Headlines

Economic and Political Headline:

· According to DoT, mobile tariffs could fall by over 50% to about
40 paise per minute, with the implementation of new norms
such as usage of dual technology, number portability, and
allocation of spectrum to new players. (BS)

· The Finance Minister asked SBI to step up efforts for bringing a
large number of under-banked areas within its fold and also
increase its coverage of districts with substantial minority
population. (BS)

International News Headline:

· US retail sales growth slowed as expected during October, a
sign that the consumers were showing caution on the approach
to the holidays and an indication the overall economy would
weaken at the end of the year. Meanwhile, US wholesale prices
registered a slight gain in October, held down by a drop in
energy costs, though pipeline pressures intensified. (WSJ)

· OPEC ruled out any immediate hike in supplies to cool crude oil
prices that have neared 100 dollars a barrel but said it was not
comfortable with the spike and the rise in demand from China
and India was not to be blamed for it. (ET)