Indian Premier League would generate a revenue of $1 billion this season, thanks to huge fan following across the globe, attracting a large number of advertisers, its Commissioner Lalit Modi said on Wednesday.
The most marked development of the year was the Rs 10,000 crore (Rs 100 billion) Satyam financial scam, disclosed by the founder B Ramalinga Raju, forcing the government to redraft rules for corporate governance and auditing standards.
India achieved the distinction of being the second fastest growing economy amid the global recession in 2009, but the joy was marred by the decade's sharpest rise in food prices to the chagrin of common man.
Besides, some foreign MNCs -- possibly enticed by the world's second fastest growing economy -- sought to enter India by acquiring into local companies, mostly in telecom, steel and pharma sectors.
Ever since the trial began in May, Kasab, a fourth standard dropout of an Urdu medium school, has been keenly observing the proceedings and picked up bits of English and even Marathi as witnesses, lawyers and the judge speak in these languages although the evidence is recorded in English.
Defending Ajmal Kasab, the prime accused in the Mumbai terror attacks case, has been a difficult assignment for his lawyer Abbas Kazmi, who has complained about the lack of privacy during discussions with his client. Asked about how Kasab came across during these discussions, he said, "We talk only about the case and its legal aspects. He has never opened up or conveyed his feelings." Kazmi claimed there was no evidence to show that Kasab was a habitual criminal.
Also, there are many other important aspects of evidence, which the prosecution has to adduce to expose terrorist infrastructure of perpetrators of the crime, he said, adding they will not let Kasab succeed in his 'motive' of escaping with lesser punishment.
The best part of the economy was its resilience, of course with a little help in the form of fiscal actions from the government to reverse the slow down, at a time when finance minister P Chidambaram was asked to take charge of the law and order machinery as home minister in the face of Mumbai terror attacks.
Coca Cola is planning more investments in India on top of its Rs 1000 crore budget for this market. The incremental investment will be made in the next three years. This is with the view of making India amongst Coke's top five markets. Coke regards India as a 'profitable' venture that is adding to the balance sheet of the global giant. India is currently at number 17 in the list of countries where Coke is present and had emerged among the best markets for Coke during 2007.
Ambani vs Ambani, Tata vs Birla, Ambani vs Mittal, the fights came in all permutations and combinations, making 2007 arguably the most happening as well as a tumultuous period for the Indian industry that stamped its authority overseas with about 250 acquisitions worth over $32 billion.
Even with less than four dozen in number as listed entities, the PSUs account for over 20 per cent share of the overall market capitalisation of the more than 4,000 entities at the bourses.
SBI is keen on big overseas acquisitions that will give it a 'strategic fit' along with new products and access to cheaper capital. SBI is not keen on small foreign banks worth a few millions, chairman O P Bhatt said.
Banking is all about leveraging, the ICICI boss said.
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