SEBI Warns Bourses Of Terror Funds From Iran, N. Korea; Govt Delays Decision On Fuel Price Hike; SC Clears Prosecution Of 3 Reliance Executives

Tuesday, May 10, 2011 SPECIAL LEAD Click here for India Business Update Mobile Version SEBI WARNS BOURSES ON MONEY FROM IRAN, N.KOREA Fearing possible black money flow and terror financing risks from Iran and North Korea into the Indian stock market, Sebi has asked bourses to be cautious in dealings with funds and entities from those countries. Sebi has sent to the bourses a global caution notice against the two countries from FATF (Financial Action Task Force), an inter-governmental body that makes policies to combat money laundering and terror funding. There was a similar warning from the RBI to banks and financial institutions in March. read more LEAD STORIES ELECTIONS DEFER MEETING ON FUEL PRICE HIKE The Empowered Group of Ministers meeting to consider raising fuel prices has been deferred to May 17-18 on account of elections. read more SC CLEARS DECK FOR PROSECUTION OF RELIANCE EXECUTIVES AN Sethuraman, Shankar Adawal and V Balasubramanium of the undivided Reliance Group will face criminal proceedings under the Official Secrets Act. read more SENSEX ENDS 16 PTS DOWN IN VOLATILE TRADING The markets saw volatile trading with heavy selling in banking and refinery stocks. Nifty was down 9.85 to 5541.25 points. Sensex closed at 18,512.77. read more TOP STORIES • Exit Polls: UPA victory in West Bengal, Kerala • Microsoft agrees to buy Skype for $8.5 bn • First-ever shale gas bid round to be launched soon • Mumbai international airport puts Kingfisher on notice • Biyani's Future Ventures debuts with 17% fall to Rs 8.65 • SKS Microfinance bounces back, stock up 10% • Draft norms on new banking licences soon: RBI • Will amend land acquisition act: PM • India to reject EU proposal on Doha round • RIL replies to SEBI showcause on RPL share sale • BSNL to talk to pvt operators for sharing tower infra • HDFC Q4 net up 23% at Rs 1,142 cr; pay 450% dividend • Ranbaxy Q1 net falls 68% to Rs 304 cr • Govt likely to approve FDI in LLP tomorrow • Exports will show a drastic fall if DEPB stopped: FIEO • No service tax on hotel food sent up to rooms • Tata Motors launches 3-seater Magic IRIS at Rs 1.95 lk • 2G scam: Court exempts Kanimozhi from appearance • Binayak Sen allowed to visit S.Korea to receive award • Nooyi, Sanjay Jha among highest paid CEOs in U.S. more stories TOP VIDEOS Concerned About Low Retail Partcipation: UK Sinha, Chairman, SEBI Most Of Our Portfolio Companies Are Profitable, Two Of The IPO Ready: Kishore Biyani, CEO, Future Group AT A GLANCE BSE 18512.77 -16.19 NSE 5541.25 -9.85 TURNOVER Rs. 110,110 cr BSE CASH Rs. 2,446 cr NSE CASH Rs. 8,631 cr NSE F&O Rs. 99,033 cr BULLION GOLD 22169 +169 SILVER 58520 +1412 CRUDE NYMEX 102.25 -0.08 BRENT 116.25 +0.35 FOREX $ / Re 44.75 +0.07 £ / Re 73.207 +0.15 € / Re 64.261 +0.42 EVENTS 11 May Global Technology Partnership Forum 2011, Taj Palace, New Delhi 12 May Industrial Growth For March To Be Detailed By CSO Primary Articles Inflation Rate To Be Detailed By Commerce & Industry Ministry For Week Till April 30 May 13 Election Results For Tamil Nadu, Kerala, Puducherry, West Bengal & Assam EXPERT VIEWS "There is no doubt that Anil Ambani has made a deal with (former Telecom Minister) Raja to migrate (from CDMA to GSM) without paying too much. Similarly, Ratan Tata has also committed a fair amount of irregularities." Subramanian Swamy President, Janata Party "The Prime Minister had then said that he would ensure that the Bill (Land Acquisition Act) be passed as soon as possible. But two Parliament sessions passed since then. I reminded him about his commitment. The Prime Minister has told me that the Bill will definitely be brought before Parliament in the next session." Ajit Singh Chief, Rashtriya Lok Dal "From 9/11 where we (U.S.) lost 3000 people, about 42 Indians, to 26/11 where scores of Indians were slaughtered by terrorists, including six Americans who died on that day, America and India especially over the past two years have come together to share intelligence, in unprecedented ways." Timothy J Roemer U.S. Ambassador To India WATCH OUT Young Turks Dream Decade This week go On The Road to meet Puneet Kaura of Samtel Display Systems, manufacturers of high technology products in the defence avionics space. On Young Turks Tutorial, catch the Co-founders of Kleeto, a data and document storage service, in a master class with Saurabh Srivastava of Computer Associates. And on YT Buzz meet Purushottam Mishra whose SmartBox is helping students access their study material while on the go! SHOW TIMINGS Wednesday 7:30 pm