11844 stories by IPA Staff
Port Cargo Falls First Time In A Decade
NEW DELHI: Cargo handling in ports saw a decline in 2011-12, the first in 10 years. In 2011-12, cargo handling fell 1.7 per cent, compared to that in 2010-11. In the past few years, it had seen an increase of two-five per cent. Though the primary reason for the...
India, US Head To WTO On Visa, Poultry Issues
NEW DELHI: India and the US have embarked on a trade war over higher visa fees and restrictions on poultry imports. India has dragged the US to the World Trade Organization’s (WTO’s) dispute settlement body (DSB) over an increase in the professional visa fee. Both sides will fight a...
India Inc Raised $2.6 Billion Via ECBs In February
MUMBAI: Indian companies filed for external commercial borrowings (ECBs) worth $2.6 billion (Rs 13,300 crore) in February for funding capital expenditure, acquisitions abroad and to repay old loans. Reliance Communications accounted for $925 million for redeeming its Foreign Currency Convertible Bonds (FCCBs). Vodafone entities (seven) raised $750 million to...
India, Pakistan To Deepen Trade Ties
NEW DELHI: India and Pakistan will take another step towards deepening trade and economic relations when the commerce ministers of two countries meet later this week and officials say New Delhi will examine the issue of preferential access for Pakistani products such as cement and textiles . The two...
Vodafone Case: Foreign Bodies Seek Tax Review
NEW DELHI: Two international trade bodies have joined the global chorus seeking a review of the government’s move to retrospectively tax overseas transactions involving Indian assets, a proposal widely seen to be targeted at British telecom company Vodafone. The France-based International Chamber of Commerce and the Business and Industry...
CPI(M) Leadership Misses The Point
By Amulya Ganguli The Congress and the CPI(M) have just concluded their analyses of electoral performance – the first via a limited exercise relating only to U.P. and presided over by the party’s heir apparent, Rahul Gandhi and latter in a more elaborate manner. However, the outcome was the...
Five Countries, Many Disparate Agendas
By Praful Bidwai It’s indisputable that the world is in acute need of reform which would make it less unequal, violent, crisis-prone and unjust. The Great Recession, the globe’s worst economic crisis since the 1930s, continues to wreak havoc on millions of people’s well-being. Disparities between the developed and...
Restless Railwaymen Are Worried Too
By Narendra Sharma NEW DELHI: The recent political shakeup in the Railway Ministry has incidently revealed that railwaymen are a worried lot. Their concern about financial viability of Railways and its safety and security seems to have pushed the Railwaymen Federations to openly lend support to railway fares increase...
Presidential Elections Cast Shadow On Reform Bills
By Nitya Chakraborty NEW DELHI: The top leadership of the UPA-2 Government is always facing a Hameltian dilemma on the pushing of the financial sector reform bills which, according to them, have the potential to rejuvenate the economy through the inflow of foreign funds. The Insurance Bill proposing 49...
Dhumal Government Shielding The Corrupt
By B.K. Chum in Chandigarh Situations never remain static. The latest example is of Himachal Pradesh. The state’s ruling BJP leadership was euphoric over the Akali-BJP’s recent electoral victory in Punjab hoping it would favourably impact the party’s prospects in the state Assembly elections to be held by 2012...
Government To Fix Minimum Investment Limit For JV Partners In FDI
NEW DELHI: The government is likely to define the term “joint venture” for the purpose of Foreign Direct Investment (FDI) under which it would be mandatory for at least two partners to have minimum 25% stake each in the JV company. The definition of “joint venture” would be incorporated...
Manufacturing Growth Revived In Q4: Survey
NEW DELHI: Notwithstanding a tight monetary policy that is continuing and adverse reactions to some of the Budget proposals, a larger number of players sense a growth in the manufacturing sector to have revived in the last quarter of 2011-12, says a study. They expect a healthy expansion of...
PE Players Eye Overseas Bourses To List Portfolio Companies
MUMBAI: Private equity funds are looking to list their portfolio companies on overseas stock exchanges as the volatile Indian stock market offers them lower returns. “We have made structures for some of our portfolio vehicles in such a way that the listing of the holding company on the foreign...
FIIs Cut India Debt On Rupee, Tax Fears
MUMBAI: A weakening rupee and higher hedging costs are prompting foreign institutional investors (FIIs) to pare their positions in the Indian debt market. That apart, some investors are apprehensive of how the General Anti-Avoidance Rules (GAAR) would impact their exposures. GAAR, which is part of the proposed direct taxes...
Reliance, BP Set To Kick Off Imported Lng Marketing
MUMBAI: Faced with a shortfall in gas production from its KG-D6 field, Reliance Industries Ltd (RIL) is set to make its debut in the marketing of imported natural gas. India Gas Solutions, the equal joint venture between RIL and British Petroleum (BP) set up to source and market natural...
Gas Pricing Reforms Key To Sector's Growth
NEW DELHI: Free pricing and supply security will be key to the growth of natural gas sector, according to Dr Abdul Rahim Hashim, President, International Gas Union, Malaysia. For the liquefied natural gas sector to grow, studies have suggested that, prices should be at least $6 a mmBtu, perhaps...
Tamil Nadu To Set Up 2 LNG Power Plants
CHENNAI: The Tamil Nadu government is planning to set up two 500-Mw LNG-based power plants to address the electricity shortage in the state. One of the plants would be set up near the five-million-tonne-per-annum Indian Oil Corporation terminal that was set up after a memorandum of understanding was signed....
Kerosene: Direct Subsidy Transfer Pilot Successful In Alwar
NEW DELHI: The Aadhaar-linked pilot project on direct transfer of subsidy for kerosene in Rajasthan has been quite successful in weeding out ghost customers. Initial trends of the project, being implemented since December 2011 in a block in Alwar, show a significant drop of kerosene being sold under the...
