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Markets at a glance
The markets staged a recovery after a steep correction during the first half of last week. The trading was characterised by bouts of sharp intra-day volatility, especially in the last three trading sessions. The BSE Sensex managed to cross the 16,000 level during the last sessions of the week. During the week, the Sensex rose 262 points or 1.65 per cent to 16,158, while Nifty rose 84 points or 1.79 per cent to 4,796. However, mid-caps outperformed the broader indices during the week, whereas small-caps underperformed. FIIs were net sellers initially, but started buying during the second half of the week.

FMC all set to get more teeth
Autonomy with more powers for the commodity futures market regulator, Forward Markets Commission (FMC), now seems certain with the Reserve Bank of India saying that futures trading cannot be held responsible for the recent spurt in essential commodity prices. This clearly means that futures trading is getting support from policy-makers — a fact that is likely to prompt the government to introduce the Bill granting more powers to FMC in the next Parliament session.

News of the day

BoB 7th largest foreign lender in UAE; HSBC on top
Public sector lender Bank of Baroda (BoB) is the seventh-largest foreign lender in the United Arab Emirates (UAE) with loans of $1.63 billion, while global banking major HSBC Bank leading the chart with $17 billion exposure.
Small Business

CFM Intl to set up training facility at Hyd airport

GMR Hyderabad International Airport Limited (GHIAL) has signed an agreement with aircraft engine manufacturer, CFM International (CFM), to establish a new CFM56 maintenance training centre to support its customers in the South Asian region. - GMR Hyd inks deal with CFM to build training centre - GMR-Malay Air arm to set up MRO unit - Hyd airport to set up engine maintenance centre with CFM - GE appoints John Flannery India CEO - Time Warner arm may invest in NDTV Imagine - T N Ninan: Picking winners">T N Ninan: Picking winners CFM International is a 50:50 joint venture between Snecma (SAFRAN Group) of France and General Electric Company(GE) of the United States. The agreement signed on Thursday cements a memorandum of agreement executed in January 2009. The training centre, which will commence operations by late January 2010, will be located in the GMR Aerospace Park, being developed in the exclusive 250 acre aviation SEZ, that forms part of the Rajiv Gandhi International Airport complex. The aviation SEZ was recently notified by the Union government. GHIAL will build the 1,000-square metre facility at a cost of Rs 5 crore and lease it to CFM.


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