IPA Special

Trade Deficit Dips Marginally, Exports Rise 3.23 Per Cent To $24.45 Billion In April

NEW DELHI: India’s trade deficit for April declined marginally to $13.48 billion compared to the March 2012 figures, while the exports grew by 3.2% to $24.45 billion on account of recent depreciation in the rupee despite a slowdown in demand from overseas markets like the US and Europe. The...

Jun 2 · >

PM’s Investment Tracker System To Speed Up Projects

NEW DELHI: A day after official data showed the slowest GDP growth in nine years and amid rising concerns over the persistent slump in investment demand, Prime Minister Manmohan Singh on Friday set up an investment tracking system to ensure speedy implementation of projects with outlays of R1,000 crore...

Jun 2 · >

Power Demand Reaches New High, Loadshedding Continues

NEW DELHI: The power demand in the city today breached all previous records, touching a new high of 5,178 mega watt as loadshedding continued to haunt people in the blistering heat due to mismatch in demand and supply. The previous highest power demand in the city was recorded only...

Jun 2 · >

Oil Companies Losses On Diesel And Cooking Fuels Decline

NEW DELHI: State-owned oil companies have seen losses on diesel and cooking fuels drop by over 28% following a decline in international oil rates. Oil PSUs, which at the beginning of the fiscal were losing Rs 670 crore per day on selling diesel, domestic cooking gas LPG and kerosene...

Jun 2 · >

Indian & South Korean Naval Forces Will Start Joint Military Exercise Tomorrow

Sources within the Indian Navy (IN) informed the media that the joint naval operation, conducted by both the Indian and South Korean navies will start from tomorrow onward, in the Korean port city ofBusan. An official with the Indian Embassy inSouth Koreasaid that the Indian naval fleet had reached...

Jun 2 · >

SpiceJet scouts for foreign stake buyer as losses mount in Q4

New Delhi: The Sun Group-promoted SpiceJet is keen on offloading a part of its stake to an overseas investor as soon as the government gives green signal to the FDI policy, allowing foreign airlines to pick up to 49% stake in domestic airlines. The SpiceJet board has already evolved...

Jun 2 · >

Gokarn-speak raises rate cut hopes

MUMBAI/KOCHI: The prospects of monetary easing in the mid-quarter policy review on June 18 brightened on Friday. Apart from falling commodity prices and an economic slowdown (on Friday’s Brent crude price fall and yesterday’s GDP growth figures were the most immediate reasons), the market took comfort from Reserve Bank...

Jun 2 · >

FIPB Starts Clearing Investments In Drug Sector Again

NEW DELHI: The Foreign Investment Promotion Board (FIPB) has resumed clearing investment proposals in Indian drug companies, a move that will revive deal flow in the Rs 62,000 crore domestic pharma sector. The board has cleared four proposals of foreign financial investors, but again deferred a decision on stake...

Jun 1 · >

Cabinet Clears New Telecom Policy

NEW DELHI: The Union Cabinet on Thursday approved the National Telecom Policy 2012 that aims to do away with roaming charges, introduce a pan-India mobile permit that will enable mobile phone firms to offer all communication services, allow operators to share and trade spectrum and facilitate consolidation in the...

Jun 1 · >

GDP Growth Shocks At 5.3 Per Cent

NEW DELHI: In what came as a shock to even the most pessimistic,India’s economy expanded at just 5.3% during the last quarter of 2011-12, the slowest pace since the corresponding quarter of 2002-03, as manufacturing contracted and agricultural growth plateaued. With a decline in growth for the fourth straight...

Jun 1 · >