FDI Retail Debate | Sushma-Sibal Duel In Parliament; Maldives To Take Over GMR Airport On Saturday; IOC Suspends IOA, Sensex Up 42 Pts

Tuesday, Dec 04, 2012 FDI RETAIL DEBATE: SUSHMA-SIBAL DUEL IN PARLIAMENT   Even as the Lok Sabha erupted with the mere mention of the FDI debate, the speaker managed to bring the situation under control and ruled that the FDI debate and the discussion on FEMA will be conducted together, but the voting will happen separately tomorrow. Leader of the Opposition Sushma Swaraj in her nearly 90-minute speech, maintained that the concept of large supermarkets has failed in Western economies and said they are not opposed to FDI in airlines or power but only retail. Congress' Kapil Sibal attempted to counter Sushma Swaraj point by point. (SEE TOP VIDEO BELOW FOR SUSHMA SWARAJ'S SPIRITED DEBATE) read more   MALDIVES TO TAKE OVER GMR AIRPORT ON SATURDAY   Maldives Airport expects to take over the island nation's main airport on Saturday, as a deadline given by the government to an Indian-Malaysian consortium to hand over the facility expires Friday. The Maldives government shrugged off a Singapore court ruling that stayed a government notice for the consortium of GMR Infrastructure and Malaysia Airports Holdings to terminate operations there. read more   LEAD STORIES IOC SUSPENDS IOA, INDIANS CAN'T COMPETE IN OLYMPICS   In a huge embarrassment for India, the International Olympic Committee suspended the Indian Olympic Association because of government interference, read more SENSEX SNOOZES AS FDI LOGJAM CONTINUES; UP 42 PTS   Markets saw good buying in Tata Power, RIL & SBI even as FDI retail debate took place in the parliament. Nifty up 18.30 pts at 5,889.25. read more DEFER CASH TRANSFER SCHEME IN GUJ, HP: EC TO GOVT   EC says the announcement was 'avoidable' during the election process when Model Code of Conduct is in operation as these 2 states go to poll. read more NOW, KEJRIWAL TARGETS MODI OVER GUJARAT GAS DEAL   Arvind Kejriwal took on Narendra Modi over the Tehelka report alleging irregularities in the sale of stake worth Rs 20,000 cr in GSPC's KG project. read more TOP STORIES • SC defers hearing in Sahara refund case to Dec 5   • Piramal's Indiareit Fund raises Rs 440 cr from sales   • Moody's maintains negative outlook on Indian banks   • Cos Bill for independent regulator for auditors   • Flipkart, Bharti Walmart under lens: Govt   • Concern in LS over ATMs dispensing fake notes   • RBI signs currency swap arrangement with Japan   • HC wants RIL to become party to insider trading case   • Piramal Enterprises buys UK's Abacus International   • POSCO in talks for ArcelorMittal Canada mine stake   • ArcelorMittal gets nod for multibillion Arctic iron ore   • Tata Hsg sells 150 luxury units for Rs 350 cr in 2 days   • Cos mop up nearly Rs 9,500 cr via primary market   • Online booking of air tickets grew 31% in Oct: IAMAI   • Jet to take delivery of 5 ATR 72-600 by March   • Gujarat polls: Congress promises free laptops, tablets   • Uddhav Thackeray is editor of Shiv Sena newspapers   • Telenor offices in Norway raided in competition probe   • Aware of Chinese activities along borders: Antony   • iTunes debuts in India, download HD movie for Rs 490   more stories TOP VIDEOS PARLIAMENT DEBATES FDI IN RETAIL: BJP Leader Sushma Swaraj Puts A Spirited And Convincing Debate On Why FDI Retail Should Not Be Encouraged In India   Expect Positive Bias To Be Maintained In December Series. Expect Momentum To Pick Up If Sensex Crosses 20,000: Vineet Bhatnagar, MD, Phillip Capital   India Still A Domestic Demand Driven Market Vs Asian Peers. Developing Markets Preferring Risk Off Trades Now: Richard Gibbs, Global HD, Macquarie Sec   HARDTALK: U.S. Economy Is Set For A Revolution As The Country Becomes Self-sufficient In Energy: Peter Voser, CEO, Royal Dutch Shell   AT A GLANCE BSE 19348.12 +42.8 NSE 5889.25 +18.3 TURNOVER Rs. 127,684 cr BSE CASH Rs. 2,917 cr NSE CASH Rs. 12,558 cr NSE F&O Rs. 86,258 cr BULLION GOLD 30950 -312 SILVER 60670 -1144 CRUDE NYMEX 87.81 -1.28 BRENT 109.32 -1.6 FOREX $ / Re 54.675 -0.1 £ / Re 88.049 +0.11 € / Re 71.559 +0.21 EVENTS TO WATCH 5 December National Conference On Power - Fuel Security & Viable Distribution Organised By ASSOCHAM, Hotel The Lalit, New Delhi 6 December 7th Public Procurement Summit, Towards Enhancing Transparency, Efficiency & Accoutability, Le Meridien, New Delhi 7 December International Conference On Rail @ 2020 Organised By ASSOCHAM, Hotel Taj Mahal, New Delhi EGoM On Telecom To Discuss The Roadmap For Spectrum, New Delhi 18 December RBI Credit Policy The Penguin Annual Lecture 2012 - Beyond 2020, India Habitat Centre, New Delhi

"Manufacturing sector will face maximum unemployment (Due to FDI in Retail). Maximum products available will be from China. China will see growth in both manufacturing sector and employment." Sushma Swaraj Leader Of Opposition, Lok Sabha "FDI in multi-brand retail would be implemented only in cities with a population of ten lakhs and more. There are fifty three such cities. After we leave those cities that are located in states that are against FDI, we are left with eighteen states. You cannot oppose FDI implementation in states which support it." Kapil Sibal Telecom Minister "This environment is characterised by slow economic growth, high inflation, high interest rates, and a weak local currency, and we expect these factors to lead to a further deterioration in asset quality, an increase in provisioning costs, and a fall in profitability." Vineet Gupta Vice President, Moody's Investors Service