INDIA BUSINESS UPDATE - Earthquake, Tsunami Devastate Japan; Sensex Sheds 153 Pts; Hasan Ali Gets Bail

Friday, Mar 11, 2011 SPECIAL LEAD Click here for India Business Update Mobile Version EARTHQUAKE, TSUNAMI RAVAGES JAPAN The biggest earthquake to hit Japan in 140 years struck the northeast coast on Friday, triggering a 10-meter tsunami that swept away everything including houses, ships, cars and farm buildings. According to initial reports, at least 60 people have died in the 8.9 magnitude quake. A tsunami warning has now been issued to Russia, Taiwan, the Philippines, Indonesia, Papua New Guinea, Australia, New Zealand, Fiji, Mexico, Guatemala, El Salvador, Costa Rica, Nicaragua, Panama, Honduras, Chile, Ecuador, Colombia and Peru. read more LEAD STORIES MKTS SHAKEN BY JAPAN QUAKE; SENSEX SHEDS 153 PTS Sensex closed down at 18,174.09 points as a massive Tsunami engulfed Japan and Middle East woes continued. Nifty lost 48.95 points to end at 5,445.45. read more SLAP FOR ED, HASAN ALI GETS BAIL A local court granted bail to Hasan Ali Khan on surety of Rs 80,000 ruling that no evidence was presented by ED showing any offence committed by Khan. read more TOP STORIES • January IIP at 3.7% vs 1.6% in December • No tsunami threat to India: Govt • List of companies likely to be hit by Japan quake • Gaddafi troops launch assault on Libya oil port • HC admits winding up petition against Wockhardt • Nippon to buy 26% in Reliance Life for $724 mn • StanChart moves SC for share in Harshad Mehta assets • 2G scam: CBI quizzes DMK MP Kanimozhi • CBI conducts search ops in Simplex Infra premises • No proposal to ban Chinese equipment in power projs • Companies Bill may not be passed in Budget session • Fire at Tata Global Beverages in Munnar • ABB to buy ABS Global Industries for Rs 400 cr • Iron ore prices fall by 50% on low China demand • Pan masala, gutkha in paper, aluminium sachets soon • Rajaratnam paid for tips, ex-McKinsey Kumar testifies • Nomura to sell Japanese restaurant to Bain for $3.4 bn • In pics: Massive quake triggers Japan tsunami • Investing in art, wine and other tangible assets • Now, a credit card that talks to you! more stories TOP VIDEOS 4.6% Fiscal Deficit Is Highly Unrealistic: Dr Shankar Acharya, Former Chief Economic Advisor & Honorary Professor, ICRIER The Problem Is The Economy Has Been Divided Into Two Parts - The Investment Side Is Not Working, The Consumption Side Is Working Just Fine: Samiran Chakraborty, Head Of Research, Standard Chartered Bank Emerging Markets To Keep Swimming In Circles, No Deep Correction For Now: Tim Condon, Head Of Research, Asia, ING Financial Higher Oil Prices Are Not So Directly Negative For Emerging Markets: Manpreet Gill, Asia Strategist, Barclays Wealth AT A GLANCE BSE 18174.09 -153.89 NSE 5445.45 -48.95 TURNOVER Rs. 135,063 cr BSE CASH Rs. 4,065 cr NSE CASH Rs. 11,172 cr NSE F&O Rs. 119,825 cr BULLION GOLD 20820 -16 SILVER 52078 -896 CRUDE WTI 99.86 -2.84 BRENT 5120.49 -54.87 FOREX $ / Re 45.24 +0.24 £ / Re 72.402 +0.07 € / Re 62.372 +0.14 EVENTS 11 March SIM'ergence 2011, India- New Decade, New Horizon, New Challenges, BSE Hall, Mumbai Information Technology Conference 2011 "Fostering Inclusive Growth Through IT", Indian Merchants Chamber, Mumbai 16 March Consumer Investment Summit 2011, Taj President, Mumbai 15-16 March 6th Annual Conference On City Gas Distribution In India, The Imperial, New Delhi 16-18 March Water Expo, Chennai Trade & Convention Centre, Chennai 24-26 March 19th Convergence India 2011, Pragati Maidan, New Delhi EXPERT VIEWS "We are working on the Companies Bill. But because Parliament is being cut short, we may not be able to pass it in this session. But we will definitely be able to get it through in the next session." RPN Singh Minister Of State For Corporate Affairs "At the beginning of last year, food inflation was 20.2%, and now it is 9.5%. However, this figure is equally unacceptable...I am not making any plea...But the fact of the matter is inflationary pressure is visible all over the world. It is not merely in our country." Pranab Mukherjee Finance Minister "We have overwhelming evidence (to show Hasan Ali Khan's culpability in money laundering) but probably the court failed to appreciate those. We will appeal before a superior court." Rajiv Awasthi Counsel For Enforcement Directorate WATCH OUT Investothon 2011 15th March 2011 is World Investor Day. To support investor Education and Empowerment on the India Chapter of this Global event, NSE & CNBC-TV18 Present Investothon 2011 to be held on 27 March 2011 in Mumbai. To participate in this historic run, SMS INVC space name and company to 51818. You can also win two tickets to Goa. SHOW TIMINGS 27 March, 7 am onwards