Flashback 2012: Key global, domestic events
The year 2012 will be remembered for many economic turmoils and hopes. India had its share of ups and down in issues ranging from rising inflation to depreciating rupee to a insipid 2G Auction
December 29, 2012 / 14:46 IST
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’ .
Gold at peak -Gold prices touched a life high of Rs 32975 per 10 grams on demand from retailers for the peak marriage season.
INR's new Low: The rupee hit all-time low of 57.33 per US dollar on sustained demand for the greenback by oil importers due to sharp fall in crude prices.
Coal scam: Notoriously known as Coalgate; it came into light after the
Comptroller and Auditor General (CAG) estimated that the losses due to doling out coal blocks for free amounted to Rs1.86 lakh crore.
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.
Emkay Global flash crash - On October 5, the NSE index Nifty saw a 900-point flash crash due to an error by Emkay Global Financial Services. The company's stock tanked 10% same day London Olympics- The British capital becomes the first city to host the event for the third time Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
