Economy News - Page 28

FDI in aviation under consideration: Ravi

Civil Aviation Minister Vayalar Ravi today said it is considering the recommendation of the Department of Industrial Policy & Promotion (DIPP) to allow foreign carriers to pick up stake in domestic airlines.

Inflation to remain at around 9% till November: Nomura

Research firm Nomura has said it expects inflation in India to remain elevated at around 9 per cent till November.

Maharshtra gov announces 8 year non-agriculture tax holiday for ports, jetty projects

Projects involving the construction of small ports, multi-purpose jetties and cargo terminals have been given industry status by the state government.

India wants IMF to look for alternatives to augment resources

The International Monetary Fund (IMF) must look for alternatives to augment its resources for combating the sovereign debt problems of the European nations, without derailing the agreed quota reforms, says India's Finance Minister Pranab Mukherjee.

Eurozone, US problems hurting emerging economies: Pranab

Sovereign debt problems in Eurozone and slow recovery in the US are taking toll on the emerging economies, but the Indian economy may still clock over 8 per cent growth, Finance Minister Pranab Mukherjee said today.

US should learn from India, Brazil: Clinton

Clinton's speech, billed as a major address, sought to outline the Obama administration's increasing focus on economic issues as the United States heads into the 2012 election season hobbled by huge budget deficits and stubbornly high unemployment.

Environment ministry refuses green clearance to Lavasa

Holding that Lavasa has not complied with pre-conditions, Environment Ministry Friday refused to grant green clearance to first phase of its Hill City project near Pune, till all criteria are met.

Sesa Goa's defence: Donations to political parties were legal

Sesa has made donations to different political parties based on the requests received, after obtaining requisite approvals from its Board of Directors, the company said.

Kundakulam protestors roughed up, PIL seeks rethink on facilities: Reports

Protestors outside the Kudankulam nuclear plant were allegedly beaten up Thursday night. Among those roughed up were four disabled youth.

Power crisis to improve in 4-5 days: Shinde

He said the Power Ministry is taking various steps to resolve the power crisis in the country and is in constant discussions with the ministries of coal and railways regarding the matter.

IMF praises RBI's monetary tightening strategy

In economies where inflation remains above target and inflation expectations have continued to rise, such as in China and India the current pace of monetary tightening remains appropriate: IMF

Govt to take a call on mandatory gold hallmarking in 3 months

The Bill has been hanging fire due to inter-ministerial differences on the issue of outsourcing the BIS's licencing job to private players.

Gujarat committed to Aadhar: Modi tells Nilekani

On the other hand Nilekani said Gujarat should emerge as a role model for others states in the Aadhar project, which shall benefit the common man.

Oil firms may raise petrol, diesel rates after polls

Petrol price were freed from government control in June 2010 but rates have not moved in tandem with imported cost.

Brent oil holds near $123 as Iran offsets economy worries

Brent's risk premium has risen closer to $15 a barrel from $5 to $10 previously after top Iranian crude buyers China and India planned to reduce imports from the Islamic Republic, said Commodity Strategist at ANZ bank, Robertsona.

Stretched bank margins to hinder India's policy easing

Scores of private and state-owned banks, threatened by a rising volume of bad debts, will be hard-pressed to follow the RBI with a cut in lending rates.

New telecom policy likely to be cleared by April end

The new rules would also bring in relaxed merger and acquisition norms and operators would also be free to acquire additional frequency beyond the prescribed limit through auction.

Hiring to grow in small cities in first half of 2012: Survey

Manufacturing and engineering, retail, FMCG, banking and financial services and IT/ITeS are major sectors that would see maximum hiring from smaller cities.

Montek for more regulation over allocation of natural resources

Planning Commission Deputy Chairman Montek Singh Ahluwalia today advocated tight regulation and transparency in allocation of natural resources, as corruption in allotment of mines and 2G spectrum has been making headlines for some time now.

Explain ways to compensate govt losses on 3G roaming : TDSAT to telcos

The operators contended that there would be no loss to DoT on the revenue front by the roaming pact as the telecom firms are paying licence fee.

We welcome FDI in Indian carriers: Jet Airways

Jet Airways Chairman Naresh Goyal today came out in support of the proposal to allow foreign airlines to pick up stakes in Indian carriers.

RBI issues guidelines for White Label ATMs owned by non-banks

In a bid to accelerate the growth and wider spread of ATMs, the Reserve Bank today issued draft guidelines for permitting non-banking entities to set up, own and operate such money dispensing machines.

Vodafone evaluating potential offer for Cable & Wireless

Global mobile communications major Vodafone Plc is evaluating the merits of a potential acquisition of Cable & Wireless Worldwide, a more than 150-year-old telecom entity that was primarily set up to cater to the needs of the erstwhile British Empire.