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Economy News - Page 21
Economic growth to slip to 7% in 2011-12: Plan panel
Planning Commission today said the country's economic growth in the current fiscal will slip to 7 percent from 8.5 percent a year ago.
Oil rises to near $103 on Iran tensions, China's increased demand
Tensions between the West and Iran, a national strike which could affect oil production in Nigeria, and growing investor optimism about US economy are contributors.
Govt clears 20 FDI proposals worth Rs 1,935 cr
The government today approved 20 foreign direct investment proposals, including that of Sterlite Grid, Equitas Micro Finance and TV Vision, envisaging total investment of Rs 1,935.24 crore.
RBI gives go ahead to 4 more banks to import precious metals
The Reserve Bank of India (RBI) has allowed Yes Bank, City Union Bank, ING Vysya Bank and Bank of Maharashtra to import gold and silver.
Indian food is now officially vegan in the US
A frozen Indian cuisine producer has been awarded the vegetarian and vegan food certification by the US' prestigious American Vegetarian Association. The award represents an acknowledgment of the growing demand for vegetarian Indian food.
States may give consent to introduction of GST by centre
State governments have given their in-principle approval to a proposed national goods and service tax (GST), the Mint newspaper reported on Tuesday.
Decision on diesel price hike at right time: Reddy
The minister denied that the decision on diesel price hike is linked with the ensuing assembly elections in five states.
Government asked to treat fuel as 'declared goods'
Industry body Assocham today asked the government to lend a helping hand to troubled airlines by treating jet fuel as 'declared goods'.
Bond yields fall after PM said growth could be lower than forecast
Prime Minister Manmohan Singh said on Sunday that the Indian economy would likely grow about 7 percent this fiscal year, lower than a revised forecast of about 7.5 percent
Once struggling US auto market now industry bedrock
Welcome to an unlikely beacon of hope for the global auto industry - Detroit.
Europe may avoid recession this year: IMF
The Business Day newspaper quoted International Monetary Fund's Managing Director Christine Lagarde as saying that Europe may avoid a recession this year.
Rupee declines 13 paise against $, opens at 52.84
The rupee had notched up a gain of 27 paise to close at a nearly two-week high of Rs 52.71/72 against the dollar in the previous session on Friday
Global regulators vow tough bank liquidity rules from 2015
But in a move to head off opposition from industry, global regulators also said lenders can tap into safety buffers in times of stress.
Ore exporters in the lurch, Goa govt to take up issue of export duty rollback with Centre
<br /><br /> The export duty was hiked from 20 percent to 30 percent from December 30, 2011 onwards, leaving the Iron Ore exporters in lurch.
Rupee stability main concern for RBI: Gokarn
The Reserve Bank of India's, Deputy Governor Subir Gokarn said that the stability of the rupee is the main concern for the central bank.
Cabinet to consider proposal of buyback of govt equity by PSUs
The move that will help the Centre to meet its disinvestment target of Rs 40,000 crore in 2011-12.
Savings bank account number portability on anvil:FinMin
The move would help customers change banks, without the need of going through the KYC norms again.
Rupee up 17 paise in early trade on hopes of foreign flows
Dealers said firm domestic equity markets also supported the rupee. The rupee had lost 20 paise to close at two-week low of Rs 53.30/31 per dollar yesterday.<br /><br />
Regulatory risk negatively affecting telcos' financials: Fitch
The Fitch report said the Indian sector suffers from an evolving regulatory framework and frequent policy changes, which has negative effect on financial profiles and access to capital.
New Year cheers for job seekers: Over 5 lakh new jobs in 2012
Adding to the cheers of the job market, the employees could expect double-digit salary hikes during 2012
Chennai becoming hub for gaming and android-based technologies
Home to many IT companies, Chennai is slowly becoming a hub in providing support for gaming and android based technologies besides witnessing a new trend in supporting Computer Aided Design (CAD).
Global industrial output may stabilise in 2012: Unido
Both the US and Europe are facing slowdown in their economies.
US consumer confidence perks up, house prices sag
Improving labour market conditions lifted US consumer confidence to an eight month high in December, but persistently weak house prices remain an obstacle to faster economic growth.
Japan says it, India close to deciding dollar swap pact
Japan and India are in the final stages of deciding on a dollar swap agreement and expect to reach agreement during Japanese Prime Minister Yoshihiko Noda's visit to India this week
High rates hit margins; sales growth declines to 20% in Q2
The Reserve Bank has hiked key interest rates 13 times since March 2010 to tame inflation.
Anti-Posco protest: CPI leader Narayan Reddy arrested
After being arrested, the anti-Posco leader was taken to Kujang police station amid tight security and then produced before a local court which remanded him to judicial custody for two weeks
Competition policy will bring down inflation: Moily
The government is all set to come out with National Corporate Governance Policy and National Competition Policy by the end of this fiscal.
Sustained rupee depreciation may escalate inflation: Fitch
Fitch has revised its forecast for India's growth in 2012-13 to 7.5 percent, from 8.2 percent, as inflation and monetary tightening are weighing on investment.
Economy to grow by 7.5 pc next fiscal: Fitch
The economy is likely to grow by 7.5 percent in 2012-13 and public finances of various state governments are likely to see consolidation during the next fiscal, ratings agency Fitch said today.