MTECHTIPS

MTECHTIPS:-(A)India:
1. The  TRAI on Monday suggested a base price that ranges between Rs 3,622 crore and Rs 14,480 per megahertz of airwaves. If these recommendations are accepted, the Government can hope to rake in at least Rs 7 lakh crore by 2014 by selling various chunks of spectrum bands.
2. Food inflation in March stood at a five-month high of 9.94 per cent. And, food prices are unlikely to decline in the next six months, due to factors ranging from increasing demand to production shortfall, especially of vegetables.
3. Wholesale price-based food inflation stood at 6.07 per cent in February. It had seen deflation a month earlier. The rate of price rise for vegetables rose to 30.57 per cent in March from 1.52 per cent in February.
4. The government has invoked special powers under the Electricity Act and directed the central and state regulators to implement a long-pending reform to allow industrial consumers to buy cheaper power from the open market.
5. The cabinet approved raising voting rights of stakeholders in private banks to 26% from 10%, Information and Broadcasting Minister Ambika Soni said on Thursday, in a long-awaited boost for the banking sector. "The cabinet has cleared banking laws (Amendment Bill 2011)
.(B)World:
1.China's manufacturing activity contracted further in April, although the sector improved from levels seen in March, a preliminary reading from HSBC showed Monday. HSBC's so-called flash PMI rose to 49.1 in April, compared with a final 
reading of 48.3 in March.
2. Australia's producer price index fell 0.3% in the first quarter of 2012, the Australian Bureau of Statistics reported Monday. On an annual basis, PPI rose 1.4%.
3. In Germany, business confidence unexpectedly rose to a nine-month high in April. The Ifo institute's business climate index, based on a survey of 7,000 executives, increased to 109.9 from 109.8 in March.
4. Markit economics reported that Euro area index based on a survey of purchasing managers in manufacturing and services fell to 47.4, a five-month low, from 49.1 in March
5. Australian consumer prices rose 0.1% in the three months to the end of March, the Australian Bureau of Statistics reported Tuesday.
6. US Commerce Department data showed sales of new U.S. homes falling 7.1% in March, though the drop was due to a revision higher for February.
7. The FOMC of the Federal Reserve is now meeting to discuss monetary policy. The meeting concludes early Wednesday afternoon with a statement from the FOMC and a press conference from Fed Chairman Bernanke. The commodities are expected to be volatile ahead of this statement.