SINGAPORE: Oil prices were mixed in Asian trade today, as investors weighed concerns over a supply disruption in the West Asia and a surge in US crude stockpiles, analysts said. New York’s main contract, light sweet crude for delivery in April was up 25 cents to $105.68 while Brent...
Monetary and Liquidity Measures On the basis of the current macroeconomic assessment, it has been decided to: keep the cash reserve ratio (CRR) of scheduled banks unchanged at 4.75 per cent of their net demand and time liabilities; and keep the policy repo rate under the liquidity adjustment facility...
Here are the highlights of the Economic Survey 2012 that will put forth the challenges that Pranab Mukherjee faces ahead of the Union Budget 2012, to be presented tomorrow. Highlights: * Growth estimated at 6.9% for the Current financial year * Growth estimated at 7.6% for FY’12 –’13 and...
HYDERABAD: Aircraft maker Gulfstream Aerospace Corp has garnered a big chunk of business jets business in the Asia-Pacific region and sees India as the next big opportunity along with China. Taking part at the India Aviation Show 2012 being held at Hyderabad, top executives of Gulfstream stated that their...
The Indian Air Force has initiated the process of inducting the Light Combat Aircraft (LCA) ‘Tejas’ and has placed an order for 40 aircraft with HAL. The Initial Operational Clearance-1 (IOC-1) for the aircraft was achieved in January, 2011. The advance version of the LCA, Tejas Mark-II aircraft is...
With industrial (IIP) growth in the April – January 12 period at 4 percent, industry needs strong easing signals from the RBI in order to ensure that investments pick up. Capital creation in the economy has been growing at a negative pace and this does not bode well for...
BANGALORE: Cassidian, the defence and security arm of European aerospace major EADS, has named the first chief executive for Indian operations. Dr Peter Gutsmiedl will be based in Bangalore, where Cassidian started an engineering centre a year ago. “Based in the heart of India’s aerospace and defence industry, he...
NEW DELHI : A nuclear-powered submarine India has leased from Russia will reach Indian shores by this month-end, a defence ministry official said here Wednesday. “The submarine will be here in a fortnight,” the official said on condition of anonymity, on the sidelines of a defence investiture ceremony at...
The Indian army is expected to remain a truly secular institution, without any prejudice or bias towards any religion, caste or creed. The Chiefs of this national army have come from different religious backgrounds. But interestingly, none came from the Muslim community. The Sachar Committee which was formed...
NEW DELHI: Defence Minister AK Antony today told Parliament that India has time and again lodged protest with Pakistan about construction of new bunkers and watch towers along its border region. “Protests have been lodged with the Pakistan Rangers and flag meetings of Field Commanders are held in all...
CHANDIGARH: The Chandigarh bench of military tribunal has dismissed a petition filed by one of the survivors of the Indian Navy frigate INS Khukri seeking probe about its sinking, observing that the issue raised by the petitioner has essence of public interest litigation (PIL) and the tribunal cannot entertain...
NEW DELHI: The grant of the country’s first compulsory drug licence and recent attempts at populist policy initiatives have raised fears of overseas pharmaceutical firms. The companies say that local regulations may stifle their business but domestic firms and health groups say the government’s moves strike a balance between...
MUMBAI: Reserve Bank of India Governor Duvvuri Subbarao, who has resisted calls for an interest rate cut for months, may persist with his policy on Thursday as he awaits government finances forecast for the next fiscal, and get a handle on inflation, which is rearing its head again. The...
MUMBAI: Banks receiving capital support from the government will have to think twice before putting money in non-core businesses. This is a condition that has been laid down by the finance ministry which, however, has not spelt out the activities that can be described as non-core. This was indicated...
NEW DELHI: The shortfall in direct tax collection target is now pinching the corporates. They have come under pressure from tax officials who are asking companies to pay more as last installment of advance tax so that gaps in targeted collection could be narrowed. Besides, various commissionerates of the...
Companies that depend on railways for business are cheering railway minister Dinesh Trivedi’s move to significantly increase allocation for locomotives and wagons, which boosts business opportunities. The minister painted a bright long-term picture for the wagon industry, saying annual procurement would rise to 29,000 units by 2020 from the...
NEW DELHI: Competitive politics saw UPA ally DMK and political rival AIADMK on the same side, trying to corner the Congress-led UPA government over the issue of atrocities against Sri Lankan Tamils. For a second day in a row, proceedings in both Houses of Parliament were disrupted as both...
LUCKNOW: It was in 1994 that Akhilesh, then around 20, was clicked with his chief minister father Mulayam Singh Yadav for the first time ever during a special photo shoot for a news magazine. A little over 18 years later, Akhilesh will be clicked with Mulayam once again on...