25th October - BUSINESS STANDARD

Rima Sharma
Riya Sharma
Rishi Raj Bora
Section - G

India's IMF quota set to rise:
The country will get more voice in decision-making at IMF. Developed nations on Saturday agreed to increase the quota of emerging and developing countries in the International Monetary Fund. The reformist move will improve India’s quota from 2.44 per cent at present to 2.75 per cent, and move it three slots up in IMF from the eleventh position to the eighth position. This will give the country more voice in decision-making at the multilateral institution. Finance Ministers of the G20 nations also agreed to move to an all-elected IMF board, along with a commitment by IMF's members to maintain the board size at 24 chairs, and review its composition every eight years after the completion of the 2014 general review. Apart from India, other BRIC countries are also expected to benefit from the agreement.
Delhi's new terminal still not ready for domestic fliers:
Five months after the world's sixth-largest airport terminal(T3) at New Delhi's Indira Gandhi International Airport was inaugurated,it is all set to miss its deadline to host domestic carriers for the third time.

Deadline
Reason for deferment
July 31
Erratic power and water supply
Aug 27
Erratic power supply, Commonwealth Games
Oct 30
Power supply, traffic congestion
Analysts said the delay could have cost implications for Delhi International Airport Ltd and these things can only be fixed by making the government agencies more accountable. This delay has impacted the plans of the airport operator to convert the earlier international terminal(T2)into low-cost international terminal.T2 is lying unutilised ever since the international operations were shifted to T3.
CMs want date with Obama; US says no
The queue of Chief Ministers wanting to have exclusive meetings with President Barack Obama is getting longer by the day. Since Obama will stay in Mumbai on his way to Delhi, the Maharashtra Government thought it had an edge over others in organizing such a meeting between CM Ashok Chavan and the visiting President. Over 1,600 US securities personnel will be deployed during Obama's visit. Some of the top officials have already landed and visited several places including the Taj Mahal Hotel which bore the burnt of the terrorist attacks on Mumbai in November 2008.
Number portability put off once again:
Communications Minister A Raja’s promise to let people switch their mobile service operators while retaining their telephone number has got delayed once again — the deadline for the implementation of mobile number portability has been postponed from October 31 to December 20.The official reasons for the delay sound familiar. One, the service operators are not ready, though several of them are working overtime to launch third-generation services by Diwali. Two, the investment proposal of the overseas partner of one of the two companies mandated to implement portability has not yet been cleared by the Foreign Investment Promotion Board (FIPB). Meanwhile, the Department of Telecommunications has asked Syniverse Technologies to get ready for mobile number portability across the country.
5) Lupin, Orchid up on merger buzz:
Share prices of the two drug majors touch 52-week high on BSE(Bombay Stock Exchange), owing to speculation that Lupin wanted to buy- out the Chennai-based Orchid.

BSE/NSE Price
During the week, Lupin's shares rose 3.92 percent, while Orchid went up4.6 percent on the Bombay Stock Exchange. When contacted, both Lupin and Orchid denied any merger plan.
Range trading likely to continue:
It was another volatile week for the markets, although the trading band for the Sensex narrowed to 500-odd points as compared to 765 points in the preceding week. The index, after a high of 20,332, tumbled to a low of 19,823, and settled with a marginal gain of 41 points at 20,166. Among index stocks — Sterlite slumped nearly six per cent to Rs 168. Wipro and HDFC tumbled around five per cent each. Jaiprakash Associates, Tata Steel, DLF and HDFC Bank were the other major losers. TCS zoomed over nine per cent to Rs 1,040. Reliance Industries, Cipla and Hero Honda were the other major gainers. During the same time, we could see a series of lower highs. Next week, the index is likely to face resistance around 20,370-20,500. On the downside, the index is likely to seek support around 19,960-19,840. In case the index breaks below 5,960 on the closing basis, it could drop all the way to 5,820, which is the medium-term (50-day) trend line of the index.