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Thursday, 24 July 2014



The World Bank on Wednesday offered India up to $18 billion in financial support over the next three years while lavishly praising new right-wing Prime Minister Narendra Modi's "ambitious vision" for the country.

Does the World Still Need the World Bank? Bloomberg
China's economy to grow 7.6 pct this year -World Bank Reuters
How the BRICS bank could hurt India's Modi CNBC
World Bank welcomes China-led infrastructure bank Reuters
Concerns mount over India's stance on global trade pact Reuters
Modi's Hindu nationalist Bharatiya Janata Party was elected in May with the biggest electoral majority in three decades on pledges to revive India's sluggish economy, ousting the scandal-tainted, left-leaning Congress party.

Speaking at the end of a three-day visit to India, World Bank president Jim Yong Kim told reporters he was hugely impressed with Modi's "comprehensive and extremely ambitious vision for the country".

"I am more optimistic leaving (about India's prospects) than when I arrived," Kim said following talks with Modi and Finance Minister Arun Jaitley to discuss the new government's development priorities.

Modi, 63, "has an extreme sense of urgency", Kim said, as he outlined an offer to India of "financial support worth $15 billion to $18 billion over the next three years" to help lift hundreds of millions of Indians out of poverty.

Daabaa Surprise 03



The rise of China and Chinese higher education is historically inevitable," added the poster, who uses the name "Boycott Japanese goods forever".

Another user added: "Taking Chinese people's money and giving it to people who are able to study in America -- what a great definition of 'poverty'!"

Others defended the decision by the couple, who have also established a foundation to support education in rural areas of China.

"A lot of people are saying Pan Shiyi and his wife spent $15 million to buy their son a ticket to Harvard. However, we shouldn't find fault with how they decide to spend their own money," wrote one.

Zhang responded to the criticism on her own Weibo account, writing that without funding for poor students, good education would be reserved for the wealthy.

"Our scholarships will change this phenomenon," she wrote.

Pan has previously driven public opinion online on a variety of issues, and incurred the government's wrath by posting details of Beijing's dirty air levels, which at the time were not officially released.

At a meeting in mid-August, one of China's top officials responsible for Internet censorship told Pan and other well-known bloggers to be "more positive and constructive" in their online comments, according to the state-run Xinhua news agency.

Daabaa Surprise 02



On Wednesday night, Gilead Sciences reported earnings and revenue that crushed expectations as sales of its "wonder drug" Sovaldi continued to boom.

Gilead reported adjusted earnings per share of $2.36, beating expectations for $1.79, on revenue of $6.53 billion, which topped expectations for $5.91 billion.

Sales of the company's hepatitis C drug Sovaldi, which CNBC's Jim Cramer once called  a "wonder drug," totaled $3.48 billion, beating expectations for $2.98 billion.

For some perspective on just how bonkers Gilead's sales have gone since Sovaldi was approved in December 2013, last year the company's Q2 net product sales totaled $2.3 billion, or about $1.2 billion less than Sovaldi's sales alone this quarter.

In the company's earnings release, Gilead CEO John Martin said: "Since December's launch, Sovaldi has been prescribed for more than 80,000 patients in the U.S. and Europe, underscoring the medical community's recognition of the benefits of this product."

Gilead also boosted its full year product sales view substantially, saying it now sees full-year product sales of $21 billion to $23 billion, compared with its prior outlook of $11.3 billion to $11.5 billion.

The company reiterated its earnings per share outlook of $0.63 to $0.66.

During the second quarter, Gilead generated $4.19 billion in operating cash flow, and the company used $1.2 billion to repurchase 15.2 million shares during the quarter

Daabaa Surprise 01



A Chinese billionaire couple have faced a deluge of criticism for donating $15 million to one of the richest and most prestigious universities in the US, with Internet users saying it would be better spent on students in China.

Pan Shiyi and Zhang Xin, the husband-and-wife duo behind real estate giant SOHO China, are giving $100 million to fund disadvantaged Chinese students at top universities across the globe.

The first stage of the programme was last week's gift to Harvard, widely regarded as one of the world's best universities.

Pan is not only one of China's wealthiest people but also one of the country's most-celebrated "Big V" bloggers, with nearly 17 million followers on Sina Weibo, at times drawing attention from the authorities.

China is the largest single source country for international students in the United States, providing more than a quarter of all foreign students, according to the Institute of International Education.

Many of those young people's studies are funded by their families, but Zhang told the Wall Street Journal that the firm's "SOHO China Scholarships" will be aimed at encouraging less-well-off Chinese students to apply to study abroad.

Nonetheless some users of Sina Weibo, a Chinese Twitter equivalent, sharply criticised Pan and Zhang, questioning the couple's motives and arguing that disadvantaged students within China are more deserving of help.

Telugu midnight boothu kathalu 02



That New York City is home to the most millionaires in the U.S. probably doesn’t come as a shock. More surprising is the fact that the place with the highest concentration of millionaires as a percentage of households is not the Big Apple but rather a tiny town in New Mexico.

Only about 5% of the country, or 6.1 million households, qualify as true millionaires. That is, they boast liquid, investable assets of $1 million or more, excluding real estate, employer-sponsored retirement plans and business partnerships. Research firm Phoenix Marketing International identifies where these millionaires live in an annual survey of wealthy residents in 942 urban areas. We’ve also researched the typical incomes and home values in the top ten cities, in case you’re interested in living next door to one of these millionaires.

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Insurance is not one of the discretionary items your stealthy wealthy friend has cut back on. It doesn't do you much good to diligently work at getting rich slowly only to lose it all to illness, disability or someone tripping over the rosebushes at the end of your front walk.

Disability insurance above and beyond what might be available from your employer will ensure that your earnings don't take a hit if you become too ill or injured to work. And as your tangible and liquid assets grow thanks to your smart investing and everyday savings, a personal liability umbrella policy that extends the coverage of your auto and homeowner's insurance will protect you from the legal fees (and potential judgments) of a civil lawsuit.

My old sweet Memories



The first investment of the invisible rich? Themselves. Education is still a prime driver of lifetime income, and it's never too late to learn.

Your own earning power -- rooted in your education and job skills -- is the most valuable asset you'll ever own, and it can't be wiped out in a market crash. But it can erode. Keep pushing up your earning power through continuous education, training and personal development. This could mean going back to school, adding a needed certification on the weekends or serving in work-related fields that will build your network -- and increase your salary.

There's a ton of difference in salaries out there, even among jobs that require similar amounts of training and education. The wealth builders look at lifetime earning potential. What jobs are they choosing? Some top payers we've identified are personal financial adviser, app developer and management consultant. Learn more from our 10 of the Best Jobs for the Future slide show (and learn what fields to avoid, or consider leaving, in 10 of the Worst Jobs for the Future.) Some wealth builders might work in one of these high-risk fields that pay big bucks.

Na Anubhavam with my batting



We all know somebody like Mitch, your mass-commuting, brown-bagging coworker who has toiled in accounting for as long as you can remember. Did you know he owns a vacation house at the beach?

Or the McGillicuddy family, who live down the street in a house just like yours. Would you believe they didn't have to borrow a dime to send their kids to college?

Or Steve, your fellow baritone in the church choir. He just donated how much to help fund the city symphony?!

Call them the invisible rich. How do they do it? Sure, money like that sometimes comes from an inheritance or another fortuitous break, but more likely it's the result of diligence, smart choices and, well, deferred gratification.

Oka Teacher Kadha (Teacher tho dengulata)



Gold broke below the key psychological level of $1,300 an ounce on Thursday as safe-haven demand for the metal eased due to rising Asian equities and strong Chinese manufacturing data.

Physical demand in the region, however, increased slightly on the lower prices, with premiums in the biggest bullion consumer China edging up on buying interest.

Spot gold fell 0.6 percent to $1,296.50 an ounce by 0319 GMT, after dipping 0.2 percent in the previous session. U.S. gold slid about $7 to $1,297.80.

Asian stock markets edged broadly higher on Thursday as China's factory activity expanded at its fastest pace in 18 months in July, bolstering hopes for recovery in the world's second-biggest economy

Anitha Aunty (aunty boothu kathalu)



Equity Mutual Funds closed with mixed returns as the Equity benchmarks managed to end at record closing highs amid volatility on Wednesday, largely supported by technology stocks and banking majors. Funds in the broader market based,  Large cap, Diversified Equity, ELSS and Index funds ended with mixed returns, while Small & Mid Cap and Thematic Infrastructure fund lost the most. Among sectoral funds, Banking & Finance,

 FMCG and Technology funds advanced, whereas Pharma fund ended decline. The 50-share NSE Nifty crossed the 7800-mark for the second time intraday to hit an all-time high of 7809.20. The index rose 27.90 points to 7795.75, continuing upside for the sixth straight session while the 30-share BSE Sensex advanced 121.53 points to 26147.33. However, the broader markets underperformed benchmarks again with the BSE Midcap index closing flat and Smallcap falling 0.6 percent. Stable earnings and hefty demand for technology shares supported the market today, say experts. They remain bullish on market, saying it is a good time to buy now but they don’t rule out near term correction as rally can’t be one way.

Lady Politician tho dengulata




FMCG major Hindustan Unilever gained 1.5 percent. Its parent company Unilever said underlying sales rose 3.8 percent as against expectations of 4.3 percent. Wipro, third largest software services exporter in India, up 1.3 percent ahead of June quarter earnings that will be announced in evening today. Analysts expect 1.44 percent growth in its dollar revenue. Shares of Infosys, Reliance Industries, ITC, HDFC Bank, L&T, State Bank of India, TCS and Tata Motors were other gainers, up 0.3-1 percent.

Shares of Infosys, Reliance Industries, ITC, HDFC Bank, L&T, State Bank of India, TCS and Tata Motors were other gainers, up 0.3-1 percent. However, Gail was the biggest loser in the Sensex, falling 2 percent followed by Dr Reddy’s Labs, Hero Motocorp, Axis Bank, Cipla and NTPC with marginal losses. Private oil & gas producer Cairn India was down nearly 7 percent after a 65 percent fall in bottomline during April-June quarter. Another concern was that the company has extended a loan of USD 1.25 billion (nearly Rs 7,500 crore) to its parent Vedanta for a two-year period as a part of the former's treasury operations.

Akka tho pandaga



After eight-session of rally (1265 points on the Sensex), experts expect some amount of profit booking in near term but they believe the long term bull run is intact. According to independent market expert Ambareesh Baliga, the valuations are quite expensive right now and it is best to book some profits. He feels the deep crack will pull the market down by nearly 300-400 points but not below 7400.

 Metals stocks like Tata Steel and Hindalco Industries gained 2-2.5 percent after China's factory data. The HSBC/Markit Flash China Manufacturing Purchasing Managers' Index rose to 52.0 in July, the highest reading since January 2013, from June's final reading of 50.7 as new orders surged. FMCG major Hindustan Unilever gained 1.5 percent. Its parent company Unilever said underlying sales rose 3.8 percent as against expectations of 4.3 percent.

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Equity benchmarks saw record closing high again on Thursday with the 50-share NSE Nifty holding 7800-mark for the first time (at close) supported by FMCG, technology and metal stocks. The market gained strength in last hour of trade after seeing consolidation from the beginning, continuing upmove for the eighth consecutive session today. The Sensex climbed 124.52 points to 26271.85 and the Nifty rallied 34.85 points to 7830.60 after hitting a day’s high of 26292.66 and 7,835.65, respectively.

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Wednesday, 23 July 2014



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Moasam Chasina pooku



The interviews, done in March before the outcome of the general elections, pointed out to much optimism on the economic environment among the UHNIs. .
Diwanji said because of this, there has been an increase in spending to the tune of 44 per cent in FY'14 from the 30 per cent in FY12.

He said even though investing in real estate continues to be a favourite avenue, allocations to equity are also growing and grew to 38 per cent in FY14, up from 35 per cent the previous year.

Kotak Mahindra Bank joint managing director C Jayaram said the propensity towards equities will only grow now on given the changes in the tax laws governing fixed income investments, which was a favourite earlier, in the budget.

Telugu Masala Kathalu-bhookampam

Telugu Masala Kathalu


Balaraman said the firm, which partnered with the Kotak Wealth Management to launch the report, extrapolated available economic data to arrive at the current number of UHNIs, their wealth, as also the estimates going forward.

Even though the rising criticism of the country going the crony capitalist way and questions over wealth creation by the few dominating public discourse, Balaraman said the report did not devote any attention to how the wealth was created.

Of the UHNIs, 150 individuals and another 15-20 companies closely associated with the segment like those selling luxury brands and wealth managers, were interviewed to analyse how the wealth gets allocated to different uses like leisure, travel, investments and philanthropy.

Telugu Dengudu Kathalu



The number of ultra-high networth individuals (UHNIs) having an investible surplus of over Rs. 25 crore rose 16 per cent to 1.17 lakh last fiscal, and this is estimated to triple to 3.43 lakh in the next three years, says a report.

As for the underlying wealth held by this uber rich grouping, which also includes professionals having an annual income of over Rs. 3 crore, grew 21 per cent to Rs. 104 lakh crore, and will grow four times to Rs. 408 lakh crore in the next three years, says a wealth report by the Kotak group and Ernst & Young.

"There has been an impressive rise in wealth creation and will only increase in the years ahead. Growth in the underlying wealth will outpace growth in the number of UHNIs," consultancy firm E&Y partner Murali Balaraman told reporters here.

His colleague Abizer Diwanji said from the societal point of view, managing this growth in the number of the rich people will not cause any tensions as economic disparity is an "accepted norm" in the country.

kanuvippu Telugu Midnight Kathalu



 Drug firm Sanofi India on Wednesday reported a 12.30 per cent increase in net profit at Rs. 57.5 crore for the second quarter that ended on June 30, 2014.

The company had posted a net profit of Rs. 51.2 crore for the corresponding period a year ago.

Net sales rose 18.70 per cent to Rs. 486.7 crore during the quarter under review from Rs. 410 crore a year ago, it said in a filing to the BSE.

Overall expenses stood at Rs. 431.9 crore in the quarter as against Rs. 370.4 crore a year ago.

The company's board, which met on Wednesday, recommended an interim dividend of Rs. 10 per equity share.

Shares in Sanofi India, on Wednesday, ended at Rs. 2939.50 apiece on the BSE, down 1.24 per cent from the previous close.

Mangala Gowri Aunty Ni Kutha Pagala Denganu

Telugu Aunty Boothu Kathalu
The Nifty rose to a record high on Wednesday, gaining for a seventh straight session, led by technology stocks on continued buying by foreign-investors on a positive earnings outlook, while firm Asian markets also helped sentiment.

The broader Nifty has risen 27.90 percent in U.S. dollar terms this year, the second best performer in Asia, helped by strong foreign flows on expectations the government headed by Prime Minister Narendra Modi would usher in reforms and effect a rebound in Asia's third largest economy.

Overseas investors bought Indian shares worth Rs. 412 crore ($68.6 million) on Tuesday, marking inflows of $620.86 million over five consecutive days of buying, exchange and regulatory data showed.

TeluguboothuKathalu- abhisarika 04



Preparing a Will is just a click away as brokerage firm HDFC Securities has launched 'e-Will' writing service.

"This is the first of its kind in India and this service enables individuals to easily draw up a tenable Will online with help from a legal firm," HDFC Securities' managing director Aseem Dhru told PTI.

"A person can prepare a Will in an easy and hassle-free manner by registering on the website", he said, adding a person has to give list of assets and to whom one would like to bequeath them to.

"Our legal advisor would prepare draft and send it to the creator for approval. Once it is approved, a tenable Will is prepared for the execution," he said.

HDFC Securities, a subsidiary of HDFC Bank, has collaborated with a partner Legal Jini to offer this service.