Rupee off lows; no RBI hand seen
Reuters Market Eye - The rupee is off lows versus the dollar at 53.7050/7150, down from an earlier low of 53.78 in day's trade. Some selling by foreign banks on likely squaring-off of weekend positions pushes USD/INR off perch, dealers say.
Expect $30-35 bln equity dilution from Basel III - Macquarie
Reuters Market Eye - The RBI directives to meet Basel III regulations could lead to an equity dilution in banks of roughly $30-35 billion over the next five years, Macquarie says.
Facebook IPO values it at up to $96 biliion
Facebook aims to raise about $10.6 billion in Silicon Valley's largest IPO, dwarfing the coming-out parties of companies like Google and granting it a market value close to Amazon's . Full Article | Factbox
Cipla gains; CLSA says stock will 'outperform'
Shares in Cipla gain after CLSA upgrades the stock to "outperform" from "underperform", maintaining its 12-month price target at 360 rupees. Full Article | Sensex falters, led by banking stocks
Osama had disdain for Qaeda affiliates - letters
Osama bin Laden showed disdain for al Qaeda affiliates, fretted about his organisation's image and was deeply worried about its security, according to documents seized from his Pakistan hideout. Full Article
Usain Bolt may face surprise challenge in 100m
The triple Olympic champion could have an unexpected challenger when he runs his first 100m of the season on Saturday. Full Article
Latest Headlines
PETA offers Kingfisher vegan lift
One of the many benefits of vegetarianism, so animal rights activists say, is that it cures impotence. To that end, the global rights group PETA is offering a way to give flagging Kingfisher Airlines a lift. Full Article
Apple’s valuation isn’t at risk any time soon
Apple’s market capitalization is mind-boggling, but for such a fast-growing company, it trades at an absurdly low 12 times forecast earnings for the year to September. A new calculator shows why even cautious shareholders shouldn’t worry. Full Article
What happens if Hollande wins?
If Hollande does win, will he be able to inspire confidence and rebuild the fragile economy, with its heavy debt, stagnant growth and rising unemployment? Or will he preside over its rapid descent into Greek- or Spanish-style chaos, as Nicolas Sarkozy keeps warning? Commentary
Jannat 2: No paradise regained
Director Kunal Deshmukh borrows nothing from the original “Jannat”, except for his lead hero and the vague notion of a protagonist who seeks heaven on earth - mostly in the arms of a coy lady, writes Shilpa Jamkhandikar. Full Article