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Some of these won't work
China/Africa: Chinese growing investment in sub-Saharan Africa is both a huge global development and a short-term bubble. Both sides will benefit, but there may need to be some pain first. In 2008, China’s $106.8 billion bilateral trade with sub-Saharan Africa made it the region’s largest trading partner, surpassing the US’s $104.6 billion. The Africa-China trade is close to balanced, while Africa’s exports to the US, mostly raw materials, are worth five times as much as its imports.

Corporation Bank Q1 net up 42% at Rs 261 cr
Mangalore-based public sector lender, Corporation Bank, today reported 41.75 per cent rise in its net profit at Rs 261.25 crore for the first quarter ended June 30, 2009 compared to the corresponding quarter last year. Its operating profit for the quarter went up by 77.96 per cent year-on-year to Rs 571.24 crore.

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New-age devdas a senior citizen
Trinamool Congress MP Sudip Bandopadhyay has a fetish for shawls. During the winter session of Parliament, Bandopadhyay found many opportunities to show off his shawls that he wears in a trademark style.
Business Opportunities

BSE IPO Index rises 5% in first week of launch

The Bombay Stock Exchange"s (BSE) newly launched IPO Index, that tracks the value of companies for the first two years after listing on the bourse, rose by 5 per cent during the first week of its introduction. - Sensex follows Asian markets, up 200 points - Investor wealth erodes by Rs 2 lakh-cr in a day - BSE receives complaints against 228 listed firms - Sensex tanks 354 pts on monsoon woes - Bombay Stock Exchange Q1 profit at Rs 57.27 cr - Axis Bank plans to raise up to Rs 5k cr BSE IPO Index settled the week at 1,997.06 points, up 5 per cent compared to 1,901.67 points on August 21. At the end of trade on Friday, the total market value of the IPO Index stood at Rs 2,07,097.32 crore, a 3.9 per cent of the total market capitalisation of the bourse. On August 28, BSE"s total market value stood at Rs 5,312,180.77 crore. Anil Dhirubhai Ambani Group firm Reliance Power, the most valued scrip in the initial public offer index of the bourse, moved up 3 per cent to end close at Rs 161.15 last week. Mundra Port and Special Economic Zone that surged nearly 8 per cent to Rs 570.45 for the week ended August 28, while state-run Rural Electrification Corporation settled at Rs 210.90, up 4 per cent. The BSE barometer Sensex jumped 4.5 per cent during the week to close at 15,922.34 points on August 28. Last Monday, the Asia"s oldest bourse launched IPO Index to track values of firms for the first two years after listing on the bourse. Base date of index is May 3, 2004, whereas base index value has been fixed at 1,000 points. During the week, Adani Power rose 1 per cent to Rs 104.15. Billionaire Gautam Adani-led power firm got listed on stock exchanges on August 20. Since listing, Adani Power has gained 4 per cent on BSE. The issue of price of the company was Rs 100 a piece. The total market capitalisation of the firm on Friday last week stood at Rs 22,705.07 crore, making it the fifth most weighted scip in the BSE IPO Index. Rural Electrification Corporation (REC), in which the Government is likely to divest some of its holding through a follow-on public offer during this fiscal, advanced nearly 8 per cent to Rs 210.90. However, Powergrid Corporation slipped by 0.04 per cent to Rs 107.60. PGCIL holds a 15.88 per cent weightage in BSE IPO index, making it the most valued public sector firm in the index.


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