Greece has said it will raise the retirement age.

Greece has said it will raise the retirement age and have civil servants take bonus cuts, among other measures. Federal Reserve Chairman Ben Bernanke told Senators on Thursday that the central bank is looking into whether Goldman Sachs and other big banks worsened Greece's debt crisis. The number of Americans filing new claims for unemployment jumped last week to 496,000 from a revised 474,000 the previous week. Economists surveyed by Briefing.com expected 460,000 new claims. Claims have jumped 12% over the past two weeks, due in part to the impact from the severe winter storms on the east coast. Durable goods orders rose 3% in January, the biggest increase since last summer and better than the 1.5% jump forecast by economists. Orders rose 1.9% in the previous month. Asian stocks advanced, driving the MSCI Asia Pacific Index higher for the first time in three days, as earnings at banks and retailers overshadowed declines by technology companies. Core sector growth was 9.4% in January 2010. The government has accepted recommendations of the 13th Finance Commission, which called for greater share of states in central tax proceeds, despite strains on its finances. Economy likely to grow by up to 8.75 per cent in 2010-11 and full recovery and return to 9 per cent growth is likely in 2011-12.
Food inflation fell to 17.58 per cent for the week ended February 13 as the prices of pulses and vegetables eased during the week. The government has said that the worst is over and prices of various essential commodities like pulses, sugar and vegetables have started declining - a trend that will continue. New procedures for approval of highway projects under the NHDP affected its bankability, resulting in award of barely 13 per cent of the target during 2009-10, the Economic Survey has said. Led by power and roads & ports, the net bank credit to the infrastructure sector has nearly trebled to Rs 64,321 crore during the first eight months of the current fiscal, over April-November 2008-09, as per the Economic Survey. The Indian Pharmaceutical industry has become the third largest in the world in terms of volume and ranks 14th in terms of value at over Rs 1 lakh crore, the Economic Survey has said. Mobile phone users will be able to access 3G technology post September 2010.
Cadila Healthcare to issue 1:2 ratio bonus shares. Ranbaxy Laboratories and its Japanese parent Daiichi Sankyo's proposal to unveil a three-year plan for exploiting synergies in operations to enhance their generic and branded business worldwide has been delayed by two months. UBI issue has been subscribed 33 times. Sterlite Technologies has received shareholders' nod for issue of bonus shares (1:1) and sub-division of shares. Nalco has said that it has laid out a Rs 50,000-cr expansion plan spread over the next 8-9 years. Jaguar Land Rover (JLR) has obtained a £340-million loan from the European Investment Bank (EIB). Sundaram Edusys, a wholly owned subsidiary of Sundaram Multi Pap, has launched “Sundaram e-class”, an innovative product based on virtual classroom technology for students of 8th, 9th and 10th standards of Maharashtra SSC Board in English and Marathi medium. RBI pulls up Bank of Rajasthan for a string of violations like deletion of records and irregularities in the conduct of accounts, etc. Bharti Airtel may issue fresh shares or divest its holding in telecom infrastructure companies to lighten the burden of debt from Zain acquisition. Bharti Airtel’s long-term forex rating has been downgraded by Fitch Ratings. Reliance Infra consortium bags Worli-Haji Ali sea link project. Ranbaxy in black with Rs. 262 cr net profit. Nifty March contracts ends the Day nearly unchanged at a marginal premium of 3.40 points adding OI by 22.3%. Nifty OI PCR at 1.135 compared to 1.075 at the close of last Day. Nifty puts sees addition of 9.70 Lakhs and calls sees paring of 8.67 Lakhs over the day. Highest OI in Nifty calls seen at 5100 Mar strike and puts at 4800 Mar strike. Nifty sees 69.91% rollover compared to 76.53% in Jan. Nifty rollover is lower by 137870 ( - 23.95%) no of contracts compared to January expiry. Market wide rollover at 83.1% compared to 82.61% in Jan expiry and 3 month average of 63.14% and six month average of 61.57%.