Current Affairs | Cabinet OKs FDI in Retail

November 30th, 2011 by | Posted under Current Affairs-News.

–India: Union Cabinet approved for 51% FDI in multi-brand retail. The move may open door for entry of MNC in retail business.
–Union Cabinet approved new Companies Bill. The new bill may give a chance to investors to file class actions suits in India. It was currently possible only in US.
–Food inflation slips to four-month low of 9%. The rising food prices were major concern for RBI.
–Ministry proposes 5% tariff on Chinese equipment. Industry fearing dumping of Chinese equipment in to India.
–Imports of Sensitive Items Up 42.2% in April-August.
–International: Six big US banks such as Bank of America, Citigroup, Goldman Sachs face stress test
–UK Economic Growth Accelerates in Q3 to 0.5%

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