FASTTRACK Corporate

Mittal gets nod from key MTN shareholder

Posted: 2008-05-12 21:58:09+05:30 IST
Updated: May 12, 2008 at 2158 hrs IST

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: law passed by Parliament in December 2007 to ease him out.

* Markets

Just six trading sessions into May and investors have lost around Rs 2,82,202 crore on the BSE. The total BSE M-cap declined to Rs 58,23,116 crore on May 9,2008 from rs 61,05,317 crore on May 2. Major reasons behind the fall were concerns over inflation and its impact on corporate profitabilitiy. A ruling by US stock market regulator Securitites Exchange Commission making reporting norms stricter for companies and bringing more transparency to the derivative losses also added to the woe.

* International

Inflation is reemerging as a threat to economic stability after years of “quiescence,’’ and officials must be wary of policies that stoke consumer prices, the International Monetary Fund’s deputy chief said. “This inflation speed-up must be taken seriously as it creates potentially significant challenges to economic stability,’’ John Lipsky , the IMF’s first deputy managing director said....

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Mittal gets nod from key MTN shareholder

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