Wed, Feb 27, 2013 at 16:16
POPE-RESIGNATION-SPEECH:Emotional Pope bids farewell "with profound serenity"
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Emotional Pope bids farewell "with profound serenity"
POPE-RESIGNATION-SPEECH:Emotional Pope bids farewell "with profound serenity"
Like this story, share it with millions of investors on M3
Emotional Pope bids farewell "with profound serenity"
POPE-RESIGNATION-SPEECH:Emotional Pope bids farewell "with profound serenity"
VATICAN CITY (Reuters) - Pope Benedict bade an emotional farewell at his last general audience on Wednesday, saying he understood the gravity of his decision to become the first pontiff to resign in 700 years but he had done it for the good of the Church.
"I took this step in full awareness of its gravity and rarity but also with profound serenity of spirit," he told a packed crowd in Saint Peter's Square.
He said he was not "coming down from the cross" despite renouncing his office but would remain in the service of the church through prayer. He asked the faithful to pray for the cardinals and whoever they chose as his successor.
(Reporting By Phillip Pullella; writing by James Mackenzie, editing by Barry Moody)
highlights
- No hike in passenger fees by Railways
- Railways propose hike in Reservation fee, Tatkal charge
- Freight rates to go up by 5.8%
- Railways to launch 67 new express trains, 26 new passenger trains
flashes
- Economic Survey in favour of widening tax base and prioritising expenditure
- WPI inflation may decline to 6.2-6.6% in March
- Indian economy likely to grow at 6.1-6.7% in FY14
- FY13 GDP growth seen at 5%
InterpretationS
- Railway minister has done a commendable job in meeting competing demands of improving services and controlling expenditure: PM
- It is a reformist and forward- looking Budget: PM
- If you look at the overall Budget, it was relatively muted and there was nothing exciting and no steps were taken, which would make the market happy: ICICI Direct
- There is no major capex from the civil construction on the freight corridor, though some investments are coming on the metro side: KEC International
SECTOR IMPACT
Select Sector to see impact
- Cement - Major
- Infrastructure - General
- Mining/Minerals
EXPECTATIONS
expectation on: People
Saurabh Mukherjea
Head of Equities | Ambit Capital
expectation on: Markets
Ridham Desai
MD and Head Of India Research | Morgan Stanley
expectation on: Markets
Ashok Wadhwa
Group CEO | Ambit Holdings
expectation on: Business
Laurent Dhaeyer
MD | Ogone Asia and EBS
expectation on: Markets
Rajesh Iyer
Head Investments & Family Office | Kotak Wealth Management
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