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Posted

A typical lack-lustre Fri for the early openers: Kiwis +0.3%, Aussies -0.2%, Nikkers -0.1% and Sth Korea -0.6%.

 

Minor movements in Aussie sectors: Gold +1.1% is the upside lead with Utilities -0.9% at the other end.

 

 

t?s=%5ENZ50

 

 

t?s=%5EAORD

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Posted

Supreme Court of India takes of the side of common man

 

* February 2, 2012, 2:02 PM IST

India’s 2G Ruling Shocks Telecom Industry

 

India’s congested telecoms market is poised for shake-up after the 122 mobile telephone licences awarded in 2008 by Andimuthu Raja, the country’s jailed former telecoms minister, were cancelled in a shock move by the supreme court.

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The top court on Thursday ruled that the licences, which are the subject of a high-profile corruption trial in New Delhi, be cancelled on the grounds that their award by the government was “totally arbitrary and unconstitutional”. It has requested that the Telecoms Regulatory Authority of India prepare for a fresh auction of 2G mobile telephone licences within four months.

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Corruption charges levelled against senior government officials and the fast-growing telecoms sector have rocked India’s political and business establishment over the past 18 months. An official audit at the end of 2010 estimated the cost to the country of the botched auction of mobile licences was $39bn.

http://www.ft.com/intl/cms/s/0/460354c8-4d6e-11e1-bb6c-00144feabdc0.html#axzz1lHnJ3U00

Posted

w?s=%5EAORD

 

 

Down for the broader market with All Ords closing -0.3% however the small companies are seeing some buying action. In the sectors, Gold +0.9% and IT +0.3% were the only green sectors with Consumer Staples -1.1% down the most.

 

Over in Asia, China, India and Honkers all -0.1% and Nikkers -0.6%.

 

 

On to UK/Europe:

 

 

image;size=239x110

 

 

 

image;size=239x110

 

 

 

image;size=239x110

Posted

Supreme Court of India takes of the side of common man

 

India’s congested telecoms market is poised for shake-up after the 122 mobile telephone licences awarded in 2008 by Andimuthu Raja, the country’s jailed former telecoms minister, were cancelled in a shock move by the supreme court.

-

The top court on Thursday ruled that the licences, which are the subject of a high-profile corruption trial in New Delhi, be cancelled on the grounds that their award by the government was “totally arbitrary and unconstitutional”. It has requested that the Telecoms Regulatory Authority of India prepare for a fresh auction of 2G mobile telephone licences within four months.

 

http://www.ft.com/intl/cms/s/0/460354c8-4d6e-11e1-bb6c-00144feabdc0.html#axzz1lHnJ3U00

 

Bwahaha ... Pay Your Kickbacks Twice !!!

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