NEW DELHI: The Centre is likely to reallocate to state-run firms such — as NTPC and Damodar Valley Corporation — as well as state government utilities their captive coal blocks that had been cancelled by the Supreme Court. This leaves only half of the mines for auction to the private sector in the first phase in December. The coal ministry has assured most of the central […]
PANAJI: Defence Minister Manohar Parrikar is considering the introduction of a new policy on the vexed issue of blacklisting defence equipment suppliers accused of corruption as well as reforming rules for lobbyists to balance the needs of the armed forces with transparency. Speaking to ET in the state capital at the chief minister’s residence, Parrikar said, “One of the ideas the government is thinking about is […]
By S Sethuraman As the Modi Government completes its first six months with a record of hesitant, incremental moves on the economic front, growth recovery has at last become visible and looks to gain momentum to hit the targeted 5.5 per cent or slightly above, in fiscal ’15. Business sentiment is being bolstered by falling inflation and output modestly growing by 2.8 per cent in the […]
By Anjan Roy China is riding the crest of its economic success currently. It has taken one more step to make its currency globally traded and thus acceptable. China has announced what is known as the Hong Kong-Shanghai Stocks Connect from November 17. This in effect means off shore trading in the Chinese currency for purchase of stocks in Hong Kong and Shanghai exchanges. Earlier, […]
By G. Srinivasan It is no doubt the flavor of the season to wrest the best benefits by domestic export constituencies with the new five-year Foreign Trade Policy for 2014-19 continuing to be work in progress even a few months past its due date of announcement. The National Democratic Alliance (NDA) led by the BJP can bolster India’s leather industry both for its export potentials in general […]
By Sankar Ray The grim battle waged by a small but well=meaning section in Pakistan for a sustaining and evolving democratic order has suffered a setback as some pseudo-democratic interests are working against the struggle for democracy. Needless to say, the Pakistan Tehreek-e-Insaf (PTI) and its chief Imran Khan serve as catalyst in favour of the unholy combine of a section of army, the ISI and […]
By Harihar Swarup Another round of crucial Assembly elections are round the corner. While the polls are due in Jammu and Kashmir and Jharkhand in December, in Delhi, where state assembly has been dissolved, the election is slated to be held in January. Doubtless, election in Jammu and Kashmir is of vital importance in the changed scenario. Both the ruling National Conference and the Congress are […]
NEW DELHI: HDFC Bank will not be able to raise much money by way of foreign investment even as the Foreign Investment Promotion Board (FIPB) on Friday regularised its current overseas investment structure. That is because the board turned down the bank’s plea to not treat the promoter stake as foreign investment. Besides, the bank will also have to deposit a penalty as it was in the […]
Mumbai: The finance ministry will meet chief executives of public sector banks on November 20 to take stock of the progress made under the Prime Minister’s Jan Dhan Yojana (PMJDY). There will also be a review of the performance of the lenders. Hasmukh Adhia, the newly appointed secretary of financial services, who took charge on November 8, will chair the meeting. Adhia, a Gujarat-cadre IAS officer of […]
NEW DELHI: After cementing trade ties with China, energy-rich Russia is now looking to strengthen its relationship with India by reviving discussions on a hydrocarbon pipeline, in addition to inviting ONGC Videsh (OVL) to invest in oil and gas projects in the Russian Federation. India and Russia have decided to form a joint working group to study laying a ‘hydrocarbon’ pipeline connecting the nations. Preliminary discussions […]
Dubai’s inflation rate advanced to the highest level in more than five years, after prices in the housing index rose the most since at least January 2009. Consumer prices accelerated to 4.38 percent in October compared with the same period last year, the Dubai Statistics Center said in an e-mail today, the highest since May 2009. Housing, the biggest component in the consumer price index, added 6.67 […]
India on Thursday achieved a major victory with the US agreeing to its proposal on food security issues at WTO, a development that will pave the way for a breakthrough to end the three-month long stalemate. The agreement comes two days ahead of the G-20 Summit in Australia, which will be attended by Prime Minister Narendra Modi and other world leaders including the US President Barack Obama. […]
Uh-oh, folks, this is starting to look serious. There really does appear to be a plot to remove Ed Miliband. One paper has reported that there are 20 shadow ministers who are “on the verge” of asking him to step down. Nameless Labour MPs have said that the rebellion against Ed has reached “critical mass” – and one has a vision of fuel rods starting to shudder […]
Saudi Arabia’s Etihad Etisalat (Mobily), which has seen its share price fall by the daily limit for three straight days since reporting an accounting error on Monday, said it would not distribute a dividend for the third quarter. The firm, under investigation by the bourse regulator after restating a year and a half of earnings, also said it would evaluate whether to pay shareholders in the coming […]
NEW DELHI: Suresh Prabhu is set to play a key role in drafting policy on natural resources and infrastructure in the Narendra Modi government. The Shiv Sena member has been given an office in South Block, where the Prime Minister’s Office is located, and is expected to be given cabinet rank. Prabhu is also expected to look after the organisation that will succeed the Planning Commission […]
New Delhi: India Inc on Wednesday pitched for a rate cut by the Reserve Bank of India (RBI), saying the central bank should be “more courageous”, since inflation had come down drastically and growth is not picking up. RBI is slated to come out with its policy review on December 2. “RBI has to be more courageous,” said Anand Mahindra, chairman and managing director of Mahindra & […]
KATHMANDU: India and Nepal are holding negotiations to sign a second Project Development Agreement (PDA) to generate hydorelectric power in the Himalayan nation endowed with rich water resources. The negotiations for the 900 MW Arun-III project between Investment Board Nepal (IBN) and Satluj Jal Vidyut Nigam Ltd, India, which began here yesterday, continued today, Indian Embassy sources said, adding, they are set to continue tomorrow as […]
New Delhi: India is not likely to get a futuristic stealth fighter anytime before 20242025. Technical and price wrangles continue to bedevil the joint project with Russia to develop the fifth-generation fighter aircraft (FGFA). India, in fact, has conveyed its deep concerns to Russia about being denied “full access“ to the FGFA project despite the fact that it is supposed to be an equal partner in […]
The government of the emirate of Abu Dhabi is looking at ways to reform its system of subsidies for electricity and water, a senior International Monetary Fund official told Reuters on Wednesday, in what would be a landmark move by the emirate. “We discussed it here at the policy level, particularly with the Abu Dhabi government, which indicated they are now looking at ways to streamline their […]
Dubai’s stocks fell the most among global markets as oil extended declines while Saudi shares slumped amid heightened security concerns. The benchmark DFM General Index (DFMGI) dropped 3.3 percent, the most in three weeks, to 4,400.80 at the close. That’s the steepest slide among 93 gauges worldwide tracked by Bloomberg so far today. Saudi Arabia’s Tadawul All Share Index lost 1.6 percent for the third-worst decrease, taking […]
Five years after collapsing, Dubai’s strengthening real-estate industry is getting a vote of confidence from investors in the emirate’s stock market. In September, Dubai’s flagship developer Emaar Properties spun off its malls business in a $1.6 billion initial public offering that enjoyed strong demand from investors. The IPO of Emaar Malls—whose main asset is Dubai Mall, one of the largest shopping centers in the world—marked the biggest […]
NEW DELHI: The National Democratic Alliance government is planning to exempt public-private partnership (PPP) projects from the need to obtain consent of affected families and the mandatory social-impact assessment, through amendments to the land acquisition law. In the Bill put up by the previous government and passed by Parliament, PPP projects need consent of 70 per cent of affected families and have to study the social […]
Mumbai: Non-performing assets (NPAs) in the banking system are set to increase in the range of R60,000 crore to 1 lakh crore in the next five months, rating firm India Ratings and Research said on Tuesday. With the Reserve Bank of India’s forbearance on classification of restructured asset to end after March 31, 2015, no fresh restructured accounts can be classified as standard after the deadline. The […]
NEW DELHI: The Centre has prepared a detailed roadmap in consultation with states to make India “diesel generator and inverter free” in the next five years, and fulfill the Narendra Modi government’s promise to provide 24×7 power to every home, factory and farm and put the country back on the high-growth trajectory. Power, coal and renewable energy minister Piyush Goyal recently held meetings with ministers of […]
