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By S. Sethuraman Entering the sixth month post-bifurcation, Telengana and the truncated Andhra Pradesh are still in such unsettled conditions that governance and credibility are at a discount in the new State of Telengana while Seemandhra, battered recently by a super-cyclone, faces baffling problems of land acquisition for capital-building and fiscal management.   Both states are in massive budget deficits and have vainly looked to the Centre […]

By G. Srinivasan The Modi Government is overly obsessed head over heels with economic reforms  so much so that even before the results of the Maharashtra and Haryana Assembly elections were out, it announced the decontrol of diesel price and a higher price for natural gas. These are the boldest reform strokes the stakeholders had been crying for that hold out the desirably salutary and intended impact […]

NEW DELHI: Life Insurance Corporation of India, the country’s largest insurer, will consider increasing its holding in companies in which the government plans to sell shares this year, possibly up to the 15% limit allowed.   LIC, which is also the country’s largest investor, is expected to invest about Rs 55,000 crore in the equity markets this financial year, up from about Rs 51,000 crore in 2013-14. […]

New Delhi: In a bid to take advantage of the bullish stock market sentiment, the finance ministry has kicked off the exercise to cut government stake in public sector banks to 51% and enable them to raise fresh capital to meet their growth requirements. Sources told TOI that the ministry has moved a cabinet note as the government is keen that banks are well capitalized to meet […]

NEW DELHI: Private-sector power plants with a combined capacity of over 1 lakh MW, including plants of 36,500 MW that have been deprived of their captive coal blocks thanks to a recent Supreme Court verdict will get “firm coal linkage” if the Cabinet approves a plan put forth by the power ministry.   Pooling of domestic (Coal India) and imported coal will be done to ensure these […]

NEW DELHI: ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, on Tuesday signed an agreement to pick an up to 50 per cent stake in PetroVietnam’s two exploration blocks in the South China Sea.   OVL will take a 40 per cent stake in Block 102/10 and 50 per cent in 106/10 that lie outside the sea territory claimed by China. PetroVietnam, […]

Mumbai: In the first big boost to the government’s “Make in India” initiative, aimed at making India a manufacturing hub, Airbus Defence and Space and Tata Advanced Systems (TASL) on Tuesday announced a joint bid for a government contract to supply military aircraft for the Indian Air Force (IAF). The IAF is looking to replace its fleet of Avro aircraft and the joint venture will supply Airbus’ […]

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Look at computer models for the Venice-like Arabian Canal proposed for central Dubai, or the plans for the world’s biggest shopping mall, and it seems as if the collapse of the United Arab Emirates real estate market six years ago never happened. Citibank estimated earlier this year that there were already two thirds of a trillion dollars worth of construction projects underway in the UAE. That was […]

Iraqi Kurdish peshmerga fighters are headed to Kobani to help Syrian Kurds who have been fighting Islamic State militants since September for control of the town just south of the Turkish border. Saleh Moslem, co-chairman of the Kurdish Democratic Union Party (PYD), told Reuters that some peshmerga fighters were expected to arrive in Kobani late Tuesday. Kurdish officials said 80 fighters, equipped with artillery and machine guns, […]

NEW DELHI: The NDA government has finally taken the first step towards formulating a policy for hydropower projects on the Ganga — Alakananda and Bhagirathi rivers —in Uttarakhand.   Water resources minister Uma Bharti informed the National Ganga River Basin Authority on Monday that a committee comprising officials of the environment and water resources ministry had been asked to review the reports of three committees dealing with […]

|By TAP Staff| International Monetary Fund  is pleased to note the moderation in the prices of  Dubai’s properties, a senior IMF official said. The IMF has previously warned that rapid rises in Dubai real estate prices, which earlier this year were in some cases a third higher than they were 12 months previously, could lead to another bubble and then a crash in the emirate. But Masood […]

By Nantoo Banerjee   It is very heartening that the government has, for the first time, equipped itself with a clear and comprehensive policy to ensure the growth and competitiveness of India’s less-cared micro, small and medium enterprises (MSMEs) sector. MSMEs are regarded as backbone of development even in highly industrialized countries, including Germany, Japan, France, the US and China. They are incubators of ideas and homes […]

By Ashis Biswas   Thanks to an improved relationship among neighbouring countries in the Indian sub continent, goods transport and power connectivity is gradually getting better.   Recently, Union Power Minister Mr. Piyush Goyal pressed for a seamless power connectivity among SAARC countries, at a meeting in Delhi. There has been a positive response from Nepal and Bangladesh, apart from valuable co-operation extended by both Nepal and […]

NEW DELHI: After clarity on natural gas prices and an ordinance on coal, the government is set to decide on pooling of imported and domestic fuel prices to help stressed power stations with a combined capacity of 91,000 mw generate electricity that’s badly needed as India tries to revive its economy. The Cabinet Committee on Economic Affairs is likely to decide on pooling gas and coal prices […]

NEW DELHI: With a decade’s existence of the Electricity Act of 2003 doing precious little in infusing efficiency and competition into the sector, the government has proposed some key changes in the Act to remedy the situation and prevent the loss-ridden sector, which is struggling to meet the reformist conditions of a financial restructuring package (FRP), from plumbing fresh depths.   The Union power ministry’s draft amendments […]

The contrast between yesterday’s low-key military ceremony at Camp Bastion to mark the end of British combat operations in Afghanistan and the way the nation celebrated victory in the Falklands could not be more stark. Back in 1982 the heroics of the victorious soldiers, sailors and airmen who participated in the daring operation to liberate the islands from their Argentine invaders were marked by representatives of the […]

News Analysis By DAVID D. KIRKPATRICK October 24, 2014 CAIRO — The British police arrest four men accused of plotting a bombing on the scale of the Mumbai hotel attack six years ago. The Australian authorities arrest a ring of 12 accused of plotting daring murders, including a public beheading. In Canada, a gunman assaults the Parliament building and kills a soldier guarding a war memorial, and a motorist strikes […]

The atmosphere at Westminster has always been more to Alex Salmond’s taste Photo: Getty Images So, will Alex Salmond make that return trip to Westminster, again? And does anyone care? His almost coquettish refusal to say for definite, on BBC’s Question Time, whether he plans to swap the IKEA-like backbenches of Holyrood for their green-leather equivalents at Westminster created a fair old stir in certain quarters yesterday. And, […]

The Dubai government has borrowed more than 100 billion U.A.E. dirhams ($27.24 billion) from Emirates NBD as of the end of the third quarter, according to the bank’s most recent financial statements, underscoring the extent to which the emirate has come to rely on its biggest lender for financing after the global recession. Emirates NBD, which is majority-owned by the Dubai government through the Investment Corporation of […]

Emirates NBDs lending to the Dubai government has increased despite recent attempts by regulators to rein in local banks exposures. Bloomberg News The Dubai government has borrowed more than 100 billion U.A.E. dirhams ($27.24 billion) from Emirates NBD as of the end of the third quarter, according to the bank’s most recent financial statements, underscoring the extent to which the emirate has come to rely on its […]

NEW DELHI: In order to make India a better place to do business, the government is working to cut down the time for registering a business from 27 days to a single day. Towards this end, it has readied a raft of measures, such as, single registration for all labour laws, overhaul of tax systems, reduction in the number of permits required, easing up property registration, quick […]

MUMBAI: Foreign funds are buying more Indian corporate bonds as there is no sign that the $25-billion limit on government securities — close to being exhausted — is going to be raised. Overseas portfolio investors have used up nearly half the overall investment limit in corporate bonds compared with 37 per cent four months ago. But foreign portfolio investors, or FPIs, can invest another Rs 1,23,580 crore […]

NEW DELHI — The Indian Defence Ministry — faced with a shortage of ammunition for its Russian-made T-90 tanks, coupled with an inability to produce ammunition at home — has no choice but to give in to Russian terms and purchase marked-up ammo from Moscow, an MoD source said.   The MoD reluctantly agreed to the deal last month, despite the fact that Russia hiked the price […]

By Amulya Ganguli As always, the electorate has sent a clear message to every party in the just concluded elections.   For the BJP, the memo is that the regional parties cannot be ignored, as the Maharashtra results have shown. It was the same lesson which the BJP learnt in the parliamentary polls when it could not breach the regional fortresses of the AIADMK in Tamil Nadu, […]

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