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Miners mulling cut in iron ore output
Shaken by a sudden halt in demand from China, Indian iron ore miners are planning production cuts.

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US, Brazil eat into Indian share of oilmeal exports
Oilmeal exports from India are falling due to higher prices and low quality compared to those from the US, Brazil and Argentina, which are offering better quality of soybean and rapeseed at lower prices. Exports are expected to come down by 15-20 lakh tonnes during 2009-10.

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Nifty key support at 5,000
The market opened weak and sustained selling pressure saw the benchmark indices, the Nifty and Sensex, lose their crucial support levels of 5,150 and 17,300, respectively. The spot Nifty closed at 5,094 while January futures closed at almost 10 points discount on profit-taking and short build-up.
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Dubai concerns not to impact India: Sharma

Notwithstanding the UAE being India"s top destination for exports, the government today put up a brave face stating financial concerns in Dubai would not impact the Indian economy and the country"s real estate sector. - Dubai crisis may not impact remittances: FinSecy - When does liaison office attract I-T in India? - Need to protect Indians in UAE from visa-related probs - Govt okays amendment to Air Agreement with Saudi Arabia - UAE may allow 100% ownership of businesses - Jet Airways suspends all its flights between UAE and India "I don"t think," said Commerce and Industry Minister Anand Sharma when asked whether the confidence erosion in Dubai would have ripple effect in India. Sharma said the Indian economy is large and "I don"t think developments in real estate sector in Dubai are going to impact it...Besides, the Indian real estate is doing well," he said. The UAE, which has a large Indian population, is the country"s largest export destination with shipments of about $24 billion in fiscal 2008-09. Asked whether exports to the Middle East could be impacted, Sharma told reporters, "I hope not." Most of the global stock markets tanked on concerns of the global impact of the crisis of confidence in UAE.


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