Economy News - Page 19

Competition Policy to be ready by March: Moily

Moily said the Companies Bill is likely to be passed during the Budget session of Parliament.

Fiscal consolidation needed for stimulating growth: RBI

Although the food inflation has turned negative in recent past, the overall inflation was 7.5 percent in December.

India faces challenges on stable rating outlook: S&P

S&P has an investment grade BBB- rating with a stable outlook on India.

PIL alleges illegal drug trials in India, SC notice to Centre

A bench of justices R M Lodha and H L Gokhale issued notice to the Centre, Health Ministry and Medical Council of India seeking their replies on the petition.

RBI relaxes FX curbs for banks with big open positions

The nominal change is designed to accommodate technical fluctuations and will not have an impact on the rupee or encourage speculative trading, dealers said.

No more agressive rate cuts, CRR cut to infuse liquidity rapidly: Gokarn

Gokarn said a cut in the interest rates was the next logical step but would depend on other macro-economic factors.

Ministers to meet again to finalise ONGC public issue

Owing to new Sebi guidelines, the EGoM on disinvestment will meet again in 10 days to finalise divestment in ONGC.

Don't see much impact on customer, auction preferred: TRAI

Telecom regulator TRAI today said there will not be much impact on customers due to cancellation of 122 2G licenses of eight companies.

Finmin working on implications of 2G judgement on banks

The Finance Ministry is working out the financial implication of the Supreme Court judgement to cancel 122 telecom licences on the banking sector.

Gold hits 8-week high as investors bet on more gains

Gold appears in the process of convincing investors that its stint as a hybrid between a safe haven and a risk asset is coming to an end

Moody's sees negative ratings trend for Asian firms

Moody's said it expects a negative ratings trend for Asian corporates, indicating there will likely be more ratings downgrades than upgrades this year.

Rupee at 3-month high on strong factory data from China, India

Asian shares, the euro and crude oil rose as encouraging manufacturing data soothed fears about the global economic fallout from the euro zone debt crisis.

Rupee eases on US economic data, eurozone crisis

In early trade the rupee was at 49.59/60 to the dollar, weaker from Tuesday's close of 49.44/45.

Trivedi pitches for regulator to de-politicise railways, suggest fare hike

ailway Minister Dinesh Trivedi today strongly pitched for a regulatory body that would suggest train fares in a bid to de-politicise the railways.

Possibility of another CRR cut always on table: Gokarn

Subir Gokarn also said the central bank would use open market operations to address liquidity conditions between policy reviews.

Rupee heads for best performance in 10 years

The rupees gain follows a 16 percent drop in 2011 on foreign outflows and growing concerns about the current account deficit, making it Asia's worst performer last year.

Food Security Bill needs amendments: Swaminathan

The agriculture scientist lamented the Bill has no role for gram sabhas and local bodies in achieving social protection measures.

Investors await Greece debt deal talk, gold off 7-week high

Gold hit a high of $1,739 an ounce, its strongest since December 8, on safe-haven buying after data showed U.S. fourth-quarter economic growth was weaker than expected

Topless Ukrainian protesters disrupt Davos event

Three topless Ukrainian protesters were detained while trying to break into an invitation-only gathering of international CEOs and political leaders

India, Canada to fast-track talks on trade opening pact

Negotiations are underway for similar trade arrangements with European Union and Australia.

Occupy protesters rebuffed at main Davos forum

The activists said Friday they had come peacefully to claim their entry passes and those of "seven billion other people" wanting to take part in the annual meeting.

Who benefits from Fed's ultra-low US interest rate policy?

It is the first time that the central bank projected that far ahead into the future. While financial markets cheered at the prospect of cheap money for the next three years, what does it mean for the rest of the world?

SAIL sees FY13 capex at $2.9 bn: chairman

State-run Steel Authority of India Ltd will spend about Rs 145 billion on capital expenditure in the next fiscal year, up 15 percent from the current year, adding 5 million tonnes of capacity, its chairman said.

Food price index for 14 Jan down 1.03 percent year on year

India's food price index declined 1.03 percent in the year to 14 January government data on Friday showed, compared with an annual drop of 0.42 percent in the previous week.

WEF: Davos leaders look to China's investments abroad

But the director general of the WTO said China will continue to face "public perception problems" from its investments abroad.

China says EU ban on Iran oil not 'constructive'

China on Thursday criticised the European Union for banning oil imports from Iran.

Bernanke has 'finger on trigger' for new bond buys

After Bernanke's warning of an impending gloom on the US economy, the Federal Reserve System is inching closer to another round of money pumping.

Infosys says US investigating visa sponsorships

Infosys, India's No 2 software services provider, said it was being investigated in Texas over its sponsorship and use of U.S. business visas.

Free diesel prices: RBI to govt

It is estimated that the higher expenditure on petroleum subsidy could drive up the fiscal deficit by around 0.8 percentage points of the GDP for 2011-12.