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 […]
By THOMAS ERDBRINK October 25, 2014 TEHRAN — An Iranian woman convicted of murder for killing a doctor she said had tried to rape her was executed on Saturday morning, despite international condemnation of what Western human rights organizations described as a miscarriage of justice and efforts by the Iranian president to commute her death sentence. The woman, Reyhaneh Jabbari, 26, admitted during her trial in 2009 that she […]
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 […]
Aabar Investments is demanding a hefty premium for its minority stake in Malaysia’s No.4 bank, sources say, as the Abu Dhabi state fund leverages on its amplified role in a $22 billion merger that will create Southeast Asia’s fourth-largest lender. When the Malaysian stock exchange last week barred the Employees Provident Fund (EPF) from voting on a plan to merge CIMB Group Holdings, RHB Capital Bhd and […]
Microsoft has taken a lot of heat for unpopular Windows releases and less-than-hip tablet roll outs, but apparently Redmond is doing plenty right. The company on Thursday announced $4.54 billion in net income, or 54 cents per share in earnings, on revenue of $23.2 billion for the third quarter, outpacing its competition. Cloud strength and hardware sales helped buoy the firm’s record earnings. The good financial news […]
ACWAs Chief Executive Paddy Padmanathan says the company wants to expand its presence in the renewables sector and make a push for fuel diversification. ACWA Saudi Arabia-based water and power project developer ACWA Power has recently received a $100 million equity investment from the International Finance Corp (IFC), a unit of the World Bank. The investment is aimed at funding renewable energy projects to help meet the […]
By Kalyani Shankar The BJP is jubilant after its spectacular success in Maharashtra and Haryana Assembly polls this week. Coming as it does on the heels of the recent impressive Lok Sabha victory, the BJP can claim that the momentum as well as the Modi magic is intact. The Congress on the other hand is demoralized further after its humiliating defeat in both the states. There is […]
By G. Srinivasan The upcoming G-20 Heads of State meeting in Brisbane, Australia in mid-November is being convened when urgent policy actions from major economies, advanced and emerging, call for coordinated and focused approach to get the world economy out of the anemic recovery. Latest economic data from global financial institutions such as the World Bank, the IMF, OECD and the WTO do not inspire hope that […]
By Ashok B Sharma What is behind Modi magic BJP sweeping the polls in Haryana and emerging as the single largest party in Haryana? Some point to the record voter turnout of 76 per cent in Haryana and high turnout of 64 per cent in Maharashtra as the cause of BJP’s success. It is true that high voter turnout has always favoured the BJP. BJP had […]
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 […]
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 […]
The bear market in oil has analysts reassessing the U.S. shale boom after five years of historic growth. The U.S. benchmark price dropped to $79.78 a barrel on Oct. 16, the lowest since June 2012. At that level, one-third of U.S. shale oil production would be uneconomic, analysts for New York-based Sanford C. Bernstein & Co. led by Bob Brackett said in a report yesterday. Drillers would […]
Saudi Arabia’s closure of an offshore oilfield it shares with Kuwait has revived speculation of renewed tensions between the two, and put Chevron’s role in the shared Neutral Zone in focus. Crude output from their jointly-run offshore Khafji oilfield has been halted temporarily to comply with environmental rules. “Little things lead to big things, it’s an accumulation of the past. Each party says a different story,” said […]
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, […]
By Praful Bidwai The contrast between India’s two recent science and technology (S&T) projects couldn’t have been starker. One, by delivering accurate early warnings about Cyclone Hudhud, saved thousands of human lives, and prevented destruction of property on a monstrous scale. The other put India’s Mars Orbiter Mission (MOM) Mangalyaan spacecraft successfully into a distant orbit around the planet—a technological achievement, but without much scientific, leave alone […]
Mumbai: After years of regulatory dithering, foreign and domestic institutions might look forward to entry into the commodity derivatives market. The Reserve Bank of India (RBI) and the Forward Markets Commission (FMC) are meeting next week to consider the proposal, suggested by a sub-committee of the Financial Stability and Development Council. Allowing domestic financial institutions such as banks and mutual funds was made by the commodities markets […]
NEW DELHI: Eighty-eight infrastructure and industrial projects, involving investment of nearly Rs 3 lakh crore – which is more than the Centre’s budgeted income tax collections for the current financial year – have become operational over the past few months. This will help in adding jobs and easing pressure on banks, which had lent to the projects that got stuck due to lack of government clearances. […]
New Delhi: The government on Monday allowed private companies in the defence sector to sell equipment to state-run entities without prior approval of the defence ministry, a move that could attract investments in the sector. The decision came after the government opened the sector for higher foreign direct investments (FDI) and relaxed compulsory licensing for a number of equipment. “The licencee shall be allowed to sell […]
Iran, which faces sanctions on crude exports, sees no need for OPEC to hold an emergency meeting, a sign that markets may need to wait a month before the world’s biggest producer group responds to falling prices. Oil Minister Bijan Namdar Zanganeh has consulted with Iranian President Hassan Rouhani about political and economic reasons for the collapse in prices, the ministry’s news website Shana reported today. No […]
By S. Sethuraman As the slow-grinding economy enters the second half of fiscal 2015, a tinge of optimism pervades policy-making circles in Modi Government that recovery would now begin to gather some steam to hit at least a minimum of 5.5 per cent GDP growth, in a distinctly improving macro-economic environment. Prime Minister Narendra Modi has now put in place a new economic team to […]
NEW DELHI: After announcing several labour reforms last week, the Narendra Modi government is considering allowing workers to participate in board decision of state-run firms such as Oil and Natural Gas Corporation, Coal India, NTPC, Indian Oil Corporation and BHEL. The policy proposal, an initiative of the labour ministry, is expected to be initially confined to state-run enterprises, but its scope could be enlarged later to include […]
New Delhi: The department of industrial policy and promotion (DIPP) has finalised proposed foreign investment policy reforms related to composite limits as part of efforts aimed at greater clarity and the plugging of loopholes. DIPP, the nodal agency for overseas investment policy, has readied a cabinet note incorporating suggestions from various government departments that had raised concerns over the stringent guidelines recommended for portfolio investment, especially in […]
