Economy News - Page 29

FDI in retail will create millions of jobs, opportunities for SMEs: Roemer

Asked about the US reaction to the issue, Roemer said the US President is a real believer in the democratic process and knows that everyone cannot agree on every single issue, especially strategic issues.

UB Group to consolidate foreign liquor assets

UB Group will consolidate its foreign alcohol assets ahead of an overseas listing of the brands, the Economic Times reported on Monday.

Malaysia's AirAsia X to stop flying to Europe, India

Malaysian long-haul budget carrier AirAsia X will stop flying to Europe and India from its Kuala Lumpur base due to soaring taxes and higher jet fuel prices

Foreign banks squeeze costs as Asia's glow fades

Big Wall Street and European banks are looking to slash budgets across Asia, as the emerging market promise is trumped by an urgent need to control costs.

Thomas Cook to sell India unit to raise funds: report

Cash-strapped UK parent of Thomas Cook India has decided to sell its Indian arm to raise money to help its troubled global operations, the Economic Times reported on Thursday.

Ind Min wants FDI in airlines exempted from Sebi takeover code

In a move to help cash-starved airlines like Kingfisher, the Industry Ministry is pitching for exemption of the sector from Sebi's takeover code.

Water problem for industries likely to rise further: Ficci

Expressing concern over inadequate availability of water for industries, Ficci today said the problem is likely to increase in the coming years.

Chidambaram says China should be emulated, not envied

Home Minister P Chidambaram today said India's trade with China is booming and there is nothing to envy the country, rather it should be emulated.

Single brand FDI to be notified 'soon': Govt

The government may soon notify 100 percent foreign direct investment in single-brand retail, paving the way for global chains like Adidas, Nike, Louis Vuitton, Hermes and Gucci to have full ownership of their India operations.

Renault showcases first mass segment vehicle

Renault has big plans for India in the current year, be it new launches, opening showrooms or ramping up production capacity.

Tata Motors plans $568 mn capex in FY13

Tata Motors has earmarked Rs 30 billion as capital expenditure for the financial year beginning on 1 April, a senior official said on Friday.

Rising interests and costs fail to slow down growth of Hero Motocorp

India's largest motorcycle maker, Hero Motorcorp remains optimistic about continuing their double digit growth in the coming fiscal year.<br /><br />

M&M to launch 2 green cars, 1 SUV by Diwali

Home grown auto major Mahindra & Mahindra will be unleashing six new vehicles by the end of the next fiscal.

Maruti to hike car prices next week

The country's largest car maker Maruti Suzuki India (MSI) today said it is considering increasing the prices of its products.

Goa mining industry fears bleak future due to export duty hike

On December 30, the Ministry had announced a hike in export duty from 20 per cent to 30 per cent on all types of iron ore grades.

Rupee to underperform on India's huge current account deficit: RBS

The bank said rupee valuations that are close to 2009 lows look attractive but are more reflective of the currency's poor fundamentals.

CLSA upgrades Infosys from 'underperform' to 'outperform'

Brokerage CLSA has upgraded India's No. 2 software services exporter Infosys to 'outperform' from 'underperform', saying the company is best placed to capitalise on the weak rupee.

Asia factory output weak; India defies with rise

Asian factory output remained weak in December, with Chinese manufacturers narrowly avoiding contraction and South Korea's industrial production shrinking the most in almost three years.

Eiffel Group to invest Rs 300 cr in Maha's golden triangle

As the second home phenomenon gains currency in the Mumbai-Pune-Nashik belt, realty player Eiffel Group has earmarked Rs 300 crore for the next three years to launch more projects in 'Maharashtra's 'golden triangle'.

No moderation in inflation for RBI to change policy: Rangarajan

His comments followed the release of data which showed that the overall inflation remained close to the double-digit mark, at 9.72 percent, in September on account of costlier food products, fuel and manufactured goods.<br /><br />

India for automatic sharing of banking data to curb black money

Taking the fight against black money to global level, India will impress upon the G-20 nations to persuade tax havens to do away with their secrecy laws and adopt mechanism for automatic sharing of taxation and banking data.

Govt clears changes in laws to deal with bad loans

The Cabinet approved the introduction of the Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Bill, 2011, in the next Winter Session of Parliament, Information and Broadcasting Minister Ambika Soni told reporters here.

RBI: rupee weakness has raised import costs

The Reserve Bank of India's (RBI) chief said that the rupee has depreciated "quite significantly" in the last few months pushing up import costs.

'Volatile markets, inflation hitting HNIs'

Rise of high networth individuals (HNIs) in the country is getting affected in the 'high inflation.

India's R&D centres are 25 percent cheaper than China's

Operating cost of MNC research and development (R&D) centres in India is 25 per cent lower compared to China, according to a report unveiled today by global advisory firm Zinnov Management Consulting.

Exporters get Rs 1,700 cr Diwali bonanza

Reserve Bank has already notified interest subsidy of two percent for handicrafts, handlooms, carpets and small and medium exporters.

Food inflation down at 9.32 pc for week ended 1 Oct

Food price index rose 9.32 percent and the fuel price index climbed 15.10 percent in the year to 1 October, government data on Thursday showed.

Rupee down by 3 paise against dollar in early trade

The Indian rupee eased by 3 paise to Rs 48.98 per dollar in early trade today on mild demand for the American currency from importers.

Black money trail: I-T sleuths scrutinise transactions worth Rs 153 lakh cr

The verification will help the Income Tax Department to go into the source of funding of high-value transactions like purchase of shares, mutual funds, bonds and property.

Factory output diappointing, may affect GDP: Pranab

Mukherjee, however, declined to comment on the extent to which the subdued IIP numbers will impact the economic growth during the July-September quarter (Q2) of this fiscal.