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Political hardsell shortage
Is the Doha Development Round (DDR) dead, as the anti-globalisation activists claim? Not yet, said trade ministers of the 153 member-countries of the Word Trade Organisation at the seventh Ministerial Conference at Geneva last week. They ended the Conference with a general agreement to recommence the stalled negotiations of the DDR and take it to conclusion by the end of next year. Even such broad agreement was in sharp contrast to the acrimony and bitterness that characterised the earlier failed trade talks at Cancun and Hong Kong.

FIIs expect a strong pullback
The Nifty closed in a Doji pattern on the last day of this month’s expiry today, indicating continuation of indecisiveness in the next series. Global cues are strong and hence the Nifty is likely to trade above 4,800 with strong support at 4,820.

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3Idiots may pinch as producer seeks higher ticket prices
The Aamir Khan-starrer 3Idiots is the most-awaited Bollywoood film of 2009. Producer Vidhu Vinod Chopra is banking on this to bargain for an exceptionally good financial deal.
Corporate

Drought may restrict growth rate to 5.5%: Plan panel

A severe drought has the potential to restrict the country"s economic growth to 5.5 per cent, the Planning Commission has said. - Economy grows by 6.1% in Q1, vs 7.8% yr ago - Japanese industrial output up 1.9 % in July - Indian economy grows by 6.1 pc in Q1, against 7.1% a year ago - Leave coal prices to market, allow free trade: Plan panel - FY09 growth may slip to 6.2% amid drought threat: Moody"s - PM says, corruption hurting eco growth, investments "In the worst case scenario of farm sector GDP declining by 6.0 per cent, overall GDP could be limited to 5.5 per cent," said a note on the current economic scenario prepared ahead of the meeting of the full Planning Commission to be chaired by Singh. In case the damage to the farm sector remains limited, as is anticipated, the economic growth rate would slip to 6.3 per cent from 6.7 per cent recorded during the last fiscal. The projection of 6.3 per cent growth rate for the current fiscal is based on the assumption of 2.5 per cent decline in farm sector output due to drought conditions. Planning Commission"s projections come just a day before Prime Minister Manmohan Singh is slated to review the state of the economy at a full plan panel meet. The Central Statistical Organisation (CSO) today released the growth data for the first quarter of the current fiscal (April-June 2009) revealing deceleration in economic growth to 6.1 per cent from 7.8 per cent during the corresponding period last fiscal.


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