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Sensex ends up 35pts
The Sensex has ended (provisional) at 16,393 - up 35 points. The Nifty ended (provisional) at 4,916 - up 34 points.

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Bank provisioning norms remain reactive, says BIS
The financial supervisors in Asia have tightened the norms to make provisions for non-performing loans after the crisis hit many countries in late 1990s. But the provisioning stance still remained reactive to shifts in the business cycle, according to a Bank of International Settlements (BIS) study.

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Markets at a glance
Gains in global markets and foreign buying helped Sensex move past 17,000 mark after 15 months. In a truncated week, BSE Sensex rose 440 points or 2.6 per cent to 17,135 and Nifty rose 125 points or 2.5 per cent to 5,083. Broader indices performed better than BSE Midcap and BSE Smallcap indices, each delivering 1.2 per cent and 1.8 per cent, respectively. The market was buoyed by IMF"s statement that India’s GDP would grow at 6.4 per cent for CY09 and that the world economy would contract less than expected.
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Viacom's Q2 profit falls 32% as sales slide

Viacom Inc today said that its second-quarter profit tumbled 32 percent as revenue fell amid a weak advertising market, slower video game sales and lower box-office results. - Ford Motor drives into $2.3 bn Q2 profit - Johnson & Johnson Q2 profit dips to $3.2 bn - Goldman Q2 profit surges 65% to $3.44 bn The New York-based media conglomerate controlled by billionaire Sumner Redstone earned $277 million, or 46 cents per share, compared with $407 million, or 65 cents per share, in the same quarter last year. Excluding 3 cents per share in severance charges, adjusted earnings were 49 cents per share in the latest quarter. On that basis, earnings beat analyst expectations by a penny per share,according to a Thomson Reuters survey. Revenue slipped 14 per cent to $3.3 billion, missing analysts"estimate of $3.5 billion. Revenue at the company"s media networks segment slid 8 per cent to $1.97 billion, due in part to slower sales of Viacom"s "Rock Band" video game. Domestic ad revenue dropped 6 percent and international advertising was down 8 per cent. In the Viacom"s filmed entertainment unit, which includes the Paramount Pictures movie studio, box-office results for "Star Trek" and "Transformers: Revenge of the Fallen" fell short of last year"s releases. Theatrical revenue dropped 27 percent to $584 million, while home entertainment fell 29 per cent to $435 million. TV licensing fees climbed 5 per cent to $314 million.


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