NEW DELHI: Fuel stockpiles at the thermal power stations hit a new low in 25 years at 7.2 million tonnes, as Coal India and its subsidiaries failed to meet their production targets, as per latest official data. According to latest data (October 13) by the Central Electricity Authority, total fuel stocks at 103 coal-based stations have come down to 7.2 million tonnes. This 7.2 million tonnes […]
New Delhi: Oil companies’ gains on diesel sales jumped 87 per cent within a fortnight on a historic slide in global crude prices. Their profits from diesel, recorded for the first time ever, continue as the government delays a decision on deregulating its price. “The over-recovery on high-speed diesel (HSD), applicable for the second fortnight effective October 16, is now Rs 3.56 per litre. The over-recovery […]
Asian stocks clawed back some of this week’s losses on Friday after a solid set of U.S. data calmed turbulence in global financial markets, though underlying worries about slowing world economic growth kept investors on edge. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS gained 0.2 percent, though it is likely to log its sixth straight week of losses with a fall of 0.5 percent so […]
NEW DELHI: The telecom regulator has proposed to set the base price of 1800 MHz band in the upcoming spectrum auctions at 10% more than the previous round, a recommendation that operators and analysts say is likely to hurt an industry that is laden with debt and facing an uncertain business environment. The Telecom Regulatory Authority of India (Trai) has suggested Rs 2,138 crore as the […]
NEW DELHI: To expedite infrastructure projects — road and rail — along the border with China for strategic reasons and also for better connectivity, principal secretary to Prime Minister has called a meeting of top officials of key ministries such as defence, rail and road, head of Border Roads Organization (BRO), national security adviser and others on Thursday. Sources said the agenda of the meeting to […]
The price of oil suffered its biggest drop in nearly two years earlier this week after the International Energy Agency reduced its forecast for demand for this year and next. Associated Press A slump in oil prices has eroded investor confidence in Persian Gulf stock markets, some of which are among the leading performers globally this year. The major oil-exporting states in the region such as Saudi […]
Dubai’s banks are extending loans to the local diamond industry, boosting the emirate’s ambitions of becoming a top trading hub as funding to rival Antwerp dries up. Emirates NBD PJSC. (EMIRATES), Mashreqbank PSC. (MASQ), and National Bank of Fujairah PJSC., are financing diamond cutters, polishers and traders operating on the Dubai Diamond Exchange for the first time, Peter Meeus, chairman of the exchange, said in an Oct. […]
Still haunted by its failed attempt to prevent a steep drop in oil prices by slashing production by almost three quarters in the 1980s, the world’s top oil exporter Saudi Arabia is determined not to make the same mistake again. The oil glut of the 1980s, the early days of the modern crude market and a distant memory for most traders, has resurfaced recently in conversations with […]
By S. Sethuraman A global economy, wobbling six years after the financial market crash of 2008, cannot need anything better than a firm commitment of the world’s financiers to build a more robust, sustainable, balanced, job-rich economic order. Global unemployment is at its all-time peak, especially in Europe and large parts of developing world. Finance Ministers of 188 nations met at the 2014 Annual Meetings […]
|By TAP Staff| Dubai-headquartered Transworld Group and NAWAH announced entering into a formal agreement to service Iraq’s growing demand for imports, linking their shipping, logistics, marine services and port capabilities. As part of their agreement, Transworld Group and NAWAH Port Management will team up to increase the flow of essential goods coming from the broader Middle East, Indian subcontinent, Far East and Southeast Asia into the historic […]
By BRIAN KNOWLTON October 12, 2014 WASHINGTON — Fighters for the Islamic State were managing to blend in with disenfranchised Sunni populations in some Iraqi towns and villages near the capital, raising the chances of militant attacks against targets in Baghdad, President Obama’s top military adviser said on Sunday. “I have no doubt there will be days when they use indirect fire into Baghdad,” the adviser, Gen. Martin E. […]
Iran will sell its oil to Asia in November at the biggest discount in almost six years, matching cuts by Saudi Arabia as global crude benchmarks slide deeper into a bear market. State-run National Iranian Oil Co. cut official selling prices of its crude to buyers in Asia for November, two people with knowledge of the pricing decision said yesterday. The decrease came a week after Saudi […]
By Ashok B Sharma India’s foreign trade has badly suffered since the beginning of the global financial crisis in August-September 2008 and the subsequent shock of the sovereign crisis in Eurozone added to the problem. Over dependence on markets in the developed countries was the cause for shrinkage in Indian exports. As the recovery in developed countries and increase in demand is slow, India should […]
By Ashis Biswas KOLKATA: There are no two opinions about it: unless the Indian government cracks down hard on the unholy nexus between the Trinamool Congress (TMC) and the Bangladeshi Jamat-e-Islami, India’s regional foreign policy objectives will be seriously compromised. The recent accidental explosion at a house in Khagraghar, Burdwan town, where Muslim extremists with Bangladeshi links had set up an explosive manufacturing centre and […]
By P. Sreekumaran THIRUVANANTHAPURAM: The crisis plaguing the Congress in Kerala over the Shashi Tharoor issue has deepened with the Kerala Pradesh Congress Committee, demanding in an un precedented move, ‘appropriate action’ against the high-profile MP from Thiruvananthapuram, for his frequent praise of Prime Minister Narendra Modi. Although the KPCC report has demanded appropriate action against Tharoor, it has not specified the kind of action it […]
An employee counts money at an exchange office in downtown Cairo. Reuters First the good news: Egypt’s foreign reserves ticked up to $16.87 billion at the end of September – enough to comfortably cover imports for more than three months as the country’s economy strengthens and foreign investors continue to buy Cairo-listed stocks. But the Arab country–slowly recovering from a tumultuous past few years that left its […]
By Nora Chopra While Narendra Modi has already held a number of rallies, the central leadership of the Congress is missing from action in both the states of Haryana and Maharashtra. Rahul began his campaign in Maharashtra on 8 October in Mahad in Raigad district and the second rally Ausa in Latur district. With these two rallies he has covered Konkan and Marathwada. He is supposed to […]
By Raju Kumar BHOPAL: Madhya Pradesh has joined the club of leading agricultural states because of its excellent performance in agricultural production. It has got awarded for it at national level. Three years ago the Centre had instituted Krishi Karman Award. MP has won this prize twice and it is likely to win it third time, because it has found place in the list of states […]
|By TAP Staff| The herd mentality on the UAE stock market is once again visible, with a flurry of new stock listings that could scupper the market’s nascent revival. Prospective companies do not seem to be in a mood to wait and want to go to the market ahead of others. The first IPO in five years came when Emaar Malls Group floated an issue and attracted […]
By Nantoo Banerjee Believe it or not, the half-a-million-employee-strong postal department of the government of India faces the biggest threat to its 150-odd years’ existence from no other than the world’s largest courier conglomerate, Deutsche Post AG, a $55-billion German behemoth. Already a victim of governmental apathy and the Narasimha Rao-Manmohan Singh-led 1991-92 reform that led to a massive overhaul of the then departments of posts […]
From Pradeep Kapoor LUCKNOW: In the name of memorial for late Prime Minister Charan Singh, various political parties are coming together to face the challenge from BJP in Uttar Pradesh. Much significance is being attached to Meerut rally on October 12 when Samajwadi party national president Mulayam Singh Yadav and his chief minister son Akhilesh Yadav and JD President Sharad Yadav could share same platform. […]
Video | Fighting Rages in Syrian Border Town President Recep Tayyip Erdogan of Turkey warned that the Syrian border town of Kobani might fall to Islamist militants as fighting intensified between Kurdish rebels and Islamic State fighters. By KARAM SHOUMALI and ANNE BARNARD October 7, 2014 MURSITPINAR, Turkey — President Recep Tayyip Erdogan of Turkey said Tuesday that the Syrian border town of Kobani, under siege from Islamic State fighters, was […]
IMF FORECAST: SELECTED MENA ECONOMIES Note: Data for some countries are based on fiscal years. 1Movements in consumer prices are shown as annual averages. 2Percent of GDP. 3Percent. 4Includes Bahrain, Libya, Oman, and Yemen. 5Includes Djibouti and Mauritania. Excludes Syria because of the uncertain political situation. IMF The International Monetary Fund has revised its 2015 economic growth projection downward for the Middle East and North Africa by […]
By S. Sethuraman The world economy is yet to make a full exit of the 2008 financial crisis and its recessionary aftermath, so that growth prospects for 2014, the sixth year, have had to be revised down, with the disappointing and uneven recovery, mainly among advanced nations. And geopolitical tensions in Eastern Europe and the Middle East, with limited impact so far, may hold greater risks […]
