Profitloss Centerstage Events

In a first, India today further liberalized Foreign Direct Investment norms, permitting 100 per cent FDI in special economic zones takes the centerstage among all global events which has happened over this week.
Picture Courtesy: Profit loss

Centerstage events of week 1

In a first, the US government acknowledges that it mismanaged...

In a first, the US government acknowledges that it mismanaged $500 million in trust accounts for Native Americans over the past 113 years. However, officials assert that U.S. District Judge Royce Lamberth exceeded his jurisdiction by mandating a complete audit of the funds and taking on the role of reform overseer. Lamberth has also held two Cabinet secretaries in contempt. The government is challenging Judge Lamberth's December verdict in a four-year-old lawsuit initiated by Native Americans, who believe they are owed more than $10 billion due to the mismanagement. A three-judge federal appellate court panel is scheduled to hear arguments on Tuesday.

Monday, 4 September, 2000

The United Nations Millennium Summit begins with more than 180...

The United Nations Millennium Summit begins with more than 180 world leaders present. The event is in New York City.

Tuesday, 5 September, 2000

Three United Nations' staffers are killed in a mob attack...

Three United Nations' staffers are killed in a mob attack in West Timor today.``Our three international staff in Atambua (in West Timor) were killed,'' a spokesman for the U.N. High Commissioner for Refugees (UNHCR) was quoted as saying in Dili, the capital of East Timor.

Wednesday, 6 September, 2000

As part of Japan's bid to obtain a seat on...

As part of Japan's bid to obtain a seat on the United Nations Security Council, Prime Minister Yoshiro Mori suggested raising the number of both permanent and non-permanent members. During his address at the U.N. Millennium Summit on Thursday, Mori also proposed granting permanent membership to developing nations.

Thursday, 7 September, 2000

Today, a group of International Monetary Fund (IMF) representatives, led...

Today, a group of International Monetary Fund (IMF) representatives, led by Ms. Sena Ekin, the Assistant Director for West Asia, arrived in Pakistan to initiate discussions with the military Government regarding a potential "bail-out loan package." The team will evaluate the state of Pakistan's economy and make recommendations based on the report of the advanced team of the Fund, which has been in Pakistan for the past month. The purpose of the visit is to determine the appropriate financial assistance required to stabilize the Pakistani economy. The IMF team will engage in extensive discussions with the military Government to assess the current economic climate and devise a plan that will effectively address the country's financial challenges.

Friday, 8 September, 2000

In a first, India today further liberalised Foreign Direct Investment...

In a first, India today further liberalised Foreign Direct Investment norms, permitting 100 per cent FDI in special economic zones and some telecom sector activities.

Saturday, 9 September, 2000

To bolster its market-making capabilities, Goldman Sachs Group Inc. announced...

To bolster its market-making capabilities, Goldman Sachs Group Inc. announced on Monday its intention to acquire Spear Leeds & Kellogg LP for $6.5 billion, to be paid in a combination of cash and stock. The agreement involves the issuance of $4.4 billion worth of Goldman Sachs common stock (equivalent to 34 million shares) and a cash payment.

Sunday, 10 September, 2000