India Ranks 132rd In `Ease Of Doing Business- KFA Crises Deepens, Staff Reject Management`s Offer-Rajat Gupta May Get 8-10 Yr Jail Term-Sensex Down 83 Pts

Tuesday, Oct 23, 2012 INDIA RANKS 132rd IN 'EASE OF DOING BUSINESS'   Under the latest report on Doing Business 2013, from the World Bank and the IFC, out of 185 economies around the world that were analysed for ease of doing business - measured across 10 indices (from starting a business to registering property to securing credit to enforcing contract to protecting investors, among others)- India ranks a lowly 132rd place! That makes it a more business-unfriendly place than every other country in the subcontinent barring Bhutan (which ranks 148th). Pakistan (107), Bangladesh (129), Nepal (108) and Sri Lanka (81) fare higher up the ladder than India. read more   LEAD STORIES SENSEX DOWN 83 PTS AHEAD OF EXPIRY   Markets were weighed down by ITC, Infosys, Hero MotoCorp shares, amid choppy trade ahead of October expiry. Nifty down 25.75 pts at 5,691.40. read more STALEMATE: KFA STAFF REJECTS 3-MONTH SALARY FORMULA   Striking employees have written to Vijay Mallya saying they have lost faith in him and have asked him to pay their 7-mth salary dues by Oct 26. read more INSIDER TRADING: RAJAT GUPTA MAY GET 8-10 YR JAIL TERM   U.S. prosecutors are considering 8-10 year jail term for ex-Goldman Sachs board member Rajat Gupta. Global biz leaders have urged for lenient term. read more TOP STORIES • Rupee slips 25 paise to 53.72 on heavy $ demand   • M'rashtra Inc to observe bandh over high power tariff   • Coal imports jump 18% YoY in first half of FY13   • Guj Cong smells rat in GSPL pipeline contracts   • RBI eases currency hedging norms for FIIs   • Share mkting margin, will approve spends: DGH to RIL   • Hero MotoCorp Q2 net plunges 27% to Rs 440 cr   • Sterlite Q2 net up 75% at Rs 1,743 cr on forex gains   • YES Bank Q2 net up 30% to Rs 306 cr, meets forecast   • Western Union, ICICI Bank launch prepaid card   • Maruti's new Alto crosses 21,000 bookings   • Nissan to hike Micra, Sunny prices on rising costs   • Honda launches CNG-powered 'City' car at Rs 9.03 lakh   • Airtel tops Linkedin's "Most in Demand Employers' list   • Govt to look into Gadkari's corruption links   • Yeddyurappa to quit BJP, launch party on Dec 10   • MHA rejects Kasab's mercy petition, ball in Prez court   • China hints at reform by dropping Mao's legacy   • Obama scores over Romney in final showdown   • Apple to launch mini-iPad to take on Amazon, Google   more stories TOP VIDEOS RBI Under Pressure To Ease Interest Rates. Expect CRR Cut On October 31: Jyotivardhan Jaipuria, Head - Research, BofA Merrill Lynch   There Is No Evidence That Increased Government Spend ing Leads To An Improvement In The Economy: Marc Faber, Editor, Gloom, Boom & Doom Report   BATTLE FOR THE WHITE HOUSE: After Two Contentious Debates, Here Is The Final One Between President Barack Obama And Republican Challenger Mitt Romney   AT A GLANCE BSE 18710.02 -83.42 NSE 5691.4 -25.75 TURNOVER Rs. 196,577 cr BSE CASH Rs. 2,084 cr NSE CASH Rs. 8,238 cr NSE F&O Rs. 160,453 cr BULLION GOLD 30942 -126 SILVER 59149 -465 CRUDE NYMEX 85.88 -2.77 BRENT 107.92 -1.52 FOREX $ / Re 53.72 +0.25 £ / Re 85.597 -0.16 € / Re 69.621 -0.35 EVENTS TO WATCH 25 October Q2 Earnings: Kotak Mahindra Bank, Mahindra and Mahindra, Asian Paints India Show Concurrently With 6th China International Auto Parts Expo Organised By CII In Association With Ministry Of Commerce And Industry And Embassy Of India, Beijing. 26 October Microsoft To Launch Windows 8 26-28 October F1 Grand Prix, Buddh International Circuit, Greater Noida 30 October RBI Credit Policy

(On Hero Motocorp's Q2 performance)"The two-wheeler market in the country has been adversely impacted due to the overall market slowdown and prevailing sentiments since the beginning of this quarter." Pawan Munjal MD & CEO, Hero MotoCorp (On doing biz in India)"After establishing its first credit bureau in 2004, India focused mostly on simplifying and reducing the cost of regulatory processes in key areas such as starting a business, paying taxes, and trading across borders. These efforts notwithstanding, further progress is needed in coming years to release the vast potential of India's private sector." Augusto Lopez-Claros Director - Global Indicators & Analysis, World Bank Group (On BJP president Nitin Gadkari)"Obviously, there is suspicion about his integrity and in the interest of the party and his own interest he must get out of this position. It weakens the party position. In the coming elections we are fighting against corruption and we have to have a man of absolute impeccable integrity." Ram Jethmalani BJP Leader