. Deutsche Securities (represented by Reliance), The India Fund Inc of Blackstone and New Vernon will invest Rs 91.39 crore immediately. The promoters would pump in Rs 50 crore towards the warrant issue. In all the dilution would be around 9% of the company's equity. “We need funds to invest in three areas. (a) ICT Business — introduce computer education in government schools, (b) setting up virtual classrooms which will increase to 700 colleges across the country from the present 250 and (c) set-up i-Schools which will have content from virtual classrooms plus content on intranet,' he said.

Indian industry looks to investing in bio-fuel in South America South America's expertise in bio-fuel could come to the aid of India in meeting its growing energy requirements, with the Indian industry working out investment avenues in the area in the continent. Indian companies, whose delegates accompanied President Pratibha Patil to South America last month, are looking at setting up and acquiring integrated bio-fuel plants in Brazil and Mexico. Industry members had serious discussions with their counterparts and would return to tie-up joint ventures and investments in bio-fuels. Ruchi Soya is one of the companies that has decided to go back to Mexico. "Being part of the business delegation of the President was overwhelming. Ruchi Soya Industries is looking at investing in integrated bio-fuel plants and also in functional food plants in the field of health and wellness," its Managing Director Dinesh Shahra said. In oil-rich Brazil, the Indian companies also looked at opportunities in the oil and gas sector. While ONGC Videsh has set up offices in Rio and bought stakes in an oil field, many other oil majors, including ESSAR, which was represented on the trip, is looking at opportunities in the South American country.

I Develop winning Call on 5th May Market in Heavely Panic due to some news factor ie inflation, us market slowdown and asian market also plunged. NOW See today other Research house recommended short call on nifty or exit / sideaway from market Our clients made good enough profit out of this call. We say on that day ( 5th May 2008 ) Sensex touch below 17000 and nifty below 5000 now its already done with a 5 days GREAT TEAM WORK – By I Develop

21 Indian firms among world's top 100 BPOs Twenty-one Indian companies, including Infosys Technologies, Tata Consultancy Services (TCS) and Wipro, are among the top 100 BPO firms in the world, according to a new study. Five of the Indian firms figuring among the 10 best outsourcing service providers are: Infosys (No.3), TCS (6), Wipro (7), Genpact (9) and Tech Mahindra (10), according to the study - '2008 Global Outsourcing 100' - compiled by the International Association of Outsourcing Professionals (IAOP). Accenture and IBM head the list published as an advertising feature by IAOP in the current Fortune 500 issue of Fortune magazine. The other 16 Indian companies in the list are HCL Technology (11), Mastek (16), WNS Global Services (19), Hexaware (22), ExlService (26), 24/7 Customer (28), Cambridge (36), ITC Infotech (40), KPIT Cummins (42), Patni (46), Zensar (53), MindTree (54), Mphasis (56), Aditya Birla Minacs (62), FirstSource Solutions (73) and Cross-Tab (78). The key strength of Wipro and TCS is their 'employee management' while the strong point of Infosys and Genpact is their "executive leadership", according to the New York-based IAOP.

Inflation data a 'big relief': Chidambaram Finance Minister Palaniappan Chidambaram said on Friday a marginal increase in the annual wholesale price inflation rate in late April had come as a major relief, and was not statistically significant. Government data showed on Friday the wholesale price index for the 12 months to April 26 rose to its highest level since Nov. 13, 2004. But the figure had only edged up from the previous week's rise of 7.57 percent. "Inflation going from 7.57 to 7.61 percent is not statistically significant. It has come as a big relief," he told reporters. Chidambaram added the government would take more administrative steps if necessary to tame prices. Inflation likely to come down: Commerce sec Commerce Secretary Gopal K Pillai told a leading news channel that inflation is likely to come down to levels close to 5 per cent by the June.Procurement is likely to exceed targets. We are also making arrangements to bring in more cement from Pakistan. Instead of one goods train a day, five trains will come from Pakistan," Pillai said.

Past is past... Market was expecting inflation of as high as 8% which did not happen. Inflation was at 7.61%. Majority of the bears are short in the market as market has corrected from 5280 levels. Global markets and oil also allowed them to continue with their view. This was inevitable on the back of split on the view of experts. Market which is hugely short may just spring back with vengeance on one good news such as oil breaking down. Now any moment oil may break down to head towards 90 to 95 USD. Commodity players must go short in OIL now. The reason is very simple so far as analysts were not sure where oil was heading. As usual when it had come to 80 levels they had given target of 40 USD and now when they have raised the target to 200 oil is set to collapse. This is simply because traders follow their opinions and cut short positions and go long. Suddenly it becomes overbought from oversold. Same had happened in Gold where I had advised going short at 1030 with target of 810. Now I believe that it may collapse even to 710 in coming months. Gwalior Chemicals were we had initiated buy call at 56 nobody believed the call and today it is Rs 89 with very huge volumes. A leading US co will either acquire the co or majority stake and open offer will come. Rest you can do with your intelligence. Our IT wing is unmatched. Now ITI is going into overdrive as very soon its ideal land development news will come out. It is common sense when FII and operators have bought this share till 75 in huge qty why will they sell at 40. If you can play with proper value analysis you can make 100% profit. Buy at 40 sell 50% at 60 which is still 25% lower than their cost and hence exit assured and balance forget. Come what it may you can’t forget that ITI has huge value at Rs 40 and at this price it could be even begger’s choice. Similarly nobody on the earth can stop RDB, Vishnu, Accurate, ITI, Jeyswal and HMT from becoming multibaggers. Smart investors should trade in these stocks on delivery basis where 5 to 10% return every week is not ruled out. In futures you can only cry. Operators are having a very bad habbit of suppressing the prices for that they sell shares. But you try to squeeze them with buying out their qty they would not really love that and would come out from cages to start buying. This has happened in Glawior and RDB. No man on the earth is rich enough to buy his past whether it is SIR Henry Ford or Late Great Napoleon.