Gage: Sep 3, 2008

Wednesday, September 3, 2008

The third wave approach

The appreciation of the Indian rupee in recent months has caused grave concern to exporters, as they are finding it difficult to compete with countries like China, Korea and even Bangladesh in textiles. Despite statements of the Union commerce & industry ministry, Kamal Nath, exporters have ratcheted up their plea for cuts in bank lending rates. With the US Federal Reserve board announcing a 50-basis-point-cut in benchmark rates and setting off expectations in India of strong FII and FDI flows, the currency has breached the Rs 40 mark, hitting a nine-year high against the dollar. Exporters are in great agony over the impact of a weakening dollar on its earnings, but they should not bet on helpful interventions from the RBI, whose concerns are more basic.

Federation of Indian Export Organisation chief GK Gupta has said the cut in the US Fed rate would contribute to larger inflows from abroad as long as the RBI does not effect matching cuts in domestic interest rates.

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posted by gabriel98095 @ 9:49 AM 0 comments

Furniture trends from High Point

HIGH POINT, N.C. Furniture titans, cover girls, color forecasters, designers, magazine editors and a former butler to the British royal family gathered here earlier this month to buy and sell the latest home furnishing designs in 2,500 well-stuffed showrooms.

The twice-yearly wholesale market is an early heads-up about coming trends, previewing goods we'll be seeing in stores and online in the months ahead.

The event also provides a chance to check out which celebrity is putting his or her name on which new line of sectionals and beds.

Here are the highlights.

Star gazing

Former fashion model B. Smith, who owns three restaurants, was in High Point to introduce her second collection of furniture, inspired by her own houses on Central Park South and Sag Harbor.

posted by gabriel98095 @ 7:13 AM 0 comments

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