Weekly News: 1 st Nov – 7 th Nov, 2010 Compiled by: Taranpreet Kaur Mba-2(A)

Forbes names Bill Gates 'Most Powerful Man in technology' Bill Gates has been listed as the most powerful man in the technology world by Forbes. Bill Gates has been listed as the most powerful man in the technology world by Forbes. The founder of Microsoft, Gates has been named the 10th most powerful man in the world, ahead of the likes of Rupert Murdoch, Hillary Clinton and Steve Jobs. The founder of Microsoft, Gates has been named the 10th most powerful man in the world, ahead of the likes of Rupert Murdoch, Hillary Clinton and Steve Jobs. Forbes has praised him for his work in coaxing 40 of the world's richest people to pledge the majority of their wealth to charities and good causes. Forbes has praised him for his work in coaxing 40 of the world's richest people to pledge the majority of their wealth to charities and good causes. Apple's chief Steve Jobs is recognised by Forbes for his "insane" creativity and ability to "transform multi- billion dollar industry every few years" with his latest must-have devices, such as the iPhone and iPad. Apple's chief Steve Jobs is recognised by Forbes for his "insane" creativity and ability to "transform multi- billion dollar industry every few years" with his latest must-have devices, such as the iPhone and iPad.

Microsoft's CEO Ballmer sells 12% stake Microsoft Corp Chief Executive Steve Ballmer sold $1.3 billion worth of shares in the company, cutting his stake by about 12 per cent, and said he will sell more shares by year end, in a move to diversify his investments and plan for taxes. Microsoft Corp Chief Executive Steve Ballmer sold $1.3 billion worth of shares in the company, cutting his stake by about 12 per cent, and said he will sell more shares by year end, in a move to diversify his investments and plan for taxes. Ballmer sold 49.3 million Microsoft shares in the last three days, at prices between $26 and $28 per share. Ballmer sold 49.3 million Microsoft shares in the last three days, at prices between $26 and $28 per share.

Markets expected to move up further with FII inflows The stock markets had a spectacular rally last week and closed at an all-time high level. The stock markets had a spectacular rally last week and closed at an all-time high level. The main trigger for the market rally was the US Federal Reserve's announcement of USD 600 billion in quantitative easing to provide a boost to the US economy. The main trigger for the market rally was the US Federal Reserve's announcement of USD 600 billion in quantitative easing to provide a boost to the US economy.

A sizeable part of this quantitative easing will flow into emerging markets as part of hedge fund and foreign institutional investor (FII) investments. A sizeable part of this quantitative easing will flow into emerging markets as part of hedge fund and foreign institutional investor (FII) investments. Therefore, emerging markets are expected to remain strong over the medium term. Therefore, emerging markets are expected to remain strong over the medium term.

Obama to ease US-India export controls, boost trade President Barack Obama will announce the easing of US controls on exports to India in a move to boost trade between the two countries. President Barack Obama will announce the easing of US controls on exports to India in a move to boost trade between the two countries. Outlining a series of measures to ease export controls, imposed after India's most recent nuclear test in 1998, Froman said the president will also support Indian membership of four key global nuclear nonproliferation regimes. Outlining a series of measures to ease export controls, imposed after India's most recent nuclear test in 1998, Froman said the president will also support Indian membership of four key global nuclear nonproliferation regimes.

Deals include previously announced transactions involving General Electric for aircraft engines and gas turbines, and Boeing for 737 passenger planes. Deals include previously announced transactions involving General Electric for aircraft engines and gas turbines, and Boeing for 737 passenger planes. But details on a key $4.5 billion sale by Boeing of C- 17 military transport planes were still being ironed out. But details on a key $4.5 billion sale by Boeing of C- 17 military transport planes were still being ironed out. Obama will remove almost all of the remaining Indian defense and space organisations from a list of entities maintained by the US government to curb proliferation, and relax so called dual-use rules for Indian firms that regulate technology with both civil and defense applications. Obama will remove almost all of the remaining Indian defense and space organisations from a list of entities maintained by the US government to curb proliferation, and relax so called dual-use rules for Indian firms that regulate technology with both civil and defense applications.

India gets world's tallest statue at Shimla Just on the outskirts of Shimla, a giant 108 feet high idol of Hanuman (the Monkey God) was unveiled at Jakhoo Hanuman temple, overlooking the entire city. Just on the outskirts of Shimla, a giant 108 feet high idol of Hanuman (the Monkey God) was unveiled at Jakhoo Hanuman temple, overlooking the entire city. It is deemed to be world's tallest statue at 108 feet at the highest altitude of over 8100 feet and constructed at a cost of Rs 1.5 crores. It is deemed to be world's tallest statue at 108 feet at the highest altitude of over 8100 feet and constructed at a cost of Rs 1.5 crores. It surpasses the current tallest statue of 'Christ the Redeemer', which measures at 98 feet and stands at an altitude of 2296 feet in Rio de Janeiro, Brazil. It surpasses the current tallest statue of 'Christ the Redeemer', which measures at 98 feet and stands at an altitude of 2296 feet in Rio de Janeiro, Brazil.