Economy News - Page 15

Revised FDI policy paper to be released tomorrow

The government in 2010 had decided to come out with consolidated FDI policy paper summarising all the regulations including those of FEMA.

Container shipping liners likely to raise freight rates: Vasan

Container shipping liners are planning to increase the freight rates which was stagnant for a long time in spite of increase in fuel costs and reduced earning said Shipping Minister GK Vasan.

Infra output grows 6.8 percent in Feb

uring April-February, the output rose 4.4 percent, compared with an annual rise of 5.8 per cent a year ago, data showed.

India hopeful of attracting more tourists despite tight budget

Although India's latest budget has increased the allocation for tourism by less than 10 percent, the tourism ministry remains hopeful that it can bring in at least seven million foreign tourists to the country during this fiscal year.

World Bank will work with proposed BRICS bank

The World Bank is looking forward to associate itself with the proposed development bank for BRICS, its President Robert B Zoellick said.

Financial assistance doubled for Kerala's diaspora

The Kerala government on Wednesday doubled the financial assistance extended to the weaker and poorer sections of the state's diaspora.

Eurozone needs a common finance minister: IMF

IMF chief Christine Lagarde said that the eurozone needs a common finance minister who must consider issuing region-wide bonds to help pull it out of its economic crisis.

India can't just rupture ties with Iran, asserts Anand Sharma

He said New Delhi will discuss oil imports from Tehran at a meeting of emerging world powerhouses.

RBI allows additional borrowing on March-end

Repo rate at which banks borrow from the RBI is 8.5 percent while Marginal Standing Facility rate is 9.5 percent.

Akhilesh sets ball rolling for Uttar Pradesh metro projects

Uttar Pradesh officials are reportedly working to prepare feasibility reports for the metro rail projects.

Govt says examining jewellery excise levy removal

Jewellers' strike entered its eleventh day on Tuesday, with most jewellery shops in Maharashtra and Gujarat planning to remain shut till 31 March.

Defence capital expenditure limit raised

A big chunk of the budget sanctioned for the Indian Army would be used to bear the pay and allowances of the soldiers and officers.

US firms keen to invest in India's infrastructure projects

India is the 13th largest trading partner of the United States and its 17th largest merchandise export market.

French jobless rate hits highest since Oct 1999

The number of jobless people in France rose for a 10th consecutive month in February to reach its highest level since October 1999, casting a pall over President Nicolas Sarkozy's re-election prospects.

RBI to keep liquidity tight till inflation eases

Banks borrowed Rs 1.96 lakh crore ($38.50 billion) from the central bank's repo window on Monday

Central banks brace for Greek elections, ensure liquidity

Central banks of most economies are bracing themselves for the eventful weekend with the Greek elections and polls in Egypt and France. Banks will ensure there is enough liquidity.

Gold imports may fall 56% in Jan-March due to jewellers' strike

The jewellers have reportedly incurred a loss of about Rs 10,000 crore during the strike

Govt approves Rs 231 cr for cold chain projects

MOFPI is implementing a scheme for cold chain, value addition and preservation infrastructure.

Cabinet extends JNNURM projects by two years

The government said that projects sanctioned under JNNURM till March 2012 will get an extended timeline till 2014.

Govt approves award of 16 oil and gas blocks

CCEA approved award of two shallow water and two onland blocks to consortia led by ONGC.

No decontrol of diesel; petroleum prices need a relook: Reddy

Oil companies have demanded that since they have not been able to raise petrol price in line with increase in cost, they be compensated by the government for the Rs 4,500-crore loss they incurred on fuel sale.

Coal India pays Rs 5,400 cr dividend to govt for FY12

State-run Coal India (CIL) today handed over a Rs 5,400 crore dividend cheque to the government for the ongoing fiscal.

India-ASEAN trade may touch $80 bn in 2011-12

India-ASEAN trade was valued at $60 billion in the nine months of April-December 2011.

Budget Imact: ONGC profits to take Rs 5,000 cr hit

The budget for the fiscal year beginning in April proposed to raise cess on crude oil to Rs 4,500 per tonne from Rs 2,500 per tonne.

Is the worst of the eurozone crisis over?

The worst of the eurozone crisis is over and the situation is stabilising, Mario Draghi, President of European Central Bank (ECB) has been quoted as saying.

India needs oil, will continue to import from Iran: oil minister

India will continue to import oil from Iran without violating any international law, said Reddy.

RBI policy depends on new CPI, realty data

Speaking at an investor conference in Hong Kong, Subir Gokarn also said a low fiscal deficit would help in bringing down interest rates and boosting investments.

No negative rating but slowdown, policy risks remain:Deutsche to India

Deutsche Bank suggested that India should control its expenditure and move towards tax reforms, particularly the goods and services tax, and expand the tax base to improve the fiscal situation.

Consumption to be China's 2012 growth driver: report

Consumption will overtake investment as China's biggest driver of economic growth in 2012 for the first time in more than a decade, the Ministry of Commerce's research institute said in a report.

Expect Food Security Bill by year-end, says Thomas

The government today said it plans to implement the National Food Security Bill by the end of this year.