15.03.2007

• What is sub-prime mortgage market in the US?
• It means that there are concerns about widespread defaults by home loan borrowers in the US and that it could put breaks on the US economy.
• This is one of the reasons attributed for recent global volatility in all markets across the board.
• Nandigram violence
• About 11 people were reportedly killed in the violence that erupted at Nandigram village in West Bengal. The villagers were protesting land acquisition for industrial use.
• What is surprising is that the Left Front partners in West Bengal also seem to have joined the protests and are now demanding the Chief Minsiter’s scalp.
• First Indian space tourist
• Mr. Santosh Kulangara, Managing Director of Labour India Publications has paid $20,000 (that is about a crore of rupees) to Richard Branson’s Virgin Galactic for a less than 3 hours space odyssey.
• He produces ‘Sancharam’ a weekly travel programme on TV.
• Corporate bond markets and shelf prospectus
• A shelf prospectus is one which is issued by a financial institution or bank for one or more issues of the securities or class of securities specified in the prospectus. The advantage of shelf prospectus is that the institution will not be required to file fresh prospectuses at every stage of offer of securities within the period of validity of such a shelf prospectus.
• Budget 2006 had announced the setting up of a unified exchange traded market for corporate bonds in the light of recommendations made by the RH Patil committee.
• At present, corporate bonds are traded along with government securities in the bonds market.
• Land title insurance!!
• This is a method of bringing clarity in the land titles.
• It is an insurance against loss from defect in land title. It is meant to protect a property owner’s or lender’s financial interest in property against loss due to title defects, liens or other matters.
• This is prevalent in advanced countries like the US and some European countries.
• Smorgasbord – vocabulary
• In one article today I came across this sentence: “Reform is not a smorgasbord of assorted delicacies …”.
• What is smorgasbord? Here is what I found on the web:
• Smorgasbord is an anglification of the Swedish word Smörgåsbord. It is a buffet style table in a restaurant, or a holiday feast at home, prepared with many small dishes. For a fixed amount of money, you are allowed to eat as many of these as you wish. In an extended sense, the word is used to refer to any situation which invites you to select whatever you wish among several pleasant things, such as the smorgasbord of university courses, books in a bookstore etc.
• Natural gas consumption
• Globally gas accounts for about 24% of the total primary energy consumption.
• But in India, it accounts for a mere 8%.
• India’s GAIL has over 6000 KM of strong high pressure trunk lines (gas pipes). It intends to add another 5000 KM.
• Project rating to help infrastructure projects and companies
• Because the government usually comes out with an SPV (Special Purpose Vehicle) for new infrastructure projects, they find it hard to raise finances in view of their ‘just established’ status.
• With a view to help them achieve financial closure, the government is thinking of introducing project rating at pre-bidding stage to assess risks and modify project parameters to minimize risk perception.
• US bond market
• It has offered the highest rate of 5% in 2006 among comparable safe investments.
• Beckham’s career
• UK’s famous footballer, who joined Manchester United at the age of 16 and was transferred to Real Madrid in 2003, has finally bid adieu to his native club.
• He joins Los Angeles Galaxy in Major League Soccer, on a 5 year contract.