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Shifting the goal-posts
Business Standard / New Delhi December 21, 2009, 0:38 IST

Inflation a risk to recovery: World Bank
Asian economies must handle their monetary and currency policies carefully to avoid unleashing a wave of potentially destabilising inflation, World Bank President Robert Zoellick said today. The US and European economies, which are barely starting to recover from the global meltdown, are less at risk, but in Asia, the massive liquidity flowing into regional markets could push asset prices up dangerously high, Zoellick said.

News of the day

Cognizant acquires US consultancy firm
Cognizant Technology Solutions, a leading provider of consulting, technology and business process outsourcing (BPO) services, said on Tuesday that it had acquired all the assets of Pepperweed Advisors, the information technology consulting services division of Pepperweed Consulting. The company did not disclose the value of the acquisition.
Business Ideas

BSNL FY09 net dips at Rs 104 cr as wage rises, revenue falls

State-run Bharat Sanchar Nigam"s (BSNL) net profit dipped to Rs 104 crore in 2008-09 as staff costs rose and revenues fell in the period, Rajya Sabha was informed today. - IDBI Q1 net up 7.56% - Gammon Infra FY09 net profit up 75% at Rs 32 cr - BSNL fails to retire Rs 7,500 cr govt loan: CAG report - Sterlite Technologies wins Rs 372 cr BSNL contract - Fin Min-led GOM to handle 3G spectrum issues - COMPASS - Infosys: Caution"s the watchword">COMPASS - Infosys: Caution"s the watchword Minister of State for Telecom and IT Gurudas Kamat said the income of BSNL in 2008-09 is Rs 34,937 crore and the net profit is less than last year"s profit. He did not give the comparable net profit figure for the previous year. He said profit has gone down as staff costs have gone up due to revsion of pay and merger of 50 per cent IDA with the basic pay for all employees, and also due to the decline in income from services. Revenue from basic services dipped by 20.65 per cent in 2008-09 to Rs 11,505 crore from Rs 14,499 crore in 2007-08. The number of BSNL"s landline connections has also fallen in the last six months. He said the number of working BSNL landline telephone connections has reduced by 7.27 lakh during the last six months to 289.76 lakh in May 2009 from 297.03 lakh in November 2008. Kamat said the main reason for the surrender of landlines was the increasing usage of mobile phones. Kamat said government has ordered a special audit of the country"s five private mobile telecoms firms to check whether there had been any misreporting of revenue.


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