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Standard & Poor’s on Friday warned that it may downgrade India’s sovereign rating to junk if the government fails to pursue reforms and rein in fiscal and current account deficits. File photo
AP Standard & Poor’s on Friday warned that it may downgrade India’s sovereign rating to junk if the government fails to pursue reforms and rein in fiscal and current account deficits. File photo

S&P warns of rating downgrade

Retains India’s sovereign rating at ‘BBB -’ with a negative outlook, says there is a 1 in 3 likelihood of downgrade in 12 months »      3 comments
Britain's Chancellor of the Exchequer George Osborne (centre) and India's Finance Minister Palaniappan Chidambaram, take a tour of the Pudding Mill Lane Crossrail construction site, in east London on May 16.

Feeder fund for IDFs under study: FM

India is exploring the possibility of setting up a London-listed ‘feeder fund’ for Infrastructure Debt Funds (IDFs), and is looking to work with the U.K. on increasing institutional investments in the sector, said Finance Minister P. Chidambaram. »      2 comments
A State Grid sign is seen above a State Grid training center in Beijing. File photo.

China State Grid to buy stake in Australia network

State Grid is the world’s largest utility company with annual revenue of $300 billion. »
Labourers unload wheat bags at a market on the outskirts of Chandigarh on April 17, 2013.
Chandigarh, May 18, 2013

Punjab, Haryana stare at lower wheat arrivals

What was supposed to be a bumper crop with a record target for wheat procurement has turned out to be a dampener with much lower quantities of wheat arriving in grain markets across Punjab and Har... »
Chinese Vice Commerce Minister Jiang Yaoping said the nature of the trade relationship was changing, particularly with India emerging as the biggest destination for project contracts for Chinese companies. File Photo: Arunangsu Roy Chowdhury
BEIJING, May 16, 2013

China pledges to fix trade deficit issue with India

China is sending an investment promotion mission and one of the biggest ever business delegations to India next week to accompany Premier Li Keqiang on his State visit, top officials said on Thurs... »
File Photo of off-shore oil rigs of ONGC Sagar Shakti. Photo: Paul Noronha
NEW DELHI, May 16, 2013

CCEA to take up gas pricing issue

With the Cabinet Secretariat returning the proposal of the Petroleum Ministry for raising the domestic natural gas prices from the present $4.2 per million metric British thermal unit (mmBtu) to a... »
NEW DELHI, May 16, 2013

Chidambaram on 3-nation tour

P.Chidambaram. File Photo: R.V. Moorthy Continuing on his mission to tell India’s ‘fascinating growth story’ abroad to rake in foreign investment, Finance Minister Chidambaram, on Wednesday, left on a three-nation tour of the U.K., Fran... »
New Delhi, May 15, 2013

India placed sixth in economic confidence: Survey

India’s economic confidence dropped last month due to plethora of corruption allegations against the Union government ministers and the country is now the sixth most economically confident country... »
MUMBAI, May 14, 2013

Gold import curbs may hit small jewellers

The Reserve Bank of India’s (RBI) move to restrict import of gold consignments could impact smaller players in the gold and jewellery industry. The aim of the government is to moderate d... »
New Delhi, May 14, 2013

Inflation drops to 4.89 % in April

For the first time since November 2009, wholesale price index-based headline inflation slid further to 4.89 per cent in April this year from 5.96 per cent a month ago following a significant easin... »      5 comments
NEW DELHI, May 13, 2013

Gold imports to be at 900 tonnes

India’s gold imports are likely to exceed last year’s level to around 900 tonnes in the current calendar year on higher demand despite government curbs on its shipments to rein in current account... »
A young girl tastes a mango at a mango mela organised by AP Horticulture Dept. at Hyderabad on May 7, 2013. Photo: Nagara Gopal.
New Delhi, May 13, 2013

Mango export to US to touch 500 tonnes

Mangoes exports from India to the US are likely to touch a record level of about 500 tonnes this year, due to a strong demand and an expected sufficient supply of export quality fruit, according t... »
The prices of vegetables eased to 5.43 per cent in April from 12.16 per cent in March. File photo
New Delhi, May 13, 2013

Retail inflation slips to 9.39 per cent in April

Retail inflation, as measured by the Consumer Price Index (CPI), slipped markedly by one percentage point to 9.39 per cent in April this year from 10.39 per cent a month ago following a declining... »

States oppose ‘declared goods’ tag for mobile phones

India’s food conundrum

States for common exemption list under GST

Tesco seeks clarity on sourcing norms

Cabinet nod for two new major ports in West Bengal, Andhra Pradesh

24% slump in Indian exports highlights China trade barriers

India-EU FTA talks likely to hit roadblock

Growth story remains credible, Finance Ministry tells Moody’s

India refuses to commit on duty waiver for industrial goods in select sectors

KOLKATA, May 17, 2013

ITC Q4 profit up 19.4 %

For the first time, ITC’s non-cigarette business reported a profit, boosting the fourth quarter results of the multi segment conglomerate. For the quarter ended March 31, 2013, ITC posted a net pr... »
NEW DELHI, May 16, 2013

Import tariff value of gold cut

In keeping with the subdued price trend in global markets, the government on Thursday reduced the import tariff value of gold to $466 from $472 per 10 gram pegged a month ago.Likewise, in th... »
FRANKFURT, May 16, 2013

RBI to take note of falling inflation in next policy review

D. Subbarao. File Photo The Reserve Bank of India has said it would take into account falling inflation while deciding on policy initiative in its review next month. “We certainly will take note of the softening... »
New Delhi, May 15, 2013

Coming in June, inflation-linked bonds

There’s now an alternative avenue for those who in recent times were going in for investment in gold as a hedge against inflation. As promised by Finance Minister P. Chidambaram in the Union budge... »
PARIS, May 15, 2013

Eurozone continues to be in recession for the sixth quarter

The recession across the economy of the 17 European Union countries that use the euro extended into its sixth quarter longer than the calamitous slump that hit the eurozone during the financial cr... »
Montek Singh Ahluwalia
New Delhi, May 14, 2013

Economy to see turnaround this fiscal: Montek

The sagging economy will see a turnaround this fiscal on the back of accelerating industrial production, improvement in global conditions and likelihood of good monsoon, the Planning Commission sa... »
MUMBAI, May 13, 2013

NSE sees gold ETF trading worth Rs.691 cr

Registering a significant increase, gold exchange traded funds (ETFs) worth Rs.691 crore were traded on the National Stock Exchange on Monday. Trading in gold ETFs jumped nearly 14 per ce... »
New Delhi, May 13, 2013

Exports up 1.6 % in April

Exports grew for the fourth consecutive month, recording a growth of 1.6 per cent in April, but surge in gold imports pushed up the trade deficit to $17.7 billion. Exports in April stood at $24.16... »
Nominated banks and agencies were permitted to import gold on loan basis, suppliers’ credit / buyers’ credit basis, consignment basis as also on unfixed price basis. File Photo: Kamal Narang
Mumbai, May 13, 2013

Reserve Bank places restriction on gold imports by banks

The Reserve Bank of India (RBI), on Monday, imposed restrictions on banks to import gold with immediate effect to curb the widening current account deficit (CAD). “To moderate the demand... »      4 comments
May 12, 2013
Financial Scene

Growth forecasts: fanciful or realistic

Economic growth forecasts for the current year (2013-14) by official and non-official agencies have started coming in at regular intervals. On May 3, the Reserve Bank of India (RBI), in its annual... »

Second major public sector port coming up in Nellore

2.5 % import duty on select metals

Diesel to cost 90 paise more

Factory output grows 2.5 %

No plan to retire forex forward deals, says RBI Governor

Onus is on Centre to check money laundering: Subbarao

FDI proposals worth Rs.263 crore cleared

RBI panel favours differential tax regime for exporters