Past Week

I missed out writing for this week, but the buzz in the India never stops.

1. Vodafone joins the foray along with Reliance communication and Maxis in a bid to take the fourth biggest telecom in India, Hutch-Essar. Vodafone, which already owns 10% stake in Bharati has already reached its cap stipulated by the telecom regulation. Vodafone seems to be moving from the saturated telecom market in European region to the promising emerging markets like India and China. It is to be noted that Vodafone has recently sold its 25% stake in Proximus, Belgium.

2.The new regulations from Thai government created ripples in its stock market, which was even felt in Indian bourses. The downfall of the Thai market was triggered when the Central Bank stipulated that 30% of new foreign funds will be locked-in for a year. The move came after the Thai Baht's appreciation during this year. The currency has appreciated close to 9.8% since January 2006 against USD. This appreciation means Thai exports turning out to be expensive to its buyers. But the Thai market recovered sharply after a day.