The Weekly Recap: 29th Dec-2nd Jan

The Weekly Recap: 29th Dec-2nd Jan
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First Published: Mon, Jan 19 2009. 01 08 PM IST

Updated: Mon, Jan 19 2009. 01 08 PM IST
2008 refused to go away quietly.
Sri Lankan troupes enter Kilinochchi- the Tamil Tiger rebels headquarters on Friday in what is being called a bitter blow to the LTTE or Liberation Tigers of Tamil Eelam. The military operation to take the separatist stronghold started in September in which thousands men have lost their lives on either side.
Closer home it was a distressing beginning of the New Year in Assam with low intensity blasts killing 5 people and injuring at least 60. The blasts occurred on the expected route that Home Minister P Chidambaram was to take while visiting Guwahati.
The National Conference and Congress formed a new coalition government in J&K after a record turnout for Assembly polls. Omar Abdullah would be taking oath as the chief minister of Jammu and Kashmir on 5th January. The thirty-eight-year-old Omar will become the state’s youngest chief minister.
In a move to ease the liquidity pressure the Reserve Bank on Friday cut Cash Reserve Ratio by 0.50 percentage point to five per cent. It also cut repo and reverse repo by 100 basis points each to 5.5% and 4%, respectively.
The government eased foreign borrowing rules for firms in the infrastructure and real estate sectors, and raised the foreign investment limit in corporate bonds to 15 billion dollars in its second fiscal stimulus package. This would take place over the next two years to ensure the banking system does not suffer from capital adequacy constraints.
And Hyundai’s premium hatchback - i20 comes to India with as many as six airbags for that extra safety.
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First Published: Mon, Jan 19 2009. 01 08 PM IST