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Sloane Robinson ups stake in Indiabulls Real Estate to 5.42%
Foreign fund house Sloane Robinson LLP has hiked its stake in Indiabulls Real Estate to 5.42 per cent through open market share acquisition.

Lisbeth Salander returns
The late Swedish journalist/author Stieg Larsson was the man behind Lisbeth Salander — the undeniably twisted and talented female protagonist of his “Millennium” trilogy. The second part in the series, The Girl Who Played With Fire, translated from Swedish by Reg Keeland, continues from where the first book left off — asocial heroine Salander once again back to her punch-throwing, expert computer hacking ways that she honed as a former security analyst in Stockholm, spinning yet another edge-of-the-seat crime thriller. Interestingly, Larsson’s father Erland Larsson, while receiving an award for his late son last year, revealed in an interview that the character of Salander seems to have been inspired by his son’s niece Terese, to whom the author had been very close.

News of the day

Haryana Finance Corporation told to refund money
The Supreme Court (SC) last week asked the Haryana Financial Corporation to refund the amount received from a buyer of a defaulting unit as it had not disclosed certain vital facts to the buyer. The corporation had forfeited the amount when the buyer withdrew from the contract of sale. The SC stated in the case, Haryana Financial Corporation vs Rajesh Gupta, that a “mere perusal of the provisions of the Transfer of Property Act will show that it was incumbent upon the corporation to disclose to the buyer about the non-existence of an independent passage to the unit. It was also the duty of the corporation to inform the buyer that the passage mentioned in the revenue record was not fit for movement of vehicles. The corporation also failed to show the buyer the entire documentation as required by law.”
Corporate

Indian economy grows by 6.1 pc in Q1, against 7.1% a year ago

The country managed a reasonable economic growth of 6.1 per cent during the first quarter of the current fiscal despite the global financial crisis impacting manufacturing and certain services like hotels. - Japanese industrial output up 1.9 % in July - Going against the crowd - Economy will clock 6% plus growth rate this fiscal: FM - UK economic contraction slows; GDP falls 0.7% in Q2 - "Russian IT market expands by 1.5 times in two years" - Arvind Singhal: India"s agriculture challenge The Gross Domestic Product (GDP) growth rate during April-June 2009 at 6.1 per cent was higher than 5.8 per cent in the previous quarter, though it witnessed a decline when compared to 7.8 per cent economic expansion recorded during the corresponding period of the last fiscal. The government and Reserve Bank have been maintaining that the Indian economy will grow by six per cent growth with upward bias. If agriculture growth does not crash and this trend continues, growth this fiscal would be in line with the expectations of the authorities. Mining and electricity among industrial sector, and financing among services sector posted higher growth of 7.9, 6.2 and 8.1 per cent, respectively, in the first quarter of this fiscal, against 4.6, 2.7 and 6.9 per cent a year ago. Construction and community services also managed good growth of 7.1 and 6.8 per cent against 8.4 and 8.2 per cent, respectively. However, agriculture and manufacturing expanded at a slower rate of 2.4 and 3.4 per cent against three and 5.5 per cent, respectively. Growth in services like hotels, trade, transport and communication was significantly lower at 8.1 per cent against 13 per cent.


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