Economy News - Page 28

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. <br /><br />

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.<br /><br /> <br /><br />

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.<br /><br /> <br /><br />

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.

Global airlines urge UN deal to avert carbon trade war

The call by the head of the International Air Transport Association comes amid signs that the EU may be willing to soften a unilateral stance that also risks souring efforts to resolve Europe's sovereign debt crisis with Chinese support.

Sebi's listing norms: 8 PSU stocks to gain most

Eight PSUs (including STC, MMTC , RCF and National Fertilizers ) in which the government holds more than 90 percent stake are likely to get impacted positively.

Licence cancellation to hit banks' profits by 10%, says Fitch

According to Fitch, banks' exposure to the telecom companies that are losing 2G licences is around 0.6 per cent of their total loans.

ICICI Bank signs $300 mln loan with Japan banks

The funds will be used to support renewable energy and energy efficiency projects in India.

SAIL in talks to form consortium to bid for Afghan copper deposits

The consortium is to bid in response to Afghanistan's invitation to express interest by 9 March for gold and copper deposits in its provinces.

India to pay for Iran's oil via rupees through UCO Bank

Iran's supplies to India have been fraught with payment problems in the last 13 months. However, Iran is now ready to accept payment in rupees from India

Air India owes Airport Authority Rs 1,200 cr

AAI is responsible for managing the civil aviation infrastructure in the country

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.