Flashback 2012: Key global, domestic events

The year 2012 will be remembered for many economic turmoils internationally. India also had its share of ups and down in issues ranging from rising inflation to depreciating rupee to a damp 2G Auction. Here's a snapshot of the key events that took place globally in 2012.

Budget 2012 - Pranab Mukherjee presented his last Budget as finance minister. No major measures were announced.

Facebook Goes Public - Mark Zuckerberg's social networking creation went public.

USL-Diageo deal- Diageo, the world's largest spirits maker, agreed to pick up a majority stake in Vijay Mallya group's USL through a multi structured deal.

Kingfisher Grounded: Vijay Mallya's ailing carrier remained in the news since September 2012 for non-payment of dues to staff, shutting down operations and periodic revival plans.

Fuel Price Revision - LPG cylinders capped to six per household per year, diesel price hiked and the excise duty on petrol cut.

India Downgraded - S&P lowered the outlook of Indian economy to nagative from stable. In June Fitch downgraded outlook of 8 banks from ‘stable’ to ‘negative’ .

Obama Wins US elections: President Barack Obama reelected as President of the United states by defeatined Republican challenger Mitt Romney

Greece Bailout: Greece secured multiple bailout packages to help stave off bankruptcy

GMR -Maldives face off: Maldives cancelled a $511-million international airport development deal with GMR. GMR wants USD 1.1 billion in compensation

2G Spectrum Auction:The government's 2G spectrum auction fell short of its targeted INR 400 billion (US$7.3 billion) mark.