Finance Review

Archive for July, 2009

Among the standard should channels among subscribers of cable services or satellite TV that are referred to some local as well as international news is Fox News. This news really lives up to its motto, we release you choose , while reporting events that occur as objective as humanly possible (except the occasional editorial piece). Reporting on anything and everything under the sun that is of general interest to most of their vision and listening to the public, national news, news international, the local news, business and finance, politics, entertainment, sports, and just about everything that needs to be disclosed publicly.

Thanks to the penetration of the Internet, you do not even have to stand in front of their television in the country to be able to get the latest news from the world leader in reporting the news. Enter the sites you visit to Fox News live feed, of course, is the Foxnews site! You just directed your browser to the site and choose among the many options available, including streaming video feed live slightly behind Fox News that you would normally on the television screen. Unfortunately, Fox News decided to stop this very useful power to the detriment of millions of Internet users who had no access ninguÌ No cable or satellite TV. Alternatively poor, clicking the button of the videos from the web site, you have the option to view various multimedia files from various issues of interest in your convenience.

In January, Fox News introduced a new service that allows anyone with a cell phone in the United States have access to a live audio feed of Fox News in there. The monthly subscription fee for this service is $ 2.99. Additional per minute charges for this service applies. While this is a good alternative for news, and has caught some interest still missing color which is where the video will be shown together with the news audios.

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Finance Minister Pranab Mukherjee allayed fears that high Government market borrowing, pegged at about Rs 4 lakh crore, for the current fiscal will leave little resources for the private sector.

Just as the Reserve Bank managed market borrowings of the Government, which increased after the stimulus packages were announced last fiscal, without disrupting markets, similarly it will handle it this fiscal, Mukherjee told reporters after his customary post-budget meeting with the RBI board.

The Government’s borrowing is projected to be around Rs 4 lakh crore for this fiscal to fund its widening fiscal deficit pegged at 6.8 per cent of GDP.

Many fear that the high borrowing will crowd out or leave little money for the private sector to raise from the market.

Asked whether interest rate will be cut he said, appropriate actions would taken as and when required.

The Employees’ Provident Fund Organisation (EPFO) decided to give 8.5 per cent interest on provident fund deposits of 4.5 crore subscribers.

The decision to recommend 8.5 per cent interest rate, the same as the last fiscal, to the Finance Ministry was taken by EPFO’s Central Board of Trustees (CBT).

The CBT, the apex policy making body of EPFO, decided to retain the interest rate at the existing level at a meeting which was chaired by Union Labour Minister M Mallikarjun Kharge.

Payment of 8.5 per cent interest rate on provident fund deposits, which are of the order of Rs 1.82 crore, is expected to leave a surplus of Rs 6.4 crore during the current fiscal.