Moody’s cuts ratings of six European countries
Britain, Austria and France could lose their AAA ratings, as rating agency Moody’s placed the countries on negative watch, while lowering the ratings of six other Euro Zone nations. Italy, Malta, Portugal, Slovakia, Slovenia all had their ratings cut by one notch, with a negative outlook, while that of Spain was cut by two notches to A3, with a negative outlook.
Britain, Austria and France could lose their AAA ratings, as rating agency Moody’s placed the countries on negative watch, while lowering the ratings of six other Euro Zone nations. Italy, Malta, Portugal, Slovakia, Slovenia all had their ratings cut by one notch, with a negative outlook, while that of Spain was cut by two notches to A3, with a negative outlook.
Dollar sales by RBI touch new high in
December
The Reserve Bank of India sold $7.8 billion in the
spot market in December 2011 to prop up the sliding rupee. Data from the RBI’s
February bulletin show that this is the highest amount it has sold in three
years.
SBI sets sights on absorbing State Bank
of Mysore
After taking over two associated banks- State Bank
of Saurashtra in2008 and State Bank of Indore in 2010, SBI has set its sights
on assimilating the nearly century old State Bank of Mysore this year.
Air India loses sole right to fly
overseas
Air India will effectively cease to be India’s
‘national carrier’, with the Government decision to do away with the
state-owned airline’s right to fly abroad. This means private airlines such as
Jet, Indigo, Kingfisher and SpiceJet will now face no problem in getting
permission to fly abroad.
China’s largest mobile solutions and ad networks
company Madhouse has entered the Indian market with the WPP group as strategic
partner and investor in the company.
